No matter how skilled you are at budgeting, everyone runs short of money from time to time. Part of budgeting is ensuring you have enough cash in your checking account to pay bills when they are due. If you run short of money, or a deposit is late and your checks are returned, you could be saddled with fees for insufficient funds, returned checks, and late payments. When money is tight, you must consider how to avoid overdraft fees.
There will be times in your life when you will be short of funds. You may be unemployed or have a personal disaster that has left your bank account empty and bill collectors pounding on your door. You need to find a way to get out of debt. Bankruptcy should be your last resort, and this blog post will help show you how to avoid bankruptcy.
You found the love of your life and you can’t wait to get married. However, you don’t want to get so caught up in your wedding plans that you fail to lay a solid foundation for your future together. Talking about money before you tie the knot is one way to avoid future conflict. Conversations about money are always awkward, but laying your financial cards down on the table before you get married is always a good idea.
Spring is the time when the weather gets warmer, flowers bloom, and people get married. Spring is traditionally the wedding season, which means you may start receiving wedding invitations from friends and family. You also may be asked to be part of the wedding party. Attending weddings when you are on a budget can be challenging. However, with the right planning and a little creativity you can attend those weddings without breaking the bank.
Emergencies are difficult to plan for, but there are steps you can take to prepare yourself, no matter what crises may lie ahead. Most personal emergencies, such as loss of a job, an auto accident, or a health crisis, require ready cash. That’s why having an emergency fund foundation should be part of your financial strategy.
Homeownership is something that many people dream about. Owning your own home offers benefits beyond owning a place to live—the biggest being that it allows you to build home equity. Your home is likely to be the most expensive purchase you will ever make, and it will be your most valuable asset, so accessing the untapped value of your home offers many advantages.
For many, college is the first time you are truly living on your own. You have to arrange your own meals, do your own laundry, and balance time studying against time for fun. It’s also the first time you have to apply basic money management skills, paying for books, food, transportation, and more.
We all have to start out somewhere, and most of us find ourselves short of money at some time in our lives. Whether you are just starting your career, are between jobs, or are dealing with a personal or family emergency, there are likely going to be times when money will be tight.
Worrying about keeping up with household expenses seems to be a universal concern, and many Americans continue to plod along through jobs they hate because they need to pay the bills. However, you don’t have to be a slave to your paycheck. With the right kind of financial tools and financial planning, you can realize your own financial freedom.