Wedding season is upon us. Many couples who had planned to get married in 2020 put their nuptial plans on hold because of the pandemic, so 2021 has seen an increase in weddings. Budgeting for weddings is different these days, with couples planning unusual wedding venues, bigger or even multiple receptions, and more extravagant weddings to compensate for COVID-19 claustrophobia.
Money plays a crucial role in everyone’s life, so it’s no surprise that children start learning about money early. Children are observers, and as they watch mom and dad make purchases at the store, fill the gas tank, and pay bills, they start to develop an awareness of money. That’s why financial literacy has to start early. Even before your kids are ready to open their own youth accounts, they should be prepared with basic lessons about savings, credit, and debt.
At the risk of sounding like an overly cheesy motivational speaker, we all deserve the opportunity to pave our own path. Traditions, standards, and societal norms have a way of sculpting our daily decisions. Some may feel pressured by their parents to study science or medicine. Others may fear disappointing those who have already set the bar. But at some point, if you can’t stop thinking about how your life could somehow be different or better, you have to take a leap of faith.
Summer is the time for family fun. The weather is great. The kids are out of school. There’s plenty to do and see with family and friends. At the same time, summer can be a great time to build your savings. Summer fun doesn’t have to be expensive, though. In fact, summer can be a great time to put more money away for the future.
Portland, Oregon, is a great place to live and work. U.S. News & World Report ranked Portland No. 8 among the best places to live in the United States and No. 20 among the best places to retire. Portland is known for its quirky personality, offering food trucks, Adult Soapbox Derby races, and Voodoo Doughnuts. It has a mild climate with plenty of cultural activities, it has nearby wilderness for outdoor adventures, and let’s not forget the Trail Blazers. It has also become a hotbed for tech startups, so more people are flocking to Portland looking for new opportunities.
Every business runs on cash, so every business should have both a checking and a savings account. However, you don’t want to run your business using the family’s accounts. You should establish separate checking and savings accounts that are structured specifically for business.
If you have been thinking about buying a house, it’s never too early to start saving. Most home sales require 20% of the purchase price as a down payment, or substantially less if you are a first-time homebuyer. The sooner you start saving, the sooner you will be ready to do some serious house hunting.
The New Year is the time of resolutions. Whether it involves living a more healthy lifestyle, losing weight, or saving money, come January 1, you’ll want to start with a clean slate. Many people include saving more money on their list of New Year’s resolutions, but in order to increase your savings, you will have to change your money habits.
Everyone wants to put some money away for retirement or even just a rainy day, but surprisingly few people actually manage to accumulate savings. According to a study by Northwestern Mutual, one in three Americans have less than $5,000 set aside as retirement savings, and 21 percent have no retirement savings at all. Another survey by Bankrate shows that 13 percent of Americans are saving less for retirement than they were a year ago, largely because their income hasn’t changed while the cost of living continues to rise.