banking http://www.wisebread.com/taxonomy/term/794/all en-US How to Use Bucket Budgeting to Overhaul Your Finances http://www.wisebread.com/how-to-use-bucket-budgeting-to-overhaul-your-finances <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-use-bucket-budgeting-to-overhaul-your-finances" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_saving_in_jars.jpg" alt="Woman saving in jars" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>You know the drill: You're supposed to save up at least three to six months' worth of expenses in an emergency fund. That way, you're covered in case of a job loss, an expensive car repair, or another &quot;life happens&quot; moment. You've set up an automatic transfer into your savings account to make sure you don't have to rely on your own inconsistent memory to fill it up. You should be all set.</p> <p>So why is it that you never seem to have more than a couple hundred dollars in your savings account, despite making all the right moves?</p> <p>It's likely that your savings account doesn't have a specific purpose, which makes it much easier to make withdrawals for nonessentials. That's where bucket budgeting (also known as targeted savings) comes in.</p> <p>Here's what you need to know about bucket budgeting and how it can improve your finances.</p> <h2>What is bucket budgeting?</h2> <p>Bucket budgeting is similar to the old-fashioned <a href="http://www.wisebread.com/a-comprehensive-guide-to-the-envelope-system?ref=internal" target="_blank">envelope budgeting system</a>, where you would set aside cash in different envelopes labeled with their purpose. For instance, under the envelope system, if you budget $400 per month for groceries, you would put $400 cash in an envelope marked &quot;groceries&quot; each month, and only spend that particular money when you went shopping at the supermarket. With bucket budgeting, however, instead of setting aside cash in envelopes for regular spending, you set up targeted savings accounts for various savings goals.</p> <p>For instance, let's say you've had to take money from your savings account several times over the last year to help pay for a car repair, a leaking water main in your house, summer camp for your kids, and your anniversary trip with your spouse.</p> <p>Even though each of these purchases may be perfectly valid reasons to dip into savings, it's tough to know if you're making good choices with your money if it's all in one place. That's why bucket budgeting would have you create five sub-accounts for your savings, each with a different savings goal:</p> <ul> <li> <p>Emergency: $1,000</p> </li> <li> <p>Car repairs: $500</p> </li> <li> <p>Home repairs: $500</p> </li> <li> <p>Kids' camp fees: $650</p> </li> <li> <p>Anniversary trip: $350</p> </li> </ul> <p>With this system, you have a better sense of how much is available to spend. In addition, it's much easier to scale down your anniversary trip expectations from &quot;a week in Mexico&quot; to &quot;a weekend at a local bed-and-breakfast&quot; when you realize what you'd be taking the extra money from.</p> <h2>Bucket budgeting and motivation</h2> <p>The other aspect of bucket budgeting that can really kick your finances into high gear is the motivational aspect of it. We are much more likely to feel excited about saving money if we have a specific goal in mind.</p> <p>This increased savings motivation stems from our mental accounting, which is our tendency to value money differently depending on how it is physically and mentally labeled. You might feel no compunction about &quot;borrowing&quot; $500 from your general savings account for that getaway with your spouse, but taking that money from your kids' camp fund would hurt. (See also: <a href="http://www.wisebread.com/what-happens-when-were-not-logical-with-money?ref=seealso" target="_blank">What Happens When We're Not Logical With Money</a>)</p> <p>In addition, it's a lot more fun to see a savings account with a specific purpose grow over time than it is to see a general fund get bigger. Seeing money transferred from your checking account to your savings account can be dull and painful, but seeing money go from your checking account to the account where you're saving for a dream vacation or a new car can be downright enjoyable.</p> <h2>How to create your buckets</h2> <p>There are any number of goals you could be setting money aside for, so how do you determine which goals should get their own bucket? In general, there are four types of bucket categories you will want to create sub-accounts for: emergency expenses, irregular expenses, big-ticket items, and dreams. (See also: <a href="http://www.wisebread.com/reach-your-money-goals-faster-with-a-simple-naming-trick?ref=seealso" target="_blank">Reach Your Money Goals Faster With a Simple Naming Trick</a>)</p> <h3>Emergency expenses</h3> <p>These are the urgent expenses that you have no way of predicting before they crop up. These include things like car repairs, home repairs, or medical needs. These needs can each have their own buckets, in addition to a separate emergency fund that you keep at least $1,000 in.</p> <p>Why have separate funds for these emergency expenses when you could have just one emergency fund? Having separate buckets for the various emergencies you might encounter can help you weather those times when everything seems to break all at once. That way, if you need to take care of a car repair, fix a broken window, and get an emergency root canal all in the same month, you will still have some emergency money to fall back on just in case something else goes wrong. (See also: <a href="http://www.wisebread.com/7-easy-ways-to-build-an-emergency-fund-from-0?ref=seealso" target="_blank">7 Easy Ways to Build an Emergency Fund From $0</a>)</p> <h3>Irregular expenses</h3> <p>Irregular expenses are the ones that are predictable, but don't come as part of your regular monthly budgeting. They include annual, biannual, or quarterly bills, membership dues, and taxes. Any expenses that you kick yourself for having forgotten are excellent candidates for bucket budgeting.</p> <p>For instance, how many times have you been surprised by an annual bill? Without bucket budgeting, it's easy for the annual car insurance bill to slip your mind until it's staring you in the face and you're scrambling to pay it.</p> <h3>How much to put in emergency and irregular buckets</h3> <p>To figure out how much to put in each of your emergency buckets and your irregular expense buckets, go back over your expenses for the past few years and determine about how much you spend per year on each type. Divide each expense total by 12, and set up automatic monthly transfers to the specific accounts. That way, when an emergency occurs and when an irregular expense comes due, you'll have money already set aside to deal with it.</p> <h3>Big-ticket items</h3> <p>Your laptop, your phone, and your car are all items you use everyday that have a limited life span. Bucket budgeting can help you be prepared to replace any of these items should something happen to them. Setting aside a little money each month is a lot easier than trying to find hundreds or thousands of dollars all at once.</p> <p>In terms of saving for a car replacement, consider transferring the equivalent of your car payment to your &quot;new car&quot; sub-account once you've paid off your current car. For your laptop and phone, divide the cost of a replacement model by 24 and put that amount in each sub-account per month, so that you'll have enough for a replacement within two years &mdash; and hopefully you won't even need it.</p> <h3>Dreams</h3> <p>Bucket budgeting is also a great tool for helping you to realize your dreams. Whether you want to buy a house, travel, or learn how to brew beer, you'll be in a much better position to follow those dreams if you're saving for them. Having separate, targeted accounts for each one of your future goals means that you are always working toward those goals. It's a lot tougher to forget to save for a goal if you have a specific account named for it &mdash; and it's a lot harder to borrow money from your dreams than it is to borrow from an unnamed savings account.</p> <h2>Where to put your buckets</h2> <p>Both online and traditional banks have gotten into the sub-account savings game. You can start with your regular bank, although it can be a good idea to have your buckets in a different bank. Not only does that lessen the temptation to dip into your savings accounts unnecessarily, but you can also take the time to shop around for the best rates, since your money might as well be working for you.</p> <h2>Bucket budgeting for the win</h2> <p>Putting a name to each one of your savings goals not only helps you save more and spend less, but it can also help you to be more prepared for potential financial problems &mdash; and feel more relaxed when they do occur.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fhow-to-use-bucket-budgeting-to-overhaul-your-finances&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FHow%2520to%2520Use%2520Bucket%2520Budgeting%2520to%2520Overhaul%2520Your%2520Finances.jpg&amp;description=How%20to%20Use%20Bucket%20Budgeting%20to%20Overhaul%20Your%20Finances"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/How%20to%20Use%20Bucket%20Budgeting%20to%20Overhaul%20Your%20Finances.jpg" alt="How to Use Bucket Budgeting to Overhaul Your Finances" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/emily-guy-birken">Emily Guy Birken</a> of <a href="http://www.wisebread.com/how-to-use-bucket-budgeting-to-overhaul-your-finances">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-personal-finance-resolutions-anyone-can-master">8 Personal Finance Resolutions Anyone Can Master</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/this-simple-journal-may-be-the-fix-for-your-finances">This Simple Journal May be the Fix for Your Finances</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/is-an-all-cash-diet-right-for-you">Is an All-Cash Diet Right for You?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-money-moments-that-should-be-on-everyones-bucket-list">8 Money Moments That Should Be On Everyone&#039;s Bucket List</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-help-your-kid-build-their-first-budget">How to Help Your Kid Build Their First Budget</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Budgeting banking bucket budgeting emergency funds Envelope system goals mental accounting mental tricks naming saving money savings accounts Wed, 21 Mar 2018 09:30:16 +0000 Emily Guy Birken 2116897 at http://www.wisebread.com 5 Alternatives to a 401(k) Plan http://www.wisebread.com/5-alternatives-to-a-401k-plan <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-alternatives-to-a-401k-plan" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/stacks_of_coins_in_bank_notes_with_white_eggs.jpg" alt="Stacks of coins in bank notes with white eggs" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>The status of 401(k) plans has been in the news a lot recently, as part of the wider discussion about tax reform on Capitol Hill. While it does appear that tax benefits for the popular employer-sponsored retirement plans will remain unchanged for now, even the prospect of change has left some people feeling unsettled about what to do with their money moving forward.</p> <p>To be clear, a 401(k) plan remains a very powerful tool to help you save for retirement, especially if your company is generous in matching contributions. But if you are feeling confused or are not happy with what your current 401(k) plan offers, there are some other options available to help you build a retirement fund. Here's the skinny on a handful of 401(k) alternatives.</p> <h2>1. Roth IRA</h2> <p>A Roth Individual Retirement Account (IRA) is a popular option among people who don't have access to a 401(k) or other retirement plan through their employer. With a Roth, you can contribute up to $5,500 annually ($6,500 if over age 50), and since you contribute with post-tax dollars, the gains on those investments can be withdrawn tax-free when you retire. Roth IRAs are popular due to the flexibility to choose your own investments. It's also possible to use the account for certain emergency costs, such as medical bills or a home threatened by foreclosure, and you can even use it as a college savings account, though there may be penalties and taxes if you withdraw gains before age 59 &frac12;. (See also: <a href="http://www.wisebread.com/using-your-roth-ira-as-an-emergency-fund-ever-a-good-idea?ref=seealso" target="_blank">Using Your Roth IRA as an Emergency Fund &mdash; Ever a Good Idea?</a>)</p> <p>A Roth IRA is a good alternative to a 401(k) for those who don't have access to one. Even if you do have a 401(k), sometimes a Roth IRA is a better option, such as in cases when an employer does not offer matching contributions, or the fund choices are expensive or limited. (See also: <a href="http://www.wisebread.com/401k-or-ira-you-need-both?ref=seealso" target="_blank">401(k) or IRA? You Need Both</a>)</p> <p>Roth IRAs are also useful because you can contribute as long as you have earned income; other retirement plans require you to begin making withdrawals by age 70 &frac12;.</p> <h2>2. Traditional IRA</h2> <p>A traditional IRA is similar to a Roth IRA, but the tax advantages are more in line with a 401(k). In this case, any contributions to the account are deducted from your taxable income up front; you will be required to pay taxes on the gains when you retire.</p> <p>It's entirely possible and sensible to have both a traditional IRA and a Roth IRA in order to get tax advantages both now and later. Note that with a traditional IRA, you must start taking required minimum distributions starting at age 70 &frac12;.</p> <h2>3. Taxable brokerage account</h2> <p>There are no tax advantages to opening a good old-fashioned, regular, taxable brokerage account. But you do get flexibility that can't be offered by a 401(k) or IRA. With a regular taxable account, you can invest in whatever you want and buy and sell whenever you want without any early withdrawal penalties, though you will pay taxes on any gains. This type of brokerage account is great if you want to buy dividend stocks to boost your income, or use the investments for something other than retirement.</p> <h2>4. Peer-to-peer lending</h2> <p>This is a relatively new investment option that allows people to connect online with borrowers and collect interest income. Through peer-to-peer lending sites such as Lending Club and Prosper, you become a lender and loan money to someone in need of cash, profiting from the interest on that loan.</p> <p>With peer-to-peer lending, lenders can earn considerably more than what they might earn from interest from the bank, and may even outpace stock market returns, depending on the riskiness of the loans they buy. But there is always some risk that the borrower will default. And keep in mind that interest from peer-to-peer lending is taxed as normal income, rather than investment gains. (See also: <a href="http://www.wisebread.com/everything-you-need-to-know-about-peer-to-peer-investing-with-lending-club?ref=seealso" target="_blank">Everything You Need to Know About Peer-to-Peer Investing With Lending Club</a>)</p> <h2>5. Stick your money in the bank</h2> <p>Putting your money into a savings account is always an option, though not the best one on this list. These days, interest rates are so low that in many cases the growth of your savings will barely outpace inflation. You may be able to find better-than-average rates at some online banks or by opening a certificate of deposit, but there's no chance you'll be able to match the returns of the stock market over the long term. It's fine to use a bank account for your emergency fund, but for long-term savings, look elsewhere.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F5-alternatives-to-a-401k-plan&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F5%2520Alternatives%2520to%2520a%2520401%2528k%2529%2520Plan.jpg&amp;description=5%20Alternatives%20to%20a%20401(k)%20Plan"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/5%20Alternatives%20to%20a%20401%28k%29%20Plan.jpg" alt="5 Alternatives to a 401(k) Plan" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/tim-lemke">Tim Lemke</a> of <a href="http://www.wisebread.com/5-alternatives-to-a-401k-plan">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-save-for-retirement-when-you-are-unemployed">How to Save for Retirement When You Are Unemployed</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/where-to-invest-your-money-after-youve-maxed-out-your-retirement-account">Where to Invest Your Money After You&#039;ve Maxed Out Your Retirement Account</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-things-millennials-can-do-right-now-for-an-early-retirement">8 Things Millennials Can Do Right Now for an Early Retirement</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/which-retirement-account-is-right-for-you">Which Retirement Account Is Right for You?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/money-a-mess-try-this-personal-finance-starter-kit">Money a Mess? Try This Personal Finance Starter Kit</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Investment Retirement 401(k) banking gains peer to peer lending Roth IRA saving money savings account taxable brokerage account traditional ira Mon, 18 Dec 2017 09:30:10 +0000 Tim Lemke 2070181 at http://www.wisebread.com How to Earn Money With Your Emergency Fund http://www.wisebread.com/how-to-earn-money-with-your-emergency-fund <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-earn-money-with-your-emergency-fund" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/young_woman_with_a_piggy_bank_0.jpg" alt="Young woman with a piggy bank" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Life is full of unexpected and often unpleasant financial surprises. That's why it's so important to have an emergency fund. An emergency fund provides you the cash to cover everything from a blown water heater to a leaky roof to a bout of unemployment. Ideally, you should have enough dollars in your emergency fund to cover three to six months' worth of daily living expenses. (See also: <a href="http://www.wisebread.com/4-new-reasons-you-need-an-emergency-fund?ref=seealso" target="_blank">4 New Reasons You Need an Emergency Fund</a>)</p> <p>There's one problem with an emergency fund, though: You need your funds to be liquid so you can quickly get at your dollars when you need them. You also need your fund to be safe and stable. You don't want a blip in the stock market to drain those emergency funds.</p> <p>Because of this, you'll most likely stow your emergency fund in a savings account that pays out a tiny amount of interest. This is unfortunate; it'd be nice if the cash sitting in your emergency account was actually earning some money of its own.</p> <p>Here's a bit of good news: There are two good options for people who want to earn money from their emergency funds. The key, though, is to remember that the primary goal of your emergency fund is to act as a financial safety net. Earning a higher amount of interest is a secondary goal.</p> <h2>The problem with traditional savings accounts</h2> <p>If your emergency fund dollars are sitting in a traditional savings account, they're probably not earning much interest at all. Most banks today pay about .05 percent interest on their savings accounts. This is tiny.</p> <p>To put it in perspective: If you have $20,000 in your emergency fund, at 0.05 percent interest, that amount would grow to just $20,010. That's right, that .05 percent interest rate would earn you $10 in one year. Hardly inspiring.</p> <h2>Try a high-yield savings account</h2> <p>A better option might be to hunt for a bank offering what is known as a <a href="http://www.wisebread.com/5-best-online-savings-accounts?ref=internal" target="_blank">high-yield savings account</a>. As the name suggests, such accounts offer higher interest rates.</p> <p>The rates with these accounts still aren't particularly impressive. Most high-yield savings accounts come with interest rates of about 1 percent. That won't make you rich, but it is better than .05 percent. A high-yield savings account also meets the main requirement of an emergency fund &mdash; it's not volatile.</p> <p>Just be careful to read the rules of your high-yield savings account. Some might require a minimum balance. If your balance drops below this figure, you might get hit with a fee, cutting into your savings. Make sure, too, that the money in your high-yield account is truly liquid. You want to be able to access it quickly whenever you need it.</p> <h2>Short-term bond funds</h2> <p>Another option is to invest your emergency fund in a short-term bond fund. The benefit of these funds is that they are far less risky than traditional mutual funds or stocks. At the same time, they enjoy much better annual returns than you'd be able to get by leaving your emergency fund in a savings account. You can find short-term bond funds offered by investment companies such as Fidelity and Vanguard.</p> <p>These funds are also liquid. You can withdraw dollars from them whenever you'd like, which is ideal for an emergency fund.</p> <p>Annualized returns will vary, but you can expect your money to earn from 1.7 percent to 3.6 percent every year, according to a recent analysis from Investopedia. Again, this is a much better return than what you'd get from that interest rate of .05 percent with a traditional savings account.</p> <p>There is some risk, though, even with short-term bond funds. Again, your annual returns might fluctuate. If you want more certainty with your emergency fund, stashing your dollars in a savings account might be a better choice for you.</p> <p>No matter where you invest your emergency fund money, remember that stability and quick access remain the keys. Safety matters the most with an emergency fund. Sure, you'd have the potential to earn much more on your emergency fund if this money were invested in a mutual fund, but you'd also have the potential to lose this money. Don't let your quest for more earned interest lead you to investment options that are too risky for an emergency fund.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fhow-to-earn-money-with-your-emergency-fund&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FHow%2520to%2520Earn%2520Money%2520With%2520Your%2520Emergency%2520Fund.jpg&amp;description=How%20to%20Earn%20Money%20With%20Your%20Emergency%20Fund"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/How%20to%20Earn%20Money%20With%20Your%20Emergency%20Fund.jpg" alt="How to Earn Money With Your Emergency Fund" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="http://www.wisebread.com/how-to-earn-money-with-your-emergency-fund">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/interest-rates-are-rising-heres-where-to-keep-your-cash">Interest Rates Are Rising: Here&#039;s Where to Keep Your Cash</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-use-bucket-budgeting-to-overhaul-your-finances">How to Use Bucket Budgeting to Overhaul Your Finances</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-use-a-credit-card-for-an-emergency-without-drowning-in-debt">How to Use a Credit Card for an Emergency Without Drowning In Debt</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-benefit-from-rising-interest-rates">How to Benefit From Rising Interest Rates</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-important-things-to-look-for-in-a-savings-account">6 Important Things to Look for in a Savings Account</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance banking emergency funds interest rates liquidity savings accounts short term bond funds yields Thu, 19 Oct 2017 09:00:06 +0000 Dan Rafter 2038280 at http://www.wisebread.com 9 Signs Your Identity Was Stolen http://www.wisebread.com/9-signs-your-identity-was-stolen <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/9-signs-your-identity-was-stolen" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/anonymus_with_laptop.jpg" alt="Anonymous with laptop" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>If you get mugged, you know immediately that you're the victim of a crime. But with identity theft, you can be victimized for years before you realize what's happening. And the longer the criminal uses your name, Social Security number, and credit, the more damage is done. (See also: <a href="http://www.wisebread.com/18-surprising-ways-your-identity-can-be-stolen?ref=seealso" target="_blank">18 Surprising Ways Your Identity Can Be Stolen</a>)</p> <p>With the recent Equifax breach exposing the personal information of as many as half of Americans, we could be in for an identity theft epidemic. Keep alert for these signs that your identity has been stolen, so you can stop the damage before it goes too far. (See also: <a href="http://www.wisebread.com/how-to-protect-your-credit-after-the-equifax-breach?ref=seealso">How to Protect Your Credit After the Equifax Breach</a>)</p> <h2>1. Strange bills or statements arrive</h2> <p>It's very important to always open your mail, even if it doesn't look important. A bill or statement from an unfamiliar service provider or credit account can often be the first sign of identity theft.</p> <p>&quot;You may think it's just junk mail, but you might discover it's an invoice for a surgery in a state where you don't live,&quot; warns Ann Patterson, program director of the Medical Identity Fraud Alliance. &quot;That is a very good indication that you've been a victim.&quot;</p> <h2>2. Bills stop arriving</h2> <p>On the flip side, make sure you are receiving all bills and statements you normally receive. If one falls off, it could be that a criminal has changed the address on that account, which could help them establish other accounts going to a different address.</p> <p>If your mail dries up altogether, that's a sign that a thief may have filed a change of address request at the post office &mdash; they could be getting all your mail with all the sensitive information found there.</p> <h2>3. Odd charges on credit accounts and checking accounts</h2> <p>Credit card companies have gotten good at alerting customers to fraudulent attempts to make charges, but they can't catch 'em all. Keep a keen eye on your credit card and bank statements. The first charge an identity thief makes may be small, because they're testing to see whether the card is active. There are also scammers out there who make their money by processing many small charges on many credit accounts.</p> <h2>4. Your find yourself getting rejected for things</h2> <p>Your health insurance company rejects your claim because you're over your annual limit &mdash; but this was your first claim. You're turned down for a new credit card or your charges are denied at the store. You apply for life insurance and are charged a higher rate due to a pre-existing condition that you don't have. The ATM won't give you any money.</p> <p>Don't brush off any of these events. It could be a fluke, or it could be a sign that something sinister is going on.</p> <h2>5. You receive suspicious phone calls</h2> <p>A neighbor of mine recently received a phone call that purported to be from her bank. The caller read back a list of recent transactions, which set her mind at ease that the call was legit, even though she knew that caller ID numbers can be spoofed. She was then tricked into sharing a PIN with the caller.</p> <p>What might be happening if you get a call like that? You may already be a victim of identity theft, with the criminal already accessing your bank account. They may use the information they already know to trick you into giving them more information, or the access they need to start stealing money.</p> <h2>6. You receive strange texts or emails</h2> <p>If you are smart, you've set up two-factor authentication on important accounts. This means that you have asked your bank or other service providers to email or text you before allowing you to sign onto your account or take other actions, such as transferring out money. The text may provide you with a one-time code that you need to type into the website to log in, for example.</p> <p>If you receive a text or email with a PIN when you didn't request one, this is a big red flag that someone has your login credentials and is trying to take control of your account. Contact the company immediately through the phone number on your statement. And change your password.</p> <h2>7. Creditors and collections agencies start calling you</h2> <p>You got a call from a car dealership warning that your payment is late. The only problem is you didn't recently buy a car, and you have no current car payments. This is a huge red flag. Do not simply write off such calls as errors or wrong numbers.</p> <h2>8. You don't receive your tax refund, or the IRS notifies you that you filed two tax returns</h2> <p>The Department of Justice reports that people have stolen billions of dollars from the U.S. Treasury by filing tax returns using stolen identities, and pocketing the refunds. Just make sure it's really the IRS contacting you, instead of a scammer posing as the IRS. (See also: <a href="http://www.wisebread.com/beware-these-6-phony-irs-calls-and-emails?ref=seealso" target="_blank">Beware These 6 Phony IRS Calls and Emails</a>)</p> <h2>9. There are accounts you don't recognize on your credit report</h2> <p>If any of the above warning signs occur, you should definitely request a free copy of your credit report and study it carefully. If there are any credit accounts listed there that you didn't open, your suspicions will be confirmed.</p> <p>Even if you didn't experience any warning signs, you should check your report regularly, especially in light of the Equifax breach. You can request a free report from each of the three agencies once a year at AnnualCreditReport.com, so if you request one every four months, you'll be able to stay pretty on top of things. (See also: <a href="http://www.wisebread.com/dont-panic-do-this-if-your-identity-gets-stolen?ref=seealso" target="_blank">Don't Panic: Do This If Your Identity Gets Stolen</a>)</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F9-signs-your-identity-was-stolen&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F9%2520Signs%2520Your%2520Identity%2520Was%2520Stolen.jpg&amp;description=9%20Signs%20Your%20Identity%20Was%20Stolen"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/9%20Signs%20Your%20Identity%20Was%20Stolen.jpg" alt="9 Signs Your Identity Was Stolen" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/carrie-kirby">Carrie Kirby</a> of <a href="http://www.wisebread.com/9-signs-your-identity-was-stolen">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-freeze-your-credit">How to Freeze Your Credit</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-protect-elderly-loved-ones-from-financial-scams">How to Protect Elderly Loved Ones From Financial Scams</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-protect-your-credit-after-the-equifax-breach">How to Protect Your Credit After the Equifax Breach</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-spot-a-credit-repair-scam">How to Spot a Credit Repair Scam</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/what-to-do-when-you-suspect-a-scam">What to Do When You Suspect a Scam</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance banking breach Equifax fraud identity theft mail fraud protection scams stolen credit cards warning signs Tue, 03 Oct 2017 08:00:08 +0000 Carrie Kirby 2029964 at http://www.wisebread.com Money a Mess? Try This Personal Finance Starter Kit http://www.wisebread.com/money-a-mess-try-this-personal-finance-starter-kit <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/money-a-mess-try-this-personal-finance-starter-kit" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/businessman_getting_ready_for_race_on_the_track.jpg" alt="Businessman getting ready for race on the track" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>I recently joined a meal delivery kit service, which has completely changed my cooking game. Every week, I receive a couple of boxes of pre-chopped and presorted fresh ingredients, along with a step-by-step recipe that helps me get a meal on the table in under 30 minutes. (See also: <a href="http://www.wisebread.com/are-meal-prep-subscription-boxes-worth-it?ref=seealso" target="_blank">Are Meal Prep Subscription Boxes Worth It?</a>)</p> <p>As I put together one of these meals last week, I started wondering why we haven't applied this concept to money yet. Where is the deliverable personal finance starter kit that will make handling your finances as easy as putting a quick and delicious meal on the table?</p> <p>Since we probably won't be seeing any &quot;Hello Cash&quot; or &quot;Green Apron&quot; boxes arriving in our homes anytime soon, I figured I could take matters into my own hands and create such a starter kit for adult-level finances. Here are the specific &quot;ingredients&quot; you need to go from broke to bank.</p> <h2>What you need: A checking account</h2> <p>Opening a checking account is the first step to conquering your adult-level finances. That's because having a bank hold onto your money is the safest and least expensive way for you to access and spend it. Putting your money in a checking account gives you several benefits:</p> <ul> <ul> <li> <p>Security and protection of your money: Up to $250,000 of your money is <a href="http://www.wisebread.com/what-you-need-to-know-about-the-fdic" target="_blank">FDIC insured</a> by banks and NCUA insured by federal credit unions, meaning you do not have to worry that your money will be wiped out if the banking institution fails. State-chartered credit unions are backed by private insurers. (See also: <a href="http://www.wisebread.com/heres-the-difference-between-a-federal-and-non-federal-credit-union?ref=seealso" target="_blank">Here's the Difference Between a Federal and Non-Federal Credit Union</a>)</p> </li> </ul> </ul> <ul> <li> <p>Free check cashing: Without a checking account, it is nearly impossible to cash a check without having to pay a fee, and those fees can take up to 3 percent of the value of the check. It's tough to get ahead financially if you have to pay to access your own money.</p> </li> </ul> <ul> <li> <p>Free bill pay: A checking account gives you access to paper checks and online bill pay. Without such an account, you will have to pay your bills with money orders, which also cost as much as $1 per money order. (See also: <a href="http://www.wisebread.com/5-reasons-paper-checks-are-still-relevant?ref=seealso" target="_blank">5 Reasons Paper Checks Are Still Relevant</a>)</p> </li> </ul> <ul> <li> <p>Access to a debit card: We live in a digital world, and it can be very difficult to handle your finances without a debit card or credit card. The majority of checking accounts these days come with a check card, which allows you to use your debit card like a credit card. (See also: <a href="http://www.wisebread.com/debit-or-credit-which-one-should-you-choose-at-the-checkout?ref=seealso" target="_blank">Debit or Credit? Which One Should You Choose at the Checkout?</a>)</p> </li> </ul> <p>To find the best checking account for you, consider your needs ― do you need an account with a low minimum balance, or do you plan to keep a high balance and want to earn some interest? Will an online bank cover all of your needs, or do you need a local branch? How often will you need to access the ATM? (See also: <a href="http://www.wisebread.com/8-ways-to-make-sure-you-never-pay-an-atm-fee?ref=seealso" target="_blank">8 Ways to Make Sure You Never Pay an ATM Fee</a>)</p> <p>Taking the time to find a checking account and bank that will fit your financial needs will help you keep more money where it belongs ― in your account and in your wallet.</p> <h2>What you need: A savings account</h2> <p>The next financial ingredient you need is a savings account. While the interest rates on savings accounts are still depressingly low, that does not change the fact that an FDIC or NCUA-insured savings account serves as the foundation for financial planning for the future. Here's why.</p> <ul> <li> <p>It makes it easier to <a href="http://www.wisebread.com/7-reasons-you-really-need-to-pay-yourself-first-seriously" target="_blank">pay yourself first</a>: It's very hard to save money without a place to put it that is separate from your checking account. Opening a savings account gives you a more difficult-to-access spot for your money to grow. (See also: <a href="http://www.wisebread.com/4-easy-to-fix-reasons-your-savings-account-isnt-growing?ref=seealso" target="_blank">4 Easy-to-Fix Reasons Your Savings Account Isn't Growing</a>)</p> </li> <li> <p>It can serve as your emergency fund: Financial hiccups, mistakes, and emergencies can hit anyone at any time. The difference between a financial emergency just being a nuisance and it becoming a catastrophe comes down to whether or not you have <a href="http://www.wisebread.com/a-step-by-step-guide-to-creating-your-emergency-fund" target="_blank">an emergency fund</a>. Without one, you will be left scrambling to find money. With one, your emergency fund can simply absorb the cost of the emergency without affecting your usual spending. (See also: <a href="http://www.wisebread.com/where-to-turn-for-help-when-you-dont-have-an-emergency-fund?ref=seealso" target="_blank">Where to Turn for Help When You Don't Have an Emergency Fund</a>)</p> </li> </ul> <p>While it may be easy to open a savings account with the same bank where you already have a checking account, you might want to consider an account at a different bank. This can help keep the money out of your reach if you're likely to spend it, and could possibly get you a better interest rate, especially if you're willing to put your savings into an online bank. (See also: <a href="http://www.wisebread.com/the-pros-and-cons-of-keeping-all-your-accounts-in-one-bank?ref=seealso" target="_blank">The Pros and Cons of Keeping All Your Accounts in One Bank</a>)</p> <p>Of course, opening a savings account is not enough. You need to actually use it regularly. The trick to getting the most out of your savings account is to set up regular, automatic transfers into it, so that your savings will grow without you having to think about it. (See also: <a href="http://www.wisebread.com/earn-more-interest-by-reducing-savings-friction?ref=seealso" target="_blank">Earn More Interest by Reducing Savings Friction</a>)</p> <h2>What you need: A simple budget</h2> <p>Once you have a checking account, a savings account, and automatic transfers into savings, then you are ready for the next ingredient: your budget.</p> <p>This is often the portion of financial adulting that makes the fainthearted run screaming into the distance. But budgeting is really about organizing your money so that you can spend it on the things that matter and scrimp on the things that don't.</p> <p>The basis of budgeting is keeping track of your income and expenses. There are several ways to do this without having to break out a spreadsheet. You can use sites like Mint.com to track your spending for you and declutter the financial information coming in to you so that it's easier to track. (See also: <a href="http://www.wisebread.com/build-your-first-budget-in-5-easy-steps?ref=seealso" target="_blank">Build Your First Budget in 5 Easy Steps</a>)</p> <p>When you have a decent idea of what you bring in and what you spend, then it's time to start managing your funds so that you spend less than you earn. How you manage your money is up to you, but the main idea is to save your splurges for the things you really value, and cut back your spending everywhere else. (See also: <a href="http://www.wisebread.com/how-to-manage-your-money-no-budgeting-required?ref=seealso" target="_blank">How to Manage Your Money &mdash; No Budgeting Required</a>)</p> <h2>What you need: A Roth IRA</h2> <p>Your financial life is really starting to look good at this point, so it's time to add the next ingredient: a Roth IRA. This tax-advantaged retirement account is a great way to save for your future.</p> <p>Roth IRAs are funded with post-tax dollars, which means you will not get a tax break when you make a contribution ― but any investment gains can be withdrawn tax-free anytime after age 59&frac12;. Since it's very likely that you'll be in a higher tax bracket by then, this makes the Roth IRA a great deal for newly-minted financial adults. You may contribute up to $5,500 per year to your Roth IRA, and there is no age limit on contributions since you will never be forced to take minimum required distributions on this account, unlike traditional IRAs and 401(k)s. (See also: <a href="http://www.wisebread.com/which-retirement-account-is-right-for-you?ref=seealso" target="_blank">Which Retirement Account Is Right for You?</a>)</p> <p>In addition, you can access up to $10,000 of your earnings penalty-free from your Roth IRA to put toward buying your first home. You may also access your principal at any time without having to pay a penalty, which is not possible with traditional IRAs and 401(k)s.</p> <p>That being said, if you do have access to a 401(k) retirement savings account at work and there is an employer match for your contributions, you will want to make sure you contribute up to the full employer match before funding your Roth IRA. The employer match is free money, after all. (See also: <a href="http://www.wisebread.com/7-retirement-planning-steps-late-starters-must-make?ref=seealso" target="_blank">7 Retirement Planning Steps Late Starters Must Make</a>)</p> <p>The best way to make sure you max out your Roth IRA contributions is to make them completely automated, just like your savings.</p> <h2>The optional garnish: A rewards credit card</h2> <p>At this point, your adult-level finances should be working well and taking good care of you. The next level of financial expertise is to start using your regular spending to help you achieve more of your financial goals. You can do this with a <a href="http://www.wisebread.com/best-rewards-credit-cards-for-newbies" target="_blank">rewards credit card</a> that rewards you for your regular spending. With savvy use of such cards, you can earn anything from <a href="http://www.wisebread.com/5-steps-to-picking-the-best-airline-credit-card-for-the-most-rewards-value" target="_blank">flights</a> to <a href="http://www.wisebread.com/the-best-credit-cards-for-hotel-deals-and-rewards" target="_blank">hotel stays</a> to plain old <a href="http://www.wisebread.com/5-best-cash-back-credit-cards" target="_blank">cash back</a>.</p> <p>But, there is a reason why this is an optional garnish, rather than one of the main ingredients of financial adulthood. Banks and credit card companies don't offer rewards cards to be nice to their customers ― credit card rewards can make even the most frugal financial grown-up forget their budget limitations. If you are able to pay off your credit card in full each month and just reap the free rewards, then a rewards credit card can be a delicious topper to your financial adulthood. (See also: <a href="http://www.wisebread.com/how-to-escape-reward-card-spending-traps?ref=seealso" target="_blank">How to Escape Reward Card Spending Traps</a>)</p> <p>If, on the other hand, you know that you will struggle to pay off your balance every month, then feel free to enjoy your financial adulthood sans rewards credit card. It's not a necessary part of your financial starter kit ― it just makes for a nice addition. (See also: <a href="http://www.wisebread.com/6-smart-reasons-to-pay-your-credit-card-bill-before-its-due?ref=seealso" target="_blank">6 Smart Reasons to Pay Your Credit Card Bill Before It's Due</a>)</p> <h2>Whipping up a financial adulthood</h2> <p>While it would be convenient if you could order a financial adulthood starter kit to show up at your doorstep, it's actually pretty simple to put together one of your own. Just know the basic ingredients you need, find the ones that work best for you, be consistent ― and, voilà! You'll go from broke to bank before you know it.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fmoney-a-mess-try-this-personal-finance-starter-kit&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FMoney%2520a%2520Mess-%2520Try%2520This%2520Personal%2520Finance%2520Starter%2520Kit.jpg&amp;description=Money%20a%20Mess%3F%20Try%20This%20Personal%20Finance%20Starter%20Kit"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/Money%20a%20Mess-%20Try%20This%20Personal%20Finance%20Starter%20Kit.jpg" alt="Money a Mess? Try This Personal Finance Starter Kit" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/emily-guy-birken">Emily Guy Birken</a> of <a href="http://www.wisebread.com/money-a-mess-try-this-personal-finance-starter-kit">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-4"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-money-rules-every-working-adult-should-know">10 Money Rules Every Working Adult Should Know</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/dont-start-a-family-before-reaching-these-5-money-goals">Don&#039;t Start a Family Before Reaching These 5 Money Goals</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/11-ways-to-prepare-for-your-best-black-friday">11 Ways to Prepare for Your Best Black Friday</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-money-moves-that-ll-protect-you-during-the-next-recession">7 Money Moves That’ll Protect You During the Next Recession</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-brilliant-money-moves-you-should-make-on-january-1">5 Brilliant Money Moves You Should Make on January 1</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance banking budgeting cash back checking account emergency funds money moves retirement rewards Roth IRA saving money savings account starter kit Tue, 22 Aug 2017 09:00:05 +0000 Emily Guy Birken 2006372 at http://www.wisebread.com Build a Secure Future Starting With Your Next Paycheck http://www.wisebread.com/build-a-secure-future-starting-with-your-next-paycheck <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/build-a-secure-future-starting-with-your-next-paycheck" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/check_remote_deposit_capture_at_cafe.jpg" alt="Check Remote Deposit Capture at Cafe" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>If you've been putting off the inevitable with your money &mdash; finally getting your finances in order &mdash; now's your chance. Take advantage of that next paycheck coming in, and make these smart money moves.</p> <h2>1. Increase your savings and debt repayment, even by a little</h2> <p>Ideally you've been portioning out your paychecks to cover your monthly expenses, throw a little into savings, and pay down whatever consumer debt you've racked up. On your next payday, it's a smart move to increase (even by a small amount) the percentage you allocate toward savings and debt repayment. Every little bit will help provide you with more of a rainy-day cushion and chip away at nagging debt.</p> <p>If you have credit card debt, focus on your highest-interest card first, and go from there. This strategy, also known as the avalanche method, will save you the most money in the long run on interest payments. (See also: <a href="http://www.wisebread.com/the-fastest-method-to-eliminate-credit-card-debt?ref=seealso" target="_blank">The Fastest Method to Eliminate Credit Card Debt</a>)</p> <p>You may have to cut a discretionary item from your budget &mdash; like a night out with your pals &mdash; to afford this responsible increase. You're an adult, and it's time to start managing your money like one.</p> <h2>2. Investigate your life insurance options</h2> <p>There are plenty of cases to make for taking out a life insurance policy, but the most important one is so your spouse and children can get through the first few years after your untimely death. This is not a fun subject to think about, but it's a necessity. If you should suddenly pass away, you will want to leave your family as well taken care of as possible.</p> <p>If you're single without a mortgage, life insurance probably doesn't need to be a priority when you can put your money somewhere more useful &mdash; like a 401(k). But heads of households absolutely need to have this money move on their radar, if not at the top of their list. (See also: <a href="http://www.wisebread.com/5-reasons-why-life-insurance-isnt-just-for-old-people?ref=seealso" target="_blank">5 Reasons Why Life Insurance Isn't Just for Old People</a>)</p> <h2>3. Set up new accounts for automated savings</h2> <p>In all likelihood, you have a single savings account &mdash; but if you have a hard time managing your money, perhaps one isn't enough. In fact, Kevin, creator of Financial Panther, goes so far as to suggest multiple accounts to which you can automate your savings. By putting this concept into practice, he was able to pay off $87,000 of student loan debt in two and a half years.</p> <p>&quot;If people have a matching 401(k) for work, they should try to put as much as they can into that right off the bat, and try to increase it little by little each paycheck,&quot; Kevin says. &quot;From there, I like to set up multiple accounts where I can send my money to. I have accounts for short-term savings goals, long-term, and a Roth IRA, which I contribute money to since I max out my 401(k) each year. I also have micro-savings apps working for me, which take out extra money from my checking account based on algorithms they have &hellip; and stores that money in a separate account.&quot;</p> <p>The money Kevin is left with is what he considers his &quot;true&quot; income. His multiple savings account method creates barriers for him to access his money, in turn making it harder to spend on frivolous things. (See also: <a href="http://www.wisebread.com/build-savings-faster-with-a-multiple-account-strategy?ref=seealso" target="_blank">Build Savings Faster With a Multiple Account Strategy</a>)</p> <h2>4. Invest in self-improvement</h2> <p>Fact: You can earn more money in your career when you have more relevant skills. Thus, investing in yourself is just as important as saving or paying off debt. The return on investment can be exponential if what you're learning is valuable and you put it to work for you. This can be as simple as brushing up on networking, or taking continuing education courses at your local community college. (See also: <a href="http://www.wisebread.com/11-ways-a-professional-association-can-boost-your-career?ref=seealso" target="_blank">11 Ways a Professional Association Can Boost Your Career</a>)</p> <h2>5. Get that emergency fund back on track</h2> <p>Maybe you've recently had a crisis and you needed to pull money from your emergency fund. Or, maybe you've just had more important and costly bills to pay in the meantime that have disrupted your savings. Whatever the case, start building this fund again, even if it's just small contributions here and there. You owe it to yourself to be prepared for the unexpected, and you don't want to have to reach for a high-interest credit card to bail yourself out of a problem. (See also: <a href="http://www.wisebread.com/6-fast-ways-to-restock-an-emergency-fund-after-an-emergency?ref=seealso" target="_blank">6 Fast Ways to Restock an Emergency Fund After an Emergency</a>)</p> <h2>6. Switch banks if yours isn't the best place for your money</h2> <p>One of the worst financial habits is sticking with the same bank, even if it's not the best choice for your money. If you've been contemplating switching institutions recently, use your next paycheck to give the move serious thought. Maybe your savings can earn more elsewhere, and if you're lucky, you can find a high-yield checking account and other incentives &mdash; like a couple hundred dollars in free money &mdash; just for making the move. (See also: <a href="http://www.wisebread.com/how-to-switch-banks?ref=seealso" target="_blank">How to Switch Banks</a>)</p> <h2>7. Make a move to get ahead</h2> <p>If you're lamenting on a regular basis that you never have enough money for this or that, sit down next payday and consider your options. How can you increase your income? How can you bump up your savings and retirement contributions? If this isn't possible with your current take-home pay, it's probably time to weigh your options.</p> <p>Should you start looking for a new, higher-paying job? Should you go back to school to learn a new skill? Do you have time to add a side-gig to your schedule, like <a href="https://uber.7eer.net/c/27771/207645/3437?sharedid=000_wisebread.com">driving for Uber</a> or Lyft, or pet sitting via Rover.com? These are all options you have; you just have to want them bad enough. (See also: <a href="http://www.wisebread.com/14-best-side-jobs-for-fast-cash?ref=seealso" target="_blank">14 Best Side Jobs for Fast Cash</a>)</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/Build%20a%20Secure%20Future%20Starting%20With%20Your%20Next%20Paycheck.jpg" alt="Build a Secure Future Starting With Your Next Paycheck" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/mikey-rox">Mikey Rox</a> of <a href="http://www.wisebread.com/build-a-secure-future-starting-with-your-next-paycheck">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-personal-finance-rules-to-live-by-in-your-40s">6 Personal Finance Rules to Live By in Your 40s</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-reasons-why-financial-planning-isnt-just-for-the-wealthy">6 Reasons Why Financial Planning Isn&#039;t Just for the Wealthy</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/when-to-use-savings-to-pay-off-debt">When to Use Savings to Pay Off Debt</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/15-smart-things-you-can-do-with-your-finances-even-if-youre-broke">15 Smart Things You Can Do With Your Finances, Even if You&#039;re Broke</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/are-you-putting-off-these-9-adult-money-moves">Are You Putting Off These 9 Adult Money Moves?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance banking debt repayment emergency fund life insurance money moves paycheck payday savings self improvement Mon, 21 Aug 2017 08:00:06 +0000 Mikey Rox 2005635 at http://www.wisebread.com Boost Your Savings by Making Your Money Harder to Spend http://www.wisebread.com/boost-your-savings-by-making-your-money-harder-to-spend <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/boost-your-savings-by-making-your-money-harder-to-spend" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/protect_your_saving.jpg" alt="Protect your saving" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>When I left for my freshman year of college, I brought the graduation gift money I'd received with me. It was about $1,000, and I was carrying it in cash, intending to open a checking account. The cash never made it to the bank, however.</p> <p>It wasn't stolen, nor did I lose it. In fact, I tucked the envelope of twenties away in a secure location in my dorm room &mdash; but I neglected to protect the money from myself.</p> <p>From trips to the coffee shop to late night pizza delivery, I let that money flow through my fingers without paying any attention to where it was going or how quickly I was spending it. By the time I finally decided to open an account, there was less than $100 left.</p> <p>My experience is hardly unique. Most people have a similar story of squandering money because it was too easy to access the cash.</p> <p>The trick to being more careful with money is finding ways to make it harder to spend. If I had placed that cash in a checking account as soon as I got to campus, I would have had to walk to the ATM to make my unnecessary purchases &mdash; which would have been more than enough to prevent most of my spending.</p> <p>These days, simply depositing cash in the bank is not enough to make money harder to spend. The availability of mobile banking, debit and credit cards, and one-click online shopping makes money even easier to spend than it was when I was a first-year college student. That's why it is so important to productively reduce access to your money. Here are five ways you can protect your money from your own worst spending impulses. (See also: <a href="http://www.wisebread.com/7-bizarre-ways-to-stay-on-budget-that-actually-work?ref=seealso" target="_blank">7 Bizarre Ways to Stay on Budget (That Actually Work)</a>)</p> <h2>1. Stop carrying credit or debit cards</h2> <p>Going out sans credit or debit card can feel weirder than going about your day naked, but it can be a very effective way to curb your spending. On most days, you probably don't actually need to have a card with you &mdash; it's just there in case you need it. Unfortunately, we then often &quot;need&quot; to stop for lunch, or in a favorite store, or meet everyone after work for happy hour rather than save the card for a legitimate need.</p> <p>To make sure you are covered in case you need to fill up your tank on the way to work, or you encounter another true spending need, get in the habit of carrying $20 or so while leaving your plastic at home. This helps limit your ability to buy things while still giving you access to a little money in case you need it.</p> <h2>2. Move your savings to another bank</h2> <p>Trying to build an emergency fund or reach another savings goal can be difficult if access to your money is too easy. Having a savings account linked to your checking account in the same bank can often be too much of a temptation. It's so easy to dip into that savings account whenever your checking account is running dry or there is an incredible sale.</p> <p>For many people, just making it <em>slightly </em>more difficult to access savings can be enough to stop this behavior. For instance, you can move your savings account to a different bank and establish a link between the two banks. While it's possible to move money between accounts in different banks, it generally takes two to three business days for the money to transfer, which can be inconvenient enough to foil your spending impulses.</p> <h2>3. Put your money in a restrictive savings vehicle</h2> <p>For some people, the inconvenience of separate banking institutions is not quite enough to stop them from accessing their savings when they shouldn't. Restrictive savings vehicles &mdash; accounts or assets that penalize you for early access &mdash; can be a great way to protect your money from yourself in that case.</p> <p>Depending on your time frame, there are a couple of different types of savings vehicles you might choose.</p> <h3>Certificate of deposit (CD)</h3> <p>This is a savings vehicle that requires you to commit to keeping your money in the account for a set period of time. If you withdraw the funds earlier, then you will be penalized. You can generally expect to pay three-to-six months' worth of accrued interest if you access the money early, although some CDs also take a percentage of the principal.</p> <h3>Traditional individual retirement accounts (IRAs)</h3> <p>Traditional IRAs offer tax advantages, which means there are penalties for dipping into them before you reach age 59 &frac12;. Specifically, you will have to pay taxes on both the distribution, as well as 10 percent of the amount of the distribution, to Uncle Sam.</p> <h2>4. Enlist an accountability partner</h2> <p>While it's pretty easy to break a promise to yourself, it's harder to break one you have made to another person. One method of making your money harder to spend is to enlist a friend or loved one as your accountability partner, to whom you will set up a credit card or bank statement alert. Many banks offer automated alert systems that will email or text you when your available credit dips below a certain amount or when a large transaction clears.</p> <p>This information is useful to the cardholder, but it can be a great way to keep you from spending money if you send that information to your accountability partner. Knowing that your partner will immediately know that you have broken your promise can be enough to keep you from whipping out your wallet.</p> <h2>5. Remove your payment information from online retailers</h2> <p>It is far too easy to buy something without really thinking about it when online retailers &quot;helpfully&quot; store our credit card or bank information for us. The minor inconvenience of having to get up and find your wallet is generally enough time for you to reconsider your purchase.</p> <p>When you can go from not knowing an item exists, to coveting it, to buying it in under 30 seconds, having just a little bit of time for a gut check on whether or not you need this purchase is crucial. Because if you want to buy something, but getting up to find your wallet doesn't feel worth it, then it's probably not a great use of your money.</p> <h2>Save your money from yourself</h2> <p>You are not the same person at every hour of the day. You contain multitudes, and often your goals and your impulses cause you to contradict yourself. Making your money harder to spend will ensure that the high-roller part of yourself doesn't bankrupt the saver part of yourself. You'll thank yourself later. (See also: <a href="http://www.wisebread.com/9-simple-ways-to-stop-impulse-buying?ref=seealso" target="_blank">9 Simple Ways to Stop Impulse Buying</a>)</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/emily-guy-birken">Emily Guy Birken</a> of <a href="http://www.wisebread.com/boost-your-savings-by-making-your-money-harder-to-spend">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/is-an-all-cash-diet-right-for-you">Is an All-Cash Diet Right for You?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/boost-your-savings-with-this-easy-budgeting-system">Boost Your Savings With This Easy Budgeting System</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-money-moments-that-should-be-on-everyones-bucket-list">8 Money Moments That Should Be On Everyone&#039;s Bucket List</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-money-goals-you-should-set-for-the-holidays">10 Money Goals You Should Set for the Holidays</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-things-every-single-person-needs-to-do-with-their-money">5 Things Every Single Person Needs to Do With Their Money</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance accountability banking cash impulse buys online shopping overspending protecting money saving money Mon, 19 Jun 2017 08:00:09 +0000 Emily Guy Birken 1965738 at http://www.wisebread.com 4 Ways Your Credit Union Is Changing — for the Better http://www.wisebread.com/4-ways-your-credit-union-is-changing-for-the-better <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/4-ways-your-credit-union-is-changing-for-the-better" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_bank_teller_636202058.jpg" alt="Woman learning ways her credit union is changing for the better" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Most of us understand the advantages offered by banking with credit unions, including better interest rates and customer service compared to their major bank peers. But even the savviest among us can learn new tricks, and to that end, CO-OP&rsquo;s 2017 THINK Conference highlighted some of the critical ways in which the credit union industry is changing &mdash; for the better. We also caught up with financial experts like Jean Chatzky and Bobbi Rebell at the conference, where they shared some key insights into the types of transformations you might be seeing soon at your local credit union.</p> <h2>It's instituting mobile apps</h2> <p>You might&rsquo;ve already noticed your local credit union instituting new technologies, such as mobile apps enabling remote deposits and mobile payments. This is part of an industrywide push to provide more customer-centric solutions utilizing the latest in mobile technologies. Expect more additions to mobile offerings in a bid to make your experience more efficient.</p> <h2>It's going digital to be more agile</h2> <p>Financial expert, author, and TV host Bobbi Rebell noted that, in addition to instituting mobile apps, credit unions are taking additional steps to create a digital-first platform for customers. But unlike big banks, which have a history of older, legacy customer platforms, credit unions are smaller and more agile, enabling them to build customer-focused digital experiences from the ground up.</p> <p>&ldquo;Digital transformation isn&rsquo;t just about implementing digital experiences here and there,&rdquo; says Rebell, &ldquo;It&rsquo;s really about rethinking the entire customer experience so that digital technologies improve their overall experience.&rdquo;</p> <h2>It's promoting more women</h2> <p>Samantha Paxson, executive vice president and chief marketing officer of Co-Op Financial Services, notes that this lean, agile mentality not only enables credit unions to provide better customer service, but it also allows more women into leadership ranks.</p> <p>&ldquo;Credit unions are one of the few areas of the financial industry where women are represented in significant percentages in leadership. That&rsquo;s because key elements of female leadership &mdash; such as empathy and strong communication skills &mdash; are essential to the success of credit unions in the community.&rdquo;</p> <h2>It's staying true to your community</h2> <p>One of the personal finance world&rsquo;s biggest luminaries, Jean Chatzky of <em>Today Show</em> fame, was on hand to help host the THINK Conference, noting the importance of credit unions to the lives of so many people in communities across the country. And perhaps that&rsquo;s one of the biggest take-aways here: mobile apps, new digital platforms, and other innovations you can expect from your credit union are all designed to get closer to your needs. Credit unions aren&rsquo;t losing their local focus, nor will their digital innovations present a less human experience for their customers. Unlike other segments of the financial industry, credit unions are trying hard to stay true to their roots: you.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/janet-alvarez">Janet Alvarez</a> of <a href="http://www.wisebread.com/4-ways-your-credit-union-is-changing-for-the-better">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-benefits-and-drawbacks-of-credit-unions">The Benefits and Drawbacks of Credit Unions</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/capital-one-360-review">Capital One 360: A Competitive Banking Option</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/credit-unions-vs-banks-whats-the-difference">Credit Unions vs. Banks: What&#039;s the Difference?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-good-reasons-to-choose-a-credit-union-instead-of-a-bank">9 Good Reasons to Choose a Credit Union Instead of a Bank</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/reach-your-money-goals-faster-with-a-simple-naming-trick">Reach Your Money Goals Faster With a Simple Naming Trick</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Banking bank accounts banking banks credit unions local credit union saving money Mon, 22 May 2017 22:06:53 +0000 Janet Alvarez 1952546 at http://www.wisebread.com 4 Ways Your Money Can Support Your Values http://www.wisebread.com/4-ways-your-money-can-support-your-values <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/4-ways-your-money-can-support-your-values" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-511213377.jpg" alt="Woman learning how money can support her values" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Giving to charity is an important line item in my family budget &mdash; but it's only one line. There are far more charitable organizations that I want to support than I can possibly give money to.</p> <p>But what if there were a way to support your values without having to free up more money to give to charity? In fact, there is a way. You can do the same things you always do with your money &mdash; bank it, invest it, spend it on utilities, and shop &mdash; all while providing important financial benefits to the causes you care about.</p> <h2>Socially responsible robo-investing</h2> <p>I'll never forget the stricken look on my financial adviser's face when I told him I was uncomfortable with big oil, tobacco, or firearms as investments in my retirement portfolio. He took a deep breath and told me that I would probably have to be a little flexible about that if I wanted to maintain my passive investment strategy. The only other option would be to individually choose the investments I wanted so that my money was aligned with my values. Not only would that be expensive and time consuming (someone would have to do the stock picking), but it would not necessarily grow my money.</p> <p>Passive investors like me now have the option of investing in funds that only go to companies we approve of. The new robo adviser <a href="https://www.openinvest.co/" target="_blank">OpenInvest</a> offers investors the ability to personalize the specific issues they care most about. You simply create an &quot;issue profile&quot; that narrows down the types of companies you would either like to invest in or steer clear of. The robo adviser's algorithm then creates a basket of about 60 stocks that match your values and <em>should </em>match the returns of the broader market.</p> <p>Your money grows just like it would with any investment, but you are supporting companies that reflect your values. (See also: <a href="http://www.wisebread.com/5-stocks-to-buy-if-you-love-the-earth?ref=seealso" target="_blank">5 Stocks to Buy If You Love the Earth</a>)</p> <h2>Cellphone activism</h2> <p>It's hard to imagine life without your cellphone &mdash; which makes it an excellent tool to help support your values. Simply changing your cellphone provider can make paying your bill part of your activism.</p> <p>Whether your politics align left or right, you can switch to an activist cellphone carrier that will use a portion of their profits to fund important causes. <a href="http://www.credomobile.com/" target="_blank">Credo Mobile</a> is a mobile and long distance provider that has donated $83 million to various progressive nonprofit groups since its inception in 1985. On the right, <a href="https://www.patriotmobile.com/" target="_blank">Patriot Mobile</a> offers conservatives the opportunity to choose the organization that a portion of their monthly phone bill will be donated to.</p> <p>In both cases, the mobile carrier allows you to keep your phone and phone number when you make the switch. You are already paying for your cellphone usage; why not have the money fund causes you care about?</p> <h2>Shop your values</h2> <p>Amazon has become the most convenient way to handle shopping in the modern age, but did you know it can also be the most convenient way for you to donate to charities you love?</p> <p><a href="https://smile.amazon.com/ref=nav_logo" target="_blank">AmazonSmile</a> is exactly like the Amazon store you already know, with the exact same prices and fees, and the exact same login you already use. But when you sign on with AmazonSmile, you are allowed to choose any one of over a million 501(c)(3) charitable organizations to benefit from your shopping. Each time you make a purchase, AmazonSmile gives 0.5 percent of the purchase price to your charity.</p> <p>While not all purchases are eligible for AmazonSmile, the vast majority are. In addition, there are occasionally limited-time special promotions that increase the donation percentage.</p> <p>Once you have signed up with AmazonSmile, just make sure you start any Amazon shopping from that page to keep your donations going to your favorite charity whenever you shop.</p> <h2>#BankBlack revitalizes communities</h2> <p>You might remember seeing the rapper Killer Mike on MTV in 2016 asking 1 million people to open a savings account with a black-owned banking institution. That helped start the #BankBlack movement, which is credited with bringing $50 million in new deposits to black-owned banks over a six-month span in 2016, according to the Huffington Post.</p> <p>But banking with a black-owned financial institution is more than just a hashtag. These institutions were once the only places where African Americans could expect fair treatment when discrimination was rampant in the banking industry. Nowadays, black-owned banks offer access to necessary banking services in distressed neighborhoods, while also providing economic revitalization.</p> <p>Since black-owned banks specifically market to the African American communities that are disproportionately unbanked or underbanked &mdash; meaning they rely on check cashing services and pawnshops for their banking needs &mdash; opening an account with a black-owned bank is an excellent way to put your money to work for social justice.</p> <p>The Blackout Coalition offers a <a href="http://blackoutcoalition.org/black-u-s-banks/" target="_blank">map of black-owned banks and credit unions</a> across the United States, so you can find one near you. Alternatively, if you are not in an area with a local black-owned bank, <a href="https://www.oneunited.com/" target="_blank">OneUnited</a> is an online bank that is also the nation's largest black-owned bank.</p> <h2>Put your money where your values are</h2> <p>Not everyone has money in the budget to support the social programs they are most passionate about. But making a few tweaks to how you bank, invest, call, and shop will allow you to make the world a better place without spending any more money. You'll feel good about how your money represents your values, and your favorite causes will benefit from your choices. It's a win-win.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/emily-guy-birken">Emily Guy Birken</a> of <a href="http://www.wisebread.com/4-ways-your-money-can-support-your-values">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/ten-great-charities-that-deserve-your-dollars-this-year">Ten Great Charities that Deserve Your Dollars This Year</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/charitable-giving-give-in-order-to-receive">Charitable Giving: Give in Order to Receive</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-foolproof-ways-to-protect-your-money-from-inflation">4 Foolproof Ways to Protect Your Money From Inflation</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/manage-your-charitable-giving">Manage your charitable giving</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/this-post-really-suk-kuks-examining-islamic-finance">This Post Really Suk-kuks: Examining Islamic Finance</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Banking Investment activism amazon smile banking black owned businesses cellphones charity donations giving politics social causes values Tue, 25 Apr 2017 08:30:08 +0000 Emily Guy Birken 1931274 at http://www.wisebread.com 4 Big Business Accounting Tools Every Side Gig Needs http://www.wisebread.com/4-big-business-accounting-tools-every-side-gig-needs <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/4-big-business-accounting-tools-every-side-gig-needs" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-505095190.jpg" alt="every side business needs these accounting tools" title="" class="imagecache imagecache-250w" width="250" height="141" /></a> </div> </div> </div> <p>While side gigs are becoming an increasingly common way for Americans to bring in extra income, many people do not understand how that additional income can affect their taxes. If you're not prepared, freelancing or working on the side can lead to serious issues with the IRS, costing you thousands in penalties and fees.</p> <p>If you plan on taking business deductions for expenses, you'll need some tools to manage your reporting and minimize your tax headaches. Treat your side hustle like a small business. Below are four business tools you should use to keep your side gig from overwhelming your finances. (See also: <a href="http://www.wisebread.com/6-signs-its-time-to-make-your-side-gig-your-career?ref=seealso" target="_blank">6 Signs It's Time to Make Your Side Gig Your Career</a>)</p> <h2>1. Business bank account</h2> <p>If you have a side business, you should seriously consider opening a dedicated business bank account. It will make tracking your expenses and profits so much simpler, which makes tax time simpler as well.</p> <p>Keeping your business and personal finances separate is not just easier, it's also important. Should the IRS ever take a closer look, you want them to see a clear distinction between personal and business expenses, as well as all of the business income you've earned. Jumbling this together with your personal banking is a recipe for confusion and possible contention.</p> <p>Having a business bank account lends you more professional credibility, too. Asking a client to write a check to your business, for example, feels much more legitimate than having them make it out to your name.</p> <p>All of the business income you earn doesn't have to stay in your business bank account. You can pay yourself the appropriate amount after considering taxes and expenses. Simply transfer that money to your personal account, and leave the rest in your business account.</p> <h2>2. Business credit card</h2> <p>Similarly, it's a good idea to have a separate credit card you use solely for business expenses. (See also: <a href="http://www.wisebread.com/when-you-should-get-a-business-credit-card-over-a-consumer-card?ref=seealso" target="_blank">When You Should Get a Business Credit Card Over a Consumer Card</a>)</p> <p>By having a card solely for your side gig, you will be able to manage your business deductions quickly and accurately. When you do your taxes, or if you work with a tax professional, you just need your credit card statements to get an accurate picture of your expenses and deductions. Some business cards even offer special reporting tools that automatically itemize your spending for you. This can greatly streamline your accounting process and save you some trouble come tax time.</p> <p>Many business credit cards offer other unique benefits, such as <a href="http://www.wisebread.com/how-free-extended-warranties-work-on-credit-cards" target="_blank">extended warranty protection</a> and rewards targeted specifically for business-type purchases. They also tend to come with higher limits than personal credit cards. If you need to make a substantial business expense but don't want to dip into your own savings or take out a business loan, these higher limits can be a huge help. They're also a great way to build credit for your business, should you ever need a loan or other financing down the road. (See also: <a href="http://www.wisebread.com/the-5-best-credit-cards-for-small-businesses?ref=seealso" target="_blank">The 5 Best Credit Cards for Small Businesses</a>)</p> <h2>3. Invoicing system</h2> <p>While you can find free invoice templates online and create your own in Microsoft Word or Google Docs, it's a good idea to use a professional invoicing system. Invoicing software tracks clients, invoice numbers, and your profits. They are more accurate than something you create on your own, and they look more professional than the do-it-yourself approach.</p> <p>And you don't have to spend a lot of money to create polished invoices. There are a number of <a href="http://www.wisebread.com/5-free-accounting-tools-for-freelancers?ref=internal" target="_blank">free and low-cost bookkeeping programs</a> out there that are designed specifically for freelancers and side hustlers. <a href="https://pocketsuite.io/pricing/" target="_blank">PocketSuite</a>, <a href="https://www.freshbooks.com/" target="_blank">Freshbooks</a>, and <a href="https://www.waveapps.com/accounting/" target="_blank">Wave</a> are excellent and no-cost options that can help streamline your business management.</p> <h2>4. Tax professional</h2> <p>While many people opt to do their own taxes, when you add a side business to the mix, a tax professional can be a huge asset. When you're self-employed or freelancing, even on a part-time basis, you owe self-employment taxes, which can be complex and confusing. You'll receive forms 1099-MISC from any clients that have paid you more than $600 during the tax year. If you receive a 1099-MISC, you have to pay self-employment taxes. Not to mention if you add expenses in the mix, you'll want to make sure you are claiming the proper deductions.</p> <p><a href="http://www.wisebread.com/3-reasons-to-hire-a-tax-professional-even-if-you-dont-mind-the-work?ref=internal" target="_blank">Tax professionals</a> can help you navigate paying estimated quarterly taxes, or calculate how much money you need to withhold from your main job's salary to avoid paying quarterly taxes. They can also identify deductions and credits you may be eligible for, such as a home office or education deduction. These are substantial tax breaks that no self-employed individual should overlook. You want to be sure you're claiming any deductions or credits accurately in order to receive the maximum benefit possible. A tax pro can help you do this.</p> <p>By working with a professional, you'll have overall peace of mind and avoid any surprises at tax time.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/kat-tretina">Kat Tretina</a> of <a href="http://www.wisebread.com/4-big-business-accounting-tools-every-side-gig-needs">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-5"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-freelancers-can-make-sure-they-get-paid-on-time">8 Ways Freelancers Can Make Sure They Get Paid on Time</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-tax-mistakes-freelancers-need-to-stop-making">5 Tax Mistakes Freelancers Need to Stop Making</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/101-tax-deductions-for-bloggers-and-freelancers">101 Tax deductions for bloggers and freelancers</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-i-make-800-on-month-on-ebay-selling-used-clothes">How I Make $800 on Month on eBay Selling Used Clothes</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-you-can-earn-18-to-25-an-hour-with-amazon-flex">How You Can Earn $18 to $25 an Hour With Amazon Flex</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Entrepreneurship Taxes accounting audits banking business tools freelancing invoices side gig side hustle tax professional Fri, 21 Apr 2017 08:30:15 +0000 Kat Tretina 1931275 at http://www.wisebread.com 5 Tricky Interview Questions Successful CEOs Always Ask http://www.wisebread.com/5-tricky-interview-questions-successful-ceos-always-ask <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-tricky-interview-questions-successful-ceos-always-ask" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-505892722.jpg" alt="Woman learning tricky question CEOs ask" title="" class="imagecache imagecache-250w" width="250" height="141" /></a> </div> </div> </div> <p>If you're vying to get an exciting job run by a brilliant CEO, you may have to answer some pretty tough questions. If you want to stand out you'll have to have your response as polished as your suit. Here's a list of tricky interview questions some of the most successful CEOs ask.</p> <h2>1. &quot;Tell me the story of your life&quot;</h2> <p>The business acumen of serial entrepreneur Elon Musk is so impressive, it became the inspiration for Robert Downey Jr.'s big-screen portrayal of Iron Man's Tony Stark. The CEO of Tesla and SpaceX, and Chairman of SolarCity, is known for having job applicants explain their thought process behind solving a problem. But that isn't all he's interested in learning. While he does throw in questions about space travel and car manufacturing, he has revealed in several interviews one other very detailed interview question: &quot;Tell me the story of your life, and the decisions that you made along the way, and why you made them, and also tell me about some of the most difficult problems you worked on and how you solved them.&quot;</p> <p>Sound like a long conversation? Well, better have your life story all squared up! Previous job applicants recall that interviews with Musk are <a href="https://www.quora.com/Whats-it-like-to-have-a-job-interview-with-Elon-Musk/answer/Jeff-Nelson-32" target="_blank">highly conversational</a>.</p> <h2>2. &quot;What is your favorite property in Monopoly, and why?&quot;</h2> <p>According to renowned board game designer <a href="http://money.usnews.com/money/personal-finance/articles/2013/03/20/what-monopoly-can-teach-you-about-smart-investing" target="_blank">Philip Orbanes</a>, Monopoly teaches players of any age an understanding of the concept of diversification and offers practical training in managing money. (See also: <a href="http://www.wisebread.com/11-fun-games-that-make-you-smarter-too?ref=seealso" target="_blank">11 Fun Games That Make You Smarter, Too</a>)</p> <p>So, that's why Ken Moelis, founder and CEO of investment bank Moelis &amp; Co., loves asking this question during interviews to recent MBA graduates seeking midlevel positions. Why? Moelis strongly believes that to attract top talent, the investment and banking industry needs to update its hiring practices.</p> <p>&quot;Through innovation and creativity we need to actually underwrite the exceptional experience we are promoting,&quot; says Moelis. And with this question, he seeks to infuse that creativity into the process of assessing risks and rewards of financial assets.</p> <h2>3. &quot;If you had 10 years left to live, would you take this job?&quot;</h2> <p>Talk about commitment! But that's exactly what Airbnb CEO Brian Chesky is looking for in his job applicants. If you think this is a bit of an extreme, think again.</p> <p>&quot;Whatever you want to do in those last 10 years you should just do. I really want you to think about that, that was enough time for you to do something you really cared about and the answer doesn't have to be this company,&quot; <a href="https://genius.com/Alfred-lin-lecture-10-company-culture-and-building-a-team-part-i-annotated" target="_blank">explains Chesky</a>. Given that he interviewed the first 300 Airbnb employees and his company was valued at $30 billion in 2016, this CEO may be onto something about requiring that level of commitment from his employees &mdash; or at least that level of self awareness.</p> <h2>4. &quot;What didn't you get a chance to include on your resume?&quot;</h2> <p>When you're knighted by the Queen of England for your &quot;services to entrepreneurship,&quot; you probably know a thing or two about running a business and hiring the right people. Known for his extreme antics, Founder of Virgin Group Sir Richard Branson is no stranger to thinking outside of the box.</p> <p>&quot;Obviously a good CV is important, but if you were going to hire by what they say about themselves on paper, you wouldn't need to waste time on an interview,&quot; Branson wrote about his favorite interview question in his book <a href="http://amzn.to/2odTsyt" target="_blank">The Virgin Way: If It's Not Fun, It's Not Worth Doing</a>.</p> <p>He added in a LinkedIn post why he looks <a href="https://www.linkedin.com/pulse/20130923230007-204068115-how-i-hire-focus-on-personality" target="_blank">beyond qualifications</a>: &quot;I only look at them after everything else. If somebody has five degrees and more A grades than you can fit on one side of paper, it doesn't necessarily mean they are the right person for the job.&quot;</p> <h2>5. &quot;Sell me this pen&quot;</h2> <p>Some CEOs don't just want you to talk the talk, they want you to walk the walk. And that's precisely what Jordan Belfort, former CEO of brokerage firm Stratton Oakmont, would ask his job applicants to do.</p> <p>While the real life &quot;Wolf of Wall Street&quot; isn't the best example of business ethics, there's no denying his master salesmanship. Even after spending four years in federal prison and being mandated to restitue $110 million to his victims, Belfort was still able to command <a href="http://www.theaustralian.com.au/life/weekend-australian-magazine/whos-afraid-of-jordan-belfort-the-wolf-of-wall-street/story-e6frg8h6-1226906434759" target="_blank">up to $75,000</a> for a speaking fee in 2014.</p> <p>His classic interview question has been adopted by several recruiters beyond just the sales industry. Why? This question tests your ability in value-added sales skills (&quot;This pen has refillable ink cartridges so you never need to buy a new one&quot;) and solution-based sales skills (&quot;What color pen are you in the market for?&quot;).</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/damian-davila">Damian Davila</a> of <a href="http://www.wisebread.com/5-tricky-interview-questions-successful-ceos-always-ask">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-fastest-growing-jobs-that-didnt-exist-10-years-ago">10 Fastest Growing Jobs That Didn&#039;t Exist 10 Years Ago</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/12-questions-to-ask-before-you-take-a-job-offer">12 Questions to Ask Before You Take a Job Offer</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-questions-you-should-ask-at-every-job-interview">5 Questions You Should Ask at Every Job Interview</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-things-you-should-never-include-in-your-cover-letter">7 Things You Should Never Include in Your Cover Letter</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-jobs-that-pay-over-50k-and-dont-require-a-bachelors-degree">5 Jobs That Pay Over $50K and Don&#039;t Require a Bachelor&#039;s Degree</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Career and Income Job Hunting banking big companies CEO dream jobs interview questions resumes sales technology Tue, 04 Apr 2017 09:00:13 +0000 Damian Davila 1917877 at http://www.wisebread.com Reach Your Money Goals Faster With a Simple Naming Trick http://www.wisebread.com/reach-your-money-goals-faster-with-a-simple-naming-trick <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/reach-your-money-goals-faster-with-a-simple-naming-trick" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/boy_piggy_bank_33365082.jpg" alt="Boy reaching money goals faster with naming trick" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>I used to feel crushed by my to-do list. I could never complete all the tasks on the list according to my (unrealistic) schedule, so I always felt like a loser. Even when I did complete all the tasks on my daily list, I never felt the sense of accomplishment that I hoped for.</p> <h2>What Would Han Solo Do?</h2> <p>While researching a better way to manage my list, I stumbled across the concept of <a href="http://www.wikihow.com/Create-an-Effective-Action-Plan">action plans</a>. According to project managers who specialize in getting things done, to-do lists aren't particularly useful for a variety of reasons. Action plans lead to success. Learning to action plan was going to revolutionize my schedule!</p> <p>But then I got sidetracked, so I never got around to actually formulating an action plan. But it didn't matter. Just renaming my daily list of chores &quot;Plan of Action&quot; instead of &quot;To Do&quot; made me feel so much better about myself. I became more productive because I'd freed my brain from worry and made more space for creative thinking. Who writes to-do lists? Chumps, obviously. Who writes action plans? The architects of D-Day. The United Nations. Han Solo.</p> <p>Did Han Solo consult his to-do list before he shot first? No. He did not.</p> <h2>Is My Home Equity Line of Credit Half Full or Half Empty?</h2> <p>Currently, my husband and I are <a href="http://www.wisebread.com/my-2016-budget-challenge-why-i-need-to-find-31k-this-year">paying down a $15,000 loan</a> that we had to take out to replace the outgoing sewer line of our house. Plumbing is pretty much the least sexy way to spend money on home repair.</p> <p>Other than our home mortgages, this loan is, by far, our largest debt. And, I hate debt. Debt makes me feel unsafe and without choices. The lack of control attached to this debt specifically ticks me off. It's not like we had a choice in the matter. We didn't accrue this debt by doing something fun like taking a vacation we couldn't afford. We have this loan because our sewer line broke and we had to fix it.</p> <p>Since a simple name change made my to-do list feel more manageable, I wondered if renaming the sewer loan would make me feel less angry about paying down this debt.</p> <h2>First World Pooping</h2> <p>&quot;Oh, you're the one with the funny account names,&quot; says the bank teller as she completes my deposit. The HELOC that I had to take out to pay for the sewer line is now named &quot;First World Pooping.&quot;</p> <p>In my hours of grumpy rumination about how much I hate the sewer line loan, I had come to two realizations:</p> <ul> <li>About 60% of the world's population doesn't have indoor plumbing or even adequate sanitation. I have $15,000 in debt because my husband and I made the choice to repair our sewer line, instead of letting raw sewage drain into the dirt under our house. Six out of 10 people on the planet <a href="http://www.slate.com/blogs/future_tense/2013/02/22/_60_percent_of_the_world_population_still_without_toilets.html">can't choose to have a working toilet</a>.</li> </ul> <ul> <li>Although $15,000 is a huge chunk of change for me, 80% of the world's population&nbsp;<a href="http://www.globalissues.org/article/26/poverty-facts-and-stats">lives on less than $10 per day</a>, so just my ability to get an emergency loan for $15,000 puts me in the uppermost strata of wealth on the planet.</li> </ul> <p>In other words, my $15,000 sewer repair is a First World Problem. I may not like the cost of my choice, but I have enough financial control over my life that I can enjoy the privilege of flushing the toilet with drinking water.</p> <p>Paying down the sewer loan each month still gives me no pleasure, but I no longer resent this debt like I used to. By renaming the loan &quot;First World Pooping&quot; I get a monthly reminder to practice gratitude for my comfortable, First World life.</p> <h2>Motivated Savings</h2> <p>In addition to renaming my loans, I have renamed all my bank accounts to help me meet my financial goals. I am more inspired to put money into my &quot;OMG Retire Early!&quot; account than I ever was when it was just named &quot;Retirement.&quot; Socking away cash in my &quot;Escape Plan&quot; is somehow more fun than topping off my &quot;Emergency Fund.&quot; Who has emergency funds? People who are worried about future plumbing problems. Who has an &quot;Escape Plan?&quot; Han Solo.</p> <p>My account formerly known as &quot;Savings&quot; has been repeatedly renamed with the location of my next vacation. Every time I open up my bank records I get a positive push to save more money.</p> <h2>Obsessive Compulsive Labeling</h2> <p>I know this will come as a complete shock to anyone who reads this, but I have OCD. When I mentioned to my OCD support group that relabeling chores had a positive effect on my productivity, worldview, and bank account, I discovered that this brain hack is actually a fairly common <a href="https://www.psychologytoday.com/blog/in-practice/201301/cognitive-restructuring">Cognitive Behavioral Therapy</a> exercise that is used to treat a variety of common psychological problems. I don't know if renaming every chore will cure my OCD, but it has made reaching financial goals a little easier.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Freach-your-money-goals-faster-with-a-simple-naming-trick&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FReach%2520Your%2520Money%2520Goals%2520Faster%2520With%2520a%2520Simple%2520Naming%2520Trick.jpg&amp;description=Reach%20Your%20Money%20Goals%20Faster%20With%20a%20Simple%20Naming%20Trick"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/Reach%20Your%20Money%20Goals%20Faster%20With%20a%20Simple%20Naming%20Trick.jpg" alt="Reach Your Money Goals Faster With a Simple Naming Trick" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/max-wong">Max Wong</a> of <a href="http://www.wisebread.com/reach-your-money-goals-faster-with-a-simple-naming-trick">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-minute-finance-create-financial-goals">5-Minute Finance: Create Financial Goals</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-manage-your-money-during-a-spousal-separation">How to Manage Your Money During a Spousal Separation</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-signs-youre-financially-ready-to-start-a-family">7 Signs You&#039;re Financially Ready to Start a Family</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/where-to-find-emergency-funds-when-you-dont-have-an-emergency-fund">Where to Find Emergency Funds When You Don&#039;t Have an Emergency Fund</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-money-conversations-parents-should-have-with-their-adult-kids">7 Money Conversations Parents Should Have With Their Adult Kids</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Life Hacks Organization bank accounts banking budgeting debt fun inspiration loans motivation renaming saving money Thu, 27 Oct 2016 10:00:11 +0000 Max Wong 1821541 at http://www.wisebread.com Take Control With These Easy 5-Minute Money Fixes http://www.wisebread.com/take-control-with-these-easy-5-minute-money-fixes <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/take-control-with-these-easy-5-minute-money-fixes" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_list_happy_61309776.jpg" alt="Woman making easy 5-minute money fixes" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Getting your finances in order sounds like an uphill battle &mdash; one that'll take a lot of time. It's true, your financial situation typically won't turn around overnight, but there are things you can do everyday &mdash; in five minutes or so &mdash; that will put you on the right path. Take a look.</p> <h2>1. Plan Out Your Meals for the Week</h2> <p>One major time and money saver for me is planning out meals for the week. I usually sit down on Sunday afternoons and decide what I'd like to eat for breakfast, lunch, and dinner that week. It doesn't take long since I have a fairly limited palette. When I'm done, I visit the supermarket to purchase the groceries I'll need for the meals. This helps me stay healthy, for sure, but it also virtually eliminates the urge to eat out, thereby saving me a significant amount of money on gas, restaurant food, tips, and taxes.</p> <h2>2. Get Your Morning Coffee Fix at Home</h2> <p>I'm sure you've heard from various budgeting experts that you should make your coffee at home instead of hitting up a Starbucks every morning. Many people lament that it's just not the same as the coffee prepared by a barista. Granted &mdash; but you can jazz up your java in your own kitchen, nonetheless.</p> <p>&quot;Investing in a cappuccino machine may cost a bit up front, but the savings add up quickly in terms of money and time spent waiting in line or in the drive-thru,&quot; suggests financial adviser Tammy Johnston.</p> <h2>3. Keep a Running Grocery List</h2> <p>Going to the supermarket without a list is certain disaster &mdash; especially if you're hungry. Cut down on impulse buys by keeping a running list (I keep mine in the Notes section of my phone) so you can add to it whenever you recognize you need something. You'll be amazed at how much you'll save on each shopping trip if you have direction as you navigate those colorful aisles of everything delicious.</p> <h2>4. Practice Meditation to Reduce Stress</h2> <p>&quot;Stressing about money hurts your ability to make good decisions, which can lead to more money issues,&quot; says Ellen Rogin, a CPA and personal financial adviser. (See also: <a href="http://www.wisebread.com/6-ways-meditation-can-make-you-a-money-master?ref=seealso">6 Ways Meditation Can Make You a Money Master</a>)</p> <p>She's correct.</p> <p>Research shows that meditation can help you in <a href="http://www.bloomberg.com/news/articles/2014-05-28/to-make-killing-on-wall-street-start-meditating">volatile financial situations</a>, like when your investments are at risk.</p> <p>&quot;Think about it: When you're freaked out about money, what kinds of decisions do you make? Good ones?&quot; she asks. &quot;No. Stress is why people sell low and buy high. Meditating just a few minutes a day can help you think more clearly and help you make better decisions.&quot;</p> <h2>5. Download a Financial App</h2> <p>If you find it difficult to keep your monthly budget from going off the rails, let alone minding your overall financial picture, you may find at least a little help from technology, like a financial app.</p> <p>&quot;People who downloaded financial apps checked their accounts an average of 12 times per month and saw their spending decrease by 15% after four months of using the app, with grocery spending and discretionary purchases seeing the biggest reductions,&quot; says money-saving expert Kendal Perez.</p> <p>As a general life rule, I check into my bank accounts when I wake up every morning &mdash; I'd like to know right away if I was robbed blind in the middle of the night &mdash; and it's a habit I suggest you adopt.</p> <p>In terms of the financial apps, I personally recommend Mint and Level Money as good places to start. (See also: <a href="http://www.wisebread.com/these-5-apps-will-help-you-finally-organize-your-money?ref=seealso">These 5 Apps Will Help You Finally Organize Your Money</a>)</p> <h2>6. Review Your Finances Once a Week</h2> <p>Why should you review your finances once a week? Because spending can get out of hand quickly, throwing your entire budget into chaos. I've seen it happen too many times: People neglect their finances altogether because they've let them get so messed up that they don't want to deal with it anymore. It's one of the worst practices there is, but you can avoid it by giving just a few minutes' time to your finances each week.</p> <p>&quot;Balance your checkbook, review your credit card and bank statements, and pay your bills,&quot; Johnston advises. &quot;When it becomes a scheduled, weekly habit, it literally only takes a few minutes. You'll know where you stand so you catch any mistakes or red flags immediately, and you save on late fees because everything is looked after promptly.&quot;</p> <h2>7. Actively Look for Savings</h2> <p>If I'm buying anything, I'm looking for a deal. Aaaanything. I look for deals before I go out to eat, plan an activity, purchase clothing, fill up my tank, buy groceries &mdash; you get the picture. You also should be doing this without question, especially if you're finding it difficult to add to your savings consistently.</p> <p>&quot;Take a few minutes to look for savings on a purchase, whether it's tonight's takeout or an oil change for your car,&quot; Perez urges. &quot;Oftentimes you can find coupons or discounts on company websites or company social media pages, or you can download an app like <a href="http://www.couponsherpa.com/">Coupon Sherpa</a>. For example, you can currently save <a href="http://www.couponsherpa.com/jiffy-lube/">$5 on an oil change</a> from Jiffy Lube or <a href="http://www.couponsherpa.com/smashburger">buy one, get one free entrees</a> from Smashburger.&quot;</p> <h2>8. Increase Your Savings in Small Increments</h2> <p>Many people fail at saving because they're thinking too big. You convince yourself that you'd like to put XXX amount of dollars in the bank, and you don't put in a single penny until you've reached that milestone. The problem with this mentality is that you can very well get derailed along the way, prolonging your goal deposit, ultimately cheating yourself out of savings in smaller, more realistic increments.</p> <p>Rogin provides a few tips on how more focused savings can turn into something substantial.</p> <p>&quot;Set up an automatic savings system, so you have money come directly from your paycheck to your bank each paycheck,&quot; she suggests. &quot;And if you work at a company with a retirement plan, make sure you have money coming out of your paychecks going into this plan. An added bonus &mdash; you automatically spend less than you earn and that is one of the most important thing you can do to fix your finances.&quot;</p> <h2>9. Look Up a New Financial Word Every Day</h2> <p>I absolutely love this tip from Johnston, mostly because in all my years of writing on personal finance topics, this is the first time I'm hearing it. Ready?</p> <p>&quot;Get a financial dictionary and learn a new word every day,&quot; she says. &quot;Knowledge is power and when you understand the language of money you make much better decisions.&quot;</p> <p>Did your head just explode a little bit? Because mine did. We can all learn more about how to better serve ourselves financially if we have a better grasp of what &quot;finance&quot; actually means, and a good place to start is with vocabulary. Genius.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/mikey-rox">Mikey Rox</a> of <a href="http://www.wisebread.com/take-control-with-these-easy-5-minute-money-fixes">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-manage-money-when-you-hate-thinking-about-it">How to Manage Money When You Hate Thinking About It</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/reach-your-money-goals-faster-with-a-simple-naming-trick">Reach Your Money Goals Faster With a Simple Naming Trick</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-moves-you-can-make-while-stuck-in-an-endless-tsa-line">6 Money Moves You Can Make While Stuck in an Endless TSA Line</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-find-the-savings-strategy-that-works-for-you">How to Find the Savings Strategy That Works For You</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/first-rule-of-financial-wins-avoid-losses">First Rule of Financial Wins: Avoid Losses</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance apps banking budgeting daily habits financial fix five minutes grocery lists lifestyle meal planning Mon, 10 Oct 2016 09:00:11 +0000 Mikey Rox 1808268 at http://www.wisebread.com A New Bank On The Block: Fee Free Banking with Simple http://www.wisebread.com/a-new-bank-on-the-block-fee-free-banking-with-simple <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/a-new-bank-on-the-block-fee-free-banking-with-simple" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/78686861.jpg" alt="" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Online banking has become increasingly popular not just with traditional banks that have added mobile and web capabilities to their list of features. Although the services have been updated and extended, however, brick and mortar banks have yet to compete with online banks when it comes to their fees. Simple is a relatively new Simple online bank chockfull of services but with no fees.</p> <h2>About Simple Banking</h2> <p>Simple was founded in 2009 out of frustration with the level of technology and customer service offered by traditional banks. The company aims to offer all the features you want from a bank -- only smarter, less complicated, and more accessible. You can&rsquo;t step into a physical Simple branch (there aren&rsquo;t any), but you&rsquo;ll have all the tools you need to manage your money built right into your account.</p> <p><strong>Fee-free.</strong> The Simple bank account is entirely free of any fees. There are no minimums required to maintain a fee-free account. Use their services. Keep your money.</p> <p><strong>ATM Access.</strong> Use any of Allpoint's 50,000 ATMs around the country for fee-free ATM access.</p> <p><strong>Simple Visa card.</strong> Your Simple bank account includes a Visa debit card for making transactions. You can use the card anywhere Visa is accepted and at more than 50,000 fee-free ATMs.</p> <p><strong>Photo Check deposits.</strong> Snap photos of the checks and deposit with your smartphone. No more trips to the bank to deposit a check.</p> <p><strong>Safe-To-Spend.</strong> It can be confusing determining when certain payments are going to clear and figuring out exactly how much you have in your account to spend. The Simple Safe-to-Spend feature calculates and subtracts upcoming bill payments and pending transactions to give you an accurate idea of how much money you actually have on hand.</p> <p><strong>Goals.</strong> Budgeting and saving can be difficult, usually requiring a completely different app to manage your finances. Simple banking, however, includes its Goals feature to assist you with saving money for certain events or payments and figuring out exactly where your money is going. If you choose, you can set up vacation or expense fund accounts, and Simple will subtract and set aside the amount you choose to go into those Goals accounts. You can also manage the money you spend in certain categories, such as restaurants, by only setting aside the amount you are allowing in that category and withdrawing when you go to eat.</p> <p><strong>Making payments.</strong> Simple provides a number of easy ways to make payments whether it's a payment to a friend or family member, utility, or rent. When making payments to other members, it's not only free but instant so you don't have to wait days or weeks for payments to clear like you would with other banks. If you need to send an actual check, Simple will print it, address it, and send it, at no additional cost. You can also transfer funds for free via ACH, between your Simple account and any account you have at a U.S. financial institution.</p> <p><strong>Advanced record keeping.</strong> While many banks still send out statements reporting the funds that have gone in and out for the month, Simple provides more comprehensive data, which is useful for budgeting and tracking finances. Simple's tools allow you to categorize and analyze data to allow you a clear picture of where your money is going. You can also personalize the information to meet your needs.</p> <p><strong>Interest.</strong> The Simple deposit account has an interest rate of 0.01%, with an APY of 0.01%. The daily balance method is used to calculate the interest on the account so that a daily periodic rate is applied to the principal in the account each day.</p> <!--<p><a href="http://9nl.at/hk80"><strong>Sign up for a Simple account today!</strong></a></p>--><!--<p><a href="http://9nl.at/hk80"><strong>Sign up for a Simple account today!</strong></a></p>--><h2>Considerations</h2> <p><strong>No checkbooks.</strong> You can use their bill pay service to send a check, but you won't be able to order checks to write and sign yourself (and using a third party to print checks with your Simple account/routing number won't work).&nbsp;</p> <p><strong>No other products.</strong> If you want a bank to hold all your various financial accounts, like CDs, brokerage, mortgage accounts, Simple doesn't offer them (at least not yet).</p> <h2>Competitors</h2> <p>There are a popular online banks in the marketplace. <a href="http://www.wisebread.com/capital-one-360-review?utm_source=wisebread&amp;utm_medium=internal&amp;utm_campaign=review">Capital One 360</a> is one of our favorites. It offers an interest bearing checking account with a 0.20% APY. There are no fees and no minimums. Get access to 38,000 fee-free Allpoint&reg; ATMs and 2,000 Capital One ATMs. You'll also get a MasterCard debit card for purchases. They've been around longer, but Simple offers additional tools and services that will be helpful for anyone not just looking for a place to keep their money.&nbsp;</p> <h2>Is Simple Banking Right for You?</h2> <p>Simple banking is best for those looking for an alternative to traditional banking that doesn't include any fees and offers tools for budgeting and saving money. In the world of financial institutions, fee-free banking is extremely limited. Simple offers one of the least expensive and most convenient banking opportunities available.</p> <!--<p><a href="http://9nl.at/hk80"><strong>Sign up for a Simple account today!</strong></a></p>--><!--<p><a href="http://9nl.at/hk80"><strong>Sign up for a Simple account today!</strong></a></p>--><br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/christina-majaski">Christina Majaski</a> of <a href="http://www.wisebread.com/a-new-bank-on-the-block-fee-free-banking-with-simple">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/discover-bank-review-you-know-the-card-but-what-about-the-bank">Discover Bank Review: You Know the Card, but What About the Bank?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/capital-one-360-review">Capital One 360: A Competitive Banking Option</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/12-places-to-keep-your-money-safe-and-growing">12 Places to Keep Your Money Safe — And Growing</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/are-you-paying-these-6-unfair-banking-fees">Are You Paying These 6 Unfair Banking Fees?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-ways-your-money-can-support-your-values">4 Ways Your Money Can Support Your Values</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Banking banking online bank simple Fri, 24 Jun 2016 22:02:57 +0000 Christina Majaski 1737977 at http://www.wisebread.com The 5 Millennial Money Apps Everyone Should Use http://www.wisebread.com/the-5-millennial-money-apps-everyone-should-use <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-5-millennial-money-apps-everyone-should-use" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock_000077673573_Large.jpg" alt="millennial using a money app" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p><a href="https://www.stashinvest.com/start-investing/wisebread">www.stashinvest.com/start-investing/wisebread</a></p> <p>The more we become surgically attached to our phones, the more we need apps to help us along. According to a recent study, <a href="http://www.millennialdisruptionindex.com/">68% of Millennials</a> say that in five years, the way they access their money will be completely different, and 70% say that the way they pay for things will be totally different. So it's no wonder there are so many money apps out there, making it easy to do banking, investing, and budgeting on the go.</p> <p>Most of us money savvy Gen Y-ers have heard of Mint before, which is a great app that helps you budget and track your spending. But there are a number of other apps out there that can help us invest, save, and yes, even spend, easily. (See also: <a href="http://www.wisebread.com/these-5-apps-will-help-you-finally-organize-your-money?ref=seealso">These 5 Apps Will Help You Finally Organize Your Money</a>)</p> <h2>1. Acorns</h2> <p>If you want to invest in stocks, but don't know where to start, try out <a href="https://www.acorns.com/">Acorns</a>. This app invests your spare change. In other words, if you spend $1.75 on a soda, the extra $0.25 goes into Acorns. Once you've reached $5 in spare change, a team of financial advisers (including Nobel Prize-winning economist Harry Markowitz) start investing for you. You can choose how aggressive you want your portfolio to be depending on how comfortable you feel. The app does cost $1 per month if your balance is under $5,000 and .25% per year if you're over $5,000. If you're age 24 or under, it's free. Make sure to do some research before you start investing (especially for a stock market newbie), but this app is well worth your time and investment.</p> <h2>2. Stash</h2> <p><a href="https://www.stashinvest.com/start-investing/wisebread">Stash</a> is similar to Acorns, but with Stash, you get to choose how you want to invest. It also lets you know how risky your investment might be. You're not all alone in the process either &mdash; Stash provides support and guidance as you go. If you're new to the stock market, this is a good place to start, but make sure you do your homework on any company you invest in. The charges $1 per month with no commissions. Special offer: Wise Bread users can get $5 to get started with Stash!</p> <h2>3. Digit</h2> <p><a href="https://digit.co/">Digit</a> is a tidy little app that saves money for you. After the app checks out your payment history and spending habits, it starts to calculate ways for you start saving money. Every two to three days, Digit takes out between $5 and $50 and puts it into a savings account. The app helps you save without you even realizing it. And if you need your money, you simply text the app and it sends it to you. There are no fees and no minimums for this app, and they have a <a href="https://digit.co/about/faq#no-overdraft-guarantee">no-overdraft guarantee</a>. You can also pause savings at any point if you need to keep your money in your checking account. (See also: <a href="http://www.wisebread.com/can-a-robot-called-digit-really-help-you-save-more?ref=seealso">Can a Robot Called Digit Help You Save More?</a>)</p> <h2>4. Venmo and Square Cash</h2> <p><a href="https://venmo.com/">Venmo</a> is the fun way to send money with no fees. Set up much like a social media app, you can send money to friends for all kinds of things, and post emojis and jokes in public. While it sounds weird, it's the hippest way for Millennials to send money back and forth.</p> <p>The less &quot;fun&quot; version is <a href="https://cash.me/">Square Cash</a>, which I use on a regular basis to pay utilities to my roommate. Both apps are free, but do have a small fee for credit cards. Just make sure you never send any money to someone you don't know well. Both apps are good if you have a friend who owes you money for something. You don't have to awkwardly and consistently remind them in person &mdash; you can just request the money through the app.</p> <h2>5. Wally</h2> <p>Like Mint, <a href="http://wally.me/">Wally</a> helps you budget your money. The app shows your budgets in easy to understand charts and gives you an accurate look at your spending. The downside is that you have to upload each purchase, but it makes you more accountable. This is especially helpful on work-related travel. The app doesn't link to your credit card or bank account unless you want it to, so you don't have to worry about sharing your personal information. Wally is especially helpful for me so I can write off coffees and lunches and I don't have to keep the receipts! Try out Wally and see if it makes your life easier.</p> <p><em>Which money apps are you using? Share with us in the comments!</em></p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fthe-5-millennial-money-apps-everyone-should-use&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FThe%25205%2520Millennial%2520Money%2520Apps%2520Everyone%2520Should%2520Use%2520%25281%2529.jpg&amp;description=The%205%20Millennial%20Money%20Apps%20Everyone%20Should%20Use"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/The%205%20Millennial%20Money%20Apps%20Everyone%20Should%20Use%20%281%29.jpg" alt="The 5 Millennial Money Apps Everyone Should Use" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/jennifer-holder">Jennifer Holder</a> of <a href="http://www.wisebread.com/the-5-millennial-money-apps-everyone-should-use">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/12-places-to-keep-your-money-safe-and-growing">12 Places to Keep Your Money Safe — And Growing</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-free-debt-management-tools">6 Free Debt Management Tools</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-to-save-on-smartphone-costs-while-traveling">8 Ways to Save on Smartphone Costs While Traveling</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-apps-that-make-budgeting-fun-no-really">7 Apps That Make Budgeting Fun — No Really!</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-ways-millennials-have-changed-money-so-far">6 Ways Millennials Have Changed Money (So Far)</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Banking Technology apps banking investing millennials money apps smartphone Wed, 17 Feb 2016 10:30:24 +0000 Jennifer Holder 1658140 at http://www.wisebread.com