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MenuWhen buying a home, many people are taken aback when they hear how much mortgage they can qualify for. But do you really need a loan or home that size? [Read more…]
Is 10% of Gross Income Enough for Retirement Savings?: Common Money Advice Series
There’s nothing like a nice, round number like 10% to consider when saving for retirement. But is this really the best advice on retirement savings? [Read more…]
How much money should I keep in my emergency savings fund?: Common Money Advice Series
Life happens — and you’ll want to be prepared financially when it does. But how much do you need in your emergency savings fund? [Read more…]
How Regular Exercise Can Save You Money: Your Health and Wealth
There’s nothing like getting your blood pumping in a good exercise routine. It’s good for your body, good for your brain and even better for your bank account — and here’s how.
In today’s episode of Your Money Minute with Tracy Stewart, CPA, I want to talk about how regular exercise can help you save money. That Stationery bike or jazzercise class will help you stay active and healthy, but the impacts go beyond those benefits and extend to your wallet.
By staying healthy, you will naturally have fewer doctor visits — which will certainly save you some money. When you exercise, these happy, little chemicals called endorphins are released, and they help you process information better, make better decisions and avoid impulsive behaviors. So imagine being in the grocery store and strolling past the impulse section… The exercised-you is more likely to dodge those candy bars and magazines because your impulse control and decision making is stronger.
If working out alone just isn’t your style, try connecting with a friend or getting involved with a group exercise class. Community can be very good for your fitness — and it can help you stay active and accountable. You can also use an app, like Packed, to get rewards (and even punishments) when you don’t meet certain activity goals. Now how about that for a challenge?
Financial independence is unbelievably liberating. Keeping your body in shape helps your mind — and there’s nothing better for your money and long-term financial stability than a sharp mind.
Remember: You can subscribe to my YouTube channel for even more practical advice on making the most of your money and life in daily episodes of Your Money Minute.
Just what the doctor ordered! Your health and money.
Your health and money have a closer relationship than you think. Read on for tips to improve both! [Read more…]
Take Your Finances Off Autopilot
If your money is on autopilot, you may be close to driving off the cliff! Learn how to take back the wheel. [Read more…]
How to Start a Budget after Divorce: Your 60-second Post-Divorce Budget Bootcamp
If I say the word “budget”, how does it make you feel? Having a plan and purpose for every penny gives you complete control — and here’s why that’s so important after divorce.
In today’s episode of Your Money Minute with Tracy Stewart, CPA, I want to talk about how to start a budget after your divorce. If you’ve never budgeted, you’re definitely not alone.
Starting a budget can feel clunky and unfamiliar. Sometimes you have n no clue what numbers to plug in, how to track your spending, what goals to set… But it’s all about developing good, healthy habits regarding your money. Good habits take time to establish, so take it easy on yourself as you make the changes necessary. Divorce is all about change, right? You’ll absolutely get there, I have no doubt!
For a while, I was the lady carrying around a little notebook in my purse to track every time I swiped a card or spend a penny. I used this to track my expenses so my budget could get even more realistic with time. I eventually started using a credit card for all expenses, so I could more easily track and categorize them. (Reminder: This will ONLY work if you pay the card off at the end of each month. Don’t get yourself into debt and use the excuse that your money lady said you needed to do it for your budget!)
One last thing: You have to write down your budget. Don’t do this in your head — that’s not good enough. It has to be on paper, it has to be on purpose. The more you get into the nitty gritty of your dollars and cents, the better you can predict, prepare, protect and prosper.
Financial independence is unbelievably liberating. A budget keeps you honest and on track to reach your financial goals. Start developing strong money habits now, and set yourself up for financial security for the rest of your life.
Remember: You can subscribe to my YouTube channel for new episodes of Your Money Minute every weekday. I share tips, tidbits and techniques for making the most of your money and life.
What’s different about your money after divorce?
Managing your money after divorce often feels like uncharted territory. Developing changed habits is the key to making the most of every penny in your new post-divorce lifestyle — and here’s why. [Read more…]
Your Blueprint for Surviving Financial Storms
Saving is difficult when life is normal and the sun is shining. But what happens if you lose a job, face a divorce or a medical diagnosis? Read on for advice for overcoming income shocks. [Read more…]
5 signs that you are sabotaging your own retirement
How would you like an opportunity to burn your financial security in retirement?
Most people would respond to that with “Are you crazy? Why would I ever do such a thing?” If only that were the truth, America’s retirement picture would look a lot less dire. Sadly, I see lots of people sabotage their retirement in ways big and small.
Here are 5 signs that you are putting your future financial security at risk. [Read more…]