America Saves, a national campaign that promotes savings, notes significant differences in savings between men and women. A 2014 survey showed that women displayed a greater interest in savings, but there was no greater savings effort or savings effectiveness compared to men. But just two years later in the same survey, the gender gap leapt off the page. Woman were notably behind across 12 important financial indicators including consumer debt, savings habits, emergency savings, and general savings progress.
Today’s college students are taking on student loan debt in staggering amounts. The financial impediments that this debt is likely to cause later in life have become clear: building financial assets, like an emergency fund, owning a house, or saving for retirement, are put on hold in order to chip away at a mountain of debt. But a recent report from the Consumer Financial Protection Bureau (CFPB) shows that younger Americans aren’t the only demographic being weighed down by the burden of student loans.
Tax season is swiftly upon us and soon taxpayers will be preparing to file their taxes and plan for their refunds. Unfortunately, those who file at the open of tax season and claim the Earned Income Tax Credit (EITC) might be disappointed to find a delay in receiving their return this year.
Holiday shoppers have been careful each season to make their lists and check them twice. Budgets have become more discerning and savers have become better planners for their holiday spending, prioritizing savings along the way. According to a September 2016 report, two out of five millennial shoppers got a head start this year and had started buying gifts for the season before summer had even come to a close.
The value of a college degree isn’t what it used to be, but its importance certainly hasn’t diminished. In fact, in Sallie Mae’s report, “How America Pays for College,” 90% of families expect their student to earn at least a bachelor’s degree, with 54% expecting a graduate degree. Of course, if you’ve read any recent news about the financial details of college education, you’ll know that it’s also a foreboding prospect: there is nearly $1.3 trillion in total U.S. student loan debt, ongoing wage stagnation, and the prospect of enduring years of underemployment.
For the first time in the Modern Era, this is the most common living arrangement for 18 to 34-year-olds. This new normal has not come without its challenges. Many are saddled with student loans, consumer debt, and a serious lack of savings – both emergency and retirement. The silver lining? Living at home provides some much desired financial breathing room, just when it’s needed most.
When you work for yourself as a small business or freelancer, perks of teleworking don't change. Instead, your accountability shifts. Mistakes in time management eat into your profit and your sanity, if you let it. That's where systems come into play.
Millennials enter the workforce for the first time and face a stark reality. Their degree is not as useful as they had been told it would be.
When you're traveling, every day is an opportunity to make memories. Think of these must-do's as guides for living your best life while exploring the world around you!
Baby Boomers, Gen X, Millennials. The lack of retirement savings in our country is an epidemic that affects all three generations. According to the 2016 Retirement Confidence Survey from the Employee Benefit Research Institute (EBRI), only two-thirds of workers (or their spouses) are currently saving for retirement, with 26 percent reporting they have less than $1,000 saved. It’s time to sweat the small stuff.
School has started, the summer weather has broken – autumn has arrived. Whether you are recovering from back-to-school expenses or are looking ahead to the holiday season, there are plenty of fun and frugal ways to make the most of the fall season without going broke in the process.
Very few of us have money at the ready to cover an emergency, never mind the money for the larger purchases we'd like to make. This is why it's that much more important to prioritize savings to cover both the items you need as well as those you want.
“Better we have the debt than [our children] have the debt,” Democratic presidential candidate Martin O’Malley was quoted as saying in a recent Washington Post article on student loans and parent borrowers.
It’s easy for us to think of this year’s tax refund as free money coming to us courtesy of Uncle Sam. However, the truth of the matter is that the check you receive is a return of your own hard earned money. And since you’re going to get your own money back, why not use it to get ahead of your financial goals?