Tag: millennials

Many relationships can’t take flight until both parties have a candid discussion about money. More specifically, a conversation that prioritizes potentially troubling credit situations that can capsize a marriage. Here's what to know:

Why Talk About Money and Credit?

Yes, people can have bad credit for a variety of reasons, fair and unfair, but a romantic partner with strong credit health has a right to know if his or her significant other has credit problems. In fact, there’s a strong case that credit health should be a big factor in evaluating a romantic partner.

Millennials today, more than ever, are trying to navigate through the difficult maze of financial independence and security. The problem is many times they may face several challenges along the way primarily because they don’t understand some key points when it comes to their credit scores.

I have a few tips Millennials should consider reviewing with their financial advisor or CPA in the near future.

Nearly 8 in 10 (78%) of U.S. adults lose sleep over daily stresses like work, relationships, and more, according to a new report. More than half (56%) of Americans, ages 18 and older, toss and turn over at least one money issue. The biggest money stressor: everyday expenses, which nearly 1 in 3 (32%) say they occasionally lose sleep over.

Other than everyday expenses, the most popular financial insomnia contributors include saving enough money for retirement (24%), health care or insurance bills (22%), the ability to pay credit card debt (18%), mortgage or rent payments (18%), educational expenses (11%) and stock market volatility (5%). Those who are losing sleep over money include:

In the Greek myth of Sisyphus, he was condemned for eternity to roll a boulder up a hill, just to see it roll right back down.

For those of us trying to build up emergency funds of short-term savings, it can feel like a similar exercise. As soon as you manage to put some cash aside, you have to draw it down for sudden expenses—and then start all over again.

Natalie Smigielski knows the feeling all too well. About a year and a half ago, the 33-year-old from Toronto had scrimped and saved enough to come up with a $5,000 emergency fund.

Technology can be a beautiful thing. From cell phones that allow us to stay in constant contact with loved ones to laptops that let us take work and play wherever we go, the perks of living in the digital era are tremendous. On many fronts, technology makes life easier and less demanding. Yet, technology can also make life more complicated and stressful. The key, as with many elements of life, is to create the right relationship—a thoughtful balance. Technology isn’t inherently good or bad; it’s the wise use of technology that makes all the difference.

NEW YORK (Reuters) - A couple of years ago, Emilie Hunt had to go to the emergency room with a stomach virus. The bill took a huge chunk of money out of her savings, more than $800, and kept her from saving for a couple of months.

"I'm really bad at planning for unexpected expenses," she said. "And instead of cutting other expenses, often the first money I cut is what would go into savings."

NEW YORK (REUTERS) - Joseph Shonkwiler, the proud father of newborn twin boys, owns a life insurance policy.

Like many millennials, the policy was not a priority for the 34-year-old from Cambridge, Massachusetts, until the twins were due. He will start paying down close to $200,000 in student debt after completing his MBA from the Massachusetts Institute of Technology's Sloan School of Management.

A study from Life Happens, a consumer group formed by insurance providers, and LIMRA, the life insurance trade association, found that 29 percent of millennials cited saving for a vacation as a priority over purchasing life insurance or increasing their coverage.