Tag: saving money

An important thing for all newlyweds to consider is how to successfully marry your finances. Studies show that no matter how much a person makes, fights about money are among the biggest frictions in a marriage and top contributors to divorce. While everyone sees financial well-being differently, there are things you can do to ensure that friction is minimized, so that you can spend more time doing the things you love and building a life together.

Things happen! That expression has been around for years and it’s very true. Without going into what happens to cause many people unexpected financial setbacks, my experience often points to medical bills, divorce, job loss and unfortunately, substance and gambling addictions. However, it might just be that people are living longer, everything is far more expensive, and social security just won’t cover most people’s bills.

You know "stuff" isn’t what makes the holiday season truly fulfilling. Yet each year, despite your best intentions, you end up shopping too much, rushing too much, stressing too much… and savoring the moment too little. Here, I offer 10 suggestions to help you maximize your joy by making small, deliberate changes in the way you spend (or don’t spend) your money and time this holiday season:

1. Set a budget for gift-giving. By the time we reach adulthood, most of us have learned that giving and receiving unneeded gifts is an enormous waste of money.

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.

Americans have already forgotten the lessons of the Great Recession, judging by the Consumer Financial Literacy survey. When the recession began, 57 percent of Americans were spending less money than the year before. By 2014, this had dropped to 29 percent. Sixty-one percent don't have a budget, 16 percent retire without enough savings, and 16 percent have no emergency savings. Before you find yourself in a financial emergency, make sure you're not making any of these common mistakes that could kill your finances.

Anticipating the birth of your first baby is at once exciting and intimidating. Along with the countless joys this new little person brings comes the insistence that you plan your family’s financial future wisely. Still, rather than be daunted by the facts—according to recent estimates, raising a child from birth to age 18 costs on average about $230,000—and that doesn’t include the cost of sending them to college.  It’s best to start at the beginning with a reasonable budget, thoughtful planning and a long-term dedication to savings.

When it comes to romantic screw-ups, missing Valentine's Day is about as bad as it gets. But what if you miss it on purpose?

Kathryn Hauer does that every single year. Married to her husband for 33 years, she is not hung up on the actual date. Feb. 14 may come and go, but the post-holiday bargains are just too good to pass up.

"For us, it’s fiscally smart," said the Aiken, South Carolina, financial planner. "As a gal who loves the after-holiday sales, I’m all for scooping up deals for my husband."