The Risks of Retiring With Debt and How To Avoid It

/ BY / Personal Finance

Most people understand the importance of having a healthy savings account by the time they retire. However, a growing number of people are spending their golden years in debt. One study by a non-profit finance firm, CESI, found that 56 percent of all retirees begin their retirement with some form of debt. Why People Retire With Debt So why so much debt? There are a number of reasons retirees are finding themselves in debt, including: Medical and funeral expenses. The CESI study reported that 75 percent of their survey respondents cited medical or funeral expenses as the main reason behind their debt. With health problems increasing as we age, many seniors are putting their debts...

Are You Ready to Say Goodbye to Cash?

/ BY / Personal Finance

The U.S. may be moving to a cashless society, according to a recent study conducted by Rasmussen Reports. In a telephone survey of 1,000 American adults, it found 43 percent of those interviewed had gone a week without using any bills or coins to make purchases. Which do you prefer? There are some good reasons both for and against pulling out your credit card instead of dollars when you’re making a purchase. Here are the pros for using credit cards: Credit cards are convenient. It's a lot easier to pull out and swipe a credit card than to comb through your wallet looking for enough bills and change to pay for a hamburger or buy something from a drug store. Credit cards can help...

Frugal Living Leads to a... Budget and a Better Society

/ BY / Personal Finance

Yes, for most people the word BUDGET is a dirty little word. Before reading this article I am sure there are several critics that have already pegged this article for what they think they are going to read. Keep an open mind when reading this, and by the end my hopes are that you get at least one valuable piece of information. For starters Wikipedia defines budget as the following: "a financial plan and a list of all planned expenses and revenues. It is a plan for saving, borrowing and spending." Secondly, Webster's dictionary defines budget this way, "The amount of money that is available for, required for, or assigned to a particular purpose." With that said you are thinking yes I know what a budget is...

Sticking to a Budget

/ BY / Personal Finance

It's nice when family finances run like a well-oiled machine. With bills paid on time and money left at the end of the month, it's good to know your budget is working for you. Successful family money managers create budgets that they can live with and stick to by following five simple rules.
Rule One: Make an Honest Inventory Most of us think we have fewer bills and more money than we actually have. Our family budget is doomed to failure if we don't have an honest and accurate idea of our expenses and income. Before you sit down to make your family budget, track your income and outgo for a month. Keep a scrupulous record of everything you spend...


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