Tag: savings
Know Your Money: High-Yield Savings vs. Series “I” Bonds vs. Certificates of Deposit vs. Treasury Bills vs. Money Market Funds
How many of you feel that you know your money well? If you received $3,000 tomorrow, where would you place it? More importantly, why would you place it there? Most of us spend our 20s and 30s building and ignoring debt. At some point, we get out of debt, and then we are left in…
Welcome to the Elite Savers of America: Save $10,000 in Your HYSA
Do you find saving money to be a difficult task? Do you need help keeping cash in your accounts? Well, it’s time to commit to saving money for your future. Welcome to the Elite Savers of America (ESA), where we value saving our money in a High-Yield Savings Account (HYSA) to protect our futures from…
Time is Money #2: Save By Adding Value in the Present
Have you ever wondered why people save money? We all believe we have the answer, but it is still worth a deeper dive. We recently explored debt and how it keeps you focused on the past. Now it’s time to focus on today, which reduces much of our stress. What is saving? Most people think…
Save (for) the Children: Series “I” Bonds vs Roth IRAs vs HSAs vs 529 Savings
Life is good when you understand your finances. There are many tools parents have to assist children in getting a head start. To prepare your children financially, YOU must be financially prepared. Therefore, getting your act together is a top priority before your children leave home. I spent many years struggling with my money until…
Increase Your Savings Rate: It Determines When You Can Retire
How fast do you want to retire? Do you genuinely want to work until the full retirement age of 66? I know I don’t want to work for another 25 years. But what is the best way to retire early? We all hear terms like Financial Independence Retire Early (or F.I.R.E.), but what does that…
Middle-Class Investing 105: Start with Savings & Interest
Becoming a big-time investor doesn’t start with buying dividend stocks and real estate. First, you must appreciate every dollar you earn. The purpose of every dollar you earn is to earn more dollars. That’s right; your money makes you money. The first place we can start earning income from our money is in the banks.…
Build a $1,000 Emergency Fund in 10 Steps
Saving money is a process that most of us need help understanding. If you want to save a large amount of money, your system will need to operate like clockwork. You’ll need to visualize your money before you can save consistently. You can see your money best by using spreadsheets and following a budget. You…
Are You a Spender or a Saver? How to Become a Saver
Today, I want to turn my focus to you. That’s right; you get all of my attention for today’s article. I want to determine why you are not becoming wealthier each day. Like most people, your spending habits prevent you from building wealth. They trained us from a young age to consume without thinking. However,…
Saving for a House Down Payment #6: Family, Big City
If you want to accomplish the most difficult thing in life, try buying a house in a big city while having a family. I cannot think of a more demanding position to be in as an adult. However, we can achieve anything we put our minds toward, so let’s move forward with a positive mindset.…
Saving for a House Down Payment #5: Family, Small City
Did you wait until you were married and had a family before buying a home? Don’t worry; that’s what I did as well. Having a family definitely changes the dynamic of saving for a home, but it gives you two distinct advantages. First, your family gives you the drive and determination to succeed in saving…
Saving & Investing with $200 a Month Available
Congratulations on having $200/month to save and invest—it’s a big deal. Yes, I am being serious. I remember a time (not too long ago) when I finished each month in the red. I created this series to give you ideas on how and where to save and invest your money as you build your financial…
Saving for a House Down Payment #4: Couple, Big City
Double the people, double the fun. I’ll admit upfront that this process isn’t going to be fun. For a couple to buy a home in a big city, it will take lots of hard work and dedication. But, as a couple, you have a few things going in your favor, mainly twice as many people…
Saving for a House Down Payment #3: Couple, Small City
A couple (in a small city) working together to save for a down payment could be the best-case scenario for homeownership. Two heads are better than one, and this situation proves this. The only things that can get in your way are yourselves. I want to review some of the downfalls you may face if…
The Magic of Saving
Saving and Investing feature two vastly different mindsets. I will look at these financial mindsets individually and then compare them. My goal is to present you with an argument to see where you fall on the scale. Knowing your tendencies is the best way to make yourself financially secure. What is Saving? My personal definition…
