The COVID-19 outbreak is causing people to make tough choices regarding their finances. Are you in this boat? If so, you likely have to accept some unpopular truths to weather the storm of these uncertain times.
Here are some hard, but necessary financial truths that you need to consider as you move through these difficult times.
You need to talk about healthy personal finance habits with your teenagers, especially during this coronavirus pandemic. From preparing for college to managing credit cards and student loans, you want to make sure your teenager is set up for success. Your guidance can help them avoid some of the money mistakes most of us make as we become adults.
To fight COVID-19 and the coronavirus pandemic, Congress in March 2020 passed three separate economic relief bills to help struggling individuals and businesses. The first was the $8.3 billion Coronavirus Preparedness and Response Supplemental Appropriations Act of 2020. The second initiative was the $3.5 billion Families First Coronavirus Response Act. And the largest of the …
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Setbacks are an inevitable part of life. They can be small, such as a simple mistake, or large, like the loss of a job. In any case, they are often difficult to deal with and can have serious consequences. The best way to handle setbacks is to recognize them for what they are and take …
Just in time for the Martin Luther King, Jr. holiday, Black billionaire Robert F. Smith is being honored for his HBCU generosity and leaving a positive financial legacy in the African American community. In the midst of a commencement address this year, Robert F. Smith casually worked in a shocker. He was going to …
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Forty percent of U.S. businesses are female-owned, and they generate $1.8 trillion a year in revenue through different business plans including Benefits Membership Revenue Strategy. While these numbers are stellar, data shows that there are still opportunities for improvement. A survey of over 3,000 entrepreneurs found that men are almost twice as likely as women …
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While the goal is to avoid racking up debt, you can use rewards credit cards to your advantage during the holiday season. With some intentional thought and strategy, these cards can help you spend wisely and take advantage of a variety of perks during this time of year. However, there are some tips and strategies …
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Holiday gifts are not the only expense you have to prepare for this season. There are many ways the money in your bank account can quickly start to disappear. If you are hosting family in your home, traveling, cooking for family and friends, or decorating, these are all expenses you want to take into account. You …
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Did you know that more than three-quarters of today’s millionaires are self-made and started as middle class or lower? Also, data shows that it takes most people an average of 32 years to reach their first million. Most millionaires are not an overnight success. As a result, up-and-coming millionaires learn from rich people’s habits to …
Your concerns as a veteran are different from a civilian. While money matters may be on your mind, handling the pressures of serving our country are likely taking up most of your mental space, and it makes absolute sense as to why. However, as deployment brings about a high level of uncertainty, you can ease …
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If you’re like most people, just hearing the word “recession” is enough to spur feelings of anxiety, dread, and fear. For those impacted by the economic downturn of the Great Recession of 2007-2009, this word carries troubling memories and concerns about the impact of a future recession. A recession is a period of economic decline, …
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There are more than 10.2 million millionaire households in the United States. This number is roughly equal to the population of Sweden and Portugal and is more than Denmark and Switzerland. Many of these individuals have made specific money moves that allowed them to reach this status. The 1996 bestselling book, The Millionaire Next Door, …
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What’s more frightening than zombies, vampires, and ghosts? The financial status of many Americans. Unfortunately, many face the reality of not having an emergency fund, being unable to save enough for retirement, and having an overwhelming amount of credit card debt. When that’s your financial status, it can feel much scarier than the latest horror …
When you think of walking out of the office for the last time—or dialing down your entrepreneurial dealings—how do you envision life to be? Is it filled with travel plans, new business ideas, or moving to that Italian villa? Whatever your plans are, you want to ensure you aren’t just comfortable during retirement, but that …
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Whether you’re 25 or 55, you’ve likely come across countless articles talking about how to prepare for retirement. While the advice may be well-thought-out, and even helpful, it can be overwhelming. You have to plan for a future you are decades away from facing. A lot can happen on this road called life, but you …
How to Prepare for Retirement in Your 20s, 30s, 40s, 50s and Beyond Read More »
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