Carrying valid auto insurance is a legal requirement in 49 states in the U.S.1 However, just because auto insurance is mandated doesn’t make it affordable, especially for those with low to moderate incomes. A AAA study found that the average cost of full-coverage insurance for a 2019 small sedan in 2019 was $1,328, though of course your rate will vary depending on your vehicle, driving record, credit score, and other factors.2 Finding an auto insurance policy that doesn’t put a burden on your...
Today, consumers have more banking choices than ever when it comes to how and where they’ll manage their money: traditional brick-and-mortar banks, online-only banks, robo-advisors, fintech apps. Another option is the credit union—a financial institution that can range from small and local, to truly national in scope.
For consumers who have ...
Many years ago, I learned that Samuel Johnson, one of the most prolific of all English writers, spent his days lamenting his own laziness. Despite writing one of the most influential dictionaries in the English language, as well as numerous biographies, essays, poems, works of criticism, and one novel, Sammy J continually beat himself up throughout his life for not getting more done.
I have to admit that my immediate reaction to this was “OMG, that’s so relatable!” Instead of thinking that th...
Although they don't work full-time, students often need their own bank accounts. College kids benefit from becoming account-holders, especially if they are getting financial aid or loans, and even high schoolers can use them. Recognizing this, many financial institutions offer accounts specifically geared toward students.
Student bank accounts often have the same basic structure as the institution's typical offerings, but they reflect the fact that students have relatively small income, and a...
Back to school 2020 is going to be unlike any other year’s return to the hallowed halls of education. Whether your child will go back to the classroom five days a week, learn from home or experience some hybrid educational model in between, you’re likely thinking about how to fit teaching at home into your work, lives and schedules.
Parents are their children’s first teachers, which Covid-19 and its attendant changes in schooling have made abundantly clear.
While teaching your kids will never...
If you’re not a regular in the personal finance corner of the Internet (where spreadsheets are sexy, fluent NASDAQ speakers proliferate, and people can get spittle-flecked with outrage while arguing about the relative merits of various debt-payoff strategies), you may not be familiar with the FIRE movement.
This acronym, which stands for Financial Independence/Retire Early (and which makes my inner grammar-lover scream since Financial Independence/Early Retirement is the proper parallel struc...
Now that college is over, it's time to start paying those student loans. Here's how to budget for those payments without feeling too overwhelmed.
All small business owners need to understand their insurance needs. Assuming you don't need insurance is playing with fire.
Discussing finances with your parents can protect their retirement--and yours--as they age.
A full review of RealtyMogul, which opens up real estate investing to all.
Who would handle your financial decisions if you weren't able to? At some point in your life, you might need someone else to make certain decisions for you. If you don't have a power of attorney document in place, you won't be able to designate this person in advance.
Here are the basics about this important legal document, and considerations when deciding who to designate to handle your affairs if you cannot.
Have you decided to retire, but not yet figured out if you will be staying in place or making a move? While you may be perfectly happy staying where you are, there are a number of reasons why you might choose to move after hanging up your hat.
You may have heard warnings about being careful not to overfund your cash value life insurance for fear of triggering a modified endowment contract (MEC). But what exactly is a MEC? In short, a MEC is a life insurance policy in which funding has exceeded federal tax law limits. If your insurance policy becomes a MEC, you lose the favorable tax treatment you'd otherwise enjoy with a cash value insurance policy. Here's what you should know.