Videos: Saving
The following videos cover saving strategies to plan for your future. Saving Matters Setting Money Goals Bank Accounts Budgets Save Like Mike Ways to Save During Tax Time Make the Most of Your Tax Refund
Savings Accumulation (Calculator)
Financial Calculator To help evaluate your alternatives Savings Accumulation Calculator This calculator determines how much you need to save each month to reach a savings goal. Save for any reason Amount you want to save $ Interest rate you expect to earn % How many yearsmonths /td> Monthly savings needed Interest is compounded monthly. This…
Planning a Vacation – Save Now or Pay More Later
If a vacation is in your plans, you should consider the financial aspects along with all the details of your trip. Those issues are how much is the vacation going to cost and how to pay it. Costs of the Vacation The actual costs will depend on the type of trip you plan. But, probably…
Are You Laddering Your CD Maturities?
Shorter-term certificates offer more flexibility, but usually with lower rates. You could get higher rates with longer-term maturities, but what happens if rates go up even more? Choosing a combination of maturities can combine the best of both…
Funding Your IRA the Easy Way With an Automatic Savings Plan
Your Individual Retirement Account (IRA) is one of the four main components of a financially secure retirement. Anyone with wages under the age of 70 ½ can contribute, the annual contribution limits have been increasing and there are tax benefits. Benefits Add Up The amount you can accumulate depends on two factors – what you…
Fund Your IRA the Easy Way With an Automatic Savings Plan (Calculator)
Your Individual Retirement Account (IRA) is one of the four main components of a financially secure retirement. Anyone with wages under the age of 70 ½ can contribute, the annual contribution limits have been increasing and there are tax benefits. Benefits Add Up The amount you can accumulate depends on two factors – what you…
Reduce Your Car Payments By Saving Now for a Larger Down Payment
If you are planning to buy a car, you can reduce your monthly payments by increasing your down payment. Increase your down payment with an automatic savings plan. Sample monthly loan payments for a $30,000 car. (Assumes a 7% interest rate.) Down payment Loan amount Monthly payments 36 month loan 48 month loan -…
An Easy Way to Save for Any Reason (Calculator)
Having more money is better than having less money. You may be thinking of a vacation, a new car, an addition to your house, your retirement or just the peace of mind that comes with having a larger balance in your savings account. There is no easier way to save than with an automatic savings…
Saving for College Made Easy (or at least easier)
The costs of sending a child or a grandchild to college are high and getting higher. Actual costs vary by school, but a general place to begin is to consider that today’s tuition, room, board, books, transportation, and incidentals will probably run: Private 4-year University – $45,000 Public 4-year University for in-state students – $23,000…
Your Honeymoon: Save Now and Enjoy or Pay More Later
If a honeymoon is in your plans, you should consider the financial aspects along with all the details of your trip. Those issues are how much is it going to cost, how are you going to pay for it and what steps can you take now so you enjoy your honeymoon even more knowing it…
Save for Your Retirement
Add $50,000, $100,000 or even $500,000 to Your Retirement Savings Your personal savings are one of the four building blocks of a financially secure retirement along with your company’s retirement plan, your IRA and Social Security. The amounts you will receive from those last three sources are somewhat out of your control. Social Security benefits…
Your Next Vacation Save Now and Enjoy or Pay More Later
If a vacation is in your plans, you should consider the financial aspects along with all the details of your trip. Those issues are how much is it going to cost, how are you going to pay for it and what steps can you take now so you enjoy your vacation even more knowing it…
Year Round Tax Savings Strategies
Here are some ideas that you can use throughout the year to make April 15th less taxing: Be organized. Having your records in a usable manner will make preparing your return easier and may help you with deductions you might have forgotten about. Consider using a software program like Quicken or Microsoft Money to keep…
The Importance of Saving
There are many things to consider when saving for the future. The most fundamental factors are to save early and save more. No one can control interest rates or accurately predict what will happen in the stock market. The two things you can control are when you start and how much you save. The…
Mistake to Avoid: Not Starting to Save Early for Financial Goals
Postponing saving for your retirement or a college education for a child is unfortunately quite easy. There can be hundreds of reasons to delay and only one reason to start – your financial peace of mind. Weighing the benefits of instant gratification against your long-term financial security is never easy. Here are some examples of…
Mistake to Avoid: Holding US Savings Bonds After Interest Has Stopped
United States Savings Bonds have been one of the most popular ways for Americans to save for over 75 years. As a result of purchases or gifts, more than 55 million people currently own over $180 billion in savings bonds. The following savings bonds no longer earn interest (as of 5/2/18):But, some savings bonds have…
Health Savings Accounts
We all need health insurance and we all would like to save money and reduce taxes. Health Savings Accounts can help with all of those objectives. Health Savings Accounts (HSAs) are tax advantaged personal savings accounts to be used for medical expenses created by federal law in 2003. Congress’s objectives in creating these accounts were…
An Easy Way to Save for Any Reason
Having more money is better than having less money. And there is no easier way to save than with an automatic savings plan.
Choosing the Right Type of Accounts for Your Cash
Earning competitive returns on your “cash investments” should be part of your overall financial strategy. Make sure your money is working for you now…
Choosing the Right Checking Account
The foundation of most people’s finances is their checking account. It is usually the account where paychecks are deposited and from which most checks are written. Spending a little time to choose the right account can make your financial life simpler, maybe save you a little money and probably help you earn a little more…
Certificates of Deposit for Your Cash Reserves
Certificates of Deposit (CDs) can be ideal vehicles for investing funds that you do not need in the near term. CDs are promissory notes issued by banks, credit unions or thrift institutions. They are time deposits usually having maturities ranging from 30 days to as long as ten years. The most popular terms are from…
Building a Savings Nest-Egg
Saving doesn’t have to be impossible.
Unexpected expenses or the temptations of shopping can make even the best plans unsuccessful. Yet having a financial cushion is one of the most important things you can do to feel financially secure. Learn some key ideas to help.
Add $100,000 to Your Retirement Savings
Determining exactly how much you need to save for retirement can be complicated. To do the perfect calculation, you need to know your level of expenses during retirement, your future tax rates, the future returns on your assets and ultimately how long you are going to live. With all these uncertainties, the thought of doing…
Mistake to Avoid – Delaying Saving for a College Education
Being able to afford to send your children to the colleges of their choice, without being limited by cost, can be one of the great joys of being a parent. But, attending college is expensive. According to a study from the College Board (Trends in College Pricing 2017), the average total cost for a…
Building a Ladder of Saving Certificates
Choosing the length of savings certificates is an important decision. The issues of liquidity and the future direction of interest rates can make the decision difficult.
Podcast: Use Automatic Savings Plans to Reach Your Financial Goals
Welcome to the podcast series – Take Control of your Financial Future. One of the simplest and most effective tools you can use for almost any saving goal is an automatic savings plan. Automatic saving programs generally come in two forms – either your employer deducts a certain amount from each paycheck and deposits…
What Is The Best Way To Save For College?
What Is The Best Way To Save For College? Save often. Start early. Earn good returns on your savings. Take advantage of any tax saving strategies that may be available. The costs of attending college continue to rise. Tuition, room, meals, books, travel and other incidentals really add up. The total cost of…
Use Automatic Savings Programs to Reach Your Financial Goals
One of the simplest and most effective tools you can use for almost any saving goal is an automatic savings plan. Automatic saving programs generally come in two forms – either your employer deducts a certain amount from each paycheck and deposits it into a specific account or your financial institution moves a certain amount…