by Kari FaberStaff WriterYour washing machine. Your car. Your front tooth.If any of those broke right now, would you be able to get it fixed immediately? Or would you have to walk around with a gap in your smile for months until you could get the money together?If you can’t afford to pay to fix it today, you’re not alone. According to a 2020 Bankrate survey, only 41% of Americans
by Mike BrassfieldSenior WriterWe’re big on investing. It’s an important way to grow your money and set yourself up for retirement someday.But is it dangerous to be too obsessed with the stock market?You bet it is. Our financial advice columnist, Dear Penny, recently heard from a reader whose husband stopped funding his 401(k) so he can bet on the stock market, instead.Is it OK that he’s stopped contributing to his
by The Penny Hoarder Staff As cable subscription prices rise higher and higher and customer satisfaction ratings dive lower and lower, cutting the cable has never been more popular. Sure, there are the usual big names in streaming services available for a monthly fee, but it’s possible to kick subscription fees entirely. Luckily, there are more options than ever for replacing your traditional cable setup. Many free streaming services have
Best for High-Yield SavingsHigh-Yield Savings0.50%APYBest for Users Who Want to Save SmarterOnline Savings AccountUp to 0.50%APYBest for Connecting to Multiple Accounts360 Performance Savings 0.40% APYBest for Access to a Cash-Back Debit CardSavings Account0.40%APYby Kathleen GarvinContributor When it comes to savings accounts, where do you even begin? Do a quick search, and you’ll find many savings accounts with different options with varying percentages, monthly fees and minimum requirements. Not to mention
by Rachel Christian, CEPF®Senior WriterDo you dream of living in Europe?Of sitting in cafes, eating pastries and learning a new language?Ashley Fleckenstein did.But, like most young Americans, she didn’t have the money to just pick up and go — or the right qualifications to get a full-time job abroad.So Fleckenstein decided to become an au pair, an international nanny who typically provides live-in child care services to a host family.If
Real Answers for Life’s Money Challengesby Robin Hartill, CFP®Senior EditorCan I sue my ex-boyfriend and the father of my adult children for the $500 I lent him a year and a half ago? It was supposed to be repaid in two weeks, going on two years. I have proof by text him saying he would pay me back. He gets Social Security and works under the table. He has plenty of
by Kari FaberStaff WriterNobody is perfect when it comes to their finances — even millionaires slip up sometimes.So when you start to think you’re worse off than your parents, or your nephew, or your friends, remember that all 20-somethings have made mistakes that can cost them big time.But if you’re guilty of making some of these blunders, don’t fret. You can still redeem yourself! Here are some of the worst blunders
by Nicole DowSenior Writer Learning from a diverse set of people helps to expand your viewpoints, sharpen your empathy and increase your knowledge base. Likewise, the personal finance gurus you follow online and on social media should ideally represent different cultural backgrounds. We’ve created this list of eight Black financial influencers listed who are enriching the personal finance space with their unique perspectives and expert advice. Whether you’re looking for
by Quinten PlummerStaff WriterActive and passive investments are like lanes on a highway. Should you cruise in the middle lane and go with the flow of traffic? Or should you take the left lane and bypass the slowdowns?A passive investment strategy tries to keep pace with the major stock indexes, such as the S&P 500 or Dow Jones Industrial Average, while an active strategy aims to outpace them.For the average
by Elizabeth Djinis When initiating a new homeowners insurance policy, the result can always be a gamble. Will my insurance premium be too high? Should I worry about coverage limits? Will I need to purchase additional coverage?All these questions come to mind when researching insurance carriers. And if you’re a dog owner, you’ll have one more: Will my insurance company restrict my dog’s breed from coverage? And even if they
