Financial Advice for Recent Graduates

May and June are the months to celebrate graduations – to some, the beginning of adulthood. Whether you are graduating from high school or college, there are certain money tips recent grads should follow to get started on the right food – and avoid debt and other financial problems. Here are our top five picks: Be smart with credit cards – Always try to pay … Continue reading Financial Advice for Recent Graduates

The Three Costliest Money Mistakes: Week 3 of 3

Last week we discussed why it is important to have an emergency fund set up. Now, for our third and final week we will take a look at why paying your bills late is another costly mistake. Paying your bills late will have more of an effect on your finances than just paying a onetime late fee. As reported in Shape Magazine, paying your bills … Continue reading The Three Costliest Money Mistakes: Week 3 of 3

The Three Costliest Money Mistakes: Week 1 of 3

Over the next three weeks, we will be discussing the “three costliest money mistakes”, according to Shape Magazine. This week we will see why waiting to open an IRA or 401(k) can cost you. Take a look at these motives to encourage you to start your retirement account now! If you wait to start saving with an IRA or 401(k) you will be: Losing money … Continue reading The Three Costliest Money Mistakes: Week 1 of 3

Reasons to Contribute to your 401(k): Week 4 of 4

Last week we discussed why tax breaks are a great motivation to contribute to a 401(k). In this fourth and final week, we will discuss our last reason why you should contribute.

Reason number 4: Your money can go with you, job to job – If you change jobs, you can put your money into your new employer’s 401(k) plan, or roll the money into what is known as a Roth IRA. You have 60 days to rollover the money; after that time you have to pay taxes on that money and a 10% penalty if under the age of 59 1/2. Continue reading “Reasons to Contribute to your 401(k): Week 4 of 4”