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In the 1980s, self-driving cars and smartphones without antennas were only things youâd see in movies â unimaginable futuristic goals. Now, these âimpossibleâ inventions are part of peopleâs everyday lives. These innovative ideas were thought to be outlandish years ago until creators like Elon Musk and IBMâs team put their impossible goals to the test.

Impossible goals are things you want to achieve that seem out of the ordinary â ones that feel as if you may never reach them, even in your wildest dreams. These goals could be turning your dream side hustle into a full-time job or building your savings from zero in the next year to buy your dream home.

While the end result seems unreachable, a mix of motivation, determination, and hard work can get you further than you think. To see the strategic process of setting and achieving your biggest life goals, keep reading our jump to our infographic below.

Whatâs an Impossible Goal?

An impossible goal is a goal you think you could never achieve. Becoming a millionaire, buying your dream home, or starting a business may be your life goal, but one too big that you never set out to achieve. Instead, you may stick to your current routine and believe you should live life in the comfort zone.

Becoming a millionaire usually requires investing time, confidence, and a lot of hard work â things that may challenge you. But when you think about the highest achievers, most of them had to put in the effort and believe in themselves when nobody else did.

Flashback to 1995 when nobody believed in the âinternet storeâ that came to be Amazon. While that was considered impossible years ago, Amazonâs now made over $280 billion dollars.

In other words, when you make your impossible goals a priority, you may be pleasantly surprised by your progress. We share how to set hard financial goals, why you should set them, and how these goals could transform your financial portfolio this year.

4 Reasons to Reach for the âImpossibleâ

Impossible goals challenge you to shift your way of thinking â getting comfortable out of the safety zone. They help fine-tune your focus for daunting tasks youâre willing to put in the time and work for. Whether youâre looking to become a millionaire, buy your dream house, or pay down your debts, hereâs why you should set goals for things you think you could never achieve.

1. You May Be Pleasantly Surprised

Everything seems impossible until you do it. When youâre in elementary school, maybe you thought getting a four-year college degree would be out of reach. Regardless, you put in the time and hard work to become a college grad years later. The same goes for your potential goal to write a book. You may think itâs hopeless to write a few hundred pages in the next year, but you may find it attainable once you hit the halfway point.

2. You Check Off Micro-Goals Along the Way

Itâs hard to set your goals too low when youâre trying to reach for the stars. In the past, you may have set small goals like being more mindful with your money. While mindfulness practices are extremely beneficial for your budget, you may need more of a push to save for your dream home. By setting impossible goals, you may find it easier to reach your savings goal this year. You may have no idea how to do it, but your goal is to figure it out. Side hustles, a new job, or starting a business are all potential starting points.

3. It May Not Be as Hard as You Think

It can be uncomfortable to try something for the first time, so to avoid the doubts of reaching your goals, create a strategic plan. Download and print out our printable to breakdown each impossible goal. Start with your big goals and break them down into mini-goals. For example, if you want to start an online ecommerce store, researching the perfect website platform is a good starting point.

4. What Do You Have to Lose?

If you already live a comfortable life, you may only have experiences to gain and nothing to lose. When embarking on this journey, check in with yourself every month. Note all the lessons you learned and how far youâve come. You most likely will face failures, but youâll be failing forward rather than backwards. Your first ecommerce product launch may not have gone smoothly, but you may know how to improve for the next time around.

How To Set Impossible Budgeting Goals in 6 Steps

If your impossible goal is related to finances, your mindfulness, time, and dedication will be required to put you on a path towards your dream life. To get started, follow our step-by-step guide below.

Step 1: Map Out Your Dream Lifestyle

Get out a journal and map out your dream life. Some starter questions may be:
Do you want to afford that house youâve always dreamt about?
Do you want to have a certain amount of money in your savings?
Are you hoping to turn your side hustle into a full-time job?
What do you find yourself daydreaming about?

Track all these daydreams in a notebook and curate the perfect action plan to achieve each goal.

Step 2: Outline Micro-goals to Reach Your Financial Goals

Now, list out mini-goals to achieve your desires. Start with the big âunachievableâ goal and break it down into medium and small goals, then assign each mini-goal a due date. For example, saving $10,000 this year may take more than your current monthly earnings. To achieve this, you may create passive income streams. If that side hustle is to start a money-making blog, you may need to research steps to successfully launch your website.

Step 3: Believe and Act Like Your Future Self

Think of yourself as the future self you want to be. You may picture yourself with a certain home, financial portfolio, and lifestyle, but your current actions may not reflect your future self. Your future self may invest, but your current self is too intimidated to start. To act like your future self, consider doing the research and finding low-risk investments that suit you and your budget.

Step 4: If You Fail, Learn from Your Mistakes

When working towards your dream life, you may hit roadblocks and experience failures. As Oprah explains it, âthere is no such thing as failure. Failure is just life trying to move us in another direction.â While failure may happen, youâre able to learn from it and pivot. Every mistake you make, analyze it in your journal. Note what worked, what didnât, and what you want to do better tomorrow to surpass this roadblock.

Step 5: Track Your Results Consistently

Host monthly meetings with yourself to see how far youâve come. Consider creating a goal tracking system that suits you best. That may include checking your budgeting goals off in our app month after month. Find a system that works for you and note your growth at the end of each month. If youâre putting in the time and hard work, youâll get closer to your goals in no time.

Step 6: Be Patient With Your Budget Goals

Throughout this journey, practice patience. Setting goals may be exciting and motivating, but when youâre faced with failures, you may feel hints of disappointment. To avoid a failure slump, be patient and open to learn from your mistakes. If you didnât make what you wanted from your side hustle the first year, youâre that much closer than you were last year.

Why set your sights on hard goals? Everything feels out of reach until you do it. All it takes is motivation and determination to achieve the impossible. To boost your lifestyle, budget, and drive this New Year, consider setting goals that feel out of reach. Keep reading to see why these goals may be perfect for you. Why Set Impossible Goals for 2021? [The Ultimate New Yearâs Savings Hack] appeared first on MintLife Blog.

Source: mint.intuit.com

Why knowing your FICO Score is important: Whatâs the difference between credit scores out there?

January 30, 2021

Stella Mason

RV Tips No Comments

The following post has been sponsored by our partner, FICO. The analysis and opinions in the story are our own and may not reflect the views of FICO.Â Learn more about our editorial policy

If you recently applied for a new credit card or other kind of consumer loan from a major bank or credit union, thereâs a good chance the lender viewed your FICOÂ® Score and may have shared with you the FICO Score obtained at the time of application.

While many lenders have ongoing programs to share updated FICO Scores, you may have also seen free educational three-digit credit scores through lenders or other companies.

Most bigÂ credit cardÂ issuers offer some kind of free score to customers. Some lenders, such as Discover, are even more generous, offering free scores to anyone willing to supply their information. Discover offersÂ a free FICOÂ® Score to the general public, while some educational sites and card issuers share VantageScore.

But what is the difference between the versions? Why are they different when applying for an auto loan or mortgage or applying for a credit card? Also, what is the difference between FICOÂ® Scores and educational credit scores?

Sallie Maeâs research released in 2019 found that oneâs credit score is not top of mind for many young adults noting that many are less likely to be aware of their FICOÂ® Score and the factors that impact oneâs score, let alone what sets their different scores apart.

Hereâs a closer look at the most widely used consumer credit scores, how lenders use them and what makes each score unique.

See related:Â Which credit scores do mortgage lenders use?

How credit scores are used by lenders

For nearly three decades now, consumer credit risk scores have played an important role in lending. They not only help lenders efficiently assess/gauge new borrowers, they also give other interested parties, such as landlords or cellphone companies, a window into your credit health.

Most lenders use third-party credit scores, such as the FICOÂ® Score (used in 90% of lending decisions), forÂ soft credit checksÂ before youâve even submitted an application. A lender will then use these scores to help assess if the applicant meets the lenderâs credit criteria. Most lenders also use internal credit risk tools to help assess an applicantâs creditworthiness and determine a borrowerâs terms.

For example, a lender may use a FICOÂ® Score distributed by credit reporting agencies in conjunction with their own internal scoring models.Â These internal risk tools may take into account additional financial information included in your application, such as your income and housing payment.

(Contrary to some persistentÂ credit myths, your income is not shown on your traditional credit reports, nor is it included in your FICOÂ® Score.)

See related:Â How debt-to-income ratio affects credit card applications

Which credit score is your lender considering?

It varies by lender. Thereâs a good chance, though, that your lender is using some version of a FICOÂ® Score, since FICO continues to be the most widely used credit score. FICO has designed various FICOÂ® Score versions that are used by different industries due to different requirements. For instance, across the three credit bureaus, FICOÂ® Auto Score 8 is widely used in auto financing, mortgage lenders often rely on FICOÂ® Scores 2, FICOÂ® Score 4 and FICOÂ® Scores 5, and credit card issuers tend to check FICOÂ® Bankcard Score 8 or FICOÂ® Score 8.

FICO is considered the standard in credit scoring, trusted by lenders for decades. FICO is an independent data analytics company, meaning itâs not a credit bureau and not controlled or owned by any of the three major credit bureaus (Equifax, Experian and TransUnion). It has been an industry standard for over 30 years.

the FICOÂ® Score Open Access program (if your lender is enrolled). This way, you will be able to stay on top of your credit score and it is a free resource.

Otherwise, you will find out which score a lender used if the lender declines to make an offer of credit or offers less-than-the most favorable terms because of your credit score. Lenders are required to disclose the score that influenced the outcome of your application and key factors (if declined). The lender must also provide you with brief explanations of their decision.

What influences varying credit score models?

It depends on the score. Technically, there are many different types of FICOÂ® Scores, in addition to educational credit scoresÂ that are intended specifically for consumers who want to get a quick read of what their credit health might be, rather than provide the precise same number that lenders will review.

Itâs also important to remember that credit score developers revisit the credit score models on a regular basis following changes in data or consumer behavior. However, lenders have the option to migrate to newer credit scoring models or use multiple FICOÂ® Score models for different credit products so you may wish to inquire what FICOÂ® Score version your lender will be using as part of the credit decisioning process.

For instance, while broad-based scores address the vast majority of applicants, credit scoring models that use alternative data sources such as FICOÂ® Score XD that utilizes telecom data are available for entry-level credit products (reliably expanding credit access for over 200 million consumers), if thereâs insufficient data at the credit bureau to provide a traditional FICOÂ® Score.

The FICOÂ® Score 8 and Score 9 models (the most widely used versions by lenders) rely on information that appears in your traditionalÂ credit reports, such as your loan payments and accounts. The UltraFICOâ¢ Score, on the other hand, allows consumers to connect their checking and savings accounts cash flow data to potentially improve their score based on positive financial behavior.

Credit score versions matter

Making things a bit trickier, newer versions of your credit score may also look different from older versions of the same score, due to revisions in the way the scores are calculated. For example, a newer version of your credit score may treat a recentÂ late paymentÂ with more weight than an older version.

As a result, the parts of your credit history that count most toward the success of your application will not only depend on the type of credit score that a lender uses. It may also depend on the version of that score your lender is using.

FICOÂ® Score 10, which was released in 2020, is the first FICO scoring model to incorporate trended data, and the UltraFICOâ¢ Score is the first score to consider recency and frequency of bank transactions and the consistent amount of cash on hand.

Similarly, the VantageScore 4.0 model expands from prior versions by placing significantly more weight on your total credit usage and your debt-to-credit-ratio than on your payment history. But VantageScore 3.0 â which is still in circulation âÂ places more weight on your overall payment history than on any other component of your score. In addition, VantageScore 4.0 gives less weight to medical collections and it ignores new collection accounts that are younger than six months.

this page for the list of authorized FICOÂ® Score retailers, as well as institutions and lenders that share FICO Scores with their customers through the FICOÂ® Score Open Access program.

Bottom line

Although the term âcredit scoreâ is often used interchangeably, no matter what version is used, thereâs no such thing as a universal score. The truth is you have many different credit scores â including from the same scoring developer.

But despite the differences between scores, the basic components of a good credit score remain the same: pay your bills on time, limit your credit usage, donât close your oldest revolving account and donât go wild applying for a whole bunch of credit at one time.

If you follow those basic rules of thumb, you should be able to build a credit score that youâre proud to show off to any lender.

Source: creditcards.com

Should You Sign the Back of Your Credit Card?

January 30, 2021

Stella Mason

Credit Cards Limo Rentals No Comments

Signing the back of your credit card is an important security step for protecting your cardâs information if it should fall into the wrong hands. Merchants are supposed to check that the signature on the card matches the signature on the sales receipt as a security precaution. If a card has no signature on the back, they arenât required to process the ensuing payment.

Should You Sign the Back of Your Credit Card?

Signing the back of your credit card is always better than not, without exception. Itâs another step provided by your credit card company to try and keep your personal information as safe as possible. When used in conjunction with the card verification value (CVV) on your card, it creates a line of defense should a fraudster try to swipe your plastic.

While the signature itself doesnât protect you, the ability for a salesman to match it to your existing official signatures is where its value lies. This is done most commonly with your driverâs license, or if youâre abroad, your passport is a fine stand-in. In other words, taking a few seconds to sign that little black or white strip could be the difference between your identity being stolen and not.

Hereâs a look at how the major credit payment networks handle unsigned cards:

Mastercard

Mastercard urges merchants in its payment network not to accept charges from customers with unsigned credit cards. On the back of every Mastercard, it even says ânot valid unless signed.â

The company tries to instill in merchants that they should not process customer transactions unless the customerâs signature appears in the signature space on the back of the card.

If the card has no signature, merchants are to request the customer sign the card. A merchant also will need to see a confirming form of identification.

Visa

At Visa, merchants must verify that the signature on the back of any card matches the customerâs signature on the transaction receipt and any identification. They want to know you are who you say you are and recreating the same signature on demand when you sign for a credit card transaction is one way to do it.

Visa considers an unsigned credit card to be invalid. The words âNot Valid Without Signatureâ appear above, below or beside the signature panel on all Visa cards. Turn over the card and youâll see it. And like Mastercard, Visa urges merchants not to accept unsigned credit cards.

When a customer presents an unsigned Visa card to a merchant for payment, Visa requires a merchant to check the customerâs identification by requesting a government-issued form of ID.

Where permissible by state law, the Visa merchant may also write the customerâs ID serial number and expiration date on the sales receipt. (Beginning in California in 1971, the recording of personal information during credit card transactions has become illegal, with the passage of the Song-Beverly Credit Card Act.)

Visa also instructs merchants to ask the customer to sign the card, within full view of the merchant. They then check that the customerâs newly written signature on the credit card matches the signature on the customerâs ID. If a customer refuses to sign a Visa card, the card is considered invalid and cannot be processed. Merchants will then be forced to ask the customer for another form of payment.

Discover

Discover keeps things very simple. The company urges its cardholders to sign the backs of their Discover cards as soon as they activate them. This is because the signature makes the card valid and a cashier may decline the transaction if the card is not signed.

American Express

American Express also urges retailers to compare a customerâs signature on the back of an American Express card with the transaction sales receipt. And if an American Express card is presented unsigned, the clerk is to request a photo ID of the customer with a signature. Following this, they must request the customer sign the back of the American Express card and the sales receipt while the clerk is holding on to the customerâs photo ID.

Writing âSee IDâ on a Credit Card

Writing âsee IDâ or âcheck IDâ on a credit card might seem like a great way to protect from fraud. But it actually may invalidate the card. This is because only your valid signature that a merchant can match with a signature on a sales receipt is acceptable. In some cases, the merchant may ask you for another card to make your purchase. To save yourself from a slower-than-needed transaction at the cash register, sign your credit card as intended.

Tips for Protecting Against Credit Card Fraud

Only carry the credit cards you need. When you travel, keep a list of the credit cards that you have with you. Make note of their full account numbers and expiration dates, as well as contact numbers for the issuers. It will come in handy if something should happen to your wallet, phone or both when traveling.
Go paperless and start checking your credit card statements online to avoid having to keep and shred your paper statements. Just be sure to keep your online passwords in a safe place and to update them from time to time.
Check your credit card transactions each month to check for errors or suspicious activity. Quickly report any transaction you donât recognize to your card issuer.

Find the Top 3 Financial Advisors for You

Finding the right financial advisor that fits your needs doesnât have to be hard. SmartAssetâs free tool matches you with financial advisors in your area in 5 minutes. If youâre ready to be matched with local advisors that will help you achieve your financial goals, get started now.

Photo credit: Â©iStock.com/PeopleImages, Â©iStock.com/hsyncoban, Â©iStock.com/RichLegg

The post Should You Sign the Back of Your Credit Card? appeared first on SmartAsset Blog.

Source: smartasset.com

21 Ways You Can Learn How To Save Money In College

January 30, 2021

Stella Mason

Financial Advisor Student Loans No Comments

Looking to learn how to save money in college? With ever rising college costs, it can really help your current and future finances if you learn how to save money.

Tuition for an in-state public college averages around $25,290. Private college tuition costs twice as much, at an average of $50,900, according to Value Penguin. If you want to go to an elite, four-year university, the cost jumps to $68,000 per year.

And, if you’re going to college for something like medicine or law, you may end up paying hundreds of thousands of dollars over the years that you are in school.

As you can see, college can be very expensive.

However, I want you to know that you can learn how to save money in college so you can get a valuable college degree on a realistic budget.

Many students take out student loans to pay for college, and it can be very easy to borrow more than you actually need. While student loans do help you pay for college, having those loans hanging over your head can set your finances back by years and even decades.

And if you’re a parent trying to help your child, I’ve heard far too many stories of parents who go to great lengths to pay for school. Some take out a second mortgage, personal loans, or borrow from their retirement to send their children to college. The problem with this is that these parents are making it even more difficult to retire at their planned age. Remember, you can’t take out a loan for retirement!

College is just very expensive, but for many students it’s an important part of how they work towards a job or career they’ve always wanted. But, I want you to know that you can learn how to save money in college.

By cutting college costs, you can lower your student loan debt, or it can help parents reduce the amount they are borrowing or taking out of savings to pay for their children’s education.

Or, with these tips on how to save money in college, you may be able to attend college without racking up any student loan debt. Remember, that is also possible!

Related articles on money saving plan for students:

Learning How To Survive On A College Budget
How I Graduated From College In 2.5 Years With 2 Degrees AND Saved $37,500
How To Pay Off Student Loans (How I Paid $40,000 in Student Loans in 7 Months)
How To Balance Working And Going To College

How to save money in college.

1. Think about the value each college will offer you.

I know many students who think about which college their friends are going to or which one is ranked the highest. But, you should think about which college is best for you and your specific major.

Sometimes, the highest ranked or most expensive college may not be the best for your actual major, which can hurt you in the long run and it isn’t how to save money in college.

When thinking about whether or not a college is right for you, here are some things you’ll want to consider:

Accreditation- This is especially important if you want an advanced degree, such as medicine or law, because accreditation can determine whether or not you can go on to the next level of schooling.
Degrees- Which ones are offered by the college.
Cost- This includes the cost of tuition or the program you’re going into, plus whether scholarships or financial aid are available.
Location- If it’s close to home, can you save my living at home. But if it’s far away, you will need to think about dorm fees and the total cost of living.
Student to faculty ratio- If you need more one-on-one help with your studies, then this may be an important number to know.
The expertise of the professors- For me, I always liked having professors who had hands-on knowledge in the fields they were teaching.
Networking opportunities- A lot of life is about networking, and this is a must for some professions.

There’s a myth that expensive colleges are always better than the cheaper ones. As if higher college costs means that you’ll automatically get a great job, you’ll have an extremely high salary, and more.

One way of learning how to save money in college is to just stop believing in that myth!

In fact, according to an article in The Wall Street Journal:

From the academics [who have studied whether students from elite institutions outperform their peers or not] we know that in terms of future earnings, 1) your choice of field matters more than your choice of college, 2) after controlling for ability, the earnings differences of graduates from elite and non-elite institutions are small at best, and 3) any earnings advantage that may emerge over the long run is difficult to concretely tie back to the effects of one’s college choice.

2. You need to think about the full cost of college.

There is a lot that goes into the full cost of college, and it’s not just the initial tuition cost.

The most expensive school may actually be able to give you more scholarships than a less expensive school. That means the most expensive school may actually be the cheapest in the end, and this is why you need to think about the total cost.

And, there are still many great colleges that don’t come with a high tuition.

There are many factors that determine real college costs, and due to this, you’ll want to think about things such as:

College tuition- This will most likely be the biggest expense that you pay.
Room and board- Will you live on campus or not?
Fees- Whis can include laboratory fees, parking fees, etc.
Textbooks- Textbooks can easily cost a few hundred dollars each semester.
Financial aid- Will you receive any?
Scholarships- Will you apply for any?

Doing those last two things is one of the best ways to save for college, so please apply for scholarships and financial aid!

Considering all of the factors I’ve just listed can help you learn how to save money in college, and when you put them together, it may change your mind on which college provides the best value.

3. Remember that college isn’t the only thing that’s important.

When thinking about how to save money in college, you also want to remember that college isn’t the only thing that’s important. Yes, you definitely want to take it seriously and learn as much as possible, but there are other factors that are extremely important as well.

These other factors may play an even bigger role in helping you land the job you want.

Some of the other points you’ll want to keep in mind include:

Internships
Extracurricular activities such as college clubs
Part-time and full-time jobs
Leadership opportunities

And more!

With those things on your resume, you may put yourself ahead of others that are applying for the same position. These things are important no matter where you went to college.

Remember, companies want to see that you can apply what you learn and that you actually have experience.

4. Taking community college classes is one of the best ways to save money in college.

When you graduate with a four-year degree, the school name on your diploma will be the name of the college you graduated from. It won’t say, “graduated from here but took some classes at community college.” This is because your community college credits are transferred (if you follow the correct steps as outlined by your school).

If you are wondering how to save money in college, this is a great way to cut college costs.

Whether you are in college already or if you haven’t started yet, taking classes at a community college can be a great way to save money.

Community colleges provide an enormous value. However, many think they are too good to save money by taking classes at a community college.

Usually, earning credits at a community college costs just a fraction of what it would cost at a 4-year college, so you may find yourself being able to save thousands of dollars each semester.

You may only spend $5,000 a year at a community college (most likely even less), which is a huge difference from the costs that were mentioned at the beginning of this article.

There is also a myth that your degree is worth less if you go to a community college. That is not true at all. When you eventually earn your 4-year degree, your degree will only say where you graduated from and it won’t even mention the community college credits. Your degree will look the same as everyone else that attended your college, whether you took a few classes at community college or not. You might as well save money!

I only took community college classes during one summer semester where I earned 12 credits, and I regret not taking more. I probably could have saved around $20,000 by taking more classes at my local community college.

Also, community colleges are great for getting general type credits out of the way, so you’re not missing the interesting and in-depth classes that gives your 4-year college the reputation it’s known for.

If you decide to go to a community college first, always make sure that the 4-year college you plan on attending afterwards will transfer all of your credits. It’s an easy step to take, so do not forget! You should do this before you sign up and pay for any classes at the community college.

Related post on how to save money in college with community college: I Thought I Was Too Good For Community College.

5. Take advantage of high school classes that give you college credit.

One way of how to save money in college starts while you’re in high school. See, many high schools offer dual credit classes that allow you to earn both college and high school credits at the same time. Most of the time, these are done right at your high school, so you don’t have to go out of your way to take them!

If you are still in high school, this is something I highly recommend you look into, as it saves time and it might even be the best way to save for college.

When I was in my senior year of high school, nearly all of my classes were dual enrollment courses where I was earning college and high school credit at the same time. I took AP classes and classes that earned me direct college credit from nearby private universities.

Due to this, I left high school with around 14-18 credit hours (I can’t remember the exact amount). I had knocked out a whole semester of college before even starting. I could’ve taken more, but I decided to take early release from high school and worked 30-40 hours a week as well.

6. Take all of the credits your tuition allows for.

At community colleges, you typically pay per credit hour.

However, at many universities, you pay a flat fee for your college tuition. So, whether you take 12 credit hours or 18 credit hours, you may be paying nearly the exact same price.

This is why I recommend that students who are paying a flat fee tuition take as many classes as you can. Now, you may want to make sure your classes are balanced because 18 credit hours of demanding courses can take a toll on you. But, this will allow you to take full advantage of high college costs.

If you think you can still earn good grades and do whatever else you do on the side, definitely get full use of the college tuition you are already paying for!

7. Apply for aid and scholarships to lower your college costs.

If you want to learn how to save money in college, applying for financial aid and scholarships is one of the most important things to do.

But, according to a study by NerdWallet, for the 2018-2019 school year, students left $2.6 billion of free college money on the table. That was Pell Grant money that students qualify for by filling out the FAFSA, which is easy to fill out and necessary for any financial aid or scholarships.

So, before you start your semester, you should always look into scholarships, grants, and fill out your FAFSA (click here to read my FAFSA tips). Paperwork for the following semester is usually due around spring, so I highly recommend doing this as soon as you can if you are planning on attending college in the fall.

Sadly, many people believe that scholarships are impossible to get. That is just another myth, and it’s probably why so students missed out on so much money last year.

I received around several thousand dollars a year in scholarships to the private university I attended. That helped pay for a majority of my college tuition. The scholarships were easy for me to get because I earned good grades in high school and scored well on tests. I received scholarships to all of the other colleges I applied for as well, just for good grades, so I know you can find scholarships if you do well in school!

And, there are still other ways to find scholarships. You can receive scholarships from private organizations, companies in your town, and more. Do a simple Google search and I am sure you will find many free websites that list possible scholarships.

Tip: Many forget that you sometimes have to turn in a separate financial aid form directly to your college on top of the FAFSA form. Contact your college’s financial aid office and see if there is a separate financial aid form that you should be filling out as well. Don’t forget to do this by the deadline each year!

8. Only take out what you actually need in student loans.

One of the top money saving tips for university students that I recommend is to be careful when it comes to taking out student loans!

Many students take out the full amount in student loans that they are approved for even if they only need half of that amount.

This is a HUGE mistake. If you want to learn how to save money in college by reducing your student loan debt, start by only taking out what you truly need. You will need to pay back your student loans one day, and I know many people who regret taking out more than they need.

I know someone who would take out the max amount each semester and buy timeshares, go on expensive vacations, and more. It was a huge waste of money and I’m still not even sure why they thought it was a good idea.

Just think about it – If you take out an extra $2,000 a semester, that means you will most likely take out almost $20,000 over the time period that you are in college.

Do you really want to owe THAT much more in student loans?

9. Search for cheaper textbooks to lower your cost of college.

There are a lot of college costs, and buying textbooks is one of them.

Students usually spend anywhere from around $300 to $1,000 on textbooks each semester, depending on the amount of classes they are taking and their major. Just one textbook alone may cost as much as $400!

When I was in college, many of my classes required more than one book and each book was usually around $200 brand new. This meant if I were to buy all of my college textbooks brand new, I probably would have had to spend over $1,000 each semester.

I learned how to save money in college by renting my textbooks or buying them used. Renting was nice because I only paid one fee and never had to worry about what to do with the textbook after the class was done, as I only had to return it. I didn’t have to worry about a new edition coming out and the book being worthless. Buying used textbooks was nice because sometimes I could resell them and make my money back.

10. Don’t bring a car to college.

If you don’t need to commute off campus for work, then you may want to think about whether you may be able to realistically get rid of your car. Not everyone in college will need a car with them, and this can be an easy way for how to save money in college.

By not bringing a car, you may be able to eliminate the monthly loan payment, a campus parking permit, fuel, maintenance costs, and more.

11. Use your student ID.

Your student ID is good at many places beyond just your college campus. Before you buy anything, I highly recommend seeing if a company offers a student discount.

Your student ID can be used to save money at restaurants, clothing stores, electronics (such as a new laptop!), at the movies, public transportation, and more. You may receive a discount, free items, and more all just by showing your student ID.

After all, you are paying to go to college and you are paying a lot. You might as well reap all of the benefits of paying those high college costs.

12. Learn how to correctly use a credit card or don’t have one at all.

Many college students fall into credit card debt, but I don’t want you to be one of them.

Credit cards can seem like a good option when you are living on such a low college budget, but this can lead to thousands of dollars of credit card debt. That will eventually seem impossible to get out of due to significant interest charges that keep building up.

In order to never get into this situation, you should avoid credit cards at all costs if you think that you won’t use them well.

You should think long and hard about whether you should have one or not. Just because other students have a credit card doesn’t mean they know what they’re doing! However, if you think you will be good at using them, then there are many advantages of doing so.

Related post: 6 Credit Card Myths You Need To Know The Truth About

13. Get a free checking account.

If you’re paying for a savings or checking account, you should think again.

Opening a high yield savings account is one of the best ways of how to save money in college because it’s actually growing your savings. But, most people have their money in accounts with low rates. Unfortunately, that means many of you are losing out on some easy cash!

With Betterment Everyday, you can start earning 2.39% with a balance as low as $0.01.

How does that compare to the national average savings rate? While it’s actually higher than the ones I listed earlier, it’s still a very sad 0.09%. That is a HUGE difference from what Betterment Everyday is offering. If you are only getting 0.09%, then you are losing out on easy, passive money.

Savings accounts at brick and mortar banks are known for having really low interest rates. That’s because they have a much higher overhead – paying for the building, paying the tellers, etc. Betterment Everyday is an online option, which means they have lower costs, then passing the savings on to you.

Over a 10 year period, that same savings balance with a 2.39% balance would earn you an additional $2,390, whereas a savings account with an interest rate of only 0.09% would earn you a mere $90.

Your money is just as safe in a Betterment Everyday account as it is with a brick and mortar bank. You’re just earning more interest, which is something that everyone wanting to learn how to be rich can take advantage of.

To get started and open a Betterment Everyday account, you will:

Signing up is super easy. Simply click here and sign up.
If you join the waitlist for Betterment Everyday Checking, they will boost your Betterment Everyday Savings Account rate to 2.39%.

See, super easy!

Read more at How To Earn Over 20x The National Savings Rate.

14. Find ways to make extra money.

While I wasn’t smart enough to graduate from college without debt, I do know of many amazing people who were able to pay for their college tuition on their own while they were in school. They learned how to save money in college with the tips above, but they also found ways to make money that allowed them to pay their college tuition bill in full each month.

I did work full-time all throughout college. That helped me pay my bills, take out only what I needed in student loans, and go without any credit card debt.

Whether you only have one free hour a day or if you are willing to work 40 to 50 hours a week on top of being in school full-time, there are many options when it comes to earning extra money.

Here are some things you can do to pay for those high college costs:

Find a part-time or full-time job.
Look for a paid internship.
Make money online such as creating a blog, becoming a virtual assistant, etc.
Become an Uber or Lyft driver – Spending your spare time driving others around can be a great money maker. Read more about this in my post How To Become An Uber Or Lyft Driver.
Take online surveys. This is something I did in my early 20s. Survey companies I recommend include American Consumer Opinion, Survey Junkie, Swagbucks, Pinecone Research, Opinion Outpost, and Harris Poll Online. They’re free to join and free to use! You get paid to answer surveys and to test products. It’s best to sign up for as many as you can as that way you can receive the most surveys and make the most money.
Maintain and clean yards. You can make money by mowing lawns, killing/removing weeds, cleaning gutters, raking leaves, and so on.
Move furniture and find jobs on Craigslist. Movers can earn a broad range when it comes to hourly pay, but it’s usually somewhere around $50 an hour if you run your own business.
If you love animals, then you may want to look into how to make extra money by walking dogs or pet sitting. With this side hustle, you may be going over to your client’s home to check in a few times a day, you may be staying at their house, or the animals may be staying with you. Rover is a great company that you can sign up with in order to become a dog walker and pet sitter. Learn more about this at Rover – A Great Way To Make Money And Play With Animals.
Babysit and/or nanny children.
Sell your stuff.
Read 16 Best Online Jobs For College Students

Learn more at 100+ Ways To Make Extra Money.

Related tip on how to pay off student loans: I highly recommend Credible for student loan refinancing. You can significantly lower the interest rate on your student loans which may help you shave thousands off your student loan bill over time.

15. Sign up for birthday freebies.

Everyone has a birthday, and you may be able to score a lot of free birthday stuff by simply showing your date of birth date on your driver’s license or by signing up for a company’s email club to receive a coupon for your birthday.

This is a really fun way to learn how to save money in college and it’s easy and free for everyone!

Here are 31 Birthday Freebies You Should Sign Up For.

16. Switch to a more affordable cell phone plan.

Most people overpay for their cell phone plan – they can easily cost over $100 per month.

I know that once you find a provider you like, it can be hard to switch. But, once you know how much you can save with another company while still having great service, this is a no brainer.

If you are looking for a more affordable cell phone plan, then check out Republic Wireless. They have monthly cell phone plans for as low as $15 per month.

I have several family members who are now using Republic Wireless and they love it!

Please read Saving Over $2,000 A Year With Republic Wireless Review for more information.

17. Make a budget.

Budgets help people manage their money better. It’s that simple.

Budgets are great and one of the best ways for you to learn how to save money in college because having a budget will keep you mindful of your expenses and how much money you have in the bank. With a budget, you will know exactly how much you can spend in a category each month, how much you have to work with, what spending areas need to be evaluated, among other things.

You can download a free budget printable here.

Budgets have helped people reach their goals, pay off debt, make more money, retire early, and more. This is one of the college savings tips that will completely shape and change your financial life for the better.

Learn more at The Complete Budgeting Guide: How To Create A Budget That Works.

18. Visit the library.

When you’re in college, the library can often feel like your second home (and not always in a good way). But, did you know that your college or local library can also be a great way to have fun without spending any money.

You can check out the latest bestseller, a classic you’ve been wanting to read, or borrow movies, music, and more. There are actually a lot of libraries now who let you borrow things like cameras, GoPros, even telescopes, and more.

This is definitely one of the best ways to save money in college as all you need is a library card.

19. Find a roommate.

If you decide to live off campus, then finding a roommate is going to be one of the best ways for how to save money in college.

My husband and I have had roommates in the past. While that’s not really as possible now that we split our time living on a sailboat and an RV, I still recommend that anyone with an extra room in their house think about giving it a try.

If you find a roommate while in college, you can save a good amount of money on housing costs. And, depending on your situation, you might even be able to earn a little side income.

If you are interested in renting out a spare room on a short-term basis (such as for vacations), I highly recommend that you check out Airbnb. I know people who are making thousands of dollars a month by renting out rooms on this website.

Related blog post with more saving tips about this topic: A Complete Guide To Renting A Room For Extra Money.

20. Read personal finance books.

This is something you can and should start doing at any age because reading personal finance books can help you in so many ways. Since many schools don’t go in depth on things related to personal finance, books are a great way to improve your financial knowledge.

Personal finance books I recommend reading are:

Broke Millennial
The Year of Less
Meet The Frugalwoods: Achieving Financial Independence Through Simple Living
Work Optional: Retire Early the Non-Penny-Pinching Way
The Broke and Beautiful Life
Real Money Answers for Every Woman
You Only Live Once
The Recovering Spender: How to Live a Happy, Fulfilled, Debt-Free Life

You can find the whole list of personal finance books I recommend here.

21. Other ways you can help your child get through college.

If you’re a parent and you’re reading this, then you may be wondering how you can help your child in college but not go broke yourself.

If you cannot afford to pay for your child’s college costs, or if you decide that you just do not want to, there are many other things you can do to help them. You should also read this You Don’t Have To Go Broke For Your Kid’s Education.

I believe that parents should only fund their child’s college education if the parent is on track for retirement.

This is because there are many ways to pay for college (paying for it with cash, student loans, grants, scholarships, etc.), but there is only one way to fund your retirement.

Remember, you cannot take out a loan for your retirement!

This means you should not wreck your retirement plans to help your children through college. You should analyze your financial situation first and where you are on your track for retirement to see if helping your children through college is possible. If it’s not possible, be realistic with yourself and your child.

There are many ways to help your children with college costs that don’t involve paying for their college tuition.

You can:

Help your child understand personal finance. Helping your child create a budget, use credit cards correctly, and understanding college costs, will help them greatly in life. I recommend reading How To Create a Budget.
Support them and help them make a plan. Even if you are not offering financial support for college, you can always support your children in other ways. This doesn’t mean that you have to agree with what they do, rather help them by giving advice and coming up with a solid financial and college plan.
Help your child find ways to make money. There are tons of ways to make extra money, and helping your children find ways to do so can help them pay for college and their living expenses.
Inform your children about affordable college alternatives. For example, your child may only think they should go to an expensive private university, but it’s important for you to inform them on how to save money in college with more affordable alternatives, such as going to a community college or a state university.
Help your child apply for scholarships. There are numerous scholarships that your child may qualify for. Some may require them to write essays, whereas others are based on high school grades. Most take very little effort and are given away by the college itself, this makes applying for them a no brainer!
Help your child in other ways. For some reason, there is this myth that helping your child go to college means you need to pay for everything. Instead of paying for their tuition, textbooks, food, dorm, car, and everything else, set limits on the college costs that you’ll pay for. You can help by giving them emotional support, letting them stay in your home while they are in college, helping them find ways to save money for college, helping them cut their college expenses, and more.

What other ways are there to learn how to save money in college? How much student loan debt do you have?

The post 21 Ways You Can Learn How To Save Money In College appeared first on Making Sense Of Cents.

Source: makingsenseofcents.com

Cities Where Residents Have the Worst Commutes â 2021 Edition

January 30, 2021

Stella Mason

Apartment Life Checking Account No Comments

How far you live from work, school and other places you frequent can cost you time, money and health. The U.S. Census says that the average commute takes Americans 27.6 minutes each way. Thatâs more than 240 hours annually, if you commute twice every workday in 2021. And now that many people have cut back their commutes by working from home during the COVID-19 pandemic, you might be thinking about how to save money by carpooling or biking, or you might consider moving to shorten the commuter distance. In either case, SmartAsset examined the largest cities in America to uncover the worst commutes in 2021. Find out how your commute measures up against them.

We compared data from the 100 largest U.S. cities and ranked the worst commutes by six key metrics: commuters as a percentage of workers, average travel time to work, five-year change in average travel time, percentage of workers with a commute of more than 60 minutes, five-year change in percentage of workers with a commute of over 60 minutes, and transportation as a percentage of income. For details on our data sources and how we put all the information together to create our final rankings, check out the Data and Methodology below.

This is SmartAssetâs second study on the worst commutes in America. Check out the 2020 version here.

Key Findings

California leads the country as the state with the worst commutes. Eight out of the 11 cities on this list are located in the Golden State, averaging 33.6 minutes in travel time to work. Commuters in those cities need twice as long as those with the shortest commute â in Lubbock, Texas, which averages a little more than 16 minutes on a trip to work.
The overwhelming majority of workers in America are commuters. On average, 94.3% of workers in the 100 largest U.S. cities are commuters, based on the most recently available Census data from 2019. Scottsdale, Arizona has the smallest percentage of commuters, but it still has 82.1% of its workers traveling to their jobs. Newark, New Jersey has the highest percentage, with 98% of workers averaging almost 35 minutes commuting.
The Midwest still offers better commutes. Cities in Northeastern, Southern and Western states tend to rank in the worst third of the study for their less-than-ideal commutes. While Chicago, Illinois and Cincinnati, Ohio crack the top 35 cities with the worst commutes, all other Midwestern cities rank in the bottom half of the list for their relatively short commutes.

1. Riverside, CA

Ranked as the worst commuting city in America, Riverside, California takes the greatest toll on its workers in transit, with 18.6% of them averaging more than 60 minutes on a trip to work. And data shows that commutes are getting longer, with a 3.7% five-year increase (2014 to 2019) in workers traveling for more than one hour. Riverside commutes average 33.9 minutes each way, and this travel time has also increased 13.38% over the same five years.

2. Stockton, CA

Ranking second-worst, Stockton, California saw an increase of 18.68% in average travel time over the five-year period from 2014 to 2019. Data shows that 17.8% of workers in this Central Valley city average more than 60 minutes on their commute to work, the fifth-highest percentage for this metric across all 100 cities we studied. The average travel time for residents there is 32.4%, ranking 11^th overall.

3. Hialeah, CA

Commute times in Hialeah, Florida, a Miami suburb, have spiked more than any other city in the study with a 26.81% jump between 2014 and 2019. Hialeah has also seen the biggest percentage 2014-to-2019 increase for workers commuting longer than 60 minutes, a 6.1% uptick. However, it is important to note that the cityâs percentage of commuters is relatively small: With just 91% of all workers traveling to work, this city ranks 90^th out of 100 for this metric in our study.

4. Glendale, AZ

Between 2014 and 2019, the number of workers in Glendale, Arizona with commutes longer than an hour increased 5.6%. This is the second-highest uptick for this metric overall. The percentage of workers with a commute longer than 60 minutes is 12.1%, ranking 16^th-highest out of 100. Data shows that with 94.9% of Glendale workers commuting, they average 31.5 minutes on each trip.

5. Los Angeles, CA

Los Angeles, California has seen a five-year (2014 to 2019) increase of 3.3% in workers commuting longer than 60 minutes, the ninth-biggest jump for this metric in the study. With 93.5% of the workforce commuting, 15.4% of Angeleno workers need more than one hour each way to their jobs, the 11^th-highest percentage for this metric overall. That said, they only spend 7.91% of their income on commuting, ranking 77^th out of 100 for this metric.

6. Oakland, CA

Workers in Oakland, California average 34.4 minutes on each trip to work, the seventh-longest travel time in the study. Oaklanders also rank seventh-highest for the percentage of workers with trips longer than 60 minutes, with 16% of them making treks longer than an hour to the office in 2019. However, Oakland has one of the cheapest commutes, as workers there spend only 5.45% of their income on travel to work, the fourth-lowest rate for this metric overall.

7. Fremont, CA

Fremont, California has seen a 4.3% increase in five years for workers commuting longer than 60 minutes on each trip, the fifth-highest in the study. Residents there also have the third-longest travel time, averaging 36.4 minutes on each commute, and the second-largest proportion of the workforce commuting longer than one hour, at 20.2%. Fremont workers, however, spend only 5.45% of their income on travel to work, tying for fourth-lowest for this metric.

8. San Jose, CA

Located in the heart of Silicon Valley, San Jose, California has the most affordable transportation on our list. Workers there spend only 5% of their income on travel to work. Despite those relatively low costs, San Jose still ranks as the eighth-worst commuting city on our list. Workers average 31.7 minutes on each commute, and they have seen a 14.44% increase in travel time over the five-year period from 2014 to 2019. Data also shows that San Jose has seen a 4.8% increase over that time period in commuters traveling more than one hour per trip.

9. San Francisco, CA

San Francisco, California averages 34.7 minutes on each commute, the sixth-longest travel time in the study. The Bay Area city also has one of the largest groups of workers commuting the longest, with 15.7% needing more than 60 minutes to commute one way. That said, San Francisco workers have a relatively affordable commute, as residents there spend only 5.45% of their income on travel for work. The city ties for fourth-lowest out of 100 for this metric.

10. New York, NY (tie)

New York City ties with Long Beach, California for the final spot in the 11 cities where residents have the worst commutes. The average travel time for New Yorkers is 41.7 minutes, the longest travel time in our study. New York City also has the highest percentage of workers who travel more than 60 minutes each way, at 27.2%. Despite the duration, the city ranks 16^th-lowest out of 100 for transportation costs, with workers spending less than 8% of their income on commuting.

10. Long Beach, CA (tie)

Long Beach, California ties with New York as the 10^th-worst U.S. city for residentsâ commutes. Residents there have seen a 2.1% increase over the five-year period from 2014 to 2019 in the number of workers traveling more than one hour to work each day. Long Beach has the 12^th-longest commute on our list, averaging 32 minutes for each trip. And 14.9% of the workforce is traveling for longer than 60 minutes during each trip, the 12^th-largest for this metric in the study.

Data and Methodology

To find the cities with the worst commutes, we compared the 100 largest cities in the country across the following metrics:

Commuters as a percentage of workers. Data comes from the Census Bureauâs 2019 1-year American Community Survey.
Average travel time to work in 2019. Data comes from the Census Bureauâs 2019 1-year American Community Survey.
Five-year change in average travel time. Data comes from the Census Bureauâs 2019 and 2014 1-year American Community Surveys.
Percentage of workers with a commute of longer than 60 minutes. Data comes from the Census Bureauâs 2019 1-year American Community Survey.
Five-year change in percentage of workers with a commute of longer than 60 minutes. Data comes from the Census Bureauâs 2019 and 2014 1-year American Community Surveys.
Transportation as a percentage of income. Data comes from the Census Bureauâs 2019 1-year American Community Survey and the March 2020 MIT Living Wage Study.

First, we ranked each city in each metric. We then found each city average ranking, giving all metrics an equal weight except for average travel time, which received a double weight. Next, we ranked the cities based on this average, giving the city with the highest average an index score of 100 and the city with the lowest average an index score of 0.

Tips for Managing Your Money While on the Go

Locate a one-stop shop for expert financial support. Need something to do on a long commute? Think about finding a financial advisor. Finding the right financial advisor that fits your needs doesnât have to be hard. SmartAssetâs free tool matches you with financial advisors in your area in five minutes. If youâre ready to be matched with local advisors that will help you achieve your financial goals, get started now
Take a new route in your budget management. If transportation is eating up a lot of money, consider creating a budget using SmartAssetâs free budget tool.
Plan your road to retirement. Itâs never too early â or too late, for that matter â to start saving as much as you can for retirement. Get ready for your golden years by saving using a 401(k) or other workplace retirement plan.

Questions about our study? Contact [email protected]

Photo credit: Â©iStock.com/simonkr

The post Cities Where Residents Have the Worst Commutes â 2021 Edition appeared first on SmartAsset Blog.

Source: smartasset.com

How to Figure Out Your Family’s Grocery Budget (and Stick to It!)

January 29, 2021

Stella Mason

Cash Back No Comments

The post How to Figure Out Your Family’s Grocery Budget (and Stick to It!) appeared first on Penny Pinchin' Mom.

One question I see time and again is âHow much should I spend on groceries for my family of four ?â â or three, five, etc.

When youâre making a household budget, itâs easy to know how much you need to include for most of your living expenses, like utilities, student loans, and even fuel. But when it comes to your average grocery bill, how much should you expect?

As much as I wish there were a simple answer, a family’s grocery budget will be different for every household. There’s no right or wrong number, but finding yours is key to keeping your grocery spending in check.

Hereâs a guide to help you figure out how much you should spend on food each month.

WHY YOU NEED A GROCERY BUDGET

It may sound like it should go without saying, but you need a food budget because it will force you to think about money when youâre grocery shopping. After all, your income is a certain amount, and that means you only have a certain amount of money you can spend on food for your family.

The other reason you need a frugal food budget is to make sure you donât spend too much money for the food your family needs (and to save money by not buying food you donât need). You become smarter about your spending and think twice before adding impulse purchases to your shopping cart.

HOW MUCH TO BUDGET FOR FOOD

It can be tough to figure out how much you *should* budget for food vs. what youâre currently spending on your meals. There is not a right or a wrong number, but you must find the right amount so you donât overspend.

Here are some tricks you can try to help you figure out exactly how much to spend on food per month.

Budgeting Hack 1: Use the National Average

According to the U.S. Department of Agriculture, the average household spends about 6% of its income on groceries each month. However, the study also shows that the average American also spends 5% of his or her disposable income on dining out. That makes your food budget 11% of your overall income — a significant expense!

If you want to keep things simple and use the national average to calculate your monthly grocery budget, then plan on spending 6% for groceries and an additional 5% for dining out.

Here is an example: If your take-home pay is $3,000 a month, you will budget around $180 for groceries and $150 for dining out. Of course, if $180 wonât cover your needs, then you need to commit to a more thrifty plan: Scale back on eating out and use any additional money toward your grocery needs.

Budgeting Hack 2: Use Your Actual Spending

A more realistic way to figure out how much to budget for groceries is to look at your current grocery spending. An easy way to do this is by completing a spending form.

Here’s how it works. Review all your purchases over several pay periods. You should include food spending, fuel, dining out, entertainment â everything. Having all the numbers in front of you will help you calculate the average of how much you’re spending on groceries (and all your other budget categories!) every week.

If you think your expenses for food add up to too much money, you can try to reduce your spending. Just keep in mind that your family will have to adjust the way you eat.

Budgeting Hack 3: Use a Grocery Calculator

Sometimes, you want to get specific help when figuring out how much to budget for food. There is a simple to use, online grocery budget calculator; you can use it for free.

Fill out the information for all of your family members, then hit calculate. It will return an average you should plan on budgeting for your family.

I ran this report for my family, and the result said we should plan on $219.35 for an average grocery budget for our family of five. That is more than we spend. On average, I spend $125 â $150 per week on everything our family needs.

While using a budget calculator can be helpful, it might end up doing the same thing for you: Suggest an amount that is higher than what you know you spend — or is higher than what you can afford. Use this calculator as a guide, but not the only factor when determining your budget.

Budgeting Hack 4: Look at the U.S. Average

Another way to reach a grocery budget amount is to look at the plans created by the USDA. The most recent plans are on their website. They provide the weekly cost for a thrifty, low-cost, moderate-cost and liberal plan on a weekly and monthly basis. The amounts are broken down by gender and age. You will need to total the numbers listed for the people in your family.

For example, the average grocery budget for a family of four is about $871, per this report. The amounts will be lower, of course for a family of three or higher if you need to budget for a family of five.

Once again, these numbers should be a guide. Once you start grocery shopping for your family, you may find that you spend much less â or even more â than what the average family spends on groceries.

Donât Forget Special Dietary Needs

If you have a family member who cannot eat gluten or who has other dietary restrictions, these can affect your budget. Make sure you keep these foods in mind when developing your budget as they can cost much more than average foods or require trips to a specialty grocery store.

TRICKS TO MAKING A MONTHLY FOOD BUDGET

There is no magic formula or grocery budget app that will pull the numbers together for you. The key is to make sure that you put forth the effort in the right manner to make it work for you. Keep the following in mind when figuring your monthly food budget:

1. Consider Your Current Spending

Before you can make any changes, you have to know where you are starting. That way, you can see what you currently spend on your groceries so you can start cutting back.

Need help figuring our your average grocery bill?

You can use the Spending Worksheet and go back to find your spending on food over the past 8 weeks. Look at every transaction in your bank statement and total it. Then, divide that amount by two. You know have an average your family spends on food every month.

The next step is going to be finding a way to not only spend that amount going forward but try to find ways to spend even less if you can.

2. Put It in Writing

The next things you need to when creating your budget for food is to put it in writing. Once written down, you are more willing to commit to the process. Make sure your spouse or partner is also on board so you can work together to ensure you donât overspend.

3. Start Using Cash

If you really want to stick to a tight budget, you need to use cash. Each payday, get cash from your bank for the amount youâll need at the grocery store. That is all you have to spend until the next payday. No cheating! That means you canât whip out your debit card if you run out of money.

Youâll quickly learn better ways to be smart and strategic when figuring your budget and sticking to it. (Read more about how to start using a cash envelope budget ).

4. Commit to Using Your Budget

You can have the greatest intent to use a budget, but if you arenât ready to do so, it will never work. It is just like dieting. You may know you want to shed pounds, but if you are not willing to put in the effort, the weight will never come off.

Once you know the amount you have to spend at the grocery store, you need to stick to it (this is another reason to use cash). You have to make the conscious decision that you want to budget and then do all you can to make it work.

Your spouse or partner needs to be on board, too. It will never work if one of you is committed to making your grocery budget work and the other is not. Have a long heart to heart talk and make sure you are on the same page.

Read more: How to talk to your spouse about money

GROCERY SHOPPING ON A BUDGET

If youâve tried all these ideas and still need to save money on groceries, here are some simple tricks you can try.

Reduce Your Dining Out Budget

Stop eating as many restaurant meals. That’s an easy way to find money to add to your grocery shopping budget, especially if this means you’re cutting back on alcohol spending at restaurants.

Use Coupons

While they are not for everyone, coupons are the simplest way to save money on the items you need. Even if coupons arenât available for the grocery items you need, you can find them for household products you use, like toilet paper and laundry detergent, thereby reducing your spending and increasing the money you can spend on the foods you want.

Stick to Your List

Never shop without a list and only purchase the items on your list. Put in writing or use a grocery list app and donât be tempted to add extra items to the cart.

Make a Meal Plan

Create a meal plan before you grocery shop. That way, you have a plan for the week not only to know what you will eat but also to make sure the ingredients will be on hand when it’s time for meal prep (reducing those frequent drive-thru meals). Meal planning saves you time, money, and the stress of figuring out âMom, whatâs for dinner?â without resorting to frozen pizza.

Keep a Price Book

Start watching the sales cycles at your grocery store and youâll learn when it is time to stock up on your pantry staples, so you always pay the lowest price. Keep track of the prices in a price book for every item your family needs. (Bonus: When you get good at identifying your storeâs food cost cycles, you can plan a meal or two around the fresh foods on sale in any given week.)

Add a Meatless Meal

One item that can quickly increase your grocery bill is meat. Try having a meal without meat every week (like Meatless Mondays), and youâll find that you spend less.

Vegetables are cheaper than meat and can be just as filling. Having vegetables for your main course at dinner is not only healthy but can also help with saving money. Try loaded sweet potatoes, pasta with veggie sauce, or cheese and vegetable pizza for a delicious meal.

If veggies are a hard sell for your family, try fruit salads or breakfast for dinner â pancakes and French toast are cheap and fast!

Buying fresh fruit and vegetables that are in-season can help you save even more on your monthly grocery bill. And frozen vegetables and fruit are often cheaper (and tastier) than “fresh” produce that’s not in-season.

Pro tip: When you’re buying meat, remember that cuts like chicken thighs are often significantly cheaper than chicken breasts, and they have more flavor. Get more tips on saving money on meat, produce, and dairy products.

Thereâs an App for That

There are many grocery savings apps that can help you keep tabs on food prices and create a smarter shopping list. What is great about an app is that you always have it with you on your phone, so no worry that you left a coupon at home or in your car.

Steer Clear of Mistakes at the Grocery Store

When you grocery shop, there are temptations around every corner (and I don’t just mean the ice cream and chocolate chip cookies). There are sales on the end caps, fancy signs and different tricks stores use to make you spend more money. Learn about the ways grocery stores get you to spend more money so you can avoid them.

Avoid Haste and Waste

One of the biggest ways people waste money when it comes to food is through waste. People often buy food that goes bad before they get around to eating it.

You might also waste money buying convenience foods. (That frozen meal might seem like a deal when you’re running low on time, but you’ll save more if you prepare big batches of homemade, healthy food and freeze some leftover portions for later.)

These are two ways you are killing your grocery budget. Study your habits and find ways to make changes so you arenât wasting money on food.

Pro tip: One convenience food I occasionally give into is a rotisserie chicken. It’s ready to eat when I get home from the store, and you can use it in a few other meals during the week.

NOW GO SAVE MONEY ON YOUR GROCERIES!

Take the time to create a grocery budget that is both frugal and feasible for your family. Donât try to make the dollar amount so low that it is unrealistic, or it will fail month after month. But if you pay attention while youâre shopping and keep an eye on how long the food lasts your family, youâll soon discover that having a realistic grocery budget is the tastiest way to save money!

The post How to Figure Out Your Family’s Grocery Budget (and Stick to It!) appeared first on Penny Pinchin' Mom.

Source: pennypinchinmom.com

What You Need to Know About Budgeting for Maternity Leave

January 29, 2021

Stella Mason

Budgeting Cash Back Family Finance Frugal Living No Comments

Prepping for a new baby’s arrival might kick your nesting instinct into high gear, as you make sure everything is just right before the big day. One thing to add to your new-baby to-do list is figuring out how to financially prepare for maternity leave if you’ll be taking time away from work.

Lauren Mochizuki, a nurse and budgeting expert at personal finance blog Casa Mochi, took time off from work for the births of both her children. Because she had only partial paid leave each time, she says a budget was critical in making sure money wasn’t a source of stress.

“The purpose of budgeting for maternity leave is to have enough money saved to replace your income for your desired leave time,” Mochizuki says.

But the question “How do I budget for maternity leave?” is a big one. One thing’s for sureâthe answer will be different for everyone, since not everyone’s leave or financial situation is the same. What matters most is taking action early to get a grip on your finances while there’s still time to plan.

Before you get caught up in the new-baby glow, here’s what you need to do to financially prepare for maternity leave:

1. Estimate how long you’ll need your maternity budget to last

To financially prepare for maternity leave, you need to know how long you plan to be away from work without pay.

The Family and Medical Leave Act (FMLA) allows eligible employees up to 12 weeks of job-protected, unpaid leave from work per year for certain family and medical reasons, including for the birth of a child. Some employers may also offer a period of paid leave for new parents.

When estimating how long you’ll need your maternity budget to last, Mochizuki says to consider how much unpaid leave you plan to take based on your personal needs and budget. For example, you could find you’re not able to take the full period offered by FMLA after reviewing your expenses (more on that below) and how much you have in savings.

Even if your employer does offer paid maternity leave, you may decide to extend your time at home by supplementing your paid leave with unpaid time off, Mochizuki says.

Keep in mind that despite all of your budgeting for maternity leave, your health and the health of your baby may also influence how much unpaid time off you take and how long your maternity leave budget needs to stretch.

As you’re financially preparing for maternity leave, make sure your spouse or partner is also considering what benefits may be available to them through their employer. Together you should know what benefits are available for maternity or paternity leave, either paid or unpaid, and how to apply for them as you jointly navigate the budgeting for maternity leave process. You can then decide how to coordinate the amount of time each of you should take and when that leave should begin.

Contact your HR department to learn about your company’s maternity leave policy, how to apply for leave and whether there are any conditions you need to meet to qualify for leave. Ask if you’re able to leverage sick days, vacation days or short-term disability for paid maternity leave.

2. Babyproof your budget

When budgeting for maternity leave, make sure you review your current monthly budget to assess how budgeting for a new baby fits in.

In Mochizuki’s case, she and her husband added a category to save for maternity leave within their existing budget for household expenses (e.g., mortgage, utilities, groceries).

“We treated it as another emergency fund, meaning we had a goal of how much we wanted to save and we kept working and saving until we reached that goal,” Mochizuki says.

As you financially prepare for maternity leave, consider the following questions:

What new expenses need to be added to your budget? Diapers, for instance, can cost a family around $900 per year, according to the National Diaper Bank Network. You may also be spending money on formula, bottles, wipes, clothes and toys for your new one, all of which can increase your monthly budget. And don’t forget the cost of any new products or items that mom will need along the way. Running the numbers with a first-year baby costs calculator can help you accurately estimate your new expenses and help with financial planning for new parents.
Will any of your current spending be reduced while you’re on leave? As you think about the new expenses you’ll need to add when budgeting for maternity leave, don’t forget the ones you may be able to nix. For example, your budget may dip when it comes to commuting costs if you’re not driving or using public transit to get to work every day. If you have room in your budget for meals out or entertainment expenses, those may naturally be cut if you’re eating at home more often and taking it easy with the little one.

3. Tighten up the budgetâthen tighten some more

Once you’ve evaluated your budget, consider whether you can streamline it further as you financially prepare for maternity leave. This can help ease any loss of income associated with taking time off or counter the new expenses you’ve added to your maternity leave budget.

Becky Beach, founder of Mom Beach, a personal finance blog for moms, says that to make her maternity leave budget workâwhich included three months of unpaid leaveâshe and her husband got serious about reducing unnecessary expenses.

Cut existing costs

As you budget for maternity leave, go through your existing budget by each spending category.

“The best tip is to cut costs on things you don’t need, like subscriptions, movie streaming services, new clothes, eating out, date nights, etc.,” Beach says. “That money should be earmarked for your new baby’s food, clothes and diapers.”

Cutting out those discretionary “wants” is an obvious choice, but look more closely at other ways you could save. For example, could you negotiate a better deal on your car insurance or homeowner’s insurance? Can you better plan and prep for meals to save money on food costs? How about reducing your internet service package or refinancing your debt?

Find ways to earn

Something else to consider as you budget for maternity leave is how you could add income back into your budget if all or part of your leave is unpaid and you want to try and close some of the income gap. For example, before your maternity leave starts, you could turn selling unwanted household items into a side hustle you can do while working full time to bring in some extra cash and declutter before baby arrives.

Reduce new costs

As you save for maternity leave, also think about how you could reduce expenses associated with welcoming a new baby. Rather than buying brand-new furniture or clothing, for example, you could buy those things gently used from consignment shops, friends or relatives and online marketplaces. If someone is planning to throw a baby shower on your behalf, you could create a specific wish list of items you’d prefer to receive as gifts in order to offset costs.

4. Set a savings goal and give every dollar a purpose

When Beach and her husband saved for maternity leave, they set out to save $20,000 prior to their baby’s birth. They cut their spending, used coupons and lived frugally to make it happen.

In Beach’s case, they chose $20,000 since that’s what she would have earned over her three-month maternity leave, had she been working. You might use a similar guideline to choose a savings goal. If you’re receiving paid leave, you may strive to save enough to cover your new expenses.

As you make your plan to save for maternity leave, make sure to account for your loss of income and the new expenses in your maternity leave budget. Don’t forget to factor in any savings you already have set aside and plan to use to help you financially prepare for maternity leave.

Once you’ve come up with your savings target, consider dividing your maternity savings into different buckets, or categories, to help ensure the funds last as long as you need them to. This could also make it harder to overspend in any one category.

For instance, when saving for maternity leave, you may leverage buckets like:

Planned baby expenses
Unexpected baby costs or emergencies
Mother and baby healthcare

“The purpose of budgeting for maternity leave is to have enough money saved to replace your income for your desired leave time.”

– Lauren Mochizuki, budgeting expert at Casa Mochi

Budgeting for maternity leaveâand beyond

Once maternity leave ends, your budget will evolve again as your income changes and new baby-related expenses are introduced. As you prepare to go back to work, review your budget again and factor in any new costs. For example, in-home childcare or daycare may be something you have to account for, along with ongoing healthcare costs for new-baby checkups.

Then, schedule a regular date going forward to review your budget and expenses as your baby grows. You can do this once at the beginning or end of the month or every payday. Take a look at your income and expenses to see what has increased or decreased and what adjustments, if any, you need to make to keep your budget running smoothly.

Budgeting for maternity leave takes a little time and planning, but it’s well worth the effort. Knowing that your finances are in order lets you relax and enjoy making memoriesâinstead of stressing over money.

The post What You Need to Know About Budgeting for Maternity Leave appeared first on Discover Bank – Banking Topics Blog.

Source: discover.com

4 Questions to Ask Before Choosing a Checking Account

January 29, 2021

Stella Mason

Apartment Communities No Comments

You’ve probably had a checking account for most of your life and never gave it much thought. It’s just there to store your everyday cash, right? Not necessarily.

If you’re considering questions about checking accounts as you take a closer look at your current setup and explore opening a new one, it’s important to note that checking accounts are designed with different and unique features. Some may even be more beneficial to you than you realize.

For starters, most checking accounts offer a host of conveniences, providing customers the ability to set up automatic payments for routine bills, schedule electronic transfers and make all deposits and transfers via a smartphone app. Some accounts even allow you to earn cash back on your debit card purchases.

âA checking account can have a long-term impact on your financial well-being, so it’s worth taking the time to figure everything out,” says Jeff Kreisler, money expert and author of the personal finance book “Dollars and Sense.”

At this point, you might be thinking, “What questions should I ask before opening a checking account?” To help you decide which account is right for you, here are four key questions to ask yourself:

1. What types of checking accounts should I consider?

Before you open a new checking account, do a little homework to learn about the different types of checking accounts offered by banks, Kreisler says. There’s the standard personal checking account that allows you to write checks and make payments with your debit card or electronically. But when thinking about questions to ask when opening a checking account, go beyond the basic features to find an account that best fits your lifestyle and financial goals. Here are some examples:

Online checking account: Ready to bypass the teller lines with the benefits of an online bank? Then this is the checking account for you. Doing your banking from any computer or mobile device is sweetâand since online banks don’t have brick-and-mortar locations, they can often pass their savings from overhead down to you. Just verify that the online bank or credit union supplying the checking account is backed by the FDIC or the National Credit Union Administration.
Rewards checking account: One question to ask before choosing a checking account is if you can earn rewards or incentives for certain activity. Discover Cashback Debit, for example, lets you earn 1% cash back on up to $3,000 in debit card purchases each month.¹ That means your monthly cashback earnings could yield $360 in total rewards each year (finally, dinner and drinks at that new French bistro in town!). Some banks may also offer a checking account bonus just for opening a new account, while others have a variety of reward options based on certain qualifying purchases. A rewards checking account works for almost anyone looking to maximize their debit spend or a balance they regularly hold in their checking account.

Say hello to
cash back on debit
card purchases.

No monthly fees.
No balance requirements.
No, really.

See Details

Discover Bank, Member FDIC

Joint checking account: Most checking accounts can be opened as a joint checking account, which is an account held by two or more people. This can be a convenient solution for couples, minors and their parents and even seniors and their caregivers who are trying to manage a household budget. It does require good record keeping and communication, so make sure you understand the ins and outs of joint accounts before choosing this option.

The above checking accounts are the most standard and usually have appealing benefits. But if you have more questions about checking accounts, there are options that can cater to more specific needs. However, they often have less flexibility. For instance:

Interest-bearing checking accounts are available for those who want to earn some money while their cash is parked in the account. The rate of return is usually low and minimum balance requirements high.
Student checking accounts are often low-cost, but they could come with limitations. Whether or not a student account is available may be a good question to ask before choosing a checking account if you’re looking for a starter account for yourself or your child.
Second-chance checking accounts could be a fit for those who may not be able to get a standard checking account due to their banking or credit history; however, they often have higher fees.

“A checking account can have a long-term impact on your financial well-being, so it’s worth taking the time to figure everything out.”

– Jeff Kreisler, money expert and author of Dollars and Sense

2. Are there fees associated with the checking account?

This is one of the most commonly asked questions about checking accounts. Before choosing a checking account, be sure to research its fees, says Marc Bernstein, financial planner and strategist for MWealth Advisors. Types of fees and fee amounts can vary greatly from bank to bank, and even among accounts at the same bank.

A question to ask when opening a checking account is if the account charges fees for ATM use, automatic bill pay, monthly maintenance, ordering checks, replacing a debit card or ordering official bank checks. Banks may charge any combination of these feesâor none. Discover Cashback Debit comes with no fees. Period.² That means you won’t be charged a fee for any of these services.

Along with including the fee topic on your list of questions to ask before choosing a checking account, you should also consider obtaining “a document outlining the fees you’ll be paying, in case you have any questions, and check the fine print,” Bernstein says. You can also typically find a list of fees (if any) on the bank’s website or in the account agreement.

3. Is there a minimum balance requirement?

According to Bernstein, among the questions to ask when opening a checking account is if it requires an initial minimum balance to open. You’ll also want to know if a minimum balance needs to be maintained to avoid a fee.

Bernstein suggests looking for an account with no minimum balance requirement if you tend to keep less than $1,000 in your account or like to have flexibility when making large withdrawals.

If you’ve asked this question about checking accounts and are still comparing accounts that have a minimum balance requirement, realistically determine how much you can keep in your account per month and what you will be charged if you can’t keep that balance.

Even if your account falls below a minimum requirement, there could be a way to save on fees. If you have multiple accounts at one bank, the bank may allow you to combine the balances to waive checking fees.

The total average cost of withdrawing cash from an out-of-network ATM is $4.68. That’s 36 percent higher than it was 10 years prior, with no signs of decreasing.

– Bankrate’s 2018 checking account and ATM fee study

4. What ATM fees could I incur?

If you frequent the ATM to take out cash, a good question to ask before choosing a checking account is: Where are the bank’s ATMs located in relation to your home and work?

Availability of ATMs is an important question to ask when opening a checking account that can really affect your wallet. For instance, if you decide to withdraw money from an ATM that’s not in your bank’s network, you can get hit with two separate charges: a surcharge from the ATM owner (since you’re not a customer) and a fee from your own bank.

And those fees can really add up. According to Bankrate’s 2018 checking account and ATM fee study, the total average cost of withdrawing cash from an out-of-network ATM is $4.68. That’s 36 percent higher than it was 10 years prior, with no signs of decreasing.

One way to get cash without paying an ATM fee is to use your own bank’s ATMs. The more ATM locations that your bank offers that are conveniently located, the less likely you are to use one that’s out-of-network and rack up unnecessary charges. If you can’t always use your own bank’s ATM, one of the questions to ask when opening a checking account is whether your bank allows you to use a broader ATM network for no-fee transactions.

Find the best checking account for you

Opening a new checking account is an important step toward establishing, or rebuilding, your financial foundation.

Now that you can ask the right questions about checking accounts, you’re one step closer to choosing an account that fits your individual needs. And that feels like money in the bank.

¹ ATM transactions, the purchase of money orders or other cash equivalents, cash over portions of point-of-sale transactions, Peer-to-Peer (P2P) payments (such as Apple Pay Cash), and loan payments or account funding made with your debit card are not eligible for cash back rewards. In addition, purchases made using third-party payment accounts (services such as Venmo^Â® and PayPal, which also provide P2P payments) may not be eligible for cash back rewards. Apple, the Apple logo and Apple Pay are trademarks of Apple Inc., registered in the U.S. and other countries.

² Outgoing wire transfers are subject to a service charge. You may be charged a fee by a non-Discover ATM if it is not part of the 60,000+ ATMs in our no-fee network.

The post 4 Questions to Ask Before Choosing a Checking Account appeared first on Discover Bank – Banking Topics Blog.

Source: discover.com

7 Cheap or Free Meditation Apps to Foster Mindfulness

January 29, 2021

Stella Mason

Apartment Communities No Comments

If the free version of Calm isnât enough, users can upgrade to a premium subscription for .99/year and get access to even more mindful content.
Simple Habitâs goal is in its name â make daily meditation a simple, easy habit. This free app offers five-minute meditations, progress trackers and downloadable meditations for situations like air travel or remote adventures.

1. MyLife Meditation: Mindfulness

To access even more mindfulness content, Simple Habit has a premium subscription for .99/month.
This free meditation app promotes community by offering numerous discussion groups and ways to connect with other Insight Timer users.
It has programs guided by top mindfulness experts from Google, former monks and leading mental health experts. Whether you need a quick decompression before heading into work or a longer, pre-sleep session, Simple Habit makes meditation easy.

2. Simple Habit Sleep, Meditation

Ten Percent Happier opens by asking users a series of questions about their life and lifestyle, then curating a plan specific to each person. You can select goals such as fostering daily calm, lowering anxiety levels and more. You are also invited to choose the way you learn best, whether thatâs through audio, reading, videos or hands-on experiences.
For those who are ready to kick things up a notch, the meditation app has a premium membership for .99/month or .99/year that unlocks 400+ activities, guided journaling prompts, yoga and soundscapes.
The Ten Percent Happier app was Appleâs best of 2018 award winner and was the top app in the Wirecutterâs list of âBest Meditation Appsâ .
This app lets you track the number of days youâve meditated, helping to make using Calm a rewarding habit.

3. Ten Percent Happier

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Headspace is changing the meditation app space by offering mindful workouts, too. Led by Olympians Kim Glass and Leon Taylor, Headspace workouts combine mental grounding with body-pumping training sessions to promote holistic wellness.
With 71,000 ratings totalling 4.8/5 stars on the Apple App Store, Simple Habit Sleep, Meditation is one of the top free mindfulness apps available today.
The app is free to download. But to access its features, you can join the Breethe membership community for .99/month or .99/year.

4. Headspace

Source: thepennyhoarder.com
Another heavy hitter in the free meditation app space is Insight Timer, which was named App of the Year by TIME Magazine and Womenâs Health.
With more than 10 million downloads, Breethe: Meditation & Sleep is one of the best meditation apps in the mindfulness market.
According to the app, users were 82% more likely to be less anxious with consistent use of MyLife Meditation: Mindfulness. Sign us up! This free meditation app also offers breathing exercises to catalyze calm and groundedness, tracking mental health with a daily feelings log, and guided meditations recommended just for you.

5. Insight Timer

Hereâs the catch: the Ten Percent Happier program isnât free , though you can start with a 14-day free trial before paying .99 for a one-year subscription.
One of Headspaceâs more unique offerings is its Weathering the Storm collection, a series of guided meditations, prompts, body scans and stories geared toward helping folks navigate the challenges presented by the past year.
Kristin Jenny is a contributor to The Penny Hoarder.
Selected as the Apple App Storeâs âApp of the Dayâ in 2020, MyLife Meditation: Mindfulness is a free meditation app that is personalized to how you feel and only asks for a few minutes of your day.

6. Calm

Whether youâre looking to sleep better, move through an addiction, improve leadership at work, or work on your meditation practice, Insight Timer has a guided meditation for you.
With its free version, users get access to loads of guided meditations, sleep stories, ambient sounds and breath timers that all seek to promote a more tranquil, fulfilling life.
Calm is one of the original mindfulness programs for smart devices. It boasts 40 million downloads worldwide and 1.1 million reviews on the Apple App Store.
This affordable (but not free) meditation app has a free 14-day trial before charging .99/month or .99/year (which brings the monthly total down to .99/month).
Calm offers a wide variety of meditations, from flight anxiety to SOS panic sessions designed to ground users in the present. Some of its meditations and bedtime stories are led by famous voices like Bindi Irwin, Matthew McConaughey and Stephen Fry, to name a few.

7. Breethe: Meditation & Sleep

Best of all, thanks to modern technology, meditation has never been so accessible. You need no equipment, and there are hundreds of free meditation apps and mindfulness apps to assist you in finding your zen.

Headspace is one of the best-known mental health apps. Its nearly five-star rating and 65 million downloadsshow Headspace is on it for meditation practice.
Wellness experts like mindfulness coach Lynne Goldberg walk you through practices to help you achieve a smiling mind and a calm body. Breethe seeks to help all users find peace with their emotions, physical sensations and current events through deliberate mental health practices.
Breethe has over 1,000 tracks of nature sounds, guided meditations, bedtime stories, five-minute and three-minute meditations and more.
This easy-to-use app is led by Emmy-award winning journalist Dan Harris, who works with some of the best meditation teachers in the world to bring you sessions focused on meditation practices like self-compassion, emotional balance and navigating crises.
Insight Timer is a must-have for those who want a wide variety of meditation practices, as the app offers thousands of guided meditations and is constantly adding more. It also has no-cost music and ambient soundtracks to promote better sleep and focus.
Stress is something we all deal with in varying forms. The past 12 months have tested everyoneâs ability to cope with unprecedented stressors, and well, itâs tiring having to adapt to a constantly changing landscape. Meditation is scientifically proven to lower stress levels and help soothe the hamster wheel of thoughts racing through our minds.

Whatâs an Impossible Goal?

4 Reasons to Reach for the âImpossibleâ

1. You May Be Pleasantly Surprised

2. You Check Off Micro-Goals Along the Way

3. It May Not Be as Hard as You Think

4. What Do You Have to Lose?

How To Set Impossible Budgeting Goals in 6 Steps

Step 1: Map Out Your Dream Lifestyle

Step 2: Outline Micro-goals to Reach Your Financial Goals

Step 3: Believe and Act Like Your Future Self

Step 4: If You Fail, Learn from Your Mistakes

Step 5: Track Your Results Consistently

Step 6: Be Patient With Your Budget Goals

How credit scores are used by lenders

Which credit score is your lender considering?

What influences varying credit score models?

Credit score versions matter

Bottom line

How to save money in college.

1. Think about the value each college will offer you.

2. You need to think about the full cost of college.

3. Remember that college isn’t the only thing that’s important.

4. Taking community college classes is one of the best ways to save money in college.

5. Take advantage of high school classes that give you college credit.

6. Take all of the credits your tuition allows for.

7. Apply for aid and scholarships to lower your college costs.

8. Only take out what you actually need in student loans.

9. Search for cheaper textbooks to lower your cost of college.

10. Don’t bring a car to college.

11. Use your student ID.

12. Learn how to correctly use a credit card or don’t have one at all.

13. Get a free checking account.

14. Find ways to make extra money.

15. Sign up for birthday freebies.

16. Switch to a more affordable cell phone plan.

17. Make a budget.

18. Visit the library.

19. Find a roommate.

20. Read personal finance books.

21. Other ways you can help your child get through college.

WHY YOU NEED A GROCERY BUDGET

HOW MUCH TO BUDGET FOR FOOD

Budgeting Hack 1: Use the National Average

Budgeting Hack 2: Use Your Actual Spending

Budgeting Hack 3: Use a Grocery Calculator

Budgeting Hack 4: Look at the U.S. Average

Donât Forget Special Dietary Needs

TRICKS TO MAKING A MONTHLY FOOD BUDGET

1. Consider Your Current Spending

2. Put It in Writing

3. Start Using Cash

4. Commit to Using Your Budget

GROCERY SHOPPING ON A BUDGET

Reduce Your Dining Out Budget

Use Coupons

Stick to Your List

Make a Meal Plan

Keep a Price Book

Add a Meatless Meal

Thereâs an App for That

Steer Clear of Mistakes at the Grocery Store

Avoid Haste and Waste

NOW GO SAVE MONEY ON YOUR GROCERIES!

1. Estimate how long you’ll need your maternity budget to last

2. Babyproof your budget

3. Tighten up the budgetâthen tighten some more

Cut existing costs

Find ways to earn

Reduce new costs

4. Set a savings goal and give every dollar a purpose

Budgeting for maternity leaveâand beyond

1. What types of checking accounts should I consider?

2. Are there fees associated with the checking account?

3. Is there a minimum balance requirement?

4. What ATM fees could I incur?

Find the best checking account for you

1. MyLife Meditation: Mindfulness

2. Simple Habit Sleep, Meditation

3. Ten Percent Happier

4. Headspace

Whatâs an Impossible Goal?

4 Reasons to Reach for the âImpossibleâ

Donât Forget Special Dietary Needs

Thereâs an App for That

3. Tighten up the budgetâthen tighten some more

Budgeting for maternity leaveâand beyond