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6 Reasons Why Your Budget Doesn’t Work (And How To Fix It)

The post 6 Reasons Why Your Budget Doesn’t Work (And How To Fix It) appeared first on Penny Pinchin' Mom.

If you are not using a written budget (paper, spreadsheet or even an app), you are not alone.  According to a 2016 study, only 41% of Americans have a written budget.  That means more than 50% of American households are operating without a budget!!

 

how to make a budget work

Just because you have a budget does not mean you will be successful.  Following a budget is not easy. If it were, we would see more people using one than trying to ignore it altogether.

Even the most diligent people can have a tough time getting used to, and implementing, spending constraints within a budget. This can cause those budgets to bust and quite often fail.

Why does this happen? Why is it that so many budgets never work?  We’ve got six of the most common reasons budgets do not work.

WHY YOUR BUDGET IS NOT WORKING (AND HOW TO FIX IT)

1. Your budget is unrealistic

Who wouldn’t love to spend just $50 a month on fuel and $200 on groceries?  That would be incredible, wouldn’t it?  However, that is not the way it works.  You need to be completely honest about the numbers you include in your budget.

The fix:  One of the easiest ways to do this is by creating and reviewing a spending plan.This simple form will help you analyze and track your real life spending over the course of a month.  You might want to see that your budget shows $200 for groceries.  But, if you are spending $550, your budget will not work. Be honest and make sure your budget truly reflects the way you shop.

Read More: How to Create a Spending Plan

 

2. Forgetting items

When planning out a budget, did you remember that you have that birthday next week?  What about needing to purchase new tires for your vehicle?  You need to make sure that you are accounting for every expense which might come up over the course of the month.

The fix: Take time at the end of each month to look ahead and determine events and things coming up, such as the vacation or the birthday.  Make adjustments to the next month’s budget (but if you are really smart, you are already saving for these monthly, and the payments can come from your savings account rather than your budget).

 

3. You keep overspending

Another reason your budget doesn’t work is that you spend more than you make.   You have to make changes to your budget.

The issue is that many do not want to do this.  They just can’t.  If you are spending more than you make, your budget will never work.  You must change your spending habits to have a successful budget.

The fix: You may need to scale back on dining out or entertainment. It could be extreme enough that you need to cut expenses, such as cable, directly from your budget.

Read More:  How to Prevent Overspending

 

4. Not monitoring it

A budget is not a “one and done” financial goal.  A budget is always changing to due to income fluctuations, life events and more. Your budget will need to be frequently checked to make sure it aligns with your needs.

The fix:  Update your budget monthly, by scheduling a due date on your calendar.  There are times when adjustments will not be needed, but other times, you will need to tweak it.  You might find that you are budgeting $500 for groceries, but costs have gone up, and so now you spend $575.  That means you have to fix the budget to stay in line with what you need.

Read More:  How to Create and Use a Cash Budget

 

5. Forgetting emergencies

Life has a funny way of throwing curveballs your way when you least expect it.  What happens if the furnace goes out or your son breaks his arm?  These items are not on your budget, and there was no way to plan for them.

The fix:  You need must have an emergency fund.  Money needs to be set aside each month to cover these expenses which come up.  That means you need to add it as a line item on your budget and always save so you don’t blow your budget in these moments.

Read More:  How to Quickly Boost Your Emergency Fund

6. Not giving it enough time

Another reason your budget does not work is that you quit before it has a chance to work.

If all professional athletes quit practicing after just one month, we would have no professional sports.  The same is true with your budget.  If you give up when it gets hard or don’t try, then you are destined to fail.

The fix:  Keep in mind that the first 3 – 4 months are going to be rough.  These are the months when you are going to have to make a lot of changes to the budget so that it will work for you.  Once you get through this period, it will get easier, and you will be glad you did not quit or give up.

 

A budget is not fun. If it were everyone would have one, and it would work perfectly. No one would fail.  However, that is not reality.  It takes a lot of hard work and dedication, but when you stick to it, the rewards will be worth it.

budget doesn't work

The post 6 Reasons Why Your Budget Doesn’t Work (And How To Fix It) appeared first on Penny Pinchin' Mom.

Source: pennypinchinmom.com

4 Tips for Handling Finances After a Pay Cut

woman sitting on the floor doing work on her computer

Millions of Americans faced pay cuts as the coronavirus pandemic affected industries. While many workers were laid off, some were furloughed, and others kept their jobs but at lower salaries as businesses struggled to stay afloat.

Some workers are reexamining their budgets to cut some of their expenses until they get another job or their employer restores pay cuts. Taking a pay cut means facing the reality of no longer living the same financial life.

Americans often aren’t so good at saving for emergencies such as a car repair or sudden illness, or for their retirement. A recent survey found that 59% of U.S. residents say they live paycheck to paycheck.

Less than 40% of working adults think their retirement savings are on track, and 25% have no retirement savings or pension at all, according to the latest Federal Reserve Report on the Economic Well-Being of U.S. Households.

Another alarming fact is that 4 in 10 adults have said that if they had an emergency and had to pay a bill of $400, they would have to borrow the money or sell an item they own. And that is in so-called normal times. Here are four strategies to handle finances after a pay cut.

1. Update Your Budget

There are several ways to deal with the changes to your budget after a change to your salary. Create a budget if you do not already have one. List all your expenses for weekly purchases, from groceries to gasoline and parking fees. Add monthly bills, including rent or mortgage, car loan, cable, cellphone, utility bills, credit cards, student loans, and any other debt such as personal loans.

Update your budget and examine all your expenses to see which ones you can lower or eliminate, even temporarily, for the next six months. Add your income and include part-time jobs, tax refunds, bonuses, and any child support, alimony, or help from parents. This will help you determine how much money you can spend for necessities, expenses, entertainment, and other items such as doctor visits.

There are several free apps that can help you manage your debt easily and update it as your financial circumstances change. To track your spending, decide if you want to track it daily, weekly, or biweekly. You might try different time periods before you decide on one. Some people prefer to keep up with their spending on old-fashioned pen and paper.

SoFi Relay.

After you track your spending for two or three months, you will see a pattern emerge of where most of your money goes. You can also look at older bank and credit card statements to see what you were spending money on last year compared to this year. This will help determine if you had one-time expenses such as medical bills, airplane tickets, hotel stays, wedding gifts, or a vacation. You might be surprised at what you’re spending your money on. For instance, you might be spending a lot of money on entertainment or buying gifts.

In addition to a budget, create a financial plan for both short- and long-term goals. A plan will help you determine when you can pay off any loans and how much you want to save, say, for a down payment on a house.

2. Cut Expenses

One place many consumers can cut costs is from entertainment, such as their cable bill or streaming services. These can really add up. Canceling all or some of these services can improve your cash flow, which is how much money you have left over at the end of the month. Another place where you can slash expenses is from your food budget. Consider using digital coupons, shopping at warehouse clubs, or going out to eat for lunch instead of dinner.

Your expenses include debt such as credit cards, student loans, and personal loans. Paying more than the minimum balance, refinancing to a lower interest rate. and making extra payments can help you pay down the principal amount, or the original amount that you borrowed, sooner.

Consider refinancing your student loans by checking out both fixed and variable rates. Interest rates are at historic lows. You might be able to pay down your credit card bills faster by taking out a personal loan; those interest rates are often lower. And if that’s the case, the debt could be paid sooner.

Automating the payment of bills can make your life easier. This will also help you avoid paying late fees. You can either have your bills paid automatically through your checking account or set yourself a reminder on your calendar if you have some bills such as utilities that are a different amount each month.

You can also automate your savings. You can have money taken out of your checking or savings account each month and have it automatically invested into your workplace 401(k) plan or an individual retirement account.

Snip, Snip, Snip

When your salary has been slashed, there are several ways you can save money immediately and long term.

Call your mortgage, auto loan, utilities, credit card, and student loan companies to see if you can defer payments for several months. Skipping a few payments can help you get back on your feet sooner. If the company cannot provide this option, see if the interest rate can be lowered on, say, credit cards.

Check with your local nonprofit organizations. Many provide food or partial payments for utility bills. Your local food bank is a good place to start; this can help you lower your monthly grocery bill.

Look online to see if stores are offering deals. Stock up on staples such as beans, rice, and pasta if they are on sale.

If you are still short of money, you might consider talking to family members and friends about obtaining a short-term loan or working on a small project to earn some extra money.

cash management account that keeps track of weekly spending—which then allows creation of a budget based on habits.

There are no account fees for SoFi Money® and you can earn cash-back rewards on spending. And SoFi members can gain financial advice—at no cost.

Learn more about SoFi Money® today.



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7 Budget Friendly Tips for a Room Makeover

Sometimes the need to redecorate a room doesn’t line up with when the budget allows for a full makeover. In those times, it’s good to have a few budget friendly ideas to spruce up the space. These seven tips are things that can be done even when funds are tight.

1 – Rearrange or Swap with Other Rooms

The most budget friendly thing you can do when redecorating is to look for inspiration from the other rooms in your home. Often times, especially in larger homes, there are pieces of furniture and other décor that could be moved from one room to another to make a free update to the space. If you are thinking about updating your master bedroom, consider using pieces from your office, the living room, and even the outside patio. Taking a piece from another room can provide just the change you are craving in the space you want to update.

2 – Paint Furniture

If you found a piece of furniture in another room that can work based on the shape and size, but it doesn’t quite match, consider painting the furniture. This is also a great option for updating old wood furniture that you’ve had in the room for years, or even furniture that you just found at a thrift store or rummage sale. Changing the color of furniture with spray paint is a quick and easy way to give it an entirely new look in less than a day’s time.

When determining if a piece of furniture can be painted, look for pieces that have good structure and very few flaws to the shape. When you paint, gouges and scratches can become more pronounced, so if you find a few imperfections, fill them with wood filler and sand them smooth before painting. If you are painting metal furniture, make sure to sand off any rust spots to ensure the rust doesn’t spread after you complete the makeover.

3 – Paint the Walls

If you want to make a bigger impact in a space, consider investing in a can or two of paint. Many rooms can be completed with one can of paint, but for more drastic color changes (like from white walls to dark blue walls or vise versa), you may need two cans to allow for multiple coats to get the walls fully covered.

If you don’t want to paint the entire room, consider painting an accent wall to give it a pop of color. If you have more time than funds, you can invest a few hours, a quart of paint, and a roll of painters tape into making a design on a wall instead. You might add a single stripe, a chevron stripe, or some free-hand circles around the room. You can get creative with the accent designs to make the room as fun as you want it to be.


4 – Have a Plan

One of the biggest things you can do to keep a makeover project budget friendly is to have a plan and a little patience. Think about it like this: if your car dies and you need a new car, you are at the mercy of the people who are selling cars at that exact time. If you are able to plan ahead on the purchase of your new car, you have significantly more bargaining power because you don’t NEED to purchase it immediately. You can wait for a better price to come along.

The exact same thing is true when it comes to purchases for your home. If you are determined to buy things on a certain day, you are at the mercy of what’s available on that exact day in the shops you can get to. If you’re able to instead plan the project, decide what you are going to look for, and then purchase when you find the items at the right price, you are in a much better position to find bargain pieces.

5 – Keep Your Eyes Peeled

Once you have your budget makeover plan in place, keep your eyes open for the perfect pieces everywhere you possibly can. Tour your neighborhood on the weekends to see if any of the neighbors are selling the perfect pieces on rummage sales. Search Craigslist and online rummage sale sites to catch when the items you need pop up for sale. Walk through thrift stores on a weekly basis and keep your eyes peeled for the perfect used items. And don’t forget to watch the clearance racks at your favorite stores to see what goes on super sale. I personally love walking through Target on the days they mark down their home décor items. It feels like a treasure hunt to find just the right throw pillows or wall art to fit my plan. When the items are on clearance, it’s an even bigger success knowing that I didn’t spend even close to full price on the perfect pieces.

6 – Change Light Fixtures

If you are handy, or you have a friend who is familiar with electrical wiring, you may want to consider changing out the light fixtures in your home to quickly update the space. Having light fixtures that are decades old often means that they are in an outdated style or finish, which can make the entire space look out of date. By swapping them out with an eye catching light fixture that you found on sale or at a thrift store, you can make a big impact change in that one item. One of my favorite stores to check for items like light fixtures is the Habitat for Humanity ReStore. Many cities and towns that have a Habitat for Humanity program also have a Restore where they sell good quality home fixtures that have been removed from homes that were remodeled. It is a store where one man’s trash truly is another man’s treasure.

7 – Change Flooring

The final tip is definitely more hands-on, but can make a large impact in a room if you have just a little bit more money to spend and a weekend’s worth of time. Changing the flooring in a room can create a big change for not as much money as you are probably imagining.

Laminate flooring has come a long way in the last 5 years, and you can now buy a variety of great looking laminate flooring for less than $1/square foot. This lightweight, easy to install flooring can be printed with images of wood, stone, or other designs to give your room a totally new feel. Considering most bedrooms in homes are close to 12’ x 12’, that means you could change the flooring in a room for under $150.

If that is outside your budget, you still have options. Consider getting a large area rug to anchor the room. These are typically available at stores like Ross and Home Goods for $50 or less. Not only can they add a pop of color to your floor, but you can move them into new rooms if you ever feel like rearranging in the future.

Having a strict budget shouldn’t keep you from having a space that you love. For under $200 there are a number of quick changes you can make to your home. Mix and match a few ideas and you’ll be surprised at how quickly a little time and a few dollars can change the feel of your home.

Until next time, I’m the Domestic CEO, helping you love your home.

Source: quickanddirtytips.com

Under the Influence: 40% of Americans Have Purchased Something Seen on Social Media

Social media has wormed its way into most aspects of our lives. It’s how many adults make friends, find dates, and even build career networks. It’s a virtual portfolio of our personal and public selves, and of course many of us want to show our best online. Which presents the question — how do you influence others, and how do others influence you on social media?

More than a third of Americans admit that social media has influenced their spending habits and that they overspend to keep up with their friends’ fun. Meanwhile, 64 percent of Americans are wondering how their friends can afford the expensive trips and trends they’re sharing online.

Online shopping has seen significant gains since the start of quarantine in the U.S. Recent reports find that 40 percent of consumers have increased their online spending to some degree. Food is the most popular item bought online, and 31 percent of Americans say they’ve ordered takeout. Hygiene is the second most popular online purchase with 27 percent of Americans shopping disinfectants and other items online, followed by clothing at 26 percent. 

The feeling of needing to keep up with friends and perform on social media is at the core of many poor online spending decisions and can be detrimental to your financial health. A $30 concert ticket may not seem like much, but this builds a habit of overspending that can impact savings goals and unbalance your budget. 

We surveyed 1,500 people to learn more about social media spending and found:

  • 40 percent of Americans have made a purchase because of social media influence
  • A quarter of Americans have bought clothing or accessories, the most popular category, because of social media
  • Nearly 20 percent of Americans admit to judging others for sharing their purchases

40% of Americans Have Made a Purchase Influenced by Social Media

Bar graph displaying what products Americans are buying after seeing them on social media.

Our survey found that 40 percent of Americans admit to purchasing an item or experience after viewing something similar on social media. Clothing and accessories was the most popular category, with 24 percent of respondents sharing that they’ve shopped new looks on social media. 

This percentage drops significantly to just 12 percent buying beauty and health products — the second most popular category. Vacation experiences were the least influential category with just 5 percent of Americans planning a trip because of social media. 

Generation X (ages 35–44) is the most likely to purchase with social media influence. Forty-four percent of Gen X respondents say they’ve purchased something they saw online, with clothing and accessories keeping its popularity at 27 percent.

On the other hand, Baby Boomers (ages 65+) were the least likely to buy from social media at 31 percent, followed by Generation Z (ages 18–24) at 36 percent. Only 40 percent of Baby Boomers use social media, while 70+ percent of other age groups connect online. This is likely why fewer Baby Boomers shop with social media. 

Additionally, 46 percent of women have purchased something they saw on social media while only 34 percent of men had done the same. Both women and men prefer clothing, but men put more value in experienced-based purchases, like events and vacations, than women seem to. 

Clothing and Accessories Have the Most Influence

Clothing and accessories remained the top influencer across age and gender groups. Gen X women are the most interested in fashion with 38 percent buying clothing or accessories they saw shared on social media. Men were less interested in fashion than women, and Gen Z and Baby Boomers were the least interested with just 14 percent of men in each generation buying fashion trends from social media. 

The fashion industry has built a huge market around the ability to control messaging and increase accessibility through visual apps. A quick and easy example of this is the 847+ million posts under #fashion on Instagram. 

Even among fashion influencers, 42 percent shop directly through Instagram. The cycle of trending fashion grows as 86 percent of influencers purchase items they’ve seen other influencers wear, and are likely to then share the trend on their own account. 

Nearly 20% of Users Judge Others for Sharing Their Purchases Online

20% of users judge others for sharing their purchases, 64% wonder how their friends afford these purchases

While a large percentage of Americans admit to making purchases they see on social media, a fifth of respondents also admit to judging others for sharing their purchases online. Interestingly, younger generations were the most judgemental. Twenty-three percent of Gen Z users judged their peers’ purchases, while just 15 percent of those 55 and older judged others’ purchases. 

It seems men are the most likely to judge others for sharing what they buy. Twenty-seven percent of Gen Z men admit to judging others’ purchases, while just 19 percent of the youngest generation’s women do the same. 

Recent research suggests that there may be a direct tie between envy and conspicuous consumption on apps such as Instagram. Preliminary research suggests that many users believe others are posting their purchases to flaunt exclusivity, which builds envy and may support why so many users are quick to judge others. Those who reported high levels of envy were also more likely to consciously purchase items they had seen in an attempt to close the perceived wealth gap. 

Social media trends are here to stay, and marketers are taking advantage of the authenticity of influencer marketing. A third of Americans admit to spending more than they can afford to keep up with their friends, and social media envy plays a large part in this influence. The best way to stay financially secure is to commit to a budget. Apps like Mint can help you plan and stick to your larger savings goals and combat the habit to impulse buy.

View the Social Media Influences infographic

Sources: Charles Schwab | Intellifluence | HelpGuide | Harvard School of Public Health | Medium 

 

Methodology 

This study consisted of two survey questions conducted using Google Surveys. The sample consisted of no less than 1,500 completed responses per question. Post-stratification weighting has been applied to ensure an accurate and reliable representation of the total population. This survey ran during August 2020. 

The post Under the Influence: 40% of Americans Have Purchased Something Seen on Social Media appeared first on MintLife Blog.

Source: mint.intuit.com

Your Guide to Budgeting for Healthcare Costs

Adults often feel the pressure to act responsibly with everything related to their well-being and their wallets. And nothing says “adulting” quite like budgeting for medical expenses. It’s easy to think that health insurance will cover the majority of medical-related costs and thus can be overlooked in your budget—a copay here, a deductible there… all can be handled without much ado, right?

Not so fast. Medical expenses should be a top budgeting priority, with out-of-pocket costs on the rise and the always-present risk that an unexpected medical expense could put a ding in your spending plans. Consider this: On average, healthcare costs account for about 8 percent of annual household spending, or nearly 7 percent of pretax income, according to the Bureau of Labor Statistics. Even if your health insurance kicks in to cover an expense, your budget for healthcare costs still needs to include your premiums (AKA the amount you pay for your health plan).

How do I budget for healthcare costs, you ask? Fair question. This can sound like a lot. To better plan for healthcare costs, consider these five steps:

1. Determine your total healthcare budget

When budgeting for medical expenses, it may be helpful to bucket your healthcare costs into three categories:

  • Fixed Premium: This is the set amount you pay for your health insurance. If you get health insurance through work, this expense may be deducted automatically from your paycheck.
  • Routine: These are your anticipated healthcare costs, even if they fluctuate. Think your copay for your annual checkup or the cost of a regular prescription.
  • Unexpected: These costs can be difficult to predict, like an unplanned trip to the emergency room or an urgent medical procedure.

The easiest way to plan for healthcare costs is to review how much you spent on medical expenses last year.

When it comes to planning for healthcare costs, your medical and spending history is key. “The best place to start in determining how much to budget for healthcare costs is to look at how much you actually spent on healthcare previously,” suggests CPA and personal finance blogger Logan Allec.

You can start by reviewing all of your receipts from your insurance company and healthcare providers and going through your bank and credit card statements to flag any healthcare costs you paid out of pocket over the past year, Allec says. (If you didn’t save all of last year’s receipts, don’t stress. You can contact your insurance and healthcare providers for documentation.) The final number you come up with is a good start for determining your annual fixed and routine healthcare expenses. (Those unexpected curveballs mentioned earlier? See tip 3.)

When budgeting for healthcare costs, Allec also says to anticipate if you’ll have any extra costs this year that you didn’t encounter last year. For example, are you scheduling a surgical procedure or expecting a child? Make sure you understand how much you will have to pay out of pocket by reviewing exactly what your insurance covers annually, and factor that into your plan for healthcare costs.

Make sure your budget for healthcare costs includes any extra expenses you may not have encountered last year.

2. Put your health at the top of your priority list

Once you’ve estimated your annual healthcare costs, consider how you prioritize them against your other essential expenses, says Todd Christensen, blogger and financial educator from Money Fit.

As a guide, Christensen says that healthcare expenses should fall between necessities like your mortgage or rent, taxes, food, transportation and phone. “If you have a hard time paying for prescriptions but make monthly payments to your cell phone provider, then you have prioritized your personal communications over your health,” he adds.

From budgeting for your insurance premiums to preparing for doctor visits and ordering prescriptions, think of paying for healthcare expenses as a “need” instead of a “want,” Christensen says. By adjusting your mindset to give your health the significance it deserves, budgeting for medical expenses will become second nature.

3. Set up an emergency fund

Remember those unexpected healthcare costs that are tricky to plan for? When creating a budget for healthcare costs, Christensen suggests creating an emergency fund. An emergency fund is an account that is set aside to help cover an unexpected financial or medical emergency, such as a procedure or medication that is not fully covered by your insurance plan.

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Experts typically recommend saving at least three to six months of living expenses in your emergency fund so you can pay for unexpected expenses without having to take on debt or dip into savings earmarked for other financial goals. But, according to Christensen, if you’re starting an emergency fund from scratch, it’s best to start small and focus on a goal that’s attainable for you.

“Initially, the amount is less important than the commitment to just do it,” Christensen says. Managing the account, however, does require some discipline. For example, going on a 10-day wellness retreat, however therapeutic the massage sessions may seem, probably does not qualify as an emergency.

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On average, healthcare costs account for about 8 percent of annual household spending, or nearly 7 percent of pretax income.

– The Bureau of Labor Statistics

4. Take advantage of health savings accounts

In addition to your emergency fund, there are also special health savings accounts—funded by you or your employer—that can help you cover your health expenses and plan for healthcare costs. Here are three common health savings tools to consider:

  • A Health Savings Account (HSA) can be for you if you’re enrolled in a high-deductible health insurance plan (HDHP), which is a plan that offers lower premiums in exchange for a higher deductible. An HSA lets you put money away on a pre-tax basis for eligible healthcare expenses, including certain dental work, eyeglasses and prescriptions. Contributions can come from you, your employer, a relative—anyone who wants to fund the account. Also, the funds roll over from year to year with an HSA, which makes it a great long-term tool for budgeting for medical expenses. Note there is an annual limit for how much you can contribute.
  • Whereas an HSA can be funded by you and your employer, a Health Reimbursement Arrangement or a Health Reimbursement Account (HRA), is funded solely by your employer, and funds can be spent on predetermined medical expenses. What’s left over in the account can be rolled over to the next year. If you leave the company, however, you can’t take the funds with you.
  • With a Flexible Spending Account (FSA), you can have a certain amount of money taken from your paycheck, pre-taxed, and deposited into an account that’s used for qualified healthcare expenses. Both you and your employer may contribute to this plan, with a maximum contribution allowed by law. Unlike the accounts above, FSAs don’t generally roll over at the end of each year. Check with your employer for your plan’s specifics.

5. Evaluate health insurance choices carefully

To budget for healthcare costs effectively, consumer finance leader Trae Bodge suggests you take the time to evaluate your health insurance options to find the best plan for you and your family. For each plan, you’ll want to carefully consider the type of plan (are your preferred doctors, hospitals and pharmacies covered?), as well as the cost of premiums, deductibles, copays and prescriptions. Your health history may also be an important factor when considering different coverage options.

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“If family members go to the doctor frequently or have multiple prescriptions, it may be better for your budget to opt for a more expensive plan, given the coverage provided,” Bodge says.

If you’re an entrepreneur or self-employed, you can shop the Health Insurance Marketplace at healthcare.gov. But also look at comparable plans directly through insurance providers to better budget for healthcare costs, Bodge says. You might be able to save by choosing a smaller insurance company over a larger one or by signing up directly with the provider, Bodge adds.

Plan for healthcare costs today

When it comes to budgeting for medical expenses, a little planning today can go a long way toward providing for a more financially secure tomorrow. With a healthcare budget firmly in place, you’ll be better empowered to make decisions that are good for your health—and your wallet.

The post Your Guide to Budgeting for Healthcare Costs appeared first on Discover Bank – Banking Topics Blog.

Source: discover.com

The Penny Challenge Can Help You Save More Than $600 This Year

What difference can saving your pennies make? A lot, it turns out, if you’re doing the penny challenge. This money-saving challenge helps you put aside $667.95 in a year — or $671.61 in a leap year. To participate in the challenge, follow these steps: Now, please note: You’re not simply saving one penny a day. […]

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.

Source: thepennyhoarder.com

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