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Baby Boomers vs. Millennials: Who Has Better Financial Habits?
Could millennials be practicing better financial habits than baby boomers?
According to a new survey by T. Rowe Price, millennials are doing a better job than their elders. Millennials, who participated in the survey, were more likely to budget and live within their means than Baby Boomers and to live within their means.
More millennials were also tracking their expenses carefully (75%) than baby boomers (64%) and millennials were more ...Buying a House Just Got Easier
Wading through paperwork when buying a house has just gotten easier.
The documents that homeowners must sign are now shorter and stripped of industry jargon which should make the loan process more transparent.
The federally mandated changes should also make it possible for homebuyers to compare home loans from multiple lenders. The new requirements are expected to reduce the chance of expensive surprises during closing.
“Our new mortgage forms reduce...5 Common Investing Mistakes
One of the best ways to become a successful investor is to not make common investing errors.
Here are five mistakes that you should try to avoid:
1. Ignoring investing costs.
Many people remain oblivious to the cost of their investments and it’s probably because they never receive invoices. If you invest in mutual funds, the fees are automatically taken out of your accounts.
What many investors don't understand is that a fund that charges...Cash Transfers: Who is Giving Money to Whom
One nagging financial worry that some younger adults fear is that they may one day have to support their elderly parents.
The worst time for this financial support arguably happens when grown children are raising their own kids. The prospect of juggling college tuition bills while helping mom and dad get by is a daunting one.
The fear of this extra financial responsibility, however, appears to be overblown, according to a new study by the...Should You Retire Abroad?
There are many reasons why some Americans want to live abroad when they retire. Here is the most obvious: In some countries, you can live much more cheaply while enjoying a life style equal to or better than the one you had before retiring.
In some countries, healthcare and housing expenses can be 50% or less of what they cost in the U.S.
Here are nine things you should consider before retiring overseas:
1. Consider the cost of living....13 Ways to Reduce Wedding Costs
The average cost of a wedding today is $25,200.
That’s a huge amount of money for most families to spend for a celebration.
Luckily, ways exist to reduce the high cost of this special day. Here are 13 ideas to cut the price tag:
1. Devote money to the part of the ceremony that you care about the most.
Spend money on the part of your wedding that means the most to you and look for savings elsewhere. According to one survey, 81% of guests say that entertainment is...An End to a Rushed Financial Aid Season
College financial aid deadlines and tax return deadlines have traditionally been terribly misaligned.
Some state aid programs want students to file for financial aid as early as mid-February, even though many people haven’t received all their tax documents, much less filed their taxes by then.
The aid application deadlines are even worse at some colleges and universities. The aid deadlines for students who apply to colleges early are often in the fall of a student’s senior year in high school.
Faced with challenging aid deadlines, parents are forced to file for financial aid using estimated...
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The New Generation of Smart Credit Cards
You’ll be getting new credit cards soon.
And that’s great news because your new plastic will better protect you against theft and fraud.
Banks in the United States are currently in the process of replacing hundreds of millions of credit and debit cards with new smart cards that are safer.
You’re going to get chip-enabled cards that will replace your old ones that relied on magnetic strips, which is a 50-year-old technology.
New generation...Taming Your Summer Utility Bills
Here are six ways to remain cool for the rest of the summer and simultaneously reduce your utility bills:
1. Replace your air filters and seal ducts.
During the summer, experts suggest replacing your air filters once a month. A dirty air filter will restrict airflow, which means the A/C must run longer to cool a house. It’s been estimated that replacing a dirty air filter can cut your energy consumption by 15%. Sealing and insulating...7 Ways to Cut Back-to-School Costs
It’s back-to-school season, which means parents are digging into their wallets to get their children outfitted for the new school year.
Over the past decade, according to the National Retail Federation, parents have increased their school shopping by 42%. In the next few weeks, the average household is expected to spend $630 on everything from pencil sharpeners to fancy tennis shoes. All that shopping adds up to total spending of nearly $...