Education

Saving money is hard; especially when the majority of Americans are living paycheck-to-paycheck. It’s a sobering statistic considering most American households are labeled as middle class. Some families have dealt with an unexpected situation that has caused them to fall behind financially. Others may simply not make enough to keep up with their increasing bills. Regardless of the reason, not making enough money to pay bills or deal with an emergency is a serious problem millions of Americans are dealing with today.

The truth is that most Americans don’t have the money management skills necessary to budget effectively. But don’t worry, these are skills you can learn and master with some time and effort. Learning these skills will help you better understand where your money goes, which is the first step in having financial control.

If your family has been living paycheck to paycheck, your best option is to create a budget and get back control of your finances. Most people cringe at the thought of having to stick to a budget, but having a budget is the difference between having to scrape by and finally having enough to save. You need to be aware of where your money is going so that you can take steps toward making better decisions. We’ve put together a guide on how to evaluate your expenses and create a budget; money management skills we know you can master!

Here’s how you can stop living paycheck-to-paycheck by building an accurate and effective budget:

Congratulations! You’re going to have a baby! Now what?! You’re probably wondering how you’ll possibly afford to have a baby. Raising a child can be pretty expensive, but don’t worry. You’ve got plenty of time to prepare for your little bundle of joy financially and emotionally. We’re going to give you some pointers on how you can financially prepare for your baby:

As a parent, one thing that is always looming in the background is your child’s college education. Yes, you want the best for your child – to send them to a good school; to make sure they get a great education. But, all you hear about in the news is sky rocketing college prices. Not to mention you’re trying to save for your own retirement and everyday expenses. So how do you make it all work?

While there is most likely an app for that, all these apps could be killing your budget. You will be amazed at the wide range of useful apps available for your home computer, mobile devices, tablets, and more. With so many apps available, it’s important to be selective about which apps you choose and how you use them.

Have you punched the sales price of a house into a mortgage calculator and decided that owning a home costs less than renting? The advantages of homeownership could include investing in an asset, a sense of stability, and predictable mortgage payments.

At the same time, you need to budget for your home by considering more than just the principal and interest payments on your loan. Once you prepare for both obvious and more hidden costs of owning a home, you can be sure that your dream house won’t change into a financial nightmare.