Saving in your 401(k) is just the first move; take these steps to potentially boost your account value.
Just because the average grad carries more than $30,000 in student loan debt doesn’t mean current and future students should resign themselves to the same fate. There are plenty of ways to reduce or limit your loan balance before graduation. Loan balances continue to rise. In 2005, the av...
According to the Federal Reserve, 47% of credit card users carry a balance, meaning they don’t pay off the entire statement balance, so they must continue making payments against the balance in the next month while being charged interest to boot. Those interest charges can cause your balance...
8 Signs You're Ready to Retire Knowing when to step out of the workforce can be tricky. Here are some signs that you are ready. Maryalene LaPonsieNov. 27, 2024 Social Security Benefits When You Die Here's what happens to your Social Security benefits after you die. ...
Credit card debt is expensive, and having too much of it can hurt your credit score. Credit cards have high interest rates, so any balance left at the end of the month can grow quickly. To reduce your credit card debt, try to pay off your balance as much as you can at the end of...
Reduce Expenses You need to look at every way possible toreduce your expenses. Can youlower your grocery billby purchasing store brand items? Maybe you can reduce your meat consumption and go meat free a couple days a week. Can you scale back on how much you spend eating out?
It costs money to run a 401(k) plan. The fees generally come out of your investment returns. Consider the following example posted by the Department of Labor. Say you start with a 401(k) balance of $25,000 that generates a 7% average annual return over the next 35 years. If you ...
Secure your access to funds: Having access to funds through a line of credit or a business loan can help you cover cash flow gaps and leverage opportunities. Create a cash reserve: Build and maintain a cash reserve in case you encounter unexpected expenses or downturns. Reduce expenses Improve...
Refinancing involves obtaining a new loan to pay off your existing debt, which is usually at a lower interest rate. Alternatively, you can consolidate your debts through acredit card balance transfer. 7. Use cashback apps Cashback apps can be a great way to stretch your budget further and ear...
6. (Carefully) consider a balance transfer vs. debt consolidation loan Transferringcredit card debtto a new account has advantages, as many transfer offers may have an introductory period with aninterest rate of 0%. A balance transfer can also reduce multiple payments to one, with a single pay...