If you feel like the price of groceries has gotten out of control, you aren’t going crazy. Our State of Personal Finance study found that 84% of people have noticed higher prices at the grocery store. And they’re right. Since October 2021, the price of groceries has jumped 12.4%!While some of those price hikes were because of[…]
With food prices rising, your grocery bill may be giving you sticker shock. But you shouldn’t toss your healthy eating goals because your food budget’s getting squeezed. Now is a great time to pick up — or brush off — some smart-shopping and meal-planning skills. These skills can save money while buying and preparing healthy[…]
Inflation is a silent budget killer. It causes everything to go up, from your groceries to your gas, as the purchasing power of money decreases. During a good year, it cuts your buying power by 2% to 3% — these days inflation is hovering above 8%, a level we haven’t seen in 40 years. But what[…]
Senator Elizabeth Warren popularized the so-called “50/20/30 budget rule” (sometimes labeled “50-30-20”) in her book, All Your Worth: The Ultimate Lifetime Money Plan. The basic rule is to divide up after-tax income and allocate it to spend: 50% on needs, 30% on wants, and socking away 20% to savings. Here, we briefly profile this easy-to-follow budgeting plan. KEY TAKEAWAYS The[…]
I’m sure you’ve heard of Murphy’s law. It’s the old adage that states “anything that can go wrong will go wrong.” And then there’s Parkinson’s law that essentially says work expands to fill the time available for its completion. Now I’d like to introduce you to Paco’s law — it says “your spending will equal[…]
A little more than three months. That’s how much time is left before about 41 million federal student loan borrowers have to start making loan payments again. The federal government froze student loan payments at the beginning of the coronavirus pandemic, and it has extended that freeze several times since, most recently right before Christmas. The[…]
Plus, four ways to plan a vacation that don’t break the bank. Summer vacation planning often begins around this time of year, when you start thinking that it would be nice to get away. But hopefully you’re also thinking about budgeting for a vacation. Vacations tend to go better when ample money is set aside for[…]
It’s the dreaded B-word—budgeting. Unfortunately, the word budget has gotten a bad rap. When it all boils down, a budget is just a plan for your money. Budgeting means you’re spending with purpose before the month begins. Unfortunately, many people view a budget as a straitjacket that will keep them from doing what they want. But that couldn’t be further from[…]
These smart cooking and grocery shopping techniques will stretch your food budget. One of the biggest expenses for the American family is food. According the Bureau of Labor Statistics, the average American household spent $7,729 in 2017. Even finding ways to cut that by just 10% can save the typical American family $773 per year,[…]
Although making resolutions to improve your financial situation is a good thing to do at any time of year, many people find it easier at the beginning of a new year. Regardless of when you begin, the basics remain the same. Here are 10 key tips to getting ahead financially. Get Paid[…]