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Quiz: How Healthy Are Your Finances?

Quiz: How Healthy Are Your Finances?

When it comes to personal finances, it can be hard to describe how you’re doing and what you need. It’s easy to say “I’m not making enough money” or “I’m doing fine financially,” but that doesn’t shed light on what’s really going on. Can the cause of your financial woes truly be boiled down to the size of your paycheck, or are other factors, like debt and spending, weighing you down? Does “doing fine” mean that you’re “just getting by”…

How to Run a Swot Analysis on Your Finances

How to Run a Swot Analysis on Your Finances

If you have short and long-term financial objectives, try running a SWOT analysis on your finances to pinpoint your priorities and highlight where you could make improvements. A SWOT analysis is a strategic matrix developed to help businesses identify things standing between them and their goals. It’s also a great way to distill down your priorities when making important decisions. Although originally intended for organizations, the exercise can be useful for all types of goal setting and analysis.

I Need Money Now – Should I Pull From My 401(k)?

I Need Money Now – Should I Pull From My 401(k)?

Let’s say you’re in dire need of cash. You might be struggling to work your way out of debt. Maybe you had an unexpected emergency with a big price tag. There’s a stash of cash available in your 401(k), but you’re technically supposed to save that money for retirement. Should you tap into your retirement savings if you really, really need it?

11 Common Money Myths Debunked

11 Common Money Myths Debunked

Sometimes it’s difficult to spot the difference between good and bad advice. Amidst questionable suggestions from family and friends, contradicting web searches and the hundreds of “get rich fast” books at your local library, it can be especially hard to know what financial advice is worth your time. In this blog, we’ll explore 11 common personal finance myths, clear up the misinformation and uncover the truth.

50/30/20 Budgeting: What It Is and How It Works

50/30/20 Budgeting: What It Is and How It Works

If you’ve tried to create a budget in the past, you may have struggled with prioritizing your expenses. Needs like food, shelter and utilities are likely at the top of your list, but is a new pair of jeans more important than putting money towards your emergency fund? Should medical bills or car payments come before credit card debt? Is it okay to squeeze in a latte if you’re still paying down your college debt?

Should You Open a Store Credit Card Just to Get a Discount?

Should You Open a Store Credit Card Just to Get a Discount?

If you’ve ever been shopping at a major retailer, you’ve probably had a cashier offer to sign you up for a store credit card with the promise of saving you money on your purchase. These offers are hard to miss because most stores are trying to meet a quota of new credit card sign-ups, and cashiers are required to offer them to you. Some of the sign-up discounts can be pretty appealing, as can the regular rewards, but should you…

Unemployment Benefits Are Taxable: What You Need to Know

Unemployment Benefits Are Taxable: What You Need to Know

Between February and March of 2020, the number of Americans who filed for unemployment benefits rose from 6.5 percent to an unprecedented 14.7 percent. This is an all-time high for the nation, and although unemployment rates have started to come down, everyone who received benefits will have to take them into account when they file their taxes. That means that more than 60 million Americans will report unemployment insurance benefits as income on their 2020 tax return.