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Save Money by Taking Your Spring Cleaning to the Next Level!

Save Money by Taking Your Spring Cleaning to the Next Level!

Now that March has gone out like a lamb (a waterlogged lamb in many parts of the country), Springtime is here, and that means it’s time for that beloved annual tradition—Spring Cleaning. In surveys conducted by the American Cleaning Institute, responses indicate that as many as 91% of Americans and 96% of Millennials engage in spring cleaning, so it seems safe to say we’re all in this together. As you open the windows and begin your routine of washing, sweeping, dusting, and decluttering, the goal is to spruce up your home’s interior while eliminating things you no longer need. When done correctly, spring cleaning can actually make you happier and healthier. So, it makes sense to be as thorough as possible. This year, while you’re busy cleaning your fixtures and furniture, it might be a good idea to update some common household items to more energy-efficient options. A more efficient home is an investment that can save you money all year long, and we’re pretty sure lower utility bills will boost your mood as well! Simple Ways to Make Your Home More Energy Efficient This Spring Energy-Saving Power Switch By completely cutting off all power when an electronic device isn’t in use, these plug-in adapters reduce the costly effects of “vampire energy.” While the term sounds scarier than it should, vampire energy refers to the power that still flows to a device even when it is turned off. These handy switches can be purchased online or in your local hardware store for $10 or less. And with prices that low, your return on investment can be quite substantial. Low-Flow...
Should You Keep Separate Checking Accounts When You Get Married?

Should You Keep Separate Checking Accounts When You Get Married?

You found “The One.” You popped the question, and they said “Yes.” You both said, “I do.” Your honeymoon was incredible. Now, you’re back to reality and settling into your new life together. Suddenly, you’re faced with a wave of everyday decisions you hadn’t previously thought about. Who sleeps on which side of the bed? Which toothpaste should you buy? Whose parents will you visit at Thanksgiving? What about Christmas? Some decisions are trivial, but other dilemmas feel far more important. But then, when that first monthly bill shows up and you have to decide who pays it, you come face-to-face with one more crucial decision: Should you combine your finances and get a joint checking account? For years, financial advisors and relationship gurus have sparred over the potential dangers and benefits of joining two individual bank accounts into one. The most challenging part of this debate is that both sides appear to make valid points, which can leave you and your spouse wondering what to do. Before we go any further, it’s important to remember that just as each person in a marriage is a unique individual, every relationship is different. And while it’s wise to seek counsel and take advice, you’ll ultimately need to figure out what works best for you. In the points to follow, we’ll set out to share a few perspectives that can help you determine the best way for you to build a financial foundation that works for your family. The Case for Separate Checking Accounts In an interview with CNBC, David Back, co-founder of AE Wealth Management, advised, “You should have your...
Check Your Finances Before Changing Jobs

Check Your Finances Before Changing Jobs

Jobs are funny things. As soon as you get one, there’s a temptation to start thinking a different job could be better. Sometimes people find themselves stuck in a role that doesn’t fit their personality or skill set. Other times they love their job but believe a change would provide the opportunity to earn more money—and in turn, more peace of mind. Whatever the reason, if you’ve been part of the workforce for more than a few months, you’ve probably spent more than a few minutes wondering if a new job might be the secret to a better life. And if that’s the case, statistics indicate you’re not the only one. According to the US Department of Labor, the average American changes jobs 12 times during their career. So, if you haven’t tested the job market yet, the law of averages seems to indicate you will eventually. And while job transitions are relatively common these days, it’s still important to approach each change with careful consideration. Not only will the new role involve learning new skills, working with new people, and establishing a new routine, it will also require significant financial planning—at least in the transition period. So, how can you set yourself up for success while transitioning to a new endeavor? By making sure your finances are in order; that’s how. 5 Financial Tips to Remember When Considering a Job Change Check your savings. If you already have another job lined up, your savings may only need to tie you over until your new paychecks start rolling in. This might sound like a minor concern, but depending on...
5 Ways to Save for Summer in 5 Weeks

5 Ways to Save for Summer in 5 Weeks

Summer vacation. During your elementary, middle, and high school years, those two magical words meant three months of freedom! No school, no waking up early, no early bedtimes. It was your annual reward for grinding through the previous nine months of academic pursuits. Yet somehow, summer always managed to fly by faster than it was supposed to! Now that you’re an adult, your summertime respite has probably shortened considerably. Instead of three months, you might get a week away—maybe two, if you’re lucky. But just like when you were young, you always wish your time away could last just a little bit longer. It seems like no matter how old you get, summer vacation still holds a special kind of magic. There’s still time to save for summer vacation! But even with all the sun-kissed nostalgia that makes summer vacation a lifelong treat, there’s one thing that can ruin the fun faster than a thunderstorm at the swimming pool: vacation-related debt. Summertime memories are fun to recall, but it’s not nearly as fun to receive monthly reminders that you’re still paying the price for that fun—plus interest. If you’re like most people, summer usually sneaks up on you. You start the year with good intentions, but somewhere along the way you forget to set aside money to cover your vacation plans. With summer only a few weeks away, you might be wondering whether it’s possible to save enough money to cover this year’s vacation. We’re happy to report that it’s absolutely possible! It will take some discipline, but you can do it. Here are five tips to help you...
Make Spring Cleaning Pay Off This Year!

Make Spring Cleaning Pay Off This Year!

People sure do like their stuff. Whether it’s the latest tech gadgets or knick-knacks that have been passed down through generations, the things we own hold a special place in our hearts and homes. So, when our possessions pile up, as is their tendency, what’s the logical thing to do? That’s right—rent a self-storage unit. What? That’s not the answer you were expecting? According to a report by Sparefoot, one out of every 11 Americans pays for storage space to keep their overflowing belongings. That’s right, not only are people finding additional ways to store their things, they’re paying good money to do it—$38 billion a year, to be exact. Spending money to stow away various items you don’t need and will probably never use—seems silly doesn’t it? We agree. In fact, we think springtime is the perfect season to do the exact opposite. Clean house. Cash in. Over the past few years, de-cluttering has seen a spike in popularity, thanks in large part to proponents like Joshua Becker and Marie Kondo. While experts like Kondo preach the soul-cleansing benefits of getting rid of anything that doesn’t “spark joy,” we recommend doing it for an entirely different reason. Cash. Cold, hard cash. Don’t get us wrong, we big fan of the physical and emotional perks that come from cleaning house, but we also believe that making a little extra money would make you feel pretty good too. If you’re inspired but unsure where to start, we’ve compiled a helpful list of everyday items that carry solid resale value and the best ways to sell them. Electronics Maybe you just...
Let the Taxpayer Beware: Learn to Spot Six Common Tax Scams

Let the Taxpayer Beware: Learn to Spot Six Common Tax Scams

Now that your W2s and miscellaneous tax documents have arrived, tax season is officially in full swing. While it’s easy to get lost in optimistic daydreams about your tax refund and all you’re planning to do with it, it’s important to remember that scam artists are probably dreaming about what they could do with your refund as well. After reaching an all-time high of more than 700,000 cases in 2015, tax refund fraud has been declining thanks to significant enforcement efforts by federal, state, and private agencies. While these statistics are encouraging, they also highlight the ongoing need for caution and vigilance. So, before you file your 2018 taxes or pay someone to file for you, we want to remind you about six of the most common tax-related scams happening today. Phishing Emails This one is relatively easy to spot. Why’s that, you ask? Because the IRS doesn’t initiate communication with taxpayers via email. So, if you see an email from the IRS pop up in your inbox—even one that looks remarkably official, don’t bother opening it. For good measure, go ahead and mark it as spam before deleting it. Emails of this type have only one goal: to trick you into clicking a fraudulent hyperlink or responding with sensitive personal information. Phishing 2.0 In 2018, the IRS reported a new twist on traditional phishing scams. In the new approach, fraudsters hacked the systems of legitimate tax professionals, stole tax returns containing personal details, and then deposited funds directly into taxpayer bank accounts. After those deposits hit the bank, the criminals posed as the IRS or collection agencies and...