money saving tips

If you are wanting to save money for your kids, the next question is always “what type of account should I open for them?”

The answer depends on the goal for the money. If you want them to be able to use it for anything that they need/want (ie: house, car, etc) then you will likely want to open an UTMA for them. Here is an article that outlines all the details of an UTMA account.

Do you have a savings account for your child at the bank? If so, did you know that you could have that money invested and potentially earning much more than the interest rate that the bank offers? You can! Since savings interest rates at banks are typically pretty low, it is definitely beneficial to have the money invested instead.

As one of Dave Ramsey's Smartvestor Pros, you can imagine thtat we are passionate about helping people to achieve their money goals and be able to save more!

As we head into the New Year, it is typically a time that people start thinking about their money goals a little more. It's always a great time to find new ways to save more money. 

Maybe you are wanting to build your emergency fund or contribute more into your retirement accounts... either way, finding a few ways to cut back will add up fast!

I know, I know… it isn’t even Halloween yet and I’m talking about Christmas! Don’t worry, I’m not trying to rush the year along! However, I am trying to help you save money for Christmas in 2 months so that you don’t have to put gifts on a credit card.

I don’t know anything that will make the holidays more stressful than paying for all the gifts with your credit card. Sure, you don’t have to pay for it before Christmas but do you really want to start the New Year deeply in debt? That’s not fun.

Are you new to the term “sinking fund”? If you are, you are not the only one because whenever I mention it, I am usually met with a blank stare. Followed by… “What is that?”

Simply put, a sinking fund is a savings that is for a specific purpose. It is NOT your emergency fund. It is a separate fund that you are using to set money aside that will be used for a specific bill or event.

What Is The Difference Between A Sinking Fund And An Emergency Fund?

There is a difference between a sinking fund and an Emergency Fund.