save money

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 you know, the government is issuing stimulus checks in order to help balance out the hardships that many people are feeling right now. Many Americans have already received their check or will be receiving it soon. 

If you are receiving one, it's a good idea to have a plan for the best way for you to use the money. That’s why we wanted to share...

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.