Unforeseen events, such as the COVID-19 pandemic, can have an impact on an individual’s financial health. For instance, 58% of all Americans are now living paycheck to paycheck. Additionally, 57% of Americans can’t cover a $1,000 emergency with savings, leaving them dangerously close to a financial disaster.
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Having no regular income after retirement can be a scary thought. After working hard to achieve your dreams and ambitions, you should be able to enjoy your retirement away from the ‘hustle’ and from the thought of going bankrupt the moment you spend some money.
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In the era of shiny plastic cards that promise to buy you the world, it is easy to be lured into spending money. And before you know it, you are knee-deep in debt and struggling to stay afloat.
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At the start of every year, many people find themselves making promises for the year to come. These resolutions may relate to things like weight loss, professional development, or finances. Yet no matter what category they fall into, if you have ever set a New Year’s resolution for yourself, you know how difficult it can be to see them come to fruition.
Financial habits are especially hard to build, and bad financial habits are hard to break. The good news? If you have been looking for a way to stick to your savings plans, educate yourself on finances or just spend less, this is your year! With these 6 financial resolution tips, it’ll be New year, same you… but with way more financial confidence:
It’s been a busy past few weeks: the final rounds of stimulus check payments have been issued, the tax deadline has been pushed back, and many Americans have been hard at work assessing how all of this will impact their financial plans.
What does privacy have to do with financial wellness?
An often-overlooked piece of financial wellness is protection. No matter how much you save and invest, if your assets are not protected, you are at high risk of a financial emergency.
I have high-interest debts that are piling up. What can I do?
The unexpected relationship between financial wellness and health
I have debts and expenses – should saving still be a priority for me?
If you are struggling to bolster your savings, you’re not alone:
What goes into a credit score?
What is a 401(k)?
We’re sure you already know what a 401(k) is, but just for good measure, we’ll sum it up:
With this week marking the start of a new political era, many individuals have questions about what may be coming for their financial wellness.
2020 has brought a lot of economic change, and in turn, quite a few relief efforts from the federal government. One effort that was especially important for federal employees was the Memorandum on Deferring Payroll Tax Obligations, issued by President Trump back in August. The Executive Order allowed employees to defer the 6.2% OASDI tax that is typically taken each paycheck to fund Social Security. Instead, employees could take home the extra funds to help manage everyday expenses or combat COVID-related financial hardship.
A few days after the longest government shutdown in U.S. history ended, a Prudential Financial survey of federal employees exposed the “financial fragility” of a majority of U.S. workers. According to the survey, 49% of respondents fell behind on bills, 27% missed a mortgage or rent payment, and 23% cut back spending on health or medical expenses for themselves or family members as a result of the shutdown.