Whether you want to pay off debt, start a rainy day fund or save for a family trip, budgeting is the first step toward reaching your financial goals. Creating a budget is much like trying to eat better or exercise more—everyone tells you it’s good for you, but it’s hard to get into the habit,…
Couponing Strategies for Families
With inflation soaring, families are looking for ways to reduce the costs of their everyday expenses. I asked Ryan McGonagill of Savings.com for advice on how to use coupons to save money in this environment. Here’s what he said. The Epoch Times: What strategies do you recommend that families employ to incorporate couponing into their…
Feed the Need for Financial Literacy
August 20, 2022
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The demand for financial literacy education among high school students has increased in recent years. With ease of access to bank accounts and credit cards and fear of abuse, mishandling, or scamming, financial literacy has become a need for teenagers turning into adults. Only eight states have state-wide requirements for passing a personal finance course….
Do You Really Need Six Months’ of Expenses in Your Emergency Fund?
The first half of 2022 has not been great. Inflation has hit a 40-year high, experts are predicting a recession, and buying a home doesn’t appear to be getting less expensive any time soon. Naturally, people are preparing for the worst, and many consider the country to be sitting on the precipice of a recession….
The Savings Game: Advice on Medicare Options, and Other Reader Questions
By Elliot Raphaelson Q: I am considering several options regarding Medicare Advantage plans and Medigap plans. How can I receive unbiased advice? A: One source you can consider is using the services of a State Health Insurance Assistance Program (SHIP) volunteer. Each state has a SHIP chapter and can provide a volunteer, at no cost,…
Bad Debt vs Good Debt: A Useful Guide
In previous articles, I have used the terms “good debt” and “bad debt,” and the latter term undoubtedly has seemed like somewhat of an oxymoron to some. Getting into debt is considered a cardinal sin to many who give advice within the personal finance world. But, while some high-interest debt, such as credit cards, can…
Debt Consolidation — Good Solution or Terrible Mistake?
To the person drowning in debt, a debt-consolidation loan looks like a lifesaver. But reaching for it without knowing exactly what it’s made of could be a severe mistake. The way it’s supposed to work: You pay off all your small high-interest consumer debts with the proceeds of a new low-interest loan whose payment is…
Avoiding a Bitter Pill: Medicare Penalties for Late Enrollment
United States citizens are eligible for Medicare when they reach 65. If you are receiving benefits from Social Security (or the Railroad Retirement Board) at least 4 months before your 65th birthday, you will be automatically enrolled in Medicare. If you are not receiving Social Security benefits at 65, you will need to watch the calendar…
Health Care Debt: How to Avoid It, How to Get Rid of It
Whatever you think of the American healthcare system, one thing is clear: Americans pay dearly for healthcare. Those who get insurance through their employers—only 54 percent of Americans employees in 2020—pay handsomely for that. The many Americans who do not get health insurance through their jobs often pay even more to be covered. As a…
In Your Debt: 3 Times Debt Can Be a Helpful Tool
In some corners of the personal finance advice world, getting into debt is just about the worst thing you can do. And yes, some forms of debt—particularly those that charge high interest rates—can keep you locked in a cycle of owing money for years. Still, there are times where taking on debt serves a purpose…
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