Get on Top of Planned Expenses With Sinking Funds
Published: March 28, 2022
In a given year, you likely have expenses that you know are coming - holiday gifts, the family vacation you take every summer, annual homeowners association fees or maybe membership renewals. But just because these costs are predictable doesn't mean you're always prepared. If you are pulling from your emergency fund or using a credit card to cover predictable costs, you might consider using one or more "sinking funds." A sinking fund is a savings account dedicated to a particular expense that you fund gradually through regular payments. Sinking funds often have a deadline associated with them, but not always.
How Are Mortgage Rates Determined?
Published: March 15, 2022
Your mortgage rate is determined by many factors. Some are within your control and some aren't. With awareness of these factors, you can feel more confident about getting a competitive interest rate when you choose a mortgage lender.
How to Safely Tap Home Equity in a Financial Emergency
Published: March 1, 2022
Your home equity shouldn't be the first line of defense when the roof falls in. But it can be a useful resource to seal a temporary financial gap, and most homeowners have a lot more wealth tied up in their property than they did a couple of years ago.
A Beginner's Guide to HSAs
Published: February 15, 2022
You might not even know what an HSA is, and that's OK! Here, we will cover the basics and tell you why opening a health savings account (HSA) is something to do sooner rather than later. Money saved in an HSA can help pay for out-of-pocket expenses in case of medical emergency and can be a significant part of your retirement savings. The possible tax advantages of an HSA can help you get the most bang for your buck not just for medical expenses today but also for saving for retirement.
Why State Residency Matters for Your Taxes
Published: February 1, 2022
Whatever the reason, having more than one "home" is possible. But understanding state residency rules and the potential tax implications can help ensure that your living situation doesn't result in unintended and expensive consequences.
How to Holiday Shop at the Last Minute
Published: December 15, 2021
Supply chain snags. Sold-out merchandise. Empty shelves. Hefty shipping fees. Inflation. There are plenty of complications working against you this holiday shopping season. And despite warnings to shop early because of pandemic-related delays, some of us didn't prioritize holiday shopping in October and November. But all hope isn't lost. Here's what to do if you still have gifts left to purchase this month.