If we are financially well (imagine a nice savings buffer in our bank accounts), we can negotiate harder to be paid fairly at work.
We can leave relationships and jobs where we’re being mistreated. We can take more risks in our careers without worrying about the financial implications. We’d see more women on boards and management teams.
The average cost of raising a child in America is $233,610 (excluding the cost of college). Raising a child 0-2 carries an average annual cost of $12,680, while raising a teenager costs parents about $13,900 each year. Given that in 2017 the median household income in the U.S. climbed to $61,372 (before taxes), it’s no surprise that raising a child is a huge financial strain - and the average household has 1.9 children.
For those of us who have the privilege and opportunity to choose where we spend our money, it’s very much a personal choice that feels best when we align our spending with our values. This means that we prioritize spending on what’s most important to us.
As a recovering investment banker and current entrepreneur, I am very familiar with burnout. But it wasn’t until recently that I learned that feeling “burned out” was more than just an adjective.
Colleagues and I shared that we were feeling “burned out” on some (or many) days but we didn’t realize it was a legitimate condition that has some serious health implications.
To learn more, I asked Belma McCaffrey, career coach and founder of Work Bigger, to share the signs of burnout and what we can do to combat it.
One of the most common questions I get about student loans is whether or not it makes sense to refinance. Why? We’re looking for any way to lessen the burden and make it easier to pay off our student loans. Here’s everything you need to know about refinancing your student loans and how to determine if refinancing makes sense for you.
Many people love using a debit card rather than a credit card because it’s clear and simple. At any given time, you can look and know exactly how much money you have available. You don’t have to wait until the end of the payment period, and you can’t spend money you don’t have.
Recently, I’ve been getting more and more questions about whether or not it’s safe to use debit cards with so much fraud, skimming, hacks, and scams going on. What are the risks we take on by using our debit cards and how would we handle the fall out?
Weddings are expensive. In 2018, the average cost of being a bridesmaid was $1,500. When you add up the cost of the travel, gifts, bachelorette party, and dress—and multiply it across multiple friends -that is a huge chunk of change.
These are big expenses that can hit all in one paycheck and make cash flow tight. If you’re feeling the financial hangover from a banging wedding season, we’ve got you covered with seven steps to recover and plan to make the next wedding season go a whole lot more smoothly.
If paying for your child’s college education is one of your financial goals (and even if it’s not), you’ve probably heard you should start saving in a 529 plan. Here’s the lowdown on 529 plans - what they are, their benefits, their potential downsides, and how much you (generally) want to be putting aside for your child’s (or future child’s) education.
A rainy day fund provides us with a lot more than cash in case of an emergency. It gives us freedom to make choices, take risks, and have peace of mind, and it leaves space for creativity.
For most of us, a rainy day fund is the first savings goal on our list. It protects us in case something unexpected comes up so we don’t have to put it on a credit card (and pay high interest rates) or borrow from elsewhere.
Despite the practicality of a rainy day fund, so few of us have them. How do I know? The average American has less than $400 saved, at any age. That means the average Amercian has very little to no rainy day fund.
Here’s what you need to know to get started.
