It’s easy to put off saving for retirement. Everyday expenses like rent and groceries take precedence over something that’s decades away. And other savings goals like a new car or a down payment on a house are more exciting (and feel more tangible) than retirement. But starting to save for retirement when you’re young will make saving enough money to enjoy a comfortable retirement much easier. Here’s why:
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Becoming an adult opens up a world of new opportunities, as well as new financial responsibilities. As a young adult, and throughout your life, having easy access to affordable credit may be key to achieving big goals (like buying a car or first home) and having quick access to money in emergencies. Young adults understand the importance that credit will play in their lives. But one question we often hear is: How do I build my credit in the first place?
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Earlier this month, patients at Children’s Hospital of Philadelphia (CHOP) welcomed the newest member of the hospital staff: not a new doctor or nurse, but rather a two foot tall robot!
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When it comes to your money, it’s exciting to plan for special goals, like buying a home or saving for your dream vacation. Less exciting? Deciding what happens to your stuff after your death.
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When things are going well, it’s easy to forget that emergencies and hard times can happen. And it’s even easier to put off preparing for them. That may be one reason that so few people have money saved for emergencies. Just 40% of Americans have enough set aside to cover a $1,000 emergency expense.
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Whether you buy the latest model or something with a lot of miles, your new vehicle is a big investment. And the purchase price is just the beginning. You’ll also need to be prepared for many future expenses, from filling up at the pump to monthly auto loan payments. Even if you paid in cash, your vehicle will still require regular upkeep, repairs, insurance payments, and other expenses. Owning a vehicle can cost thousands of dollars per year, so it’s important to take steps to protect yourself from unexpected expenses. Having the right insurance and other forms of coverage can help you avoid the stress and financial burdens that result from an accident, breakdown, or theft. If you have a new car or are shopping for one now, here are four valuable coverage options that can help you worry less and enjoy your vehicle more.
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It’s never an easy thing to think about, but it’s something you need to consider: If you were to die, who would provide for your loved ones? Unless you’ve built a large nest egg that your kids or other family members can inherit, having a life insurance policy may be key to keeping your loved ones financially protected if you pass away. You may put off this important financial step because it seems like a hassle. But the truth is, finding and getting the right policy is probably easier than you think, and there are options for every budget.
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Home is where the heart is, but it is not always near where the job is. The average American’s commute takes 26.9 minutes, with more than 14 million Americans spending an hour or more traveling to work. A longer commute often means more money spent on gas and on car repairs. Here are 7 ways to stop a long commute from cutting into your budget:
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It’s common knowledge that for many, student loan payments have become a growing concern. The rising cost of a college education, coupled with a tighter job market has led to national student load debt over $1.8 trillion. In Pennsylvania alone, borrowers owe an average of $36,120 each.
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Owning your own business is one of the most rewarding career paths you can follow. More and more young people are seeing the benefits of self-employment, and over 62% of Millennials have considered starting their own business, with 72% feeling that startups and entrepreneurs are a necessary economic force for creating jobs and driving innovation. Starting a business takes hard work, dedication and maybe even a few sleepless nights, but the satisfaction of running your own profitable company is incredibly powerful.
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