No path to financial independence has you simply sitting on your couch, drinking coffee, and watching daytime television while money pours into your accounts unless you bought Bitcoin a few years back, and then, well you pretty much only had to hold it! Regardless, the point is, you’ll need to develop a strategy that meets your needs, but first, let’s look at what ‘passive income’ refers to.Read More
Should you give your kids an allowance? Some parents argue that kids shouldn’t have an allowance when they can find everything they need at home. There is some truth to that, but giving them pocket money can teach them the valuable skill of properly handling money.Read More
What should you do financially to get through the coronavirus COVID-19 pandemic? Regardless of the current or coming health effects of COVID-19 on you or your family, the pandemic has affected and will continue to affect household finances for months and possibly a year or more. Having a plan, prioritizing spending, and using resources efficiently will be key to your financial stability.Read More
Financial freedom usually means having enough savings, financial investments, and cash on hand to afford the kind of life we desire for ourselves and our families. It means growing savings that enable us to retire or pursue the career we want without being driven by earning a set salary each year. Financial freedom means our money is working for us rather than the other way around.Read More
Are you crazy in love, but your relationship is moving faster than your current budget allows? Are you and your partner already talking about getting married or buying a house together without thinking about how you will afford it? Are you considering moving in together to save money?Read More
While many couples have planned for their big day, prepared for their honeymoon, and even put together projects for their future home life, too many have neglected to discuss and agree upon how they will set up and manage their household finances.
Money has become the number one topic of argument among couples in this country.Read More
For the last century, a new system of feudal enterprise has taken over the American labor market. While many Americans may not find themselves under the patronage of a feudal lord, they do, however, experience a subservience not unlike that of the peasants that worked the fields during feudalism. Those who have consciousness of this modern-day subservience refer to this economic practice as “wage slavery”, but I think the term “economic bondage” fits better. Let me explain.Read More
Women have made tremendous progress in various economic aspects over the years. However, it has been found that women still lag behind men when it comes to financial literacy.
Financial literacy refers to the knowledge of the skills and tools that we need to make informed decisions when it comes to using our money.
Money Fit by DRS whole-heartedly supports financial literacy month while also encouraging our partners, citizens and clients to promote financial wellness year round.Read More
When visiting a grocery store, you must know ahead of time what you are looking for. Plan your trip after going through your pantry, fridge, and kitchen shelves. Delay your trip if you have enough to last the week. Avoid overstocking your pantry or fridge because it may lead to old products expiring before being used. That is the biggest waste of money on groceries.Read More
Choose cards that have low to zero annual percentage rates (APR) or ones that waive annual fees. Fortunately, around 70% of credit cards today do not have annual fees anymore. If you must pay an annual fee, make sure that the rewards you can accumulate surpass its value. Rewards are useless when you ultimately pay for them with a steep APR and/or exorbitant fees.Read More
We often reduce financial education down to the age-old rules of budgeting, and we might teach our children to save up money to buy what they want. Sometimes we suggest that they start ventures like a lemonade stand or lawn-mowing business to make more money.Read More
As a freelance actor, writer, and content creator, this did not apply to my life. At all. I tried to get my financial life in check by “percentaging out” my paychecks, but sometimes I didn’t have anything coming in. After many frustrating years, I realized I had to take matters into my own hands. Through trial and error, I finally came up with a system that works for me when it comes to budgeting through the ebbs and flows of income, and I want to share it with you.Read More
These days, a lot of people view credit cards as a necessity — credit cards are convenient, often offer great rewards systems, and build your credit score. Plus, credit cards use the bank’s money, which makes transactions more secure. But when used incorrectly, credit cards can adversely affect your credit score and even affect your financial security.Read More
What are the best ways to consolidate credit card debts and collections during and after the coronavirus pandemic?
The best debt consolidation options during and after the coronavirus pandemic include do-it-yourself repayment plans, debt management programs through nonprofit credit counseling agencies, and, in cases of well-established consumer discipline, debt consolidation loans.Read More
We all know the formula for increasing your net worth: Make more money and spend less of it. As simple as this seems, many people struggle to save successfully. Fortunately, you can make extra money without finding a higher paying job or working extra hours. In fact, you can also save money in more ways than just maintaining a strict budget and limiting what you spend on luxuries Sound too good to be true? Keep reading to learn “secret” ways to make money and strategic ways to save it.Read More
Along with the emotional strain of witnessing an end to one of the pivotal relationships in your life, divorce comes with one more troublesome aspect: Dividing the assets and planning your financial future after the final break-off.Read More
The coronavirus pandemic of 2020 has led, for the first time in human history, to the shuttering of the world’s economy and to international trade. Countries have shut borders even to neighboring trading partners while simultaneously closing millions of businesses to contain the spread of the COVID-19 infection.
Financial Literacy is having both the knowledge and the competence to manage your personal and household finances in order to set and reach meaningful goals.Read More
When national emergencies strike, whether in the form of unforeseen natural disasters or approaching pandemics, preparation is critical for weathering the storm, so to speak, and emerging on the other side in the best possible financial position. What should be on a Personal Finance Checklist for National Emergencies? A personal finance checklist ahead of and during national emergencies should include steps to take that protects your household finances, minimizes the emergency’s negative effects on your money, and provides guidance for you and your loved ones in both best-case and worst-case scenarios.Read More
With technology changing the face of online shopping, we are becoming avid shoppers through our smart devices. Statistics say that around 70% of smartphone users make use of online payment options while purchasing anything on the Internet for ease of payment. Be it ordering food or booking an itinerary, booking a cab or recharging a pre-paid card, everything seems possible with the click of our fingers.Read More