Ben Edwards's Blog: Money Smart Life, page 28

How Will You Spend that Windfall? 5 Smart Moves

One of the first instincts when you experience a windfall is to spend it – and spend it quickly.

This is because a windfall is considered “extra” money. It falls outside your regular financial plan, so you end up spending it in a way that doesn’t fall into your finances. This isn’t always the best approach, however.

Whenever you get windfall money, it’s a good idea to consider how it can help you improve your finances. Think about what you would do with a windfall ahead of time, and you can fol...

How to Perform a Financial Checkup on Yourself

I could hardly believe it when I looked at the calendar and realized that the year is halfway over. This time of year is a perfect time for performing a financial checkup on yourself.

A financial checkup can help you pinpoint problems with your finances, and recognize issues that need attention. As you perform a checkup on your financial situation, here are a few things to keep in mind . . . .

Where Do You Stand?

Your first step is to figure out where you stand. A good way to get a snapshot of w...

6 Apps to Save You Time, Stress, and Money While Traveling

Decades ago, our parents would spend hours flipping through those tourist guides or driving up and down the street looking for certain things on vacation like a place to eat or a bathroom. As technology has advanced, things have gotten so easy, that you have more information at the tip of your finger than you know what to do with it all.

There are some apps out there that just have to be a part of your life when you travel. Whether it is a road trip in the family cruiser, or country hopping in...

Are You Financially Ready for Moving?

I’ve been thinking a lot about moving lately. My sister’s family is preparing for a cross-country move, and I wonder if I’ll be moving sometime soon.

My husband is getting tired of being an adjunct professor, and he’s getting serious about applying for jobs at other universities. As a result of this new reality, I am aware that I could be moving in the next 12 to 24 months.

I’ve been thinking about what needs to be done if we’re to make the move successfully, and thinking about what we’ve done...

BankAmericard Cash Rewards vs. American Express Blue Cash Everyday

Some people prefer credit cards that offer travel rewards, but others still prefer to receive cash back from their spending. And while some credit cards compete with each other to offer the highest rates of cash back on all purchases, others feature bonus categories of spending that allow cardholders to earn more than the nominal 1% cash back. Although the highest rates of cash back are reserved for cards that have an annual fee, there are still plenty of great products that are free to use.

A...

Capital One Cash vs Barclaycard Rewards

Despite all the credit cards that offer award flights and hotel stays, many credit card users still prefer cash. These cardholders may not spend enough money to earn a free ticket very often, they may be tired of airline credit cards, or they may not be interested in traveling at all.

Fortunately, there are many excellent cash back credit cards, including several that have no annual fee. Capital One offers its Capital One Cash Credit Card while Barclays Bank features its Barclaycard Rewards. E...

PenFed Promise vs. Barclaycard Ring

There is no getting around the unfortunate fact that the majority of American credit card users have debt. All the studies I have found indicate that between one half and two thirds of all credit card users carry a balance each month, and pay interest on their charges. And as unsecured loans with interest that is never tax-deductible, credit card interest is more costly that interest paid on a home mortgage or a student loan.

So when these cardholders are looking for the best product for their...

Chase Slate Vs. Citi Simplicity

Choosing the right credit card can be a tricky game. Banks seem to enjoy highlighting their cards’ best features, and burying terms that penalize cardholders. But as consumers and regulators have caught on to this game, the banks have started to compete for new customers by offering simpler cards with fewer fees. The Chase Slate and Citi Simplicity are two of the most simple products on the market. But in addition, both cards feature leading promotional financing offers for new applicants.

Let...

How to Budget When Having a Baby

Becoming a parent for the first time is thrilling and terrifying on several fronts, not the least of which is budgeting. You know having a baby is going to cost you dearly in the wallet, but how much? Should you set aside $50 per month for diapers and other regular expenses? Should you anticipate dropping $10,000 on setting up the nursery for the new addition? The answer for most people will fall somewhere in the middle. Exactly how much you need to spend on having a baby depends on your need...

Are Target Date Funds Worthy of Your Portfolio?

If you have looked at your 401(k) investment options recently, chances are you have noticed a list of funds that all have similar names with the exception of a year at the end of each. These “Target Date” funds were built as an all encompassing investment to help you plan for your retirement all in one product. These funds were allocated in a way where you would receive full diversification of both equities and fixed income, with maybe a hint of other diversifiers thrown in the mix. As you ge...