Financial New for Everyone
By Sandra Hayes Most people think that they need to spend a lot of money on food each month in order to stay healthy. However, this is not necessarily the case. While it is important to eat healthy foods that provide the nutrients your body needs, you don’t need to break the bank to do so.
By Sandra Hayes The average cost for health insurance in the United States is over $21,000. Even individuals pay about $7,500 per year to have this coverage. If someone has traditional employment, a worker’s company typically provides about 75% of the cost of this benefit. The rest comes from a monthly premium that gets deducted from the employee’s …
By Sandra Hayes You’ve been told that it’s a great idea to save at least 20% of the purchase price of a home to avoid private mortgage insurance. That information is a solid fact. It’s also unusual for first-time homebuyers to have that amount of money in their savings accounts. If you buy a $250,000 home, a 20% …
By Sandra Hayes It’s a monthly ritual for us all. When the paycheck hits the bank account, we automatically look at how much of our income disappears because of our monthly bills. Even if you own a home and only have a single credit card, over 40% of your income could be going to someone else. That’s why …
By Sandra Hayes The bills sometimes roll in before the holidays arrive. Although it seems like a great idea to get those presents at the time, the debt that comes from your spending can weigh you down. People tend to spend more when they approach the holidays as a chance to take care of the people they love. …
By Sandra Hayes Warnings are out saying that the holiday shopping season for 2021 will involve product shortages, supply chain issues, and higher prices. That means now is the perfect time to consider a budget for your holiday spending. In the pandemic year, the average American family spent about $1,000 on presents. That rate could be 20% higher …
By Sandra Hayes How many credit cards should you have? Zero. You should never spend money on a credit card unless you have no other option available. Those purchases create a debt responsibility that can eventually cost hundreds or thousands more than the initial purchase. Even if you have an excellent credit card that delivers points, money back, …
By Sandra Hayes How much house do you think your family can afford? Houses are typically the most significant purchases that a family makes. Figuring out how much you can afford is one of the first steps toward a home buying budget. If you follow these steps, then you can get an approximation of how much house you …
By Sandra Hayes If the average couple wants to retire in the United States at the expected date they quit working and achieve the median lifespan, then $1.25 million is needed at a minimum. That’s in addition to any Social Security benefits that may be available. That figure assumes that a retirement income of $50,000 per year is …
