Medical expenses are not always easy to predict. We never know how much we are going to spend on health-related services in the future, and whether those bills will be covered by our current health insurance plan or not.For many people, it’s common practice to regularly add money to a generic emergency fund and use it for any type of...
As parents, planning for our kids’ higher education is one of those things we can’t do early enough. Life is unpredictable and financial difficulties are always around the corner, so the sooner we start putting aside money for our kid’s future, the better.529 and UTMA are two terms you may have already come across when looking for ways to ensure...
Many decisions we make in our daily life have to do with buying and consuming goods and services. From choosing which brand of cereal to pick at the supermarket to deciding whether or not to buy a new jacket for the winter to comparing different car insurance companies.However, many of us don’t have a consistent approach when making buying decisions....
Becoming parents is the greatest joy we can experience, but it is also something that revolutionizes most aspects of our life. Our priorities, schedule, daily habits, and personal finances will undergo major changes. Planning these changes in advance can really make a difference.Many of us have already experienced this at least once in our lives and can offer precious advice...
Seeing your children leave the nest after becoming full-blown adults is a bittersweet moment. On the one hand, we feel filled with nostalgia and the fear of our lives becoming emptier. On the other hand, we finally have more time for ourselves and can plan our daily life and long-term goals without taking into account parental responsibilities all the time.Whether...
Homeownership continues to be one of the primary life goals of many Americans. A survey by Bank of America found that 72% of millennials (those born in the 80s and 90s) see buying a home as a top priority.One of the reasons for this was seeing what happened to those who didn’t own property during the recession of 2006. Some...
Holidays are the best period of the year. Whether it’s a Christmas reunion with relatives, a 7-day trip to a foreign country, or a long summer break, it’s a time for relaxation and fun away from the usual daily routine made of work and other boring activities.However, to enjoy our holidays to the fullest, you need to put aside enough...
When first budgeting, it could take a few months before you can feel in control of your personal finances and develop a clear picture of where your money is going.If you’re like most people, you probably went years without organizing and supervising your finances in a logical and structured way. While you have a vague idea of where your money...
In western society, the need to project a successful image and high social status can be a very powerful drive. Back in the 40s, while investigating human motivation, American psychologist Abraham Harold Maslow developed a concept known as the hierarchy of needs.Maslow represented this hierarchy as a pyramid, with survival needs at the bottom and the most artificial ones on...