In light of Hurricane Florence’s recent landfall in the Carolinas, it’s important to consider how natural disasters can impact your financial situation. Despite the emphasis placed on planning for an emergency in schools and throughout the media, many Americans remain unprepared and without a solid financial plan.
Many parents are reluctant to encourage their teenagers to find a job. They worry it will be a challenge for teens to juggle work and school. However, this dynamic might actually teach them balance and better equip them with a sense of responsibility.
There’s a lot your teen can gain from a part-time job – and that’s not just extra spending money. Continue reading
Gone are the days of balancing checkbooks and keeping a budgeting journal. With our smartphones consistently at our fingertips, all financial matters are handled in the virtual world. We deposit checks, monitor our spending, and seek financial advice all on our smartphones. What’s more, we have the assistance of widely-lauded applications to make all of this easier.
With summer in full swing, many people may already be feeling a pinch in their pocketbooks. Unlike the fall and winter seasons when people are more likely to want to cozy up at home and be hermits, the siren call of the warm sun and blue skies are irresistible to many wanting to make the most out of these glorious months. Continue reading
Millennials have a false reputation of not being savvy with their finances. There seems to be a stereotype regarding money management that has adhered to this generation with no known cause. While millennials are inarguably faced with the largest debt burden compared to previous generations, they are using that drawback to exercise smart spending and saving skills. The fact is that millennials are actually quite creative and knowledgeable when it comes to their finances. They just save and invest in different ways than most other generations are accustomed to. Here are some lessons to take from the millennial generation. Continue reading
While investing in a 401(k) retirement plan is a viable option for some people, there are several alternatives for building a nest egg that will provide you with more flexibility. Your employer may not offer a 401(k) plan, or even if they do, you may be seeking a backup plan. Here are four options for saving for retirement outside of a 401(k).
There is a distinct correlation between employees being satisfied with their job and the benefits that job offers. Employers that offer benefits (whether they be medical, dental, or vision insurance) can expect that their employees will be generally happier at work.
You may be like so many other people and be confused about what your credit score means and how it impacts you. Another common misconception is that you shouldn’t use credit unless you can’t afford something. This may be putting you at a disadvantage when you need to make a larger purchase, such as a car or a home. Continue reading
Living on your own for the first time can be quite the overwhelming experience. All of a sudden, you are in charge of your life. Your parents aren’t there to write the checks to pay the bills — you have to do it on your own. Making the transition from childhood to adulthood is not an overnight process. It is something that takes time, and you can expect to make your fair share of mistakes. The biggest responsibility you face is meeting your financial obligations. Here are some tips to help you get started into adulthood with solid financial footing:
- Open a checking account as soon as you get your first job. Even if you are not a legal adult yet, you can still open a checking account. You may need your parents’ help, but once you have a checking account, you can start managing your money.
- Keep track of every check you write. You can do this by using the ledger that comes with your checkbook, or you can order a check register from us. Writing down every purchase you make and every bill you pay will help you keep track of where your money is going.
- Don’t forget to keep track of all deposits. It can be easy to overlook a deposit if it is made automatically, so make sure you know when your paychecks will be deposited.
- Balance your register with your bank statement every month. Make sure there are no discrepancies.
Learning financial responsibility starts as soon as you have money to manage. Whether it is an allowance or a job, opening a checking account will help you learn to manage your money. If you choose not to open a checking account until you are a legal adult and moved out on your own, keep those tips in mind. It is never too late to learn how to be financially responsible.
One last thing to keep in mind — when you do move out on your own for the first time, make a budget and stick to it. There are various ways you can do this. One popular method is the envelope system, in which you have an envelope for all expenses, such as utilities, rent, food, entertainment, gas, etc. Once the envelope is empty, you cannot refill it. This will help teach you to budget your weekly allotments with care.
Contact us today at www.checkworks.com, and we can set you up with personalized checks for your checking account.