article thumbnail

Our Family Finances Update: January 2021

Family Balance Sheet

January 2021 was a month of extremes in my family’s finances. This money gets sent automatically to the 529 accounts we set up for our girls in 2020. I started searching and test drove a pre-owned Highlander in January 2020. Instead, we opted to replace the tires and take a year or so to save for a car.

Finance 130
article thumbnail

How We’re Using Upromise to Save for College

Family Balance Sheet

Hello, 2020. Right before the pandemic started, I opened 529 College Savings Accounts for our daughters. My oldest was in eighth grade and one of my goals for 2020 was to start saving consistently for both daughters’ college education. But my point of this post is not to discuss the pandemic. I’ll take it!

College 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

For many households, their finances and budgets are in limbo. My family’s finances have also been affected. I am totally paraphrasing the year, but had it not been for the money in our emergency savings, we would most likely have used credit cards to survive. January & February 2020 – Life is good!

Debt 130
article thumbnail

Fed’s Preferred Inflation Measure Slows in November

Savings Corner

in its first decline since April 2020. The labor market is still relatively strong and consumers are optimistic about their finances on a strong stock market and lower gas prices. ” Source link The post Fed’s Preferred Inflation Measure Slows in November appeared first on Savings Corner. . The index was up 2.6%

article thumbnail

Net Worth Defined: What Is My Net Worth?

Savings Corner

If you’re not sure what assets and liabilities are, here are some guidelines: Assets : Assets include cash — such as in your checking, savings and retirement accounts — and certain investments, such as stocks and bonds, that you could sell for cash. That includes 401(k)s, IRAs and taxable savings accounts. Want us to do it for you?

article thumbnail

What Is Financial Planning? | Bankrate

Savings Corner

These areas range from the basics such as budgeting to more complex areas such as saving and investing for retirement as well as estate planning for the distribution of your assets. In short, if it involves finances, then there’s a way to plan for it and optimize the outcome. Investments – How can you save and invest to grow wealthy?

Goals 52
article thumbnail

Create your debt freedom plan

Family Balance Sheet

Becoming debt-free became very appealing and the idea of being able to give more, save more, and live more was the direction we wanted to go. Our personal finances are so interwoven with our small business finances that we view them as one. At times the plan felt intimidating, but it also changed the direction of our finances.

Debt 130