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Keeping your money in the wrong place has some easy tells: Your money won't grow on its own, and you don't have cash on hand for an emergency. If money comes into your checking account and stays there, you're probably not making the most of your money. If your emergency fund isn't full and in a separate account, your money isn't in the right place. You don't have goals you're working towardsIf you don't have money goals you're working towards, there's a good chance you're keeping your money in the wrong place. Your money isn't growing on its ownThe reason people invest, for retirement or otherwise, is to keep their money growing over the long term.

Persons: —, Marci Bair, It's, Monica Sipes, Marcy Keckler, it's, you'll Organizations: Service, Wealth Advisors, Ameriprise

Personal finance blogger Carmen Perez had $48,000 worth of student loans when she graduated in 2009. Three steps helped her tackle that debt: writing out everything she owed, choosing a method to tackle debt, and making sure to pay each month. In her journey to pay off her student loans, she found three steps that helped her to go from feeling overwhelmed to debt-free. Write out what you owe"I think the biggest advice is just to get organized around your student loans. By starting with these three steps, student loans can feel less overwhelming, more manageable, and be paid off sooner.

While coronavirus has hurt household budgets and incomes, your credit score can stay stable if you follow a few steps. Get your free credit score with CreditKarma »Get the latest tips you need to manage your money — delivered to you biweekly. Keep checking your credit score and reportIf your credit score is your GPA, your credit report is your transcript — the activity on which your score is based. Your credit report shows a record of all of your borrowing and repayment history, along with your credit score. Know what can and can't affect your credit score right nowYour credit score is based on your payment history, the amounts you owe in relation to your credit limits, the length of your credit history, the types of accounts you have open, and how much new credit you've opened recently.

Online life insurance agencies saw surges of new term life insurance policy applications in early March 2020, and applications don't show signs of slowing down. Similarly, fellow online life insurance agency Fabric Life Insurance has reported 50% more applications than usual since February. Term life insurance, or insurance that covers a person for a predetermined period of time which can range from two to 30 years, is the most common and affordable. Term life policies can cost as little as $20 a month — much more affordable than the alternative whole life policies, which last a lifetime and are usually only recommended in specific cases. After that, your life insurance won't change, no matter where you work, what happens in your life, or what happens in the world.

Persons: —, Mark Sayre, We've, they've, Nicholas Mancuso, We're, haven't, Allison Kade, " Mancuso, It's, coronavirus, it's, you'll, Kade Organizations: Service, Haven Life, Life, Haven

The typical American's savings balance looks very different by age, according to data gathered by the Federal Reserve. The Federal ReThe data shows Americans are low on cash savings, which could be a problem in emergency situations. The data shows that many Americans are low on liquid, cash savings, which could be a big problem in emergency situations. Having liquid cash on hand is essential, but it seems that many Americans aren't keeping much in their savings accounts. Let's face it: Keeping funds in cash isn't the best way to grow money, even in high-yield savings accounts or money market accounts.

If you're saving for several goals at the same time, you might want to find a savings account, like the Ally Bank Savings Account, which allows you to earmark funds for different purposes. Here are a few of the factors that you'll want to look for:AdvertisementA high interest rate: The typical savings account earns .07% interest, but you can earn much more by looking for a high-yield savings account. The only difference between these two types of accounts is the fact that high-yield savings accounts earn more, so it's worth opting for one of these over a traditional savings account. The typical savings account earns .07% interest, but you can earn much more by looking for a high-yield savings account. The only difference between these two types of accounts is the fact that high-yield savings accounts earn more, so it's worth opting for one of these over a traditional savings account.

Persons: —, you've, You'll, you'll, Bradley Organizations: Service, Ally Bank, Federal Deposit Insurance Corporation, National Credit Union Administration

To get a car loan with bad credit, start by saving a down payment, checking your credit score, and setting a budget. Buying a car with poor credit will cost more in interest, so it may be worth waiting and working to raise your credit score if possible. But, with poor credit, getting a car loan will cost you more, as banks will charge higher interest rates to lend to you. Save up a large down paymentTo get a car loan with bad credit, start by saving a down payment. Check your credit — and improve it if you have timeYour credit score is like a lender's version of a GPA.

You'll need three things to save money as a teenager: a savings account, a job or an income stream, and a goal. Whether you're looking to save for your first car, college, or a gap-year trip around the world, the most important part of saving as a teen is getting started. And an even bigger benefit of learning how to save money as a teenager is that you can start building a savings habit that will last forever. Start thinking ahead about how you'll use the money you're saving, and how to maximize that money. If you're saving for a car, start learning about the costs associated with owning a vehicle, how to buy one, and which car is right for you.

Comparison shopping for life insurance sounds like a chore, but online life insurance startups and comparison sites make it easier than you'd think. Sitting at my computer, I got quotes from life insurance agencies including Haven Life, Bestow, and insurance comparison site Policygenius, where I found the cheapest premiums. I spent about half an hour comparing life insurance quotes online and found out just how important shopping around can be. I started by looking at some buzzy life insurance startupsIn less than three minutes, I had a life insurance quote from Bestow that was very reasonable. Fabric is an online tool for making a will and getting life insurance.

Persons: —, didn't, that's, Policygenius, I'd Organizations: Haven, Service, Life, Liberty Mutual, Liberty Locations: California, Haven, Banner

AdvertisementHere are four ways to spend your bonus that you won't regret later:1. Generally, an emergency fund consists of three to six months worth of expenses in a dedicated savings account. "Bonus income can be a great way to set up a savings account earmarked for travel," she says. You can keep a savings account for surprise travel expenses, like a last-minute trip to visit family, or for unexpected vacation expenses. Open a new savings account to keep it separate from your other savings.

Persons: It's, —, Sophia Bera, Bera, Roth, you've, it's Organizations: Service, CIT Locations: Gen

Insider's experts choose the best products and services to help make smart decisions with your money (here’s how). Personal finance site WalletHub released updated data on the best and worst US cities for retirees, and looked at affordability as a main factor. Retirees are most likely to find low taxes and care costs in the south and southeast. Many cities in Florida, Texas, and Alabama made the list, including Jacksonville, Tampa, Mobile, and San Antonio. Here are the 17 most affordable cities for retirees, along with data on each state's tax rates via WalletHub and median senior day care costs from AARP.

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Using a credit card responsibly can improve your credit score by positively impacting your credit utilization and payment history. 3 benefits of responsible credit card useCredit cards offer many types of rewards, and responsibly managing a credit card account or two can even help raise your credit score. Credit cards can raise your credit scoreIf you pay them off every month and avoid carrying a balance, credit cards can help raise your credit score. Credit cards are more secure than debit cards, tooAnother advantage to using credit cards is that they offer much stronger fraud protection than debit cards.

In a survey from Kiplinger and Personal Capital, Americans said that high health insurance costs, disappointing investment performance, and debt are keeping them from saving for retirement. Rising healthcare costs are a major concern of Americans of all ages. Personal finance site Kiplinger and digital wealth manager Personal Capital asked 850 Americans what stood in the way of saving for retirement. The data shows that three main factors have put a strain on Americans' ability to save for retirement: healthcare costs, poor investment performance, and debt. For many Americans, high costs of living and the resulting debt is standing in the way of saving for retirement and building long-term wealth.

I'd never been a heavy credit card user, and mainly used debit cards or cash on most of my everyday purchases. After I got my first airline credit card, the United℠ Explorer Card from Chase, I can't see the value in using my debit card, or even my cash-back cards, anymore. I used my Chase debit card all through college, and didn't get my first credit card, a cash-back card, until well after starting my first job. But, after opening my first airline credit card, I realized just how much value I was missing out on. I'm constantly asked how I'm able to travel so much, and my first answer is always that I maximize credit card rewards.

Dirk Cotton retired from a job as an engineer and executive at AOL in 2005 at 52 and lives in Chapel Hill, North Carolina. Dirk Cotton retired from a job as an engineer and executive at AOL in 2005 at 52 and lives in Chapel Hill, North Carolina. His own experience and research have led him to suggest two things that anyone looking to retire in 10 years should do today: find a retirement planner, and adjust your asset allocation. Find a financial planner"You should find a good retirement planner, because retirement planning is incredibly complex," Cotton said. Reduce your equity allocationTen years before he retired, Cotton reduced the percentage of his assets that were tied up in the stock market.

In a survey from Insider and Morning Consult, the majority of partnered millennials said money added stress to their relationships. While slightly more millennials with a financial imbalance — that is, with very different incomes — reported stress, most millennials with similar incomes did as well. But, who's making more is just another factor adding financial stress to millennials' lives. According to data from the same survey, Gen Xers also report quite a bit of money stress in their relationships, with about 56% overall reporting money stress. Millennials are putting off life events as a result of their money stressMoney might be adding stress to millennials' relationships ... but it's also adding stress to just about everything else.

AdvertisementAdvertisementRetirees are looking for affordable healthcare, taxes, and more active lives, so they're looking to new retirement destinations to spend their golden years. Retirement planner Jeannette Bajalia says that healthcare costs and taxes are going to be on retirees' minds as they plan moves in 2020 and beyond. "Healthcare costs are escalating both for routine medical costs as well as for long-term care," Bajalia told Business Insider. On this list, five of the 13 states don't tax income. Plus, according to data from the Kaiser Family Foundation, many of these states have fairly affordable healthcare costs.

Persons: Read, aren't, —, Jeannette Bajalia, Bajalia Organizations: US Department of Health, Human Services, Administration, Aging, Service, Business, American Community Survey, Kaiser Family Foundation Locations: Alaska , Nevada, Colorado, Wall, Silicon, Florida, Colorado , Nevada, Alaska, South Carolina , Georgia, Arizona, New Hampshire, Washington

A new survey found that nearly 40% of American parents who are empty nesters still pay for their child or children's cell phone, groceries, rent, or student loans. More than half of the parents said their child or children left later than expected, and about 60% expect them to move back home at some point. The average age of the 1,800 survey respondents was 49 and 77% were married. According to the survey, nearly 40% of the empty nesters are still giving their grown children money, spending an average of about $250 a month. According to the 55Places.com survey, nearly 60% of parents expect their child or children to move back home at some point, while more than a third said it has already happened.

GoBankingRates' new data shows that many cities in Arizona, California, and Florida are getting too expensive for retirees due to high costs of homes, living expenses, and senior care. New data from GoBankingRates shows just how expensive some cities in these states are getting for retirees living on a fixed income. The rankings show that many of the cities that are becoming the most out of reach for seniors are smaller cities and towns in Florida, California, and Arizona. The top three cities that are becoming the most unaffordable for retirees are Ranchos Palos Verdes, California; Walnut Creek, California; and Lincoln, California. Here are the top 21 cities where rising expenses will require a larger retirement fund:

Persons: Palos, GoBankingRates Organizations: Service, Bureau of Labor Statistics Locations: Arizona , California, Florida, California, Palos Verdes, Walnut, Lincoln , California, Englewood , Florida, Sarasota , Florida, Palm Springs , California, Wall, Silicon, Florida , California, Arizona, Palos Verdes , California, Walnut Creek , California

If you know how to save money in college, you could graduate with a few dollars in your pocket. How to save money in college1. Setting a savings goal for each month or semester will make your savings goal feel attainable. A high-yield savings account is just like a traditional savings account. To save money, you'll have to make moneyThere are plenty of ways to make money in college these days.

There's no doubt that college is expensive, but those four years are also riddled with hidden expenses that aren't part of tuition or room and board. Things like parking, Greek life, and summer storage can all add up, with many bills due monthly or by semester. When deciding which college to attend, many prospective students turn to the school's breakdown of the estimated cost of attendance. There, it's easy to find all the expenses you expect — costs like room and board, meal plans, books and supplies, and even transportation. Here are seven of the most surprising expenses that pop up for college students.

Renting a home can be an ideal option for those wanting extra flexibility and less responsibility. While buying a home can involve some serious saving and commitment, renting can help you maintain your flexibility and lifestyle. Renting also allows you a bit more flexibility than homeownership would, whether you're in a house or an apartment. With renting, you're not tied to the property long-term, and you're also less responsible for saving for repairs, paying for taxes and insurance, and keeping up with other expenses. It's the easiest way to live in a house without the hassle — here are a few reasons why:

The 15 states where $1 million in savings would last the longest include New Mexico, Wyoming, Georgia, and Michigan. Meanwhile, $1 million in retirement savings will last at least 21 years for retirees living in every state in the top 15. Meanwhile, $1 million in retirement savings will last at least 21 years for every state on the list below. Dividing $1 million by the annual cost of living then yielded the years those retirement savings could last. Here are the 15 states where $1 million in retirement funds will last the longest:

Persons: GoBankingRates Organizations: Service Locations: In Mississippi, New Mexico , Wyoming, Georgia, Michigan, Wall, Silicon, GoBankingRates, Hawaii, California

See Insider's list of the best identity theft protection services »Get the latest tips you need to manage your money — delivered to you biweekly. Information including linked bank account numbers, social security numbers, and even dates of birth were leaked, leaving many vulnerable to identity theft. Most commonly, identity theft involves the use and compromise of accounts you already have, as Business Insider's Lauren Lyons Cole previously reported. If you think that identity theft has happened to you, act quickly — once your information has been stolen, thieves can go after everything from your bank account to your health insurance. For more information on recovering after identity theft, read the FTC's recovery guide.

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