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This would help me become a better partner and contribute more effectively to my wife and our shared financial goals. But we also saw the value of having a joint account for shared expenses, especially because we decided to split financial responsibility 50/50. We opened a joint bank account for shared expensesUpon moving in together, my wife and I first opened a joint checking and savings account for shared expenses. Our joint account also gave us a space dedicated to shared long-term savings goals, such as a wedding and a house. Separate from the joint account, I was responsible for setting up and managing my own budget, credit card, savings goals, and brokerage account.

Persons: —, That's, wasn't Organizations: Service

However, a debt consolidation loan isn't a one-size-fits-all solution, says CFP Uziel Gomez. While I try to avoid carrying high-interest debt and aim to pay my credit card balance in full each month, as a financial coach, people often come to me feeling overwhelmed and wanting help with looming credit card debt. Sometimes, a debt consolidation loan can help, but it's not always the answer. If someone isn't ready for debt consolidation, Gomez recommends whittling away at your credit card payments using either the snowball or avalanche debt payoff method. You haven't established good habitsIf you haven't established good habits to keep your credit card spending to a minimum, it's probably best not to consider a credit card debt consolidation loan or balance transfer card.

Persons: Millennials, Xers, Uziel Gomez, —, it's, that's, Gomez, there's, whittling, he's, haven't, let's Organizations: Service, New York Federal Reserve, Primeros Locations: LA

For Love & Money is a column from Business Insider answering your relationship and money questions. Write to For Love & Money using this Google form. In the best case, you spend $10 and never have to think about it again. As for donating the money, you already know the right thing to do deep down. Write to For Love & Money using this Google form .

Persons: it's, —, There's, I'm, she's, you'll, there's, doesn't Organizations: Business, Service

I was charged $2,500 for damages on my rental car, and I didn't have insurance — just my credit card reimbursement. Luckily, I had rental car insurance through my Chase Freedom credit card. I make it a point to book rental cars on a credit card with a rental car insurance benefit so I can decline the rental car company's collision insurance and save money while still being covered. I saved $250 on my rental car reservation this time by declining the collision damage waiver. I missed one essential documentWhen I got home from Costa Rica, I started the claims process with my credit card immediately so I could be reimbursed for the $2,500 charge before my credit card bill was due.

Persons: —, I'd, takeout, Chase, they're, I've, I'm, I, That's Organizations: Business, Service, Enterprise, Chase, Chase Travel, Spanish, Costa Rica —, Costa Rican Enterprise, U.S . Enterprise Locations: Costa Rica, San, Puerto Viejo, Costa Rican

☆ NASA is planning to give the beleaguered Boeing Starliner another shot at space — in late 2025
▼ + stars: | 2024-10-17 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +4 min

NASA is planning to give the Boeing Starliner another chance. The agency has scheduled two SpaceX launches — Crew-10 and Crew-11 — for 2025. AdvertisementNASA has released the schedule for its commercial launches in 2025, and the Boeing Starliner is slated to get another chance at spaceflight. Advertisement"Meanwhile, NASA is keeping options on the table for how best to achieve system certification, including windows of opportunity for a potential Starliner flight in 2025," it added. The duo are scheduled to return via the SpaceX Crew Dragon in February 2025.

Persons: Starliner, —, Anne McClain, Nichole Ayers, Russia's Roscosmos, Butch Wilmore, Suni Williams, Williams, Elon Musk, NASA didn't Organizations: NASA, Boeing, SpaceX, —, Service, Japan Aerospace Exploration Agency, International, Station, Starliner, Federal Aviation Administration, FAA, Business Locations: New Mexico

My girlfriend and I never talked about pet insurance — that changed when our cat got cancer. I haven't decided whether pet insurance is right for my needs, but I know I'm willing to take on debt for my pets. But without pet insurance, we had to make tough decisions as we tried to save his life. The primary reason is that pet insurance is worse than pre-Obamacare human insurance, and it doesn't cover pre-existing conditions. Get Pet Insurance Quotes Find affordable pet insurance policies with Petted.

Persons: I haven't, —, I've, Wyatt, it's, wasn't, she'd, didn't, Chester, I'm Organizations: Service Locations: Chester

For Love & Money is a column from Business Insider answering your relationship and money questions. Write to For Love & Money using this Google form. Dear For Love & Money,I am wealthy, and my friends always hint about their money problems. I don't know what to do. Write to For Love & Money using this Google form .

Persons: —, I've, you've, it's, doesn't Organizations: Business, Service Locations: Maui, tiptoe

If you travel and you haven't looked at your credit card's transfer partners, you might be missing out. There is no right or wrong way to use points and miles you've earned when you use a credit card, and the options are plentiful. Rewards credit cards allow you to earn points or miles on every purchase rather than giving you cash back immediately. Strategically using credit cards this way is a great way to capitalize on your spending, especially if you love to travel like our family does. My favorite credit cards are the most flexible onesWhile debating what type of credit card to open and use to earn points can be daunting, our family loves using credit cards that give you the most flexibility in redeeming those points.

Persons: haven't, —, you've, I've, Paul into, Paul Organizations: Service, Delta, Venture, Sapphire, Express, Virgin Atlantic, Virgin, KLM Locations: Europe, Minneapolis, St, Paul into Rome, Barcelona

For Love & Money is a column from Business Insider answering your relationship and money questions. This week, a reader won't be able to afford to visit their friend when she moves. Write to For Love & Money using this Google form. I imagined us living as roomies in the retirement home someday," keep your love for your friend front and center. Write to For Love & Money using this Google form .

Persons: —, I'm, We're, aghast, Marco Polo, We're millennials, doesn't Organizations: Business, Service Locations: California

With rising costs, stagnant salaries, and the pressures of social media, financial anxiety among young adults is at an all-time high. According to Time Magazine, there is growing evidence linking financial anxiety to negative physical and mental health outcomes. As a financial planner, I have five ways young adults can overcome their financial anxiety. One way to reduce financial anxiety about the future is by planning ahead. We see our peers going on trips or buying things we can't afford, which only feeds into our financial anxiety.

Persons: —, doesn't Organizations: Service, Time Magazine

You don't need to know exactly how you'll use your retirement savings — instead, focus on timing. I recently spoke with my financial planner, Liz Schieck, about investing and saving for retirement. I asked her what she's hearing from clients, particularly millennials and Gen Z clients, about best practices. Current trends around investing and retirementMany new clients at Schieck's firm first reach out because they want to discuss saving for retirement. Schieck believes that you don't always have to know what you're saving for.

Persons: Liz Schieck, —, Schieck, you've, they're, doesn't Organizations: Service

I'm still a big fan of taking out life insurance, so I suggested a cheap life insurance plan I found from Corebridge Direct. To help settle our argument, I asked certified financial planner Ryan Nelson if buying cheap life insurance is worthwhile or if it's better to invest that money elsewhere. Those who achieved financial independence might not need a cheap life insurance planI asked Nelson if there was anyone who would be better off skipping out on paying for a cheap life insurance plan. In these circumstances, I'd strongly recommend they connect with an advisor that does not sell life insurance," Nelson said. That means that a cheap life insurance plan is better than not having one at all.

Persons: Ryan Nelson, —, We've, I'm, Nelson, it's, I'd Organizations: Service, Corebridge

Ally automatically moves "safe-to-save" money into savings — I've saved over $4,000 this way. Toss a rock in any direction, and you'll find banks advertising high-yield savings accounts with interest rates between 4.5% and 5.0%, even after the Federal Reserve lowered interest rates. Ally has savings features that boost my financial goalsAlly also has easy-to-use savings features, such as creating up to 30 buckets for different goals. I also have surprise savings set up, and usually, a few times a month, I get a notification to expect a surprise savings. Since I opened my main savings account three years ago, I've stashed away nearly $4,000 in surprise savings from one account.

Persons: Ally doesn't, Ally, I've, — Organizations: Service, Federal Reserve Locations: there's

For Love & Money is a column from Business Insider answering your relationship and money questions. Write to For Love & Money using this Google form. Buying them all new shoes doesn't feel optional to me, but it does to my partner, who is still pretending we're surviving off only one income. Your partner doesn't want to spend just to spend, and I don't think you want to save just to save. Write to For Love & Money using this Google form .

Persons: isn't, —, I'm, it's, we're, they're, doesn't Organizations: Business, Service

The specific cruise ship you go on — and the room you're in — can determine what kind of time you have. Research your shipWhen you cruise, the ship is your hotel, your mode of transportation, your restaurants, and oftentimes, it provides professional entertainment, too. Your cruise ship isn't merely a way to get from point A to point B. If you can, avoid a noisy cabin right under the pool or on a deck right above or below the theater." Most cruise drink packages don't begin until you leave ports of call, so you can usually only get included drinks while you're sailing.

Persons: —, I've, Judy Schwartz, Schwartz, lounging, You'll, she's Organizations: Service, U.S, Royal Locations: —, Hawaii, Alaska, Scotland, Ireland, Norwegian, Bahamas, Labadee, Haiti, Royal Caribbean, France, Tallinn, Estonia

My husband and I spend money in different ways, but we worked to set our financial goals together. We have our retirement and investments with our favorite financial services company, where we occasionally get advice from our financial advisor. Most of our expenses are debited from this pool of money, set up on auto-pay, of course. We have each other's phone codes, email passwords, and the like, so it was only natural that we both have access to all our money accounts, too. We both have access to all accounts, all credit cards, retirement accounts, and 529 plans, passwords, and all.

Persons: —, I'm, spender, that's, doesn't Organizations: Service, Costco, Walmart Locations: Napa, Florida, incidentals

My husband and I have seen our price of living go up a lot lately, but our credit cards have helped. Credit cards can have a bad reputation, but by using them responsibly, we've benefited. As a result, we have come to rely on our rewards credit cards more than ever. My business credit card helps me keep my spending separateMy husband and I have — for the most part — always kept our spending separate. Note that credit card lenders may use many different variations of credit score models when considering your application.

Persons: we've, —, There's, I'm, I've, It's, Chris Organizations: Service, Chase, Chase Travel, Sapphire, Apple Locations: Denver

When I got pet insurance, it was tempting to get the cheapest policy until I saw what it covered. When I first started pricing out pet insurance, it was tempting to just get cheap pet insurance. Since my dog is four and very active, I decided to go with a more expensive pet insurance plan. The less expensive pet insurance plan I was considering doesn't cover all of these things, especially the accident and illness exams. It gives me peace of mind, and that's worth every pennyMy pet insurance plan has a low deductible of $250.

Persons: I'm, —, we'd Organizations: Service, Lemonade Insurance

And bitcoin IRAs overall may not be the best way to get exposure to digital assets into your retirement portfolio, he adds. Read on for more on the pros and cons of bitcoin IRAs, and which investors they may make sense for. Self-directed bitcoin IRAs offer many of the same tax benefits as regular IRAs, like tax-deferred growth in traditional IRAs and tax-free withdrawals from Roth IRAs. Supports IRA rollovers, traditional IRAs, Roth IRAs, SEP IRAs, and 401(k)sCheck mark icon A check mark. Supports IRA rollovers, traditional IRAs, Roth IRAs, SEP IRAs, and 401(k)sCheck mark icon A check mark.

Persons: Bitcoin, Rollovers, Roth, bitcoin IRAs, Chris Chen, Read, Chen, Roth IRAs, they've, bitcoin, it's, Bitcoin IRAs Organizations: BitcoinIRA, Insight Financial, IRA, Better, Pew Research, SEC, CFTC Locations: cryptocurrency, U.S, bitcoin

For Love & Money is a column from Business Insider answering your relationship and money questions. Write to For Love & Money using this Google form. I imagine your wife doesn't view it as a tragedy. If you can't live this way, then something has to change, and your wife must open her heart to this. Write to For Love & Money using this Google form .

Persons: —, she's, it's, we're, I've, you'll, doesn't Organizations: Business, Service

When my dad died, I realized life insurance was a priority, but it doesn't cover everything I need. After that ordeal, I decided to up my life insurance to ensure that my family wouldn't face the same troubles if I died unexpectedly. It was important to me that — on top of paying funeral costs — my life insurance policy also covered our home's mortgage. Unlike critical illness insurance, cancer insurance only covers costs associated with cancer. While different health insurance plans offer different treatment coverages, Aflac's cancer insurance offers supplemental coverage that covers several treatment options.

Persons: I'm, doesn't, Samantha Chavarria Samantha Chavarria, she's, Read Organizations: Cancer, Aflac, Ambulance, Houstonia, Twitter Locations: Latina, Houston

While HYSA rates are dropping, they're still far higher than many traditional savings account rates. With the Fed cutting rates for the first time in four years, many are anticipating a decrease in the interest rates on high-yield savings accounts — finding a high-yield savings account with a 5% interest rate is already getting harder. High-yield savings accounts are low-riskOne major reason to keep your money in a high-yield savings account is that it is a low-risk option. Interest rates still beat other savings accountsOne of the best reasons to keep your money in a high-yield savings account is the higher interest rate compared to traditional bank savings accounts. High-yield savings accounts are still ideal for your emergency fundHigh-yield savings accounts are an excellent choice for short-term (up to a year) and medium-term (one to five years) financial goals.

Persons: they're, Jovan Johnson Jovan Johnson, Jovan Organizations: Barclays Bank, Bank of America, CPA, Instagram Locations: Atlanta , Georgia

Mortgage rates are expected to drop, which means that it might be a good time to buy a second home. There's no perfect time to buy a home, so I'm more concerned with whether it feels like a good time. So, while mortgage rates are expected to go down this year for primary homes, mortgage rates for second homes might not fall as equally. Still, the Fed rate cut is already impacting mortgage rates, which could benefit second-home mortgages, as well. Barring a big windfall of cash allowing you to buy something outright, there may never be a "perfect" time to buy a home.

Persons: Grams, I'm, Grams —, doesn't, Cheryl Lock Cheryl Lock, Read Organizations: USA, Forbes, MarketWatch, Twitter, LinkedIn Locations: Denver

The simplest credit card debt management option I've learned is the balance transfer card. He used a business credit card to buy the t-shirts, totes, inks, transparencies, cleaners, and other tools he needed to fulfill orders. Balance Transfer Credit CardsThe best balance transfer credit cards can help you take control of your debt. A balance transfer credit card will make paying off the debt easierThat's where the balance transfer card came in. Credit card companies often offer an interest-free introductory period when you transfer your balance from another credit card company onto their card.

Persons: —, I've, He's, Wells, it's Organizations: Service, Chase, Citi

For Love & Money is a column from Business Insider answering your relationship and money questions. Write to For Love & Money using this Google form. My great-grandparents passed down a large fortune to their kids, who passed it down to my parents when they died. Now, my parents have their share of the family inheritance. Write to For Love & Money using this Google form .

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