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Loud budgeting is a financial trend that has gone viral as people look to save money. CFP Chloe Moore says loud budgeting can help you spend on the things that really matter to you. According to Certified Financial Planner Chloe Moore , loud budgeting can be a great way to stick to your savings goals, set financial boundaries, and even reduce anxiety around money. AdvertisementHere are 3 ways Moore says you can incorporate loud budgeting into your finances:1. Set financial boundariesWhatever your budget is for entertainment, eating out, or clothes shopping, set it and stick to it.

Persons: Chloe Moore, —, ” Moore, Moore, don’t, SoFi, “, you've Organizations: Service, Finance

If you decide to wait to buy a home, there are still positive actions you can take with your money. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Here are 4 places you can put your money to maximize your return if you think mortgage rates are too high:1. If you don't transfer to a zero-rate balance card, another option might be to get a relatively low fixed-rate personal loan. The best personal loan rate you can get will depend on your income, credit score, and debt-to-income ratio.

Persons: —, you've Organizations: Invest, Service

Despite mortgage rates hovering around 6%, homeownership is still a top priority for many Americans. Matt Vernon, head of consumer lending at Bank of America, says prospective homebuyers shouldn't try to time the market. Despite this, many prospective homebuyers are ready to act. According to Matt Vernon, head of consumer lending states at Bank of America, it's not worth waiting for rates to drop if you're otherwise ready to buy. For instance, approximately one-third of prospective homebuyers would consider starting an online store to sell handcrafted pieces (34%) or selling some of their belongings (31%) to save for a home.

Persons: Matt Vernon, shouldn't, —, it's, homeownership, Homeownership, Vernon, they'd, today's Organizations: Bank of America, Service, Finance

Ahead of tax season, keep an eye out for scams to steal your personal information and money. With the start of tax season comes tax scams aimed at stealing your identity and your money. Once a scammer has your SSN, they have everything they need to create a tax return and have your tax refund sent to them. Scammers will offer to file a tax return for you that will get you a larger tax refund — for a fee, of course. It is only a matter of time before the tax return is flagged and an audit is ordered, but by then the scammer will be long gone and you'll be left holding the bag for filing a false tax return.

Persons: —, Scammers, you'll Organizations: Service, Internal Revenue Service, Social, IRS

☆ Almost half of New Year's resolutions are abandoned in the first month. Make 4 adjustments to keep your money goals going strong in February.
▼ + stars: | 2024-01-31 | by ( Jennifer Streaks | Sarah Silbert | Senior Personal Finance Reporter | ) www.businessinsider.com time to read: +4 min

Read previewFebruary is almost here, and this is when many of us start to lose our grip on money resolutions. Pay off your credit card in full every monthThis is the no. Paying off your credit card in full every month has so many benefits. Because credit card interest rates are so high right now, paying off your credit card in full each month means you avoid that charge altogether. If you're paying off credit card debt, autopay lets you set up how much you can afford to pay towards that debt every month.

Persons: —, autopay Organizations: Service, Business Locations: Sephora

"It's important to be an educated and prepared borrower," Bank of America's Matthew Vernon told Business Insider. Having strong credit and getting prequalified are important to your homebuying process, he said. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Home affordability is more than the mortgage payment. It's important to look into the true cost of homeownership for any home that you're interested in buying.

Persons: Bank of America's Matthew Vernon, —, Matthew Vernon, Vernon, You've Organizations: Bank of America's, Business, Service, Bank of America Locations: Vernon

The best way to avoid identity theft is to be aware of common scams and their tell-tale signs. Online account tax scamsThe Internal Revenue Service has come out with guidance on this particular scam. It involves scammers who try to sell or offer help with setting up an online account with irs.gov , and it can subject your personal and tax information to identity theft. Make sure that any online tax account that you open begins at irs.gov. The most common one involves the supposed employer sending you a fake money order or fake company check to deposit into your bank account.

Persons: —, scammers Organizations: Service, Federal Trade Commission, FINRA Investor Education Foundation, Revenue Service, IRS, Valentine's Locations: irs.gov

Start a nest egg or emergency fundNow is the time to build a nest egg or emergency fund , whether you're starting from scratch or need to beef yours up. A nest egg puts your mind at ease because whatever happens you will be prepared," says Moore. A nest egg also keeps you out of debt . Start saving money right now so you can see great progress by the end of the year. Building a nest egg is a major step towards financial stability that really pays off down the road.

Persons: Chloe Moore, Moore Organizations: Business, Quicken, Finance

Certified Financial Planner Chloe Moore says that there are three common mistakes she sees people make that leave them cash-strapped and under financial strain. "You have to look at more than just the monthly payment," Moore states. Don't create another bill for yourself that will take money away from saving and other expenses," Moore states. Check your everyday spending at the grocery store and on monthly expenses like utilities and gas. I can bet that it's to those everyday expenses that have increased over time," Moore says.

Persons: Chloe Moore, Moore Organizations: Business, Finance

☆ 3 reasons why a financial planner advises against using buy now, pay later, even though it's practically everywhere
▼ + stars: | 2024-01-18 | by ( Jennifer Streaks | Sarah Silbert | Senior Personal Finance Reporter | ) www.businessinsider.com time to read: +3 min

Buy now, pay later plans — installment loans that allow you to spread out payments over time — aren't exactly new, but they've seen explosive growth over the last several years. AdvertisementBut Chloe Moore , a certified financial planner based in Atlanta, Georgia, says that buy now, pay later is still debt and that most people should steer clear of it. Here are three reasons why she advises her clients against using buy now, pay later:1. Since buy now, pay later is so easy to use, some consumers have multiple installment plans that they are paying in a month. If you have multiple installments that you are paying with a buy now, pay later plan, you may be eliminating any breathing room in your budget.

Persons: BNPL, Chloe Moore, —, Moore Organizations: Consumer Financial Protection Bureau, PayPal, Finance Locations: Atlanta , Georgia

☆ A financial behavior expert says ignoring your money always makes things worse, but 3 steps can help you regain control
▼ + stars: | 2024-01-17 | by ( Jennifer Streaks | Sarah Silbert | Senior Personal Finance Reporter | ) www.businessinsider.com time to read: +4 min

Financial behavior expert Stacey Tisdale says feeling overwhelmed leads people to ignore their finances and makes things worse. Make money management less stressful by using a budgeting app or hiring a financial advisor. According to financial behavior expert Stacey Tisdale , this is the main reason people ignore the hard truths about their finances. Related storiesHere are three steps you can take to stop ignoring your finances and get your money back on track:1. Build your financial competence over time, and understand that financial stability is a journey and not a race."

Persons: Stacey Tisdale, —, Tisdale Organizations: Service, Finance

It's important to start saving for retirement as soon as you can and plan for healthcare expenses as you grow older. These challenges can put your retirement savings at risk and make the quality of your retirement uncertain. AdvertisementHere are three risks to your retirement savings you may not have considered. However, procrastinating with your retirement savings means losing time and money you will never recover. Outliving your moneyThere is a risk that you could outlive your retirement savings.

Persons: —, that's Organizations: Service, America

According to TransUnion , 168.6 million consumers carried a credit card balance at the end of September. With higher interest rates affecting credit card balances, the cost of buying gifts this year, or even everyday essentials, is higher than ever. If you can pay off your credit card balance in full every month and take advantage of rewards and perks, the use of a credit card can be beneficial. Here are three steps you can take right now to avoid being shocked by your credit card bill in January:1. If you can pay your existing credit card bill off in full, great … but if you cannot, prepare to make a hefty payment so you don't incur high interest charges or have a credit card bill that lingers well into the new year.

Persons: Uber Organizations: Service, Business, Quicken Locations: TransUnion

She advises not to wait to learn about credit and debt, to save for retirement, or to sign up for a 401(k) if you can. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Cox shares three areas where procrastinating with your money goals can cost you down the road. "Take the time to educate yourself on how credit works (payments, late payments, credit scores , credit mix, utilization ) before you get a credit card ," Cox says. When you miss out on saving for a decade of your life (your 20s), you may need to win the lottery to make up that time in saving," Cox told Business Insider.

Persons: Lynnette, Cox, —, Robinhood Organizations: Service, Resilience, Business, Robinhood

☆ Gen Z wants to retire early, but an expert who has helped people with money for 20 years says 3 things could stand in their way
▼ + stars: | 2023-12-01 | by ( Jennifer Streaks | Senior Personal Finance Reporter | Read More | ) www.businessinsider.com time to read: +4 min

Gen Z is the youngest generation in the workforce and many members want to retire early. Gen Z is in the workforce … and they are already looking for the exits. Gen Z is starting out with less money, more expenses, and higher costs." Here are a few issues Tisdale says Gen Zers could see impact their early timeline for retirement:1. What might help Gen Z reach their goal"It's important for Gen Z, since they are just getting started, to learn business basics and educate themselves on entrepreneurship, side hustles, and investing," Tisdale told Personal Finance Insider.

Persons: —, Gen Zers, Stacey Tisdale, Gen Z, Tisdale, Zers, Gen, Robinhood, Z Organizations: Service, Transamerica Center, Retirement Studies, Finance

When a friend told me she's changing jobs, careers, and industries, I shared classic advice from my dad. First, he told me years ago, make sure you're financially stable. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Save as much money as you canStarting a new job, career, or business can exhaust a lot of resources.

Persons: — Organizations: Service

☆ An expert who spent 6 years studying financial behavior says retirement can sneak up on women — but there are 3 ways to get ahead of it
▼ + stars: | 2023-11-21 | by ( Jennifer Streaks | Senior Personal Finance Reporter | Read More | ) www.businessinsider.com time to read: +4 min

Retirement saving can be difficult for women because of lower wages and time out of the workforce. To avoid being unprepared for retirement, women should start saving for retirement as early as their 20s. Start saving early, get out of debt, and create multiple streams of income. If women can start saving as early as possible, as early as their 20s, she says, they will be better prepared for retirement. Save often and start early"It's important for women to start saving money for retirement as early as possible," Tisdale told Business Insider.

Persons: —, Stacey Tisdale, Tisdale, Robinhood, " Tisdale Organizations: Service

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). My dad taught me a credit card is not an extension of your income — it's credit the issuer expects to be repaid. Once I graduated college, started working, and bought my first house, I decided it was time to get my first credit card. Right now credit card debt is at an all-time high of over $1 trillion according to a report by the New York Federal Reserve. Find the Right Card for You Checking to see if you're pre-approved for a credit card offer can help you find the right card while safeguarding your credit score.

Persons: — Organizations: Service, New York Federal Reserve

☆ Even though turkey prices dropped, Thanksgiving dinner won't be cheaper this year. Here are 5 ways to bring costs down.
▼ + stars: | 2023-11-17 | by ( Jennifer Streaks | Senior Personal Finance Reporter | Read More | ) www.businessinsider.com time to read: +4 min

Turkey costs may be down, but Thanksgiving dinner will still be expensive this year. Make dinner a potluck, opt for cuts of turkey instead of the whole bird, or use a Thanksgiving meal kit to save. Inflation is finally slowing down and turkey prices have dropped, but Thanksgiving dinner will still be expensive this year. You will be surprised at what you already have on hand that you can whip up for Thanksgiving dinner. Use a Thanksgiving meal kitIn an effort to make Thanksgiving prep easier and less expensive, several retailers have put together Thanksgiving meal kits that have all you need in one place and for a budget -friendly price.

Persons: —, Wells Organizations: Service, Wells Fargo AgriFood Institute, Walmart, Aldi, Target Locations: Turkey, Wells Fargo

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Using your credit card rewards can save you money on travel, gifts, and the credit card bill. You can also earn rewards by strategically using your credit card to cover groceries, shopping, and travel. But your holidays don't have to be more expensive — if you use the right credit card rewards to make those purchases, you can save yourself some money. Here are three ways to use your credit card rewards for holiday shopping:1.

Persons: — Organizations: Service, National Retail Federation, National Retail

☆ Verizon and AT&T are now requiring debit card payments to get the full autopay discount. Here's how to decide if it's worth it.
▼ + stars: | 2023-11-11 | by ( Jennifer Streaks | Sarah Silbert | Senior Personal Finance Reporter | ) www.businessinsider.com time to read: +6 min

But your credit card rewards and cell phone protections may be worth more than the monthly savings. Credit card transactions cost businesses more than debit card payments. Credit card issuers use those extra fees to fund credit card perks such as rewards and discounts. The main difference between linking a debit card and a credit card is account protection. Fees no monthly service fee Annual Percentage Yield (APY) None Minimum Deposit Amount $0 Pros Check mark icon A check mark.

Persons: —, Cash Organizations: Verizon, AT, Service, Discover, Discover Bank Locations: Canada, Mexico, Caribbean

Inflation and Fed hikes have pushed mortgage rates to their highest rate in 20 years. 30-year mortgage rates are expected to fall in 2024. Before you rush to buy a house, look beyond the interest rate. Before inflation and high interest rates, mortgage rates were around 3% … now they can be as high as 8%, the highest rate in 20 years. Here are three signs you shouldn't rush to buy a home even if interest rates fall.

Persons: —, you've Organizations: Service, Quicken Locations: American

My dad let me know that I was spending my money as fast as I was earning it. He told me to handle the money I already had better by paying cash, living within my means, and ditching debt. When I first started making real money, I quickly found myself in a position where there was more money going out than coming in. My dad didn't agree. "You just started working," he said, "you don't have a financial cushion, and as soon as you get paid you are spending money."

Persons: —, didn't, it's Organizations: Service

Thanksgiving is the peak day for home cooking fires, with more than three times the daily average of incidents. Thanksgiving is the most fire-prone day of the year and the peak day for home cooking fires, according to the National Fire Protection Association. There are more home fires on Thanksgiving than any other day of the year, with more than three times the daily average. Unattended cooking was by far the leading contributing factor in cooking fires and fire deaths. Thanksgiving fire safety tips:The NFPA shares the following tips to reduce the chances of a fire over the Thanksgiving holiday:1.

Persons: —, you'll Organizations: Service, National Fire Protection, NFPA Locations: Turkey

Using a debit card instead of a credit card can also protect your credit score. Despite conventional wisdom that you should use a credit card for most charges, there are several benefits to using a debit card. Using a debit card may earn you rewards or pointsDebit card rewards may not be as numerous as their credit card counterparts, but you can still earn perks from everyday spending. Fees no monthly service fee Annual Percentage Yield (APY) None Minimum Deposit Amount $0 Pros Check mark icon A check mark. Using a debit card is also a great way to get used to handling money before you get a credit card.

Persons: —, Cash Organizations: Service, Federal Reserve, Apple, Discover, Discover Bank Locations: Canada, Mexico, Caribbean

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