Smart Money Links 4U

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners . So, you’re finally vaccinated against COVID. Congratulations! It’s a good feeling, isn’t it? Now that you’re vaxxed, you can think about starting to return to something like normal life. You know, the way it was in the Before Times, before you ever heard that cursed word “coronavirus.” But before you do that, think about vaccinating yourself from bad financial decisions, too. You’ve cut back on a lot of unnecessary spending last year. Now’s not the time to get sloppy and fall back into your old spending habits. Put the mask back on your wallet for now, and consider these six tips for maintaining your financial health: 1. Don’t Overpay for Online Purchases The pandemic moved more of our shopping online, and that might be permanent to an extent. Wouldn’t it be nice if you got an alert when you’re shopping...

When it comes to savings accounts, where do you even begin? Do a quick search, and you’ll find many different options with varying percentages and minimum requirements. It can get overwhelming, fast. Keeping this in mind, we’ve rounded up the best savings accounts — including ones at online banks and traditional brick and mortar — of 2021. We’ve included top information you need to know before opening or switching an account. And before we move on, yes , we recommend that Penny Hoarders have a savings account — keeping your cash in a box under your bed is not a solid, or safe, financial plan. We want you to feel empowered so you can get the best proverbial bang for your buck. We’ve ranked the very best savings accounts available today to help get you started. But first, here’s some background on key terms. What is a Savings Account? A savings account is a bank account where you store your money. Typically, you keep it here for long-term goals instead of using it for eve...

As simple words go, “retirement’’ carries a lot of weight and a lot of baggage. Now that retirement is bouncing around in your mind, and you entertain the thought of giving up your day job, you ask yourself: Is my retirement income and Social Security going to be enough for my preferred lifestyle? What am I going to do with myself every day? One answer responds to both questions. You can “retire,’’ collect Social Security, still work and be productive. The trick is there’s a limit to how much you can make depending on your age. If you are at what Social Security deems full retirement age, you can collect and keep your full Social Security benefits and make as much money as you want. If you are not yet at full retirement age but are receiving Social Security benefits, you can make up to $18,960 a year without penalty. That’s $1,580 a month, or $364 a week. We get into more details later in this post of what happens when you go over that amount. How You Can Work and Collect Soci...

Dear Penny, My 25-year-old daughter moved back home while I was taking care of my mom, who has Alzheimer’s. Because I wasn’t staying there, she never paid rent, but she did pay for internet and gas.  Well, now things are progressing, and I will be selling my mom’s home. I am currently having a room built at my home, since she will be staying there as well.  I have always helped out my kids as a single mom. But my daughter listens to her paternal grandmother, who sadly told her to have me co-sign on a mortgage for her even though she just started working and wants an $800,000 house. I told her NO. I then said her grandmother knows that this is an unrealistic request. I’m about to retire in three years, if not sooner, and still have my own very manageable mortgage. I’ll have a pension and Social Security with only a leased car to pay for.  Now they are thinking of asking me again in a year or so to co-sign. Am I wrong to tell her no? I’m also thinking about selling the...

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners . On a scale of one to 10, how much do you loathe mansplaining? Personally, it’s an 11, taking the top spot over manspreading and bropropriating but barely squeaking past manterrupting. Just thinking about the unsolicited — or downright wrong — advice us women sometimes have to listen to sends chills down my spine. It’s especially bad when it comes to financial advice. Studies show women are increasingly becoming the major financial decision-makers in their homes. So thanks, but we’ve heard enough “oh, sweetie” and “let the men handle it” for a lifetime. Here are some of the most nonsensical financial mansplanations we’ve heard in person and online — yes, they’re real — and what us financially savvy women know to do instead. 1. ‘Cash is King, So Don’t Pay Your Credit Card in Full.’ Sounds like this guy is...

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners . Do you remember why you chose your current checking account? If you got started early, your parents might have helped you open a kids’ account at their bank’s branch. Or maybe you went with the bank down the street from your work after getting your first W2 job. Whatever the reason, location likely played a big part. Thankfully, you’re no longer confined to a financial institution because of its proximity to you — or a brick-and-mortar site altogether, for that matter. From higher interest rates to better benefits, it pays to expand your search beyond your local bank or credit union these days. Here’s how to choose the right checking account for you. Advantages of Choosing the Right Checking Account You probably already know that you need a checking account. It serves as the primary hub for your money...