Wherever you are in the World, be it New York City, New York or Mumbai, India, before technology made things easy and before the explosive use of online services, personal budgets if they were done at all, were largely done on computer spreadsheets, and by far the most popular choice was doing personal finance in excel. Now that apps and technology have made so many things easier, accessible and convenient online, including managing budgets online, it’s time to reconsider if personal finance in excel has had its day, including all the variations of family budget worksheets, financial planning spreadsheets, or any other offerings of managing money in excel. The Benefits…

It’s common to treat yourself to something sweet when you’re feeling down, or celebrate achievements over dinner. However, little “treats” may be emotional spending in disguise. If you’re frequently feeling guilty for buying things you never use, you may be an emotional spender, and this budget-breaker may be more common than you think. In a recent study, over 49 percent of Americans have purchased products in an attempt to spark happiness, and 30 percent of those regretted it. With the holidays coming up, stress, family issues, or holiday excitement may heighten your emotions. To curb holiday emotional spending, read our tips below or skip to our infographic. What Is Emotional…

Using donor-advised funds is a more advanced tax strategy that has gotten more popular recently with the introduction of the Tax Cuts and Jobs Act (TCJA) in February 2020. The TCJA nearly doubled the amount of the standard deduction, which makes it less advantageous to itemize deductions such as charitable contributions. For people with a lot of charitable contributions, donor-advised funds are one option to still get a deduction for charitable contributions. What is a donor-advised fund? A donor-advised fund (DAF) is a registered 501(c)(3) charitable organization that accepts contributions and generally funds other charitable organizations. While the concept of a donor-advised fund has been around for nearly 100 years,…

If you have a special child in your life, you may be wondering what to put under the tree this year. One long-lasting and truly meaningful way to show the child in your life that you care is by taking a few minutes to set up a UGMA/UTMA account and give them a leg up in life. The earlier you open a UGMA or UTMA account for a child, the longer your initial gift has to grow, thanks to the magic of compound interest. For example, investing just $5 a day from birth at an 8{a87f602f9b65d268d2531d6307ed39cfde24e475374069973d0be7fc923da513} return could make that child a millionaire by the age of 50. By setting…

Try a quick Google search like, “how many millennials are broke?” and you’ll probably find a concerning list of headlines: “Are Millennials the Brokest or Richest Generation?”, “Millennials Aren’t Breaking Traditions. They’re Just Broke”, “Further Proof That Millennials are the Brokest Generation,” to name a few. To say making ends meet as a millennial is challenging is an understatement. The good news is that there are plenty of ways you can supplement your income without having to work extra on the weekend. It’s called passive income. From making investments on the stock market to becoming an influencer, odds are, you can find a profitable path that works for you. In…

Many of us know what we’re supposed to do when it comes to basic money management – spend less than you earn, save an emergency fund, and invest for retirement. However, establishing good habits is always easier said than done. Money management, like many important things in life, requires discipline. And discipline isn’t a natural mental state for everydiv. Add to that the guilt and shame that some of us carry when it comes to finances, and you have a recipe for money management misery. Or, at least, a sense of why the “ostrich approach” can seem more appealing than tackling underlying issues. But, as appealing as it may seem,…