Here’s How You Can Double Your Money Using the Rule of 72

David Nadelle   Wed, March 1, 2023

For the climate-conscious, a marker of 72 may be good enough when you’re setting the thermostat. But when it comes to measuring money, the financially aware use lucky number 72 principally to calculate how long it will take to double their investments.

The Rule of 72 is a simple financial planning tool that can be used to calculate how fast your money will double at a given rate of return involving compound interest. Per SmartAsset, the mathematical equation is: 72 ÷ your compound annual interest rate = how many years until your investment doubles.

The Dangers of Closing a Bank Account

Crystal Mayer  Tue, February 28, 2023

Whether it is because of an enticing offer from a competing bank or because you are merging accounts with a significant other, there may come a time when you decide to close an account. While there is nothing wrong with closing a bank account, you need to be sure that it is done the correct way in order to avoid certain pitfalls.  An open line of communication with your financial institution is imperative to successfully closing an account and preventing any negative impacts on your credit or cash flow. By planning ahead and ensuring that you have a positive balance, you can mitigate the following risks associated with closing your bank account.

8 Steps To Improve Your Finances in One Year

Feb 1, 2023  By Jordan Rosenfeld

Financial security is at the top of many people’s wish list. Whether you’re in a job that doesn’t pay what you deserve, you’ve got too much debt or your spending habits outreach your income — this next year can be the one where you finally improve your money situation.

Follow these expert tips to make it happen:

Are Americans Keeping Too Little Cash in Their Checking and Savings Accounts?

Casey Bond   Monday, February 27, 2023

Choosing the right bank account is an important decision, as it can impact how easily you’re able to manage your daily finances. But you’ll also have to decide how much to keep in each account. Let’s explore some popular banking strategies to make sure you’re doing it correctly.

Which Bank Account, and for What?

Americans More Likely To Talk about Politics & Relationships than Money

A survey of 2,000 Americans found they're more likely to talk about politics and relationships with their friends than money

Tanza Loudenback Jun 16, 2021

Even after a year in which personal financial hardship dominated the national conversation, results from Insider's new Master your Money Pulse Poll suggest that Americans still aren't comfortable discussing money with friends.

How Money Can Make or Break Your Relationship

Pam Krueger   Fri, February 24, 2023

One of the biggest financial decisions we will make in life has nothing to do with money. At least, not for everyone. It’s what billionaire investor Warren Buffett claims to be the most important decision he has ever made: choosing who to marry.

Love and money are often a volatile mix that makes or breaks a relationship, according to a survey from the Institute for Divorce Financial Analysts, with “money issues” being one of the leading causes of divorce. However, research shows that couples who are financially in sync often have stronger, happier, and longer-lasting marriages.

Do I Want a Revocable or Irrevocable Living Trust?

Liz Smith Thu, February 23, 2023

As you get older, there are two major things that you should consider. One is retirement. Having the necessary retirement savings and a financial plan will allow you to live the kind of life you want to live during your golden years. The second thing to account for is what will happen to your estate, and estate planning is not just for rich people. And having a strategy in place to pass on your assets will make it smoother for you and your loved ones later in life. A local financial advisor can help you with living trusts and other estate planning issues.

Where Value Ends

James Kerr  |  Feb 17, 2023  Humble Dollar

I recently had a revelation about my adult children: When it comes to money, they’re a lot like me—and that’s both a good thing and a bad thing.

I had this revelation while dining with my 25-year-old son at a sports bar over the New Year’s holiday. The food was marginal—it was a sports bar, after all—but the plates came loaded with food. What’s more, the prices were quite reasonable, especially compared to those in Philadelphia and Washington, D.C., where Liam spends the bulk of his time these days.

What Happens to Your Money if Your Bank Fails?

Jenny Rose Spaudo  Wed, February 22, 2023

Many of you might wonder what banks do with your money while it’s sitting in your account. But how many of you know what happens to it when a bank has to close down?

Thankfully, bank failure isn’t something that happens often. According to the Federal Deposit Insurance Corporation (FDIC), there have been 561 total bank failures from 2001 through 2022. The majority took place during the recession from 2008 through 2011, but zero occurred in 2021 and 2022.