Americans’ 5 Favorite Cash Hiding Places — How Much Should You Keep at Home?

Nicole Spector   Sun, June 18, 2023

For roughly the past 100 years, there has been an element of consumer distrust around banks. During the Depression, 9,000 banks failed. There was no FDIC insurance back then (that arose with the New Deal), and some $7 billion in customer deposits vanished. People were left penniless. Those depositors had more than enough reasons to justify their skepticism, disappointment and devastation when it came to banks.

The Best Financial Advice From 7 Real Dads

Jordan Rosenfeld  

Learning how to earn, manage and invest money isn’t something that kids are typically taught in school. In fact, according to Youth.gov, many kids lack basic financial knowledge of everyday situations, from budgeting to reading an invoice. In one financial survey, high school seniors only scored an average of 48% correct, revealing a need for financial education. Who better to get money advice from, then, than dads with financial expertise? Here’s what seven fathers with real-life wisdom shared.

Adopt a Growth Mindset

Jonathan Sanchez, father of two, a real estate investor and co-founder of Parent Portfolio, teaches his kids to think beyond just how much something costs.

15 Money Truths Your Successful Friends Won’t Tell You

Dan Ketchum   Fri, Jun 16, 2023,

Are you tired of working the same job you've sworn to quit countless times? You might be stuck in a rut -- and your more successful friends have noticed. You might envy their Saturday morning hikes and large retirement accounts, but it might simply be a result of not approaching problems or opportunities like they do.

If you're wondering what your successful friends are thinking about the way you manage work and money, take a seat because here is what they're not telling you.

Case Closed & Lessons Learned

Robert C. Port  |  Mar 8, 2023

EVERYTHING I KNOW about managing money I learned in court. As part of my legal practice, I represent people involved in disputes over money or property. These can include claims against financial advisors for alleged misconduct, contested wills and trust disputes, and family members at odds over a family business.

These disputes can teach us important personal finance lessons. Here are four lessons—learned the hard way—from four cases my firm handled. All are based on an actual case, though names and details are changed to protect the litigants’ privacy.

Forced To Retire Early? 4 Steps To Secure Your Finances

Yaёl Bizouati-Kennedy   Wed, Jun 14, 2023,

While many workers look forward to the day they retire, others who are forced into early retirement — whether because of layoffs, health or other reasons — don’t have the same experience. Most important, they don’t have the same financial cushion to fall back on.

Increasing Iife expectancy and low levels of retirement planning might further complicate the matter.

6 Causes of Financial Problems and How You Can Solve Them

Nicole Spector  

So many Americans are trapped in debt and underfunded for retirement that one has to ask, “What is going on? Why are so many of us in such financial trouble?”

A lot of it isn’t our fault and is beyond our control, but we do need to get to the root of the money problems that we can control. So, it’s important to understand the causes of financial problems. What are they and how do they manifest? More importantly, how can we solve them?

6 Tips For Finding The Right Financial Advisor

James Royal  Wed, Jun 14, 2023,

If you’re not an expert in money matters, choosing a financial advisor to manage your money life can be a tough decision. It’s almost impossible to know every financial arena well because they can be so specialized. Estate planning is completely different from picking the right investments, for example. Managing a portfolio is different from crafting a monthly budget.  If you’re looking for the basics – someone to invest your money, make smart decisions and build a financial plan – one good option could be a robo-advisor.

5 Ways To Achieve Lifelong Financial Wellness

Karen Bennett  Tue, Jun 13, 2023, BankRate

Problems such as lingering high inflation, increased borrowing rates and the threat of a recession have many Americans worried about their finances. In fact, more than half (52 percent) say money has a negative impact on their mental health, according to Bankrate’s financial wellness survey.

Financial wellness is the ability to manage your money in a healthy way, which involves living within your means, setting financial goals and taking the necessary steps to meet them. Financial wellness can enable you to weather things like a job loss or an unplanned large expense. It provides the peace of mind that leads to reduced stress, a healthier mindset and better sleep.

What Does It Take To Be Rich

Americans were asked what it takes to be rich. Here's what they said.

Aimee Picchi    Tue, Jun 13, 2023,

Americans have a specific number in mind about how much it takes to be perceived as wealthy, and it's a sizable chunk of change: an average of $2.2 million in assets.

That may seem like a pie-in-the-sky number, especially given that the median net worth of the typical family stood at about $122,000 in 2019, according to the most recent data from the Federal Reserve's Survey of Consumer Finances.

Why You Should Have More Than One Savings Account Right Now

By MICHAEL BROMBERG Published June 13, 2023

One of the many consequences of the Federal Reserve's aggressive series of interest rate hikes since March 2022 has been a sharp increase in the yield you can earn in your savings deposits. Today, the top high-yield savings accounts pay an annual percentage yield (APY) of 5% or more, while rates on the top money market accounts are as high as 5.25%.

If you currently have a single account that does not match these payouts, it may be time to consider opening a new one or a secondary account—even if that means turning to a new bank or credit union.

Top 10 Most Common Financial Mistakes

By EMILY NORRIS

Here we'll take a look at some of the most common financial mistakes that often lead people to major economic hardship. Even if you're already facing financial difficulties, steering clear of these mistakes could be the key to survival.

1. Excessive and Frivolous Spending

Great fortunes are often lost one dollar at a time. It may not seem like a big deal when you pick up that double-mocha cappuccino or have dinner out or order that pay-per-view movie, but every little item adds up.