The ‘Hermit’ Savings Rules & 8 Frugal Tips for Today’s Economy

Cindy Lamothe   Fri, January 31, 2025   GOBankingRates

When your personal finances combine with your personal space, your spending habits and savings account might be working a bit more harmoniously too. Consumer practices across the world have been altered significantly over the past few years — for obvious reasons and otherwise — in what economists have dubbed “the age of the hermit consumer.”

 “For ‘hermit’ consumers, it can be really easy to make impulse purchases and overspend because of how easy and convenient shopping online is,” said Carter Seuthe, CEO of Credit Summit Consolidation. “Something that can be helpful to maintain a more frugal budget is just to define your expectations and priorities when it comes to the amenities you have.”

5 Major Money Mistakes To Avoid When You’re Nearing Retirement

Jan 24, 2023  By Jennifer Taylor

You’ve been working hard your entire adult life and you’re finally nearing retirement. The prospect of having more time to relax and enjoy yourself is exciting, but you’ll need money to do that.

As you wrap up your peak earning years and prepare to step away from the workforce, it’s important to make smart money moves that will protect your nest egg. All it takes is one poor financial choice to throw a wrench in your plans — and financial stability — so take the time to make informed decisions.

Millionaires Live by These Rules To Build Wealth — Experts Explain If They’ll Work for You

Angela Mae  Mon, January 27, 2025   GOBankingRates

There’s an estimated 24.5 million millionaires in the United States. That’s a relatively small percentage of the country’s population, but it’s also not zero — meaning it’s very possible for more people to achieve “millionaire” status. It’s all about being strategic and intentional with your money and financial decisions.

If you’ve decided to truly pursue the goal of becoming a millionaire, you might be wondering how to get started. What types of rules do millionaires — especially self-made ones — follow to build (and maintain) their wealth?8

Millionaires Live by These Rules To Build Wealth — Experts Explain If They’ll Work for You

Angela Mae   Mon, January 27, 2025  GOBankingRates

There’s an estimated 24.5 million millionaires in the United States. That’s a relatively small percentage of the country’s population, but it’s also not zero — meaning it’s very possible for more people to achieve “millionaire” status. It’s all about being strategic and intentional with your money and financial decisions.

If you’ve decided to truly pursue the goal of becoming a millionaire, you might be wondering how to get started. What types of rules do millionaires — especially self-made ones — follow to build (and maintain) their wealth?

How To Avoid, Prevent 'Financial Infidelity' In Your Relationship

Brad Smith  Mon, January 27,  Yahoo Finance Video

Bankrate Senior Industry analyst Ted Rossman joins Wealth to discuss how couples can avoid financial infidelity in their relationships.

According to Rossman, secret spending is the most common form of financial infidelity, followed by hidden debt and concealed credit cards or bank accounts. He explains that people often hide financial matters because "they feel ashamed about the way they handle money" or they're seeking independence, noting "it's hard for people to mesh those money personalities."

When Financial Infidelity Rears Its Ugly Head

Maurie Backman  Mon, January 27, 2025  Moneywise

I found out my wife, 52, has more than $90K stashed in a secret savings account. What do I do now?

Money can be a point of contention in any marriage. And sometimes, the tension it creates can have big consequences.   Roughly two-thirds of U.S. divorces happen to couples in their 20s, 30s and 40s, according to the American Psychological Association. But the rate of divorce among adults 50 and older doubled between 1990 and 2010. And as of 2019, 36% of U.S. divorces were among adults 50 and up.

Now there are various factors that can lead to divorce, but money tends to be a big contributor. And if you're in your 50s and just found out that your wife has been secretly hiding money in a savings account throughout your 20-year marriage, you may be experiencing a range of emotions, from anger to sadness.

9 Important Financial Emergencies and How To Deal With Them

Personal Finance - Janice Friedman

DO YOU HAVE AN EMERGENCY FUND?

Have you ever encountered a financial emergency? What was it about, and how did you deal with it? Here, we will explore some of the most common financial emergencies and how to deal with them.

9 Important Financial Emergencies and How to Deal with Them

Have you ever been in a situation that requires you to use some finances which you had not anticipated?  In life, we’re sometimes faced with sudden inevitable occurrences.  Whether a sudden sickness, job loss, or sudden demise of a loved one, different financial emergences occurrences require us to dig our pockets deeper to fix them.

7 Ways to Develop Financial Trust in Your Relationship

Harris Financial Coaching

If you find that you're constantly fighting about money or hiding how you spend money from your partner, it may be time to rethink your relationship goals and values. Fighting about money can create tension in a relationship and make it challenging to accomplish future goals. When one spouse gets frustrated with the other, it can seem like you're on an island all on your own, trying to resolve a difficult situation. How can couples develop and build financial trust in their relationship?

From creating a long-term goal to paying bills on time, here are several tips for developing financial trust in your relationship.

Wealth Transfers: 9 Unexpected Obstacles To Plan For Before It’s Too Late

Jordan Rosenfeld  Fri, January 24, 2025  GOBankingRates

If you find yourself in the lucky position of either passing along your wealth to your heirs or receiving a wealth transfer from a relative, this is an exciting thing, but it does come with some legal and financial concerns if not done well.

To save you and your beneficiaries from expensive hassles, experts offered nine obstacles to prepare for and get ahead of to avoid messy court battles or tax implications down the road.

The Most Common Banking Mistakes

I’m a Financial Advisor: Here Are the Most Common Banking Mistakes I See Among Clients

Laura Bogart   GOBankingRates

Financial advisors have seen it all. From people who are burdened by six figures of credit card debt to millionaires, their clients span a range of backgrounds, income, stages in life, and relationships to money. That’s what makes their jobs equal parts challenging and rewarding.

However, as financial advisors gain experience, they come to observe a few general patterns in their clients’ banking and how they manage their finances. And in those patterns, there are some common mistakes. Fortunately, almost every mistake provides an opportunity for people to learn more and do better — if they know where to start.

4 Common Fears About Money To Overcome

Heather Taylor  GOBankingRates

Most people share certain types of financial fears in common. Some will be able to overcome these fears with support, but others will let fear rule the rest of their lives. Leading a life where financial fears take top priority can keep you trapped in an unhealthy financial mindset. It can even lead to losing money throughout your lifetime.

Even if you feel scared to do it, it is possible to break the cycle and develop a healthy financial attitude where money is viewed as a tool that can help, not hinder, you. Here are some of the most common financial fears and what it takes to overcome each one.