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Archive of Personal Finance Articles – Arla Wallace
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• Calculating College Costs
In calculating the financial feasibility of college, be sure to take into account both direct and indirect costs, as well as eligibility for student loans or scholarships.... more
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• Creditworthiness
The length of your credit history, paying bills on time, and your credit utilization ratio can all impact your creditworthiness and financial well-being.... more
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• Paying for College
Investing in college offers lifelong benefits; funding options like 529 plans, scholarships, and loans can ease costs and maximize value.... more
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• Rising Cost of Living
Despite lower inflation rates, the cost of living remains high, necessitating the need to cut costs, such as energy use, transportation, restaurant meals, and entertainment.... more
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• Managing Unexpected Expenses
Natural disasters remind us to prepare for the unexpected with contingency plans, such as building an emergency fund, reducing expenses, and reviewing insurance coverage.... more
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• Do You Have Enough to Retire?
Transitioning to retirement should incorporate both a measure of your financial assets and an assessment of what you will do in your retirement years.... more
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• Applying for Social Security Retirement Benefits
Utilizing the Social Security website, you can apply online for retirement, calculate the age at which you can maximize benefits, and learn what documentation you will need.... more
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• Tax- Advantaged Retirement Accounts
Retirement accounts can offer various tax advantages depending on the type of plan and whether they are funded with pre-tax or after-tax dollars.... more
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• Tracking Personal Finances
Unlearning bad money habits, avoiding new debt, and utilizing budgeting tools are all essential to tracking your personal financial habits and attaining future financial security.... more
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• Lowering Debt
There are various methods you can use to help you live debt-free, such as debt consolidation, and DIY pay-off methods.... more
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• Budgets for Real Life
Not only will budgeting help you find control over your spending, but it will also help you find financial purpose and peace.... more
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• Do You Worry About Money?
Budgeting, contributing to a retirement plan, purchasing insurance, and having a rainy-day fund are all ways to plan ahead and offer you financial freedom in your retirement years.... more
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• Social Security Retirement, Spousal, and Survivor Benefits
The amount of your Social Security benefits can vary depending on whether they are based on your work history, your spouse’s work, or your eligibility for survivor’s benefits.... more
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• To Rent or to Buy
Home ownership vs. renting is a major financial decision that involves reviewing interest rates, maintenance costs, location costs, and long-term investment goals.... more
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• Understanding the FAFSA: Helping to Fund College
The high cost of a college education in the U.S. makes it essential for applicants to understand and timely file the Free Application for Federal Student Aid (FAFSA).... more
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• Identity Theft: What You Should Know
Safeguard yourself against identity theft by monitoring bank and credit card accounts, protecting personal identification documents, and utilizing two-factor authentication.... more
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• Tax Scams
Whether it is ghost tax return preparers, fraudulent charitable organizations, or IRS impersonators, taxpayers need to be vigilant in protecting themselves from scammers.... more
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• Inflation and the Impact on Consumer Debt
Although consumers do not have much control over prices and interest rates during periods of high inflation, they can try and manage their spending to minimize debt.... more
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• Maintaining Your Standard of Living in Retirement
Take care of your health, set realistic spending goals, and try to delay receiving social security until full retirement age so that you can prolong your retirement income.... more
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• Understanding the Taxes You Pay
In addition to federal income taxes, individuals may also be subject to employment taxes, property taxes, and state income taxes.... more
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• The Need for Financial Literacy
Managing money is a life skill that needs to be taught to children early in life at home, and continued in school so that young people can accomplish their financial goals.... more
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• Paying Off Student Loan Debt
Stay on top of your existing student loan debt so that you do not affect your credit, and familiarize yourself with any future debt reduction programs.... more
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• Low Credit Score
Avoid problems stemming from low-credit scores by reporting fraudulent activity, paying bills on time, avoiding too many credit applications, and paying down existing debt.... more
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• Spender or Saver?
Switching your habits from overspending to saving can help you enjoy your retirement years more comfortably.... more
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