How to Budget for Holiday Travel

Budgeting makes travel better. It gives you a structure to save for your vacation and to plan out all the details you want to incorporate into your travel. With discipline and research, you might be able to expand your travel activities to include extras that otherwise would be out of reach. Not having the funds to book a five-star, all-inclusive vacation does not mean you have to don a backpack and hitchhike your way to the nearest hostel. Budgeting can help folks with even modest incomes to enjoy comfortable, well-planned excursions.

Investment 101: How to Start a 401(k)

To encourage people to save for retirement, the government offers a number of tax advantages for contributing to special retirement plans, including 401(k) plans, which can be offered by for-profit companies. Knowing how your 401(k) plan functions helps you make better decisions about how much you want to contribute and how you want to invest the money in the account.

What Should You Do With your Tax Refund?

A tax refund can give you a sudden influx of unexpected cash that you can use for a variety of purposes. But make sure you have a plan for the money, and don’t be in too much of a hurry to get your money by signing up for a refund anticipation loan or other product. “Generally this is a bad idea,” says Ben Wacek, a certified financial planner and founder of Wacek Financial Planning, LLC. “It’s important not to rely on a refund for financial well-being, and so it’s best to just be patient and wait for the refund.”

New Year Financial Resolution: Buy a New Car

The clock striking midnight to ring in a new year can be that little extra motivation you need to get on track to save for a new set of wheels. However, buying a new car requires more planning than just driving down to the dealership and signing a few papers. how much you can afford and shopping for the best deal on financing ensures you’ll enjoy your new ride and make payments without a hitch.

New Year Financial Resolution: Pay Down Debt

Paying down debt can be a life-altering New Year’s resolution — if you actually carry it out. Often, best intentions are not enough. To successfully reduce your debt levels, you can employ tools and strategies to make the job easier. The rewards for paying down debt include more money for discretionary spending or saving, improved credit scores and an ego-boosting sense of accomplishment.

Suffered a Financial Setback? Tips on How to Recover

Financial setbacks come in all shapes and sizes, from a pay cut to an unexpected trip to the hospital or car accident that insurance didn’t cover. No matter what causes the financial setback, be honest with yourself about your situation so you can move forward to bigger and better things. “It is helpful to be realistic and understand that denial will only make the problem worse,” counsels Marcio Silveira, a certified financial planner in Arlington, Virginia.