Tag: saving

Here's a question I've used to start more than a few personal finance conversations: would you rather have $1 million right now, or take a single penny — doubled every day for 30 days? Most people pick the million. Almost every time. They're wrong. By day 30, the penny-doubling path…

The average American carries $6,715 in credit card debt, and average credit card APRs are running in the 20-25% range in 2026. At those rates, a $6,700 balance paying only the minimum can take years to clear and cost more in interest than the original purchases. Getting out of debt…

If you're self-employed and not taking full advantage of a SEP IRA or Solo 401(k), you're likely leaving a significant amount of tax-deferred savings on the table every year. I've talked to a lot of freelancers and small business owners over the years who are diligently contributing to a regular…

One of the biggest financial decisions many people face isn't about a specific purchase — it's about where to live. The gap between big-city and small-town costs of living can be enormous, and it's worth breaking down where that gap actually comes from before assuming one option is automatically "better."…

The SIMPLE IRA (Savings Incentive Match Plan for Employees) is one of the most practical retirement plan options for small businesses. For 2026, the contribution limit rises to $17,000, and the catch-up provisions got a meaningful boost under SECURE 2.0. These 2026 figures are confirmed in IRS Notice IR-2025-111. 2026…

The average credit card APR is running above 21% in 2026 — over 23% on new accounts — and late fees are back up near their old highs after a court struck down the CFPB's $8 cap in 2025. Both of those facts change how much a slip-up actually costs…

Most people know they should have life insurance and still don't get around to buying it. Part of the reason is that nobody wants to think hard about their own death. The other part is more practical: it's not obvious how much coverage is enough, or what it should actually…

The standard deduction for married filing jointly is $32,200 in 2026 — close to double the $16,100 a single filer gets, according to the IRS's 2026 inflation adjustments. That's usually the single biggest tax change marriage brings, but it's far from the only one. Your filing status is locked in…

Boosting retirement savings isn't about finding one clever trick — it's mostly about using the accounts and incentives already available to you more fully than you currently are. Here are ten concrete ways to do that in 2026. 1. Get Your Full Employer Match If your employer offers a 401(k)…

Here's the number that should frame this whole decision in 2026: the national average savings account pays around 0.6% APY, while top online high-yield savings accounts pay 4% or more. Where you park your money now matters more than it has in most of the past two decades. The old…

After about a year of running my business, I'd built up a decent cushion of savings sitting in a checking account earning close to nothing. The account had features I liked, but it wasn't putting compounding to work for me — so after a promotional offer (a bonus rate plus…

Nowadays every extra dollar counts more than ever. Despite a paycheck from working a regular job, once taxes and other fixed expenses are accounted for, it is getting harder and harder to make ends meet. Since there are only twenty four hours in day, physically working more (provided you can…

In an argument with my wife over our holiday spending on gifts, travel and entertainment, I got accused of being a cheapskate because I refused to put aside money/budget worries during the holiday season. “What’s the point of saving if we cannot spend the money on the ones we love?”…