Together Budget

Building Wealth for Black Families: A New Era of Support As we navigate the complexities of personal finance, it's essential to acknowledge the historical and ongoing disparities in wealth building among Black families. For decades, systemic inequalities have hindered progress towards financial stability, leaving a lasting impact on future generations. However, recent efforts from states and cities aim to bridge this gap by introducing targeted initiatives that promote economic growth and wealth accumulation for Black communities. Understanding the Challenges Black households face significant barriers when it comes to building wealth: • Limited access to quality education : Educational institutions often fail to provide adequate resources and support, making it difficult for students to acquire knowledge and skills necessary for financial success. • Systemic racism and bias : Institutionalized racism perpetuates inequality in employment, housing, and credit opportunities, limiting ...

Helping Children Build Healthy Money Habits ============================================= As a parent, teaching your child about money management is one of the most valuable skills you can impart. A healthy relationship with finances sets them up for financial success and security throughout their lives. In this post, we'll explore ways to help children develop good money habits and provide tips on how TogetherBudget can support your family's financial goals. The Importance of Teaching Children About Money ------------------------------------------------ Teaching children about money is not just about saving or budgeting; it's about developing a mindset around finances. By introducing them to responsible money management at a young age, you're giving them the tools they need to navigate real-world financial situations with confidence. Here are some key aspects of teaching children about money: Saving : Encourage your child to save a portion of their allowance or earn...

Why Credit Cards Aren’t an Ideal Emergency Fund, and How to Build One Having a solid emergency fund in place can provide peace of mind and financial security during unexpected expenses or income disruptions. However, using credit cards as a means of building one is not the most ideal solution. In this article, we'll explore why credit cards aren't suitable for emergency funds and how you can build one effectively. Why Credit Cards Aren't an Ideal Emergency Fund Credit cards may seem like a convenient option to cover unexpected expenses, but they come with significant drawbacks when it comes to building an emergency fund: Interest charges : Carrying a balance on your credit card means incurring interest charges that can add up quickly, making it difficult to pay off the principal amount. Debt accumulation : Using credit cards for emergency funds can lead to debt accumulation and negatively impact your credit score. Lack of motivation : Relying on credit cards may discourage ...

Plan Your Finances for the Year Ahead in France As we step into a new year, it's essential to review and adjust our financial plans to ensure we're on track to meet our goals. In France, navigating personal finances can be complex due to various taxes, social security contributions, and other obligations. To make informed decisions, you'll need to consider several factors, including your income, expenses, debts, and savings. Understanding Your Finances in France Before planning for the year ahead, it's crucial to have a clear understanding of your financial situation. This involves: Knowing your income: Take into account your salary, any side hustles or investments, and benefits such as health insurance. Tracking expenses: Monitor your daily spending habits, including fixed costs like rent, utilities, and groceries. Managing debts: Prioritize paying off high-interest loans or credit cards while making minimum payments on other debts. Building an emergency fund: Aim to s...

5 Key Signs Your Emergency Fund Is Too Small for the Trump Economy The current economic climate, often referred to as the "Trump economy," has brought about significant changes in the way people think about and manage their finances. With rising inflation, interest rates, and a shifting job market, it's essential to reassess your emergency fund to ensure it's adequate for the challenges ahead. Here are five key signs that your emergency fund may be too small for the Trump economy: 1. Inadequate Savings Rate A general rule of thumb is to save at least three to six months' worth of living expenses in an easily accessible savings account. If you haven't achieved this goal, it's likely that your emergency fund is too small. Consider using a budgeting tool like TogetherBudget to track your income and expenses and identify areas where you can cut back on non-essential spending. By making adjustments to your spending habits and increasing your savings rate, you...

Staying Ahead of the Game: Navigating the UK and EU Asset Management Regulatory Outlook 2026 As we move closer to the end of 2025, investors in both the UK and EU are keeping a close eye on the impending regulatory changes that will shape the asset management landscape by 2026. The news is filled with discussions about what these new regulations might mean for individual investors like you. What's Changing? The regulatory outlook for asset management is set to undergo significant changes in both the UK and EU, affecting how funds are managed, marketed, and distributed. Some key areas of focus include: Environmental, Social, and Governance (ESG) considerations : The role of ESG factors in investment decisions will become increasingly important as regulators seek to promote more sustainable investing practices. Fiduciary duties : Fund managers will be expected to prioritize the interests of their investors above all else, ensuring that they make informed decisions about investments. ...