Together Budget

WT Workshop to Offer Students, Others Key Financial Advice As a college student or young adult navigating the world of personal finance, it can be overwhelming to manage expenses, save money, and make smart financial decisions. But what if you had access to expert advice and tools to help you achieve your financial goals? West Texas A&M University is offering just that – a workshop designed to provide students and others with key financial advice and guidance. This timely event highlights the importance of personal finance education and planning for the future. Why Financial Literacy Matters In today's economy, it's essential to have a solid understanding of personal finance principles. Without proper knowledge, you may find yourself struggling to make ends meet, accumulating debt, or missing out on financial opportunities. Some key areas where students and young adults often need improvement include: Budgeting : Creating and sticking to a budget can be challenging, especia...

Welcome to the United States of Side Hustles The Rise of the Gig Economy and its Impact on Personal Finance In recent years, the concept of a traditional 9-to-5 job has become less relevant. The gig economy, where individuals work on a freelance or contract basis, has taken center stage. According to various reports, more Americans are turning to side hustles to supplement their income, pay off debt, and achieve financial stability. Why Side Hustles Are Becoming the New Normal Increased financial stress : With living costs rising and wages stagnant, people are looking for ways to make ends meet. Pursuing passions : Many individuals are using side hustles as a means to monetize their hobbies or interests. Flexibility and autonomy : Side hustles offer the freedom to work on one's own terms, which is particularly appealing in today's fast-paced world. The Challenges of Managing Multiple Income Streams While side hustles can provide financial benefits, they also introduce new...

Ivy League Schools Revamping Their Investment Strategies: What Does This Mean for You? The recent news that Ivy League schools are revamping their investment strategies may seem like a story unrelated to your personal finances. However, this development has significant implications for anyone concerned about investing wisely and achieving long-term financial goals. Why Are Ivy League Schools Changing Their Approach? The Ivy League schools, which include some of the most prestigious institutions in the world, have been adjusting their investment strategies to prioritize sustainability and socially responsible investments. This shift is driven by a growing awareness that traditional investment approaches can have unintended consequences on the environment and society. What Does This Mean for Investors Like You? While the Ivy League schools' changes may seem like a distant concern, they reflect broader trends in the investment world. As investors become increasingly aware of the impac...

Are Men or Women Better at Saving Money? When it comes to personal finance, it's no secret that saving money is a top priority for many of us. But have you ever wondered if there's a difference between men and women when it comes to saving? Do one gender group excel in this area more than the others? What the Data Says According to recent studies, the answer might surprise you. It seems that women are actually better at saving money than men. Here are some key findings: Women tend to be more conservative with their finances and are more likely to prioritize saving over spending. Men, on the other hand, often prioritize short-term gains and may be more willing to take risks with their investments. Women also tend to be more responsible with household finances, taking charge of budgeting and planning. Why the Difference? There could be several reasons why women are better at saving money than men. Some possible explanations include: Women often have a longer-term perspective on f...

Retirement Planning: 5 Mistakes to Avoid in the Next 5 Years Are you nearing retirement age and want to ensure a comfortable and financially secure post-work life? As a financial planner, I've seen many individuals make costly mistakes that can put their retirement plans at risk. In this article, we'll explore five common pitfalls to avoid in the next five years before you retire. 1. Not Reviewing Your Retirement Goals Before we dive into specific mistakes, it's essential to assess your retirement goals and ensure they're aligned with your current financial situation. Ask yourself: What do I want to achieve in my retirement? How much income will I need to maintain my desired lifestyle? Have I considered inflation, healthcare costs, and other expenses? TogetherBudget can help you create a comprehensive budget that accounts for your retirement goals and expenses. By tracking your income and expenses, you'll have a clear picture of where you stand financially and can ...

5 Mistakes to Avoid in the 5 Years Before You Retire As you approach retirement age, it's essential to be mindful of your financial decisions. Making mistakes can have significant consequences on your post-work life, and correcting them may be challenging or even impossible. In this article, we'll explore five common errors to avoid during the five years leading up to retirement. 1. Not Adjusting Your Retirement Savings Rate Retirement savings is a long-term process that requires consistent effort. However, many people fail to adjust their savings rate as they approach retirement age. This can lead to inadequate funds for the golden years. Solution: Regularly review and update your budget with TogetherBudget to ensure you're saving enough for retirement. Consider increasing your contributions or exploring alternative income sources, such as a side hustle or rental properties. 2. Failing to Assess Your Retirement Goals Before retiring, it's crucial to understand what y...