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September 15, 2024
By
The Admiral Staff
The article emphasizes that budgets rarely align perfectly with actual spending. To effectively manage money, it’s crucial to regularly compare budgeted amounts with what was actually spent, identifying areas of overspending and underspending. This process allows for adjustments to unrealistic budgets, helps catch errors in billing, and provides an opportunity to strategically allocate surplus funds toward financial goals instead of frivolous purchases.
September 15, 2024
By
The Admiral Staff
This article outlines an 18-day challenge designed to help people pay off credit card debt. It begins by suggesting users apply for a low-interest personal loan through AmOne to consolidate debt. Subsequent days involve steps like assessing debt with Credit Sesame, earning extra money through apps like Bingo Cash and Survey Junkie, canceling car insurance via EverQuote, and utilizing price-tracking tools. The challenge also includes a week-long “no spend” period and encourages users to earn money playing games like
September 10, 2024
By
The Admiral Staff
The article suggests the “four-gift rule” as a strategy to reduce holiday spending stress while still creating a magical Christmas for children. The rule involves buying each child: something they want, something they need, something to wear, and something to read. The article also suggests adding a bonus gift from Santa if the budget allows. It provides several ways to earn extra money to fund the holidays, including surveys, online tasks, and app testing.
September 10, 2024
By
The Admiral Staff
The article explores options for getting financial advice without breaking the bank. While working with a certified financial planner can cost hundreds or thousands of dollars, there are several free or low-cost alternatives, including using budgeting apps, working with a credit counselor (often free initial consultations), attending community classes, seeking financial counseling (around $75/hour), participating in Financial Planning Day events (free), or hiring a financial planner for specific, à la carte services.
September 8, 2024
By
The Admiral Staff
Cashing in a life insurance policy, particularly universal or whole life policies which accrue cash value, can be tempting but requires careful consideration. Before doing so, understand policy limitations, potential tax implications (some proceeds are taxable), and the impact on beneficiaries who rely on the death benefit. Surrender fees, which decrease over time, can also significantly reduce the payout. Alternatives to cashing out include borrowing against the policy’s value, borrowing from other assets like a 401(k) or
