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September 29, 2024
By
The Admiral Staff
The article highlights [FreeFinancialPlan.com](https://t.thepennyhoarder.com/aff_c?offer_id=7064&aff_id=2), an AI-powered tool created by a wealth-management executive, that provides free, personalized financial plans. Unlike traditional financial advisors, it’s accessible to everyone regardless of income and doesn’t require an email address or product sales. Users can expect a customized PDF plan within 10
September 26, 2024
By
The Admiral Staff
The cash envelope budgeting system, which restricts spending to pre-allocated amounts, can be adapted for a cashless world. Four alternatives include using gift cards for specific categories, utilizing envelope-based budgeting apps like Goodbudget, establishing separate bank accounts for different spending areas, or diligently tracking spending after each transaction with a manual ledger. These methods aim to maintain the core principles of the envelope system without physical cash.
September 19, 2024
By
The Admiral Staff
The article highlights the increasing prevalence of unmarried couples and the financial complexities they face due to the lack of legal protections afforded to married couples. Without marriage, navigating issues like asset division upon separation, Social Security benefits, and inheritance can be challenging. The article advises unmarried couples to proactively address these concerns through legal contracts like domestic partnership agreements, carefully structuring property ownership (favoring joint tenancy with rights of survivorship), updating beneficiary designations on accounts, and creating comprehensive estate planning documents including wills, healthcare proxies, and
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 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.
