It is no secret that managing your finances while you are in college can be difficult. You spend most of your time going to school and likely only have a part time job. This difficulty that you have managing your finances can then increase quite a bit when you get married and begin having children because you are going to be spending more money. Thankfully, there are financial advisers out there than can help you to manage your finances in the best way possible.…
Chronic illness or disability is something that everyone likes to think will never happen to them. Unfortunately, chronic illness and disability are very real possibilities and it’s important — for your sake and your family’s — to plan for them as soon as possible. Below are three tips for financially planning for chronic illness or disability.
Start Building an Emergency Fund
Chronic illness can strike anyone — at any age — so whether you’re 19 or 59, you should have an emergency fund that can financially support you for at least 6 months.…
Do you have a child who has either physical or mental challenges? Are you worried about how you will pass financial support onto them after you pass away? Passing assets on to heirs can always be tricky, but it can be even more so when the beneficiary has physical or mental conditions that may limit their ability to manage the inheritance. Depending on your child’s condition, they may not have the ability to budget properly or they may be too trusting of other people.…
