I’m 59. Should I Use My 401(k) to Pay Down Debt?

Linda Raymond/Getty Images Dear Penny, I am 59, divorced, and have about $20,000 in student loans and $8,000 in credit card debt. My only savings is a very small 401(k) with $17,000 from a job I...

How to Organize Your Finances in 7 Simple Steps

Not all of us are born to be organizational wizards, okay? Not all of us keep everything neatly filed or color-coded or alphabetized or prioritized or sorted into nice, neat, separate boxes. We’re just...

How to Tell if a Balance Transfer Credit Card Is Right for You

Balance transfer, balance shmansfer. It sounds about as exciting as that pile of dirty clothes on the floor you’ve strategically been avoiding. You’d free up so much extra space and stop tripping over them if...

Should We Save or Pay Off Debt Before Buying a Home?

Tina Russell/The Penny Hoarder Dear Penny, After six years of renting, my husband and I are hoping to buy a house within the next year. But even though we both work full time and have...

How to Save Money at Publix — With One Free App

Tina Russell/The Penny Hoarder Publix is my happy place. When I was a kid, I lived for those free cookies. Sometimes an employee would even tie a balloon to my wrist, and it would make...

How a Community College Transfer Could Save You $12K

We found a way to shave more than $12,000 off your college bill. And it’s as easy as 2+2. That’s the name of the strategy in which a student spends their first two years earning an...

This Is One of the Highest-Interest Checking Accounts We’ve Ever Seen

Alex Potemkin/Getty Images If you bank at a traditional brick-and-mortar bank, your money probably isn’t growing there. That’s because traditional banks — with their thousands and thousands of physical locations — typically offer annual percentage...

This Guy Shows Us How to Raise a Credit Score Without a Full-Time Job

Deaf since birth, Daryl Hajek earns a living by juggling half a dozen odd jobs. He’s always got a bunch of different gigs going to make enough money to live. He works, writes and...

Wondering How to Save Money on a Wedding? Check Out These 90 Tips

“You’re getting married! That’s so exciting. When’s the big day? How many attendants will you have? What kind of flowers are you going to carry? DJ or band?” As soon as you have a ring...

How to Find The Best Option

You’ve decided you need to take out a personal loan. Maybe you’re consolidating credit card debt, investing in home renovations or starting a small business. But you’re still not sure how to go about finding...

12 Simple Money Management Tips You Can Start Today

2. Boost Your Income Passively Heather Comparetto/The Penny Hoarder How many streams of income do you have? Don’t fret if it solely comes from your job. When you and your money are ready, consider what...

What Is Renters Insurance? An Ultimate Guide to Finding a Policy

South_agency/Getty Images When you rent rather than own your home, your landlord most likely has insurance on the property. But that insurance won’t cover anything beyond the physical building if disaster strikes, leaving you...

Learn How to Stop Living Paycheck to Paycheck in 9 Steps

The paycheck-to-paycheck cycle is an easy one to fall into — and a hard one to break. One of the best ways to tackle it to the cold, hard ground is to take it...

These 8 Strategies Will Help You Pay Down Credit Card Debt When You Retire

Ah, retirement. Lazy days in the hammock, bucket list trips to Europe, leisurely drives in your sports car. Wait, you’ve spent more time jettisoning ideas than planning jet-setting excursions? Despite your best savings efforts — and...

Do Americans Blow $18K a Year on Frivolous Spending?

Your latest hate-click was likely brought to you by USA Today, which recently highlighted a survey that says you spend $18,000 on “nonessentials” — including way too much on lunch. The article, which was promptly...

Trade Stocks for Free With SoFi Investing (Perfect For Beginners)

Kondoros Eva Katalin/Getty Images We all have that friend. The one who’s constantly checking the stock market like it’s a game and mumbling things like, “Ugh, I should’ve traded that yesterday!” You roll your eyes,...

Build a Financial Life Raft by Setting Up a Sinking Fund

When Nora Martin was expecting her first child, she wasn’t going to let all the many baby costs bring her down. She had a plan. “I pretty much wrote up everything that we needed …...

Here’s How Living in a Tiny House Saves This Family $3,600/Year

Editor’s note: This post was originally published in 2017 and has been updated. Several years ago, Andrew and Gabriella Morrison and their two kids lived in a 2,200-square-foot house in Ashland, Oregon. Andrew describes it as...

11 Budgeting Tips for Recent College Grads to Master Adulting

College graduation marks the beginning of what adulting truly looks like. Bye bye, student discounts. Hello, full-priced everything. You had guidance from professors, support from your parents and the camaraderie of your fellow students in...

How to File Taxes: Our Complete Guide

We’re not going to pretend that taxes are fun. That paying them is fun. That filing them is fun. That anything remotely related to them is fun. So, taxes are a drag. Got it. But...

Here’s How to Start Investing, Even if You Only Have $5

We’ve all heard the old “make your money work for you” adage, right? That means taking basic Finance 101 steps — like investing. Sounds great. But who has that kind of money just lying around?...

A 9-Step Guide for the First-Time Buyer

Housing prices are on the rise with no signs of slowing down. Since 2011, single-family home prices have climbed 42%. That means a house that cost $200,000 eight years ago would now cost $284,000....

Mother’s Day Spending is Set to Hit Another Record in 2019

Mother’s Day is right around the corner. Have you purchased a gift for your mom yet? From flowers and perfume to manicures and meals, Americans plan to spend a bunch to spoil the special ladies...

The Pros and Cons of Having Multiple Savings Accounts

Saving money is not a singular pursuit. Take a minute to think about everything you’re saving for. A down payment on a home. Cash for that overseas vacation. Funds to tap in case an emergency...

Scared to Invest? How to Start With $5

Miodrag Gajic/Getty Images Do you invest? If you’re a young person, chances are, probably not. Only 37% of Americans under the age of 35 are investing in the stock market, according to a 2018 Gallup poll....

Worried About Paying for Summer Camp? Try This Fun, Affordable Alternative

Summer camp doesn’t come cheap. Parents can end up doling out thousands of dollars to occupy their children’s time while school is out. However, some families find a financial break in organizing their own summer...

What You Should Know If You’re Considering Credit Counseling

When you’re struggling with debt, it can be hard to determine the best method for getting rid of it. Snowball? Avalanche? Consolidation? Should you freeze your credit card in a block of ice, or...

Overwhelmed by Debt? Here’s What Happens If You Seek Credit Counseling

When you’re struggling with debt, it can be hard to determine the best method for getting rid of it. Snowball? Avalanche? Consolidation? Should you freeze your credit card in a block of ice, or...

This Family of 6 Pays $105/Month for Cell Service with Twigby

Jill Haus pays just $105 per month, before tax, for six cell phone lines from Twigby. Photo courtesy of Jill Haus. Jill Haus has four kids between the ages of 12 and 18. “It’s a...

Did Paying Off Car Loan Early Hurt My Credit Score?

oleh slobodeniuk/Getty Images Dear Penny, I paid off my car loan a few payments early, and then my credit score went down 79 points. Why did this happen? How long will it take to recover?...

HealthIQ Saves Active People up to 33% on Life Insurance

Do you have a healthy, active lifestyle? Do you eat right and exercise? That’s great, because you’ll almost certainly live longer. But if that’s the case, why should you pay the same price for life...

FDCPA Updates Could Mean Texts and Emails From Debt Collectors

Tired of debt collectors’ harassing calls? Their newest tactics could involve pestering you through texts and emails — maybe even on Facebook. If a recently proposed update to the Fair Debt Collection Practices Act (FDCPA)...

13 Tips to Stop Impulse Buying and Keep More Money in Your Wallet

Your day starts innocently enough. You normally brew a cup of coffee at home, but you’re running late. So you swing by Starbucks for a $5 morning pick-me-up. After a tiresome day at work, you stop...

13 Tips to Crack Down on Impulse Shopping. Your Budget Will Thank You

Your day starts innocently enough. You normally brew a cup of coffee at home, but you’re running late. So you swing by Starbucks for a $5 morning pick-me-up. After a tiresome day at work, you stop...

Buying These 5 Reusable Products Can Help Save Money Over Time

Carmen Mandato/The Penny Hoarder Saving the planet doesn’t always come cheap. Many of the disposable products we often use are easy to find at low prices, making them seem preferable to their reusable counterparts. But the...

How to Get Free YMCA Swim Lessons for Your Kids

YMCAs throughout the country are offering free swim lessons as part of their Safety Around Water program. Photo courtesy of the YMCA Summer and swim lessons: They go hand-in-hand. As soon as school is...

What Is a Roth IRA? We’ve Got All the Pros and Cons

If you’re confused when it comes to retirement savings, it’s OK. We’re going to talk about Roth IRAs, how they compare with other retirement accounts and how you can decide if a Roth IRA...

3 Women Shared Their Best Bullet Journal Budget Ideas With Us

Keep it simple. That’s the consensus when it comes to starting a bullet journal for your budget. Forget the flowers, skip the swirls and just track your expenses and goals in a format that is easy...

Here’s How a Debt Validation Letter Can Help Save You From a Scam

Don’t fear the ring. Debt collector calls can be scary and intimidating — the callers are trained to convince you to pay off your debt as quickly as possible. But what if you’re unsure of...

How a Debt Verification Letter Protects You From Errors and Scams

Debt might be scary, but debt collectors can be downright terrifying. Those aggressive phone calls, the letters suggesting that you could go to jail — it’s the stuff of nightmares. But wait, what if the debt...
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