Beanie Books

Savings accounts : Here are some of the different accounts that you can open to save money. Standard : The tried-and-true. This is the type of savings account most Americans have. Some have zero or low minimums. Do this if…you’re starting out and don’t have a lot of money to put into the account. Interest rates are low on standard accounts. Don't leave too much here, though...just enough to cover an emergency. You are just costing yourself a lot of money in lost interest.  CD : This is a certificate of deposit. Banks often let you open a special kind of account with better rates than you would get in a regular savings account. But you have to keep your hands off that money for a certain amount of time (usually a few months up to a few years). Do this if…you won’t need to access that money for the period, and you want a “can’t touch this” way for your cash to earn interest. High-yield savings account : An account where you put more in and get more back. The interest rates are ...

Manage Money Stress It’s normal to be worried about money right now. But there are some positives. Think of the money you’re saving by staying home more often (less driving, fewer meals out). Find creative ways to save more. A lot of businesses are offering free or discounted deals. Take some time at home to go over your budget. Plan out your next few weeks to feel more secure. If you do not have a rainy day fund, the time to start is now. Try to have enough money to cover three to six months’ worth of essentials (these are the thing you need like rent and food) saved up. This fund will give you some cushion in case you lose your job or need to take on extra expenses.  Set a goal of having the equivalent of your annual salary saved up. This may seem pretty unrealistic but start small and see how that goes. Now, you should click here to read about budgeting .

Budgeting is the key to feeling financially secure. It may seem like common sense but here are four main steps to making a budget. Know your Income : Your gross income is how much your boss told you you’d make. Your  net income  is the money left over after deductions (things like income tax, Social Security, health insurance premiums, and your 401(k)). This is the amount deposited in your bank every pay period. Set Goals : Do you want to pay off a credit card? Save up for a trip to Australia? Save up for a home? Start with one big goal and write down the magic number that corresponds with it. Fixed expenses : Calculate your fixed, necessary monthly expenses. These are your “need it” expenses that stay fixed month-to-month. That includes rent, utilities, and transportation. Tracking : For a month, break down everything you spend that’s not a fixed expense. These are your “want it” expenses. That includes clothes and travel. Be specific so you know exactly where you’...

Verily I say unto ye..........   Money   It can buy a house   But not a home It can buy a clock   But not time It can buy you a position But not respect It can buy you a bed But not sleep It can buy you a book But not knowledge It can buy you medicine But not health It can buy you blood But not life So you see money isn't everything And it often causes pain and suffering I tell you this because I am your friend And as your friend I want to Take away your pain and suffering!! So Send me all your money And I will suffer for you! Cash only please! After all, what are friends for, huh??