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father and daughter painting a wall in homje

How to Budget For Your Next Home Renovation

In 2020, Americans spent much more time than usual working, eating and entertaining themselves inside their homes. That’s due in no small part to the COVID-19 pandemic. One study by the U.S. Bureau of Labor Statistics found Americans spent 10 waking hours a day at home in 2020; in 2019 it was less than eight hours a day. That meant Americans also had more time to scrutinize their spaces — which has led to a serious home improvement boom. Spending for nearly every kind of home improvement and renovation project, from painting and other minor facelifts to a complete home renovation, grew nearly 3% to $420 billion in 2020, and it’s expected to grow another 4% by the end of 2021.

Posted in: home, improvement, loan, money, remodel, save

mother and daughter holding piggybank

What Age Can a Kid Have a Bank Account?

As a parent, you’re constantly teaching your kids all kinds of life lessons. For example, financial education: Kids pay attention when it comes to how you spend and save your money. And the lessons they’re learning now will influence how they handle money as they get older. Opening a bank account for your kids might be an ideal way to teach them about money management. But it’s important to determine the right age to open your child’s bank account. 
 

Posted in: education, financial, kids, management, money, saving

Our Favorite Free Online Courses for Financial Literacy

With the vast array of resources available online, many people are investing their time in self-development. While there are many valuable internet-based classes that charge a fee, we’ve outlined several free courses from reputable sources to help you become more financially savvy. Of course, you can also take advantage of free educational tools and tutorials on our website.

Posted in: Education, EVERFI, learning, management, money, Online, STEM, students

Questions to Ask When Opening a Savings Account

Opening a savings account can help you take control of your finances. You can use your account to save for a large purchase or to set up an emergency fund. Emergency funds can help you weather unforeseen occurrences. The common guideline is to save up to three to six months of your common expenses to take on any challenges that come your way. As you explore where to open a savings account, consider the following questions.

Posted in: account, balance, banking, fees, minimum, money, monthly, online, saving, savings

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