Advice

Trump vs. Clinton: What Would Either Presidency Mean for Your Money?

Which major-party presidential candidate would be best for your bottom line? We can’t decide for you. But we have assembled a list of their essential positions on issues likely to hit you straight in the wallet. (And of course you’re encouraged to explore these positions yourself via links to the candidates’ policies.) Taxes Every political candidate tries to convince most voters that their taxes will go down—and someone or something else will pay for it. Democrats usually say the rich will pay; Republicans say an improved economy will. Both claim closing tax loopholes and eliminating waste can make up for any shortfall that might cause roads to not be rebuilt or essential programs to be cut. Hillary Clinton and Donald Trump are largely following this script. Clinton’s tax plans call…

Money Mistakes Wealthy People Don’t Make

Ever wondered how the uber-rich—the Warren Buffets and Mark Cubans of the world—live day to day? Sure, they may have some extravagant habits, but it’s highly likely they also follow the same key money rules that help them increase and protect their wealth. Even if you haven’t yet amassed a fortune of your own, you can benefit from doing the same. Here are five: They don’t spend everything they earn. “Most people make a living, spend what they feel they need to enjoy their lives and then dutifully save what is left. Unfortunately, that’s often little or nothing,” says Steve Martin, a Certified Financial Planner and senior managing director at BKD Wealth Advisors in Chicago. “Successful people, on the other hand, make a living and then first set aside the…

It’s Not Too Late for a Last-Minute (Affordable) Summer Getaway

When you’re faced with seemingly endless meetings, deadlines, and emails, something’s gotta give. For most of us, that thing is R&R. That may explain why so many Americans don’t use all their paid vacation days: If you’re feeling stretched at work, the thought of taking a break can sound nearly impossible. But the evidence is clear: Chugging away isn’t doing you (or your career) any favors. As it turns out, vacations can actually improve your job performance, rather than dragging you further behind, and even increase your likelihood of getting a raise or bonus. Not only that, but getting away can boost your emotional well-being, too. And with Labor Day fast approaching, now’s the perfect time to plan a last-minute getaway. Whether you want to party at the beach with…

Here’s Why It’s Taking So Long to Hit Your Money Goals

So you save some of your paycheck, contribute enough to get your company’s 401(k) match and wouldn’t dare miss a payment on your student loans. Nice. You’re on your way. But your journey might be longer—or harder—than it has to be. Because while smart steps like these will help you eventually reach your goals, there’s a good chance it’ll take longer than if you applied a little more strategy. Want to travel a less painful path toward wealth? Make sure you’re not committing these common (and well-intentioned) mistakes. You’re nickel-and-diming yourself. You calculate how much you’re spending on happy hours and Shake Shack, then ban them for the sake of your budget. Your head’s in the right place, but your strategy is misguided if you’re striving to save $15 a…

Run Your Finances Like a Boss

In business, the simplest measurement of success is profitability. And the math is easy, too: Revenue – Expenses = Profit. Although you may not have made the connection before, the same holds true for your personal finances. Any money you have leftover at the end of the month or year, after expenses, is your personal profit. (This includes your savings and investments, by the way.) But really successful business leaders aren’t just happy that their companies are profitable. They take steps to protect and multiply their profits—and you should, too. Just incorporate these four boss moves for managing your money. 1. Track your expenses, then slash them. Operational expenses, from rent to payroll and taxes, take a big chunk out of a company’s profit. So it stands to reason that the…

“The only way to lose money over time in the stock market is to get out of the game.”