Top 10 Personal Finance Articles of the Month — May 2019
It’s time again for one of my favorite features here on Dyer News: a look at the top 10 personal finance articles of the month. To start things off, we take a look at some investing tips to help grow your money. Speaking of investing, after that we’ll dive into a few ways you can be preparing for a successful retirement. We’ll also assess the pros and cons of downsizing or “rightsizing” your home. Finally we’ll round things out with a look at how to find a better bank, the benefits of using a “spending ceiling,” and how timing your purchases to a certain month could save you money.
As usual, this month’s list includes a couple Dyer News Top 10 mainstays as well as a few first-timers. Without further ado, below is my list of the top 10 personal finance articles published in May of 2019, along with their title, author, and the site they originally appeared on.
Become a Superstar Investor: 6 Basic Steps on How to Invest Your Money (The Smart Way) — Dale, My Best Friend the Money Guy
By now you probably have heard that it’s not enough to merely save your money — you need to invest it. Of course that proposition can often be intimidating to people who may not have any idea where to start. That’s why Dale lays our some of the basics of investing and walks through a few steps you should take beforehand.
7 Reasons You Need to Consider Index Fund Investing Today — Todd, Invested Wallet
There are clearly several different ways that one can invest your money, with each option bringing along its own pros and cons. For example, while some may want to try to beat the market to increase their gains, investors can end up paying heftily for funds that attempt to do that. Instead, as Todd writes, index fund investing may be a better route for many.
How Long Will My Money Last in Retirement? — Fred Leamnson, Money with a Purpose
When most people think of retirement, it’s a happy, relaxing, stress-free time. Unfortunately that can only be the case if you properly prepare and ensure you have enough money saved to last. With that in mind, Fred shares some tips to help you determine how long your money will last you once you reach retirement.
5 Steps to Get Your Retirement Savings on Track — Marc, Vital Dollar
As we just discussed, preparing for retirement is rarely a passive task. Instead you’ll need a clear plan to help you achieve a restful retirement — and you’ll need to stick to that plan. To help you out, Marc offers advice for how you can create a roadmap toward your retirement.
When (and When Not) to Max Out Your 401(k) — Just Start Investing
One of the most popular retirement savings/investing tools is the 401(k). With their comparatively high annual contribution limits, it may seem like maxing out your 401(k) is a goal you should meet whenever possible. In actuality, Just Start Investing notes a few exceptions to this rule and what other goals might take precedent.
Downsizing Your Home
Pros and Cons of Downsizing Your Home —
Everybody wants a big house. After all, who doesn’t love having some extra room? While having a large home may be worth it for some, others may actually see the benefit in downsizing instead. But, as Principal FI discusses, the decision may not be so simple as there can be pros and cons to downsizing your home.
Rightsize Your House If You Want To Increase Your Wealth — Mad Money Monster
Speaking of downsizing, what if you don’t already own a home of your own? It turns out you may actually have an advantage as you’ll be able to consider what type of home fits your needs now and potentially avoid the trap of buying too large. As Mad Money Monster notes, “rightsizing” your home from the start can be a great way to increase your wealth as there are hidden costs that can come with bigger abodes.
Personal Finance Tips
Save Money on Bank Fees with These Online-Only Banks —Kyle Burbank, Money@30
It seems that most Americans have a love-hate relationship with banks these days. Despite big banks being famous for their high fees and low paid interest, all too many of us put up with these realities because we think we have to. For that reason, Kyle offers a better way as he details some of the online-only banks he personally uses to avoid fees and earn more on his money.
My Best Budgeting Tip: The Spending Ceiling — Robbie Wesco, Eat Money
Contrary to popular belief, there is no one budget style or rule that works for every single person. Instead, individuals may find that certain techniques fit their needs much better than the standard, allowing them to truly master their money. If you’re looking for a new budget idea, Robbie shares the benefits of “the spending ceiling” method.
The Best Time of Year to Buy Many Items — Andrea Joy, Saving Joyfully
Going shopping? Did you know that the time of year you purchase certain items could make a significant difference in the amount you end up paying? To help you save money year round, Andrea highlights some of the best times to buy certain products.
Thanks for checking out my top 10 personal finance articles published last month and congratulations to all of the bloggers who made the list. To find more of these great articles on a daily basis, be sure to follow me on Twitter @jondyer9 and of course visit DyerNews.com.