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Yahoo
10-08-2025
- Business
- Yahoo
Rachel Cruze's Midyear Money Reset
Spring cleaning gets all the attention, according to finance expert Rachel Cruze, but in a recent video, she proposed another seasonal habit worth adopting: 'a fall reset.' Find Out: Read Next: Of course, Cruze isn't talking about organizing your closets. This reset is largely financial, though it can apply to any area of your life. With kids heading back to school and the holiday season on the horizon, she said it's the perfect time for a 'fresh start' before year's end. It's also a chance to clean up any bad habits picked up over the summer or to reset goals you may have drifted away from earlier in the year. Here's how Cruze recommended going about it. Get Back on Budget Cruze is the first to admit that everyone falls off their goals and budget plans, herself included. But, she emphasized, 'Getting back on track and knowing where your paycheck is going [will] help you so much.' In a time when high prices are sticking around and tariff-driven cost increases are showing up, staying on top of your spending is even more essential. 'I firmly believe that budgeting is one of the non-negotiables when it comes to winning with money. So that needs to be a part of your plan,' she said. Cruze prefers using the EveryDollar budgeting app, but ultimately, the best tool is the one you'll actually use. Check Out: Review What's Changed Part of the reset involves reviewing your budget with fresh eyes to identify patterns that have been 'consistent for months and months and months.' Cleaning up even a few bad spending habits, she said, not only saves money but feels good because you're back in control. Reevaluate Your Budget Needs Don't just revert to your old budget — things may have changed since you last looked. Cruze recommended reevaluating big goals for saving, spending and investing to ensure they're still realistic. If you overshot, now is a great time to recalibrate. 'So, if last January you set out to save $1,000 a month, but are only saving half of that, you adjust your goal so that you know it can be achieved,' she said. 'Change some things, [but] be realistic about it, because we're halfway through the year.' Clear Your Data Another surprising way to reset? Remove your personal data from the internet. Cruze recommended using a service like Delete Me to wipe your information from sketchy data broker sites. She warned that your personal info is basically 'like a billboard with your name, your address, your email, even your kids' names … on sketchy data broker websites.' These companies sell your data for money and increase your risk for scams and fraud. Plan for Remaining Expenses Cruze also suggested planning ahead for all the remaining expenses in the year, especially those that creep up fast. Think: back-to-school shopping, Labor Day trips or parties and the long stretch of holidays from Halloween to New Year's Eve. 'The last half of the year just flies,' she warned. She said, ask yourself: 'What are line items [I] need to add to the budget so that we can be saving month after month to prepare for these things?' Re-Engage Routines Lastly, Cruze advised reengaging with routines that may have slipped during summer, whether that's bedtimes, screen time or impulse spending. For her own family, one habit that often falls by the wayside is meal planning. They end up ordering pizza instead of making something more affordable, she admitted. Getting back into routines, she said, sets you up to make better decisions with your money and your time. More From GOBankingRates 5 Old Navy Items Retirees Need To Buy Ahead of Fall 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives This article originally appeared on Rachel Cruze's Midyear Money Reset
Yahoo
16-07-2025
- Business
- Yahoo
How to budget when everything is temporary
Military life makes creating a budget really weird. You're working with fixed income and shifting costs, tax-free benefits, surprise expenses, base access, and blackout dates. You get paid on the 1st and 15th like clockwork—but nothing else feels predictable. And yet, some spouses manage to stay on top of it. Not because they have spreadsheets for fun (although some do), but because they've learned how to build flexible, resilient budgets that can survive the reality of military life. Here's what they've figured out and what can help you do the same. The biggest mistake people make is building a fixed, 'ideal life' budget and then expecting it to hold. It won't. Military paychecks are stable, but military life is not. Start with a core budget—rent, food, gas, and bills—and then build flex zones around items like seasonal expenses, short-term travel, school supplies, or kids' sports. You don't need to forecast the entire year. Just plan for what shifts quarter to quarter. Apps like YNAB (You Need a Budget) and EveryDollar are spouse favorites because they make it easy to reassign funds when life changes without disrupting the entire budget structure. Use whatever works for your brain but build something you can actually update—not just admire once and forget about. Yes, it's full of acronyms. Yes, it looks like a tax form and a riddle had a baby. But your spouse's Leave and Earnings Statement (LES) is where the money lives, and it's not optional. Spouses who stay ahead of their finances know how to read the LES. They check it every month—not just for pay accuracy, but also for changes in allowances, such as BAH (Basic Allowance for Housing) and BAS (Basic Allowance for Subsistence), as well as any deductions or entitlements that shouldn't be there. Print one out. Google each line. Highlight what you don't understand and ask someone who does. This isn't extra credit—it's how you avoid getting underpaid for six months without realizing it. Set bills, savings, and recurring donations to auto-draft on the 1st or 2nd of the month. That way, you're working with a clear picture of what's actually available after the essentials are covered. Then, calendar everything else. Birthdays. Travel. PCS window. Your kid's activity fees that somehow always land the same month as car registration. Budgeting is less about the money and more about awareness. Knowing when an expense hits can make or break your month, even if you technically 'have the funds.' Use Google Calendar. Use sticky notes. Just don't rely on memory. Your brain is already carrying too much. Build a category into your budget called 'margin' or 'oh no' and give it real money. This isn't emergency savings (that's separate). This is for the week your tire blows and your kid's shoes don't fit and your spouse forgets they signed up to bring snacks to something that now requires 80 juice boxes. The number will vary. Some families can swing $200 a month. Some can only do $20. What matters is that it's there, it's yours, and it keeps you from spiraling into panic every time life throws a punch. Tracking expenses sounds miserable, but it's not about judgment. It's about awareness. Use one month to write down everything. No censoring. That $9 coffee? Count it. The five Amazon orders that were each 'only $20'? Add them up. Then, without guilt, look at where your money goes. You're not trying to shame yourself into change. You're trying to see where your default settings are and decide whether they're working. Most spouses who've mastered budgeting didn't get there by being perfect. They just got really honest. It's going to feel awkward for a while, but once you're really clear on where the money is going, you'll understand where you can trim. If you want support beyond apps and best guesses, use your access. Military OneSource offers free financial counseling with real humans who understand how military pay works. So do your base's Personal Financial Readiness Program and most Fleet and Family Support Centers or Army Community Service centers. These aren't judgmental. They're not selling you anything. And you don't have to be in crisis to use them. Sometimes the smartest budgeting move is asking someone to help you make a plan that fits your actual life. Bottom line: Budgeting won't fix the system, but it will protect your peace Military salaries are fixed. The rest of your life isn't. Creating a budget that actually works means planning for what shifts, leaving room for what breaks, and being real about what you need. You're not bad with money. You're just navigating a life that's built on uncertainty. But you can build stability anyway, one calendar alert, one tracked receipt, one adjustment at a time. We Are The Mighty is a celebration of military service, with a mission to entertain, inform, and inspire those who serve and those who support them. We are made by and for current service members, veterans, spouses, family members, and civilians who want to be part of this community. Keep up with the best in military culture and entertainment: subscribe to the We Are The Mighty newsletter. These military spouses were unsung heroes of American history 4 milspouse personas you'll meet during deployment 9 Incredible day trips from Stuttgart, Germany for any military family
Yahoo
12-06-2025
- Business
- Yahoo
Rachel Cruze: 4 Things That Keep You Broke Regardless of Salary
The Northwestern Mutual 2025 Planning & Progress Study found that 52% of Americans had household incomes that weren't growing enough to keep up with inflation, which was also the top financial concern reported. Discover More: Consider This: But even if you earn a high enough salary to comfortably handle rising prices, that doesn't mean you'll make good decisions that build wealth. In a recent video, money expert Rachel Cruze discussed four habits that keep you broke regardless of what you make and gave tips on how to stop them. 'If you're continuing to live a lifestyle that your income cannot support, you're going to either be in the hole, or you're going to be draining your savings if you have it,' Cruze said. Sometimes, this happens if you experience an income reduction and refuse to downgrade your lifestyle accordingly. However, living beyond your means can also become a habit at any income level, especially when you're not sure how much money you're making and how you're using it. To stop making this mistake, look at your income and all expenses so you can create a realistic budget you'll stick to. While you're at it, see how you can make more money and where you can cut expenses. Any budgeting spreadsheet or app will work, though Cruze recommended the EveryDollar app. Find Out: Northwestern Mutual's study showed that the average American had $21,500 in non-mortgage personal debt in 2025, with credit cards, car loans and medical debt topping the list. Cruze explained that debt and monthly payments seem normal to many people, so they get used to regularly handing over their income to banks and lenders. This can leave you broke, especially if your debt payments are high. Plus, it leaves you with less money to invest and grow wealth. Cruze recommended prioritizing paying your debts off from the smallest to the largest balance with the debt snowball method. You can use the Ramsey Solutions debt snowball calculator to better understand how the debt is impacting your finances and see when you might become debt-free. Then, you can invest the money you're no longer paying and start getting a return. According to the Bureau of Economic Analysis, Americans were saving about 4.9% of their personal disposable income in April 2025. However, many people still lack basic emergency savings and are left borrowing money or facing difficult choices if something unexpected happens. Cruze suggested making saving a habit by starting with a $1,000 emergency fund and increasing that balance to three to six months of your usual expenses after you've paid off your debt. She also said to put 15% of your pay in a retirement account, which will make a big difference in building wealth. For example, if you're making $50,000 per year, you'd contribute $625 per month. If you keep up that habit for 30 years and get a 7% return, your retirement account balance would be over $700,000 — and that's not even accounting for your likely pay increases over those years. Whether you consider yourself poor or wealthy, you might fall into the trap of constantly wanting to buy fancy things, have amazing experiences and impress people. Depending on your financial situation, you might drain your savings to pay for these things or dig yourself into debt. According to Cruze, wanting to enjoy nice things and experiences isn't necessarily wrong. However, you should practice contentment, not obsess over comparison and save up for the things you want. 'But if your whole life's goal is to constantly be in this wheel of just buying the next greatest thing and just trying to be like everyone else, you are going to be a rat in a wheel for the rest of your life, so don't do that,' she added. More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 Warren Buffett: 10 Things Poor People Waste Money On These 10 Used Cars Will Last Longer Than an Average New Vehicle This article originally appeared on Rachel Cruze: 4 Things That Keep You Broke Regardless of Salary Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
Dave Ramsey Gets Mad At Caller With $200K Income Who Says They Can't Afford His Budgeting App—'Darling, It's $9, So Bull Crap'
A recent episode of 'The Ramsey Show' featured a tense exchange between personal finance personality Dave Ramsey and a caller who claimed she and her husband couldn't afford his budgeting app despite making $200,000 a year. Ramsey let his frustration show immediately. The caller, Natalie, explained that she and her husband had bought a house they weren't financially prepared for. Despite their six-figure income, they were drowning in debt and falling behind every month. 'We basically have to choose what we have to default on,' she said. 'We're in the red almost every month.' Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Ramsey quickly asked for the numbers. The couple's regular mortgage payment is $2,800, sometimes spiking to $3,500 during catch-up months. On top of that, they owe $44,000 in home repair loans, $25,000 in credit card debt, $29,000 on two cars, and a $99,000 home equity loan. After learning that, Ramsey was stunned they still insisted they couldn't budget properly. 'You got enough money to pay these bills if you're making $20,000 a month,' he said, frustrated. The caller responded that she had signed up for Ramsey's EveryDollar budgeting app but couldn't afford the premium version. Ramsey snapped back: 'Darling, it's $9, so bull crap. If you make $200,000 a year, you can't afford not to pay the premium on that.' Trending: Invest where it hurts — and help millions heal:. Ramsey stressed that the problem wasn't income or even the app cost—it was a lack of control. 'You got on the call and you don't even know how much debt you have,' Ramsey said. 'When you're this screwed, you need to know exactly where you are at all times until it goes away.' They advised Natalie and her husband to sell the house immediately. Ramsey pointed out that most of their non-mortgage debt was connected to the home: 'Home Depot must love you people,' he said. 'This house is eating you alive.' Co-host Ken Coleman added, 'You've just been fighting the waves of life that you've created.' Ramsey also pushed back against the cultural pressure to buy homes at any cost. 'Broke people shouldn't buy houses,' he said. 'It makes you broker and broker. That's why they call them brokers.' He continued, 'You ought to get your butt out of debt. You ought to have some savings, have a good emergency fund, a good strong down payment, have control of your money like an adult and only then is a home a blessing.'Coleman closed by warning that selling the house would only be a temporary fix if the couple didn't change their mindset. 'You guys have to fix whatever's going on inside of you that's making you long to make these dumb decisions.' Ramsey echoed that sentiment, pointing out that many people confuse a high 'cost of living' with inflated lifestyles. 'Lifestyle is eating out, lifestyle is a car that everybody looks at at the stoplight for all the right reasons. That's a lifestyle.' Ramsey's message was straightforward: No app or income level can fix money problems caused by disorganization and denial. Read Next: Many are using retirement income calculators to check if they're on pace — Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Dave Ramsey Gets Mad At Caller With $200K Income Who Says They Can't Afford His Budgeting App—'Darling, It's $9, So Bull Crap' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
28-04-2025
- Business
- Yahoo
Americans Are Concerned That the Prices of These 6 Things Will Go Up — 6 Best Ways To Save
A new survey from Clever Real Estate found that the majority of Americans are worried about rising prices, and they're expecting things to get even worse later this year. Of those surveyed, 95% said they're concerned about rising costs in 2025, and 74% believe inflation will continue to get worse. But the good news is that there are still ways to stretch your dollars and save money, even when it feels like everything's getting more expensive. Check Out: Be Aware: Here's a quick breakdown of what people are most stressed about and what you can do to protect your finances. According to the survey, here's what most Americans are most worried about when it comes to price increases: Grocery and food prices: 84% Gasoline and energy costs: 69% Car prices: 65% Household good costs: 63% Restaurant and dining costs: 63% Healthcare and medical expenses: 60%. Read Next: Though you can't necessarily control inflation or what Congress does next, you can take these steps to keep your finances under control. Having a budget can help you understand exactly where your money is going and where you can make some adjustments. So if you haven't already, start by listing your monthly income and categorizing your expenses. To make your life easier, consider using a budgeting app, like YNAB and EveryDollar, or spreadsheets to track your spending in real time. Once you have a budget in place, it'll much easier to identify unnecessary expenses and redirect funds toward savings or debt repayment. Cooking your own meals at home is the most straightforward way to cut down on food-related expenses. Even replacing a few takeout meals a week with home-cooked alternatives can help you save a good chunk of change, considering how expensive food delivery services can be. And if you're worried about spending too much on groceries, try buying store-brand items whenever possible or buying in bulk. Recurring monthly charges, like Spotify and Netflix subscriptions, can quickly drain your wallet if you aren't careful. Take time to review your bank or credit card statements to identify subscriptions you no longer use or need. Even cutting a few subscriptions can free up $50 or more each month for higher-priority expenses. You can reduce your energy bills by making simple changes, like switching to energy-efficient LED bulbs, unplugging electronics when you're not using them, sealing drafts around windows and doors, and using programmable thermostats. Some utility companies offer free home energy audits to help you understand your home's energy consumption and identify additional savings opportunities. An emergency fund acts as a financial buffer against unexpected costs such as medical bills, car repairs or temporary job loss. Though many financial experts suggest saving three to six months' worth of living expenses, starting small is perfectly fine. Even setting aside $100 can give you some peace of mind. Just make sure to keep your savings in a high-yield account that's easy to access but separate from your main checking account to avoid dipping into it. Increasing your income is just as important as cutting back on spending, especially when prices keep climbing. If you have some free time on your hands, look into ways to bring in extra cash that match your skills or interests. For example, try out freelance writing, tutoring, pet sitting or selling things you no longer use on eBay. You could then put that extra cash you earn into savings, paying down debt or covering other expenses. More From GOBankingRates 5 Luxury Cars That Will Have Massive Price Drops in Spring 2025 4 Things You Should Do if You Want To Retire Early 10 Genius Things Warren Buffett Says To Do With Your Money The New Retirement Problem Boomers Are Facing Sources Clever Real Estate, 'Consumer Sentiment in 2025: Strong Concerns Over Inflation, Tariffs, Government Cuts.' This article originally appeared on Americans Are Concerned That the Prices of These 6 Things Will Go Up — 6 Best Ways To Save
