Money Wisdom & Musings

This Earth Month, Green Century and Green America shared a few ways to make climate-conscious choices with your financial institutions.

What is mindful spending and why is it worth considering? Essentially, mindful spending is recognizing and digging into the “why” of your spending habits. The first step to this is building self-awareness and understanding the motivation behind how you are spending your money. Mindful spending can bring a sense of control in times of uncertainty. It will also aid in building a healthier relationship with money and how you spend it.  

Setting financial goals for your present and future is the first important step to financial success and freedom. People generally get hung up on the numbers, but the most essential thing to consider is what is important to you. Do you want to buy a house, travel, support a loved one, pay off debt, build savings, or start to invest? Understanding your key values will allow you to set goals that matter to you.

As 2024 comes to a close, many are preparing for their New Year’s resolutions. A great place to start is by reviewing and refining your budget. For many, budgeting can feel overwhelming and anxiety-inducing. Hopefully, some of the tips below can help you get started on the right track.

Although combining finances can be a daunting process, there are ways to help assure you and your partner are on the same page. Relationships are about compromise and finding a solution that works best for you and your partner, so there are no right or wrong answers! 

Teaching high-level concepts such as investing, budgeting, and philanthropy might appear ‘too advanced’ for children, but there are many accessible and age-appropriate ways to introduce these concepts to kids. 

For many Americans who earn a livable wage, their financial struggles may be because they haven’t yet developed good money habits or discarded negative ones. Creating subconscious positive financial habits can be the difference between accumulating debt versus staying debt-free, and it can be the difference between going under when facing an unexpected expense versus staying afloat. 

To our clients based in Maine, did you know that you may be eligible for a tax extension? Due to the flooding that began on January 9th, 2024, the IRS has announced tax relief for individuals and businesses in select Maine counties. 

Inflation has been hitting us all hard lately, making it tough to stretch those dollars. While the annual inflation rate appears to be headed in the right direction, it could still take some time before it reaches its target. 

Your credit score is one of the most important tools that you have in your financial toolbox. Having a high credit score shows creditors that you have a history of paying off debt on time. This makes you more reliable in their eyes, and they’ll be more likely to lend to you.