10 Tips To Free Up Money When Starting To Build Long-Term Savings

Wanting to get started on building long-term savings is an admirable goal. If you are able to free up some extra money in your budget to build that savings bigger faster, that’s all the better. Here are 10 tips to free up extra money to boost your savings.

1. Cut down on eating out
If you buy a fast-food or deli lunch every day at work you are probably spending $7 to $8 a day. Taking your lunch each day only costs a couple of dollars a day, leaving you a savings of around $5 a day that you can put toward your savings.

2. Refinance your mortgage
If you own your own home, you might be able to free up extra money by refinancing. If you plan to stay in your home for at least a few years and can get at least a 1 percentage point decline in your mortgage rate, you could significantly reduce your monthly mortgage payments and free up several hundred dollars a year to put toward savings. Use a mortgage calculator and see if you’re leaving money on the table.

3. Inquire about auto insurance discounts
Car insurance is a place you may be able to save some money to boost your savings. Inquire with your insurer about possible discounts you might qualify for, such as a good driver discount, a discount for completing a safe driver class or a multi-car discount. Consider the situation you’re in and make sure that you have the right company as your insurance provider. For example, seniors should look for a good senior auto insurance policy. Some companies specialize in those non-standard situations.

4. Increase your deductibles
Another way you can save extra money to save is to increase your deductibles on car and homeowners or renters insurance. Doing so will reduce your premium costs each month and free up extra money to save.

5. Bundle for discounts
Bundling services can get you discounts you can apply toward your savings. For example, you can bundle your cable TV, Internet and phone services with the same provider, which usually results in a discount of at least 10 to 25 percent. You can also bundle insurance policies.

6. Get a rewards credit card
You can earn 1 percent or more on your credit card purchases that you can put toward your savings. Use the card only for necessities, such as gas and groceries, and make sure to always pay the bill in full and on time every month.

7. Cut your energy costs
If you keep your thermostat a couple of degrees higher than normal in the summer and a couple of degrees lower than normal in the winter, you can save a few extras dollars each month on your heating and cooling bills, which you can put toward your savings.

8. Bike or use public transportation
The less you use your car, the less you have to pay for gas and parking. If your workplace is close enough to bike or walk to, do so whenever you can. If it’s cheaper to take public transportation than drive, do so when you can to save money.

9.Cut your entertainment spending
Stay home a watch a rented movie rather than going out to one. You might also check out free plays and concerts instead of buying tickets.

10. Look at all discretionary spending
Can you find a cheaper gym membership? Do you need all the cable channels your provider offers? Do you have the Cadillac cell phone or Internet plan when the Kia version would do? Combing through your discretionary spending is likely to find you a few extra dollars to save.

New 2014 Tax Laws You Need to Know About

Tax laws are large, complicated and forever changing. The 2014 tax year has some notable changes, both good and bad, that will affect a large number of American citizens. Keeping track of these changes is important, because it can have drastic consequences on income tax returns. The following major changes all have to do with federal tax returns.

Health Insurance Tax Changes:

The most notable and drastic change to taxation law for 2014 involves Obamacare and the use of the new health insurance exchange system it implemented. There are two major factors involved. The first is a penalty for not enrolling in an acceptable coverage program. The second is the financial aid that is available to certain lower income individuals to help them afford acceptable coverage.

The Penalty:

Starting in 2014, individuals who do not enroll themselves in an “acceptable” health insurance policy will face a penalty that is collected as a tax at the end of the year. There has been some debate on Capitol Hill about cancelling or extending the deadline on this mandate, but as of February 2014, the mandate still stands. There are certain exemptions for very low income individuals and those who meet certain other conditions. The 2014 penalty is rather small at $95 for the year. That pales in comparison to the thousand or more dollars a year it would take to pay minimum essential insurance premiums. This cost quickly escalates the following years. The planned penalty for 2015 is $325, and the planned penalty skyrockets to $695 in 2016. While these penalties are still lower than the total for monthly premiums, the idea is that most people would rather put their money toward insurance than just hand it over to the government.

Everyone has a three month grace period to enroll, so the penalty will not kick in unless they go more than three months out of the year uninsured. There is a catch, however. Open enrollment for insurance ends the last day of March, so if someone does not enroll by then, they will have to wait until November to enroll, and that will bring them over the three month grace period by default (http://obamacarefacts.com/obamacare-individual-mandate.php).

The Tax Credit:

The reverse of the penalty is the tax credit for enrolling in a qualified policy. Anyone who falls between 100 percent and 400 percent of federal poverty line in annual income will be able to collect the tax credit (http://obamacarefacts.com/federal-poverty-level.php). In most states, those lower than 100 percent will automatically be enrolled in Medicaid and will not be affected. There are, however, multiple states that have opted-out of expanding their coverage, and may fall into a coverage gap.

This tax credit can be provided monthly as a way to lower premium payments, or it can be provided as a lump sum on a person’s tax return. The exact amounts of payment are only final when the income is reported. Any differences between monthly payments and the actual coverage are made up for as tax debt or credit on the return. If someone ends up with a credit, then that can be collected as cash on their return, even if they were on the monthly plan.

Other Tax Changes:

There are a myriad of other, less major, changes. Here are some highlights of previous exemptions that are set to expire.

1. Option to deduct sales tax
2. Option to deduct higher education tuition and fees up to $4,000 for most individuals.
3. Transit pass tax break reduced from $245 to $130.
4. The option to deduct up to $500 for improvements to home energy efficiency.
5. Option for teachers to deduct up to $250 in school or classroom related expenses that they paid out of their own pockets.

Saving In Your Twenties: How To Make It A Reality

The time to set a habit of frugality – of saving – is as early as possible, ideally when you’re in your early to mid-20s. Because of how compound interest works, every dollar you save early in your career is worth more than a dollar saved later in your career. The trick to saving in your twenties is to make the savings process as automatic as possible.

401(k) Investing

If your employer offers a 401(k) program, contribute to it, and have the money taken out of your paycheck. Most 401(k) programs have an employer matching level – typically 4-9% of your salary. What this means is that for every dollar you contribute to the 401(k) up to this threshold, your employer will match it – effectively doubling the investment up to this amount.

The second benefit of a 401(k) is that it comes out of pre-tax income; in most states and professions, this effectively means that every dollar you contribute to a 401(k) only takes 85 to 77 cents out of your paycheck.

The third benefit of a 401(k) is that any interest it accrues is tax-deffered. It doesn’t count as income until you withdraw from the account, and you can withdraw from it at the same time you’re eligible for Social Security Retirement benefits.

The final benefit of a 401(k) is something of a mixed blessing: 401(k) are par t of an investment portfolio – which means they’re at the vagaries of the stock market. It does mean that if you can contribute to a 401(k) when the market is down considerably (as it was in 2008-2009), you’ll see some substantial returns.

By and large, if you can, set your 401(k) as a “set it and forget it.” The longer you let it run without touching it, the happier you’ll be with the end result.

General Savings Plans

Once you’ve got your 401(k), you should figure out your monthly income and try to set your monthly expenses at 90% of that amount – and put the remaining 10% in the bank. One technique that works very well, if your employer offers Direct Deposit, is to split your deposit so that roughly 10% of your expected income is deposited into a savings account and the remaining 90% into your checking account, and try to forget that the savings account is there for a while.

When your savings account has a balance sufficient to support you for three to four months with no income, draw two months worth of income out of it and buy certificates of deposit, or CDs. A CD is like a savings account with a time-lock on it. In return for this time-lock, banks pay higher interest rates on CDs. You can buy CDs with staggered maturation rates; for example, buy your first CDs to mature in 3, 4, 5, and 6 month durations. Each time you have enough money to buy another CD, buy one that will mature one month later than your latest maturing CD. Whenever a CD matures, re-invest it the same way. Eventually, you’ll end up with a pipeline of 36 or 48 CDs, with one maturing every month, and periodically feeding more into it This gives you a greater rates of return than your savings account while still maintaining some fluidity.

Major Investigations Into Thomson Reuters

Milliseconds of advance notice represents big potential profits to traders. Last month, CNBC reported that Thomson Reuters disseminated ISM’s manufacturing numbers. This window of opportunity afforded high-speed information clients with tradeable information. SPY ETF responded almost immediately to the trading burst; the etf is a trading proxy for market direction. A downward trading surge occurred 15 millisecondsbefore the data were supposed to be released. That incredibly short period of time helped traders help themselves to profits. Thomson Reuters is the leader (ahead of Bloomberg) in financial information and data services used by the financial industry, tax and accounting, law firms, media outlets and science organizations. Information is primarily (rapidly) transmitted online.

Milliseconds and high-speed trading impact. Thomas Derry, CEO of ISM, told reporters about how the data were released; he believes the situation occurred as a result of an anomaly that won’t be repeated. The early release of ISM’s data occurred on June 3rd and was almost immediately noted by a Nanex analyst who reported this observation to CNBC. According to Nanex information, approximately 30,000 SPY shares traded in a single millisecond< during the fifteen millisecond period between the early release and official release time. Nanex said that 369 other shares traded down as a result of SPY. About $28 million in SPY shares traded during the millisecond window. Information and time equal trading power. In an agreement signed between Thomson Reuters and the University of Michigan (the producer of the widely-cited statistic), data are supposed to be posted on the web for the benefit of a general public audience at 10:00 am on the release date. Thomson Reuters pays a $1 million access fee to the University of Michigan each year for its exclusive use. Thomson and the University of Michigan confirmed an existing working relationship. Ultra low latency distribution equals unfair trading advantage. Information buyers, e.g. elite traders, had access to the critical information before the rest of the general public. Some traders may have received the a ‘heads-up’ after a conference call occurred at 9:55 a.m. about the data. However, trading clients of Thomson’s ultra low latency distribution platform received information pre-formatted for electronic algorithmic traders at 9:54:58:000. In some cases, the data might have arrived up to 500 milliseconds earlier, according to contract agreement. Elite traders using the ultra low latency platform had more than enough time to execute favorable trades against the information. Ultra-tiered information distribution. There are multiple ethical concerns about the timing mishap (relating to the time when the general public was expected to have the statistical data) and when various trading populations received the information ahead of the curve. A difference of seconds can mean millions of dollars in trading profits to elite algorithmic trading organizations. According to “Yahoo Finance,” a blink of the human eye occurs between 300 to 400 milliseconds. Investigators have thusfar determined that the early release of the data was a mistake, but the timing differences noted between trading information purchaser levels points to consistent early receipt of multiple levels of trading data on a consistent basis. That difference in time is crucial to electronic traders’ advantage in the markets. In comparison, non-professional traders, e.g. individuals transacting trades for their own accounts, do not receive early access and may therefore trade at a comparative disadvantage. A Securities & Exchange Commission spokesperson commented that educational institutions, e.g. the University of Michigan, should maintain higher standards as to whom information such as the consumer confidence index data is sold. Some investors’ cries of “unfair” and “insider trading” indicate the discussion related to Thomson Reuters’ inadvertent early release of data will continue for some time.

Beyond Vacations and Glamour, Here Are 3 Reasons to Be a Jones Resorts Timeshare Owner

In today’s fast paced world and demanding economy, taking a vacation can seem like a time wasting luxury that no one can afford. What if you could make that vacation affordable, flexible and worry free? With Jones Resorts ownership, taking care of yourself has never been easier or more financially sound. Jones Resorts will take care of everything. Your only job is to show up and enjoy world class accommodations.

Here are three reasons why you should consider Jones Resorts ownership.


Jones Resorts offers an opportunity to own your vacation for years to come. No more worrying about the rising costs of hotels. Don’t waste one more second wondering if you’ve wasted your hard earned money on poor quality rooms. You will never again have to second guess the cost of your vacation. A Jones Resorts ownership plan allows you to spend less than regular hotel rates for high end accommodations. You can even pass ownership to your heirs, ensuring affordable vacations for the next generation. Create memories that your children can enjoy for years to come.


Jones Resorts timeshare ownership doesn’t just entitle you to stay at one of their resorts in Palm Springs, California; San Diego, California; Cabo San Lucas, Mexico; and Branson, Missouri. As a highly rated participating member of Intervale International, Jones Resorts ownership gives you the opportunity to exchange your vacation for some of the best accommodations in the world. In the mood for a golf vacation? Try the Jones Resorts in San Diego or Palm Beach. If theater is your thing, you can’t beat the Jones Resorts at Branson or San Diego. No matter which destination you choose, you will be guaranteed the fine quality of a Jones Resort.

World Class Accommodations

Forget about cramped hotel rooms or less than stellar surroundings. When you book hotels from home, there’s really no way to know what you’re getting into. With Jones Resorts ownership, you know exactly what to expect: spacious rooms, loads of amenities and stunning views. Entertainment venues await you just outside your door whether it’s golfing, fine dining, a theater experience or a day at the beach it’s all within easy reach of your gorgeous villa. Visit local parks and museums, enjoy a game of tennis or a day at the spa. Kids love Jones Resorts too with its water slides, classes of all kinds for every age and plenty of both on site and nearby activities . You’ll never run out of things to do and when you want a change, you can exchange your timeshare vacation for another fun filled location.

Now there are no more excuses for putting off that family vacation. The memories won’t wait so why should you? Below average price for above average accommodations and amenities, a predictable vacation cost year after year even if hotel rates skyrocket, plenty to do and the flexibility to change your destination when you want to. These are just a few of the reasons that Jones Resorts ownership is right for you. Take the worry and the stress out of your vacation planning and get that relaxing spa/resort vacation you deserve. Book a Jones Resort vacation package and see for yourself. You’ll wonder why you waited so long.

Investing In Stock: Is It A Good Idea?

When looking to invest, an individual can buy stocks, bonds, or real estate. While the stock market is intimidating to plenty of people, an investor should not worry. Here are four reasons why investing in stocks is an excellent idea.

Quick to start: Let’s face it, if you aren’t rich, you can’t invest in real estate or private companies easily. On the other hand, with stock investing, you can start with a couple of thousand dollars. Then, over time, as your situation improves and you bring in a higher income, you can put more money to work. Brokerages often allow people to open an account with a few hundred dollars, and a wise investor can add money in the future. On the other hand, if you want to buy a house or invest in a local company, you will need to come up with thousands of dollars to start. Therefore, if you are young or just starting out in your financial life, look to stocks, as this asset class is an easy one to get into.

Superior returns: When you want to invest in an asset, you want to see excellent returns over the long haul. If you buy stocks or mutual funds, you will enjoy superior returns against almost every other asset class. While precious metals, real estate and other assets will fluctuate greatly, over the long haul, stocks will rise. If you have a long-term outlook, you can fill your portfolio with quality companies and watch as you enjoy solid returns with little effort. To understand this point further, do the research yourself and you will see that stocks, by far, offer the best returns in the long run.

Easy: If you want to concentrate on life and not on investing, buy stocks. With an online brokerage account, you can purchase stocks or mutual funds from the comfort of your home or office. Then, you can walk away from your investments and let them do their work. This is in stark contrast to other investment vehicles such as property or small businesses. In fact, if you invest in blue chip companies and frequent trading, you will enjoy excellent returns with little effort. On the other hand, if you buy houses and work as a landlord or invest in other assets, you will face an uphill battle every time you deal with an unruly tenant or other issues.

Tax savings: If you open an IRA or contribute to a 401k at work, you will enjoy plenty of tax benefits. Over the long run, taxes take a bite out of your net worth and you need to reduce this by using legal methods. Luckily, if you fund an IRA or put money in your 401k, you can write off the contribution and lower your overall burden. Other times, if you are smart and open a ROTH IRA, you can pay taxes when you contribute money. However, you will enjoy tax-free withdrawals when you retire. Either way you look at the situation, if you want to avoid a massive tax bill, consider investing in the stock market via a retirement account.

While intimidating at first, an investor will enjoy plenty of benefits by putting his or her money to use in the stock market. Remember, stocks offer superior returns for even the average investor.

4 Companies That Can Save You Serious Cash On Car Maintenance

While it’s hard to resist the allure of freedom on the open road in a nice car, the unfortunate truth is that cars can require quite a hefty investment. Disregarding insurance and gas prices, the real problem is how expensive car maintenance has gotten over the past few years. Is there any way to save money on car maintenance so you can get back to experiencing the joys of the open road? As a matter of fact, there are several great companies out there right now that can help you to save tremendous amounts of money on car maintenance. Luckily for you, we’ve taken it upon ourselves to compile a list of four of them for your reading pleasure.

Maaco: Over the years, Maaco has built a name for itself by consistently delivering high quality repairs to the cars that it services. While their main focus is in collision repairs, that doesn’t mean they aren’t useful for car maintenance as well. If you’re interested in seeing what type of special deals they currently offer, it’s as simple as visiting their site and signing up for free information. Don’t be afraid of doing a little investigative work if it means you’ll save a large chunk of money in the long run.

Toyota: While this next one isn’t for everyone, those on the lookout for a new vehicle may want to take a look at Toyota’s no cost maintenance plan. True, it requires the purchase or lease of a new car, but consider the savings from not having to pay for proper car upkeep when deciding whether or not it’s worth the investment.

ShortCircuitRepair.com: As a car service repair specialist, Short Circuit Repair has made a name for itself in the San Francisco Bay area by providing top notch repair services that are as affordable as they are effective. In fact, their factory car navigation repair service is unique in that it offers customers a way to repair their navigation units without having to purchase a new one from expensive factories. This, of course, equates to huge savings for their clients. If you’re looking to save money on a navigation unit, and you’re in the San Francisco Bay area, then it’s probably best to start your search here.

Pepboys: At first glance, a national car maintenance chain may seem like it’s ready to take advantage of both your car and your wallet. In truth, though, Pepboys offers a competitive pricing plan that aims to take out its competition. Simply show them an advertised price by a competitor, and Pepboys will beat it by at least five percent. When it comes to car maintenance, five percent can add up to quite a bit of savings, and every little bit of saving helps when it comes to getting the most out of car maintenance.

With so many ways to save money, there’s no excuse to avoid taking high quality care of your car. Instead, take that saved money and treat you and your car to a nice night out on the town. With all of these savings on your radar now, we think you’ve earned a break!

What Your Company Needs to Know About Liability

If you are sued as a sole proprietor, you will be sued personally. Your retirement savings, your house, and other assets could be at risk. Once your business is incorporated, it exists as a separate business entity. This means that the corporation is now responsible for all of its liabilities and debts. This is called the corporate shield in the industry. It separates your personal assets from your business assets.

For instance, if you are just starting out and get sued, your personal assets may be vulnerable for up to 22 years. This could be long after you are a huge success. It is very important to think about protecting the assets you have to today as well as whatever you may have tomorrow. It is easy to form an LLC. This is great for smaller businesses who want to protect their personal assets with minimal administrative requirements and red tape.

Personal Liability

The first crucial step to minimizing personal liability is forming or incorporating an LLC. This measure does not unconditionally protect you from personal liability. Here are several circumstances where you can still be held personally reliable:

* You mix your business and personal finances and do not operate your business as a separate entity.

* You operate your business illegally or commit a crime

* Your actions result in an injury.

* You personally guarantee a loan for your business.

Business Liability Insurance

Your small business can be protected from personal injury or pretty damages in case there is a lawsuit by having business liability insurance. Liability insurance comes in different forms. It depends on your business needs. You should discuss your specific business risks with a broker or an insurance agent who is familiar with your industry. Here are three main types of business liability insurance:

* General liability insurance – This protects your business from claims of negligence, property damages, injury claims, and advertising claims. General liability insurance may be the only type of insurance you may need depending on your business.

* Product liability insurance – This insurance protects you against financial loss as of a defective product that could cause harm. Companies that wholesale, manufacture, distribute, and retail a products may need this kind of insurance.

* Professional liability insurance – This kind of insurance protects business owners who supply services against negligence, errors, malpractice, and omissions. You may be legally required to have coverage in some professions. This includes a practicing doctor in specific states. Independent consultants are required to have their own coverage in some businesses.

Business Classification Can Affect Your Premium

Insurers have classifications for each kind of business. The classification in part determines how much your insurance coverage will cost. Each business will incur its own degree of risk. Insurance companies factor in these risks when the premium is calculated. Make sure your company is accurately classified to stop unnecessary expense. The amount of sales you make and the size of your payroll can affect your premiums as well.

The first essential step is incorporating or forming an LLC. This liability coverage if it is necessary. It is important to take your business and liability concerns seriously no matter how small your business or what industry you are in. You can save yourself from financial hardship and headaches down the line if you take a few steps and stay ahead.

Travel Destinations On A Budget: 5 Ways to Save

When summer hits, many kids are freed from school. Many workers are excited to get a week or two off of work. The summer vacation is just about as American as apple pie. Some people are concerned that the Great Recession made traveling outside one’s hometown an impossibility for the vast majority of Americans, but there are still several ways to make a vacation more affordable. Here are five.

Visit a Budget-friendly Destination

If you choose to go to one of the Disney theme parks that are situated around the globe, there is a good chance that it will cost an arm and a leg. In addition to the expense of admission, there is also the cost of lodging and food, and these will likely come at a premium. Why not go to a destination that doesn’t cost quite as much. Places like Chickasaw Country or one of the national parks in the Midwest can be great options that are more affordable for families who want a nice vacation.

Go During the Off-season

The week around the Fourth of July will always be one of the busiest and most expensive times of the year to go on vacation. Going the first week after school is out or the last week before school starts back can be great times to save a bit of money. Those who have no ties to the school calendar can also benefit from going at other times of the year. Low season in the Caribbean is October and November. Those going to Europe can frequently save during the spring. Many American beaches are cheaper in the spring and fall. Those who can visit at these times will do quite well.

Use Points

Getting to many destinations quickly can require a plane ticket. Otherwise, a trip to Florida could take about a week in the car for someone from the West Coast. Airfare has gone up considerably over the past few years, and many airlines are now charging for checked luggage. One way to avoid this cost is through the use of a point-paying credit card that gives you frequent flyer miles. These miles can accumulate to the level of a free ticket. Of course, it’s very important to avoid paying interest on these cards because this will lead to more debt than the cost of the ticket.

Stay Close to Home

There are interesting places to see and activities to do in just about every part of the country. Whether it involves a few days visiting historical museums or some time at a local lake, many Americans can have a blast without paying hundreds in transportation costs. Also, camping at one of these sites can be a great way to save on lodging.

Shop around

It’s never been easier to find a place to stay while on vacation. Travel websites like Orbitz and Expedia have made it very convenient to price airfare and lodging. Those who are browsing for the perfect lodgings can also see pictures and customer reviews from previous clients. This can help you save money while also avoiding the Roach Motel.

Going on vacation is great fun. Few people hate travel, and many Americans would take off if they did’nt think it was so expensive. While there is quite a bit of expense involved in taking a trip, those who are budget-conscious can still save money by following these tips.

5 Financial Recommendations for Recent Graduates With MA’s

After graduating from school, many graduates entering the workforce will find that managing their personal finances can be a challenge. While managing your personal finances can be difficult, there are five financial recommendations that all graduates can follow, which will help to ensure they are able to save money and ultimately achieve financial freedom.

Start Saving for Retirement Early
The first financial recommendation to follow is to start saving for retirement early. While retirement can be up to forty years away for graduates, the time it takes to accumulate a lot of assets takes a lot of time. To ensure that you eventually have enough money to comfortably retire, you should start saving as soon as possible. By taking advantage of tax-advantaged retirement accounts, such as 401ks and IRAs, you can save even more money. You should attempt to save at least ten percent of your income and always take advantage of any employer-provided retirement contribution matches.

Build a Safety Net
When you first start working, it could be tempting to buy some personal items and pay off personal debts. However, before doing this you should ensure that you build a safety net. Your safety net should be equal to at least twelve months worth of living expenses. This will then be available to you in the event that you lose your job and have to support yourself without an income.

Pay Down High-Interest Debts
The third recommendation for graduates is to pay down any high-interest debts that they have. Many students end up graduating with a lot of credit card debt. While credit cards could have helped them to get through school, paying off these debts can be tough. Once you have saved up an appropriate safety net, you should next focus on paying off all of your credit card debt. Doing this earlier rather than later will help you to save a lot of money on interest charges over time.

Build a Budget
The fourth recommendation for graduates is to build a personal budget and stick to it. Graduates who are entering the workforce need to learn to stick to a financial plan, which will include setting up a budget for how much money can be spent each month on fixed expense, such as rent and car insurance, as well as discretionary expenses, such as dining out. When building a budget, it is important that it is realistic and includes reserves for saving money, paying down debt, and achieves both short-term and long-term goals.

The fifth recommendation for graduates is to look for ways to invest. While most graduates may feel that they are already financially strained, graduates should look for ways to invest their money when they can. Graduates should look to invest their money in well-managed and regarded mutual funds and blue-chip stocks. While it can be tempting to invest in more speculative stock investments, the amount of these investments should be limited to a small percentage of your portfolio.

In conclusion, managing personal finances can be a big challenge for recent college graduates. While it can be overwhelming, there are several tips that all graduates can follow, which will make it easier for them to save money and manage their finances.