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Gen Y Planning

Financial Planning for Millennials

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How Ditching Your Car Could Save You Thousands

For those of us who grew up in the ‘burbs, the idea of living without a car seems as foreign as driving on the opposite side of the road. How will you haul home groceries? How will you get to work? For many Millennials, especially now that we’re buying suburban homes and having kids (or buying homes because of our dogs), a car will make your life a lot easier. But if you live in a relatively … [Read more...] about How Ditching Your Car Could Save You Thousands

When and How to Refinance an Auto Loan

Let’s say that about a year ago, you bought a car and opted to finance it instead of buying the car in cash. If you didn’t get the best deal on your loan at purchase, you might be able to refinance in order to take advantage of lower interest rates, lower monthly payments, or a shorter loan term. Because refinancing can help save you hundreds or thousands of dollars in interest over the entire … [Read more...] about When and How to Refinance an Auto Loan

Should I Buy a Car with Cash or Take Out a Loan?

Suppose you decide to buy a new car and, after considering whether to buy or lease it, you’ve decided to buy. Now comes your next big decision: should you pay cash for a car or finance it? Once again, there’s no one “right” answer. It truly depends on a few factors, like: The kind of car that fits your needs The cost of that car The cash you have in savings The other things you’d need … [Read more...] about Should I Buy a Car with Cash or Take Out a Loan?

Should I Buy or Lease a Car?

Getting a car is one of the biggest financial decisions you’ll make, and it’s one that can affect your cash flow for years. Beyond the cost of the car, you’ll have to pay for maintenance, fuel, insurance, and parking. A car can cost you just over $700 per month on average, according to AAA (and that doesn’t include depreciation). When it comes to the buying vs. leasing debate, I lean towards … [Read more...] about Should I Buy or Lease a Car?

Hacking Your Credit Card Rewards

So you want to go to Thailand for three weeks when you finish your MBA, but you’re concerned about paying for a plane ticket. However, did you know it’s only 80,000 United miles (plus taxes and fees) to fly round trip to Asia from the U.S.? Or maybe you want to go to Italy for your wedding anniversary. Did you know it’s only 60,000 United miles (plus taxes and fees) to fly round trip to Europe … [Read more...] about Hacking Your Credit Card Rewards

Hacking Your HSA

If your health insurance plan is a High-Deductible Health Plan (HDHP), you may be eligible to contribute to a Health Savings Account (HSA). Unfortunately, HDHPs and HSAs confuse a lot of people, and it’s important to understand how they work so you can use them to your advantage. HDHPs are attractive to many people because they have lower premiums in exchange for higher deductibles. That means … [Read more...] about Hacking Your HSA

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I'm Sophia! And I'm not your father's financial planner. I work virtually with clients across the country to help them navigate through big life changes and reach their goals. I'm also a foodie, a true crime junkie, and a lover of karaoke. Let's chat! Click here >>

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