All Articles: Money Management

Browse all of our resources to help you learn how to use money wisely.

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Is One Checking Account Enough?

There are so many reasons to have more than one bank account. Most of us use money in different ways, so it may make sense to open additional accounts. The situation can become more complicated if you are married or more than one person uses your account. Use this guide to help you open the right number of bank accounts.

Man shopping in a supermarket while on a budget. He is looking for low prices due to inflation, standing looking at his phone in front of a row of freezers.
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Easy Ways to Save Money

Saving money doesn’t have to be a chore. There are a variety of tools and shortcuts at your disposal that can help you track your spending and cut back on regular purchases to help you save more. From entertainment to transportation and online shopping, learn about the best ways to save money.

Mother and daughter at grocery store picking produce.
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Preparing for a Possible Recession

A recession represents a decline in economic activity and often leads to high unemployment. Recessions are a natural part of the business cycle, but they can also have a detrimental effect on your finances. Recessions come and go, but they are historically difficult to predict. Learn how to prepare for a possible recession by adjusting your personal finances accordingly.

Large houses on a hill in a wealthy Colorado mountain town.
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How much money makes you “wealthy” in Colorado?

Have you ever wondered how much money it would take for you to be considered rich or wealthy? While people may have different definitions of wealth, it is commonly thought of as having great material resources or assets. Read this article to learn what is considered wealthy and what experts recommend to help you build your wealth.

Person taking receipt from gas pump.
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Adjusting Your Budget With Rising Gas Prices

Many of us need gas to get where we need to go, and high gas prices can have a devastating impact on your personal finances depending on how often you need to refuel. Even if you don’t have a car, you’re bound to feel the effects of inflation as rising gas prices affect supply chains. Learn how rising fuel prices can affect your budget and how to adjust your expenses accordingly.

Man at his desk packing his things in a box after he resigns.
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Great Resignation: Money Tips When Transitioning Your Job

With a record number of job openings all over the country, it’s a great time to look for a new job. But transitioning careers can leave you without income for several months or more, depending on how long you are out of work. If you are thinking of changing jobs, learn how to manage your finances during this period of transition.

Carefree woman resting, drinking fruit juice near the beach while on vacation.
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How to Vacation on a Budget

There’s nothing better than leaving town with your loved ones as you explore a new city or country. But going on vacation is more expensive than it used to be. The cost of travel, housing and meals out can put a major dent in your finances. You don’t want to get to your destination and suddenly realize you don’t have enough money to enjoy your trip. This is your time to relax. You shouldn’t have to worry about every dollar you spend. Learn how to budget for your upcoming trip, so you can make the most of your time away from work.

Woman in kitchen looking at receipt after grocery shopping.
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How to Stop Living Paycheck to Paycheck: 7 Ways to Break the Cycle

Living paycheck to paycheck isn’t easy. It means using up all your paycheck until the next one arrives. This leaves little to no room for surprise expenses, such as accidents, medical emergencies and other surprise fees that can put your bank account in the red. It also makes it harder to save for long-term goals, such as retirement, buying your first house or paying off your credit card or student loan debt. Use these personal finance tips to break out of the cycle so you can start saving more money each month.

Senior man with glasses inflating party balloon.
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Managing Your Finances During Inflation

Inflation can have a serious effect on your finances. When prices start to rise, consumers lose their purchasing power, which means your money won’t go as far as it used to. You may not be able to control inflation, but you can change the way you manage your finances during these uncertain times. Learn more about the effects of inflation and the impact it can have on your savings and income.

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What To Do With Your Tax Refund

Getting a check in the mail or automatic deposit from the federal government after you submit your tax return is a great opportunity to whip your finances into shape. Don’t let that money burn a hole in your pocket. Use these tips to make the most of your tax refund.

Different Styles of Budgeting
There’s more than one way to make a budget. Use this guide to learn about the different ways you can manage your expenses as you work toward your financial goals. 

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Infographic: Different Styles of Budgeting

There’s more than one way to make a budget. Use this guide to learn about the different ways you can manage your expenses as you work toward your financial goals.

Smiling woman on web conference call, working from home.
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Working from Home: What to Do with the Money You Save

Many companies have started letting their employees work remotely. You can attend meetings, take calls and answer emails without going to the office every day. Working from home helps to improve worker retention, work-life balance and can even reduce certain expenses. The average person saves around $4,000 a year by working remotely. So, what are some things you can do to put that extra money to work? Use this guide to make smart money management decisions and get the most of every penny you earn while working from home.

Smiling woman walking down the street looking at her phone and shopping.
lightning bolt icon to show concept for quick lessons Quick Lesson 4 min read

Comparison Shopping: How to Find the Best Deals

As a consumer, you have choices on where to buy the things and services you need, from cars to home goods and everything in between. If you’re trying to save money, you might try comparing prices from more than one store or vendor. Finding the lowest price can help you save money, leaving you with extra cash to invest and pay down debt or work towards other financial goals. Comparison shopping is easier than ever with online tools and shopping. Use this guide to find the best deals online or in-store.

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Is a Free Checking Account Really Free?

You may be intrigued by all the free checking accounts you see advertised. No one likes to pay fees, especially when accessing your own money. Those fees can eat away at your budget. Therefore, free must be good, right? Yes, but free checking is not always completely free. You just need to know what to look for.

kids bank accounts
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Kids Checking Accounts: Things to Consider

If your child is responsible enough to manage their own money, you can set up a checking account that comes with its own debit card. Here’s what you need to know about opening a bank account for your child.

money tips for the new year
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Money Tips to Save More and Spend Less in the New Year

Around this time every year, countless people spend time pondering and planning goals and resolutions for the upcoming year. Whether your new year’s resolutions are big or small, improving your personal finances can probably help you reach them. A foundational piece to improving your finances is learning how to save more and spend less. Read this article to learn about some of our Community Education Team’s favorite money tips to try in the new year.

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New Year’s Financial Resolutions

With the New Year rapidly approaching, many take this time to reexamine and reprioritize every aspect of their life, including their finances. The end of the year is a great time to reflect on everything you’re doing right and how you’d like to improve. Many of us make New Year’s resolutions, vowing to change our behavior for the better. If you start meaningful financial habits, you will be one step closer to achieving financial health. If you’re looking to improve your finances, add these New Year’s financial resolutions to your list.

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Budgeting Plan: How to Stay on Track and Make Adjustments

Americans are more in debt than ever. The pandemic may be to blame for part of the increase, but studies have also shown that Americans are less financially literate than they used to be. If you’re struggling with debt, or you just want to live within your means, the first step is to create a budget.

net worth
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Net Worth Calculation Made Easy

Your net worth all comes down to assets and debts. Everyone owns a few assets and you may have a few debts or liabilities as well. Calculating your net worth shows you how much you’re worth in terms of dollars and cents. It’s how much you own or have minus everything you still owe. Use this simple guide to learn how to calculate your net worth.

charitable giving
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Introduction to Charitable Giving

Philanthropy and charitable giving, once thought to be reserved for the wealthy and the elite, has become a common theme across much of today’s society. Charitable organizations fill a vital niche in our communities. They serve the public and support initiatives that may not be covered by the public or private sector and help create thriving societies and economies. Charitable giving can be both personally and financially rewarding, which is why it’s important to know what your options are so your gift has the biggest impact.

financial goals
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How to Set Financial Goals

If you’re looking to make the most of your money, it’s time to set a financial goal. Everyone has dreams of a better tomorrow, and saving money is usually a big part of making your dreams come true. Setting a goal is like setting a budget. You should work towards saving as much money as you can every week/month until you reach your goal, whether it’s buying a new car, saving for retirement, or paying off your student loan debt. Setting a goal for your finances is the best way to turn your money into something of value. Learn how to take control of your money with these personal finance tips.

zero based budgeting
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What Is Zero-Based Budgeting?

If you’re looking to save money, you may be interested in what’s known as the zero-based budget (ZBB), or zero-sum budget. This means allocating all of your monthly income to various expenses, including basic needs like food and rent, as well as savings and paying off existing debt. Allocating 100% of your monthly income doesn’t mean spending all your money every month, nor does it mean you have to put it all in savings either. It just means you have a plan for every cent you make. Learn more about this method of budgeting and how it can help you improve your finances.

track your spending
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How to Track Spending

Do you get to the end of every month with no cash left, struggling to pay the final few bills and frustrated because you can’t seem to stay on budget? Learning how to track spending can help you be more aware of where your money goes throughout the month and can help prevent you from having to scramble until the next paycheck.

money management
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Financial Tips for Young Adults

As a new consumer, you might not have much experience managing your money, but that’s okay. If you are looking to start good money habits now and make the most of your hard-earned money, use these money management tips to help you get started.

A mature smiling man in his mid 40's takes a picture with his smart phone of a check or paycheck for digital electronic depositing.
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What Is a Money Market Account?

Are you ready to put your money to work for you to earn interest, but still have it readily available to access? That’s the basic money market account definition. Money market accounts offer you the option to maintain liquidity, while you watch your money grow.

Happy mother and son practicing saving money by putting coins into a piggybank.
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How to Save Money

Do you work hard every week, only to see your paychecks slip away like sand between your fingers? Saving money can be difficult. The good news is that it’s never too late to start saving and you can take baby steps while you learn how to put money away. As your nest egg grows, you’ll be motivated to find more ways to boost it up and can add even more money saving tricks to your repertoire.

Young man with a beard at home, smiling while budgeting on his laptop.
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How to Budget: How to Make a Monthly Budget

Making the most of your money isn’t always easy these days. Chances are you’re getting hit with expenses from all sides, which can be stressful if you don’t have a lot of money to go around. Regardless of how much money you make or what you’re looking to do with it, it’s always a good idea to learn how to budget. This will help you better manage your finances, so you can prepare for the unexpected. 

College girl working with a laptop sitting on a bench around campus.
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College Savings Plans: What You Need to Know About 529 Withdrawal Rules

Whether you’re saving for your child to go to college or planning the next chapter of your career, you have several options to choose from when it comes to paying for school. The good news is that you’re thinking about your options ahead of time, which should help you make the most of your money as you prepare to further your education. 529 plans can be confusing but learning about these programs will help you save money over time as you finance your education, regardless of where you decide to go to school.

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Compound Interest: Learn How to Calculate Compound Interest

It’s no secret that compound interest can be a huge asset when it comes to your finances. But it can also be a recipe for disaster if you’re having trouble making monthly payments on your mortgage, student loans, or credit card bills.

African Professional Chartered Accountant Woman Doing Tax
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Five Tips for Tax Season

Have you filed your tax return yet? If you're worried about preparing your taxes, use these tips to help get you ready for tax season.

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Do Youth Accounts Help Kids in College?

Read this article to learn how a youth account can help your kids succeed in college.

Family Savings. Cheerful Afro Mother Teaching Little Daughter How To Save Money Holding Piggybank Sitting On Sofa At Home
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A Parent’s Guide to Raising Money-Smart Kids

As a parent, you might struggle with when and what to teach your children about money management. Is five too early to earn an allowance? Should you share the family budget with your children? When should teens learn about credit? These are all important questions, and it’s often not easy to know the answers. Kids have different levels of interest in financial education. But research tells us that by the age of five most children understand money and what it can do. The information below offers more specific guidelines for different age groups. Again, these are just guidelines. What decisions you make about when and what to teach at home depend on your family situation, household budget and how comfortable you are in the role of teacher.

Close up of man holding pink piggybank while woman putting coin in it. Indian young couple saving money for their wedding. Close up of woman hand putting euro money in piggy bank to save for the purchase of an house.
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Building Savings: Four Ways to Help Increase Savings

Saving money can feel like a challenge. Even thinking about saving – when you’re trying to pay off existing debt – can be stressful. But, it doesn’t have to be. You can start to save more by using these strategies.

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Want to be happier, healthier and more productive? Try learning about money.

We’ve all heard sayings like you can’t buy happiness or money is the root of all evil. While people may have negative feelings around money due to bad experiences in the past, that doesn’t mean that money can’t be a positive part of a person’s future. Money isn’t the most important thing in life, but it can help someone achieve their goals in other areas such as providing for their family, having more freedom around lifestyle choices and taking care of their health.

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Financial Principles: Four Important Money Principles

If you could only learn four things about money, what would they be? Read this article to learn about four essential money principles that can help you take control of your finances.

A graphic that shows the four money personalities described in the article.
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Managing Money Personalities: Four Money Personality Types

Money means different things to different people and can motivate people in unique ways. When thinking about how to manage your personal finances, remember that there is not a perfect, one-size fits all strategy. Adapt plans to your personality so that they are easy to follow through on and rewarding. While money is important, it is a tool meant to make your life better and shouldn’t rule your life. The first step to having a better relationship with money, is to first know yourself. Take this quiz to find out your money personality.

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Cash Flow Calculator: Household Net Monthly Cash Flow Calculator

Getting your spending under control and in line with your income is an essential element to building a healthy financial future. Analyze your spending (including what you put on a credit card) each month to make sure you are not spending more than you are bringing in. Once you have got that under control, consider placing what 'extra' you have every month in savings. You will never know when you will need it and it is better to take money out of a savings account to pay for unanticipated expenses rather than adding it to a credit card balance.

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Net Worth Calculator: What Is My Net Worth?

Determining how much money you are worth is like having a personal balance sheet. On the asset side are things you own: homes, cars, investments and personal property. On the liability side are your debts: what you owe on your home mortgage, outstanding loans, and credit card balances. Over time, you want to be reducing your liabilities by paying down debt and building your assets by saving and allowing your assets to work for you by earning interest or building value.

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Save or Pay Off Calculator

Having savings is important, especially when the savings are part of an emergency fund or a hedge against a loss of income. However, when you also have debt, in the form of an outstanding credit card balance or loan, you might want to consider whether you are better off using the money you have in savings to pay down debt. Whether it makes sense or not is determined by the interest rate you are earning on your savings versus the interest rate you are being charged on your outstanding loan balance. The difference between earning interest and paying it should give you a good indication of where you can get the best return.

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Compounding Interest Calculator

How interest is calculated can have a great impact on the interest earned by your account and how your savings grow. Compound interest arises when interest is added to the principal and when the interest that has also been added earns interest. You will see your account balance grow more quickly with accounts that pay interest more frequently. The "Annual Percentage Yield" or APY is the effective annual rate of return once the effect of compounding interest is factored in.