Do you have $1,000 saved up for a rainy day? If the answer is no, don’t feel bad—only 39 percent of Americans can answer yes to that question. Building up a $1,000 emergency fund may seem unrealistic in your current financial state, but our team at Richard Banks & Associates, P.C. has a few tips and tricks to share with you that will make it an easier goal to accomplish. Read on →

Richard Banks & Associates has been in the business long enough to know all of the negative connotations and stigmas associated with filing bankruptcy. We also know that all those stigmas are unwarranted and could be holding you back from making the decision necessary to take back control over your finances. The good news: Bankruptcy does not have to be associated with all those preconceived notions and emotional, social and financial stigmas! Read on →

Summer is coming and with the temperatures heating up, you’ll want to make sure you’re keeping that budget nice and cool! Our team at Richard Banks & Associates, P.C. knows how hard it can be to stick to your budget during those summer months, so here some helpful tips to keep your spending on track. 1. Don’t overspend on vacations. Did you know that 74 percent of people surveyed in 2017 by LearnVest said they’ve gone into debt to pay for a vacation? Read on →

$1.48 trillion. That’s what Americans currently owe in student loan debt. If you are one of the 44 million or so borrowers, you may be wondering if your student loans will ever be paid off. Or perhaps you’re wondering how to make ends meet while paying your loans back. Trust our team when we say you’re not alone. According to Student Loan Hero, class of 2016 graduates owe an average of $37,172, which is up 6 percent from the previous year. Read on →

Are you a baby boomer who isn’t so comfortable with the size of the nest egg you’ve been working on? Don’t worry—you’re not alone. According to the Insured Retirement Institute, fewer than one in four baby boomers believe they’ll have enough money to support them in retirement. Your retirement date may seem closer than you’d like, but our team at Richard Banks & Associates, P.C. is sure that with some of these tips, your nest egg can be bumped up to a level that is more to your liking! Read on →

Show of hands, who has set a budget and failed to stick with it? Don’t worry, you’re certainly not alone! Budgeting is a delicate balance, and often we can get a bit overzealous with our budgets. Our team at Richard Banks & Associates, P.C. understands the struggle that is creating and sticking to a budget and thought these budget tips for the real world would come in handy! How do you create a budget for the real world you ask? Read on →

Surely you’re familiar with the name Warren Buffett, he’s only one of the world’s wealthiest men! He didn’t reach that status with just good luck though and has some valuable financial advice that we would all be wise to cash in on! Not only is Mr. Buffett a savvy investor, but he has also passed along some insightful thoughts that are worth sharing! Here are some of our favorite Warren Buffett tips and quotes! Read on →

On the journey to build up excellent credit or repair your credit, there are many common mistakes that can be easily avoided! To help you avoid these missteps, Richard Banks & Associates has compiled a list of mistakes to be watching out for. Let’s take a look at four common credit mistakes to avoid: 1. Maxing out a credit card. Having a credit card and using it responsibly can be an excellent way to boost your credit. Read on →

Our team at Richard Banks & Associates, P.C. knows that when you’re fresh out of college there are many exciting things that lie ahead of you: embarking on career journeys, moving to a new town, getting married, starting a family, the possibilities are endless! While enjoying all that life has to offer, don’t forget to remember the importance of financial planning! When just getting started out, keep in mind that your wealth in your 30s and 40s is set up by decisions you make in your 20s. Read on →

Once again, tax season is upon us. At Richard Banks & Associates, we know that filing taxes can be a stressful time for some, but hope that the tax time tips we’ve found can be helpful! As they say, nothing in life is certain except death and taxes, and the IRS began accepting 2017 federal income tax returns three days ago. This year, you have until Tuesday, April 17 to file your taxes. Read on →