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AUTHORS: Jennifer Climo Jean Fullerton Jonathan Harrington Nick Prigitano Jenna-Rose Finnie Kyle Labelle

Gargantuan Gas Prices — Working from Home Gets Even More Appealing

April 22, 2022 Cash Management Nick Prigitano

Everywhere we go we see inflation. At the grocery store. When shopping on Amazon. At the gas pump. The insidious increase of inflation is sneakily eating away at people’s paychecks, putting a strain on us when purchasing the things we need to get by. Most companies review pay annually, and with a steep jump in prices continuing early this year, the pay raise you received in January may be eaten away by inflation before it’s reviewed again at the end of the year. Because of this, more companies are at least considering reviewing pay more often, although this is still uncommon.

Interest Rates Going Up? Should You Be Worried?

February 9, 2022 Cash Management Nick Prigitano

Inflation has remained persistently high longer than the Federal Reserve anticipated. This is due to a confluence of factors, including labor shortages, supply disruptions, insatiable consumer demand, and low interest rates, among other things. One of the weapons in the Federal Reserve’s arsenal to combat inflation is the power to raise interest rates. Although interest rates have not increased yet, analysts are expecting multiple rate increases in 2022. If interest rates do go up, what does that mean for you?

Getting Ahold of Your Finances – Creating a Spending Plan for the New Year

January 14, 2022 Cash Management Nick Prigitano

There is a question that people in the fitness community frequently ask: What is the best diet and exercise program? The answer . . . the one you can stick to. I could tell you that you should eat broccoli because it’s one of the most nutritious foods on the planet, but if you gag the second it touches your tongue, or worse, if you’re allergic, that’s going to be terrible diet advice. In the finance realm, much the same can be said about budgeting, or as we like to call it, a spending plan. The best spending plan is going to be the one you can stick to. Each person’s goals and values will differ, and because of that, their spending and savings will be unique as well.

Time to Reflect on the Upcoming Year - Our Top 5 Financial New Year’s Resolutions

December 31, 2021 Retirement Insurance Estate Planning Cash Management Nick Prigitano

Setting New Year’s resolutions is a common practice for millions of Americans. Although we all know the stats about how frequently we fail to live up to them, it doesn’t mean we shouldn’t try. If we don’t set goals, then there is a 100% chance we won’t meet them. With that in mind, we have some typical, and not so typical, financial New Year’s resolutions to consider adding to your list for 2022.

Honey, They Shrunk the Package Size – What Shrinkflation Is and How It’s Plaguing Grocery Store Shelves

August 20, 2021 Families Cash Management Nick Prigitano

Does it feel like what you are getting at the grocery store isn’t going as far as it used to? When you buy a bag of chips, do you have the sneaking suspicion that it’s filled more and more with air, and less and less with the crunchy goodness we desire? If you’ve had the hunch that your money isn’t going as far as it used to, you wouldn’t be wrong. If you’re someone with kids, you may wish that you could reduce the size of your children like they did in the ’80s cult classic Honey I Shrunk the Kids, if only to reduce the amount of your food bill.

Creating a Savings Habit for your Kids with a Roth IRA

August 17, 2021 Families Cash Management Kyle Labelle

Arguably, one of the greatest financial lessons a parent can teach their child is how to delay gratification today for a more important goal in the future. This may be something that goes against evolution itself. That is why it is even more critical to instill this habit as early as possible. One way of doing so is encouraging your child to save in a Roth IRA. By starting your child on the path to saving at an early age, it may be possible to create the foundation to a successful retirement and overall financial wellbeing. The key to doing so lies with three key concepts: the Roth IRA, compound interest, and consistent contributions over time.

The Inflation of Everything

June 25, 2021 Retirement Cash Management

If you need to buy a house or a car in this market of rapidly rising prices, what do you do? Interest rates are low, inflation is high, every month that goes by the cost of what you want to buy increases. The amount home prices, and car prices, have grown over the past year is not the point (it’s a lot), but understanding the reason behind it can help you decide what the best path is for you.

Lumber, Gasoline, Inflation? Oh My! - What's The Deal with Inflation and What to Do About It

June 4, 2021 Cash Management Investments

The silent killer of many financial plans is the gradual increase of the price of goods and services over time, otherwise known as inflation. This mysterious villain is often neglected because these price increases are so gradual, they are hardly noticed day by day, until you reflect on what things used to cost 10, 20, or 30+ years ago. This has been especially true over the past decade when inflation has been so much less than in the past.

More Stimulus for Christmas - What to Know About the Most Recent Coronavirus Support Bill

December 30, 2020 Taxes Working Professionals Families Cash Management

This year has felt so long you may have forgotten, but at the end of March the Federal government passed the CARES Act which provided a slew of various benefits to assist individuals and businesses during the pandemic. Since then, there has been continuous talk of additional support being administered with no meaningful progress . . . until now. In the final days of 2020, Congress passed the Consolidated Appropriates Act of 2021, which includes additional coronavirus support, and in the eleventh hour was signed by the President. As before, there are many questions swirling about what sort of benefits individuals and businesses may see. Here are some of the key highlights of the additional support, and changes, from the recently passed bill.

Christmas in October? - Why You Should Consider Starting Your Holiday Shopping Early This Year

October 9, 2020 Families Cash Management

Does it feel like the holiday season begins earlier and earlier every year? The shopping season deals, and advertisements will be bombarding us before we know it. This year will feel even more different as more people will shop from the comfort of their own home rather than be greeted by the sweet sounds of Mariah Carey in the aisles of Target. If you're not following the holiday deals this year you might miss out on some serious savings. Here's what you should know about the holiday shopping season this year, and why it's going to be different than what you're used to.

How to Check the Status of Your Stimulus Payment

April 17, 2020 Taxes Working Professionals Families Cash Management

Near the end of March, the federal government passed the CARES Act. The bill provided an array of various stimulus measures. One of the most talked about were the $1,200 per person stimulus payments. At the time, the bill requested these payments be sent out as soon as possible, but it was unclear when these payments could be expected. Now, a few weeks after the bill passed, some individuals have started to receive their payments. However, if you're one of the many who have yet to receive their payment, there is a new IRS tool to track your payment and potentially update your information if needed.

How to Apply for Unemployment in MA - What You Should Know About Massachusetts Benefits

April 10, 2020 Working Professionals Cash Management

We've seen from the unemployment numbers that more and more people are losing their jobs because the coronavirus. We hope that this will only be temporary, and in the next few months life and work will return to normal. In the meantime, if you're one of the many who have lost their job or have had hours reduced, there are likely unemployment benefits you can apply for through Massachusetts. While this won't replace all your previous income, having some money coming in is better than nothing. In addition to the normal benefits through MA, the federal government recently passed the CARES Act which expands unemployment benefits along with other assistance for individuals and businesses. Here's what you should know about filing for unemployment in Massachusetts and what your benefits might be.