USALLIANCE Blog

At the peak of the holiday shopping season, right between Black Friday and Cyber Monday is Small Business Saturday. This day is designated to encourage people to support small businesses by shopping with them. According to the Small Business Association (SBA), the 28 million small businesses in America account for 54% of all sales in the country. Small businesses create jobs, build a demand for locally made products, and keep communities thriving. The lasting impact of the Coronavirus pandemic is continuously causing a crisis for the small businesses of America. So, ditch the Starbucks cup and grab a coffee at your local coffee shop and support #SmallBusinessSaturday!

Keep your finances intact while still enjoying the holiday gift giving tradition with these five tips:

There are many elements to a successful investment strategy, but they usually boil down to one basic concept—asset allocation. When you spread your retirement savings out among a variety of investment vehicles, you greatly increase your money’s earning power, at a level of risk that sits within your comfort zone.

Homeowners insurance is designed to protect you and your family members from liability and cover your home, plus possessions, in the event of disaster or theft.

Do you need to have a separate rainy-day fund and emergency fund? In an effort to simplify their money, people sometimes consolidate their accounts. This is OK in many instances, but it’s important to remember that rainy day funds and emergency funds serve different purposes. Additionally, it’s important to have not just one, but both funds available to tap into as needed.

Your home will likely mean many things over the course of your time living in it — dinners with friends, milestones with your children and/or partner, and a place of refuge when you need a break from the outside world.

Q:Should I take advantage of the dropping interest rates by refinancing my mortgage?

A: Refinancing a mortgage is essentially paying off the remaining balance on an existing home loan and then taking out a new mortgage on the same home, often at a lower interest rate. It may sound like a no-brainer, but there are many factors to consider.

Is it a good time to refinance?

Buying a home is a major life milestone. It’s a huge financial commitment and a commitment to your future. As such, it can bring up any number of emotions — excitement, hope, fear — all of which can add stress to an already heavy decision.

If you struggle with debt, you’re not alone. Between credit cards, student loans, mortgages, and car payments, the vast majority of Americans carry some sort of debt. Whether it’s to afford college, move into your first home, or deal with an unexpected health issue, there are endless reasons why you might need to rely on a financial cushion.

In the age of credit cards and mobile payments, it’s easier than ever to buy stuff you can’t pay for right away while supporting a lifestyle you can’t really afford.