High Yield Savings Account – HYSA    There are a lot of references made in the media to high yield savings accounts (HYSA).  The accounts operate very similar or the same as checking or savings account.  The money on deposit earns interest paid monthly.  Check around as different places offer differing rates and have different restrictions.   If you have money sitting in a savings account at the bank only earning 1% you are losing money each day. First, check with the bank yo

Having a healthy financial mindset is key for financial wellness.  A financial mindset refers to one’s beliefs, attitudes and behaviors...

The Doctor's Momma Financial Wellness Coaching   How to Be in Control of Your Finances     I don’t think anyone gets up and says, “I...

Writing out your financial goals can be a powerful first step toward achieving financial success. If this is new for you, start with a foundational goal like organizing your personal finances and creating a plan to achieve your objectives for the year. To make your goals effective, they should be SMART : • Specific • Motivational • Attainable • Relevant • Trackable Example of a Specific Goal: Build an emergency fund equal to three months of living expenses within the next six

Don’t File Your Taxes Just Yet… Before filing your taxes this year, consider opening or contributing to an  IRA or a Roth IRA . Making an IRA contribution could potentially save you money on taxes while also securing your financial future—a win-win! Understanding Individual Retirement Accounts (IRAs) The  Individual Retirement Account (IRA)  was introduced in 1974 under the Employee Security Act and became popular with the  1981 Economic Recovery Act . Originally, these accou