No matter your wealth status, you’re at risk for overspending. And most Americans do, according to research, spend beyond their means — often leaning on a credit card to pay for the things they can’t truly afford. Find Out: Warren Buffett: 10 Things Poor People Waste Money On Read Next: 8 Common Mistakes Retirees Make With Their Social Security Checks Putting an end to the dangerous cycle of overspending can be incredibly tough, partly because you need to not just change how you spend, but how you think and possibly how you live. It’s a heavy psychological and philosophical process — but it can be done. Financial expert Rachel Cruze shared how to do it on her blog on Ramsey Solutions. Here are eight ways to stop overspending now

Nothing beats the confidence of knowing your financial future is secure, especially if you're a high-income earner eyeing a comfortable retirement. Imagine pouring cash into a retirement account and watching it become the nest egg you need. Sounds fantastic, right? That’s long been the promise of the Roth IRA, which unlike 401(k) funds can be tapped tax-free in retirement. But there’s a catch: the IRS may not let you do it, at least not directly with a Roth IRA. Picture this scenario: you’re single, earn a comfortable $200,000 annually and meticulously plan for retirement. You know you'll likely retire in an even higher tax bracket, so you're determined to secure those juicy, tax-free Roth withdrawals

The pandemic was tough for everyone. Many people ended up having to borrow money when the economy was shut down. If you built up $10,000 in debt on your credit cards to survive the pandemic, you need to explore your options for getting back on track. Here's how you can be proactive in dealing with your card balance so you can move on as quickly as possible. Credit card debt can be hard to pay down because the interest rates are so high — an average 21.47% as of November 2024 — and minimum required payments so low. It may be tempting to pay the bare minimum, but because minimum payments only cover interest and a little principal, it could take decades to become debt-free