Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
There’s still another month or so of summer, but it’s time to start thinking about back-to-school supplies if you’re a parent or student. And, if you’re like most families surveyed by the National Retail Federation, you’ll be spending a little more than last year — as much as 9.6% more.
Market analysts consider it a good sign when we consumers feel comfortable spending more money, but most of us are always looking for little ways to save too. If that’s the case, you might want go shopping… this weekend.
This Weekend?…What? You’ve probably heard August isn’t the ideal month to shop for school supplies, and that’s mostly true. Many of the more expensive items (minus laptops, which are at their all-time low) are less expensive to buy after Labor Day if you can wait. The clincher is that August is the month most states offer what’s known as a “tax-free” shopping weekend specifically for back to school supplies. [ continue reading… ]
If you’re drowning in debt, it can seem as though there’s no way out. And it doesn’t help that creditors could be calling you — maybe even your family members and neighbors are looking for you. It may seem that you are at the mercy of debt collectors, but the truth is that you have rights, and you have protections from unscrupulous collectors. The Fair Debt Collection Practices Act (FDCPA) spells out practices that debt collectors can’t engage in. So, know your rights, and don’t be afraid to report debt collectors who violate these 6 provisions in the FDCPA:
1. Debt Collectors Have to Stop Calling If You Tell them To
The hitch? You have to do it in writing. So, if you don’t want debt collectors to call you anymore, you need to write a letter (keep a copy for yourself) and send it along. I recommend using certified mail to prove the debt collector received the letter. After receiving your request, debt collectors can only contact you, by mail, to let you know of certain actions that will be taken (including a lawsuit). [ continue reading… ]
One of the ways that many people achieve financial freedom today is to start freelancing, as being self employed provides a degree of freedom while still allowing you to make money.
However, when you transition to freelancing from working a “real” job, there are a few things you are likely to take for granted. Here are three mistakes that many freelancers make with their money when starting out:
1. Failure to Report Your Income (and Pay Taxes)
When you work a traditional job, your employer withholds your taxes. In fact, your employer also pays half your payroll tax. As a freelancer, you are responsible for reporting your full income and making sure that you pay taxes. You are also responsible for your entire payroll tax amount.
The IRS expects you to make quarterly tax payments, so it’s important to remember to make those regular payments. Plan ahead with your finances, setting aside money each month so that it’s more manageable to make your quarterly payments when they are due. [ continue reading… ]
What I love about personal finance is that everyone’s situation is unique. Yet, the more the details are different, the more the solutions stay the same.
What’s more interesting is that even though the majority of us struggle to achieve financial freedom, the methods are simple and for the most part, we already know them.
We already know that the key is to earn more than we spend. Yet, we struggle with controlling our expenses.
We already know not to buy high and sell low. Yet, we unknowingly fall into the trap of buying the latest hot investments.
Lifestyle inflation is a real phenomenon that I’ve surprisingly seldom talked about. Basically, it refers to the strikingly true fact that most people increase their spending as their income increases no matter how much or how little they earn.
Stepping up the standard of living ladder is fun but it absolutely sucks for people who have to scale back. Now that we are expecting our first child, we should not only think about the danger of our own inflation bubble but also of our children’s. My parents always reminded me that they were very happy making their own games with paper. In fact, they said it was one of the happiest times of their lives. But in this day and age of Nintendo Wiis and Sony Playstations, kids would look at you like you are crazy if you even hint at playing those paper games. It’s not that the games of old are no good. It’s just that they are used to much more complication toys. [ continue reading… ]
We all know that paying for a higher education is more difficult than in the past because the cost of education is on the rise. As a result, there is a chance that you might need to get student loans to pay for your education. After all, sometimes there are college funding gaps even after you save money for college, get a job, and apply for scholarships.
Getting a student loan doesn’t have to be the end of your finances as you know it though. Here are a few tips so you don’t end up like those featured horror student loan stories. [ continue reading… ]
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