Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
When it comes to money terms, people tend to be intimidated about asking for clarification. They’re afraid it’ll make them look uninformed or stupid, but this isn’t the case: there’s nothing wrong with asking for a definition. (Chances are, someone else in the conversation will be wondering the same thing.)
But just in case you’re not quite ready to admit your newbie status in public, here are the definitions of five terms you might have pretended to understand the last time you heard them:
1. Stocks
Okay, you’ve seen Trading Places, and you know stocks are what traders buy and sell on the stock market — but what exactly are they?
A stock is a partial ownership in a company, and the expectation from purchasing stocks is that their value will change. Your goal is to earn money from this changing value. Most people do this by buying a stock now at a low price, then selling it later at a higher price. This is called a long sale. [ continue reading… ]
If you spend a considerable amount of time reading up on personal finance, you may feel guilty about spending money on yourself. It’s as if you’re a failure for spending money on something you enjoy — but which others may deem frivolous. When it comes to money, however, there should be an equal balance.
Money is a tool. It’s meant to help you build a better life. And, while saving and investing are certainly important, so is enjoying your life now.
With that being said, here are three things I allow myself to spend money on guilt free: [ continue reading… ]
Few things can strike dread into the heart of the average American like tax season. Considering the complexity of filing taxes — and the potentially high stakes for making a mistake — it’s no wonder that anywhere from 20% to 25% of taxpayers wait until the two weeks before April 15 to prepare and file their taxes.
Unfortunately, there’s not a lot you can do to make tax season easier or more enjoyable — but you can avoid some of the mistakes that accountants and tax preparers see over and over again.
Here are the top four mistakes your tax preparer would love to help you avoid: [ continue reading… ]
In the last decade, online savings accounts have become commonplace. Not only do they traditionally yield better interest rates on your savings (for instance, the difference between 0.5 and 3%) — they cost both banks and consumers less money to operate.
Although some people have switched from traditional savings accounts to higher-yield online savings accounts for longer-term investments, the concept of online checking accounts hasn’t become as popular. This may change when more people catch on to their growing benefits.
Like online savings accounts, online checking accounts charge fewer service fees, don’t require minimum balances, and are extremely convenient for those who are technologically inclined. Until recently, however, there weren’t any other major incentives for switching to online banking — and, admittedly, most people want immediate access to the funds in their checking, which is a feature most online formats struggle to provide.
As of recently, that is no longer the case.
What’s the big, ground-breaking development in online checking accounts? Many of them are now interest-bearing, and significantly so. [ continue reading… ]
Four years ago, I started my life as a blogger. I was delighted to be bringing in the extra income, but I didn’t think about the tax implications. As an independent contractor, there were exactly zero taxes taken out of my pay.
That same year, our adjustable rate mortgage adjusted down, resulting in less interest paid towards our mortgage and less deductions to claim on our taxes. Together, those two events resulted in a tax underpayment of $2,000 the following April.
We were still in the first year of our debt management plan, and our budget was extremely tight. We didn’t have the funds to pay, nor did we have a credit card or line of credit to use. I gave the IRS a call, explained the situation, and asked what our options were.
The gentleman on the other end of the phone gave me five priceless pieces of advice: [ continue reading… ]
This has been a crusade of Orman’s for a while now. Back when she released her branded pre-paid debit card, the Approved card, she said that TransUnion would examine and consider the debit information. It wouldn’t impact credit scoring, however; it would just be an experiment to see if debit transactions mattered.
Free signup to get a free ebook on How to Save Money on Everything! Constantly expanding, it will be the biggest money saving ebook available, and it's FREE! →
(I hate spam and promise that your information will never be shared.)
