Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
Recently, I received a call from a number with a Washington, D.C. area code. On the line was someone claiming to be from the IRS, and claiming that I owe taxes. For a second, panic clutched at me; however, I quickly regained my senses and hung up the phone.
It’s a scary thing to think that you owe taxes. Even when you know you don’t owe anything, there’s still an unreasonable sense of fear. At the very least, such a call prompts panicked feelings that you’re going to have to fight the government to prove you don’t owe anything.
If you get such a call, though, don’t let fear cloud your judgment and lead you to do something foolish, like actually send money to the person on the other end of the line. [ continue reading… ]
As if the unemployed don’t have enough to worry about, there are tax implications to prolonged unemployment (not all of them bad). Here’s what you need to know about filing your taxes while jobless. [ continue reading… ]
In case you’re not familiar with the term, flexible spending accounts (FSAs) are employer-offered healthcare accounts that allow you to set aside and use pre-tax pay for miscellaneous healthcare expenses not covered by your insurance.
While the concept of setting aside funds for medical incidentals sounds like a great idea, only about 20% of employees that are offered FSAs take advantage of them. This is due to the fact that, in the past, the government enforced a “use it or lose it” policy. In other words, if you hadn’t spent your FSA by the end of the year, you’d forfeit it.
This was a discouraging policy, since healthcare expenses are as unpredictable as the future. The government, however, was concerned that if participants were allowed to set aside and roll over an unlimited amount of pre-tax funds, they’d be more likely to abuse the funds for non-medical purposes.
But, there’s recently been a change to the 30-year-old FSA policy: FSA participants will now be allowed to roll over up to $500 for the following year’s expenses. [ continue reading… ]
I, for one, love reading a good personal finance book. Back in the day, when I first picked up The Total Money Makeover, I vowed to follow Dave Ramsey’s advice to the letter.
Through personal finance books, I learned how to pay off my debt faster, the importance of saving for an emergency, and why I needed to start saving for retirement now. Over the years, however, I’ve also learned that clinging on to every piece of advice that “finance gurus” throw out can backfire.
Here are three personal finance gurus who have recently come under fire. [ continue reading… ]
Earlier this year, my husband applied for a job in Minnesota. It looked like we might need to move — and move fast. In the end, though, his current position provided him with just enough that it wasn’t worth it for us to move halfway across the country.
My husband’s current position doesn’t pay more money than the other job; while he received a small bump in pay, it still doesn’t match what the new position would’ve offered. However, making a move to another city for a job shouldn’t just be about the money. There are other factors to consider. [ continue reading… ]
Apps make life so much easier. Whether used for discovering new restaurants, looking up directions, or listening to music — they’ve become an everyday part of our lives. But the most gratifying apps are those that save you money — or, better yet, those that make you money.
Here are seven of my favorite money-saving apps. By using (and loving) them, you’ll be on your way to a better financial life. [ continue reading… ]
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