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We all have more than a few well-intentioned New Year’s Resolutions that never make it to February. We mean well, and we try hard to stick to our life-changing plans, but it seems inevitable that we’ll fail.
Why? While I can’t speak specifically of your goals and resolutions, I can guess that many of you share the same problem I’ve had in years past: poorly crafted resolutions.
If you want to make lasting financial resolutions, you have to include a certain level of detail in your goals. Read on to find out what I mean.
When it comes to purchasing life insurance, you have several choices. My wife and I have been looking for a way to allocate our finances and create a life insurance plan. We have discussed a number of different options, and whole life insurance has been part of the conversation. This type of insurance carries a death benefit and accumulates cash value as money is added. We have been weighing the pros and cons, which I will discuss below.
My first apartment out of college had a consistent plumbing problem: the shower in the bathroom directly above the kitchen (which happened to be my bathroom) leaked each time it was used.
My roommate and I called the maintenance department several times. Although they could see the damage to the kitchen ceiling, they could not get the shower to leak when they tested it, even after attempting to on three separate occasions. After the third visit, they decided the problem was “fixed” and said they wouldn’t be back.
And of course, the shower leaked the very next time it was used.
My roommate and I discussed our options. Thankfully, we mentioned the issue to an older friend who told us that our plan to withhold rent until the problem was fixed was illegal. Instead, we needed to put our rent in escrow.
Within two days of placing our rent in escrow, the leak was identified and fixed, as was the kitchen ceiling. If only we had done it earlier!
Many renters are similarly unaware of their rights and responsibilities when they have a beef with their landlord.
Here’s what you need to know about resolving disputes with your landlord:
A calculator and a pen used to be essential for filing taxes in the good old days, where hours are spent trying to compute everything by hand. This often led to frustrations, as many people edit their numbers again and again because of simple mathematical errors.
Luckily, most of us don’t deal with paper returns anymore, as computer software modernized the way we file. Answer a few questions about your situation, and the whole return is completed automatically. I’ve heard of people spending a total of 10 minutes filing their taxes each year, which is impossible without the new computer technology we have today.
But be careful with relying on too much automation. Here are a few dangers to consider before you totally trust tax filing software year in and year out without question. [ continue reading… ]
While I love getting together with friends and family for the holidays (parties are a great December activity, after all), I don’t like the effect these get-togethers have on my budget.
I don’t mind splurging on those I love, but, if you’re not careful, footing the bill for a holiday party can easily become a financial strain.
With the US Congress in a fuss over financial changes scheduled for the beginning of next year, the “fiscal cliff” is approaching. The left and right cannot seem to agree on what’s best for the country, so changes seem unavoidable.
This set of changes would affect federal spending and tax laws, and in turn, nearly every American.
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We all have more than a few well-intentioned New Year’s Resolutions that never make it to February. We mean well, and we try hard to stick to our life-changing plans, but it seems inevitable that we’ll fail.
