No more greasy burgers for you. No more frothy Frappucinos, hold the whip. No more fresh new duds just because you deserve it.
All great decisions, but you must also ask yourself, “how much am I really saving?”
Are you saving enough to pay off all your bills? Are you significantly reducing the strain on your wallet?
Probably not. Saving $10-15 a week will never make you rich. It will help to ease your burden a bit, but little else.
The end of a marriage is not only tragic, but it also leaves a number of logistical and financial problems in its wake. One of the issues that many separating couples may need to educate themselves about is how a divorce will change their tax burden. Here are four topics that might make the first year of tax-paying after divorce more complicated — and how to deal with them:
1. Filing as married or single depends on when you got divorced. You can continue to receive the tax benefit of filing jointly as a married couple only if you were still officially married for the entire tax year in question. For example, if you are in the process of a divorce that will be finalized in January of 2013, you and your spouse can still claim a married status on your taxes for 2012. If, on the other hand, your divorce is finalized in December 2012, then you will both have to file as single.
Filing as head of household is one possible way to avoid the marriage status conundrum and still save some money on April 15. In order to qualify for this status, you must file your return separately from your estranged spouse, you must have lived apart from your spouse for at least the last six months of the tax year, you must have paid over half of the cost of maintaining your primary residence, and you must be able to claim your child or children as your dependent.
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Summertime is here! And with the warm weather comes fun in the sun and a whole host of new woes that go along with blistering heat and moist humidity. Here are 7 frugal ways to deal with common summertime ailments without breaking the bank.
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All of us feel as though we aren’t in control at times. I know that there have been times when I don’t feel in control of where our money is going. Sometimes, I don’t feel in control of what is happening in my life, or in my work. I feel swept along by events, and unsure of what will happen next. At times like these, it’s tempting to throw my hands up, and abdicate all responsibility for what comes next.
However, this only means that I really won’t be able to control what happens next in my life. There are times when it’s vital that you just seize control, and be ready to take the next step in your life. This means that you need to focus on what you can control, right now.
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On the other hand, a popular idea that’s been floating around the internet is passive income. The idea of it is that money is being earned with or without our involvement. Once it’s set up, the recurring income will come continuously.
Anyone can quickly see why this idea is popular. Here are three extremely good advantages:
Provides Freedom [ continue reading… ]
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