Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
It’s a fun game, isn’t it? Imagining you have won a million dollar windfall and trying to figure out what you would do with it. Or, a different scenario: you work your butt off for 40 years, saving and investing wisely, and eventually get to a net worth of a million dollars. Phew. Now what?
A Million Dollars Isn’t That Much!
I think we’re all very aware that a million dollars isn’t what it used to be. In either scenario, whether you have worked and accumulated a million dollars, or whether you’ve received a windfall, you absolutely cannot go crazy and start spending uncontrollably. Let’s take a look at what you CAN do with a million dollars. [ continue reading… ]
Doing your own taxes seems to get harder every year. It seems like there’s little reason to try to struggle through the process when inexpensive tax preparation services pop up like mushrooms this time of year and there’s even free software available online.
The Tax Code is Tough, Not Impossible
I’ve done my own taxes on occasion. These days, though, I don’t dare to try to go through the whole process without an accountant handling the tough parts. I simply don’t have enough time to spend on learning the details of every bit of tax preparation — although my situation is a little more complex than other folks’ might be. I have a company of my own, with income coming from several different sources. Let’s just say that I was very happy to be able to hand over the headache of preparing my taxes to someone else. [ continue reading… ]
One of the scariest things in finances is the tax audit. We all like tax refunds, but no one wants to be audited. However, consumer tax guide publisher J.K. Lasser points out that more than 1 million taxpayers are audited each year. When you consider the tens of millions pay taxes, you realize that chances are good you won’t be audited. However, it is still possible that you will be chosen for a tax audit. In some cases, it is only a matter of sending in some bit of documentation that is missing. Other cases, though, require a little more attention. Here is what you can do if you are audited: [ continue reading… ]
Buyer’s remorse is quite common. Many people feel sad, let down or guilty after making a purchase. This is true for impulse purchases as well as those planned for some time. In certain cases, the remorse will be so strong that the item will be returned, even if it is in no way defective.
If you suffer from frequent buyer’s remorse, examining your feelings can teach you a lot about your spending personality and give you the tools you need to make better choices. Understanding why we buy and how it makes us feel afterward gives us insight into our needs and values and where we fall short in fulfilling them. [ continue reading… ]
Fortunately, we are a long way from the day that purchasing an inexpensive computer monitor meant that you were getting a dud. If you have been around to watch the progress of computers from the days before monitors, to orange and green screens that were as large as a small fridge and on up to the LCD screens of today, then you can really appreciate the progress. I remember when a machine with 128K – yes K – cost a couple thousand dollars. Needless to say, things have processed but best of all, prices have dropped. [ continue reading… ]
When it comes to being a father, teaching your children about the facts of life, or other slightly embarrassing subjects, is often something we would rather leave to Mum. Often men are more comfortable teaching the kids about things like how to chop up firewood, or mow the lawn. It is no surprise then that when I was asked to teach the kids about money and finance I was right up for the challenge.
“This will be easy”, I thought. Then I stopped and began thinking about what I would actually teach them. What angle should I take? Was it too early to warn them of the dangers of sub-prime mortgages or should I keep things simple? [ continue reading… ]
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