Free Newsletter to Keep you Free From Broke!Name: Email: We respect your email privacyPowered by AWeber email marketing

Do You or Your Spouse Handle the Finances Solely? Why This Might Not be a Good Idea

When a couple gets married, one of the first things that have to decide is who will pay the bills and make financial decisions.

Ideally, both people in the relationship would make joint decisions and have open discussions about their finances, but unfortunately, this seems to rarely happen.  Instead, they may talk out large purchases, but the day to day household spending, budgeting and bill paying seems to fall on one partner.

This is generally a bad idea for both parties.

What Can Go Wrong When One Spouse Handles the Finances Solely

Continue Reading

Still Want a Deduction for Tax Year 2011? It’s Not Too Late

Now that 2012 is underway, many are concerned that it is too late to log more deductions for 2011.

For the most part, you’re out of luck: It’s too late to sell those losing investments for a deduction, or donate to a charity for a 2011 deduction.  December 31 has passed, and many of your chances to lower your taxable income have passed along with the old year.

However, it’s not too late to squeeze in a couple other tax deductions.

Indeed, you have the opportunity to find new tax deductions if you can contribute to a Health Savings Account or a traditional IRA.  You have until April 15 to make contributions to traditional IRAs and HSAs for the previous tax year (this year April 17th). Continue Reading

To Do This Year: Buy Renters Insurance

Since 2008 and 2009, owning a home is about as in style as teased hair.

As foreclosures continue and people end up selling their home for less than what it was worth, renting has become the new way to live.  Not owning a home takes away the investment risk that is inherent in home ownership.

If the housing market would continue to falter, you’re not out anything.

Because of the distaste towards home ownership, renting has taken off.

Rental rates continue to rise and the amount of highly sought after apartments or homes continue to fall but according to a recent survey, 57% of renters are missing an important piece of insurance:

Renters Insurance!
Continue Reading

Alternatives to Joining the Gym

dumbells_gym

Every new year, people resolve to lose weight and get in shape.

One of the ways they often try to do this is to join the gym.

If you go to any gym around the country in January, you will notice that it is packed with well-intentioned people; however, come March, what does that same gym look like?

Suddenly it is much easier to use the equipment because there are fewer people waiting in line.

Resolving to lose weight and/or get in shape is an excellent goal for the new year.

Not only will you feel better, but you could likely save your future self money by proactively taking care of your health and avoiding high medical costs in the future related to excess weight.

However, joining the gym and spending a great deal of money upfront is not necessary as there are many other, more frugal, ways to lose weight and get in shape.

Alternatives to Joining the Gym

Continue Reading

What Do You Think of New Year’s Resolutions?

Happy-New-Year

This is the time of year where you come up with a list of resolutions for the New Year.

Some want to exercise more.  Others simply want to lose weight.  Some want to save more money, while others want to get out of debt.

What do you think of New Year’s resolutions?

I’m not sure what to think, to be honest.

On the one hand, I think it’s important to have goals.  A great goal that you follow through on give you guidance and something to aim your energies towards.

But I think setting a resolution or a goal just because the calendar changed is a bit odd.

Why not set goals throughout the year?

My Problem with Most Resolutions

Continue Reading

Three Stories That Prove Consumers Still Have Power

Stop_protest

There’s a story that the media has missed in all of their 2011 wrap up stories.

It’s one of those rare feel-good economics stories that deserves to be relived because in 2011, one group above so many others who tried, showed that they have far more power than what they thought.

It’s not a story about Wall Street bankers, Washington politicians, the Tea Party movement or even the Occupiers.

It’s about you.

You, the consumer, showed that when you speak, you can influence the actions of the world’s biggest companies.

Not convinced? Continue Reading

4 Ways to Save on Taxes with Mutual Funds

We normally think of mutual funds as investment vehicles—which they are—but they can also offer valuable ways to save money on income taxes this spring and beyond.

There are steps you can take with mutual funds right now that can lower your tax liability either for the 2011 tax year or, failing that, for 2012.  Yes, there are ways to save on taxes with mutual funds!

Some of these are time sensitive, so you’ll want to either make your moves now, or position yourself to be able to take advantage when tax time comes around next year.  The important thing is to move on this — the windows close quickly.

Municipal Bond Funds

Continue Reading

Free Newsletter to Keep you Free From Broke!Name: Email: We respect your email privacyPowered by AWeber email marketing