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

5 Financial Considerations Before You Quit Your Job to Be Your Own Boss

financially_ready_quit_job_own_boss

For many, the dream of working from home is a strong inducement to quit a job.

After all, if you could be your own boss and set your own hours and still make a living, wouldn’t it make sense to walk away from “the man”?

Quitting your job is about more than just making sure that you have enough income from your side hustle to replace the income from your day job.  You might not realize all the benefits you’re getting from your current job.  You will need to a way to make up for those losses as well.

Before you take the plunge and quit your job, here are a few questions you should have answers for:

Continue Reading

Government Shutdown, Debt Ceiling Crisis, and Links

The United States federal government has been shut down since Tuesday.  Thousands of workers are furloughed, national parks and monuments are closed, and Congress is still getting paid.

What’s worse is this may not be the biggest crisis the US faces this month.

Later in October — or early November at the latest — the Treasury department will hit the “debt ceiling” and max out its credit line.  The debt ceiling is a legal limit placed on the Treasury by Congress that says the US cannot have more than X amount of debt.  That amount right now is $16.699 trillion.

Both parties have said they will have no part in a United States default on debt due to not raising the debt ceiling, so that’s encouraging.  Yet each day that rolls forward means we are getting closer and closer to not being able to make our minimum payments on all of our obligations.  If we default expect widespread chaos in financial markets, Treasury bill interest rates, and the value of the dollar.

Let’s hope it doesn’t come to that.

Maxing out your credit cards, too? Can’t seem to control how much you spend? Here are some articles to help you out:

Continue Reading

Not Every Baby Is Born Into Royalty But Yours Can Still Prosper

set_child_up_like_royalty

Prince George, or Georgie, as he will be called, was born in July to much fanfare and anticipation. 

What does it mean to be born into the House of Windsor?   Even though he likely won’t exert his political power when he becomes king, he will still be influential.

And he will be worth a pretty penny. 

According to International Business Times, he will inherit 700 million pounds.  There’s no doubt little Prince George is already one of the wealthiest babies in the world.

Of course, not every baby is born into royalty, with the proverbial silver spoon.  Chances are, you probably wouldn’t want that life for your child anyway.

While you may be from modest means, you CAN help your child get a financial advantage over many of his peers by taking important steps when he or she is young.

7 Ways to Set Your Child Up Like Royalty

Continue Reading

All About Online Checking Accounts – Why Pay More Fees Than You Have To

best_free_online_checking_accounts

Don’t you hate it when you look at your checking account and see less money there because of fees you were charged?

And isn’t it annoying when you look at the requirements of checking accounts of many traditional/brick and mortar banks?  (Are you checking the requirements?  Gotta ask.)

They say they have free checking but you have to fulfill a maze of requirements: have a direct deposit with them, have an account balance of at least X for the month, stay under Y transactions… It’s hard to keep up!

blank_checkSo what options are out there?  Free online checking accounts!

As technology and the internet have grown, companies have stepped up and recreated the wheel, so to speak.  A number of banks have introduced free online checking accounts that are easy to use and full of features.

And because these companies are online and don’t have to manage physical bank locations, they can offer their customers more benefits such as higher interest rates, cash back rewards, and free services like bill pay – all nice bonuses in addition to a free online checking account.

Are you not with me yet?  Fine.  Understand that there are many checking accounts out there that are chock full of serpentine fees just waiting to suck your hard-earned money out.

These Are some Common Checking Account Fees You Want to Avoid

Continue Reading

Would You Continue to See Your Doctor If He Stopped Taking Insurance?

Calculate_Health

After I graduated from grad school, I paid my teaching dues by working as an adjunct instructor at three different community colleges and working part-time at a social services office. 

The pay for all of the jobs was lousy, and I had no health insurance.

I wasn’t brave enough (or stupid enough, depending on your view), to go without health insurance completely.  I paid for a catastrophic insurance policy that was fairly low cost, but would only pay for incidents over $5,000.  I was sick a few times that year, and though I would have liked to have gone to see the doctor, I simply didn’t have the money to pay for the entire doctor’s visit myself.

Unfortunately, many others are in this same position.

The Health Insurance Crisis

When we think about the health insurance crisis, we often think about those without insurance or those who go bankrupt thanks to outrageous medical bills.

As consumers, what we often fail to see is the flip side can be just as frustrating for doctors.
Continue Reading

iPhone 5S Sells Out While Blackberry Posts a $1 Billion Loss and Links

What a contrast.

Apple’s hyped iPhone 5S sold out within 24 hours of being launched and won’t be available until October at the earliest. (Supply chain problems, anyone?)

Meanwhile Blackberry, the former smartphone heavyweight, posted a $1 billion loss and announced it will be cutting 40% of its global workforce.

Will Apple be able to avoid the similar fate?  Despite selling out the iPhone 5S many critics have been unimpressed with Apple’s ability to truly innovate the iPhone.  Perhaps that is natural as there is only so much you can do with a smartphone, but where will the next blockbuster product come from?

Don’t sit back on your previous success like Blackberry did. You need to constantly push forward with your finances. Here are some good reads to encourage you to do just that:

Continue Reading

The Trick’s On You If You Pay Too Much For Halloween Costumes!

frugal_halloween_costume_tips

Halloween is great fun!  I can honestly say it’s one of my favorite holidays.

Here’s the one holiday where you are allowed to dress up and go around asking people for candy.  And they give it to you!

I remember how exciting it was going around town in my Halloween costume, getting candy from all of the neighbors.  Some years I would really score.  We’d go visit my grandparents in the Bronx and go up and down their apartment building visiting as many doors as I could (don’t worry, the grand’rents and the ‘rents made sure all the candy was good to eat).

And do you remember those old Halloween costumes?

You know the ones that came in a box and it was made up of a thin plastic mask with eye holes that hurt and the mask would be full of sweat before long (because it was a big piece of plastic covering your face) and it was held onto your head with an elastic string with a couple of staples that usually didn’t last the night and the body of the costume was a plastic sack-like piece you climbed into which also didn’t make it through the night?

Those were great!

I remember one year I was Chewbacca and another I was Yoda ( I remember terrorizing my younger sister with those masks too.  I was such a stinker!).  I’m sure I was Superman and Batman as well.

I love being able to go through all that now through the eyes of my kids.

But have you seen the price of Halloween costumes these days?!?
Continue Reading

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