Free From Broke

A Personal Finance Blog for Regular Folks

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How We Manage Our Finances on the Road

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This guest post is from Wifey of a Roadie, where M shares her tips and tricks as she and her husband travel the world.

Hi Everyone! Wifey of a Roadie here!

I’m reading all these informative and entertaining blogs on debt control and travel and therefore have been inspired to write this post.

Juggling Love and Careers

Some people have asked how in the world my husband and I have managed to stay together and travel so much.  When my husband got offered his first job to tour with Queen Latifah, he was told to ask my permission to accept because marriages don’t last in this business.
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Kids & Money – The Financial Apple Doesn’t Fall Far From the Tree

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For those of us with kids, we hope to pass down certain traits—good looks, agility, perfect vision, smarts, business savvy. But what of our money management skills?  Financial finesse rarely makes it onto our list of personal strengths, yet it’s a crucial life skill everyone needs to acquire.  A Charles Schwab 2010 Families and Money survey found that “not saving early enough for retirement (43%), not saving money for emergencies (42%) and carrying credit card debt from month to month (30%) [were] cited as the top three financial mistakes [parents] fear their kids will repeat.”  Don’t let your kids make your same mistakes or fall into that ever-growing percentage of 18-24 year-olds who file for bankruptcy.

Here are 4 simple things to do differently (or start doing) as a parent, to ensure your kids gain financial awareness from an early age and build responsible habits.

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Brokers Should be Legally Liable to Act in the Best Interest of Their Customers

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A little while back the S.E.C. recommended that stock brokers be required to act as fiduciaries. This would mean they would have to act in the best interest of their customers.  The New York Times reviewed the salient issues on their Bucks Blog.

We think this is a no-brainer: OF COURSE brokers should act in the best interest of their customers – and they should be legally liable if they do not.
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IRS Tax Credits and Deductions to Save on Your Taxes if You Have Kids

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These child tax credits and deductions can mean a tax refund for you!

There are many money-saving tax credits and deductions that can reduce the tax burden on families with children. The Child Tax Credit, Child Care Credit and the Earned Income Credit can all mean tax savings for families with one or more children.  Remember, a tax credit is a dollar-for-dollar reduction of the taxes you owe.
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What Are Dividends?

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What Are Dividends?

Dividends are a portion of a company’s earnings that is returned to shareholders.  When a public company is profitable, they primarily have seven methods to invest their profits:

1.     Hire new employees

2.     Pay existing employees a higher salary

3.     Purchase equipment and/or services

4.     Merge or acquire another company

5.     Purchase stock shares on the open market (otherwise known stock buyback)

6.     Distribute the profit to shareholders (otherwise known as dividends)

7.     Do nothing and save it for a rainy day.

This article discusses primarily number six.
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