Is a Car Loan Better Than a Personal Loan for Buying a Vehicle?

By Posted in Personal Finances Leave a comment
You might be looking to upgrade what you're currently driving. If you're in the market for a brand-new vehicle, there are several ways to secure the money that you'll need in order to make your purchase. You can either take out a personal or auto loan, both of which can be used to buy a car or truck. Understanding the pros and cons of each can help you to make your decision on which one to choose. By securing the money that you need to buy your new method of transportation, you're preventing you Read more [...]

Here are 7 Taxable Items That May Surprise You

By Posted in Taxes Tagged , Leave a comment
The United States tax code is complex. It’s chocked full of details, including information about what is and isn’t taxable. The tax code is shockingly long and incredibly challenging to decipher, particularly for anyone who isn’t trained in accounting or finance as it relates to taxes. As a result, most people don’t know everything about taxes, including, at times, issues that pertain to their own situation. That can lead to some startling realizations when tax-filing season arrives Read more [...]

5 Charity No-No’s for The New Year

By Posted in Taxes Tagged , Leave a comment
When the Tax Cuts and Jobs Act (TCJA) of 2017 went through, it essentially doubled the standard deduction. This led many households to reevaluate their charitable giving, mainly because they had to reevaluate their tax strategy. With the new year now underway and tax season drawing near, it’s smart to plan for your charitable giving for 2020. With that in mind, here are five charity no-no’s you should keep in mind. 1. Assuming Your Political Donations Count Since 2020 is an election Read more [...]

Lasting Resolutions for a Great 2020

By Posted in Personal Finances Tagged , Leave a comment
When it comes to New Year’s resolutions, only 8 percent of Americans actually end up achieving their goals. Usually, this isn’t because they lack willpower. Instead, it’s because they weren’t realistic, didn’t choose something measurable, or selected a target based on what people expect, not what they actually wanted. Luckily, it is possible to create lasting resolutions. You just have to use the right approach. If you want a great year, here’s how to choose resolutions for 2020 that Read more [...]

Here’s How to Pay off Your Car in 1 Year

By Posted in Staples How To Tagged Leave a comment
If you have an auto loan, your car payment may be one of your largest monthly expenses. Plus, it’s a long-term financial obligation. Some lenders have terms that stretch out for 66, 72, or even 84 months. With longer repayment periods, you end up spending a lot in interest. As a result, working to reduce your balance quickly is a smart idea. If you want to pay off your car in one year, here’s how to go about it. Know Your Principal and Interest Rate First and foremost, you need to look Read more [...]

Sell Losing Stocks to Pay Less in Taxes

By Posted in Taxes Tagged , Leave a comment
As the year draws to a close, many people examine their financial situation. At times, the goal is to take last-minute actions that can lower your tax liability. If you have some losing investments, selling those stocks could help you reduce what you owe. With the tax-loss harvesting strategy, you can reduce what you pay in capital gains taxes. Here’s a look at how it works. How Tax-Loss Harvesting Gives You a Tax Break With tax-loss harvesting, you sell losing stocks to reduce the tax impact Read more [...]

How to Quit Your Day Job & Stay Financially Viable at the Same Time

By Posted in Personal Finances Leave a comment
For many people, quitting their day job is something like a dream. They’d love to walk into their office, look their boss straight in the eye, and quit right there on the spot. But, this scenario is often just a fantasy. Something people wonder about while waiting for a bus or in line at the grocery store. The truth is that few people actually go through with leaving a job they hate because they’re worried about their financial security. After all, if you don’t have a job, how can you make Read more [...]

Christmas Is Around The Corner-Here’s How to Pay For It

By Posted in Personal Finances, Staples How To Tagged , Leave a comment
The holiday season is approaching quickly and, for many, the countdown to Christmas has officially begun. With the biggest gift-giving holiday just weeks away, many households are looking for ways to make Christmas shopping affordable. Finding a way to pay for Christmas isn’t always easy. The average American, according to a poll, will spend $633 on gifts, décor, travel, and other Christmas-related expenses. That isn’t a small number. If you need to figure out how you can pay for Christmas Read more [...]

Here Are The 401(K) Contribution Limits 2020

By Posted in Personal Finances Tagged , Leave a comment
If you are preparing for retirement and using your 401(k) as the primary savings vehicle; you will be happy to know that you can now add more money to your account in the coming year. According to the IRS.gov website; in 2020, you can contribute $19,500 to your 401(k) account.  This is an increase of $500 from last year's limit. This limit also applies to federal employees utilizing the Thrift Savings Plan. Here are a few other notable changes: 1-Catch-up contributions for those over Read more [...]

Here’s Why You’re Still Broke and How to Fix it!

By Posted in Frugal Living, Personal Finances Tagged , Leave a comment
If it seems like you never have any money, you’re probably pretty frustrated. While sometimes being broke isn’t entirely your fault, there are plenty of situations where your choices are the primary reason for your financial difficulties. If you are trying to figure out why you are always cash-poor and what you can do about it, here’s what you need to know. You Don’t Have a Budget A budget serves as a guideline for your finances. It allows you to allocate portions of your income Read more [...]