Keys to Surviving a Personal Financial Disaster

It may have already happened to you. You lost your job. You went through a divorce. Someone in your family was seriously ill. You were in an accident. You experienced a flood that damaged your home. I hope it didn’t happen to you and never will. But…what if it happened? Have you ever considered what you would do? How you would cope? The stress, the worry, the pain, and then there’s the financial disaster that usually comes along with it. What would you do?

Keys to Surviving a Personal Financial Disaster

Reality is this: these kinds of things happen to people every single day. I don’t want to scare or depress you, but common sense says that some part of you must be prepared to deal with a crisis if and when it happens. It may be you and your family that go through it or not. But being prepared for it is a way to cope, deal, and survive.Continue reading“Keys to Surviving a Personal Financial Disaster”

How to Avoid Those Annoying Fees

There’s a subject that annoys me to the core, and I’m willing to bet it’s a major source of frustration for you as well. I’m talking about those annoying fees you find these days on just about everything. Businesses are busy thinking up new and even more annoying ways to grab our money even now as I write this post.

How to Avoid Those Annoying Fees

Ordinarily, I don’t condemn anyone or any business from making money when they are providing a valuable product or service. But when it’s a blatant predatory move and often obscure charge or fee, I do draw the line. And so should you. By becoming aware of these annoying charges before they’re part of you bill, you’re taking the first step in defending your money.Continue reading“How to Avoid Those Annoying Fees”

Strategies to Avoid the Dreaded Tax Audit

If you’re anything like me, you sometimes think about the possibility of a tax audit and wonder what you can do to make sure that never happens. Truthfully, tax audits are pretty rare, only about 1% actually ever get audited. They mostly occur with wealthy people (audited at 2.5%) and questionable returns with itemized deductions that may net the IRS some substantial amount of money.  There also audit some small number of totally random returns as well. Those that earn less than $200,000 (audited at about 0.7%) and file as individuals or joint earners stand the very least chance of an audit even though the numbers are increasing ever so slightly since 2008.

Strategies to Avoid the Dreaded Tax AuditContinue reading“Strategies to Avoid the Dreaded Tax Audit”

5 Money Mistakes for Women to Avoid

We all make money mistakes in our lives. I have, and what I try to do is to never make the same mistake twice. Being a man and working continuously for well over 40 years, I’ve had the chance to recoup my losses and make up for some of the money errors that might have cost me dearly now that I’m in retirement. But women, especially those who are married and are looking to raise a family, may not be so fortunate to recover from some of the same mistakes that men make for some very good reasons.

5 Money Mistakes for Women to Avoid

 

So in honor of Women’s Money Week, I’m going to look at some difficult situations and highlight the potential pitfalls that a woman may stumble over if she doesn’t deal with them early on. Time, which is often your friend when it comes to finance, can be your very best buddy if you take action sooner rather than later. Here’s what I’m talking about.Continue reading“5 Money Mistakes for Women to Avoid”

Is Your Spending Out of Control? Compulsive Buying Disorder

Are you the kind of person who is smart about your money? Do you think about your spending in advance? Do you have a budget and almost never deviate from it? Do you actually know where you money comes from and goes every week? You’d be very surprised to know that a lot of people haven’t a clue about those things and in fact can’t control their spending. That’s hard to believe I know, especially if you’re a person like me, who makes knowing about my money a real priority. But for a lot of people, spending money, shopping, and going out on the town isn’t something they think about like I do. In fact, for many people, spending money (even when they don’t have any left) is an overwhelming urge or need. It’s a compulsion and is really part of an addiction. It’s called Compulsive Buying Disorder (CBD).

Is Your Spending Out of Control? Compulsive Buying Disorder

CBD spending comes from someplace within the mind and is almost always a desperate attempt to satisfy some negative emotions like anger or sadness. It may be an attempt to block out something like stress or a sense of inferiority that buying something new or spending to an extreme will cure, if only for a moment.Continue reading“Is Your Spending Out of Control? Compulsive Buying Disorder”

Are We Heading Toward a Cashless World?

The phrase “cash is king” has been around forever, but today that is changing and a lot faster than you may realize. Around the world, the financial community is gearing up to make cash a thing of the past. Countries are depending more and more on technology and their citizens depend more on electronic methods to handle day-to-day methods of shopping and paying bills. Are we heading toward a cashless world?

Are We Heading Toward a Cashless World

Back in my parents’ day, when a person got paid each week, they used the “envelope system” and put their cash in envelopes earmarked for their spending and bill paying. It was a simple system and made it easy to deal with their money each week to make it until the next paycheck. But the technological changes in the last few decades have fostered a new way of looking at cash, and with very good reasons.Continue reading“Are We Heading Toward a Cashless World?”

How to Cash in an Extra $5,000 in Savings This Year

Please welcome back fellow blogger Anum Yoon for today’s guest post.

We all want to save money. Unfortunately we live in a society that constantly encourages us to spend. Whether it’s the need to keep up with the Joneses or just maintain the lifestyle we’ve become used to, we all find it hard to give up the things we love.

How to Cash In an Extra $5,000 in Savings This Year

If you’re willing to make some minor concessions, you might just find ways to put back a bit of extra cash without compromising your lifestyle. Here are a few ideas to get you started.Continue reading“How to Cash in an Extra $5,000 in Savings This Year”

Is Debt Really a 4-Letter Word?

All my life I have resented and feared debt. I’m sure I’m not alone. At various times in life you’ve got to face facts and your fears because sometimes there’s just no escaping it. I thought today I’d review my adventures in debt for your information (and perhaps my own therapy). So this is a story, not about a man named Brady, but of one named Gary! Sit back and take the journey with me and maybe when the dust clears you might just feel better knowing that you aren’t alone.

Is Debt Really a 4-Letter Word?Continue reading“Is Debt Really a 4-Letter Word?”