An emergency fund can turn a crisis into an inconvenience. Having a big pad of liquid cash available ensures that when life throws its wrenches and curveballs your way, you and your family will be prepared. This is a sensible conclusion. Yet most Americans have little in emergency savings. One survey found that only 39% … Continue reading The Biblical Principle of Having an Emergency Fund
Do you want to get a raise at your job? Of course, you do! Who would say no to a bump in earnings? Well, the fact of the matter is that just getting a raise isn't so simple most of the time. Some industries have a standard cost of living adjustment or raises that come … Continue reading How to Know When You Deserve To Get a Raise
For the 2020 tax year, the IRS has made some changed that could affect your take-home pay and total federal tax liability. MSN reports that the changes do not affect the rates themselves, but changes the income thresholds for the brackets as adjusted for inflation. In 2017, Congress changed federal income tax rates and brackets … Continue reading IRS Announces Tax Bracket Changes for 2020
Let's face it folks: no matter who you are, it's easy to see that the student loan situation is simply out of control. (Well, unless you're Sallie Mae or Navient). With all the student loan propaganda thrown our way, it's no wonder so many people believe that student loans are the only way to pay … Continue reading Student Loans Are The Only Way to Pay for College?
When I receive a question about cashing out the 401k to pay off debt, my short answer is generally no. The longer answer is still no as a general rule, but it may be a consideration in some very limited circumstances. Here's the rationale behind not cashing out the 401k. Sure, it may be tempting … Continue reading Should You Cash Out Your 401k Early to Pay Off Debt?
A client recently asked me if he and his wife should renew the warranty on their vehicle. Because of the cost-benefit analysis on such warranties, I answered no. A warranty is often a nice little peace of mind when you buy a car. Especially if the car is used, having that extra reassurance backing up … Continue reading Are Extended Warranties Worth the Money?
As most of my clients now know, I am pursuing my Juris Doctor degree and completed my first year in May 2020. As I was in the process of applying to law schools, I came across the Public Service Loan Forgiveness Program. It seemed to be a great idea at first: serve at qualifying non-profits … Continue reading Should I Apply for the Public Service Loan Forgiveness Program?
It's a common question that a lot of folks ask when they hear about the idea of working with a coach: " Why should I pay someone when I can’t even make payments on some of our debts?" This is an understandable concern. The bills are already sky-high and it seems like there's hardly any … Continue reading “We Used a Coach…My Cousin Didn’t”
Almost everyone could use a few extra bucks in their checking account, am I right? Luckily, in our world today, there are tons of opportunities to earn extra money quickly. Let's consider just a few of the options available to us. 1. Have a Garage/Yard Sale Most of us have a bunch of random stuff … Continue reading 5 Quick Ways to Earn Some Extra Money
When it comes to retirement planning, we are currently in a state of transition between the pension and 401k. The pension's days are numbered, but that doesn't mean the skies are gray. In the battle between the pension vs. 401k, you can still come out ahead. On the subject of retirement, I strongly advise my … Continue reading Pension vs. 401k: Which Retirement Option is Better?