In 2017, Congress changed federal income tax rates and brackets with the Tax Cuts and Jobs Act of 2017. The changes included a lowering of the personal and corporate tax rates, along with a doubling of the standard personal deduction. For the 2020 tax year, the IRS has made some changed that could affect your … Continue reading IRS Announces Tax Bracket Changes for 2020
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 get some cash fast. 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
This is a common question that we as coaches get. A lot of people don't understand the nature of our trade and how we differ from financial advisors. That's understandable though, as the financial coaching industry is still a relatively new sector of the financial world. So let's define what advisors do versus what I … Continue reading What’s the Difference Between a Financial Coach and a Financial Advisor?
Step 3 of the Baby Steps program is to save three to six months of expenses in an emergency fund. This fund is not supposed to be used for shopping sprees, vacations, cars, sofa specials, or anything of that sort; only for true, emergency situations like a job layoff or medical incident. What to spend … Continue reading Where Should I Put My Emergency Fund?
It's easy to think that if we earned just a bit more money, we'd be able to get ahead; that a few hundred dollars more a month will do the trick, or that a six-figure income is what really makes becoming wealthy possible. But contrary to popular opinion, that's simply not true. You may have … Continue reading Money Won’t Solve Your Financial Problems
There's a misconception that people who become wealthy these days somehow got there through special knowledge, sophisticated investment strategies, or (most cynical of all) by "stealing" from other people. All of the above things are untrue, and are demonstrably untrue thanks to Chris Hogan's study of over 10,000 American millionaires. The steps to achieving wealth … Continue reading The Not-So-Secret Tool That Will Help You Become Wealthy
How many times have you ever bought an item only to wake up the next morning and suddenly have that feeling of remorse for the transaction? Odds are, if you're a person over the age of 12, that's happened to you at some point. What if you've had this experience multiple times in your life … Continue reading Ever Have Buyer’s Remorse? Here’s A Strategy To Prevent It In The Future
In Chris Hogan's recently published book Everyday Millionaires, he wrote about some really fascinating statistics on typical American millionaires. The truth is far from media portrayals. Few millionaires ever hold an executive position, nor are many of them celebrities or professional athletes. Most simply worked hard over their entire lives, stayed out of debt, and invested … Continue reading 97% of Millionaires Believe This One Thing, And It Makes ALL The Difference