Do you know the difference between and Annual Percentage Rate (APR) and Annual Percentage Yield? You should. 20Somethingfinance.com breaks it down and explains how your knowledge on this topic could be the difference in getting a deal and getting scammed. Read “Interest Rates: APR vs APY (and why it Matters).” An annual percentage rate (APR) [...]
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Yesterday we addressed some of the more basic questions you may ask if you found yourself in a sudden position of wealth due to winnings or inheritance. Today we want to focus on the impact your wealth will have on insurance, your estate and gifting. Impact on Insurance Unfortunately, being wealthy may make you more [...]
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In his NY Times blog article, “Why Your Family Should Talk About Money More Often,” Carl Richards discusses the importance of having open conversations about money as a family. It may be an uncomfortable topic for some, but how else will your children learn about the value of money, financial discipline, and the link [...]
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We thought we would take a break from all the accounting and tax talk to share with you 20somethingfinance.com’s article, “Lifestyle Inflation… Justified.” It presents an excellent “dialogue” of what goes on in the mind of the typical American consumer from college to retirement – with the temptation of “lifestyle inflation” hanging around every corner. Author [...]
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“Nearly three in ten Americans have no money saved for a financial emergency,” according to a recent Bankrate.com survey. For the mathematically challenged, that’s 30 percent! Living paycheck to paycheck can spell disaster if you get hit with large unexpected expenses (i.e., hospital stay) or suddenly lose your job. Yahoo! Finance’s Daily Ticker Video shares [...]
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Yesterday I worked on what I believe was our 7th or 8th mail-in audit received over the course of the past year regarding limitations on deductible mortgage interest. Without a doubt, the IRS is sending out more and more requests to individuals with large mortgage interest deductions who must, in turn, prove they are following [...]
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Albert Einstein was once quoted as saying, “The most powerful force in the universe is compound interest” and “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” No one is quite certain that he said these things, but consider the following: Compound [...]
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Over the last few years it seems we have heard more about lost jobs, credit card debt and foreclosures than ever before. If you find yourself in one of these difficult positions, you may find that in working with your credit card or mortgage company, they will wipe the slate clean on some or all [...]
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If you financed your way through college and have entered the workforce (or at least graduated), you will find that those folks so eager to throw money your way all those years actually want it back. Student loan payments are no fun. However, there is a little silver lining that takes the form of the [...]
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