I recently came across the How to Drive Free and Retire Rich on Dave Ramsey’s site. It basically said the normal way of thinking about car ownership is all wrong, and there is a better way to go about this. Dave Ramsey proposes that you save your money first, invest, and use the proceed to … Read more
One of the quickest ways to improve your finances is to reduce your expenses and find more ways to save money. This article is a compilation of various money saving ideas curated into one big list. The idea behind this list is that you can go down the list and pick out ideas and apply … Read more
“A penny saved is a penny earned” is a famous phrase often attributed to Benjamin Franklin. However, Ben never said these exact words (at least according to the Franklin Institute, and if he did, he would be wrong! A penny saved is much better than a penny earned. This is one reason why being frugal is such … Read more
Following up on my how to create a budget article, I want to share with you a budgeting method called the cash envelope budgeting system. The envelope system of budgeting has been around for long time (it’s believed to have started during the Great Depression). However, it became more popular when Dave Ramsey preached it … Read more
I believe that cash flow is one of the most powerful concepts in personal finance. People have a general feel about their personal finance — e.g., whether they are comfortable or are struggling. Unfortunately, not too many people truly understand cash flow and how important it is to your finances. When you understand the concept … Read more
A budget is a plan to help you balance your income against your expenses. At the minimum, your goal to try to break even each month so you can stay out of debt. However, a good budget should let you to save some money each month so that you can start building your wealth. Creating … Read more
When you first start a job, it’s exciting. You agree on a salary, and you are thrilled that you will soon be getting paid. If your salary is $40,000 a year and you are paid every two weeks, you might be expecting $1,538.46 each check (i.e., your salary divided by 26 pay periods). Unfortunately, this … Read more
In this article, I will explain a few basic tax concepts related to our Federal income tax system that includes Tax Brackets, Marginal Tax Rate, and Effective Tax Rate. In the United States, we have a progressive tax system where people who earn more money generally pay more. Tax Brackets There are seven Federal tax … Read more
The following article contains information about the federal income tax rates for 2019. You’ll use these tax tables to help you calculate your 2019 taxes in early 2020. Federal Income Tax Rates (2019) The table below gives you the marginal tax brackets for single, married couples filing jointly, and head of household. Marginal Tax Rate … Read more
In many cultures around the world negotiation is a part of every day life. No one pays the listed price for an item; you haggle until an agreement is reached. In American society this is practically unheard of. We tend to see the price tag, determine if we can afford it, and swipe the credit … Read more