Steadfast Finances

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People think that life after receiving that diploma is just one big party. It is a time to celebrate your independence, reaching the legal drinking age and having money of your own. Life passes you by and before you know it, you hit thirty and you still have no savings. Your twenties are all about learning about being responsible. Even if you have just recently graduated from college, you should already think about investing for your future. In fact, you should always start as early as possible.

 Cutting Expenses,Frugal Living,Personal Finance         No comments

If you like reality TV then you’ve probably seen commercials for the specialty shows like “Doomsday Preppers” and “Extreme Couponing.” While these shows may seem a little silly and a lot like a waste of time, there are those who make the concept of these shows a daily part of their lives.

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In the first part of this article series we discussed, or rather I expounded, on the problem of marrying someone who is irresponsible with money—should you or shouldn’t you go through with the wedding if your intended spouse is keeping or has kept financial secrets from you?

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For most people, paying off a mortgage is not really a priority. Given the typical timeline of 20-30 years, it’s really hard to get excited at how big a dent an extra couple thousand dollars will make. Combined with the fact that most of us will sell that home long before we own it outright, [...]

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It’s finally happened. We are now in the last week leading up to Christmas and for many shoppers (mostly men), it’s time to finally hit the stores and end the procrastination. In the next few days, last-minute shoppers will make last-minute gift purchases. However, when the dust settles, last-minute shoppers will have handed over far more money than those who started earlier.

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Being in debt can be incredibly stressful. The logistics of just trying to remember who you owe money to and when you have to pay them are enough to drive you crazy, but on top of that you have to deal with all of the uncertainty, fear, sacrifices, and damaged relationships.

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Congratulations! You are endeavoring to step forward onto the path of lifelong love, commitment, and togetherness with someone you cannot live without. You’ve made the wedding plans, you’ve done the responsible thing and mapped out your five year plan in detail (savings, spending, investments, mortgage, and eventually kids), and now you’re as excited as punch to share your secure and detailed plan with your future spouse. You are so excited about what the future holds for you and your beloved one until you show them your brilliant financial plan and they turn as white as a sheet.

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While I always wanted to be an adult, never have I ever wished to myself to grow old. No one ever wants to grow old. At least, no one that I’ve talked to. The primary reason is that once you reach a certain age, your body starts to wear down and costs to maintain your health go up. This is the reason that I often dread talking to my grandparents. Conversation isn’t about anything other than body ailments. Whether it is someone’s hip that is hurting or movements that they can no longer perform, it never ends. Don’t get me wrong, I love my grandparents. I just don’t want to grow old. As I think about growing old and planning for retirement, I can’t help but wonder if I am totally prepared for retirement.

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Unfortunately, getting hired isn’t the end of a complicated transition. In fact, in many ways, it’s just the start of some very challenging paperwork. Between the policy acknowledgements and tax documents, there are your health insurance elections. Just starting a career and landed your first job? Then this is probably the first time you’ve ever looked at health insurance benefits. Spend five minutes with an insurance administrator and you’ll find yourself bombarded with confusing terms like deductible, co-pay and co-insurance.

 Investing 101,Personal Finance         No comments

Payday has finally come and you are staring and your first ever paycheck. This is probably one of the most unforgettable moments of your life. Yes, it is very tempting to go wild and spend it all in one go. After all, it is what tradition dictates that you do. However, is it really the smartest way to go about enjoying your paycheck?

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The end of the year is coming up and my wife has a big accounting decision to make. This year, my wife started a music studio. Since it’s her first year of operation, she has to pick an accounting method to properly report the taxes owed from the business. Perhaps you’ve never given your choices much thought. Maybe you were not aware that there are different methods of accounting, but the choices available can greatly change your tax liability.

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Buying a house for the first time is a big step and investment. After all, prices are always fluctuating, and such a purchase involves a pretty sizable down payment. However, with some careful budgeting, creativity and dedication, it is possible to save for such a property purchase. The following are some helpful tips for people who want to save money to buy a house.