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.
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.
It has been eighteen years since your child was born. A few days ago he has just received an acceptance letter to his top college choice in the mail. This is the moment you have been waiting for and working toward for almost two decades. While you feel that parental pride that your child will be working towards a higher education degree for the next four years, you also feel apprehension. You worry if you have saved enough to fund four years of college education. It’s natural. Unless you’re a millionaire, you’re going to feel some pressure when you stop to think about how much these four years are going to cost you.
There wasn’t much I could do. The deer ran out in front of me and froze in the middle of the road. I had only an instant to react and knew swerving into on-coming traffic was likely to get me killed. My only choice was to hit the buck and deal with the inevitable damage. I’ve hit deer before and they are sturdy creatures. A mere tap can cause more damage than is seemingly possible. My collision will mean repairing my bumper, hood, headlight, fender, door and side mirror. One deer is going to cost me thousands.
America is the “Land of Opportunity.” Everyone has a chance to go to school, get a paying job, earn enough to buy the house with the while picket fence, and retire when they are 60. Unfortunately, America is also the “Land of Crippling Debt.” As of 2010, the amount of consumer debt in the United States was approaching $2.4 TRILLION, which, when broken down, amounts to $7,800 for every single person living in the US. Consider this; these numbers were high in 2010, how high do you think they are now? The US economy is taking a nose dive and every man, woman, and child in this country is feeling the debt effects–but there’s hope.
There’s a feeling of sticker shock the first time you roll over the frozen turkey at the grocery store and check out the total cost. It might seem steep, but the average cost of a Thanksgiving dinner is very affordable. According to the American Farm Bureau Federation, the average cost for a family of 10 is under $50 or slightly less than $5 per person. You probably spend more money driving to Grandmother’s house. Still, there are many things that can be done to spend less than the average American.
Today’s job market is very competitive. With the state of the economy these last couple of years, jobs are now at a premium. Many companies have a hiring freeze, and some others have downsized to make them more agile. However, colleges and universities are cranking out more and more graduates every year. These fresh graduates are now competing with newly unemployed people who already have work experience. With the limited number of jobs, you really have to sell and market yourself to a prospective employer, and your resume is your first opportunity to do so.
I’ve long since thrown in the towel on retiring by 35. That was my goal as a sophomore in high school and when I look back on it, I can’t help but snicker at how naive I had been. Not because retiring by 35 is unreasonable. If anything, I believe it is more possible now than I’d originally believed. It was my strategy and ignorance of money that hindered my chances of retiring early. If I could do it all over again, I would have done things much differently.
Investing in bonds is just one way to diversify your investment portfolio. After all you should not put all your eggs in one basket. Bonds are a great investment if you want a regular income stream. Many people enjoy receiving the added income while preserving their initial investment. When it comes to investing in bonds, there are actually many different strategies that you can employ.
In comparison, it wasn’t as bad where I live. Many homes were without power for a couple of days. A few downed trees proved a nuisance for homeowners who now had to deal with chopping them up. I had to chase down my recycling bin, which was sent racing down the street by a gust of wind. For those in NJ and NYC, the conditions were far worse.
Retirement is the culmination of everything we worked hard for throughout the first two-thirds of our lives. It is the time when we can truly start to enjoy the fruits of our labor. Well, ideally, it should be. But what if, before you even start to enjoy your rest and freedom, you discover certain financial obligations that you never even considered before. You find out too late that there are hidden expenses that you still need to pay for regularly. That will surely burst your bubbles fast on your last day on the grind.
Congratulations. As a first time home buyer, you get to enjoy the wonders of home equity and excitement of housing inflation. However, being new to owning, there probably is a lot that you need to figure out and I’m not talking about where to put the coffee table. Expenses can add up quickly when you own a house, but there are many costs that are easily avoided, so long as you are aware of them.