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After watching the stories about the new credit card rules this week, I decided to do some digging and see exactly what options are available for those wanting to open new credit accounts. One story I heard was from a man with a long-time Macy’s credit account. He said his account is now charged interest [...]
When an employee is hired in the United States, in most cases, the employer is required to pay a minimum amount per hour for the services of that employee. As of 7/24/09, that amount is $7.25 per hour. If that employee works 40 hours per week and 52 weeks per year, the total gross wages [...]
During my lunch break, I usually read news articles and opinions from various news sites. One thing that is always fascinating is the paradox of how many people want to be like the various celebrities in the news, yet how out of touch those same celebrities are with real people’s lives. So many magazines at [...]
The IRS just released it’s taxpayer statistics for the 2006 tax year. With all the press dedicated to analyzing the new administration’s tax proposals, I thought it would be good to look at just who is paying taxes these days.
First, the average tax rate paid on all returns was 13.8%, which is slightly higher than [...]
Don’t you just enjoy the passing of an old year? 2008 brought many challenges from a financial perspective. Large and small corporations, retailers, stockholders, investors and regular employees all felt some pain. This post will have two major points. First, the biggest question everyone has is why did this happen. Last year, I was reading [...]
Q. I have taken a 50% hit on my 401(k) account this year because of the market contraction. I’m thinking of just pulling all the money out and investing in a rental property instead. Is this a good idea? I live in the southwest where real estate has really dropped anyway. I’m not 59.5 yet [...]
Continuing on from where I left off yesterday, how do we become more financially free? Debt is not the new inevitable item adding to the death and taxes list.
After changing the way you think about debt (part 1) and developing a budget (part 2), you need to develop a plan. First look at
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In this second installment of the personal financial freedom series, I will discuss budgeting. To most people, a budget is how much money they have left to spend until the next check. This is dangerous and keeps families and individuals from finding areas where they may be wasting their hard-earned cash.
Why budget? If you admit [...]
I did not get a question on this one, however, the subject seems to be appropriate given the falling sky scenario presented by the media these days. What is a person supposed to do to be financially prepared for unknown future events? In my opinion,
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