Last Build Date: Sat, 22 Oct 2016 01:29:08 +0000
Sat, 22 Oct 2016 01:15:19 +0000
Sometimes it’s hard to think about making those IRA contributions and understanding IRA contribution limits because, well, retirement seems so far off. But the U.S. tax structure has several incentives that make it worth everyone’s time and focus to make consistent contributions. It also pays to make sure you know about deductions relating to your income level – we’ll deal with that here as well. IRA contribution limits For tax year 2016, the contribution limits...(image)
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Thu, 20 Oct 2016 11:00:51 +0000
While our bellies may be stuffed on Thanksgiving, our wallets will be thinner — Americans will spend nearly $3 billion on the holiday, according to data compiled by Statistic Brain. Three billion! That includes food, travel, parties and nights out, and various other items. But instead, we could focus on how to save money on Thanksgiving this year. The average cost of Thanksgiving dinner for 10 people in 2015 was $50.11, an increase of $0.70...(image)
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Thu, 13 Oct 2016 21:14:54 +0000
In personal finance there are often more questions than answers, especially if you are new to the money game, from how to start investing in stocks to growing your childrens’ 529 plans. After all, every situation is unique. To help guide you on your financial journey, we’re featuring two questions we received recently via the Get Rich Slowly Facebook community and turned to Richard Barrington, a certified financial analyst and contributor to Get Rich Slowly,...(image)
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Mon, 10 Oct 2016 16:57:47 +0000
Talking about money is just as uncomfortable as any discussion about religion or politics. We’re raised to think it’s not a topic for polite conversation. Unfortunately, some of us hold onto that belief even when the person on the other end of the conversation is someone we should trust — our future spouse. Millions of Americans will tie the knot this year, but how many will have “the talk” — the one about marriage and...(image)
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Tue, 04 Oct 2016 18:29:26 +0000
App Overview NerdWallet is a personal finance site that provides tools and resources to help consumers make financial decisions. Their new mobile app, simply called NerdWallet, allows anyone with an iPhone to ask financial questions about any subject and get in-depth, one-on-one help for free from their in-house financial experts. We recently reviewed the app as part of our series highlighting the best budget apps of 2016-2017. What I Liked It’s a real person providing information...(image)
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Mon, 03 Oct 2016 18:36:39 +0000
I’ve just come from the gym. My arms are so spent I can barely type. My glutes are killing me as I sit on my wooden chair. I am guzzling ice water and still sweating a little. An hour of concentrated exercise with a trainer — part of my gym memberships — has left me feeling both exhausted and accomplished. I love my gym. My gym membership costs us $158.46 per month. I can hear...(image)
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Mon, 26 Sep 2016 22:42:53 +0000
It was big news recently when Hillary Clinton tried to go to work sick with pneumonia and was forced to leave a 9/11 memorial event. It became even bigger news when every woman in America pointed out she always “works sick” because there’s always something or someone who needs you. Heck, I remember that time when I had a brutal flu and was bedridden, but had to haul myself up and go pick up my...(image)
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Wed, 21 Sep 2016 20:13:53 +0000
Knowing you aren’t saving enough for retirement isn’t a great feeling, but at least you are not alone. A full 71 percent of Americans say they are behind on their retirement savings and more than half, 54 percent, believe they will never pay off their debt fully, according to a new national survey commissioned by Experian together with Get Rich Slowly and other top U.S. personal finance blogs. Entering retirement with a large debt load...(image)
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Mon, 19 Sep 2016 23:29:20 +0000
The prevailing wisdom is that people spend more when they have a debit or credit card in their hand. Every swipe feels like free money until you get your monthly statement. Enter the envelope system. You put just enough cash in designated envelopes and when the money’s gone, it’s gone — the idea being that making your spending tangible will produce better financial habits. Goodbudget, formerly known as Easy Envelope Budget Aid, has taken this...(image)
The post Goodbudget App Review: The Cash-Envelope System Goes Digital appeared first on Get Rich Slowly - Personal Finance That Makes Cents..
Fri, 09 Sep 2016 02:53:53 +0000
Plenty of Americans have that entrepreneurial spirit. Being your own boss and setting your own hours is liberating, and millions of Americans have made the leap. But there are special credit challenges to be aware of, especially in the first two years of striking out on your own. Self-employed Americans by the numbers According to a 2014 report from the Bureau of Labor Statistics, 14.4 million Americans are self-employed. (When you factor in part-time independent...(image)
The post Entrepreneurs Face Credit Challenges When Purchasing a Home appeared first on Get Rich Slowly - Personal Finance That Makes Cents..
Tue, 06 Sep 2016 18:48:59 +0000
The recent uproar over the cost of EpiPens, the life saving self-injection device that contains epinephrine, a chemical that narrows blood vessels and opens airways in the lungs to offset an allergic reaction, has garnered tremendous media attention and consumer outrage. Through massive marketing and outreach efforts by the manufacturer, Mylan, EpiPen has become to the go-to device for anyone facing a potentially serious or life-threatening allergic reaction. It is a brand that has “become”...(image)
The post What’s the Cure for the High Cost of Prescriptions? appeared first on Get Rich Slowly - Personal Finance That Makes Cents..
Fri, 02 Sep 2016 01:54:41 +0000
Each time tuition rises, students become more dependent upon loan programs to pay for school. But the long-term consequences of those decisions means students and graduates will spend years working to get rid of the financial strain associated with student-loan debt. Time.com put it best: “This year, more than two-thirds of college graduates graduated with debt, and their average debt at graduation was about $35,000, tripling in two decades.” Your game plan to reduce student-loan...(image)
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Thu, 25 Aug 2016 11:00:03 +0000
As I write this, I am on vacation. And I’m not just working for GRS while on my break. I’m posting on social media for six other clients, and writing freelance pieces for two other websites. So when I say I am on vacation, I really mean that I am working in a house that is not my own, with a lovely view of a beach. Since being laid off from my traditional full time...(image)
The post How Many Jobs Is Too Many Jobs? appeared first on Get Rich Slowly - Personal Finance That Makes Cents..
Fri, 19 Aug 2016 04:35:31 +0000
My oldest son recently asked: “What can I do to make sure I get a big, fat salary when I graduate?” He’s a sophomore eyeing chemistry as his career. Having spent his summer working nearly 60 hours a week in a warehouse, I think he’s suddenly come to realize the full-court advantage of a college education. So I took his question to the mat. How can a student leverage college experience in order to maximize his...(image)
The post College Grads: How to Increase Your Salary appeared first on Get Rich Slowly - Personal Finance That Makes Cents..
Mon, 15 Aug 2016 21:23:44 +0000
Food. You can’t live without it, but it sure can be expensive. It’s also a time suck, especially because the grocery stores spend so much time playing bait-and-switch with us, requiring Inspector-Clouseau-level skills to find, for example, the pine nuts. For those who have been following my tales on GRS, it should come as no surprise The Husband does the grocery shopping, at least the bulk of it. I tend to suffer from sensory overload...(image)
The post Grocery Shopping: Is it Eating Up Your Cash? appeared first on Get Rich Slowly - Personal Finance That Makes Cents..
Wed, 10 Aug 2016 05:12:17 +0000
A notoriously lucrative asset class, real estate—both residential and commercial—has become one of the most popular ways to secure residual income. Traditionally, building a residual income stream through real estate has required a large, up-front investment of both time and money; but thanks to new investment vehicles, those interested in earning passive income through real estate have several options from which to choose. Different Ways to Build Residual Income through Real Estate New Technology Platforms...(image)
Mon, 08 Aug 2016 23:14:45 +0000
School is (almost) back in session. That means fresh notebooks, new backpacks and outgrown sneakers that need replacing. It’s an exciting and expensive time of year. Before the first bell even chimes many of us will have shelled out several hundred dollars per child. The National Retail Federation backs that up. Its annual survey finds parents with kids in K-12 plan to spend an average $673.57 for back-to-school necessities this year, up 9.6 percent from...(image)
The post Surviving Back-to-School Money Madness appeared first on Get Rich Slowly - Personal Finance That Makes Cents..
Tue, 02 Aug 2016 03:01:43 +0000
Hear Ye! Hear Ye! Living at home post undergrad has many rewards. If you were fortunate to have parents like mine, where rent-free is the name of their game, you might agree that it’s like winning the lotto! After a contract I was working on changed due to mutual agreement, I ended a job with the hope of tackling personal and business ventures. Technically, I wasn’t broke because I had no job. I was broke...(image)
The post Dear Diary: I live at home and I’m still broke — Part I appeared first on Get Rich Slowly - Personal Finance That Makes Cents..
Thu, 28 Jul 2016 20:12:08 +0000
Ah, summer employment. Those heady teenage years when you worked from June through August, doing what no adult in their right mind would do, for a wage no adult would agree to, all the while hoping to meet the boy of your dreams. Heaven, right? Well, not exactly. Even with the rosy glow of nostalgia attached, I still remember many of my summer jobs as just plain hard work. Babysitting from the age of 13:...(image)
The post Lessons From Your Summer Job: “Date the ice cream guy” appeared first on Get Rich Slowly - Personal Finance That Makes Cents..
Tue, 26 Jul 2016 07:37:00 +0000
I had the itch. I had a great idea and the support of my wife. I had the hunger to write my own story. It was 2002 when someone from a division at my Fortune 50 employer whispered in my ear: “If you go out on your own, we’ll hire you.” So I made the leap and started my own business in 2002. And it was great — until late 2007 when the sky started...(image)
The post 11 Myths That Stifle Budding Entrepreneurs appeared first on Get Rich Slowly - Personal Finance That Makes Cents..
Thu, 21 Jul 2016 18:55:40 +0000
We joined a CSA this year, our first time venturing into the realm of Community Supported Agriculture. I have been intrigued with the concept for several years, as I have friends who rave about their weekly boxes of fresh veggies from a local farm. A special deal popped up in my Facebook feed in late winter and I decided to do it. We shelled out $475 ($450 for the CSA and $25 one-time delivery...(image)
The post Community Supported Agriculture and Your Budget: Is It Worth It? appeared first on Get Rich Slowly - Personal Finance That Makes Cents..
Mon, 18 Jul 2016 15:51:13 +0000
Money and Budgeting App Reviews 2016-2017: Digit Many people have a system for building up financial reserves. Some deposit a set amount of each paycheck or at month’s end into a savings account. Others have their checks deposited into savings, leaving only the amount needed for bills and entertainment transferred into checking. Not surprising in this age of technology, there is also a high tech iteration of the classic piggy bank: The Digit app is...(image)
The post Digit App Review: Welcome to ‘Micro-Saving’ appeared first on Get Rich Slowly - Personal Finance That Makes Cents..
Fri, 15 Jul 2016 19:48:44 +0000
My favorite scene in the 1985 movie “The Sure Thing” is when John Cusack and Daphne Zuniga are stranded in the middle of nowhere, cold and hungry, and it starts to torrentially pour. Seeking shelter in a locked trailer, John bangs incessantly on the padlock with a stone, while Daphne reaches into her bag looking for lock-picking tools and pulls out … a credit card. “I have a credit card. I have a credit card,”...(image)
The post In Case Of Emergency: The College Credit Card appeared first on Get Rich Slowly - Personal Finance That Makes Cents..
Mon, 11 Jul 2016 22:26:55 +0000
Remember the thrill of bringing your savings account book to the bank when you were a kid? They would stamp it and — ta-daaaa — you had more money than when you walked in. Fast forward to today. Most of us don’t get that giddy feeling after making a deposit with the so-low-it’s-not-even-worth-it interest earned on traditional bank deposit accounts like savings accounts, money markets and certificates of deposit. Let’s look at CDs as an...(image)
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Thu, 07 Jul 2016 23:59:01 +0000
Ah, retirement. Dreaming of it is part of the evolution of life. As a 20-something, you spend time envisioning the amazing career you’ll have and the important work you’ll do. As a 50-something, what you picture is a hammock, an ice-cold beer, and a good book. You picture retirement. My vision of retirement consists entirely of not having the alarm go off every morning. Never. Not for any reason. For years, The Husband has laughed...(image)
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Tue, 05 Jul 2016 17:14:20 +0000
Money and Budgeting App Reviews 2016-2017: You Need a Budget If you’re ready to account for where every cent of your money goes, You Need a Budget could work for you. The app is based on the premise of “giving every dollar a job,” meaning you budget for every expense — fixed, discretionary or otherwise. Want to buy a new purse or pair of shoes? If your monthly clothing budget is $100, then you may...(image)
The post YNAB App Review: Serious Budgeting Power appeared first on Get Rich Slowly - Personal Finance That Makes Cents..
Mon, 27 Jun 2016 13:57:11 +0000
Voters in Britain singlehandedly ignited an international crisis with their historic decision to leave the European Union last week. The British exit, or “Brexit” for short, continues to dominate the news, spawning talk of regret, a re-vote and recovery from what The New York Times described as a massive Brexit “hangover.” It’s easy to think the June 23rd vote won’t have an impact on family finances over on this side of the pond, but experts...(image)
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Fri, 24 Jun 2016 21:05:42 +0000
The world celebrated Father’s Day on Sunday (or is it just an American thing?) and it got me thinking: What’s the best financial advice your dad ever gave you? My father was never big on dishing out guidance, although when I was in college he did tell me it was always a good idea to nurse a beer rather than chug it. When it came to money, I only remember two things: When I got...(image)
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Fri, 24 Jun 2016 14:44:15 +0000
“No more pencils, no more books, no more teachers’ dirty looks.” And for many parents, no more child care for eight hours a day. Summertime — every child’s dream season — can be every working parent’s nightmare. Think about it: From late August or early September through mid-June, working parents have the luxury of public education to make sure their children are cared for, watched over, intellectually stimulated and exercised. Yes, it’s education. Yes, your...(image)
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Fri, 24 Jun 2016 00:26:34 +0000
As savers go, I’m somewhere between decent and so-so…or at least that’s what I thought until I saw a 22-year-old neighborhood kid who used to work with me saving $800 a month with his earnings, plus furnishing his own rental apartment (in New York!) and buying a piece of land in Mexico. Our other neighbor has three kids and she earns a pretty humble salary taking care of babies and cleaning houses—yet she too saves...(image)
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