Budget

We have lost the ability to be penny pinchers. Afraid to be labeled a tight wad, a miser, or a scrooge, we spend our lives “keeping up with Joneses” and sacrifice our own financial security to the allure of having it all, all the time. You can not build financial security if you spend beyond
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Win the lottery! Win a new life! The allure of gaining a new life by simply plunking a dollar on the table is mind boggling.  Just one dollar for a lottery ticket. Anyone can afford that. Why wouldn’t you? I met Benny 3 years ago.  He was one of the lucky ones. Benny won a million
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Medical Flexible Spending Accounts (FSA’s) are a great way to save money on your out of pocket medical expenses. By budgeting your expected expenses for the coming year and using your employer sponsored FSA plan, you can literally save hundreds of dollars in taxes. It is important to remember that medical expenses must be within
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The concept of Flexible Spending Accounts (FSA’s) is so simple that people think there must be a catch.  There really isn’t. You budget what your expected annual out-of-pocket medical expenses will be.  Then, you request that amount of money be allocated to your FSA account.  Your salary will be reduced by that amount, so no income
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I’ve given a huge rant on why I don’t think you should use a 529 to save for college. I’ve laid out the scenario of when you still might choose to start a 529 savings account. Now you might be wondering what steps you should take to prepare for future college expenses.  The answer is
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The 529 is a valid option for saving for college. You place money for future college expenses in a special account called a 529. These accounts were named after Section 529 of the IRS code that originally created them back in 1996 in response to the need to save for ever rising college costs.  The concept is simple.  You set money aside
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I have to just come out and say it….Do Not Open a 529 college fund for your kid! A quick “google” of 529’s will give you a plethora of sites singing the praises of the 529 college fund. The concept is really simple.  Start saving early.  Your money will grow tax free.  When you take it out to pay
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A new baby is a life changing event!  Have I stated the obvious? Your home will be one of upheaval when a new baby arrives.  Those idealic weeks of planning the nursery and imagining yourself holding a smiling baby will quickly give way to the reality of changing diapers, spitting up, sleepless nights, and a
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We’ve all heard it.  You need a budget! What’s your budget? Did you budget for that? Ugh.  How to get started. Budgets are simply  a framework for  handling your money. They are as fluid, detailed and structured as you want them to be. At the very least, you should know whether you have enough money
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