How to Make a Monthly Budget
A monthly budget is one of the most critical tools, regardless of your income or financial position. When you track your spending habits, you can become aware of trends you may not have seen before, such as spending roughly $70 per month on lunch-break coffees. Noticing these trends is an important step in understanding your…
Critical Takeaways for Recession-Proofing Your Savings
Recession-proofing your finances is devising a plan to weather a potential loss of income while maximizing your return if you are fortunate enough to keep your investments untouched during the recession. Building an emergency fund and cutting down debt are two of the best methods to protect your savings during a recession. A pre-recession evaluation…
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How to Select the Best Long-Term Savings Account
The Best Long-Term Savings Accounts Significant purchases, such as college costs, retirement, and other obligations can be helped with long-term savings. Long-term savings can pay for one-time expenses or to help manage your day-to-day living expenses while you’re no longer working. Comparing various long-term savings account options, including interest rates, possible returns, fees, and other…
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The Top 8 Receipt Scanners in 2023
Keep a record of your purchases. This post contains referral links for products we love. Intelligent Money Moves earns a small commission on these links at no cost to you, and the links will always be marked with an asterisk. All recommended products and services are evaluated independently by us. Find out more. The most…
Wealth Building Principles, Part 2
5. Safeguarding Assets The worst-case scenario would be to lose everything due to a sudden catastrophe or unforeseen event. A fire might destroy your home, a car accident can result in property damage and medical expenditures, and a premature death can result in a loss of future income. Insurance is an essential component of wealth…
Wealth-Building Principles, Part 1
Building wealth is a goal that many individuals strive for, yet it can often appear to be a daunting endeavor. It takes time, work, and discipline to achieve this goal, so avoid being swayed by get-rich-quick schemes and too-good-to-be-true offers that can lead you astray. Some ideas and practices can assist anyone in the building…
Saving for Retirement
Alternatives to a 401(k) plan (k) There are numerous schools of thought regarding how much money you’ll need to live in comfort after you retire. Whatever that figure is, if you want to meet your retirement goals, you must be aggressive about saving. While many people save for retirement through employer-sponsored plans such as 401(k)s…
FINDING A SMALL BUSINESS CPA
You have a profitable small business. You are helping your consumers, and they are rewarding you with the one thing every business requires to thrive: money. Indeed, you may have started making so much money, and your firm is expanding so quickly that it is time to hire someone to assist you in keeping track…
YOUR BIRTHDAY IS THE PERFECT OCCASION FOR A FINANCIAL REVIEW.
Though it may not be as exciting as cake and ice cream, your birthday is the ideal time to do a financial checkup and ensure you stay on track to meet your objectives. With another year under your belt, now is the time to reflect on the financial milestones you’ve achieved and look ahead to…
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ELDER CARE PLANNING ESSENTIALS
Becoming older is unavoidable, which is why elder care planning is such a vital component of remaining financially prepared. Whether for your own or a loved one’s future, the sooner you begin planning for the necessities of elder care, the better protected you and your family will be in the long run. it is always…
TAX INSTRUCTIONS FOR INDEPENDENT CONTRACTORS
Certain entrepreneurs are classified as independent contractors by the IRS and may require additional tax advice to maximize their deductions. If you obtain a 1099 form during tax season, you are an independent contractor and must pay income tax as well as an additional self-employment tax to cover the Social Security and Medicare taxes withheld…
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How to Bargain to Work Remotely
Can you perform your duties as well at home? Do you want to continue working remotely if your employer has reopened or plans to reopen offices? Examine how the scenario outlined by your company affects your desire to seek remote work from home. Important Takeaways Unless the Americans cover your case with Disabilities Act, your…
Employment Scams: What to Look Out For
Everyone has seen them: A scrap of paper in a restroom, an email we didn’t request, a social media ad promising quick money for labor that requires no ability. Perhaps you’ve even applied for a job without realizing it was a ruse! Some job frauds are apparent, while others can trick anyone at first glance.…
Six Investing Mistakes the Rich Do Not Make
The ultra-wealthy, also known as ultra-high-net-worth individuals (UHNWIs), have a net worth of at least $30 million. These persons’ net worth consists of private and public company stock, real estate, and personal investments such as art, planes, and vehicles. Many people with lower net worth feel that the solution to becoming ultra-wealthy rests in some…
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Top Tax Benefits of Purchasing a House
Save money by taking advantage of these tax breaks and credits. Are you considering purchasing a home? There are numerous benefits to buying one. You can decorate it to your liking, install a professional home entertainment system, or even design the walk-in closet to contain everything you own how you want it. But there are…
Starting an Online Business
Do you want to establish an internet business or a new blog but need help knowing where to begin? With ever-improving technology, including excellent online tools and decreased expenses, there has never been a better moment to launch your business line and begin making money online. Whether you want to make some extra money on…
5 Internet Companies You Can Start for Nothing
The internet is a fantastic leveler. Everyone who has a computer can establish a profitable online business. But here’s the thing: no technical knowledge is required. Many tools are available today for building an online company that makes the technical job much easier than before. You may also live wherever you want, establish your hours,…
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How Long Does It Take to Purchase a Home?
So, you want to buy a house? Fantastic! You may be going to start a new career in a different city, or you may be ready to become a first-time homeowner. Whatever the reason you’re looking to buy a home, you’re undoubtedly wondering how long it will take. Don’t worry about it! We’ll show you…
HOW DOES CARD INTEREST WORK?
Indeed, that credit card comes in handy when you’re doing your Christmas shopping for the whole family or getting those concert tickets. And by the time you understand what’s going on, interest has already begun to pile up faster than Chipotle toppings. So, how does interest on credit cards work? What Exactly Is Credit Card…
What to do if you receive a Large Gift
A substantial inheritance can be both a blessing and a curse: a blessing because the money may come in handy eventually and a curse because it imposes a specific obligation on the recipient to utilize it. Here’s a guide for anyone who has or expects to receive a substantial inheritance. KEY LESSONS Take your time…
How Insurance premiums Work
Insurance rates are at a basic level and then reduced based on your personal information, region, and other factors. They are billed annually, semi-annually, or monthly. An insurance company may opt to require the premium to be paid in advance. Premiums may be deemed taxable income in certain circumstances. Service costs may be included in…
There are six types of retirement plans to be aware of
Planning for retirement does not have to be complicated. The numerous retirement plans available are simpler to grasp than you would imagine, albeit each has restrictions. Some of these restrictions are based on your modified adjusted gross income, while others entail a yearly contribution limit. The tax treatment of withdrawals, as well as the age…
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What is the Distinction Between Pretax and Roth Contributions?
Learn about the benefits of contributing after-tax funds to a Roth IRA in retirement. Choosing the correct form of tax benefit for your retirement savings plan can significantly impact your ROI and current budget. Some retirement plans provide tax benefits by allowing deduction contributions from your taxable income for that year. Other programs, such as…
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Banking Fundamentals
Whether you’re creating your first bank account, or you have had one for years, you may have yet to consider why it’s a good idea to have one. You recently opened one. That subject has become more interesting now that there are alternatives for collecting cash and paying expenses. Given the potential fees and annoyances,…
What is Zero Based Budgeting
What is Zero Based Budgeting? It is budgeting in which you allocate every dollar of your income. After you’ve accounted for all your expenses, including savings, and spending, you should have no money left at the end of the month. Important Takeaways Image by Gerd Altmann from Pixabay • A zero-based budget is one in…
Setting Financial Goals That You Can Achieve
Have you ever started a budget with good intentions only to abandon it after a few weeks (or days) because it’s too restrictive? Budgeting necessitates compromises that might become tiresome quickly, especially if you aren’t rewarded along the way. The difficulty is that it’s simple to get trapped without meaningful financial goals and a budget…
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10 Easy Ways to Improve Your Money Management
Being good with money entails more than just getting by. Don’t be concerned if you’re not a math whiz; strong arithmetic skills aren’t required; you need to know essential addition and subtraction. When you have excellent financial skills, life is a lot easier. The amount of debt you and your credit score are affected by…
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How to Manage Any Amount of Debt
Everyone who has even a tiny amount of debt must manage it. You must stay up with your payments and ensure they do not get out of hand. When you have a high obligation, you must put in more effort to pay it off while managing payments on debts you aren’t currently paying. Learn what…
What Exactly is Compound Interest?
DEFINITION It is interest earned on the original principal plus interest accumulated. Important Takeaways Compound interest is interest paid on interest already earned. Many banks compound interest daily, helping you grow your money more quickly. Compound interest is simple to calculate using online calculators. Save early to optimize your returns. Compound Interest: Definition and Examples…
5 Policies That Everyone Should Have
Insurance coverage can protect you from everyday threats like floods, fires, vehicle accidents, and life-threatening illnesses. A good insurance policy can give financial coverage for these unforeseen costs. Protecting your most valuable assets is an essential step in developing an excellent personal financial strategy, and the correct insurance coverage will go a long way toward…
How to Save Money: 23 Easy Steps
Do you ever feel it’s difficult to find methods to save money no matter how hard you try? You try your hardest to spend less money. The adolescent needs braces, the house needs a new roof—and conserving money falls by the wayside. Does this sound familiar? The ideal time to begin saving is now. There…