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How Long Should I Keep my Financial Records?

During the tax season we are forced to address paperwork we have collected since it is necessary to gather all the required paperwork to prepare taxes. This might also be a good time to deal with a lot of the financial paperwork that may be stored away in who-knows-where locations from drawers to boxes or worse. Hanging on to Too Much or Too Little How Long to Keep Those Records? Regardless of your method, the […]

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Credit Freeze Free but Still Too Few People Have One in Place

Identity theft in the USA continues to be a problem, with more and more people reporting to the FTC’s complaint database. I define identity theft as having someone not you using your personal and financial information to create new accounts in your name, or using your existing credit. There have been enough computer breaches of American’s identification information that everyone should assume that someone can obtain your identity and use it to create new accounts […]

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Finding Money in the Electronic Cushions

There is the old joke that when you want to find some spare change for something you look under the cushions of the couch and chairs and head out to the car and look under and around the seats. With so many transactions happening online these days, the chances of carrying around pocket change to lose in the furniture or car are much smaller. But it is still possible to find those “change” types of […]

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Ugly Tax Season Coming This Year

The 2021 tax season is here and it could be an ugly season. The Internal Revenue Service (IRS) continues to face budget cuts and staffing issues due to covid. In addition, they have been tasked with distributing the federal checks to taxpayers during Covid as well as the child care credit checks. It has overwhelmed them and they are very much behind in processing tax returns on a timely basis. Ways to Help Potentially Speed […]

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America Saves Week is Here

The week of February 21, 2022 is the beginning of America Saves Week, a week devoted to encouraging Americans to save some of their money for what they will need later. For example, there are still too many families who would have trouble coming up with $400 in an emergency situation. Saving money will help end that risk. Here are some options for saving for each day of the week. Monday: Saving Automatically Tuesday: Save […]

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Valentine’s Day and Love and Money

What Can We Learn From the Data? Since these surveys were done at the end of January, I suspect the answers are more likely reflective of relationships in the previous year which would be 2021 and 2020. This makes me wonder how much of these changes are related to the pandemic and our level of social interaction than any significant changes in feelings about talking with money with others? I do think it would be […]

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picture of a pile of dollar bills courtesy Pixabay

Are You Making Any of These Money Mistakes?

Smart people don’t make dumb mistakes with their money. Or do they? See how many of these traps you might be falling into. Time Vs Money Nearly all decisions about money are related to time. Spend more to save time, or pay less but do more yourself. One money saving idea is that if there is a gas station further away from your usual one that has gas for less money, then it is worth […]

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Budgeting for New Graduates

One day I was having coffee with a friend whom has two children who had just graduated from college and were excited about the possibility of getting a job and moving out of mom and dad’s house. One of his concerns was that regardless of how he tried to talk about the subject of money, the children (boys!) weren’t really thinking about the financial implications of being independent. It wasn’t that they were ignoring the […]

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Stop Money Leaking Out of Your Accounts!

You may have money leaking out of your accounts and not even realize it. Here are a number of possible ways you are letting money drain out of your accounts and how to stop these leaks. Bank Fees Other fees that you can avoid are minimum balance fees by making sure that your balance is always over the minimum amount. Several tools such as the bank’s own mobile apps or independent budgeting apps can give […]

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Is a Safe Deposit Box the Best Place for Your Stuff?

In our parent’s generation, it was pretty much assumed that if you had valuables that you wanted to hang onto, you didn’t keep them at home, but you would rent a safe deposit box from your local bank. After all, if the bank vault was good enough to keep the bank’s cash safe, it would be safe for your things as well. When told that irreplaceable papers such as a Will or Power of Attorney […]

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