We cover the basics and more about personal finance, answering frequently asked questions about credit and debt, identity theft, saving for college, retirement, estate planning, insurance, taxes, job hunting, and raising money-savvy kids. Check out the articles, columns, blog posts, radio shows and videos for tons of personal finance advice.
8 Ways Spending Money Can Buy Happiness
It’s often said that money can’t buy happiness, but new research suggests a twist: It’s how you spend it that matters. At least that’s the contention of Elizabeth Dunn, Daniel Gilbert and Timothy Wilson in their Journal of Consumer Psychology paper, “If money doesn’t make you happy, then you probably aren’t spending it right.” The [...]
Your Must-Have 2014 Tax Filing Checklist
The 2014 tax filing season is here, and you may be scrambling to gather the correct paperwork—especially if you were disorganized with your record keeping in 2013. To ensure that you’re prepared before you head to your tax pro’s office or open your tax preparation software, review the list below and start collecting your paperwork [...]
How to Pay Less Tax on Forgiven or Cancelled Mortgage Debt
The IRS will collect taxes on forgiven or cancelled mortgage debt but distressed homeowners may pay less than the full amount if they file correctly. When the bank forgives your mortgage debt, sells your home in a short sale or repossesses it with a deed in lieu of foreclosure, you no longer owe the mortgage [...]
Tax Filing Tips and Advice from Tax Experts
Bill Nemeth, Merry Brodie and Chet Burgess joined Ilyce to discuss this year's tax filing season on the Ilyce Glink Show on February 23, 2014 on WSB Radio. Ilyce's show always contains various forms of personal finance advice but she invited three engaged and intelligent professionals to give tips and advice on tax filing this year. These [...]
Financial Planning Can Make You 20 Percent Richer
People who have a financial plan build roughly 20 percent more wealth over their lifetimes than people who don’t. That's according to a National Bureau of Economic Research study, “Wealth Accumulation and the Propensity to Plan.” If you have a budget, it gets even better. For households making between $50,000 and $750,000—quite a wide range—budgeting [...]
Un-budgeting: When Your Household Budget Has Gone Too Far
There’s a lot to be said for simplicity, especially when it comes to your household budget. Micromanaging your money can get messy, and if you’re not careful, you’ll wind up over-budgeting and driving yourself crazy. Our family keeps a pretty detailed monthly spending plan. We’ve used Quicken software to track it in the past, and [...]
Three Retirement Tips for 2014 Retirees
If retirement is on your radar for 2014, it’s important to start preparing to leave the workforce. Retirement is sweet, but it can quickly turn sour if you find yourself bored or, worse yet, on the verge of outliving your retirement savings. To help you ease into retirement, here are three retirement tips you might [...]
Five Features to Look for When Shopping for a Safe Car
When I was 18 years old, I got my first new car: a green Toyota Celica. Because I was heading off to college with a one-hour commute, my parents insisted I drive a safe, reliable car, and they gave me $1,000 toward the down payment. They balked at the thought of me driving a car [...]
Filing 2013 Taxes Online? Know the Pros and Cons of Using a Tax Pro
When I started my first job in the tax department of a national CPA firm, I was surprised to see people paying quite a bit of money for tax preparation. They were paying around $350 for tax services in order to file a tax return with only a simple Schedule A. That may not seem [...]
Leftover Funds in a 529 Savings Plan: What to Do With the Money
Q: My child graduated college and we still have leftover funds in a Georgia 529 savings plan; about $5000. If I close the account out, do the leftover funds become income to me as the parent or to my child who did not need the remaining 529 savings plan funds? A: It must be really [...]