Spending

To better understand your spending habits, you must first track and monitor where your money is going. Then, you have to think about the psychology behind your spending. What are your spending triggers? What do you consider when making purchasing decisions?

When spending money, it is important to implement the Smarter Buying Process. This process involves seven steps that allow for well-informed, responsible purchases to be made. Following these steps can help you work towards developing smarter spending habits. If you would like to know more about the Smarter Buying Process, you can read about it here.

If you would like to learn more about Spending, you can do so here. If you did not find the answer to your question, we’d be happy to answer it directly. Contact us here.

Budgeting

The first steps in developing a budget involve monitoring your spending for a period of time and then analyzing it. Keep in mind that your budget is directly associated with your spending habits and that you should not start to develop a budget before assessing those habits. After this you can look into different budgeting tools and find out which is best suited for you, whether that be a simple spreadsheet, an accounting software, an online/mobile tool, or something else entirely.

Think about what you can’t live without, and by that we mean the things you literally need to survive. Try not to confuse them with the things you desire but can live without. It is still possible to buy things you want, you just have to prioritize the things you need first when making a budget.

If you would like to learn more about Budgeting, you can do so here. If you did not find the answer to your question, we’d be happy to answer it directly. Contact us here.

Credit & Debt

When you use a debit card, the amount of money from that purchase is taken directly from your checking account in almost real time. When you use a credit card, the amount will be charged to your line of credit, meaning you will pay the bill at a later date, which also gives you more time to pay. But this can also be dangerous, since it’s harder to gauge how much that was spent, and easily forgotten to stay within your budget if you’re not careful. Long term debts can occur if credit cards are not used and calculated properly.

Most credit scores range from 300 to 850, with an 850 representing a perfect credit score. The higher your credit score, the better your credit. In general, credit scores fall in the following ranges:

    • Below 580: Poor
    • 580 to 669: Fair
    • 670 to 739: Good
    • 740 to 799: Very Good
    • Above 800: Exceptional

Yes, but don’t worry; it’s free.Start by managing your emotions associated with credit, and understanding that credit cards are not just immediate free money. Understand student loans or any loan that you are about to be involved in. Establish credit as you go and understand the relationship between credit and debt and how they affect each other.

If you would like to learn more about Credit & Debt, you can do so here. If you did not find the answer to your question, we’d be happy to answer it directly. Contact us here.

Investing

We recommend looking into investing when you’re building a well stocked emergency fund, you end each month with extra money, and you are ready to commit to long term financial goals.

You can reach your goals more quickly. You can beat inflation. It can allow you to be self-reliant. Investing can be sustainable if done right. But remember, investing is not gambling; it takes time, patience and knowledge.

If you would like to learn more about Investing, you can do so here. If you did not find the answer to your question, we’d be happy to answer it directly. Contact us here.

Fraud Protection

Have a secured password, with combinations of letters, numbers and symbols. Use multi factor authentication. Avoid opening fraudulent emails and clicking links attached, or emails from contacts you don’t know.Do not share or put any personal information down on the internet or public places.Have all purchases alerted on your phone from your bank app.

Update your passwords, don’t use the same one. Freeze your credits and the cards that were used for fraud. Monitor your credit after.

If you would like to learn more about Fraud Protection, you can do so here. If you did not find the answer to your question, we’d be happy to answer it directly. Contact us here.

Filing Taxes

Income

    • Federal
    • State
    • City
    • FICA

Sales

    • General Purchases
    • Food Purchases
    • Luxury Items

$12,950

*Note, this number changes year to year

You can use a traditional paper form, file it for free on the IRS website, utilize online resources such as TurboTax, hire a tax specialist, etc.

If you would like to learn more about Filing Taxes, you can do so here. If you did not find the answer to your question, we’d be happy to answer it directly. Contact us here.

Insurance

Common types of insurance include:

    • Auto Insurance
    • Renters Insurance
    • Disability Insurance
    • Life Insurance
    • Homeowners Insurance
    • Health Insurance

It depends. There are different requirements depending on where you live. If you’d like to know more about it, you can do so here.

If you would like to learn more about Insurance, you can do so here. If you did not find the answer to your question, we’d be happy to answer it directly. Contact us here.