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In today’s world, if you want get ahead, you must start early.  Twenty-somethings are facing student loan debt, business start-up costs and very little emergency savings as they try to enter the business world.  Then they must worry about long-term goals and retirement while they try to balance their present financial situation. Many are tempted by credit cards as a way to fund expensive lifestyles.  Good financial advice is the key to starting down the road to financial success. Read, “The … [Read more...]

What happens if you move into a great neighborhood and love the place but then a neighbor allows his home to become an eyesore? You can try asking your neighbor to correct the problem but if that does not work, contact your homeowner’s association.  Some HOAs will take action to correct the problem without further legal battles.  If all else fails, report any code violations to the local authorities or contact an attorney to check into local ordinances about owners not maintaining their … [Read more...]

Now that the government shutdown is over, you have more time to make tax moves that can help your finances - - and you will need it.  With the upcoming tax code changes taking effect, end-of-the-year planning is essential if you want to lessen your tax burden on April 15.  Things you do now such as matching gains and losses on investments, managing your tax bracket and reviewing dividends to lower the tax on them can have a huge impact on your net taxes next year. For more tips about how to … [Read more...]

Whatever the reason may be, some couples are deciding to downsize their home.  Even with the slow real estate market and tough economy, it is still possible to downsize.  Begin by deciding why you want to downsize and then create a budget that is workable with your current, and future, income.  You can also begin to downsize within your home by getting rid of unwanted or unneeded items to see how much room you actually will need when you decide to make the move. For more tips on how you can … [Read more...]

Even though the housing market is picking up, sellers should still be on their toes when it comes to potential buyers.  Sellers need to make sure that they try to please potential buyers but they should make an even bigger effort not to drive them away.  For example, one of the biggest turnoffs for a buyer is dirt and grime.  A buyer cannot see beyond a dirty, messy house so clean, clean and then clean some more.  Wallpaper is another turnoff - - it is personalized and a pain to remove. For … [Read more...]

If you just got married or you are planning a wedding, taxes are probably the last thing on your mind.  However, you may need to spend a little time considering how your personal taxes will be impacted now that you tied the knot.  For example, no matter when you were married during the year, you are considered married for the entire tax year.  You are not required to file a joint tax return; however, you cannot file a “single” return when you are married (and there may be certain tax advantages … [Read more...]

More and more people are opting to rent instead of investing in the real estate market for several reasons.  This has highlighted the question of how to protect your security deposit.  A recent survey revealed that roughly a quarter of all renters lose their security deposit when they move.  In some cases, the landlord may have been justified; however, there are ways to protect your security deposit.  The best way is to document the property’s condition when you move in - - take pictures and … [Read more...]

If you have two kids and two incomes, you are not alone.  The average family in America is four - - two parents and two kids.  And raising those kids is not cheap - - over $240,000 per child.  No wonder it takes two incomes during these tough economic times.  There are budgeting strategies for mid-size families that can help keep your funds in check.  Meal planning, prioritizing spending and planning for the worst are just a few ways families budget wisely. For more read, “The Best Budgeting … [Read more...]

There are typically two types of FSAs offered by employers - - one for dependent care expenses and one for medical expenses.  In both cases, the employer deducts pre-tax dollars from an employee’s pay to be used for approved medical or dependent care expenses.  The biggest drawback is that if you do not use the money by the end of the benefit year, you lose your money.  In recent years, changes such as claims deadline extensions and benefit “loans” have made FSAs more appealing but there are … [Read more...]

The rollout of Obamacare has been plagued with computer glitches and delays.  Illinois residents, as the rest of America, are frustrated by the problems but some still want to take advantage of the program.  Illinois state officials have advised residents who are having trouble accessing the Affordable Care Act online to pick up the phone.  Call the help center to speak directly with an enrollment counselor by telephone - - you can even schedule a telephone appointment. To read about some … [Read more...]