If you haven't seen the popular OWN TV show, Iyanla Fix My Life, where relationship expert Iyanla Vanzant teaches celebrities and everyday folks how to fix what's broken in their lives, then you've been missing some good TV (especially this season.) Iyanla provides tough advice, but somehow I get the feeling that when the cameras turn off, her subjects are going to slip back … [Read more...]
Student Loan Help – 5 Ways to Protect Yourself from Untrustworthy Student Loan Servicers
I hate student loans. Don’t get me wrong. I’m grateful for the education that those loans afforded, but I despise the paperwork, the hassle, and the never-ending interest which make paying off student loans such a herculean task. Student loans represent some perverse never-ending form of bondage. And nearly 44 million Americans are in this financial bondage to a tune of … [Read more...]
A Lifeline that Could Eliminate Your Crippling Student Loan Debt – PSLF
In October 2017 tens of thousands of Americans will see the remaining balance of their student loans completely erased. These people are among the first enrollees in the Public Service Loan Forgiveness (PSLF) Program. The Good Created in 2007, the Public Service Loan Forgiveness Program is designed to help people who choose to work in public service jobs deal with their … [Read more...]
You’re Giving the Government an Interest Free Loan and You Don’t Even Realize It
Would you lend the government money interest free? Sounds crazy, doesn’t it? But that’s exactly what millions of us do every year when we receive our IRS refund. Your refund may seem like a gift, but it’s actually not. We receive a tax refund simply because we paid the IRS more money than we needed to. Far from being a windfall, our tax refund is money we rightfully … [Read more...]
Stop Losing Money: Here’s Why You Should Get Help With Your Taxes
According to Benjamin Franklin, there are only two things certain in life: death and taxes. Unfortunately, this year’s April 18th tax deadline is fast approaching. With a tax code that is 74,608 pages long and changes being made yearly, it’s almost impossible for an individual to be aware of all the tax credits or deductions for which he or she may be eligible. Take the … [Read more...]
Black Buyers Beware: How to Avoid the Retail “Black Tax”
I still remember the afternoon I went in search of a new car. Inside the Toyota showroom a Black salesperson casually strolled my way making amiable small talk. When I asked how much I could get off the sticker price (also known as the MSRP or Manufacturer Suggested Retail Price) he looked me straight in the eye and without flinching told me that the sticker price was the price … [Read more...]
6 Ways Money Smart People Become Wealthy While We Struggle to Make Ends Meet
How is it that some people seem to have truly mastered the money game? They enjoy life, free of financial distress, while the rest of us struggle to make ends meet. Are they born smarter than the rest of us? Do they possess some special money secret? Not necessarily. Money smart people simply do what the rest of us are unwilling to do. 1. Money smart people take charge of … [Read more...]
5 Super Smart Things to Do with Your Refund Check
Last year the average taxpayer received a federal tax refund of nearly $3200. Having received such a large check in the past, I can fully appreciate the temptations to spend the money on something “fun”. We all work hard for our money so a new toy or vacation should be considered reasonable. Right? But, if you can resist the temptation to splurge, your IRS “windfall” offers … [Read more...]
Sit Back, Relax and Enjoy the Ride: How to Put Your Wealth Creation on Autopilot
The rich invest to make their money grow. Unfortunately, too few of us follow their example. We put off investing because we think we’ll be in a better financial place in the future. We tell ourselves that later on we’ll have more money to invest. Unfortunately, later never arrives as we inherit more obligations. A spouse and kids cause expenses to skyrocket, while your … [Read more...]
Why Boring Is Beautiful When It Comes to Your Money – Index Funds
Warren Buffett is the third richest man in the world and has been hailed as one of the greatest stock pickers of all time. But you might be surprised the advice he is giving to his future heirs. Instead of investing in individual stocks or mutual funds, when Buffett passes away he wants his wealth placed in index funds. “My advice to the trustee could not be more simple: Put … [Read more...]
Money Monday: How The Rich Build Their Wealth And How You Can Too
Growing up, my family never talked about the stock market. We didn’t discuss ticker symbols over the kitchen table. Perhaps it was because my parents were too busy just trying to make ends meet. To us stocks were risky. They were the playground of the rich. You either had to have money or immense intelligence to wade into the world of stocks. Fast forward a few decades and I … [Read more...]
5 Steps to Stop Living Paycheck to Paycheck
Have you noticed how people frequently define their financial success by the type of car they drive or by the size of their homes? Don’t get me wrong. Having nice things is not bad, but true financial success is found in achieving financial peace of mind. Financial peace of mind is that secure feeling, knowing you don’t have to worry about meeting day-to-day expenses, that … [Read more...]
7 Things African Americans, Specifically, Must Do Before Buying a Home
Home ownership is a brutal two edged sword. Play your cards right and you’ll create a home and generate memories that’ll last a lifetime. At the same time you’ll build durable wealth. But, fail to do your homework and your homeownership dreams could morph into a financial nightmare. This is the brutal lesson too many African-Americans learned during the last great … [Read more...]
Flip the Script: 5 Car Buying Tips that Put the Power in Your Hands
I find it amazing how we pay attention to saving nickels and dimes on small purchases, but we're almost completely oblivious when it comes to the big purchases in our lives. Let’s face it, you won't win the financial game by saving a few dollars on a loaf of bread or buying your favorite outfit on sale. The money game is won by playing it smart with the major purchases in our … [Read more...]
15 Easy Ways To Take Your Money Game To The Next Level in 2017
We hate rules. Maybe it's the rebel inside all of us. But, if you really think about it, rules serve us well. They keep us safe. They help us achieve our goals. Rules of the road, for instance, ensure that we'll arrive at our destination safely without accident. There are rules to the money game as well. Unfortunately, too often we ignore them resulting in financial carnage. … [Read more...]