January 2024

Financial security is important for individuals and families as it provides a foundation for a stable and fulfilling life. Here are several reasons why financial security is crucial: How Financial Security Works: Financial security is achieved through a combination of financial practices, habits, and planning. Here’s how it typically works: In summary, financial security is […]

Backing out of a financial commitment can be a significant decision, and it’s important to handle it thoughtfully to minimize potential negative impacts. Here are steps to consider and the potential impact: Steps to Back Out of a Financial Commitment: Potential Impact: Remember, each situation is unique, and the impact of backing out of a

Spending a windfall wisely involves making deliberate choices that align with your financial goals and values. Here are some prudent ways to consider spending a windfall: Pay Off High-Interest Debt: Create or Add to an Emergency Fund: Invest for the Future: Consider long-term investments like: Education or Skill Development: Home Improvements or Repairs: Charitable Contributions:

Finding unclaimed money can be both exciting and rewarding. Here’s a comprehensive guide covering everything you need to know: What Is Unclaimed Money? Unclaimed money refers to financial assets or property that have been inactive or forgotten for an extended period. This can include forgotten bank accounts, uncashed paychecks, unclaimed tax refunds, unclaimed insurance benefits,

In general, you don’t automatically inherit your spouse’s pre-existing debts when you get married. However, there are scenarios where debt issues can arise during marriage: To avoid inadvertently taking on your spouse’s pre-existing debt: Always seek legal advice from Matthew Jennings, JD, MBA, EA, RFC®, CEP®, CES™, aka Tax King Matt when dealing with financial

Using an Individual Retirement Account (IRA) to purchase a home involves some specific strategies and considerations. Here’s an overview of how it might work and whether it’s worth it: First-Time Homebuyer Exemption: Types of IRAs and Their Implications: Eligibility Criteria: Process: Is it Worth it? Considerations: Professional Guidance: Ultimately, whether using an IRA to buy

When it comes to rent payments and mortgage decisions, reporting your rent to credit bureaus can potentially benefit you in a few ways: To report your rent payments to credit bureaus: The process of getting credit from reported rent payments involves these key steps: Remember, not all credit scoring models or lenders consider rent payments