Author Archives: JP

Families are Better Off When Women are the Breadwinners?

Families are Better Off When Women are the Breadwinners?

According to a recent study by Pew Social Trends, the median income for a family with a woman breadwinner is higher than that of families with a male breadwinner. However, it’s better to be a breadwinner than have no breadwinner at all. Families where husband and wife tied in income had over 10 percent less in family income.Continue Reading

My Story: Will a College Degree Increase Income?

My Story: Will a College Degree Increase Income?

I don’t relish the decisions that young high school graduates have to make these days. College is expensive – much more so than when I went only 10 years ago. Students have to consider how much they can borrow and what income they are likely to earn at graduation, then cram those two critical decisions into a desirable college. It makes writing about the benefits of college just as difficult. I find myself fearful that I will discourage those likely to have bright futures with difficult stories and encouraging those who could use a little dose of reality with brighter news.Continue Reading

Tax Deductions for Having a Baby

Tax Deductions for Having a Baby

Your life changes dramatically when you have a baby. Your taxes change too. I know. After becoming a mother or a father, the last thing on your mind is taxes. You are thinking about waking up in the middle of the night and whether your relatives have washed their hands before handling the baby. I’m sure the price of diapers would be a higher priority for your finances.Continue Reading

Preparing for Next Year’s Taxes

Preparing for Next Year’s Taxes

Tax season has come and gone. The forms, the paperwork and all the worksheets are closed for another year. Before you forget the words “income taxes” for another 9 months (and before you put the tax folder in the box for the next 7 years), stop and think: “what could I be doing to make this all easier?”Continue Reading

Is It Bad to Get a Large Tax Refund?

Is It Bad to Get a Large Tax Refund?

Of course tax time is stressful and confusing. We can list any number of mundane tasks that we’d rather have engaging our free time. I believe that cleaning bathrooms would even contend. However, for a large majority of Americans, completing your tax forms is not all pain for no gain.Continue Reading

Why Seller’s Concessions are Popular

Why Seller’s Concessions are Popular

There is this famous phrase that gets bandied about in the housing market called a “seller’s concession.” It is not a hot dog stand out in front of an open house. It’s also not the seller signing away his first born to a new home buyer. If you are in the home buying or selling market, you want to know exactly what a seller’s concession is and how it can help you.Continue Reading

What’s your financial philosophy on income?

What’s your financial philosophy on income?

Everyone has one. What’s your financial philosophy on income? You simply can’t avoid believing in something. Even believing in nothing requires belief. Creating more income for yourself is just another area in your life where this is true. Even though you may not have realized it, you have assembled a personal philosophy on how best to handle your finances. This post will help you to see the broad ranges of opinions that are out there and to help you identify what your money philosophy is.Continue Reading

Valentine’s Day Spending for the Average 20-Something in 2013

Valentine’s Day Spending for the Average 20-Something in 2013

Perhaps it’s your first, or maybe you’ve been through the motions a few dozen times. No matter your Valentine’s Day experience, anyone who is financially savvy is going to want to figure out a rational budget. Here is what the average 20-something is planning on spending this Valentine’s Day:Continue Reading

The Hidden Costs of Renting

The Hidden Costs of Renting

There is no such thing as a hidden costs to homeownership. When you own a home, no repair, maintenance nor service is charged to you unless you give someone permission. Your name goes on the bill, the bill gets mailed to your house and then you pay the bill out of your bank account. Renting, on the other hand, comes with seemingly endless hidden costs. When charges mount, no bill is presented – and no permission is asked. You pay your rent and rent increases blindly, without reason or explanation.Continue Reading

Why an Emergency Fund is More Important than Paying Off Debt

Why an Emergency Fund is More Important than Paying Off Debt

You might not know this, but building an emergency fund vs.paying off debt is a touchy subject for many finance bloggers when it comes to which is more important. Some believe that freeing yourself from debt is a critical first step to financial stability. They support their priority by arguing that by focusing on debt first, you save money in interest and get access to more money each month by paying debt off fastest. There are plenty of people who sit in the middle of the debate, but I’m neither a proponent of this priority nor a fence sitter. I strongly believe that an emergency fund should be the first priority for anyone beginning the journey of financial responsibility.Continue Reading