Personal Finance Blog Helping You Make Smart Financial Choices — The Digerati Life

Time 2020-09-10 03:02:08

Web Name: Personal Finance Blog Helping You Make Smart Financial Choices — The Digerati Life

WebSite: http://www.thedigeratilife.com

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The steps we are showcasing here are not just applicable for an online business but for any small business.What s the difference between a hobby and a business? The difference is that losses from a business can be deducted on your taxes (schedule C) whereas losses from a hobby cannot. The IRS presumes that an activity is a business if it makes a profit during at least three of the last five tax years, including the current year or at least two of the last seven years for activities that consist primarily of breeding, showing, training or racing horses. That s a direct quote from the IRS, and I honestly have no idea why equine pursuits rate special treatment (businesses in many other industries also take several years to turn a profit), but they do. [click to continue…]We compare low cost life insurance vs commission based policies vs those you can buy through fee only insurance agents.Every financial plan should have a risk management or insurance component. Yes, we all know the importance of life and disability insurance, and health and long-term care. And, annuities, despite their criticism, also have a place when some people need the tax-deferral and/or guaranteed income options. But, the use of all these products falls right smack in the middle of the heated fee only versus commission advisor debate. But, this debate has been primarily investment centered and has not focused on the risk management component as much. [click to continue…]I use a debt consolidation calculator to illustrate how much you can save with the right kind of personal loan.Today, I ll cover some ideas on how to become debt free faster. If you re someone with a strong credit rating but with credit card debt and various loans to your name, you may be able to make bigger dents on your debt reduction efforts by opting for a debt consolidation loan. Before I familiarized myself with the wonderful world of debt management, I never thought that you could do much once you got yourself stuck with credit card debt, or any loan or mortgage. But there are clever ways to deal with your debt if you ve got fairly good credit. For instance, if interest rates go down, it s always worth checking if refinancing your mortgage is worth pursuing. And what about all those personal loans, installment debt, revolving debt and credit card debt that you may be carrying? Well, if you re money savvy, you can pay much less for your loans over time. While this is not necessarily news for a lot of debtors, it s surprising that not more people are more strategic about working on a debt reduction plan that can expedite their payoff schedule. [click to continue…]I ve discussed how to avoid foreclosure and how to avoid bankruptcy in the past, but in some cases, things don t work out too well, and there are people who end up becoming casualties of the real estate bust, credit crisis and weak job market. Lots of people have been forced into homelessness due to a variety of reasons. Many cases of homelessness are because of mistakes and choices people make in their lives. There are those who fall into substance abuse and become stuck in this kind of existence. But there are other cases particularly in recent years that are not from bad choices. In some situations, it may be due to poor planning. [click to continue…]Everyone wants to eat healthy these days. Your health is priceless! Many claim, however, that it s impossible to eat healthy on a limited food budget. But I would beg to differ; cheap meal ideas abound, and there are lots of ways to prepare your food inexpensively. You also don t always need a stack of grocery coupons or a list of online coupons to save money on food (although they help). Here are five great strategies that can help you to get the healthy foods you need without breaking the bank. [click to continue…]This guest post was written by Henry Truc from Go Banking Rates, a website that publishes informative personal finance content and helpful tools, as well as the best interest rates on financial services nationwide.Finding the best cities, towns or other locations in the U.S. can be a bit difficult these days. First, the problem is categorizing what best real estate actually means. For some, it s about buying property that has the most growth potential to flip for a profit. For most, however, the best real estate value for their money is a place they can call home. [click to continue…]I was actually one of those folks who was perfectly suited for the 9 to 5 and worked for many employers over the span of 17 years so imagine my surprise when I found myself turn into an accidental entrepreneur. I never really thought about working for myself until several years ago, when my hobby was fortunate enough to graduate into an online business (yes, you may be able to make a bit of money blogging or working online)! [click to continue…]For experienced and first time investors alike, the plethora of investment vehicles and options can be overwhelming. It seems that on a nearly daily basis, some new innovation with unlimited promise and appeal sprouts through the already crowded investment landscape. Like many things, however, it behooves us to keep our investment styles simple. Believe it or not, a simplified investment approach not only makes our lives easier and less harrowing, but also can drastically improve our results. How do you do this? Consider a passive investment style. In fact, did you know that you can beat the average investor s returns with the simplest investment portfolio? [click to continue…]

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