52 Simple Ways to Manage Your Money – 48. The American Dream – Owning Vs. Renting What it is… The “Great Debate” between owning your own home and tenting. Often taken for granted, the possibility of ownership has become more remote for many young people, yet many benefits remain. How it helps… Renting; allows for … Read more
52 Simple Ways to Manage Your Money – 47. Thank You, Aunt Susie – Investing An Inheritance What it is … Money received due to the death of a friend or relative. The money received is not taxable, but the interest or profit gained on the money is taxable unless invested in a tax-free investment. … Read more
52 Simple Ways to Manage Your Money – 46. My Mother Told Me So – Myths What it is… A myth is a story which has been repeated so often that it appears to be the truth. Sample myths that you should question: “You should never touch your principle.” “People should always own a home.” … Read more
52 Simple Ways to Manage Your Money – 45 . I Can Find It – Organizing Your Materials What it is… A simple method of locating, using, retaining, and monitoring financial records; a way of keeping all of your important papers in one place; and a system for locating your documents easily. How it helps… … Read more
52 Simple Ways to Manage Your Money – 44. Easy Writer – Recordkeeping What it is… Answers the need to record important information and gives you the ability to locate that material quickly, as needed. How it helps… You can avoid the “tax time blues” if you have relevant information easily available. You have greater … Read more
52 Simple Ways to Manage Your Money – 43. Here I Come – Social Security What it is… A plan to supplement retirement income from monies paid into the Social Security Administration over the lifetime of a worker. It also provides other assistance, such as disability and survivors’ benefits. How it helps … Gives a … Read more
52 Simple Ways to Manage Your Money – 42 . I’m The Boss – Self-Employment What it is … Owning your own business, regardless of size and location of work. Taking the entrepreneurial risk with your own, and sometimes borrowed capital. Making the decisions that will determine the direction and future of the business and … Read more
52 Simple Ways to Manage Your Money – 41. Whoopee! A Raise! – Increased Income What it is … A sale, a raise, an inheritance, a windfall, etc., that continues for one time only. Purpose… To increase your net worth. To reach your goals. How it helps … Gives you a boost toward your goals. … Read more
52 Simple Ways to Manage Your Money – 40. The Pits – Losing Your Job What it is… A catastrophe sometimes, other times a blessing in disguise. How it helps… If you can remain objective, it offers an opportunity to explore options and alternatives that you might not have considered otherwise. You seldom make changes … Read more
52 Simple Ways to Manage Your Money – 39. Who? Me? A Landlord? – Income Real Estate What it is … Real estate purchased with the intention of providing cash flow through rentals and potential appreciation upon sale. How it helps… Provides additional income. May offer some tax advantages. Offers potential returns higher than the … Read more
