Insurance, fuel, loan interest, maintenance, repairs, depreciation --all the expenses associated with owning and driving an automobile can take a huge bite out of your family budget. Some of these are sunk costs. Because the money is already spent --the down payment to purchase your car, for example --such costs are irrelevant when budgeting for…Read more
If you are like millions of taxpayers who work in the service industry, you may receive tips. The tax code is clear; if you receive tips you must report them as income. Some employers have systems to make this easy, while others do not. Here are some suggestions: Think 1-2-3 Proper tip reporting has three…Read more
Planning for emergencies is like buying insurance: you pay into an account and hope you'll never have to use it. But life happens. Cars break down. Roofs leak. Kids get injured. Having money in the bank to cover those unexpected expenses can reduce stress and keep you from relying on credit cards and loans to…Read more
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