Create a no-shame budget or spending plan using the steps outlined here with strategies from experts to help, too. Why You Need a Budget On a practical level, a budget helps you track spending and avoid missed payments—but it can also help you realize your real-world dreams. Budgets Create Opportunity Most budgeting advice emphasizes cutting back, but consumers could benefit from viewing their budget as an opportunity rather than loss, according to Jim Pendergast, senior vice president at specialty business lender altLINE....

Using your credit card to withdraw cash from an ATM, using one of the card issuer-supplied convenience checks, and using your credit card overdraft protection are ways your credit card issuer makes cash available to you. It might be easy to take out a cash advance from your credit limit, but you should avoid doing so unless it’s an extreme emergency and you’re sure you can repay the money as quickly as possible....

There are also floating-rate bond ETFs, which are debt funds that hold these floating-rate bonds or seek to replicate floating-rate bond benchmarks. If you trying to minimize interest rate risk, these types of ETFs may be a good fit for your portfolio. Below, you’ll find some example ETFs to jump-start your research. FLOT: iShares Floating Rate Bond ETF This ETF from iShares tracks an index composed of U.S. dollar-denominated, investment-grade, floating-rate bonds with remaining maturities between one month and five years....

For example, some people need to supplement the income from their Monday through Friday position. Other workers with children have a partner who is available on the weekend to care for their children, giving them availability to work. Students with heavy class schedules during the week may choose to allocate weekend hours to paid employment. Still, other workers prefer to schedule their working hours on the weekend, freeing up weekdays for other activities....

Here’s how the rule works so you can figure out how to apply it to your own finances, plus some insight on when it might make sense to bend the rules to fit your circumstances. How Does the 20/4/10 Rule of Thumb for Car Buying Work? The 20/4/10 rule uses straightforward math to help car shoppers figure out their budget. According to the formula, you should make a 20% down payment on a car with a four-year car loan and then spend no more than 10% of your monthly income on transportation expenses....

Food Costs Food is one category where it is easy to justify overspending because having good food is a necessity. However, if you add up the total amount you spend on food each month you may be surprised at how much you are spending. If you have a large family, it may be taking up a significant amount of your budget. Here are ten ways you can save on food costs each month....

Call Your Real Estate Agent The very first thing that you should do is call your real estate agent. The reason you want to call your real estate agent is to avoid making home selling mistakes before you get started. Your real estate agent can help put you on the right path and point you in the right direction. If you do not have a real estate agent, you will need to find a real estate agent....

The 6.20% is at least the highest since 2019 and likely much farther back. (Our data only goes back to 2020, but mortgage rates as measured by Freddie Mac, which has data back to 1971, were near their highest since 2009 last week.) Higher borrowing costs have dramatically changed the math on buying a house, and are starting to impose a real drag on what has been a hot housing market during the pandemic....

Whether you’re signing up for the first time or need to update an existing 401(k), the terms can be confusing. It helps to learn the terms or refresh your memory before making a decision about your retirement plans. Here are the most common 401(k) terms. Sponsors When an employer decides—or by law is required—to set up retirement plans for employees, they become the plan’s sponsor. Many employers contract retirement plan administrators to run their plans to reduce the internal costs of administering them....

5 Things You Really DON’T Need for Small Business Startup An office. You can work from your home. If you set up a home office, do keep track of all your home expenses, because you may be able to take a tax deduction for the use of your home office. A formal business plan. You may have heard that every business needs a business plan, and it’s a great idea. A business plan can certainly help you think about everything you need and where your business is going....

Although S corporations have been around for almost 60 years, this business type is still confusing. This article clears up some misconceptions about S corporations. S Corp Myth #1 - In the term “S corporation” or “S corp,” the S stands for “small business.” That’s a popular misconception. S corporations, created in 1958 by law, are a sub-set of corporations, not a separate business entity. They are sometimes called “Sub-S corporations” in reference to Subchapter S of Title 1 of the Internal Revenue Code....

Online databases are a great place to start your property search because they allow you to query and filter properties from all over the country based on specific criteria. Below are seven websites that are helpful for finding investment properties, chosen for their relevance to different parts of the real estate economy. LoopNet.com LoopNet allows you to search commercial real estate for sale and for lease. It has an extensive inventory of investment properties and other valuable features for property investors....

1. What Are Your Reasons for Buying a Home? Make sure that your reasons for buying a home are realistic. Recent data shows that many millennial homeowners regret buying their homes. For example, real estate listing company Clever released a report in April 2019 that revealed that 51% of millennials have regrets about purchasing their homes. Among their biggest regrets are that their monthly mortgage payments are too high, the house requires too much maintenance, and the house has depreciated too much since purchase....

If you were denied because of your credit score, the credit card issuer would send a copy of the credit score and the top factors contributing to your credit score. You could also be denied for a reason unrelated to your credit, like your income, employment history, or if you’re under 18, as long as these reasons are not considered discriminatory. Once you order your credit report, you can dispute any errors that may have caused your credit card application to be denied....

Having to dip into your savings account month after month means you are having issues keeping your budget or planning. Here are seven ways you can stop dipping into your savings account each month, and start building savings instead. Set Up an Emergency Fund If you have a separate emergency fund to handle unexpected expenses, then you will no longer need to dip into your savings account to cover unexpected expenses like car repairs or medical bills....

Depending on the type of your estate, the amount of money you want to give, and how you want to give it, you may find that you’re unsure of what type of charitable giving can work best for you and your philanthropic goals. There are several different ways you can give, each with its own pros and cons, depending on what you’re looking for. Donor-Advised Funds A donor-advised fund (DAF) is a type of charitable giving where you donate a nonrefundable amount, either in cash or securities, to a nonprofit of your choice....

A partnership sounds like a great idea, but not everybody can make a good business partner. Choosing a partner needs a very vivid assessment to avoid any future conflicts in the partnership. Without doing your due diligence, your company may not prosper because you may end up choosing the wrong business partner. In order for a partnership to do well, 90 percent depends on how the two partners are compatible....

Learn how your budget will change after you buy a home and how you can proactively plan for it. How To Budget After Buying a House Daniel Milan, managing partner of Cornerstone Financial Services in Southfield, Michigan, told The Balance in a phone interview that “to maintain your financial health as a new homeowner, prepare your budget for the changes you’ll face.” If you’re going from renting to owning, you’ll want to evaluate the changes in your regular monthly expenses....

A 1031 property exchange can be an effective tax-saving tool that enables a business to delay, not eliminate, taxes it would otherwise owe for the year it sold the property. To be eligible for the tax deferment, the business must comply with specific rules and timelines established by the IRS. This guide will cover the details of how to conduct a 1031 property exchange, as well as what to watch out for....

These 10 steps can help you achieve your business goals. Break Down Your Company’s Goals The first step in goal setting is to identify and break down what those goals are. Business goals are often long term, and they require quite a bit of work, time, and effort. It’s easier to focus on what you need to do right now and not get overwhelmed by the process if you break your goals down into manageable action steps, A good way to achieve this is by creating an action plan that’s made up of individual tasks that each includes one clearly defined action....