We have a guest attorney here today to offer you some tips on avoiding bankruptcy. As someone who has "been there done that" while it might seem like a quick fix at the time, there are many downfalls. Hi, I’m David M. Offen, Esq. and I’d like to share with you four ways to avoid bankruptcy, from the perspective of a Philadelphia bankruptcy attorney who has seen it all. 1. Live Within Your Means By far, this is the most problematic area for individuals and for families. We are pitched … [Read more...] about 4 Ways You Can Steer Clear of Bankruptcy
If you are operating your household on one income or living from paycheck to paycheck, you understand the importance of managing every dime that you earn. Use these tips to learn how to manage your money and save a little for a rainy day.
When it comes to financial habits, budgeting, saving, and setting important goals are all well and good. However, mostly they look at the money that we spend actively. Modern life tends to be a little more complex with that, with many of our transactions being done automatically. As such, it’s important to have a “money day” once a month that looks at where your money is going without you actively spending it. Here, we’re going to look at what you should do with your money day. The Danger … [Read more...] about Why You Should Have a “Money Day” Every Month
It has been said that the only certain things in life are death and taxes. Americans can now add student loan debt to that list. As of February of 2019, some 45 million Americans owed a total of $1.56 trillion. The average monthly student loan payment was $393, and some 11.5 percent of borrowers were delinquent. When you consider the fact that nearly 70 percent of students in college have them, it can be argued that student loan debt has become a fact of life in the United States. Which raises … [Read more...] about What Happens to Student Loans When You Die?
Gambling has a bad reputation for being an addictive and dangerous vice. The risk factor involved in gambling is high if you approach it irresponsibly, for example if you allow yourself to become too attached or frustrated by your losses you could end up betting and losing everything. However, there are ways to go about gambling which make it a lot safer, and a potential source of a little extra income for you. You could even become the next jonny jackpot winner if you’re lucky, so here’s how to … [Read more...] about The Rules of Gambling and How It Can Help You to Up your Income
The general consensus around money is, don't spend what you don't have. It is the basic rule of life, right? To not use or waste what you cannot replace or that which does not belong to you? That makes sense in some ways, but the financial world is so complex that you shouldn't rely on blanket terms or phrases. In the world of making money the saying usually goes: You have to spend money to make money. Although it's easy to think this only applies to the wealthy, time and time … [Read more...] about Buying Yourself Out of a Financial Hole
Maintaining your household doesn’t come for free. From keeping your family healthy to ensuring that your home remains safe, the list of your responsibilities is long. However, while there is a lot to do, there are also plenty of opportunities to cut down your household expenses if you’re smart about it. Indeed, there’s no denying that the American Dream of homeownership can quickly get out of hand and becomes a financial burden if you’re not careful. However, with some strategic tips and tricks, … [Read more...] about 4 Household Decisions That Can Save Money
Money management is one of those things that pretty much no one is completely “comfortable” with. Even if you feel like you’re on top of things, it is all but inevitable that you will sometimes spend more in a particular budget category then you should have, that you will have less money coming in than you thought you would on a given month, or that you will have forgotten about a large annual expense – at least from time to time. Nonetheless, when it comes to securing your well-being, and that … [Read more...] about Why an Envelope Style Budgeting System Might Be a Lifesaver
It's true that everyone has a right to live where they want to live. You're allowed to live anywhere you desire. However, where you live may affect your finances. It can either help you flourish or hinder your advancement. Before you move to a new area, you should consider the following elements that may change your financial status: Cost-of-Living Differences The cost-of-living refers to your everyday expenses like housing, food, necessities and so forth. The price of such things varies from … [Read more...] about How Your Finances Are Affected By Where You Live
The average person has a credit card debt of over $6000. That’s a pretty scary number and it might put you off the idea of using credit cards at all. It’s so easy to get yourself into a cycle of debt if you’re using credit cards all the time, but that only happens if you’re using them wrong. The truth is, credit cards can actually be a good way to manage your finances if you know what you’re doing. Here’s how to use credit cards properly and avoid getting into financial trouble. Choose The … [Read more...] about How To Use Credit Cards Without Ruining Your Finances
A lot will change when you start a family. Of course, most of those big changes will be expected. However, what very few new parents know is that having children can actually change their tax status and how they need to go about filing their taxes. Most parents don’t realize this until it is too late and they have to change all of their documents and tax files at the very last minute. Don’t fancy all that stress? Don’t worry; if you read all the tips in this blog post, you will learn exactly how … [Read more...] about Tax Doesn’t Have to Be Taxing for Families
How to Deal with a Sudden Loss in Income There is no doubt that experiencing a sudden drop in your income is a highly stressful experience which can be very difficult to deal with. However, it doesn’t mean that your finances have to go into a terminal state of decline. But you do need to take action to ensure that you are dealing with the situation in the best way possible. Here, we will be discussing some of the best ways that you can weather the storm of a sudden drop in income and come out … [Read more...] about How To Deal with a Sudden Drop in Income
During your lifetime, there are all sorts of occasions when a financial emergency could arise and you need to deal with it quickly. It could be that you lose your main source of income, you are hit by an unexpected bill or economic conditions put your business in danger. Whatever the case, you need to make sure that you bounce back and get back on track financially at the earliest possible opportunity. So, in this blog post, we are going to be running through just a few of the best ways that you … [Read more...] about Key Ways to Handle a Financial Emergency