💡Rethink your paying for college strategy
Unsurprisingly, Boston University's tuition increased since this blog was initially posted last year. Here's 3 outside-the-box ideas to make college affordable
What Can I Do with My Excess Cash?
Set aside cash for an emergency fund (at least six months of living expenses). Pay down, or pay off, outstanding debt, especially high interest credit cards. Consider making extra payments toward student loans, auto loans and even your mortgage, depending on the interest rate on the debt. Review your retirement plan contributions to determine if you can contribute more to your (or a spousal) IRA account or retirement plan this current tax year.
In a divorce, are all assets equal?
Many times, one spouse wants to keep the house in a divorce, yet houses come with their own set of issues. There are property taxes to pay, insurance, upkeep, lawns to mow and possibly snow to shovel. On the positive side, the house over several years, could appreciate substantially. Then again, one cannot simply take a window out of their house and go buy groceries with it.
Reducing your tax bill for 2023
Over the years I’ve asked my CPA the same question that you have probably asked yours: “What can I do to lower my tax bill?” After the close of the tax year the answer is unfortunately uniform: “Not much.”
👩🎓Options with excess funds in a 529 plan
It's a good problem to have: Let's say you saved too much for college for your child in a 529 plan.
Teaching kids to be financially responsible
Although discussing the topic of money with your kids can be uncomfortable, it is a necessary step in their development. I've said in the past that I came out of high school knowing what Sine, Cosine, and Tangent were but if not for my parents, wouldn't know how to balance a checkbook. Few schools (if any) teach courses on how to handle money the right way. Without learning money management skills at home, your kids are going to be in for a few nasty surprises when they get older.