Positive cash flow, or working capital, as its often referred to is one of the most common challenges business owners face. Whether for payroll, inventory, equipment or any other expense, having extra funds on hand can go a long way toward keeping your company running smoothly. Not only that, it can also help you make decisions and take steps to grow your business. You know you need working capital, …Read More
Q. I attended a school and accrued over $22,000 in student loans. I feel that I was misled to believe I was guaranteed to be able to get a job when I graduated. I’ve heard of the borrower defense to repay rule but what is it and who qualifies for student loan forgiveness? Dear reader, The plan made popular during the Obama administration is most widely known for being …Read More
For many people, October means the arrival of cooler weather, the beginning of the autumn season, and the start of the endless fall of leaves that must be raked. But for others — of all ages — October means just one thing: Halloween. Yes, Halloween isn’t just for the kids these days; nearly 70% of consumers plan to celebrate Halloween this year, and they’ll spend an estimated $9 billion …Read More
Q. We’ve used our credit cards too much and gotten ourselves into a stressful situation. We make a decent income, but the monthly payments are putting financial strain on our budget. We would like to get a home equity loan to pay off all these cards and just have one payment, but we do not qualify for a new loan due to our debt-to-income ratio. Not too long ago, my …Read More
One of the most underappreciated yet vital aspects of running a business is bookkeeping. Far from the most glamorous part of entrepreneurship, keeping detailed financial records can be the difference between success and bankruptcy for small businesses. Bookkeeping requires time and effort, but you cannot put a price on having a clear sense of your debts, deposits and credit as you make important decisions. Between the hundreds of companies …Read More
Q. I’m 65 years old and my wife is 59. We’ve got about $40,000 in credit card debt and are planning to pay about 90% of it off with remaining 401k money. We live on a tight budget and will have basically no savings. The cost of living is high where we live and I don’t know what to do. Please help. Dear reader, I understand the urgency …Read More
Running your own business certainly has many perks. You can have more control over your work schedule, hire people around you, and experience the excitement of building a company from the ground up. But, being a small business owner also comes with responsibilities that are a little less enjoyable—like paying taxes. Few business owners find tax preparation to be fun, but all must bite the bullet and get through …Read More
For many students, college is the ideal time to try new things and take on new challenges. One important challenge to consider taking on while in college is that of establishing and building your consumer credit profile. Not only will most people benefit from having a solid credit history when they enter the workforce, but college students are eligible for student credit cards, which can be one of the …Read More
Q. In March of 2018, I decided to go through a debt settlement program. Big regret! The program they put me on is for 5 years. They have settled with one company thus far and they take their settlement fee off the top which is more than the monthly amount they are paying the creditor. Their method is baffling. I feel I made a bad decision and was wondering if …Read More
Your commitment to building an emergency fund has been rewarded with a healthy financial buffer. If you’ve been following the general advice regarding the size of a “rainy day” fund, you should have saved at least three-to-six months worth of living expenses. But, when should you actually tap into this emergency fund? What is considered a financial emergency? Each person has his or her own ideas of when it makes …Read More