Money Tips Network
Power of attorney for college students
Power of attorney is the ability to legally sign someone else's name as if they had signed themselves. It can be a powerful tool to have amongst family members in case of emergency or incapacitation.
A couple of months ago, we dropped our daughter off at college in a different state. Along with all of the other changes that this brings about, we saw possible cases that would make things difficult should she get into an accident. She was no longer a minor and as such we no longer had the same kind of access to her medical treatment records.
A power of attorney, in particular a medical power of attorney, and a Health Insurance Portability and Accountability Act (HIPAA) release would allow us to make some of these decisions and to access this information.
Five inexpensive things that make life easier
Once our needs are met (food, clothing, shelter), then a great use for money is to make life easier.
This article discusses five inexpensive ways I've found that make our lives easier in an outsized way.
Buying back your time or buying down your aggravation
Such things can either buy back your time or buy down aggravation.
Buying back your time lets you repurpose your time to something more pleasurable or fulfilling. Paying someone to mow your lawn or clean your house is an example of this.
Buying down your aggravation lets you enjoy your time more by making regular activities less stressful. Reliable appliances just plain work better, for example.
Bus tubs for collecting cups and dishes upstairs
I like my coffee. A lot.
Is real estate an asset or a liability?
Photo by Tierra Mallorca on Unsplash
The question of whether real estate is an asset or a liability is not a new one. Back in 2009, Harlan Landes, at the time a.k.a. Flexo, took issue with Robert Kiyosaki‘s definitions of asset and liability:
An asset is something that puts money in my pocket.
A liability is something that takes money out of my pocket.
Save Big on Gas and EV Charging Stations With the Right Credit Card
Link for teaser title:
https://www.wisebread.com/compare/pxd-2023-bofa-customized-cash-rewards-review
Here’s a card that offers 3% cash back on gas and EV charging station purchases, plus a $200 online cash rewards bonus offer.
Why Online Shoppers Will Love This Credit Card
Link for teaser title:
https://www.wisebread.com/compare/pxd-2023-bofa-customized-cash-rewards-review
This card offers 3% cash back on online shopping — newly expanded to include cable, streaming services, internet, and phone plan purchases.
A Credit Card that Let's You Pick Your Own Rewards
Link for teaser title:
https://www.wisebread.com/compare/pxd-2023-bofa-customized-cash-rewards-review
New! Enhanced options to earn 3% cash back based on Bank of America customer feedback. Maximize your rewards with 3% cash back in the category of your choice — with newly-expanded options.
Watch your recurring charges to save money
Businesses LOVE automatic recurring subscriptions. Once you sign up, it's up to you to cancel, and they get paid until you do. If you forget about the subscription, no problem for them, you just keep paying.
Photo by Karolina Grabowska
These subscriptions add up. An unused $7.99 monthly subscription is nearly $100/year down the drain. How many of those might you have, and what could you do with that money?
Just knowing what you have is half the battle. There are some services that will go through your bank and credit card accounts to see what recurring charges you have, and offer to cancel them for you. But there's an often-substantial fee for doing it this way.
Filing Form 1065: My escape plan
Filing my Form 1065 U.S. Return of Partnership Income is getting to be a bit of a drag each year.
Photo by Thom Holmes on Unsplash
If I do this right, I'll have to file one more set of 1065s, in March 2024, and that's it.
Late 1065 filing that isn't actually late 1065 filing
We have two limited liability companies (LLCs) and my wife and I are equal owners of each. “We're in this together” and all that.
We're required to file IRS Form 1065 and two Schedule K-1s for each LLC by March 15th.
Single and stressed? Financial advice when flying solo
Singles and money is a topic often missed by the media. Maybe you're a student, single by choice, divorced, or widowed. You'll discover: blind spots where singles are vulnerable, home ownership strategies, how to invest and plan for the future.
The post Single and stressed? Financial advice when flying solo appeared first on Squawkfox.
Optimizing for joy
Hello, friends. It has been a l-o-n-g time since I’ve written online. Well, that’s not entirely true. I’ve been writing a ton at Facebook. In fact, it’s as if Facebook has become my personal blog. But that’s about to change. Everything is about to change. Let’s talk about it.
As you’re well aware, 2022 was one hell of a year for me. It was a year of death and destruction. That sounds like hyperbole, I know, but it’s not. It felt as if my world were crumbling around me.
After my mom died in October, I made a vow. I was going to do whatever it took to get myself back to the same mental and physical spaces I inhabited a decade ago. That span of time between 2012 and 2016 was Peak J.D., and I wanted more of it. Maybe I couldn’t achieve exactly the same state of mind, but surely I could get closer than I’ve been the past few years.
For goodness’ sake be happy with what you have
Hearing people complain about how unhappy they are with their high-end stuff makes me really sad.
They possess something pretty fancy that makes people go “Wow!” … and then they point out all of the flaws in it or talk about similar items that are even better than the one they have.
Photo by Count Chris on Unsplash
People aren't down on their stuff in the beginning
I have a Facebook group on currency collecting that has nearly 20,000 members.
How to lose money selling on eBay
Selling things on eBay can be a nice side income. The premise is simple: buy low, sell high.
EBay began as an auction-only site. Potential buyers bid against one another for an item, just like in a live auction.
Five years later, in November 2000, eBay introduced its Buy It Now option. This allowed sellers to set a price for their item, and sell it to the first buyer to accept that price.
Each kind of listing format has its advantages and disadvantages.
There are advantages to the auction listing format:
- Auction listings tend to get more eyeballs on them, especially if the starting bid is very low.
- Auction listings are good if you aren't really sure what an item is worth. The market decides for you.
Some disadvantages to the auction listing format:
Canadians should be wary of loyalty programs — not enticed by them
The true value of any loyalty program lies in its ability to drive changes in consumer behaviour. If you're not careful, it's easy to get duped into spending more for the thrill of getting something for free.
The post Canadians should be wary of loyalty programs — not enticed by them appeared first on Squawkfox.
FI Chautauqua in Ecuador: A week exploring money and meaning!
Howdy, friends! This summer, there will be another chautauqua on financial independence in Ecuador. You should consider attending. These Ecuador chautauquas — which are unrelated to the European chautauquas — are always a fun, educational, and bonding experience.
Clarification: At some point, chautauqua founders Cheryl Reed and JL Collins parted ways. Now JL runs the European chautauquas — which are on hiatus — with Katie and Alan Donegan. Cheryl continues to run the unrelated Ecuador gatherings. Both events are excellent.
I often speak about the intersection of money and meaning when I attend.
How to overcome 4 costly trends holding you back
Our "new normal" may be overwhelming today, but you'd be amazed how understanding a little bit of money-psychology could improve your life forever.
The post How to overcome 4 costly trends holding you back appeared first on Squawkfox.
A clear line
Deciding to extend my sabbatical from Get Rich Slowly indefinitely has been liberating. The moment I committed to this, it was as if a heavy load were lifted from my back. I’m able to pursue other passions now without regret. I don’t feel guilty. I don’t feel like I need to give myself “permission”. I just do what I want, and it’s awesome.
Isn’t this what financial independence is supposed to be?
How I Spend My Time
My food and fitness choices have remained strong now for six weeks. (Official start date of my re-dedication to health? December 13, Taylor Swift’s birthday.) I’m lifting weights three times per week. I’m walking roughly five miles per day. I’m doing yoga. My alcohol consumption is way down. More importantly, I’m making smarter food choices.
2023: The year of me
Last night, for the third Wednesday in a row, I ventured to the Whiteside Theater in downtown Corvallis to watch an old movie. Two weeks ago, it was National Lampoon’s Christmas Vacation. Last week, it was It’s a Wonderful Life. And yesterday was Star Wars. The place was packed! So fun to watch a favorite film in an old theater with a couple of hundred other fans.
How to survive a market crash
When is the market crash coming? What stocks should I buy? How can I time the market? Behavioral Economist Dan Ariely answered with a lot of science and insight. His advice may surprise you.
The post How to survive a market crash appeared first on Squawkfox.
Track your money with the Free Budget Spreadsheet 2023
Download the free budget spreadsheet to build a simple, advanced, or household budget. A template for budgeting for families and singles too.
The post Track your money with the Free Budget Spreadsheet 2023 appeared first on Squawkfox.
A values-driven life
Hello, friends. Just a quick note to let you all know that my life, at last, seems to be settling. A full two months after the death of my mother, the fog has lifted and I find that I'm motivated to pursue productive pursuits once more.
I spent much of the past several weeks doing some serious soul-searching. It's clear to me (and to Kim) that above all else, I need to make 2023 the year of me.
2023 — The Year of Me
More than a decade ago, I got into the habit of theming my years and months. It was fun! It was also fruitful. Whenever I decided to devote a span of time to one thing, I had great results, whether it was with fitness or writing or dating. This habit of theming lasted for a couple of years, then fell by the wayside.
Well, I've spent too long putting myself second. Or third. Or ninth. Starting yesterday, my aim is to put myself first for the next year (or more).
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