Unfortunately, there are many reasons this could happen, and even worse, it happens to many taxpayers each year, causing surprise, confusion and frustration.
When the Love Boat morphs into the Titanic and you are flailing in the icy waters of the North Atlantic, the banks are not rescuers, they're sharks..
When you begin to see that good feeling is part of your essential nature and not something that can ever be truly impacted by how much or how little you have, the game of money becomes considerably easier to play.
Don't assume that the grass is always greener, or the water bluer, a thousand miles away from home. No matter where you live, there are national and state parks, gorgeous lakes, vibrant cities, and idyllic summer resort towns within a day's drive.
We are passing our bad habits down to our kids. They see us spend but not save, pay bills or give to charity. You have to get your child involved in all of it. The only way to get money is to earn it. Make sure your handling of money is visible and simple for them to understand.
The FHFA just announced that it will no longer allow Fannie and Freddie to purchase or guarantee so-called "non-qualified" mortgages with more than 30 years amortization or that have interest only payments, among other restrictions.
While summer jobs and earnings have expected tax implications for the summer worker, much to the surprise of the parent, there can be an impact on their tax return too.
All over the country, we will honor and celebrate our moms, take them to nice restaurants and shower them with gifts. But let's make sure to especially thank them for their economic sacrifices. On average it can cost around $176,890-$353,410 to raise a child from birth to 17. And that's not even including college!
With Mother's Day around the corner, I've been thinking a lot about the many awesome life-lessons that our moms have shared with us. Taking a closer look, I found that many of these lessons could be translated into financial messages as well.
There are many similarities between 401(k)s and IRAs (Individual Retirement Accounts), but there are also some notable differences. How do you know which type of account you should contribute to?
As school districts, teachers, and book publishers nationwide scramble to rewrite their lessons so they're in sync with the Common Core guidelines, what better time to shoehorn in some interesting math problems that also teach key money concepts?
Some call it the Student Loan Bubble -- I call it crazy. And what better time to discuss student debt insanity than now, as countless soon-to-be graduates prepare to slip on their caps and gowns?
Now that the long-debated estate tax rules have finally been settled, let's get real. It pays to have a plan for distributing your assets, and if your finances are in good shape, there's no reason not to start sharing the wealth while you're still around to enjoy helping others.
An important part of raising financially responsible children is knowing that they learn a great deal by example. Have you thought about getting your financial "house" in order? You know it's the sensible thing to do, but as a busy mom you have a long list of things that you give higher priority.
Yes, the federal government pays more for B.A.s than the private sector does. The reason, though, is not that the federal government overpays for credentials. The reason, rather, is that the federal government overpays for breathing.
The maximum, not the expected age of life is the only appropriate planning horizon. Stated differently, we need to plan to live to the last possible date for the simple reason that we might.