How Much Should I Save Monthly if I’m in Debt?

Saving money is always a priority, but the amount you save depends on your other goals, such as paying off debt. A rule of thumb is to save at least $1,000 to cover emergency expenses. Consider labeling your emergency account, “Debt-Proof Insurance.” The title is a reminder that the account exists to keep you out…

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All the Resources You Should Know About for Parenting During COVID-19

The COVID-19 quarantine turned millions of people into instant home-school parents with little time to prepare. Luckily, many organizations recognize the strain this has put on parents’ finances. There are lots of resources parents can use to ease this financial burden: Free or Reduced Cost Internet Resources Here are some options that you should check…

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Game Plan for Starting a Small Business

When I first became a financial planner, my specialty was small business owners. I also headed my local Chamber of Commerce’s Small Business committee. Over the years, I received a lot of excellent business advice. Below are the top five most impactful business tips I’ve heard: Get your personal financial house in order If you…

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How to Make a Budget for Your Family During COVID-19

“How can you budget your money when you have the same amount coming in as you did before, but now you have everyone at home using more electricity, gas, and water and eating more food?” Submitted by Kelly B. A budget is nothing more than deciding how you will spend money before you get it.…

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If I receive unemployment insurance, are my benefits taxable?

Unemployment benefits are taxable income. They are subject to federal and state taxes (if your state taxes income). You can choose to withhold 10% in federal taxes from your benefits by completing a W-4V and giving the form to your unemployment office. Some states automatically withhold taxes; some states do not. Go to your state’s…

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Should I defer payments on my bills?

The pros and cons of deferring payments during the COVID-19 crisis As you look for help to make ends meet, you may be looking at the increasing amount of creditors offering the ability to delay payments. It’s great companies are taking quick action to help with the financial impact of COVID-19. But proceed with caution…

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Will I receive a stimulus check?

Note: This article is about the first stimulus payments as part of the CARES Act from March 2020. Learn more about the second and third rounds of stimulus payments. How does the stimulus check work? The coronavirus stimulus check is an advance on a 2020 tax credit. This means if you do not get a…

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Financial Tips for the Coronavirus Crisis

Every 5-10 years, we face a major crisis. Today it’s the Coronavirus, a decade ago it was the housing bubble burst, before that September 11, and before that the dot.com bust. My point is that a crisis will come and go, but the sound financial principles needed to weather the storms of a crisis never…

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