Lower Your Taxes and Start Investing by Opening a Traditional IRA Account For Retirement

Updated for tax year 2019. For tax year 2019 the contribution limit for Traditional IRA and Roth IRA accounts is $6,000. If you are over the age of 50 you can make an additional catch-up contribution of $1,000. The deadline to file 2019 taxes is Wednesday April 15, 2020.   Throughout the year, but most […]

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What You Shouldn’t Do with Your Holiday Credit Card Debt, and How to Avoid a Repeat Next Year

  Holiday credit card debt is kind of like the flu. Once you have it, it tends to stick around for a while. If you find yourself overwhelmed with holiday credit card debt, you’re not alone. Here are five simple ways to avoid a repeat of your credit card debt next year. (Updated for 2020)   […]

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How Much Money Do You Need to Start Investing? 6 Ways to Start Investing with a Little Money

How Much Money Do You Need to Start Investing? 6 Ways to Start Investing with a Little Money

  It’s one of the main reasons most people don’t start investing. The perspective that in order to start investing you need a lot of money. This misconception inevitably adds to the confusion surrounding investing so for most the topic becomes an afterthought when it comes to managing their finances. However, I can tell you from past […]

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Cutting Cable, Saving Money and Getting Comfortable with Feeling Uncomfortable

  It’s been eight months since cutting cable to save money. That’s right, no more Fox News, no TNT, History channel or HBO. Actually, it was DirecTV, so I guess you could say I cut the satellite signal to eliminate premium TV services. (Cutting cable, cutting DirecTV to save money – same difference right?) Initially, […]

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What’s Not Important When Paying Off Debt! Don’t Put the Cart Before the Horse

  Finding good practical advice on how to pay off your debt is easy.  A simple Google search will get you a whole bunch of great articles. Including the ones, you can find here on FTP. However, what you won’t find often enough is articles on what’s NOT important when you’re paying off debt. The things […]

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Understanding Robo-Advisors and Automated Investing Video

Understanding Robo-Advisors and Automated Investing

  Robo-advisors and automated investing platforms are becoming one of the most popular ways to start investing. It’s estimated that there are currently over 100 robo-advisor and automated investing platforms operating in the United States. If you’re new to investing and finding all the terminology a bit confusing you’re not alone. You may find yourself […]

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3 Reasons Why You Need an Emergency Fund & How Much Cash to Stash

Why You Need an Emergency Fund

  Are you wondering why you need an emergency fund? I am sure you’ve heard it many times before, it’s considered one of the most important aspects of successful money management. An emergency fund is where you stash cash so you’re prepared for those unexpected emergencies that life throws at you every now and then. […]

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How to Stop Using Credit Cards – Telling Yourself Little White Lies

How to Stop Using Credit Cards – Stop Telling Yourself Little White Lies

  I was recently reading some posts on Reddit on how to stop using credit cards. Some individuals discussed how they benefit from credit card use, others explained how they don’t trust themselves with credit cards. In classic Reddit fashion, the discussions were direct and spirited. Debating the pros and cons of credit card use is […]

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11 Reasons to Save Money and Pay Off Debt – The Most Important Ones

11 Reasons to Save Money and Pay Off Debt – The Most Important Ones

  So what are the benefits if you save money and pay off debt? Being debt-free and cash-rich is just a start. Learn about the other 11 reasons below. Typically a discussion about personal finance goes something like this… Saving money will help you become financially secure. Having debt costs you more money. Paying off […]

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Setting Financial Goals with a Five-Year Plan, The Tiny Tweaks Principle

Setting Financial Goals with a Five-Year Plan, The Tiny Tweaks Principle

  Most often when we think about setting financial goals we think of the most fundamental aspects of our finances. Areas we manage and feel we can control on a regular basis. For example, we set financial goals around budgets, to lower monthly expenses. Saving money, to put more money in our bank account. Paying […]

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