Author Archives: Teri Newton

ID Theft – 7 Unauthorized Credit Cards Opened In My Name

I recently became one of the 9 million people to become victim to identity theft this year in the United States. Much of what I have learned in the last few weeks I share to spark outrage at what is … Continue reading

Posted in Credit Cards, Personal Finance | 16 Comments

How to Save Money at the Dentist – Get a Second Opinion

I have noticed something really strange when it comes to dentists. I generally find that I am unwilling to pay $30,000 for a car when I can find a perfectly good one for much and I am not as concerned … Continue reading

Posted in Health, Insurance, Medical, Saving Money | 20 Comments

The Student Loan Tax Break Information Loan Brokers Won’t Tell You

I think almost every week I hear someone who makes over $70k a year mention their wonderful student loan interest tax deduction. It’s time to take a few minutes to educate the masses about the student loan interest. Plain and … Continue reading

Posted in Debt, Education, Taxes | 6 Comments

Why You Should Finance A Car When You Purchase From A Dealership

Something has struck me as very odd over the years. I have mostly lived my life with great disdain for car dealers. As someone who was well taught how to shop for used cars from private parties, I never really … Continue reading

Posted in Cars, Personal Finance, Saving Money | 13 Comments

Not All 401(k) Plans Are The Same – Five Issues Everyone Should Know

I personally deal mostly with taxes in my professional capacity of an accountant. However, I have also come across a lot of the ins-and-outs when it comes to 401(k) plans as I used to audit 401(k) plans for large companies, … Continue reading

Posted in Investing, Retirement | 16 Comments

Why You’re Likely To Be In A Higher Tax Bracket When You Retire

Something has been bugging me about IRAs lately. Most of the time I read an article or discussion about Traditional IRAs, as opposed to ROTH IRAs, I see that it is a pretty common assumption that income tax rates will … Continue reading

Posted in Investing, Retirement, Taxes | Tagged , , , | 9 Comments

Rules You May Not Know About When You Use Your Home As An ATM

The state of California recently reviewed a sample of state tax returns which claimed large mortgage interest deductions and found that 75% of the tax returns had claimed excessive interest deductions. There are rules that limit how much interest you … Continue reading

Posted in Debt, Housing, Taxes | Leave a comment

Minimum Wage Increase & Tax Changes

On May 25, President Bush signed a bill that included a minimum wage increase as well as a few tax provisions. Federal Minimum Wage Increased: The federal minimum wage will increase to $7.25/ hour over the next two years. The … Continue reading

Posted in Taxes | 1 Comment

Options When You Don’t Need Your Gift Cards

Before you throw out your unwanted gift cards, keep in mind that there are many ways you can get a little something in return for them. Below are five things that you can do with unused gift cards: Sell on … Continue reading

Posted in Making Money | 3 Comments

Being Young Changes All The (Financial) Rules

I keep reading general financial advice and disagreeing as it applies to me. Obviously, every one has a unique financial situation. Overall, it is better to get financial advice tailored toward your own situation. But over and over I notice … Continue reading

Posted in Investing, Retirement | 4 Comments

Basics To Figuring Out Your Tax Bracket

When talking about taxes, the issue of tax bracket often comes up and it’s an important factor in deciding what tax options are best for your situation. The problem is that the average person probably doesn’t know which tax bracket … Continue reading

Posted in Taxes | 10 Comments

Why It Pays To Wait On Big Purchases

Even though I live a relatively frugal lifestyle, I enjoy nice things. The ironic thing is that if we purchased things like the average American, there is no way we could enjoy these nicer things. But by taking a few … Continue reading

Posted in Budgeting, Personal Finance, Saving Money, Shopping | 4 Comments

The Poor Have Less Debt in High Cost of Living Areas

According to a study done recently by brookings.org, low-income families in higher cost of living areas had less debt (including mortgages) than their poor counterparts in areas with lower costs of living. There was a very clear inverse relationship here … Continue reading

Posted in Personal Finance | 1 Comment

Tax Free Free Investment Gains From 2008 – 2010

Just when you think the tax code couldn’t get more complicated, we approach 2010, when a multitude of taxes are waived and taxpayers are given large breaks (e.g. estate taxes repealed in 2010). There is one newer tax provision, however, … Continue reading

Posted in Investing, Taxes | 18 Comments

Two-Income Trap: Why Many Couples Shouldn’t Both Be Working For The Money

No doubt you have heard of the Two-Income Trap. I think a major issue that is often overlooked with the Two-Income Trap are taxes. I come from a situation where when it came down to having kids and wanting a … Continue reading

Posted in Budgeting, Making Money, Personal Finance, Taxes, Work | 39 Comments

The Confusing Process Of Measuring Net Worth & Financial Progress

I have been searching the web for months, looking for ways to measure my financial progress, and have come up pretty empty handed. By merely looking at my peers and neighbors there is no doubt we are far ahead of … Continue reading

Posted in Personal Finance | 9 Comments

Kiddie Tax

I’ve been noticing a lot of confusion on the kiddie tax rules lately so figured it was time to break it down. Too many parents are deciding not to put a token amount of money in their kids’ name in … Continue reading

Posted in Taxes | 2 Comments

Why I Say Buy A Big New House

Hanging around the frugal online personal finance communities I see the general advice to buy the cheapest house you can afford. I disagree with this pretty heavily. We moved to a lower cost of living area in our early 20s … Continue reading

Posted in Housing, Investing, Personal Finance | 30 Comments

Buying A Used Car

When shopping for a used car you can take two very different routes. In my younger years with much less cash I always bought used from a private party. But you can also find some pretty good deals at the … Continue reading

Posted in Cars | 6 Comments

Frucall

If you have ever been in a brick and mortar store and wished for the convenience of online price comparisons when deciding on a purchase, there is a service out there that tries to bring just that to your cell … Continue reading

Posted in Saving Money, Shopping | 1 Comment