We all want to be good friends. However, agreeing to a friendship loan usually comes with a slew of problems. Below are five reasons to decline when your friend asks for a loan. 1. Lending money to a friend could damage your relationship. Lending money to a friend could damage the friendship if the loan proves to be unsuccessful. The same goes for cosigning. Once you become contractually involved, any friendship loan that goes bad will be your responsibility. After lending cash to a friend or family member, 21% say their relationship with the borrower failed. It's a sad statistic, and...
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In this busy world, are automatic payments helpful? If you're like most people, the answer is yes. A vast majority of our goods and services come with auto-pay subscriptions. Need to buy toilet paper? Get it delivered every month, automatically, then never run out again. While the set it and forget it model has a ton of benefits, there are a few things you should watch. In this article, we'll explain automatic payments in-depth, from the good to the bad, all the way to the ugly. Who uses automatic payments? Recent research has found that 89 percent of millennials have at least...
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Credit cards are a staple of finance. They allow you to borrow money to make purchases. Most have revolving balance systems, and you pay month to month until your debt is gone. While the arrangement is simple, many people are guilty of making the same credit card mistakes. What are the most common credit card mistakes? Let's talk about debt. Of all the credit card mistakes a person could commit, having too much debt is the worst. However, there's a caveat. Not all debts are bad. There are ways to use credit cards wisely. For instance, let's say you need new...
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The law requires employers to mail out W-2 forms no later than January 31. Being said, pretty soon, everyone will need to choose a tax preparer and file their taxes. Do you know what criteria your tax professional should have? Are there certain red flags? Find out before making your selection. Choosing a Tax Professional While the expertise of tax professionals varies, they all must have an IRS issued preparer tax identification number (PTIN). If they want to prepare your return for compensation, make sure your preparer enters their PTIN on the return filed with the IRS. They may omit the...
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Nothing tastes better than food prepared by someone else. With consumer demand at a historical high, restaurants serve millions of hungry patrons. It's an experience that leaves our stomachs full, but wallets empty. Truly, dining out expenses add up. Americans spend a lot of money dining out According to a 2017 survey, the Bureau of Labor Statistics reports that American households spend about $3,300 on dining out expenses. That's $600 higher than in 2014. The service industry continues to rise, and so does its gratuity expectations. Tipping culture remains a thing. It's all hard-earned cash, without a doubt. However, if we...
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Martin Luther King Jr. believed in equal rights. As an activist, he used his doctorate in theology to express his values. Additionally, he encouraged others to speak up for equality. You cannot study the life of King without being familiar with his inspirational "I Have a Dream" speech. Moreover, Martin Luther King's vision for society remains a part of modern history. He will forever be one of the most impactful figures on American culture. Why do we celebrate Martin Luther King Day? In the 1960s and 70s, Martin Luther King's vision was controversial. He is most known for his campaigns to...
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If you're the type to try new things at the beginning of the year, be aware when investing. The January Effect could cost you big money. Around this time each year, shady investment firms show how they've managed their client's portfolios to increase their earning's growth. Not only is this inaccurate, but it could cost big money. Before investing, do some research. The more you know, the better your chances are in making long-term profits. What is the January Effect? The January Effect is the seasonal trend for stocks to increase in January. Since the early 20th century, the stock...
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The flu takes a toll on your body. It makes your head hurt, and your muscles ache. On top of that, when you're sick, it's hard to get out of bed. While flu season severity and length fluctuate, there is one thing that's for sure. The flu has a high fiscal impact on the economy. Currently, the flu season severity is at an all-time high. Additionally, seasonal influenza activity in the United States continues to increase. This article will cover what you should know, and how you can be proactive. 1. Influenza is unpredictable, yet manageable. On average, the daily cost...
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