FICO Score: What It Is and The Main Categories

These percentages are based on the importance of the five categories for the general population. For particular groups – for example, people who have not been using credit long – the importance of these categories may be somewhat different. Payment History Account payment information on specific types of accounts (credit cards, retail accounts, installment loans, […]

Traditional Vs. Roth IRA: What Are The Differences

On one of my previous article, I’ve talked about the two types of non-employer sponsored retirement plan, which is the Individual Retirement Arrangement also known as IRA: The Traditional IRA and the Roth IRA. The Roth IRA is fairly new as the plan is only 13 years old (inception is 1998 as a result of […]

Traditional Vs Roth IRA: What Are The Similarities

On one of my previous article, I’ve talked about the two types of  non-employer sponsored retirement plan, which is the Individual Retirement Arrangement also known as IRA: The Traditional IRA and the Roth IRA. The Roth IRA is fairly new as the plan is only 13 years old (inception is 1998 as a result of […]

Top 4 Reasons Why People Start an Online Business

Easy access to real-time information has made the internet the go-to source for most of us. In addition, the internet has revolutionized the way of doing business influencing and changing the habits of various shoppers. Over 800 million have shopped online worldwide and the number of internet shoppers has grown by almost 20% every year. […]

4 Main Scholarship Search Sites For Selected Minority Students

The cost of going to college has been rising throughout the years and it is becoming less affordable for a lot of families. Most college students use some sort of financial aid to help pay for the costs of college such as student loans, grants, scholarships, IRA accounts, and other educational tax savings programs. Among […]

7 Quick Facts About Roth IRA Contributions

In general, contributions to a Roth IRA are made using your after-tax dollars. Thus, there is no upfront tax savings to you, which may seem a bad deal on your current year’s finances. However, the key advantage of this type of IRA is if you start receiving distribution come retirement time, you will not have […]

2011 Tax Tables and Rates

Every year the tax tables are updated for cost of living allowance (COLA). Your tax filing status determines what tax bracket you’re going to be at. Generally speaking, married people filing jointly (MFJ) usually receives the best tax rate. The United States tax system is progressive, which means that as your income increases, your tax rate increases […]

Home-Based Business Start-up Guide

There are millions of home-based business in United States and the number is still growing. More and more people are turning into running a home-based business because of the various advantages it presents. Did you know that one of the best ways to reduce your taxes is to start a home-based business? Did you know […]

Brand New Look for My 15-Year Old Car And How I Save Money On This

As part of our frugal ways, my wife and I share only one car and we were able to do so by deciding to move closer to where I work. This way, neither one of us has to take the public transportation. I have taken care of the “mechanical” aspects of my car by following […]

Early Withdrawal From IRA (Traditional): 9 Ways To Avoid the 10% Penalty

A distribution is considered an early distribution if it is made before you reach the age of 59 1/2 years. When you make an early withdrawal from IRA (Traditional), the funds will be included in your gross income and you will have to pay taxes on that. Please note that all distributions are subject to […]

3 Big Reasons Why You Should Save For Your Retirement

People have various reasons on why they prolong saving for retirement and majority can be attributed to the 3 poor savings habit. As an example, a lot of young people take retirement for granted easily because it is really hard to think what you’re going to do 20 or 30 years from now. They would […]

Business Plan: Why You Need One For Your Home Based Business

If you are just starting a home-based business, one of the questions that you may be asking yourself is “Do I really need a business plan?”  It’s just a home-based business and not a big conglomerate with huge revenues and a large customer base. Well, the answer is a BIG YES!! A business plan should […]