Ben Edwards's Blog: Money Smart Life, page 32

What Investments are Tax Free?

What investments are tax free? Probably at least a few more than you think. Especially when you consider that where you have your money easily has the biggest impact on what is free of taxes and what is not.

Let’s look at tax-free investments in the usual – and not so usual – places.

1. Municipal bonds and municipal bond fund interest.

Talk about tax-free anything, and municipal bonds are the default conversation. They are tax free for federal income tax purposes, and also from state income taxe...

What to Do if You’re Having Trouble Paying Your Student Loans

We’ve all heard it said that student loans cannot be discharged in bankruptcy, so what do you do if your financial situation is a wreck – or if you’re unemployed – and simply don’t have the money to repay? There actually are a couple of ways to manage the situation even if the bankruptcy option doesn’t exist.

One comes in the form of a government program, and the other is a matter of financial guerrilla warfare.

Income-Based Repayment Plans (IBRs)

If you’re having trouble paying your student loa...

Smart Places to Keep Cash

There’s nothing more liquid than cash. Having access to cash when you need it is an important part of financial planning.

It’s not just about keeping cash in an emergency fund, either. You need to make sure you have access to cash even during times when you might not have immediate access to your bank account.

Immediate Cash: Keep a Small Stash

I like to keep at least $50 in my purse so that I am prepared for situations in which cash might be needed. Sometimes, at the farmer’s market, or at othe...

401(k) Loan – Is Borrowing from Your Retirement Smart?

In these tough economic times, it can be tempting to see your retirement account as an emergency fund. You can tap those assets when you are in a pinch. And, if you feel bad about it, you can get a 401(k) loan, so that you are essentially borrowing from yourself.

Advantages to a 401(k) Loan

The main advantage to the 401(k) loan is that you are borrowing money from yourself. You receive your loan, and when you pay the interest, you are paying it back into your retirement account.

Many people like...

How to Choose a Financial Advisor

For the same reasons people bring their cars to mechanics and their taxes to CPAs, many who invest for their future do it with the help of a financial advisor. It could be a lack of time to do your own due diligence, or the inclination. Maybe it’s the idea that “most” financial advisors spend their entire career learning and training at their craft in order to help you. Whatever the reason, picking the right one can be a very tricky process.

What’s in a Name?

These investment individuals go by...

How to Get Free Books Online

I love reading. I’m always looking for something new – or even not so new – to read. If you are serious about reading and about saving money, you can look for free books online. If you have an e-reader, it’s that much easier to download free books from some sources.

Here are some ways to access free books with the help of the Internet:

1. Get books from publishers.

If you are recognized as a book reviewer, you can get free books from publishers for review. An established blog in a particular nic...

5 Home Maintenance Projects to Save You Money

It’s often said that when money is tight, maintenance is the first thing to go. When you own a home, skimping on maintenance in any way can lead to bigger – and much more expensive – problems later. Home maintenance truly comes within the old saying, an ounce of prevention is worth a pound of cure.

What maintenance tasks can you take on that will save you big money later?

1. Caulk windows, doors and siding regularly.

Cracks in the seals around windows and doors, or in the joints of wood siding,...

Comparison of Delta’s American Express Cards

Traditionally, banks have offered items as cheap as toasters in order to entice customers to open a new account. But with the advent of reward credit cards, banks found out that offering a free flight was much more attractive to most of their customers. But eventually, earning frequent flier miles became just one of the many benefits offered by these cards. Today, Delta Airlines and American Express offer four versions of their SkyMiles card for consumers and three for businesses. So how do y...

Good Investments in a Recession

Are there truly any good investments in a recession? On the surface, that may even seem like a ridiculous question. After all, recessions are characterized by falling asset values – stocks, real estate and even bonds can fall in price. So why would you want to be in risk type investments at all during a recession?

The answer is timing. At what point in a recession you buy into any given asset class will largely determine whether it will succeed as an investment or not. But one thing is certain...

4 Things You Can Learn from Your Mortgage Statement

Most of us, when we buy homes, use mortgages to make the purchase. However, it’s easy to lose track of how your mortgage payment breaks down, and what you’rereally paying unless you look at your mortgage statement.

Here are some things you can learn from your mortgage statement:

1. How Much of Your Payment Goes Toward Interest

You might be surprised at how much of your payment is going toward interest, especially at the beginning of your loan. A look at your mortgage statement can help you see h...