The Financial Blog of
Lynnette Khalfani-Cox,
The Money Coach®
Articles
Six Reasons Not Hiring a Part-Time Bookkeeper is a Big Mistake
“Do I really need…X” is something that many of us have asked as entrepreneurs. If you are a solopreneur, small... read more →
January 22, 2020
Billionaire Robert F. Smith a Texan of the Year Finalist
Just in time for the Martin Luther King, Jr. holiday, Black billionaire Robert F. Smith is being honored for his... read more →
January 20, 2020
How Small Businesses Can Outsource Bookkeeping Services
What concepts come to mind when you think of the word “outsourcing?” Is it cost-effectiveness, work-life balance, or discomfort? Many... read more →
January 15, 2020
Are You a Woman Business Owner? Here are 6 Business Tips for Success
Forty percent of U.S. businesses are female-owned, and they generate $1.8 trillion a year in revenue. While these numbers are... read more →
January 8, 2020
Seven Online Bookkeeping Tools to Help You Prepare Taxes the Easy Way
You are not blamed if you are an entrepreneur who is not excited about preparing taxes. From the pressure to... read more →
January 6, 2020
The Money Coach’s Strategy to Build Wealth
Spending money wisely, saving cash and investing can all help build wealth – as well as bring you greater personal... read more →
January 2, 2020
5 Strategies for Using Rewards Credit Cards When Holiday Shopping
While the goal is to avoid racking up debt, you can use rewards credit cards to your advantage during the... read more →
December 6, 2019
Six Holiday Money Hacks That Can Help You Save This Season
Holiday gifts are not the only expense you have to prepare for this season. There are many ways the money... read more →
December 3, 2019
Rich People’s Habits: 6 Ways to Save Like a Millionaire
Did you know that more than three-quarters of today’s millionaires are self-made and started as middle class or lower? Also,... read more →
November 15, 2019
Five Military Finance Mistakes to Avoid
Your concerns as a veteran are different from a civilian. While money matters may be on your mind, handling the... read more →
November 11, 2019
Six Simple Money Management Apps to Up Level Your Finances
Between going to work full-time, handling household chores, and raising children, managing your finances may seem impossible. As a result,... read more →
November 8, 2019
Recession 2020: 5 Ways to Recession Proof Your Finances
If you’re like most people, just hearing the word "recession" is enough to spur feelings of anxiety, dread, and fear.... read more →
November 5, 2019
Five Lessons to Learn from The Millionaire Next Door
There are more than 10.2 million millionaire households in the United States. This number is roughly equal to the population... read more →
November 1, 2019
Five Scary American Financial Statistics
What's more frightening than zombies, vampires, and ghosts? The financial status of many Americans. Unfortunately, many face the reality of... read more →
October 28, 2019
Retirement Planning 101: Five Secrets to Retiring Rich
When you think of walking out of the office for the last time—or dialing down your entrepreneurial dealings—how do... read more →
October 25, 2019
How to Prepare for Retirement in Your 20s, 30s, 40s, 50s and Beyond
Whether you're 25 or 55, you've likely come across countless articles talking about how to prepare for retirement. While the... read more →
October 21, 2019
Saving and Investing – One Won’t Make You Rich
Investment advisor and entrepreneur, Robert G. Allen once said, " How many millionaires do you know who have become wealthy... read more →
October 18, 2019
The Best Way to Check Your Credit Score Using These 4 Apps
Did you know that on a $21,788 auto loan, if you have an excellent credit score (740 – 749),... read more →
October 15, 2019
An Important Financial Update …
Just a last-minute reminder that TOMORROW is the start of the stock market trading course I told you about in... read more →
October 13, 2019
Is Trading Stocks the Side Hustle You’re Missing Out On?
Happy October! Did you know that October is National Financial Planning Month? That means it’s a great time to think... read more →
October 9, 2019
The Pros and Cons of Cosigning a Loan for Family & Friends
Blending family, friends, and finances can be risky. A variety of emotions are attached to the decision to cosign a... read more →
October 7, 2019
3 Personal Finance Professionals You Need on Your Dream Team
You likely have many teams in your life. You may have a dentist, doctor, and maybe even a therapist that... read more →
September 30, 2019
Skip the Luxury Car and Other Vehicle Tax Break Tips
When it comes to purchasing your next vehicle, you could be leaving money on the table. The truth is that... read more →
September 27, 2019
Finish Strong – 5 Tips to Prepare Your Personal Finances for 2020
Can you believe 2020 is less than four months away? Do you know the state of your personal finances? If... read more →
September 23, 2019
3 Home Buying Hacks to Buy a House in 2020
For many people, buying a home is a milestone that signifies stability and achievement. Unfortunately, a variety of factors have... read more →
September 20, 2019
Victim of Identity Theft? Here’s What to Do
In 2017, 16.7 million people were victims of identity theft, suffering a record $16.8 billion in losses. Today, many of our... read more →
September 19, 2019
Five Reasons Why Ridesharing Beats Car Ownership
Second, only to China, The United States of America is one of the primary “car capitals of the world.” In... read more →
May 28, 2019
Medicare Advantage Plans vs. Medicare Supplement Plans. Which is Best for Your Needs and Budget?
When it comes to Medicare, many of us are unfamiliar with what the Medicare program covers and costs until it... read more →
May 22, 2019
Laws that Protect the Elderly Against Senior Financial Scams
While everyone can be a victim of financial scams, one group is being targeted at astronomical rates. According to Bloomberg,... read more →
May 14, 2019
Five Money Apps That Will Help You Start Investing
According to data revealed by Forbes, 42 percent of millennials are investing more conservatively than their Generation X (38 percent)... read more →
May 7, 2019
Eight Financial Podcasts You Should be Listening To
Are you a fan of podcasts? If you are, you must know that these digital shows can pack much information... read more →
April 30, 2019
Your Invitation to Currency Conversations
Come Meet The Money Coach! I want to extend a warm invitation to come meet me in person – along... read more →
April 25, 2019
The Best Low-Risk Investments of 2019
Since the beginning of October 2018 to mid-January 2019, the S&P 500 Index has been down ten percent, rebounding back... read more →
April 23, 2019
Seven Must-Have Personal Finance Apps for Everyone
You may think that personal finance apps used on smartphones are just for millennials and members of Generation Z. You... read more →
April 16, 2019
Five Ways to Avoid Running out of Money During Retirement
The goal of retirement is to have enough money to live out the rest of your days comfortably. However, what... read more →
March 27, 2019
Tax Pros and Cons for Uber and Lyft Drivers
While being a driver for Uber or Lyft is a great way to earn extra income, it can also come... read more →
March 13, 2019
Is There an Optimal Strategy to Repaying Student Loan Debt?
College can be an exciting time, but paying off student loans isn’t nearly as fun. Unless you pay it... read more →
February 27, 2019
5 Ways Procrastination Can Lead to Financial Struggle
Have you ever waited until the wee hours of the morning to study for an exam at the very last... read more →
February 22, 2019
Debt Snowball Vs. Debt Avalanche: Which is the Best Approach to Pay off Debt?
Anyone who’s ever been in debt knows one thing: it doesn’t make life easy. In fact, debt can have many... read more →
January 25, 2019
The True Cost of Having Clutter in Your Life
Have you ever walked into your living room, bedroom, or basement and felt as if the mountains of clutter would... read more →
January 17, 2019
You’re Not a Kardashian, So Don’t Spend Like One This Holiday Season
Chances are the Kardashians won’t be cutting back on spending this holiday season. From a 1956 Ford Thunderbird to a... read more →
December 20, 2018
Mismanaging Your Credit
Are you mismanaging your credit with your significant other or anyone else? Have you let the heartstrings get pulled again?... read more →
October 3, 2018
DTI or Debt-to-Income Ratio Explained
If you’re in the market for a loan, chances are that lenders are going to assess something called your “DTI”... read more →
September 21, 2018
7 Reasons to Save More Money or Boost Your Emergency Fund
It’s so easy to obtain a credit card and use it to pay for purchases that often people wonder why... read more →
September 18, 2018
A Message for Black Women’s Equal Pay Day
For Black Womens Equal Pay Day: a lesson to my sisters in knowing your worth and a call to demand more: Sign-up... read more →
August 13, 2018
Beware of Fake IRS Collection Scam
Have you ever received a phone call from the IRS – or from someone claiming to be from the IRS... read more →
July 12, 2018
What a Trade War With China Means For Your Money
It’s official: the U.S. and China are formally locked in a high-profile trade war. On Friday July 6, 2018, the... read more →
July 6, 2018
Splitting Up and Not Married – Whose Money is it Anyway?
Q: My boyfriend and I been together for over 15 years. We have joint savings and checking accounts. We planned... read more →
May 1, 2018
How to Negotiate a Lower Interest Rate on Your Credit Card
Q: Is there a way to lower my credit card interest rate so I can pay my credit card's balance... read more →
April 16, 2018
Is a HELOC Right for You? Pros, Cons, and Considerations to Make
A home equity line of credit, or HELOC, is a popular way to finance everything from home remodeling or repair... read more →
April 6, 2018
How to Report Rent Payments to the Credit Bureaus
Q: I carried a mortgage on a property I rented out and I would like to report rent payments to... read more →
February 28, 2018
A New Financial Tool, Cinch, Can Improve Your Finances
A new financial software tool, called Cinch, can help you not only save money, but also plan your financial future.... read more →
January 4, 2018
Keeping Your Financial New Year’s Resolutions
Happy New Year, We hope you had a great holiday break and are ready to take your finances to the... read more →
January 3, 2018
New Year’s Resolution: Easy Ways to Save More Money in 2018
Are you making a financial New Year’s resolution in 2018? If not, you should – and saving more money should... read more →
January 1, 2018
Should You Invest in Bitcoin?
Investing in bitcoin isn’t a decision you should make lightly or without being properly informed about all the potential risks... read more →
December 23, 2017
What Exactly is Bitcoin? 7 Facts About Bitcoin
Bitcoin became all the rage among many investors in 2017 – and even people who don’t regularly invest have gotten... read more →
December 22, 2017
4 Smart Ways To Shop Smart, Entertain And Decorate On A Holiday Budget
According to the National Retail Federation, Americans are expected to spend $680 billion during the holidays, and the average family... read more →
December 11, 2017
The Most Maxed-Out Places in America
Credit card balances in the U.S. now total roughly $1 trillion, the most since 2009, according to recent Federal Reserve... read more →
December 4, 2017
Holiday Shopping: 5 Apps to Save Cash, Make Money & Protect Your Credit
Americans engaged in record levels of online holiday shopping during both Black Friday and Thanksgiving online sales in the United... read more →
November 27, 2017
5 Horrible Things About the GOP Tax Plan
President Donald Trump and the Republican Party are trying to rush a massive tax “reform” plan through Congress with... read more →
November 20, 2017
Can I Qualify for a Mortgage After Bankruptcy?
Q: My husband and I are in our final year of bankruptcy this year. We did a chapter 13 in... read more →
November 7, 2017
How to Start a Conversation About Money with Your Children
Here's our newly updated series of books and ebooks to help start a conversation and talk to your young children... read more →
November 6, 2017
4 Thanksgiving Day Disasters to Avoid
Thanksgiving Day celebrations typically involve family, food and fun. But Thanksgiving can also bring a number of disasters that can... read more →
November 2, 2017
The FTC’s Crackdown on Student Loan Scammers
For nearly 40 million Americans, student loans are a big problem, with a staggering $1.4 trillion in outstanding balances (only... read more →
October 31, 2017
4 Frightening Financial Facts for Halloween
This Halloween, Americans are doling out a lot of money -- a record $9.1 billion on costumes, candy and decorations, according... read more →
October 30, 2017
How To Deal With Out of State Debt Collectors
Q: Hi, Can a debt collector that is based in and licensed in the state of Delaware, collect a debt from me in... read more →
October 17, 2017
5 Tips to Protect Your Paycheck from Wage Garnishment
Do you have a lot of unpaid debts? If so, your creditors may threaten your paycheck with wage garnishment.... read more →
October 16, 2017
4 Apps that Tap Into Your Credit Cards Hidden Benefits
You may not be aware of this great financial tip, but your credit card offers more than just a line... read more →
October 3, 2017
Holiday Tech: 5 Ways to Save Money on the New iPhone and Other Gadgets
Apple recently announced three new smart phones that are sure to be on lots of people’s holiday wish lists. But... read more →
September 27, 2017
Credit Freeze Explained and How to Protect Your Credit
After the Equifax data breach where thieves stole the Social Security numbers and personal info of 143 million Americans, many... read more →
September 17, 2017
How to Protect Your Credit After The Equifax Data Breach
Scores of Americans are worried about the latest huge cyber hack in the U.S., an Equifax data breach that could... read more →
September 12, 2017
The Equifax Hack: What Equifax Got Right and Wrong Amid Data Breach
The Equifax hack is one of the nation’s largest ever data breaches, affecting up to 143 million Americans or nearly... read more →
September 9, 2017
September is Emergency Preparedness Month: Here’s a 911 For Your Wallet
Hurricane Harvey was a big reminder that Americans need to be prepared for all kinds of emergencies – whether natural... read more →
September 1, 2017
The 411 on Home Warranties
Having a home warranty is a smart way to help deal with the inevitable home repair problems that all property... read more →
August 8, 2017
4 Summertime Risks to Your Credit Score
Just because summertime is here and you might be taking it easy, that doesn’t mean you should let your guard... read more →
August 4, 2017
Where To Find Quick Money For A Summer Vacation
Are you planning on taking a “staycation” this summer because you don’t have the money to go on a real... read more →
July 10, 2017
Hidden Costs of Owning a Home
Buying a home can provide an enormous sense of accomplishment, and homeownership is a pathway to building wealth too. ... read more →
June 27, 2017
Are You Ready for Homeownership?
Are you ready for homeownership? Buying a home will likely be one of the biggest investments of your life. So... read more →
June 12, 2017
4 Hidden College Costs Every Parent and Student Should Know
Like most parents of high school teenagers and college students, this is the time of year when my husband and... read more →
May 31, 2017
3 Lessons I Learned From Meeting Oprah
Ten years ago, I had the good fortune to be featured as an expert on The Oprah Winfrey Show and... read more →
April 6, 2017
Invitation to Money Coach University’s Open House
Lynnette Khalfani-Cox, The Money Coach, and publishing expert Earl Cox, co-founders of the financial advice site AskTheMoneyCoach.com, invite you to... read more →
February 15, 2017
The Pros and Cons of Paying Off Someone Else’s Debt
Managing your personal finances wisely is one of the hallmarks of a responsible and mature person. Unfortunately, not everyone is... read more →
February 13, 2017
Warning: IRS Partners With Debt Collection Companies
Starting in spring of 2017, the IRS plans to allow private debt collection agencies to retrieve outstanding tax debt from... read more →
January 17, 2017
5 Smart Ways to Give the Gift of Stock Investing This Holiday Season
With the holiday season approaching, everyone’s looking for a unique gift for our friends and family. After all, no one... read more →
December 14, 2016
A Rallying Cry for Future Entrepreneurs
Millions of Americans would like to start their own businesses. But a lot of would-be entrepreneurs worry about the loss... read more →
November 16, 2016
True Financial Freedom: What it Is, and Getting There
"Financial Freedom" is a term that gets tossed around a lot, but what does it mean exactly? I'll talk about... read more →
November 8, 2016
Post Halloween Money Tip: Swap Cash for Candy
Did your kids get way too much candy for Halloween? My youngest daughter, Alexis, did. (See my Facebook live video... read more →
November 2, 2016
The Crazy Ways Holiday Shopping is Ruining Thanksgiving
An urge to splurge is wreaking more and more havoc on traditional Thanksgiving festivities and meal-time spent around the family... read more →
October 31, 2016
Ready, Set, Bank: Helping Parents & Grandparents with Technology and Online Banking
Thanks to Capital One for sponsoring this post. Whenever I can’t do something on the technology front – anything from... read more →
October 18, 2016
Should I Invest In Penny Stocks With The Little Money That I Have?
A reader sent me the following question via Facebook wanting to know my opinion of investing in penny stocks. Here's... read more →
October 17, 2016
3 Ways College Visits Help With Admissions, College Selection and Finances
Every year, millions of students across America never get to go on college tours and college visits – and preview... read more →
October 10, 2016
FinCon: Epic Tales and Highlights from FinCon 2016
FinCon 2016 wrapped up with a bang in San Diego, with a record 1,250 attendees turning out for a jam-packed,... read more →
September 29, 2016
Getting Your Finances Right in a Second Marriage
Getting remarried offers an opportunity not only for a second chance at love and happiness, but also entering a... read more →
September 12, 2016
3 Websites to Save $1,000 or More Off Your Travel Costs
If you’re like me, you love to travel, but you also love to save a buck. Saving money isn’t always... read more →
August 22, 2016
College Scholarships for Adults
Q: I am 44 year old veteran who would like to attend college where are the grants, scholarships, etc for... read more →
July 19, 2016
4 Financial Signs You’re Not Ready for Marriage
Getting married to your significant other can be one of life’s most beautiful moments, where two people make a... read more →
June 30, 2016
Welcome from The Money Coach!
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