Feeding Your Children When Money Is Tight: A Practical Survival Guide
Feeding your children when money is tight is one of the most painful and stressful challenges a parent can face. With rising food prices and economic strain, millions of American families are struggling to put meals on the table. If you’re in this situation, know that you are not alone—and there are concrete steps you […]
My Husband Defaulted on a Student Loan. What Should We Do?
A reader of AskTheMoneyCoach.com wanted to know how to deal with a defaulted student loan. Her question and an answer are provided below. Many thanks to Marlene Ware, of the National Foundation for Debt Management for her expertise and providing the answer that follows. Question: My husband’s Sallie Mae loan went into default and was […]
What Should I Do If My Canadian SIN Card Has Been Stolen
Your Social Insurance Number (SIN) is required for work and to receive any type of government benefits in Canada. You will be assigned a unique number if you are a Canadian citizen, a temporary resident, or a newcomer to Canada. It works in a similar way as the Social Security Number (SSN) issued to eligible […]
What is the American Recovery and Reinvestment Act?
After the economy took a nosedive from 2007 to 2009, President Barack Obama signed the American Recovery and Reinvestment Act (ARRA) into law. This bill was designed to give the economy a boost by reducing federal taxes, increasing unemployment benefits and also increasing spending in certain areas. Many people were directly affected by this bill […]
Dealing With Mistakes On Your Federal Tax Return
Whether you forgot to take all of the deductions you were eligible to take, or just reported a few wrong figures to your tax return, you do have some options for amending your return. In fact, you have three years from the original filing deadline to send in an amended return. You don’t need to […]
10 Tips to Select an Income Tax Preparer
Before this year’s tax-filing deadline in April, you may consider hiring someone to fill out your taxes. Lots of people don’t want to bother with the complicated IRS tax forms or worry about whether they’re interpreting tax laws correctly.
What to Do If You Can’t Afford to Leave Your Spouse
When you and your spouse both know that your marriage just isn’t going to work and you want a divorce, you might end up staying married because neither of you can really afford to leave. Many people who want to file for divorce realize that they simply can’t afford to end their marriage when they […]
What is a Split Refund?
If you’re expecting a tax refund this year, don’t overlook the benefits of requesting a split refund. The IRS offers this option for taxpayers who want to have their tax refund deposited into up to three different accounts. There are a number of reasons why you might want to do this, and making this request […]
What to Do If You Need Child Support
If you have recently ended a marriage or a relationship and had children at some point during the relationship, you may be eligible to receive child support from the other parent. Child support laws exists to ensure that the child or children are appropriately cared for once the parents’ relationship has terminated. Child support is […]
Is There an Age Limit for Claiming a Child as a Dependent?
Understanding the age limit for claiming a child as a dependent is crucial for maximizing your tax benefits. The IRS allows you to reduce your taxable income by claiming a child, but several specific rules—including age, relationship, residency, and financial support—must be met for your child to qualify. Why Claiming a Child as a Dependent […]
Can’t Afford College for Your Child? Here’s What to Do Next
If you’re feeling the financial pressure of your child heading off to college—and you don’t have tens of thousands saved—you’re not alone. With tuition, room, and board costs climbing steadily, many parents wonder: What can I do if I can’t afford college for my child? According to recent College Board data, the average annual tuition […]
Jumpstart Your Finances in 30 Days
30 days. That’s roughly the amount of time the average American sticks to his or her New Year’s resolution. If we’re honest about our financial New Year’s resolutions – like saving money, better organizing our finances, or laying off the credit cards – many of us will admit that we might not even make 30 […]
The Pros and Cons of Peer-to-Peer Loans for Entrepreneurs and Consumers
If you’re thinking about getting a peer‑to‑peer loan, it’s probably a good idea for those of you who have high interest rate credit card debt. But peer‑to‑peer loans offer far more benefits than just that. For entrepreneurs who need financing, P2P loans are also a ready source of cash. And most small business owners know […]
5 Financial Mistakes Everyone Should Have Learned
Keeping your finances in order and your budget on track isn’t always easy, and 2011 may not have been your best year financially. Whether you failed to meet your savings target or you faced a serious financial downfall this year, you can learn from your mistakes and set yourself up for a financial recovery plan […]
Can’t Afford Car Repair? 7 Smart Fixes—and Do Mechanics Do Payment Plans?
Facing the reality that you can’t afford car repair can be both stressful and frustrating. With a recent AAA survey revealing that 25% of Americans delay vehicle maintenance due to financial constraints—and many unable to handle even a $1,000 emergency—you’re not alone. The good news is that there are practical, creative solutions that can help […]