In a recent interview I explain the difference between a rainy day fund and an emergency fund. I also share 6 tips to help jump start your rainy day fund. A rainy day fund is designed to cover one-time events without blowing your monthly budget. For example, $500 set aside just in case the sump […]
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The following is an excerpt from an interview with Black Enterprise. In personal finance expert Lynnette Khalfani-Cox’s latest book, Perfect Credit: 7 Steps to a Great Credit Rating, she outlines the steps consumers need to take in order to get their credit in tip-top shape. I recently sat down with The Money Coach and got the
Money Q&A: How to Have Perfect Credit Read More »
Q: In your book Zero Debt you say we should NOT get a refund check. I live for that check to help with tuition, home repairs, etc. I am a single parent of one, making about $100,000. What should I be changing my W-4 to so that I don’t have to owe the IRS? I
How Can I Increase My Take Home Pay By Adjusting My W-4 Withholding Read More »
Q: Is It Smart To Buy A Car With Cash? A: Yes, it’s very wise to buy a car with cash. That’s the preferred way to get a car, in my opinion. You should also be able to get a better deal from a car company if you pay in cash – as opposed to
Is It Smart To Buy A Car With Cash? Read More »
One of the quickest ways to eliminate your student loans is to pursue a career that will pay off your student loans for you. Loan forgiveness programs are typically extended to those who enter a career in military service, volunteer work, teaching, the legal and medical fields, and several other service-oriented professions. If you are
Where Can I Get a List of Companies that Offer Student Loan Forgiveness? Read More »
If you got behind on your auto loan or mortgage payments and the bank or lender repossessed your vehicle, the event will be reported to the major credit bureaus and negatively impact your credit score. Repossession shows up as a “default” status on your credit report and will lower your credit score. If your car
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When you take out a car loan, you are agreeing to make all monthly payments on time through the terms listed on your contract. If you end up struggling to make your monthly payment and miss several payments, you could end up having your vehicle repossessed. Not only will you lose your car, truck or
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Scores of individuals and families in America are being forced out of homes they can’t afford. If you’re one of these unlucky individuals, you’ll likely need to find a rental after your foreclosure. And that means finding a landlord who won’t put too much weight on the fact that your former home was foreclosed. Remember
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You probably already know that it’s in your best interest not to ignore phone calls and correspondence from debt collectors, but what do you do when a bill collector continues to ignore you? If you’ve been trying to negotiate a debt or want to be considered for a new payment plan, you’ll need to make sure
What to Do When Bill Collectors Won’t Negotiate With You Read More »
As a Money Coach and a proponent of financial education, I’m always on the lookout for ways to inspire people to manage their finances well. One way to do that, I believe, is to share our personal stories of triumph over economic adversity. It’s encouraging for those who are struggling financially to realize that they
A Single Mother’s Ideas On How to Turn Spending into Saving Read More »
Want to know how to become a millionaire? Learn 5 common pitfalls that sabotage wealth-building—and how to avoid them with smart, actionable tips.
Don’t Let These Things Stop You From Becoming A Millionaire Read More »
You can probably rattle off what your basic necessities are: they’re expenses like housing payments, food, transportation costs, and so forth. You may need to think a little longer, however, about the things that are important to you. For instance, let’s say education is important to you. Then you might choose to spend a portion
Creating a Millionaire in Training Budget Read More »
If you asked most financial planners and advisors about what goes into a budget, chances are they would tell you that a budget is broken down into certain categories. Some advisors suggest allocating everything into two camps: necessities and luxuries. Other advisors tell you to break your expenses down into fixed costs and variable costs.
Why Most Budgets Don’t Work Read More »
After you write out your goals, I urge you to share them with your spouse, or significant other, and have the person do the same thing. You may be surprised to see what some of your partner’s goals are. It’s helpful to do this because then you both have an idea about where each person
The Couple That Sets Financial Goals Together Stay Together Read More »
If one of your personal or financial goals is to get out of debt this year – or at least eliminate your debt as soon as possible – now is a great time to get started. Becoming debt-free takes work. But it doesn’t have to be an overwhelming chore. Simply following proven strategies below to
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