One of the often overlooked aspects of having a side income is the need to file income taxes. This is especially true if you’ve never had a side income. You may not even be sure that you need to file for a side income, but rest assured that you do. Virtually any income you earn is taxable This is easy enough if the side income is paid to you through a W2 where the employer reports your income to the... Read more
I’ve never been in a position to make substantial money, but now that I have a college degree and training in specialized fields, I’m set up for making some pretty good dough. And let me tell you, I’m gonna make it, and I’m gonna spend it. On anything I want. And why shouldn’t I? I deserve it at this point. I want to buy the things that I’ve always wanted to buy. There’s so much stuff I want. When you... Read more
The IRS announced on October 18th that an increase to traditional and Roth IRA contribution limits would take place for 2013. The new 2013 traditional and Roth IRA contribution limit will increase by $500, which means that you can save $5,500 in your IRA next year. If you’re age 50 or older, you can save an additional $1,000 totaling $6,500. You can find the IRS announcement here. 2013 Traditional and Roth IRA Contribution Limits 2013 IRA Contribution Limit: $5,500... Read more
Two college roommates graduated and each started on their career paths. One became a successful business owner and made a good income while the other was much less successful and could barely hold a job for more than a year at a time. The two of them hadn’t seen each other for twenty years and ended up crossing paths at a café, so they had lunch together. During their meal, the successful business owner shared how he had grown his... Read more
Would you rather have $100,000 today, or $100,000 ten years from now? This should be a no-brainer: why wait? Having the money now gives you more options. You can either: Spend it now, or Invest it now for the future What would happen if you invested it for the future? How much would you have? Here’s one possibility: If you took that $100,000 and invested it at a compounding interest rate of 8 percent (read this post to find out which investment can provide... Read more
Have you ever considered that there might be more than one interpretation of the tithe? I think there are at least three. I don’t claim any “expert” status on the topic of tithing, but here goes. And feel free to disagree! The tithe is a requirement. The Bible discusses the tithe in several places, and it is clear that it was a requirement in the Israel of the Old Testament. The most common source cited is in the book of... Read more
With the growth of the hybrid and electric car fleets have come tremendous improvements in fuel efficiency. Where once ever smaller and lighter gas powered cars seemed to be the only way to increase fuel efficiency, we’re now seeing the results of decades of experimentation and innovation with whole new methods of propulsion. Do you plan to take advantage of more fuel efficient cars? Why worry about fuel efficiency? It seems that every few years we get a wake up... Read more
In many Christian circles, debt is considered to be a sin, and there’s strong Biblical support for that position. But is it also possible that unless it’s taken to an extreme that debt isn’t quite a sin–maybe it’s just a temptation. Neither situation is good. A sin is a sin, and a temptation is something that has the potential to lead to sin. And even if a temptation isn’t an outright sin, it is something best avoided all the same.... Read more
With the cost of a four year college education rapidly moving beyond the range of affordability for many families, this is an excellent time to take a close look as some well-paying occupations that don’t require a degree. Fortunately, there are plenty of them—here are ten. Air traffic controller Military experience allows you to circumvent a college degree (an “air traffic management degree” from the Federal Aviation Administration is required otherwise). Median pay level: $108,040. Airline pilot The typical route... Read more
I’m always looking for ways to save money when I travel. Instead of cutting back on the small things or saving a few dollar by ordering off the dollar menu, I try to save in the big ticket items. Airfare is by far one of the biggest expenses you can incur during a trip, and there’s usually room to save when it comes to flying. So how can you save money on airline tickets? Here are a few strategies I’ve... Read more
Faith and Finance
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