Finance Throttle

The Worst Financial Advice

Post author:Hyder A.
Post published:April 7, 2024

The worst thing you can do is to blindly follow financial advice without doing your own research. I am not a financial advisor, but I can share some common mistakes in personal finance. Investing Without Research: Blindly investing in stocks or other financial instruments without understanding them or conducting thorough research can be risky. High-Risk Strategies: Pursuing high-risk investment strategies without considering one's risk tolerance or financial goals can lead to significant losses. Ignoring Emergency Fund: Some people suggest skipping…

Door Dash Deactivation: 2024 Lateness Violations Explained

Post author:Hyder A.
Post published:February 2, 2024

Being a punctual delivery driver is crucial for providing excellent service and maintaining a good reputation. Door Dash knows this is a major problem with its service. To combat this, Door Dash recently updated their Service Provider Platform Access Policy with LATE PENALTIES. To summarize, if you are consistently arriving to the place of business or the customer's home after the expected arrival time, you will be deactivated. HOW IS DOOR DASH TRACKING THIS? Door Dash is using Google Maps…

NEW FOR 2024 – ROLLOVER 529 INTO ROTH IRA

Post author:Hyder A.
Post published:January 19, 2024

For those who do not know, a 529 account is a state offered Education Savings Investment Account that allows you to save for the costs of higher eduction. This is a triple-tax advantaged account. Your contributions are state-tax deductible, earnings grow tax-free, and your distributions are tax-free ONLY if you use the money for educational expenses ranging from tuition costs to books to your dorm room rent. Your A 529 account can be for your self, your children, or another…

Best Financial New Year’s Resolutions of 2024

Post author:Hyder A.
Post published:December 27, 2023

The New Year's is a time when people define their resolutions going forward. Many of you will have New Year's resolutions that focus on getting new material things, going after your dreams, confessing your love, or growing your careers. I believe it is important to invest $20 in a Vision Board. A vision board is just your basic cork board where you can pin down your goals in picture or word format. This Vision board should be hung up somewhere…

Mint is Shutting Down This Month! Here are the Alternatives.

Post author:Hyder A.
Post published:December 18, 2023

Intuit's popular personal finance app Mint is shutting down by the end of 2023. One of the few free budgeting apps available, Intuit is transitioning Mint users to Credit Karma where you can still track your credit score and net worth, but you can no longer create custom budgets. Let's talk alternatives! 1. Credit Karma As the parent company of Turbo Tax, Mint, Credit Karma, Mail Chimp, and Quickbooks, Intuit recognized that Mint and Credit Karma were similar enough to…

7 Financial Gift Ideas for Children

Post author:Hyder A.
Post published:December 15, 2023

Updated 12/17/2023 A few years ago, I was playing with my then 4 year old daughter. She had a toy cash register and was charging me an insane amount of money for a plastic cup cake. That moment gave me the idea to write this post. My wife and I spoke to her about the concept of money and why we have to work. She is still having trouble understanding the term "expensive". She probably gets that from my wife.…

Why Biden’s Restrictions on Gas Furnaces will Save you Money!

Post author:Hyder A.
Post published:December 11, 2023

In case you missed the announcement late September, the U.S. Department of Energy released new efficiency regulations for residential gas furnaces that will phase out any gas furnace whose efficiency is less than 95% AFUE, affecting about a third of U.S. homes. While most argue on the increased costs of purchasing and installing 95% + AFUE gas furnaces, the U.S. Department of Energy claims it will actually save consumers money while helping to slow down our global warming problem. This…

2024’s Big Changes to Contribution Limits

Post author:Hyder A.
Post published:December 1, 2023

There are some big changes coming in 2024. Due to inflation, the contribution limits and income limits for many investment accounts will see the highest increases they have ever received from year to year. Now is the time to take advantage of these limit increases because there is a good chance they will decrease as we catch up with inflation. If you have multiple investment accounts, track your contribution limits using our Contribution Limit Tracker Spreadsheet. Check out the recently…

The Upsides of Driving for DoorDash

Post author:Hyder A.
Post published:June 28, 2023

DoorDash is a popular on-demand food delivery service that can connect you with local restaurants. The company was founded in 2013 and is headquartered in San Francisco, California. DoorDash operates in thousands of cities across the United States, Canada, and Australia. You can use the DoorDash app or website to browse local restaurants, order food, and have it delivered to their doorstep by a DoorDash driver, also known as a "Dasher." As someone who had been a dasher for over…

35 Ways to Reduce your Utility Bills

Post author:Hyder A.
Post published:June 21, 2023

Electricity The cost of electricity is quickly rising. There was a period of time in 2022 where charging an electric car was more expensive than filling up a tank of gas. Here are ten ways you can reduce your electricity bill. Use energy-efficient appliances: Switch to energy-efficient appliances, such as refrigerators, washing machines, and air conditioners, which use less energy and can significantly reduce your energy bill. Upgrade your light bulbs: Replace your traditional incandescent light bulbs with LED light…