This page consists of blog posts that discuss the topics of saving money, budgeting, earning more interest, and paying less interest. You will find information on banking, borrowing, budgeting, and creative ideas on saving.
Whether it's better to invest or save depends on your financial goals, time horizon, risk tolerance, and current financial situation. Here are a few things to consider: Financial goals: If your financial goal is to save money for a short-term expense, such as a down payment on a house or a vacation, then a savings account may be a better option than investing. However, if your goal is to save for retirement or another long-term goal, investing may be a…
Updated 1/29/2023 Can you believe TurboTax was created back in 1984? It took TurboTax years to get the IRS to allow them to create an online tax filing service. As per the agreement with the IRS, TurboTax allows individuals making less than $66,000 a year to use a free version of TurboTax. All you need to get started with TurboTax is a W2 and an account (If you use Mint, its the same Log-in and you get a discount). TurboTax…
Block is one of my favorite fin-tech companies. Block is the parent company of Square, Cash App, and more. Cash App is one of the top finance apps in the App Store and Google Play Store. The service is similar to PayPal and Venmo. It allows you to send, spend, or invest your money. You can buy stocks or Bitcoin. You can even bank with Cash App by setting up a direct deposit and getting a free cash back debit…
Crypto is a volatile asset that can be difficult to understand. With the IRS and SEC doubling down on crypto, you are now required to enter your social security number when joining a crypto brokerage like Coinbase. The IRS knows how much money you are making in the crypto space, therefore it is absolutely important to file your crypto capital gains and losses. If you have traded more than $20,000 within the tax year, you will probably receive a 1099-K…
When it comes to tracking the health of your personal finance, the net worth statement is the best way to measure your financial situation. This easy calculation can help you determine if you are on track with your financial goals, or if you are in trouble and need to tackle your debt. Download the Finance Throttle Net Worth Tracker or consider spending the time to create your own. WHAT IS A GOOD NET WORTH? Every person is different. Your net…
In 2022, I was hard at work with my cash-back game. If you don't know, there are many credit card strategies available to you. You can focus on cash-back cards like myself to maximize your cash-back rewards on everyday expenses. You can focus on travel reward credit cards to travel for free, get airport lounge access, or upgraded airplane seats. If you are feeling lucky, you can go for crypto or investment credit cards that give you cash-back in the…
With both the current state of the economy and the holiday season quickly approaching, it's important to save and budget. Just a short few months ago, we were earning 0.01 to 0.5% APY on our savings accounts. It made much more sense to invest that money rather than save. With the market continuing to fall and rates continuing to rise, you can have more peace of mind that your money is safe and steadily growing. Today's savings rates are back…
If you are new to the blog, Velocity Banking is the strategy I am using to pay off my home in 7 years or less. I started off with a new house and a mortgage of $282,000 due January 1st, 2019. Using Velocity Banking, I paid off over $115,000 and saved over $60,000 in interest payments in just 3 years. Now I owe $165,000. You can follow my velocity banking journey on this page. Increasing Costs With the rising costs…
I recently found out I need to lose weight fast to avoid a certain health condition. In my experience, health-themed restaurants are expensive compared to fast food restaurants, organic fruits and veggies are more expensive than non-organic, healthy nuts are very expensive, and multi-grain or rye breads are more expensive than white breads. Is it possible to eat healthy without breaking the bank? Subscribe below to follow my diet progress and food costs. Subscribe to our newsletter! Initial State: My…
Normally, I would post one to two times a week on Finance Throttle. However my wife and I recently discovered that my wife's identify was stolen by someone who made over $1700 in Xbox related purchases back in 2021. Let's just say it has been a busy and stressful two weeks where I couldn't find the time to blog. Here is what happened. We were contacted by a Debt Collector We received mail from a debt collector saying we owed…
