By Joy Taylor From Kiplinger’s Personal Finance Question: Is forgiven student debt taxable? Answer: No, at least through 2025. As a general rule, debt cancelation income is taxable. But a 2021 law provides that most student loans forgiven from 2021 through 2025 are tax-free. President Biden’s plan to forgive up to $10,000 in student loans…
The Pain and Pleasure Principle
I don’t care much for pain. In fact, I’ll do almost anything to avoid it. I also know that pain can be a good thing. The human nervous system triggers a sensation of pain to stop us from doing something that might cause a severe injury and to let us know that something may be…
Retirement: How to Manage Required Minimum Distributions While Still Working
September 28, 2022
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By Lisa Gerstner From Kiplinger’s Personal Finance Many workers aren’t ready to retire at the traditional retirement age of 65 and instead continue working into their 70s. While they can postpone retirement, they can’t entirely delay taking Required Minimum Distributions (RMDs) from tax-deferred retirement accounts. If you’re working into your 70s, here’s what you need…
75 Fast and Easy Ways to Make Extra Money
Would you like to make money, but don’t know where to begin? You’re not alone. Aside from their regular jobs, 16 percent of adults performed side gigs to earn extra income. Among them, 64 percent spent fewer than 20 hours doing those jobs during that period, according to the Federal Reserve Board’s Economic Well-Being of U.S….
How to Grocery Shop During a Recession
By Nicole Dieker From Bankrate.com Groceries are more expensive than ever. In July 2022, the U.S. Bureau of Labor Statistics released data indicating that the cost of groceries had increased by 12.2 percent over the last twelve months. If you’re trying to inflation-proof your finances, you could be experiencing a lot of grocery-related financial stress…
Personal Finance for Newbies
Managing your personal finances involves managing both short- and long-term aspects of your finances. It also refers to an industry that offers products and services to help individuals manage their finances and investments. But, if you’re new to personal finance, all that may not mean much to you. So, let’s explain why personal finance is…
Family Finances: Use Tax Breaks to Lower College Costs
September 27, 2022
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By Sandra Block From Kiplinger’s Personal Finance It’s often said that buying a house is the largest investment most of us will ever make. But if you have a couple of children, the cost of sending them to a four-year college could exceed even that big-ticket item. Three kids—or at least one with Ivy League…
Kids and Money: Money Tips for Teens
By Steve Rosen From Tribune Content Agency Gabe Ruschman is a 16-year-old go-getter. An honor roll student from the Chicago suburb of Skokie, he plays safety on his high school football team, carves out time to play the trumpet, and has worked as a seasonal employee at Home Depot over the summer. The teen is…
How to Manage Debt in Retirement
If not carefully managed, debt can shackle a retiree, but if carefully managed, debt can also be a powerful financial tool. You can make it work in your favor throughout retirement. However, if you want to make the most of debt advantages, and minimize debt advantages, you need to understand exactly how debt works, and…
Ways to Make Money on Amazon
September 26, 2022
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Perhaps you have been thinking about earning some extra income, or maybe turning a hobby into a full-time gig; whatever you want, Amazon could be the route to take. In 2021, Amazon’s sales revenue was almost $470 billion. And you can be part of that. Amazon has programs that let anyone make money. From handmade…
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