Do you know your tax bracket? If you don’t, you should. By knowing what tax bracket you fall under will help you strategize your money savings. If you’re working and receiving a paycheck, you probably see all the taxes that are taken out such as federal tax, state tax, and social security. The chart below I took from Turbotax Intuit. Take a look at the taxable income brackets for 2020-2021 and see where you fall within. We all pay taxes and…
When I look back, nothing would prepare me for the life demands and financial commitments these demands have. Life gets more complicated and more expensive. Are you prepared for that? Are you financially ready for it? Throughout your career and your personal life, if you have goals and aspirations you’re probably not going to be in the same life status 10 years from now. You may be thinking about getting married, having children, buying a home, moving to a bigger…
When you hear financial independence, do you equate that to restrictive living, not able to spend on yourself, or enjoying certain things? Trying to reach financial independence doesn’t mean you can’t enjoy life and splurge a little sometimes. They keyword is “little” and “sometimes.” Depending on your financial goals and timeline you want to reach these goals will determine your lifestyle. If you have an aggressive timeline, you might not be splurging at all. But if your timeline is flexible…
If you look at your monthly expenses, you probably will see that housing is one of your highest expense. Imagine living rent free, mortgage free, or pay a very minimal amount. You could have so much in your pocket! Moving back home was the best move I made financially. After renting and living with roommates, I decided to move back into my parents who were graciously welcoming me back. Thank You Mom and Dad! With welcoming arms, little did I…