The Dangers of Paying Off Credit Cards With Home Equity

When people accumulate a little too much credit card debt, there’s always a strong temptation to work out some sort of debt consolidation that will make the plastic go away in one fell swoop. On the surface this can seem like an excellent idea. But debt consolidation is really about converting debt from one type […]

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Health Care Tax Forms May Contain Error: What to Do

In order to claim the new health insurance premium tax credit on your tax return you need form 1095-A from the health insurance marketplace. Last week the Department of Treasury announced that 800,000 (about 20%) of the 1095-A forms sent were wrong. Corrected forms will be sent this week. The errors impacted tax returns in […]

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Net Worth Update March 2015 – Karl the Real Estate Agent (+14.31% q/q)

Welcome to the Million Dollar Journey March 2015 Net Worth Update – Team MDJ edition. A select group of readers were selected to be part of Team MDJ which was conceived after the million dollar net worth milestone was achieved in June 2014. Karl the Real Estate Agent was selected as a team member and will post […]

New Target REDperks Reward Program

It’s Free Money Friday! Target is rolling out their new Target REDperks program. It’s still in beta and only available in some markets, but if you get accepted it’s worth some free rewards. How to Sign Up for Target REDperks Enter your name and zip code at Target REDperks. If you are in one of […]

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This Month’s Most Popular Finance Tips: February

This month our most popular finance tips and discussion topics were how to find the best place to sell your stuff for cash, how to get a free $10 Amazon gift card, improve your credit score, avoid money mistakes, get $30 to pay your cell phone bill and all about the Kiddie Tax. If you […]

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How to Calculate Self Employment Tax

Did you recently start your own business and need to learn how to calculate your self employment tax to file your tax return? If you are an individual who is self employed, you have many advantages over people who are employed by companies. Of course, you get to set your own hours and rates, which […]

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6 Signs You Might Lose Your Job

One of the unfortunate realities of today’s workplace is that we’re usually not given advanced warning about an upcoming job loss. Many employers would have us tool along thinking everything is fine, right up until the day we’re asked to leave. But even if there is no formal notification that your job is in jeopardy, […]

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How to File Taxes While in Prison

Prisoners who have been in the system for longer than a year typically do not make much income. In fact, they may not even make enough to be required to file taxes. If you’ve thought about filing a tax return in order to take advantage of your low prison wages and the Earned Income Tax […]

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What Does an Annual $200,000 in Retirement Income Look Like? (2015 Version)

Last year, I wrote What Does an Annual $200,000 in Retirement Income Look Like which described our projected (you guessed it) retirement income. As you get closer to retirement, you get a better understanding of where you’ll be. I like to think of it as being on a basketball court. You have a better chance […]

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Don’t Fall For These Marketing Tricks That Make You Spend More Money

How often have you gone to the mall not intending to buy anything, yet you walk out with bags of stuff? If you are like most others, this has happened to you more than a few times. The question is why does this happen? The simple answer is that marketers get us to spend. They […]

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The Dogs of the TSX 2015

One dividend strategy that is popular among investors is the Dogs of the Dow. In this strategy, investors buy the highest yielding dividend stocks on the Dow Jones Industrial average. What is the Dow Jones Industrial Average (DJIA)? It’s a price-weighted U.S index containing 30 stocks from the New York Stock Exchange (NYSE) and the […]

Saving Money with Ground Turkey and Beef

Over the past year, I’ve seen the price of beef skyrocket at my grocery store. A couple of years ago, I’d be able to get 93% lean ground beef for well less than $3 a pound at the local military commissary. It was the best price in town. Lately, I’ve seen prices of over $4 […]

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Lending Club $25 Sign Up Bonus

Lending Club just announced a new sign up bonus. We haven’t seen one in a long time, so I was excited when I saw the email! Lending Club is offering a $25 sign up bonus for new lenders. Happy Free Money Friday! How to Get Your $25 Sign up Bonus Sign up as a lender […]

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Clever Ways to Improve Your Personal Credit Score

Your credit score has a huge impact on your financial status. Lenders use these scores to determine if you qualify for a loan, as well as the dollar amount of the loan and the rate of interest. Improving your credit score can lower your cost of borrowing by hundreds or thousands of dollars over the […]

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How to Teach Kids the Value of a Dollar?

Teaching my kids the value of a dollar is something that’s important to me and I’m always trying to find ways to help them understand that process of earning & spending money isn’t as simple as swiping your credit card. There aren’t as many teaching moments as there were in my childhood because money is […]

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Take Advantage of Retirement Catch-Up Contributions

If you’re over 50 and diligent about retirement savings, you may be maxing out both your 401k and traditional or Roth IRA. But to really supercharge your savings and make sure you are extra-prepared for retirement, you should also take advantage of catch up contributions. Catch-up contributions are special provisions that allow you to contribute […]

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Looking at an AirBNB Property? Here’s What You Need to Know.

On Monday I mentioned how I was bitten by the real estate bug again. Essentially, I saw a property that looks like a tremendous bargain. When touring it, the condition made me think it was slightly less of a bargain, but still great. How great of a bargain? A few years ago it was listed […]

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What is the Kiddie Tax?

We recently discussed Do Your Kids Need to File Taxes? I mentioned that if interest, dividends and other investment income are more than $2,000 in 2014, you’re going to get hit with the kiddie tax. What is the kiddie tax and who does the kiddie tax apply to? Let’s take a closer look. Background Children […]

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5 Quick Tips for Decorating on a Budget

Decorating and furnishing a home or apartment doesn’t have to cost you as much as you think. If you try to use what you have, be creative and flexible, and be smart and budget conscious, you can end up loving your space without spending a ton of money. Here are five quick tips for decorating […]

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Bitten By The Real Estate Bug Again…

It’s been a solid 18 months since we found our investment property, which was part of the our plan to expand the real estate empire. And now I’ve been bitten again… Unlike previous real estate purchases we didn’t set out looking for something. Instead something jumped in my lap. There’s a property that’s down the […]

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Net Worth Update February 2015 – Sean Cooper (+6.7%)

Welcome to the Million Dollar Journey February 2015 Net Worth Update – Team MDJ edition. A select group of readers were selected to be part of Team MDJ which was conceived after the million dollar net worth milestone was achieved in June 2014. Sean Cooper was selected as a team member and will post net […]

Here’s a Cheap Last Minute Valentine’s Plan

So tomorrow is Valentine’s Day. Are you ready? I had awesome luck yesterday and I thought maybe sharing the story could spur some action. I happen to have two stores near me that had everything I needed: Aldi and a Dollar store (not sure which one). Aldi has a half-dozen roses for $3.99. They have […]

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Chase Ink Plus $600+ Sign Up Bonus

Chase just increased the sign up bonus on their Chase Ink Plus Business card to 60,000 points. If you missed the 70,000 point refer a friend bonus last fall, here’s your chance to pick it up for more than the standard 50,000 points. It’s Free Money Friday! How to Get Your $600+ Sign Up Bonus […]

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American Express $10 Cell Phone Credits x 3

American Express Offers is giving out statement credits of $10 when you pay your cell phone bill. The offer is targeted (like all American Express Offers), so you’ll have to see if you qualify. If you do, it’s an easy way to save money on your cell phone bill! How to Get Your Statement Credit […]

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Business Transition Planning, Save Money on Valentine’s Day, Rebalancing with Foreign Currencies, Radiant Heat Experiment and more!

It looks like Capital One has replaced their popular travel card with a watered down version (same points system and fee, but no more $100 annual bonus). For those of you interested, here is an updated list of the top free credit cards available to Canadians. There comes a time for most of us to plan for […]

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