Smart Money Links 4U

Don’t trash your business idea out of fear that you can’t cover the startup costs. To get the ball rolling, perhaps you don’t need as much money as you thought – or any at all. Score, a free business resource association and a partner of the U.S. Small Business Administration, is tackling that fear head on in an upcoming webinar “7 Steps to Starting a Business on a Shoestring Budget.” The free hour-long online event kicks off at 1 p.m. Eastern time on Feb. 13. “There can definitely be challenges — a lack of funds and expertise, resistance from naysayers, personal doubts, and more,” Candice Stennett, Score’s vice president of marketing, told The Penny Hoarder. “This webinar will help folks meet and beat those challenges.” To reserve a spot, register using your name, email address and ZIP code on Score’s event page . Small business expert Steve Strauss is slated to host the event, and as its name suggests, he will break down his advice into seven key steps: Step 1: The Startup Sho

Dear J., You’re a smitten new grandma. So it’s not surprising that you want to give the world to your family’s sweet new addition. I’m a childless personal finance columnist. So it’s not surprising that I’m going to tell you that with credit card debt and not much money saved, you can’t afford to do that. But I’m also realistic. I know that babies have a way of making people forget their own needs and invest everything they have in the promise they see in those adorable apple cheeks. So I know the odds of you discarding this advice are high, but I’m going to give it anyway: Secure your own future before you invest in your granddaughter’s. Don’t do this for yourself. Think of this as an investment in her. When your savings are sparse, one small, unexpected expected expense can throw your life into disarray. Credit card debt only increases the risks. You’re also not preparing for the very big and expected expense that is your own retirement.  Who do you turn to in times of need? Fo

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners . When I was a kid, I was a big reader. Sorry — I meant to say “nerd.” I was a huge nerd and didn’t care about sports. Still, I watched the Green Bay Packers play every Sunday, because that’s what we did in my house. I just usually had a book open at the same time. Because of that ritual, the sound of a football game on TV is cathartic for me. I’d rather turn on the NFL Network than listen to a white noise app when I want to get work done. That’s why I’ll still tune into Super Bowl LIV. I enjoy the connection to the rest of the nation — while knocking out a blog post and making headway through a novel. If you’re in the same boat, use the day to make some extra money. Just make sure you take a break and tune in for the Halftime Show, so you know what everyone’s talking about on Facebook on Monday. While yo

In the fall of 2019, Ciprian “Chip” Adams, pulled his 2015 Toyota RAV4 over to the side of the road. Blue and red lights flashed behind. It was nighttime. His headlight was out. Instead of approaching the driver’s side window, an officer circled Adams’ silver SUV and inspected the decals along all four doors. An ad featuring a stern but approachable local lawyer smiled back. “How about I give you a warning this time,” the officer told Adams.  “I’ve never [gotten] pulled over without getting a ticket,” Adams said with a laugh. “I’m assuming the cop thought I was either involved [with] or working for the lawyer.” But he wasn’t. Adams, a 42-year-old Florida resident, works for himself. And that car wrap ad is one of his many moneymakers. A Gaggle of Gigs Emigrating from Romania in the ‘90s, the classically trained violinist had trouble finding work. The job market is tough for immigrants and musicians – and especially so for immigrant-musicians. “Of course, I couldn’t find any wor

Zero alarm clocks. Working from the couch. A full-time yoga pants wardrobe. Freelancing certainly has its perks. Filing taxes is not one of them. Whether you’re considering making the big leap into the world of freelancing or you’re already in the deep end, your tax situation doesn’t have to be that complicated — we promise!  Here’s what you need to know to keep Uncle Sam happy as you navigate your entrepreneurial venture. How Do You Pay Taxes as an Independent Contractor? The advice below will vary if you’ve chosen a business structure like an S-Corp or an LLC. Since sole proprietorships are the default for most freelancers, we’ll focus on what those taxes look like. First thing’s first: making quarterly payments. Estimated Quarterly Taxes: How Much Do You Need to Set Aside? When you earn money as a freelancer, the transaction is direct: You name a price, you perform the service and your client pays you — without withholding any money to cover taxes or benefits. Of course,

When you know you have money coming to you, being patient can be difficult. As you visualize all the opportunities for how to use this pending receipt, you start to wonder how you can get it sooner. When you file your taxes , there’s a tool for getting your refund sooner: It’s called a tax refund advance. It’s effectively a loan against your anticipated refund.  Many companies offer them because they have relatively low risk compared with other loans. The lender sees your anticipated refund as calculated by a tax preparer and knows the government always pays the money it owes. While these loans offer a way to get what you’re owed sooner, be aware that not all that glitters is gold. These products often come at a cost. How Does a Tax Refund Advance Work? Tax refund advances offer nearly instant access to cash as you wait to receive your tax refund. They’re effectively a short-term loan against your future tax refund, providing liquidity until the IRS decides to issue your return. 

Editor’s note: This article was originally published in 2017 and has been updated. Dying is expensive. Data from the Bureau of Labor Statistics reveals that between 1986 and 2017, the cost of a funeral rose 227% . In the same time frame, all other consumer prices rose just 123%. Many people would rather not think about this statistic, let alone the choices for planning a funeral service, cremation or burial. But if you’re the loved one left behind to handle funeral planning and expenses, it can help to know what you’re getting into. And if you’re getting your affairs in order to make it easier for others in the event of your sudden demise, planning for the costs associated with your final wishes can lift some of the burden from your family and friends. In case you’ve never planned a funeral before, we asked Elizabeth Fournier, owner of Cornerstone Funeral Services in the rural community of Boring, Oregon, to give us the lowdown on what you can expect, whether you’re doing resea

You’ve spent decades in the workforce earning a living, your schedule dictated by the demands of the job. All the while, you’ve been steadily adding to your savings so that one day you could get to this point. Retirement. Now, there’s no alarm to wake you up in the mornings and no boss to answer to. You can finally get around to crossing items off your bucket list — or simply have the opportunity to catch a midweek matinee movie. The world is your oyster. But even though life feels more relaxed and carefree, that doesn’t mean you no longer have financial responsibilities. In fact, now’s the time you might need to be even more diligent when it comes to budgeting. Living on What You Have Saved When you say goodbye to your 9-to-5, you also say goodbye to your regular paycheck. You’ll rely on Social Security checks, the money in your retirement accounts and any additional income, like from a pension, to cover your expenses. Sticking to a budget in retirement is vital so your savings