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Budget, Credit, Savings, Taxes

What To Do if You Can't Pay All Your Federal Taxes

Maybe last year you sold a home or sold off a large amount of investments that had greatly grown in value. Perhaps your job is in sales, and because of a super successful year and commission compensation, your take-home pay had an unexpected and very big increase, or your annual bonus was much more than you had anticipated. Whatever the reason for the major positive change in assets and income, you realize that the federal taxes that you need to pay the U.S. Internal Revenue Service (IRS) this year may be more than the cash you have on hand, and very likely will bust your budget.

Budget, Investment, Retirement, Savings

Great CD Rates and Great Service Are a Winning Combination

Did you know that a Delta Community Certificate of Deposit (CD) allows your money to grow at a higher interest rate than a savings account? It helps you grow your money, but unlike a savings or money market account, CDs are a time-based deposit—they are invested for a specific amount of time—with interest rates that can’t go lower than their locked-in annual percentage yield (APY). When the investment time period is complete the certificate of deposit has matured and can be reinvested or become cash.

Budget, Investment, Retirement, Savings

What to Do with a Financial Windfall

Suppose that unexpectedly (and quite luckily) you find yourself with a financial windfall; a surprise (and perhaps surprisingly large) amount of money that you weren’t aware was coming to you. The money could be an inheritance, a lottery win, a payment from the settlement of a lawsuit, a prize from a contest, a gift from a relative, the result of the sale of possessions or investments—or it could originate from some other situation. Regardless of its origin, if you suddenly have a new, sizable chunk of money, then you now have decisions on what to do with it.

Budget, Credit, Insurance, Vehicles

Resources for Getting the Car You Want

The car search process can be made considerably faster and easier with a variety of online tools or services that may speed up the process. A number of these services provide detailed information on car features, prices, the condition of used cars, and act as a database for inventories of vehicles held by car dealers and other sellers. A few car services sell cars directly to buyers and can provide auto loans. For some of these services there is no cost, while others may have an upfront fee for their use, and some services may have a financial charge if a vehicle is purchased through the service. Different services provide different benefits, and it’s important to understand what they offer and for what cost—always research carefully and compare prices. So what are examples these types of car services and what do they offer?

Budget, Investment, Retirement, Taxes

How to Start Saving for Retirement with an IRA

An individual retirement account (IRA) is a type of personal retirement plan offered by many different financial institutions (such as banks, credit unions, brokerage and investment firms) that provides preferential tax treatment on retirement savings, usually through tax-free growth or tax-deferred growth. Tax-deferred growth means you don’t pay taxes on the earnings until you withdraw the money. IRAs are directly managed by the accountholder, while other types of retirement accounts, such as 401(k) accounts or pensions, are usually administered by employers.

Holiday, Savings, Budget, Credit

Tips to Manage Holiday Spending–Part 2

It's not unusual to increase spending during the holidays as shoppers try to get the perfect gifts for family, friends, and colleagues. Being strategic in holiday spending now will help you prepare for and manage after-holiday bills in the new year. Following—continued from Part 1 of this post—are more practical tips to ensure you stay on budget this year, rather than overspending during the holidays. The sections below focus on managing money, keeping track of expenses and creative gift giving.

Budget, Credit, Holiday, Savings

Tips to Manage Holiday Spending–Part 1

It's not unusual to increase spending during the holidays as shoppers try to get the perfect gifts for family, friends and colleagues. Although it can be easy to overspend on holiday shopping, with a little bit of planning, budgeting and discipline, it is possible to celebrate without using too much of your cash or maxing out your credit card limits in November and December. By planning and budgeting carefully during the last months of the year, you can prepare for and manage after-holiday bills in January.

Budget, Retirement, Savings, Security

Protecting Aging Adults from Financial Abuse

Being aware of an elder’s lifestyle is the first step in determining if they may be a victim of abuse. There may be many small and large symptoms of potential elder financial abuse, and it’s important to stay current on a family members’ (or friends’) behavior, their living environment, and, if you can, how their financial accounts are set up and their cash flow and bill paying activities.

Budget, Investment, Retirement, Savings

Smart Money Tips for Anyone Age 50 or Older – Part 1

There is a broad range of potential lifestyle and financial decisions to make and actions to take by age 50+, and below are some suggestions for anyone in that age group. This blog is part of a series covering this important topic, so there will be additional parts to it coming up in the future.

Budget, Insurance, Investment, Retirement

5 Ways to Save Money on Life Insurance

One way of thinking about life insurance is that it’s essential at any time of life, and it’s there to help people you care about in what may be an unfortunate time of need. The cost of life insurance varies, and it can be customized to meet financial, age and lifestyle needs. With research and appropriate lifestyle and purchasing choices, life insurance can be both affordable and available.
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