It’s really difficult to sift through all the gimmicky “free credit report” offers you find on the internet — most of which invariably turn out to cost you dearly. However, AnnualCreditReport.com is the official site for truly safe and free credit reports. This site is jointly owned by the three big credit bureaus (Experian, Equifax…
How a Family of Four with a $100,000 Yearly Income Pays only $6,252 in Federal Income Tax
I know the title of this article is a bit provocative, and rest assured that I do not in any way mean for this to be a political argument; I just know the subject of taxation can be a boring one, and as a CPA I like to make taxes much more interesting if possible.…
The Impact of Prepaying your Mortgage Principal Each Month
The Bankrate.com Mortgage Calculator is one of the most valuable tools I’ve found to help you calculate the impact of prepaying your mortgage each month. You can plug in different scenarios for your mortgage and it spits out a full amortization table in a matter of seconds. It also helps highlight the value of prepaying…
Quick Tips: Roth-IRAs for Children
This ‘quick tip’ is probably only applicable to about 1% of our readers right now, but if you’re like me then hopefully this will strike you as such amazing information that you’ll store it away somewhere and think about it when you have a child who is about 13 years-old: Anyone who has ‘earned income’…
Quick Tips: Tax Credits and Tax Deductions Explained
One of the most fundamental items you need to know to have even a basic understanding of taxation is the difference between a tax credit and a tax deduction. You’ll hear these two items discussed quite frequently, but we’re struck by how often people mix them up or use them interchangeably when they are dramatically…
Quick Tips: What is an ETF?
One of the most talked about financial investment products today is the ETF, but most people really have no clue what these are or if they are beneficial to them as an average investor. An ETF is an ‘exchange traded fund’, but the full name really is an ‘exchange traded mutual fund.’ So in most…
Quick Tips: Prepaid Legal Benefits Plan
This is the first in our series of “quick tips” posts that intend to provide some short bits of at-a-glance wisdom on various aspects of your financial life: If you have kids or are expecting your first in the near future, you imminently need to see a lawyer to have a will and trust agreement…
How we each only spend $4 a Month on Cell Phones
Laura and I each spend approximately $4 a month on our cell phones for a grand yearly total under $100 combined! This means we’re paying at least $1,500 less per year than most similar couples who have the latest cutting-edge ‘smart’ phones (“poor phones”?) attached to their bodies at all times. As you can probably…
Five Simple Ways to Lose Weight and Save Money
One of our big themes here at RichmondSavers.com is that things don’t have to be so complicated all the time. This extends throughout your financial life into every other aspect of your personal life. Keep it simple and you’ll reduce stress, make noticeable progress and come out way ahead in the end. This post is…
Net Worth Tracking – 2nd Quarter 2013
The 2nd quarter of 2013 came to a close yesterday and one of the things we strongly suggest is for you to start tracking your net worth each quarter. Once you have the tracking spreadsheet setup, it should take you about 10 minutes each quarter to login to each account and write down your current…