Cash is King

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We’ve heard the saying…

Cash is King. And yes, it is true, cash is king.

But Cash is also a strong motivator to not use it as often. You see the more you use cash, the less you will like to use it. I’m sure you are scratching your head right now, saying “What?” No I don’t.”

But think about it, the last time you used cash to buy something and you see the money going out your hand, how do you feel?

All of the sudden everything seems expensive (yes, even a dollar item) and you want to keep the majority of it in your pocket. So you think twice about the purchase, you ask is this really necessary (in which most of the time, you take things off your cart at that point), and then you only buy what you can.

Therefore, cash is definitely king. It controls and helps us at the same time. It quickly helps us access how much we truly have, in what we should truly spend it on, and how much we want to keep it.

This is the reason why Financial Divas use it more often until they are debt free and have learned the basics of financial literacy. They know that they have to put away the credit cards and commit to cash for their well being.

Next time that you go out, make sure to use cash for it, and you’ll see how cash is king. :-)


Your Financial Adventure, Starts Here...

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Do you know

🤑Where you are going?

🤑When you will get there?

🤑How you will get there?

🤑Why you are going there?

🤑Who or What will help you to get there?

The answer to these questions are at the starting point of your financial adventure.


Let us guide you through our easy steps in our financial challenge. Become a member (it's free!) and get the small steps to take everyday to start your journey in the right direction.

The Day After Filing Your Taxes

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It’s the day after

filing your taxes, and what are you do to make sure that 2019 is a tax success?

First thing is first,

✴️ Check what pinned you - what made you pay more and plan accordingly for this year to avoid this as much as you can

✴️ Organize & have All Paperwork Ready (early)- As the year goes on, have a separate folder for all paperwork corresponding to your taxes

✴️ Check to see what is your tax bracket this year - you do this by going to the IRS site and based on this year's gross income you estimate where you will fall next year

✴️ Plan accordingly to your tax bracket and speak to your tax advisor on how you can lower your taxes this year

✴️ Check which expenses to pay in full and which ones to pay in installments. You can ask your tax advisor about this. Usually when it comes to medical expenses and business memberships we pay it in installments. But sometimes it is best to pay it off by year end because you may be able to write off more. Talk to your tax advisor and see which method and for what will help you most based on your tax scenario.

✴️ Contribute to your retirement accounts throughout the year

Today is the Day- Tax Day

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Oh Happy Tax Day!

Today is the day.

Today is the deadline for filing your taxes!

And hopefully you get a return back or don't owe anything.

What we prefer is that you don't owe anything because that means that you did not give the Federal Gov a free loan with your money, and that means you planned your taxes amazingly well.

If you are in this category -CONGRATS!

But, if you are receiving a return, still good!

Here are the many ways to utilize your taxes (and no the list does not include to use it or a vacation- sorry but not sorry):

1.🚩 Pay off some debt

2..🚩 Automatically transfer it to an online savings account with a high interest rate (yes, you may need to open a new account, but if that means more in your pocket, then so be it)

3. .🚩 Save it in your emergency fund

4. .🚩 Pay off all or some of your rent - this will give you some wiggle room and less worries - also you can you the saved rent money into paying off your debt or saving it (you see the where we tie it back to...lol)

5..🚩Use it to pay off school tuition or to get a certificate or accreditation so that you get paid more in your job/venture

6. .🚩Put it into your 401K, IRA, RothIRA or any other investment

Remember the point of your taxes return is not to use it as a vacation savings account, rather use it correctly and to catch up on any expenses that you were not able to afford.

The Day Before You File Your Taxes

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On the day before you file your taxes, the federal government gave to meee… (sing this with on the 12th days of Xmast tune and you’ll remember this)

Nothing.

The federal government doesn’t want to give you anything and instead prefers that you pay of course. Therefore, it is up to you to make sure that you have planned for your taxes correctly and that you are not owing them anything.

But a day before you file your taxes, what can you do?

  1. See if contributing to your IRA/RothIRA will help you reduce your tax bracket

  2. Review all your records, and make sure you have all the corresponding back up and correct statements

  3. See if you will be able to get a slot to see a tax preparer (it might not be the case, but you never know)

  4. If your are doing it yourself, make sure that you review and answer correctly every tax form and question before submitting your taxes

  5. If you don’t have one already, open up a saving accounts with a high interest yield percentage and include that routing number and bank account within your tax forms. This will ensuret hat any refunds will be deposited to an account that will help you not use it (because its out of sight, out of mind)

  6. 📌File an extension. An extension will provide you with the ability to file until October 2019 at no cost to you. It will provide you with additional time to gather all the information you need to make sure that you get your maximum return.

    📌One thing to remember, if you owed last year and think you may have to owe again this year, then keep in mind that you will still need to pay the amount but IRS will charge you interest for everyday that is late. So try your best to do the taxes as soon as possible from the extension (or if you can avoid it all together). 

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