The Money Talk
Blog about money? You bet!
T.I.F.F. = Teaching and Inspiring Financial Freedom
Financial independence is the goal so let's dive in
Speaking of... what is financial literacy anyway? This is an excellent place to start!
Definition
EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization.
Why It's Important
This is one measure you can use to determine a firm's financial performance....
Definition
A tax deduction lowers a taxpayer's tax liability by reducing the amount of taxable income.
Why It's Important
You have probably heard a lot about tax deductions and tax credits during tax...
Definition
A tax credit is an amount of money that taxpayers can subtract from what they owe the government
Why It's Important
You have probably heard a lot about tax deductions and tax credits during...
Definition
Debt consolidation is when you take several debts and get a loan to pay them off, therefore, providing you with one monthly payment instead of multiple payments
Why It's Important
I will...
Definition
Bankruptcy is a legal preceding that involves a person (or business) that is unable to repay their outstanding debts
Why It's Important
Declaring bankruptcy gives the filer a chance at...
OK, so I felt like this was a timely post in light of the government shutdown and the possibility of families not receiving food assistance in the coming months. If you aren't aware of all...
Definition
Income tax is a tax that the government imposes on both individuals and businesses. These funds go to support our government infrastructure.
Why It's Important
Because it's tax...
Net worth is calculated by subtracting your liabilities from your assets. If your liabilities are more than your assets, you have a negative net worth. If your assets are more than your...
Definition
Liabilities are anything that you owe (debt). They can be divided into Current and Non Current Liabilities, depending on how soon you have to return that debt.
Why It's Important
It is...
I am always trying to find ways to pay off my debt faster! One of my favorite ways is to participate in the gig economy, particularly ride sharing (driving for Uber & Lyft). Now, I...
Definition
The 5 C's of Credit is a system that lendors use to determine your creditworthiness.
The 5 C's are:
Character
Capacity
Capital
Collateral
Conditions
Why It's Important
Having all of your...
Definition
A 401K is a retirement plan offered by most companies to help you save and invest for the future.
Why It's Important
I hope that everyone reading this is contributing to their 401K at work...
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