A common misconception about IRAs – if you have a 401k at work, you can’t open an IRA. It’s false. You can contribute to an IRA and a 401k at the same time! Let’s take a closer look at investing in both an IRA and a 401k at the same time. Can You Have a 401k and an IRA at the Same Time? Yes, you can invest in both an IRA and a 401k (or a Roth 401k and a Roth IRA) at the same time, or any combination of those accounts. And in some cases, based on the fees in your 401k, an IRA might actually be a better place to invest your money. Limits on 401k and IRA Contributions If you want to contribute ..read more

Amy Dacyczyn began a newsletter called the Tightwad Gazette back in 1990 with just 1,700 readers. Six years and seven months later, she had well over 200,000 subscribers and a book deal. Her Tightwad Gazette newsletters were filled with wonderful, frugal (and sometimes…eccentric) tips and tightwad ideas from her own experience, as well as from her frugal readers. Tightwad Gazette I own the Complete Tightwad Gazette. It is 927 pages, and while I started it from the beginning when I was unemployed in 2008, I only got a quarter of the way through. Nowadays, I like to open it to a random page and ..read more

The 2019 Roth IRA limits increased by $500 this year. The Roth 401k contribution limits also increased by $500. It’s time to adjust your contributions if you haven’t already! The 401k limits and IRA limits are determined based on inflation, but can only increase in $500 increments. The 2019 social security wage base increased by $4,200. Roth IRA and Roth 401k Limits I highlight the Roth IRA and the Roth 401k because they are my favorite retirement plans; the limits for traditional 401ks and IRAs are the same as the Roth 401k and Roth IRAs. The 2019 limits will increase for the traditional IRA ..read more

How to build a financial pie chart. Have you made a financial pie chart yet? I’m a numbers girl. Always have been, and always will be. I see things in numbers and fractions and percentages. Budgeting and tracking my spending comes easy for me because of that. But if you’re a visual person, you might find it a little harder to stay aware of your financial situation. So today, I want to look at spending a little differently – by using a pie chart. Your financial health is made of up a number of factors – your income and expenses, assets and liabilities, and future goals/spending plans. But perh ..read more

How much money do you have to make to file taxes? What is the minimum income to file taxes? Let’s take a look at the requirements for the minimum income to file taxes in 2018 (and due in 2019). 2018 Minimum Income Requirements The IRS released the minimum income to file taxes in 2018. For the 2018 tax year, you will need to file taxes if your gross income meets the minimum income for your filing status and age. Here are the minimum income limits for the 2018 tax year. How Much Money Do You Have to Make to File Taxes 2018   Filing Status Minimum Gross Income (under 65) Minimum Gross Inco ..read more

I mentioned the Citi Double Cash card in our strategy for earning cash back on our mortgage payments Paying Bills with a Credit Card: No Fee via Plastiq and Masterpass. Citi Double Cash 2% Cash Back Credit Card The Citi Double Cash card is essentially a 2% cash back card. 2% cash back cards are some of the best cards for everyday spending. Since they don’t require a sign up each quarter for higher cash back it’s my go-to recommendation for friends who want just one card. The Citi Double Cash card is a good alternative to the Fidelity 2% Cash Back Credit Card if you don’t have a Fidelity accoun ..read more

Plastiq is offering free bill payments when you use your Masterpass account! We’ve covered how to use Plastiq to Pay Mortgage or Rent with a Credit Cards before. Typically, they charge a fee to use your credit card. Free Plastiq Bill Payments Right now, Plastiq payments of $500 or less are fee free! The current promotion for free credit card payments probably won’t last long, so be sure to schedule your payments as soon as possible. It’s our Free Money offer this week. How to Get Your Free Plastiq Bill Payments Sign up for a free Plastiq account if you don’t have one. Sign up for a Masterpass ..read more

I’m always on the lookout for new credit card sign up bonuses! The ABOC Platinum Rewards card caught my eye this week! The card has an easy $150 sign up bonus with a low spending requirement. These criteria are what makes up our list of Most Popular Credit Card Bonuses Last Year, so I’m guessing it will be a popular bonus for readers! The ABOC (Amalgamated Bank of Chicago) card also earns 1% rewards on your spending with no annual fee. It’s our Free Money Friday offer. How to Get Your Sign Up Bonus Sign up for the ABOC Platinum Rewards Credit Card*. Make $1,200 in purchases on your card withi ..read more

Every day it seems there are new scams trying to separate hard working people from their money. Sadly, these scams are getting more and more sophisticated and as a result, easier and easier to fall for. It is important for you to be aware of the biggest scams you need to know about. By staying on top of what is happening, the less likely you are to fall for these scams and because of this, keep your hard earned money safe and sound. (Photo Credit: Alexas_Fotos/Pixabay) Let’s take a look at the 5 biggest scams you need to know about. 5 of the Biggest Scams You Need to Know About #1. ‘Yes’ Cal ..read more

When you spend your money, you want to get a good value for what you pay for. Your goal should never be to put out money for things that cost more than they are worth. If you subscribe to spending this way, you will never get ahead financially. Unfortunately, there are some things where the line between cost and value get blurred and many people think they are getting good value for their money when in reality they are throwing money away. 5 Things That Cost More Than They Are Worth I’m going to walk you through 5 things that cost more than they are worth. Make sure you don’t fall for these a ..read more