Financial – Redberrydeals

07Mar 2018 by holly

What is a Traditional Spousal IRA?

Financial

Yes, it is deductible! No Personal Income needed! My world turned upside down when I learned about the Financial Independence community. I have mentioned briefly about it. More to come. One of the biggest benefits to the community is learning about the Traditional Spousal IRA. I had no idea! I'm a SAHM (Stay At Home Mom) so I personally don't have a 401k plan at this time, my husband does. Yes, the Traditional IRA contribution can be tax deductible and no you don't need personal income to contribute to it. What?! Really? Yes! I have mentioned the Spousal IRA in my post Financial Independence - Step by Step Guide on Contributing to Retirement Accounts: What is a Traditional Spousal IRA contribution? Let's look at the source the IRS. Per their website…

15Feb 2018 by holly

What if your 401k plan stinks. What should you invest in?

Financial

When I started investing in my first 401k I was so excited. I couldn't believe it. I had the opportunity to invest. I was young 21 years old and I couldn't believe it. I knew that a 401k was a big deal and I knew that investing is ...scary! My parents didn't know about investing and I wasn't taught in high school or college. Personal finance was not taught. That first 401k had very few options and to this day I'm not sure which ones I picked I think I did Large Cap, Small Cap and even the company stock?! Oops! Bad idea! I want to teach others the lessons I learned. The first steps to remind everyone about saving: Pay yourself first! This is key. Automatically invest. Make it…

24Jan 2018 by holly

You don’t need $10,000 to invest at Vanguard

Financial

VTSAX - What is that? VTSAX is a common term heard around the Financial Independence community. It is an index fund called the Vanguard Total Stock Market Index Fund Admiral Shares and many believe it is the best index fund to own. I have to agree. Per Vanguard's site "since 1992, Vanguard Total Stock Market Index Fund is designed to provide investors with exposure to the entire U.S. equity market, including small-, mid-, and large-cap growth and value stocks." It holds over 3,000 stocks. Yes, you read that right it has over 3,000 stocks. It is one of the most diversified index funds out there. What are index funds? Why index funds? In short, an index fund per Vanguard's website: "Instead of hiring fund managers to actively select which stocks or…

17Jan 2018 by holly

Financial Independence – Step by Step Guide on Contributing to Retirement Accounts

Financial

Welcome! So, you want to gain financial independence but don't know where to start investing your money. A question you might have includes: Which retirement account should I contribute to first? What should I do with this money that I have saved up? Roth vs. Traditional vs. Taxable? The amount of information out there can be daunting so I thought I would put together a simple introduction. (Standard disclaimer: This is my opinion. Consult a financial advisor to discuss your specific scenario.) Look closely at your budget and decide how much you can cut back to fund your investments. Common wisdom is to pay yourself first. This means put money into savings or investments before it sits in your checking account and you spend it on something. Live on your…

03Dec 2017 by holly

Finance Goals 2012-2016

Financial

What happened since 2012?If you go back and look at my Financial posts you will see my goals for 2012 and prior. I enjoy looking back and seeing what I did. So I thought I would write up a short description of what we did since then.Financial Goals 2013In 2013, we succeeded in maxing out my husband's retirement accounts. We also continued to save in our emergency fund. We also made a decision to hire a financial advisor. At the time it seemed like a great idea and it seemed like a good match. Later, I will explain that wasn't exactly the case. That was a financial mistake we made. Please be warned!We decided to update our kitchen and replace the floor, and replace the countertops with granite. We did…

17Feb 2010 by holly

DIYPlanner.com – Check it out! Get Organized for 2010!

DIY, Financial, Uncategorized

Organization is a never ending battle. No matter what life throws at you, you will be disorganized at one time or another. There have been times I have been so organized it felt great, but life does happen and that planner gets left at home, or the monthly to-do list gets misplaced on the kitchen table with the mail. Now, that I'm a working outside the home Mom, being organized is a dream! Even in my About Me I mention my struggle with organization - "I hope as time goes by I will have the opportunity to learn to organize my time better and post deals as well as shopping trips." I was a Day-Timer fan for years. I still have a place in my heart for the Day-Timer concept,…

27Jan 2010 by holly

2010 Savings Challenge

2010 Savings Challenge, Financial, Uncategorized

I'm a huge fan of so many bloggers including Mrs. MoneySaver and Frugalfriends.wordpress.com. It is so inspirational to read about each of their goals for 2010! I'm so excited because if you read my earlier post from last year about our financial goals 2009 I'm excited to say that we've done everything on the list and then some! We've done a lot and we continue to stay on track! This is what we did in 2009! 1. Continue to pay our credit cards each month! 2. 6+ months of expenses for emergency fund 3. Increased each of our life insurance policies! 4. Got an umbrella policy. 5. I'm super excited to say that we maxed out on our retirement accounts! 6. We started a 529k for our daughter and family…

04Jan 2010 by holly

How do you calculate your grocery or drugstore savings?

Financial, general, Uncategorized

I'm curious, how do you calculate your grocery or drugstore savings? Do you calculate it based on regular retail prices? Do you calculate it based on sale prices? How do you calculate it using your reward points /bucks/ rewards? I've been trying to figure this out for a while. We save a lot each year on so many things! We don't ever buy toothpaste, razors, and other household products just because I can get it FREE or really cheap. I know I'm saving a lot because of that but how much am I really saving per trip? What formula do you use? I plan to find a couple formulas and post them here. Source Img: All You magazine

31Dec 2009 by holly

Happy New Year! and Donations!

Charity, Financial, general, Uncategorized

Happy New Year! I'm so excited even though the weather today isn't the prettiest it sure is nice to to be home and rest with the family. Plus we are going to make my version of the Starbucks Ginger Bread Latte! Cheers! I just wanted to send a quick reminder to everyone that it is Dec 31st, which means you should complete any 2009 donations today! There are so many charities that need help and even it is a, $1 or $5 it is so appreciated by those that don't have much. Plus, most charities are tax-deductible which can help with 2009 taxes. Giving is worth it! Happy New Year! Img Source: Justin Newitter

24Dec 2009 by holly

Merry Christmas!

Financial, general, Uncategorized

From my family to yours - Merry Christmas, and see you in the New Year! I will continue to do the best I can and post any interesting deals as I find them. I will be taking a break like most bloggers and enjoying the holiday season, but when I find interesting tidbits to share I will do the best I can. A couple reminders! This coming weekend will have the P&G insert-December 27 - so don't forget to get your local paper. Keep an eye out for some great deals on December 26 for next year's Christmas season like candles, wrapping paper, cards and ribbon. Remember to create a budget and stick to it. That reminds me! It is time to start thinking about financial goals for 2010. What…

Category: Financial