Financial Planning Articles
- How Much Does Home Insurance Cost?
If you are looking into buying a home or are considering moving, you may be wondering how much does home insurance cost? Well, TFC can help answer that question. While we may be an auto title loan lender, we’ve been in the financial lending industry for over 20 years. We’ve helped our clients with a multitude of financial dilemmas. If it’s answers about home insurance you need, TFC can help.
What is Home Insurance?
Home insurance is similar to car insurance as it protects your car against damage or injury to persons. It protects against losses or damage by issues like fires, storms, or burglaries. If someone is injured on your property, it also covers the legal costs and medical payments for that person. Earthquakes and floods could be additional costs to your coverage plan.
For your home insurance payments, your premium payment is usually paid monthly along with your mortgage. Home insurance is almost always required with a home loan. Don’t be surprised if your lender for your home loan requires you to verify proof of home insurance.
What Does Home Insurance Cover?
Your home insurance will cover everything that includes your home like the structure, plumbing, electrical wiring, central air, and heating systems. It will also include other structures on your property like fences or sheds. Anything inside your house that are your possessions like electronics, appliances, or clothes can also be covered.
When your home is getting fixed or repaired, your home insurance will also cover the cost of the hotel room that you have to stay at. The personal liability coverage will also include the medical payments for the person injured on your property.
What Types of Home Insurance Are There?
There are different types of insurance ranging from HO-1 to HO-8. Most average homeowners will purchase the HO-3. This includes the liability cost, fire, wind, and theft, but does not include damage from floods, earthquakes, wars, or nuclear accidents. HO-1 and HO-2 will cover less than HO-3, while HO-4 is for tenants and renters.
If you live in a state where there is high risk for flood or earthquake, like California, then some insurance or loan companies will require you to purchase the additional coverage for floods or earthquakes.
How Much Coverage Should I Purchase?
When it comes to purchasing coverage, you want a plan that will cover 100% of the costs to rebuild your home. These are the typical types of coverage:
- “Actual Cash Value” coverage: This pays what the home was worth at the time of destruction, before the damage occurred.
- “Replacement Cost” coverage: Pays more of a comprehensive value of the home, before the depreciation.
- “Extended Value” coverage: This will cover 20-30% of the policy coverage limit. If you have a $100,000 policy, it will pay $120,000-$130,000 coverage.
We suggest going with the more comprehensive plan to make sure you’ll be able to account for all the damage your house receives. We also suggest a comprehensive plan for covering the contents of your home. When choosing your liability, you want it to cover the total amount of money for your financial assets: home, retirement accounts, investments, anything worth money.
Don’t forget living in a high-risk location may require any extra coverage for the flood and earthquake damages. Some of the biggest losses recorded for home insurance damage are as follows:
- Wind and hail
- Water damage and freezing
- Other property damage
- Fire, lightning, and debris
What is the Cost of Home Insurance?
To put it into a broader perspective, for every $100,000 home value you may pay about $35 per month. The U.S. average per year is $1,083. The lowest location is in Oregon where they only pay $574 average per year and the highest is Florida with a yearly payment average of $2,055.
Below are the locations where TFC holds offices:
- Arizona: $64/month, $765/year
- California: $81/month, $974/year
- New Mexico: $78/month, $937/year
TFC Title Loans Helps Damaged Homes
Do you need to cover the cost of a home damage? Maybe you just need extra cash to pay your mortgage? Whatever the reason may be, TFC Title Loans can help get you back on your feet with auto title loans in your area. You could get between $2,500 and $50,000 in funds. And, you continue driving your car while you pay off your loan. Don’t let a messy problem stress you out! Call TFC Title Loans today and get your money in as little as one business day.
- How Much Does It Cost to Build a Tiny House?
The latest trends in the real estate business these days are the tiny houses. They’re innovative and, let’s face it, pretty cute. Whether you’re a low maintenance individual or you want a stylish camper to take on your road trips, building a tiny house could be for you. What you’re probably thinking is: “But, how much does it cost to build a tiny house? ”
TFC Title Loans has done the research for you! While we may not be a real estate expert, TFC Title Loans has been one of the leading lenders in the auto title loan business for 20 years. We help our customers in any way we can, even if it’s telling you how much a tiny house would cost.
DIY vs Contractor
To start, unless you have experience with construction, we highly suggest you hire a contractor. Your potential home is not the place to make DIY mistakes. They can cost you big and that’s a price that could’ve gone to a contractor.
With that being said, if you plan to build your own home, be ready to dedicate a lot of time. From people who have built their tiny house or are still building, they spend an average of 18 hours, 7 days a week for years. One builder has been building for two years, is still building, and has spent $6,500. Another is still building and has been for 10 years, but has only spent $1,500. On the other hand, someone who finished their home spent a total of $15,000.
When hiring a contractor, you have to think about the things you’ll want in your house. You have to choose what kind of systems you want running and the size. The Tumbleweed Tiny House Company, currently the nation’s leading tiny house contractor, has homes listed from $57,000 to $70,000.
When brainstorming the space you need, remember that it won’t be just a place to sleep in. You have to include space for storage, appliances, sleeping, stretching room, and privacy if you have people living together with you.
You should plan for 100 square feet a person. New construction averages at $125 per square foot, or personalized construction that can be up to $500 per square foot. Keep in mind that the more square footage you have, the cheaper the cost per square foot will be.
For electricity, you have two choices: a local power grid or renewable energy. A local power grid will depend on how close you will be to one. The average will be about a couple hundred, unless you’re running it into a source from yards away which could mean up to tens of thousands of dollars.
Renewable energy could also be pricey. The $15,000 home mentioned before had half of its cost go to an off-grid solar panel construction.
Water & Gas
It’s suggested that you plan to spend 30-40% of your capital on water and gas. With a sewage pipe, it depends on your location. If you’re in the middle of nowhere and will need to build a large sewage pipe to reach you, that will cost more money than you want to ever spend. With gas, the same rules apply.
In order to build your house, you’ll need a property to build it on. Cheap property is cheap for a reason. Either the land is unstable and built on a potential sinkhole or it’s hard to get any connection to your systems.
The same goes for getting closer to civilization. It will cost more money. An average farm real estate property in the U.S. goes for $3,000 an acre.
Houses that are supplied with the bare minimum range from $500 to $8,000 with an average of $4,000. This house would be equipped for a single person. It would be small, have enough room to sleep and store clothes, and maybe a fire pit to cook on. This would be for someone who intends to use it for camping or go off the grid.
If you’ve decided to build your home on your own, it will cost you from $5,000 to $40,000, averaging at about $20,000. This would account for basic electric, appliances, and enough for one to two people. There wouldn’t be much interior decorating, but it would be a home.
Contractor-built tiny houses can range from $10,000 to $80,000 with an average of $35,000, which is only $15,000 more than the DIY average. These homes will equip more people, and allows you to design it with all the major items and systems you need. Like any home, the more personality you put into it, the more it will be.
Auto Title Loans with TFC Title Loans
If you’re trying to get a jump start on your tiny home or need some extra money to decorate, consider auto title loans with TFC. By using your car title as collateral, we can get you the fast cash that you need to pay for any expenses or bills that pop up in your life. In as little as one business day, you can walk out our doors with your money. TFC has the most competitive rates in the business, so you can trust us to give you a great deal. Give us a call today and get your funds!
- How Much Does College Cost?
It’s about that time to start thinking about college for seniors in high school, or even those who don’t completely understand what they’ll be paying for this fall. College can be a stressful time, especially when it comes to the cost. So, you’re probably wondering, “ how much does college cost? ”
TFC Title Loans knows a bit about how loans work, so we wanted to help you calculate what you’ll be paying for when you take out those loans for college. We also want to make the lives of our customers stress free, so we’ve even offered ideas on how to pay for it.
Each school bases their tuition on whether you are attending a semester or quarter university. Each semester/quarter they bill you your tuition. For in-state students, you usually get a good deal compared to those attending from out-of-state. They tend to pay double that of an in-state student.
It also varies by major. If a student is majoring in the sciences, engineering, computing, pre-med, or fine arts, they will pay more than others.
The College Board reported that the “moderate” budget for in-state public tuition for 2016-2017 was $24,610 where the budget for in-state private tuition was $49,320. In actuality, private schools will offer more money for grades and academics than public, so students are only paying an average of $27,800 for private tuition rates.
While most schools include fees into their tuition rates, it’s still important to plan for them because they could be less if you live off campus. Schools will charge fees for transportation to campus like buses, library use, student government, athletics, and labs. According to the College Board, without room and board, the average yearly tuition and fees is $9,410 for in-state students at a public university, and $32,410 for students at a private university.
Housing and Meals
Each college has a variety of dorm options with different meal plans for those who live on campus. The average housing and meal plan for a four-year public university is $10,440 and a private university is $11,890.
Even if you choose to live off campus, you have to calculate those costs into your college budget. If you choose to live from home to save more money, make sure you’re calculating that transportation.
Books and Supplies
Every class requires you to buy books or other course materials. The average cost for a four-year public-school student is about $1,250, while for a four-year private-school student is $1,230. You can always lower that by purchasing used textbooks or renting them from online websites.
If it’s your first year as a student, don’t forget to factor in personal costs for a computer and accessories. Depending on the major and what kind of programs you’ll need on the computer, that could be an average of $400 for a PC while a Mac can be more than $1,000.
One of the perks of school is that you can apply for financial aid. FAFSA will base your financial need off of your parents income or yours, depending on what you and your parents claim on your taxes. Most of the time, a school will give you scholarship money, or you can get grants from the government. A lot of your financial aid could be loans from the government. You don’t have to start paying them off until months after you graduate. If you use the average tuition amounts listed previously, over four years, a public college can cost you $98,400 living on campus or $197,280 living on campus for a private college. While that’s not including scholarships, it still can add up over the years.
We suggest you apply for as many scholarships as you can. For example, TFC Title Loans offers a scholarship for those majoring in Financial Mathematics, Business, Finance, or Economics. It’s an award for $2,000, which could cover all your books and supplies! Apply today for our scholarship by going to TFC Title Loans Scholarship for Financial Innovation.
Other Funds with TFC Title Loans
If you’ve already received your financial aid or paid for your schooling but need some extra cash for spending or to pay a bill, consider an auto title loan with TFC Title Loans. We use the title of your car as collateral and give you the money that you need. The best part is you can still drive your car as you pay off the loan. You could receive anywhere from $2,600 to $50,000! Don’t hesitate to contact us with any of your questions.
- How to Plan for Retirement
Retirement can be a scary thing. When you’re young and starting your first job, you don’t want to think about retirement. You’re getting your first paychecks and want to spend it on the things you want to spend it on. As you get older, you realize maybe you should’ve started planning at a young age so you wouldn’t have had to worry about it later down the line. Regardless of why you may want to plan, learning how to plan for retirement can help everyone be prepared.
TFC Title Loans believes in helping their customers with all their financial needs. We want their lives to be as stress free and enjoyable as possible. If you’re worried about retirement, then we’ve got your answers here. Doing business in auto title loans since 1994, we’ve come up with different financial ways to save money for retirement.
When to Start
It’s never too late to start planning for retirement. Most of the time, jobs will set you up to automatically have a 401K established, or you have the option to establish one. If your company doesn’t have a 401K, they’ll most likely have a pension plan. In today’s economy, you can start saving right out of college with your first job.
If you don’t have any of those plans or you never received one, then there are many ways to save. You’re never too old to start, and you’re never too young. All of these ways below will help you save your money for retirement, regardless of age.
Estimate Your Needs
In order to calculate how much money you’ll need for retirement, you’ll need to calculate what types of things you’ll have in the future. To live an average life, most people need 70% of their annual income to live comfortably. If you plan to live out your dreams and travel as an elderly, you’ll probably need 100% of your income. Once you figure out what you’re going to need, you’ll be able to compare that to what type of retirement fund you’ll have. Then, you’ll know if you’ll need to find other methods of saving outside your 401K, pension/annuity plans, and social security.
Calculate What You’ll Have
After you’ve figured out how much you’ll need, think about how much you’ll have. If you have a 401K plan with your company, it’s highly suggested you take advantage of it. If your company uses a traditional pension plan, find out how much your individual benefits are. As you change jobs, if you do, find out what happens to your pension plan. Also, see if your spouse has a plan and if you’re entitled to benefits from them.
In order to calculate your Social Security Benefits, you can go online to calculate the estimates based on expected earnings.
Other Sources of Money
If you feel like what you’re estimated to receive for retirement is not enough, there are other ways you can save money so that you’re prepared.
Individual Retirement Account (IRA)
Putting money into one of these accounts can help you save. You can put up to $5,500 a year into an IRA, and you can contribute even more if you are 50 or older.
Investing long-term into the stock market has been a good way to save money. Even during the 2008 recession, the market averaged an 11% rate of return. Using online tools to help you can definitely benefit in your investments.
You can invest your money into objects other than the stock market. Investing into small companies or newer inventions can help you gain money in the end. Make sure you are doing your research on the new up-and-coming technology, focusing on consumable products. Avoid things like cash-value life insurance, individual stocks, gold, silver, and precious metals, annuities, or low-interest-yielding investments.
Another investment you can make is in yourself. Start an automatic deduction from your pay each month. Start low and you can eventually work your way up. You want to start a safety net first, then work on your retirement savings bucket.
Compound Interest & Savings
As a young adult, starting early could be one of the best decisions for retirement planning. Thanks to the power of compound interest, young people are given an opportunity to become truly wealthy. For example, you have saved $15,000 by the time you are 25. With a return rate of 12%, you will have over $1 million by the time you are 65.
Auto Title Loans with TFC
If you’re eager to get started on your saving, an auto title loan could be the answer for you. You may not have the money right now, but TFC could get you quick cash in as a little as one business day. By using the equity value of your vehicle as collateral, we base your loan off the value of your car. The best part is: you can still drive it as you pay! Fill out an application today to see if you qualify for an auto title loan.
- Good Side Jobs to Make Extra Money
Do you find yourself needing some extra cash to get you through the monthly bills? Maybe you are trying to save money for a trip that you’ve been dying to take, but don’t seem to have any spare money to put aside and save. Despite your reasons, there are some good side jobs to make extra money.
At TFC, we find ways for our customers to save money all the time. We understand that living paycheck to paycheck may be working, but it can be extremely stressful. There are plenty of options for you to fit an extra side job around your full-time job and normal lifestyle without causing more stress on you.
Crafting on Etsy
If you are a crafty and creative individual, then consider making an Etsy shop. On their website, you will find thousands of different trinkets that people sell. From phone cases to coasters, whatever you enjoy making you can sell. With a small transaction fee of 3.5%, you get to keep the rest of the money you make. They help you promote, manage, and grow your little business. The best part is you work at your own pace. That means you can decide what days and time you work, which makes it perfect to schedule around your work and personal life.
With the world’s reliance on the internet, there are so many options for online work. Another job that you can do on your own, many writing and consulting jobs that you can do last 1 day to a couple of months. Some require 10 hours per week while others require 20 hours. Many allow you to work from home which is a plus if you’re trying to work around your current job.
If you know you can’t commit to a freelance contract, then consider starting your own blog. You can choose what kind of blog you write. It can be personal life stories, home tips, restaurant reviews, or anything you like. You can get paid by selling advertising on your blog, sell your own product (similar to Etsy), become an affiliate for other people’s products, and more. While it may take a little time to build your own audience, once you do you could make a couple thousand dollars a month or more.
If you used to be good at a certain high school topic or your college degree is related to a high school course, you should share your knowledge with the world. You could do online tutoring, or find your local tutor location near you. You can earn upwards of $20-$50 per session. If you mastered the SAT, you could even help tutor kids for it, too.
You probably never thought your cleanliness would come in handy for anyone else but you. While you think your life is pretty busy, some people are barely able to clean their house on top of everything else going on in their life. Others just may hate the idea of cleaning and would rather pay someone to do it. You could offer your services as a weekly deal, bi-weekly, or a one-time deal for people who may be moving.
People like to go on vacations that may not involve their furry friends. Pets require some attention and work that don’t stop, so offering service to watch an animal is an easy but paid task. If you enjoy animals, then getting paid to feed, walk, and play with an animal should be an enjoyable task.
Offering to help a family or friend to watch their children can bring both you and the parents a sweet relief. Depending on the number of children and number of hours, you could earn upwards of $100 per night.
People can be a little wary about leaving their house abandoned for a week or two when they need to take an extended trip. Go about your normal routine, but you get to stay in a new place for a little while. It’s almost like a mini getaway, but you’re getting paid to do it.
If you think you’re good at painting walls and homes, offer your talents as a service. It can pay pretty well as a side service if you pick the right neighborhood. Just make sure you don’t drop any paint on their new carpet or upholstery.
A very common side job nowadays is registering your car with Uber and Lyft to drive people around. If you live near a city with a bar or party scene, this job could really pay you well. Especially on the weekends when people are out, the most common thing to do is take an Uber or Lyft to your destination. During certain times that the requests are more popular, the companies will raise prices for the rush which means even more money for you. Giving up one of your Friday nights could land a good chunk of change in your pocket. You could make up to $400 on one weekend alone.
TFC Auto Title Loans
If you have realized that you do not have any time to wait for a side job to pay or arise, consider getting an auto title loan with TFC. This could get you quick cash in as little as one business day. For over 20 years, we’ve been helping our customers with similar situations as you pay off emergency bills, vacations, home renovations, and other money dilemmas that arise. Give us a call and see how much quick money you can get today!
- How to Save For Something You Want
It can be really hard, particularly during summertime, to commit to a savings plan even if it is for something you really want. There are so many impulsive buying options that you have to commit to foregoing and that can be extremely difficult to do. But if you know that it is worth it for this specific item, whether it be a car or a vacation or a new flat screen television, then you will be able to hunker do and make the commitment. Once you do make that commitment, you need to figure out how to save for something you want at the most practical level. Meaning that you need to come up with a game plan and take the action steps necessary to meet those goals.
Here, at TFC Title Loans, we are dedicated to helping you achieve those goals in any way that we can. We have been in the lending industry for nearly 25 years now, making us the oldest lender in the state of California. We have been putting that knowledge to good use by expanding our website to include these resource pages for our customers to offer help and answers on all manner of issues including financial planning. We want to help you come up with a game plan for you to save up what you need to get that thing that you want. We don’t only care about selling you something because we make customer service and consumer education our number one priority.
Figuring out how much you need to tighten your budget to reach your goal will depend totally on how much wiggle room you have in your budget as it is. If you have a good amount leftover at the end of the month then you will only need to cut down on the frivolous expenses. However, if you have very little leftover at the end of each month, you might need to learn how to cut down on the big stuff like groceries or your utility bills. Once you have determined where you stand, you can start to come up with a strategic savings plan either by week or by month.
Come Up with a Savings Plan
… And stick to it! First, do some research to come up with a realistic goal for that big thing you are saving up for. Make sure to include tax and all other extra costs so that you end up with enough money saved at the end. Once you know exactly how much you need to save, come up with a realistic time table. Don’t pick a date that will stress you out or that is completely impossible because you will just feel discouraged and give up. Divide that savings goal by however many months you have in your time table and come up with a monthly savings goal.
Bank Transfers Automatic
Once you have determined your exact monthly savings goal, set up your bank about to automatically transfer that amount to your savings account every month right when you receive your paycheck. This way you are paying yourself first and you aren’t tempted to spend it instead of saving it.
Separate Savings Account
Don’t send those bank transfers to just anywhere. Make a specific savings account just for this particular goal. This will make it easier for you to keep track and will help you stay away from using that money.
Make Budget Cuts
Make cuts from different places in your normal monthly expenses and then stash that extra money into your savings account. Maybe cut your cable for a few months and rely on Netflix or Hulu. Go out to eat less often and cook at home. Cut out that daily Starbucks and make coffee at home instead. Take all that extra money and put into your savings account. If you get any sort of bonus from work or a tax refund then put it straight in the savings account instead of going on an impulsive spending spree.
If you do all of these things, then you are bound to reach your goals. Just stick to your plan and keep your end game in sight.
However, if you are struggling to reach that savings goal then consider taking out a title loan with us here at TFC Title Loans. We can get you a substantial amount of money based on the value found in your car regardless of your credit score. If you have any questions about this, give us a call right away as we would love to help you out. Or if you would like to apply right away, go to our home page and fill out our quick and easy online application. We really look forward to working with you so you can save up for that thing you really want.
- How to Budget for a Trip
It is officially summer which means it is time for some vacation planning. But you might be a bit worried about the finance aspect of it. Vacations can be needlessly pricey if you don’t plan them properly and budget according to what you can afford. Even if you are tight on finances right now, everyone needs and deserves a vacation. If you continue working long hours at your job without taking a break, it is inevitable that you will get burned out. By carefully planning, you can afford to go on vacation too. In order to help you out, we have decided to compile some advice on how to budget for a trip like a summer vacation!
Ever since we first opened our doors in 1994, we have been extremely passionate about customer service. We have gained our standing as the oldest title loan lender in California through our devotion to consumer education and lender transparency. Because of this we have been working incredibly hard to expand our website to include various resource pages that answer all our current or potential customers questions regarding title loans, financial planning, or vehicles.
We pride ourselves in our second-to-none customer service that has drawn thousands upon thousands of people to rely upon us for emergency funding when they are in need through auto title loans. But we love to help our customers in more ways than just the one. In this resource article, we will be going through the essential things you need to budget for and beware of in your spending while on vacation. If you need some great tips to afford the vacation you deserve, then you have come to the right place.
Things That You Need to Budget In:
- Transportation to get to your destination
- Transportation once you are there
- Accommodation expenses
- Funds for food and drinks throughout your stay
- Souvenirs and gifts for family or friends
- Emergency fund
Will you be flying? Driving? Taking a train? This might depend on your destination’s proximity or your budget. However, there are always ways to find the cheapest way to travel whichever route you choose to take. Buy plane or train tickets ahead of time since they are far cheaper, the earlier you buy them. Additionally, you ought to always price comparison shop using helpful websites like Priceline. If you are driving and are a multi-car family, then use the car that gets the most mileage for every gallon of gas. No matter which way you choose, you need to allocate the right amount for getting to your destination and money for when you get there so you can get from place to place whether by taxi, Uber, or rental car.
Find the cheapest places that offer safe and comfortable lodging. You can use price comparison tools like Priceline for hotels as well or you can consider using Airbnb since there can be very inexpensive places to stay on there. Put aside that money and book your room earlier…as early as you buy your plane tickets as you might be able to find cheaper options before they are all booked up.
Food, Drinks, and Entertainment
Set an exact budget on what you want to spend daily on food, drinks, and entertainment so that you don’t go over. Every time you go on vacation, you just automatically relax so it can be easy to get carried away with the daily spending for a nice meal out or a concert. If you have a general budget and a daily spend limit on those things it will be far easier to keep yourself in check.
Souvenirs and Gifts
There will be plenty of things you want to bring home to remember your trip. You might want to buy postcards to send to your friends and family back home. And, of course, you can’t forget to buy gifts for all your friends and family as well. You don’t want to arrive home empty handed. Establish a strict budget of what you can spend on souvenirs and gifts to take home with you. And stick to it!
You never know what can happen especially when you are traveling so it is vital that you prepare for the worst and have a substantial emergency fund available to you. If your car breaks down or you miss your flight, you need some sort of coverage. Set aside that money and don’t use it unless it is necessary.
- 15 Ways to Stretch Your Paycheck
Here are some of the best ways to stretch your paycheck:
Budget closely and carefully
The best way you can stretch your paycheck is to budget very carefully for each and every month then follow through on that budget. This is a very common budget break down that average Americans use:
- Housing – 35%
- Food – 15%
- Transportation – 12%
- Debt – 8%
- Retirement – 7%
- Health Care – 5%
- Communication – 5%
- Savings – 5%
- Entertainment – 5%
- Clothes – 3%
You can feel free to adjust this as need be, according to your unique financial situation.
Save on electricity with just a one or two-degree difference.
By just turning your heat down one or two degrees or your air conditioning down one or two degrees, you can save between 3% and 6% on your utility bill. That may not seem like much but it really does add up over time, saving you tons of money.
Save on unnecessary subscriptions.
Get rid of your landline as mobile phones are far more common now and you likely don’t even use it. Don’t sign up for an unlimited data plan on your phone and connect to wi-fi instead as that can save you tons of money every month. Wi-fi can be found nearly everywhere nowadays so why waste the money. And, finally, cut your cable or satellite bill and rely on streaming services like Netflix instead!
Find deals anyway you can but remember to only use coupons on things that you actually buy instead of spending more money on things you don’t need or usually buy.
Brew your own coffee
We promise you that brewing your own cup of joe every morning will save you loads of money as it is a fraction of the price of your typical morning Starbucks.
Track your spending with a smart phone app like Mint.
Use these great new technologies to know exactly where your money is going so you can cut expenses when you need to.
Make some extra money on the side.
Sell some of your belongings online or have a garage sale. Start driving for Uber or Lyft on the weekend. Deliver pizzas on the weeknights and make a whole bunch of tips.
Adjust your withholdings by filling out a new W-4.
You can simply make your paychecks larger by filling out a new W-4 since most employees actually have more taxes withheld than are necessary for income taxes.
Stop buying bottled water.
Why waste money and plastic? Just use tap water instead and if you need filtered water, just get a re-usable filter like Brita. You will still be paying a fraction of the price.
Buy less pre-prepared food.
Prepped food always costs almost twice as much as un-prepped food. So it is definitely necessary to stretch your culinary skills in order to stretch your paycheck.
Always look for sale or deal items when shopping.
When you walk into any sort of retail store just head straight for the sale section. You can find great deals for items of just as high quality.
Eat out less often.
Work on your culinary skills and cook dinner for yourself or your family more. You will not believe how big of a difference this makes in how long your paycheck will last.
Use cash instead of debit or credit cards.
When you are using real money instead of little plastic cards, you are far less likely to spend as freely. When you use cash, you will think harder before making a purchase.
Pay bills first.
Always try to pay your bills, especially the crucial ones, first so that you know exactly what you realistically have to spend for the rest of the month. That way you won’t come to the end of the month and realize that you don’t have enough to cover the necessary bills.
Get a title loan.
Consider getting a title loan with TFC Title Loans in order to cover some expenses that your paycheck cannot stretch far enough to cover. We can get you up to $50,000 at competitive rates in as little as one business day.
- How to Do Your Tax Return by Yourself
We are smack dab in the middle of tax season and with a tighter budget than last year, you may be wondering how to do your tax return by yourself. It seems too much to gather the funds to hire an accountant while it seems too daunting to take on the feat yourself. We would like to offer you a helping hand by walking you through the process so you don’t feel as uncertain.
As the oldest title loan lender in California, we, at TFC Title Loans, have gained extensive experience in finance including an in-depth knowledge of the process of filing tax returns. Over the 25 years that we have been in the lending business, we have come to the conclusion that it can be extremely beneficial to file your taxes on your own. So, we want to give you some tips on how to your tax return by yourself.
Even though we are a title loan lender and not an accounting firm, we strongly believe in consumer education and customer support. This is why we have begun to include informative resource articles on our website, so that we might assist all of our amazingly loyal customers with every aspect of their financial lives.
Not as Scary as You Think
Doing your taxes on your own is not quite as intimidating as you might think it will be. People tend to be very afraid of making mistakes, thinking that they might get audited or in some other form of trouble if they make any mistakes at all. But that is simply not the case. If you do make a small, honest mistake- there will be no audit, we assure you. If you are not purposefully providing false information, then the most that will happen is the IRS will let you know what you did wrong and either give you a bigger refund or ask for a little more money.
If you do your tax return by yourself, you can gain a lot of knowledge that you did not have before. It can help you to better understand what you are paying in taxes and why you need to do so. It is also significantly cheaper to file your tax return on your own. There are tons of free and very inexpensive software options out there that will make it easier for you and help you out along the way. Using tax-prep software can significantly reduce your chances of making minor errors and there are completely free options for taxpayers who have a lower annual income.
If you get stuck on something that you don’t know how to do, most tax-prep software will provide you with awesome step by step how-to instructions but if you can’t find the information you need there, you can always get your answer straight from the IRS by either going to www.irs.gov or by giving them a call.
- Avoidance and evasion are two completely different things. Evasion is illegal but avoidance by trying to minimize how much you need to pay in taxes is completely legal and smart. So, make sure that you get all the deductions, benefits, reductions, and credits that you might be eligible for.
- Be sure to save and keep track of all the documentation and forms that come from your tax return. If you don’t have a printer home, still save all the electronic documentation in PDF files that you can print out at a later date.
- Additionally, keep the CD or the link to the tax-prep software that you used to do your taxes each year so you can go back and consult a certain year in the future if you need to.
- Don’t forget that this year’s deadline in Tuesday, April 18th – 2017
By deciding to do your own taxes, you can save a bunch of money on professional help and feel significantly more in control of your money than you did before.
Refund Anticipation Loan
Are you anticipating that you will receive a major refund this year? If you are, that is excellent news and we are thrilled for you. However, we are aware that, in many circumstances, people need their refund money sooner than it comes. If you are crunched for time and need that tax refund money now to pay bills, then you ought to consider an auto title loan. A title loan could be the perfect way to hold you off until you receive that refund check in the mail.
Through TFC Title Loans, you could get a large chunk of cash very quickly based on the current equity value of your car. These loans from TFC are absolutely perfect as a refund anticipation loan because we charge absolutely no prepayment penalties, meaning you can pay back the loan anytime that you wish. You can pay it all off the moment you receive your refund check in the mail so you pay nearly no interest.
If this option interests you, then fill out our online application located on our homepage today!
- What is Net Worth and How Is It Calculated?
If you are currently trying to improve your financial well-being, you may need an answer to the question: what is net worth and how is it calculated? Determining your net worth is an excellent step in getting your finances on track and we would like to help you with that process. Here at TFC Title Loans, we may not necessarily be a financial planning agency but we care about our customers and want to see them succeed. This is the reason that we push ourselves constantly to not only be a lender but also a support to our customers with their financial needs. We strongly believe in consumer education so we have been expanding our website to include informative resource articles to enrich our customer’s financial knowledge and literacy.
In this article, we will be explaining exactly what net worth is and how you can go about calculating your own. We will also discuss how knowing your net worth can help you improve your financial situation. If you are interested in learning about net worth, then please continue reading below.
However, you may have come across this page because you are interested in obtaining an auto title loan to take care of some unexpected expenses. We have been in the title loan industry for nearly 25 years, making us the oldest title loan lender in California. With that experience, we have been able to perfect the lending process so if you need a title loan, you ought to consider us. Simply fill out our online application located on our website’s homepage.
What is Net Worth?
Net worth can easily be defined as what we are worth in monetary terms. Our net worth is how much we “have”, in way of things or assets of monetary worth, at any given moment in time. Your net worth is found when you subtract your liabilities, meaning what you owe, from your assets, meaning what you have. Therefore, if you have more liabilities than you do assets, you will have a negative net worth while if you have more assets than you have liabilities, you will have a positive net worth. When it comes to net worth, the main goal for personal financial health is to get a positive net worth and keep it moving upwards over time. By knowing your net worth, you will know how well you are meeting your various financial goals such as saving for retirement or paying off debt.
How to Calculate It?
Calculating your net worth is easier than you might anticipate. In it you don’t consider annual income since it is meant to be a snapshot of your current financial situation so it cannot take into account past income or future, rather just what is in your bank right now. First, you add up your assets. Next, you add up your liabilities. Finally, you subtract the total number of liabilities from the total number of assets.
These are the assets that you add up:
- The market value of your vehicle/vehicles
- The market value of your home and all other property owned
- The money in any of your various investment accounts including retirement funds and life insurance
- The amount you have in all your bank accounts including checking, savings, CDs, and money market accounts
- Valuable items with a substantial monetary worth such as furniture, collectibles, jewelry, or artwork
These are the liabilities that you need to add up to subtract from the above assets:
- Any unpaid medical bills
- Your mortgage
- Car loans
- Student loans
- Credit card balances
- Back taxes
How It Can Help You?
Some people wonder how simply knowing whether you are in a good spot financially or not can actually help you out. If you never know where you stand, you don’t know if what you are doing is working or if it isn’t. If you have a positive net worth, then you will know that what you are doing is working and be able to evaluate what liabilities you could get rid of to make that positive number even higher! If you come out of your calculation with a negative net worth, then you will know that you need to change your ways and do some serious work to improve your situation. Analyzing your net worth and the finer details of it will give you a plan of attack so you know which liabilities to erase first and which assets you could improve upon. Without calculating your net worth, you will never know how well you are accomplishing your various financial goals.