Crisis Budgeting: How to Survive Financial Catastrophe And Thrive on the Other Side

When you’re a single parent, it doesn’t take much to knock you into a financial crisis. Sudden job loss… flooded basement… a sick or injured child… dozens of things can make you dip into and use up your emergency savings. And those financial setbacks can leave you struggling to make ends meet. Lots of times, those events pile on top of each other. And like so many of you, I’ve lived with financial anxiety, and had months where I  couldn’t pay all of my bills. When you’re stuck inside a financial crisis, the usual money advice doesn't work. You need…

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Ladies, We Need to Save More for Retirement

Overcome Anti-Woman Retirement Obstacles to Fully Fund Your Future Note: This post contains affiliate links. If you buy something through one of these links, I may receive a commission. It’s harder for women to save money for retirement – that’s just a fact. And that can leave many of us in a dicey situation when we’re ready to stop working, or can’t work anymore. The world throws a bunch of obstacles at us that can get in the way of building secure retirement nest eggs: We earn less than men, and that affects our entire lifetime earnings – when you start…

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How To Set SMART Money Goals And Get Everything You Want

How to Set SMART Money Goals and Get Everything You Want

Note: This post contains affiliate links. If you buy something through one of these links, I may receive a commission. You want to save money, but how? When you’re a single mom on a tight budget, saving for anything can feel impossible. The key to successful saving plans is setting SMART goals: SpecificMeasurableAchievableRealisticTime-oriented Framing your goals this way gives you a much better shot at reaching them and continuing forward financially. When you come up with your SMART savings goal, make sure to write it down. According to research, writing down your goal makes you 42% more likely to achieve it.…

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What to Do If the IRS Took Your Refund for Student Loans

Are you behind on your student loans? Many single moms face this same struggle. When budgets are super tight, student loan payments drop out of the “necessity” column. Because, honestly, those payments aren’t nearly as important as food, clothing, shelter, and medical care. And if you have federal loans, your lenders are hooked into the IRS. That means they can grab your income tax refund. They’re supposed to warn you – once – the first time they keep your money. It doesn’t matter whether you get their letter, only that they sent it. That’s all they need to do to…

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Business Tax Prep Checklist for Freelancers, Contractors, and 1099 Workers

Gather all of your business tax information here, and the hardest part of doing your taxes is done. Whether you DIY your taxes or go to a tax pro, this is what you’ll need to have on hand. Copy of last year’s tax return Your business tax ID number (if different than your Social Security number) Business bank statements Business credit card statements Business loan statements Business financial statements: Balance Sheet and Profit & Loss Statement IRA or other retirement plan contributions made during the tax year Self-employed retirement contributions Self-employed health insurance premium payment records HSA (Health Spending Account)…

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