All Posts By

Tarra Jackson

Aug 04
Love0

Love And Money: 5 Ways to Talk Personal Finance on a First Date

By Love and Money, Money Management, Relationships No Comments

First dates are hard. You’re trying to be a funny, charismatic, and interesting version of yourself while asking insightful questions and listening to your date.

If you’re one of the few Americans who’s passionate about your personal finances and doesn’t want to waste time with someone not on the same page, you’ve got an even harder task. How can you find out your date’s views on money without being rude?

Here are five strategies you can use to stay charming and get the financial scoop.

Propose a cheap date

If you want to find a frugal romantic partner, don’t schedule your first date at a steakhouse. Suggest a picnic, scenic walk, or coffee shop. A date with expensive tastes might balk at these ideas, but it’s a quick way to find out how your romantic interest feels about money.

Consider your date’s attitude

You aren’t going to find someone who wants to discuss ETF allocations or tax-gain harvesting on the first date. Most people aren’t passionate about their personal finances. That doesn’t mean you should give up on dating. Consider looking for a partner who shares your frugal values but hasn’t figured out how to implement them. If you find a date interested in your long-term plans to live within your means and avoid debt, you’re off to a great start.

Use open-ended questions that get your date talking about their long-term lifestyle plans. Letting your date do most of the talking makes you seem like a good listener and gets you the answers you need. Many dating experts suggest asking about dreams and ambitions on the first date. It’s not just financially smart; it’s also romantic.

Ask about vacations

Ask your date about their dream vacation. If your date starts describing a first-class trip to Paris complete with five-star hotels and Michelin restaurants, that’s a good clue they aren’t frugal. Try mentioning your plans for camping at a state park or using credit card rewards for travel and see how they react.

Discuss career plans

You don’t need to pull out your 20-year blueprint for your career, but you can discuss generalities and gain insight into your date’s personal finance thoughts. Ask what job they’d do if money was no object or where they see themselves in five years. Are they planning on a career as an artist or part-time social worker? Those are admirable paths, but they might not mesh with your personal finance goals.

Talk about the perfect home

Asking your date questions about their dream home is a sneaky way to learn about their financial maturity. If they want a 10-bedroom McMansion, have they talked about career goals that make their ideal home realistic? Do they want to live in the suburbs and commute an hour each day into the city? Perhaps you’ll be surprised and have a date who dreams of a mortgage-free house.

Frugality is not the norm. Most Americans spend more than they earn and struggle under heavy debt loads. Money is the most frequent reason for arguing among married couples. Finding someone who shares your financial views is hard work, but a strong relationship will be your greatest long-term asset.

Originally appeared on Learn.StashInvest.com.  Click here to Sign up with STASH here.

Aug 03
Love0

4 Back To School Savings Tips

By Money Management, Saving, Shopping No Comments


It’s that time of the year again … Summer vacation is over and it is now BACK TO SCHOOL time!!! Even though parents are celebrating on the inside, what keeps them from doing the happy dance on the outside is the expense of Back To School Shopping!

So, to help all of the parents with school age children really celebrate, especially if you missed the Tax Free Shopping Day, here are 4 Back To School Savings Tips.

Think Outside of the Box

National office supply stores, national drug stores, Toys R Us, Best Buy, Khols, and Target are great places to get school supplies for super cheap or FREE. Yes, free. Check out their weekly ad in your Sunday newspaper; you may see great deals for items that happen to be on your supply list.

There’s an APP for That

Use money saving smartphone apps like ShopKick, Plink, and Valpak which offers savings right at your fingertips. Compare in-store prices, reveal the best deals, or find online coupons with these easy to use apps.

Get Social!

Facebook and Twitter are for more than just connecting – you can also discover exclusive deals. ‘LIKE’ and Follow office supply brands on Facebook and Twitter for exclusive deals. Use Twitter to search for #deal, #save, or #coupon and you’ll see a flood of thrifty tweets. If you don’t feel like searching yourself, you can tweet @ValpakCoupons or @Savings, include hashtag #HelpMeSave and mention what you’re trying to save on. You’ll receive a coupon in return to jumpstart your Back-to-School savings efforts.

Get Cash Back! 

If you shop online and aren’t using a cash back site like Ebates.com you are missing out on Free Cash!  It’s super easy to use!  Just log in to Ebates.com, find your favorite store, and start shopping.  With every purchase you will earn back a percentage of your total purchase amount (between one percent and 40 percent depending on the store).

Using these 4 simple steps can help you save big during your Back To School Shopping!

Apr 17
Love0

Automate the 52 Week Money Challenge with this Cool App

By Money Management, Saving No Comments

Have you heard of or are doing the 52 Week Money Challenge?

This challenge helps you save almost $1,400 in one year (52 weeks) by saving incremental amounts of money every week. Click here to read more about the 52 Week Money Challenge.

52 Week Savings Challenge

Although, this challenge is usually started at the first of the new year, it’s never too late to start saving at anytime and there’s no time like the present!

Most people who are doing this challenge with me have expressed their difficulty with automating the process. Well, I am excited to share a way that we can automate the 52 Week Money Challenge with ease and for free with a cool money saving app called Qapital.

52-week-money-challenge-with-qapitalHere’s how it works:  During the first week of the challenge, you save $1. During the second week, you save $2. You keep adding a dollar each week so that during the last week, you’re putting away $52.

This adds up to $1,378.

Qapital uses Rules (unique, automated savings strategies, triggered by your everyday habits), and automates your savings. This makes all the difference in the world when you are trying to get to the finish line of your savings goal.

Here’s how to get started:

To get started, download the app, connect your checking account and then set a Goal. Your Goal can be anything —  a trip to Miami Beach, a shopping spree, a new laptop —  as long as you’re saving for what is important to you. You can also add a photo of your Goal to inspire you! Once you’re all set up, it’s time to add the 52 Week Rule. Follow these simple steps and get started!

Create an account 

Open the Qapital app and create an account.

Activate the 52 Week Rule
Tap the ‘+’ button in the top right-hand corner, then select the ‘New Rule’ banner. Scroll to the bottom of the list of Rules and select the 52 Week Rule.

Choose your strategy.
Decide whether you want to start small and work your way up ($1 for week 1, $2 for week 2, $3 for week 3, etc.) or if you want to start big and work backwards ($52 for week 1, $51 for week 2, $50 for week 3, etc.). Choose the one that works best for you. I prefer the start big and work backwards.

Select your Goal
Connect the Rule with a Goal. It’s up to you what you want to spend the money on.

If you want to ramp up your savings, you can also save your change by using Qapital‘s Round Up Rule while doing the 52 week challenge so that you will finish out the year with up to $2,000 or more in your pocket. That’s serious some serious spare cash.

So, what would you do with an extra $1,378 a year? Tweet at me at @msmadammoney and tell me what you’re saving for.

Get the app!

#StartSavingSomethingSooner

Apr 10
Love0

How Crowdfunding Could Help Your Business

By Business, Money Management No Comments





Crowdfunding campaigns are becoming increasingly popular for businesses of all sizes. While traditional investors or backers can be difficult for a company to get, crowdfunding allows future customers or clients to invest in something they would like to see happen.

Through a crowdfunding campaign, you ask customers, donors or excited mini-investors to contribute a certain amount of money to your idea. In exchange for their contribution, you provide them with an exclusive deal or item. The more money they contribute, the larger the “prize.”

There are a number of reasons why crowdfunding has gotten so popular, with one of the largest being that it gets the target audience involved and excited about seeing a project come to life. Crowdfunding builds excitement around an idea and gauges customer support before a company invests in an idea.

Companies that run successful crowdfunding campaigns may see many different benefits. If you’re considering using a crowdfunding campaign to raise money for your next project, here are a few benefits you may experience.

Crowdfunding Boosts Brand Awareness

While you may already need a solid following to run a successful crowdfunding campaign, this kind of fundraising strategy can really get your business noticed. Crowdfunding websites like Kickstarter and Indiegogo feature popular campaigns and allow visitors to search through specific categories or ideas, increasing your chances of getting noticed by donors.

A crowdfunding campaign can also help boost your brand awareness by giving your loyal customers something to share. When they’re excited about the product or service you’re hoping to create, they’ll get their friends and families excited as well. This boosts your exposure and can bring in some new long-term customers.

Crowdfunding Minimizes Risk

When you introduce a new product or service to the world, there is always some level of risk. If you don’t do proper market research, your idea may flop – meaning you’ve wasted precious time and money creating something no one wanted.

But crowdfunding minimizes that risk. Because you’re asking for donations directly from the individuals who would eventually purchase the product or service, you know whether or not the demand is strong enough to follow the project through. If you reach your crowdfunding goal, you can expect to see a successful project. If you fall short, you’re not terribly inconvenienced.

Crowdfunding Allows You to Stay Out of Investors’ Pockets

Many entrepreneurs struggle to get the money they need to grow their company without having to forfeit part of their ownership to an investor. The more an investor owns, the more control they have over the way the company is run. If an entrepreneur gives up too much, they may see their business slip out of their fingertips.

Crowdfunding presents an alternative to traditional investors. Because crowdfunding donors only expect to see the project come to life, entrepreneurs can get the money they need while holding onto their company. Many non-profits also turn to crowdfunding to raise money for their services. Because crowdfunding gives the community an opportunity to contribute, it can help many non-profit organizations meet their goals.

Crowdfunding Gives Your Community a Say

Traditionally, businesses would create a product or service and then create a marketing campaign telling their audience why they need to purchase that product or service. While this process has worked in the past, the internet has made it more accessible than ever for customers to discover what they really want. This puts the power back in the customer’s hands.

Crowdfunding allows a company to collaborate with their audience to create a product or service their audience is truly looking for. Because the product is not completed and the customers are funding the project, they can provide feedback, tips and questions. The entrepreneur can then apply this opinion to their final product.

Crowdfunding Helps You Stay out of Debt

Going into debt can be a death sentence for many entrepreneurs or small businesses. While some debt may be necessary for getting off the ground, if you’re unable to pay off your loans, you may find your business being shut down before you really got a chance to get started.

Crowdfunding allows you to minimize your debt while you’re in the growing stages. Through pre-selling items, offering low-cost incentives for donating and gauging the amount of interest in your new company or product, you can better budget and plan for the company’s start. This can prevent you from needing to borrow money from a bank or business loan provider.

Creating a crowdfunding campaign has the potential to completely change your business. If a campaign really takes off and becomes viral, you could have a stream of loyal clients before your company really gets off the ground.

When deciding whether or not crowdfunding is right for you and your business, consider these benefits. While they are not guaranteed to every entrepreneur that runs a crowdfunding campaign, the right strategy, marketing and planning could bring your business the boost it needs.

Anum Yoon is a personal finance blogger who started Current on Currency. She hopes to empower people to take control of their own finances. Sign up for her weekly money newsletter here.

Feb 27
Love0

Steps to Take If You Have Negative Equity on Your Car

By Loans, Money Management No Comments





A car does not grow in value like a house. As a result, it’s very possible to to have negative equity on your car. Specifically, this is when you owe more money on the car than its actual worth. A car depreciates in value by around 10% even after you drive it off the lot, and it continues to depreciate after every use. Unlike a property, which can rise in value even without modifications, a car will very rarely increase in value without further investments into it.

Purchasing a car can also present various risks from the get-go. If you overpay for a car to begin with, the chances of eventually having negative equity on it are higher. If it’s too late and you already have negative equity on your car, there’s no need to fear. There are several steps you can take to help resolve the situation.

See If You Can Afford the Monthly Payment

Your monthly car payment is the primary concern for those with an upside down car loan. If you’re able to pay it on time, then it’s not a big issue and will eventually be paid off. However, this isn’t always easy. Unemployment or job loss combined with negative equity on a vehicle can put you in a bad situation.

Before considering steps to counter negative equity, it’s worth evaluating your own financial situation to determine the likelihood of paying the loan off. In many cases, it’s better to simply pay off the car in monthly installments until it’s paid off, though there are several viable alternatives as well.

Use a Credit Line

Becoming reliant on credit cards is a big no-no for personal finance. However, in the case of excess car debt, it’s a very realistic option. If moving to a credit line, you have to be absolutely certain that you can afford the monthly payments, or you will incur additional fees. Look to get a credit line with low introductory APR. Some cards offer 0% APR for the first year. If this is the case, do your best to pay it off within that year. At least with moving it to a credit line, the issue won’t be as pressing, especially if you’re deciding between groceries and your car payment.

It’s also worth consulting with a local credit union to see if they can provide a good personal loan. Peer-to-peer lending networks are another alternative, as are applying for a rollover loan, which can eliminate negative equity depending on the incentive.

Sell Excess Items, or the Car Itself

Look around your house or apartment for luxuries or items you don’t use frequently. Perhaps you have a gaming console you don’t play much anymore or a dress that you bought a year ago but never fell in love with. These are prime items to sell in the hopes of building up equity to pay off your car. Sites like eBay and Craigslist make selling items like these easy. Plus, it helps de-clutter your space.

It’s also worth considering selling the car itself. Although it’s unlikely you will net enough to cover the entire overage, it’s worth considering if it’s close enough. For example, if you owe $9,000 but get an offer for $7,000, it may very well be worth selling and taking public transit for the time being. Covering $2,000 without a car may be easier than covering $9000 with a car, depending on your lifestyle.

Work Part-Time

Even though you may feel exhausted after a long shift at work, if you’re in a rut with car payments, it’s worthwhile to get a part-time job. You can use this job’s profits to spend exclusively on the car payments. There are an abundance of part-time retail and telecommute jobs, ranging from copywriting to graphic design, that you can engage in depending on your skillset. Various employment guides can provide listings for available jobs and job fairs.

In the future, you can help avoid this problem by not purchasing a loan at all. Sometimes a car is necessary, though if you can manage without it, there’s no need to take out a loan. Paying more than the minimum each month and keeping up with car maintenance are other suggestions for avoiding negative equity situations in the future.

By Guest Contributor: Anum Yoon




Anum Yoon is a personal finance blogger who started Current on Currency. She hopes to empower people to take control of their own finances. Sign up for her weekly money newsletter here.

Feb 24
Love0

Hate Your JOB? Here’s how to ReNew the Love of What You Do!

By Business, Money Management No Comments





If you are working a 9 to 5 and you feel like you are in JAIL and still “Just Over Broke,” I completely understand. Check out my recent Facebook Live where are shared some simple and practical ways to “ReNew the Love of What You Do” to break free without quitting your job prematurely.

Recap:

  1. Reset Your Mindset
  2. Perspective Is Everything
  3. Negotiate Your “Contract Renewal” during annual Performance Evaluation

Share your thoughts and other ways to #ReNewYouAtWork below.