From holistic accounting practices, which concentrate on a broad spectrum of financial elements, we are now moving towards an even more personalized approach — financial therapy. This field aims to address the nexus between emotional well-being and financial stability, helping individuals navigate the often stressful landscape of personal finance with ease and confidence.
Continue reading...Personal Finance
Building Financial Resilience: Strategies for Weathering Economic Ups and Downs
In the ever-changing landscape of personal finance, characterized by fluctuations and uncertainties, building financial resilience stands paramount. This approach goes beyond mere savings and investments, representing a holistic strategy to withstand economic volatilities while safeguarding one’s well-being.
Continue reading...Holistic Budgeting: Crafting a Financial Plan that Nourishes All Aspects of Your Life
In a world where our financial decisions reverberate through all aspects of our lives, the concept of holistic budgeting emerges as a guiding force, encouraging us to view our financial landscape as an interconnected ecosystem rather than isolated silos.
Continue reading...SEP IRA vs. Solo 401(k): Which Plan Offers Greater Flexibility and Tax Benefits for the Self-Employed?
As a self-employed person, saving for retirement is an important part of effective financial planning. Fortunately, there are several retirement savings options available that offer tax benefits and the ability to save for retirement. Two of the most popular options for self-employed individuals are SEP IRAs and individual 401(k)s, also known as solo 401(k)s.
Continue reading...Building Sustainable Wealth: What is Holistic Accounting?
Holistic accounting is a way of looking at an individual’s full financial ecosystem, rather than just focusing on their business. It takes into account a wide range of factors, including business and personal financial activities, credit health, investments, estate-planning, and other non-standardized ways of looking after our financial world.
Continue reading...The Connection Between Finances and Mental Health: How to Achieve Both
As a small-business owner, managing your finances can be a constant source of stress and anxiety. While it’s important to keep track of your financial health, it’s also crucial to take care of your mental health. Here are some ways that small-business finances can impact your mental health, and strategies for managing the stress.
Continue reading...Understanding Your Credit Score: A Comprehensive Guide for Credit Karma
Some years ago, Marvel and Star Wars weren’t owned by Disney, Intagram and WhatsApp weren’t owned by Facebook (now Meta), and Credit Karma wasn’t owned by Intuit.
Alas, times have changed. Luckily, Credit Karma as a product hasn’t changed much since its acquisition. It still offers reporting through two of the three agencies. It still floods you with offers for personal loans, new credit, and more. (They’ve gotta run a business somehow, right?)
Continue reading...How Do I Avoid an Audit?
Ah, the age-old question. Perhaps nearly as old as time itself, or at least, as old as the IRS. By the way, Abe Lincoln formed the IRS in the middle of the Civil War – 1862 to be exact.
What better way to knock your opponents into submission than instill a new method to track their profits and tax them accordingly? Okay, I’ll spare you the diatribe against “the man,” and hone in on why you’re here – to avoid an IRS audit!
Avoiding an audit isn’t an exact science – it involves managing risks
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