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Bankruptcy

Manos Legal Services > Bankruptcy (Page 4)

How to Kickstart an Emergency Fund

[ad_1] Besides having a spending plan and saving for retirement, one of the major tenets of financial wellness is to have a healthy emergency fund. But the reality is that when you’re juggling multiple financial priorities—or simply have a rough time covering your bills each month—building the recommended three to six months for the unexpected is super challenging.   I remember when I was making $30,000 at my first full-time job. While that doesn’t seem like terrible pay, living in Los Angeles can be pricey. With rent on my tiny studio apartment in West L.A. devouring about a third of it, I...

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Is $1,000 Emergency Fund Enough?

[ad_1] People tend to latch on to the wisdom of the most prominent experts in any field. In the case of personal finance, the most famous expert is probably Dave Ramsey. One of his key pieces of advice is to save $1,000 in an emergency fund before paying off any high-interest debt. That’s good advice, but some people end up taking it the wrong way. They assume that $1,000 is the most they need to save, rather than a baseline. For some people, that might be enough – for others, it’s not even close. The amount you need depends entirely on your...

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Insurance When You’re a Freelancer

[ad_1] When you’re a 9 to 5er, it’s easy to take your company’s benefits for granted. And now that you’re a freelancer, one of the things you need to tend to is creating your own benefits package. Plus, as an army of one, self-employed solopreneurs bear the risk of higher uncertainty—hello, feast or famine! It’s even more important that you insure yourself against any potential perils you may face. Here are key types of insurance sole proprietors should consider: Health insurance Medical bills can get very expensive, very quickly, points out Tyler Dolan, a CFP and financial planner at Society of Grownups. Take it...

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Why I will be Rude to You After You File Chapter 13

[ad_1] I like my clients. I find bankruptcy work rewarding because I can offer positive change to the lives of honest, hardworking people who have an immediate financial problem. However, I can be an absolute pain in the rear end to my Chapter 13 clients after we file and during the two to four month period of time prior to the plan confirmation hearing. Why does this disconnect exist? Why would you want to hire a lawyer who will be demanding and abrupt? The answer is simple – if you want your Chapter 13 to work, you and I have a lot...

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WTFinance: What is Compound Interest?

[ad_1] It’s claimed Albert Einstein once said “the power of compound interest is the most powerful force in the universe.” While it’s still unknown if he actually said this or not, the message remains powerful and widely adopted and here’s why: Compound interest is basically interest on the principal amount + interest that has already accrued. In other words, interest on interest. Here are the key factors to keep in mind:Principal = amount borrowed or invested Interest rates =Interest paid on principal Interest paid on accrued interestCompounding schedule = interest can accrue daily, monthly, yearly or any other schedule laid out in the...

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Jessica Naziri of TechSesh on the New Mint for iOS Look

[ad_1]If you ever wished for an easier way to figure out what you should do to improve your financial health– stop what you’re doing and read up! Maybe you’ve heard me talk about Mint’s website and mobile app and how it helped me create and stick to a budget during my wedding and after (link to past videos). I’ve always been a fan of Mint, and now with new iOS app redesign, better features and data-driven MintSights– or Mint Insights, it’s even easier to stay on top of your savings, expenses and budgeting. This app update will help you have a...

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Why does the IRS file liens? And what you can do about one.

[ad_1] The obvious reason the IRS files a lien is because someone owes it money.  If you have a lien filed against your property the IRS is attempting to collect a debt. It could be an aggressive or passive collection attempt but the lien signals the existence of a debt. Whenever you face debt collection consider your options, including the possibility of bankruptcy. For a greater understanding, first let’s briefly examine what is a lien.  A lien creates a right to keep possession of property belonging to another person until a debt owed by that person is paid.  Most liens do...

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What are the Types of Financial Benefits Big Companies Offer?

[ad_1] Employers might think employees are looking for companies that offer a game room or on-site massage chair, but research shows employees actually don’t want superficial perks— they’d rather have core benefits and compensation packages. Financial incentives can be great, but only if you understand what they are and how to take advantage of them. There’s no point in having great stock options or a retirement plan if you don’t actually know how to make them work for you. To actually get the incentive, you need to do your research. Currently, millennials prefer cash over stock for long term investments, so...

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How to Make Money with Side Hustle Apps

[ad_1]  If you ask a random person on the street what they do, chances are they have a lot of slashes and hyphens in their job titles. In this day and age, if you don’t have multiple sources of income you are just getting by. The era of working one job your entire life is over, and when it comes to finding ways to make extra money on the side, millennials are very creative with their side hustles. Some side hustles pay well and some are passion projects, but if you’re looking for some extra cash, listen up. Whether you’re the...

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How I Finally Built an Emergency Savings

[ad_1]   Emergency savings. Building one can seem daunting for anyone living paycheck to paycheck … When I was 27, I went to an outlet mall because I just felt like getting something new. I remember being pretty happy with the jeans and shoes I found. I also remember calculating in my head that payday was two days away, I had a full tank of gas and my team was going out to lunch the next day – so lunch was covered. Which, in my mind, meant I technically had the money for it. And honestly, at the time, this reasoning didn’t...

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