Money and Bills Blog

Although the winnings from a game show can change a lucky winner’s life instantly, their after-winning-life might not be as splendid and impressive as most of us think.

I always had the dream of making an appearance on game shows such as The Price is Right, Wheel of Fortune, and Let’s Make a Deal. The truth is, game show winnings are always a two-sided coin and often a suckers bet in my opinion.

While you’ll have magnificent on-air memories to perhaps cherish for years, you’ll also be taken to the terrible secrets of game show winnings: The burden of having to pay taxes on your winnings.

It’s something that you’ll never hear a game show’s host mention on TV, but you can always count on, that the IRS will always come for their share!

For this reason, let’s look at some issues revolving around paying taxes on game show winnings, whether it’s a new car, thousands of dollars in cash, or a fully-paid vacation to the Bahamas (which reminds me, I need a vacation.)

Are Game Show Winnings Taxed?

Yes, In the United States, winners have to pay game show prize taxes. This is basically because the government views game … READ MORE

For smog checks, I have a perfect dream. In my dream, you should be able to take your car down to the shop one time, spend no more than an hour, pass the test, and then go on with your life.

But with a very old car, it’s a nightmare if you don’t pass.

It goes something like this:

1. You don’t pass the initial smog check.
2. You pay for a diagnosis and expensive repair bill.
3. The car’s computer that controls the engine gets reset and has to do a self-diagnosis.
4. You have to drive the car for a few days until the computer can be “smog test ready“ again.
5. Then you go back to the mechanic’s shop and do the smog test again (and hopefully pass.)
6. Pray its not more than 2 – 3 trips to the repair shop over a 1 or 2 week period (if everything gets fixed properly.)

Waiting for a car’s computer to be “smog test ready” is a very frustrating and time-consuming process. I really, really don’t understand why the process is so bureaucratic and a consumer nightmare.

Do you want to ease the frustration and know 100% when your car … READ MORE

Parents! I can’t emphasize enough about how important it is to teach your kids about money. Especially, by the age of 14 and they’re teenagers becoming young adults.

These days it seems like there’s little to no financial education in the traditional school system. This is setting up young adults who are graduating high school for financial failure!

One such failure is getting into a very, very, very deep student loan and credit card debt hole.

I’m seeing young adults going to college for the hope of pursuing a prosperous career path. But, after they graduate they’re straddled with high student loan debt and a degree that might not bring the earning potential that was promised. Credit card debt can also be an issue if the student was short on cash and used it to pay for additional bills or living expenses etc.

One of the worse student loan nightmare examples I’ve been reading about can be found in an article recently published by CBS News called Millennials struggle under the burden of student loan debt: “I had a panic attack”

The Credit Problem When Teens Turn 18 Years Old

When a teenager turns 18 years of age they can … READ MORE

It’s always fun to go to a sporting event. Whether it’s baseball, football, basketball, or something else, live sports are always best experienced in person.

The Problem? Sports tickets aren’t necessarily cheap, especially if it’s for your favorite team or you want to go to a playoff or championship game.

Where I live in the SF Bay Area, I’ve seen general admission tickets for basketball games cost 300 or more dollars per seat. Football can be even more expensive. Baseball tickets are the cheapest, but a Playoff or World Series ticket will still set you back hundreds if not thousands of dollars for two people or a family of four.

How You Can Save Money On Sports Tickets.

• Go on the right day. Weekend games are almost always in higher demand. Tickets for less popular days can be far cheaper, sometimes by 50% or even more. Fans who want to save should also skip out on major holidays such as the Fourth of July.

• Watch losing teams. Teams with poor records might be ‘bad,’ but only if compared to other professional teams. They still offer amazing displays of athletic skill and high-level competition, but at a much less cost.

The Pros vs. Cons of Hiring A Certified Financial Advisor – Do You Actually Need a Financial Advisor?

There’s no doubt that you’ll have more investment opportunities as you attain more wealth. Unfortunately, more wealth often comes with lots of complexities and of course a greater need to get a certified financial advisor. Generally, a financial advisor can help you plan out your investment and financial life and prevent you from falling into financial pitfalls.

While you can do it with the help of a certified financial advisor, you can as well do it all by yourself and still become successful. Doing it yourself gives you more control over your financial situation and obviously saves you some money.

But hiring a financial advisor comes with immense advantages such as saving your precious time and expert advice on how to invest and plan your financial future.

Who is a Financial Advisor and What Does They Actually Do?

A financial advisor is a certified professional who helps his/her client plan personal and business finance. A financial advisor will help you come up with a practical retirement savings plan. He can also help you make sound investment decisions now and in the future.… READ MORE