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Tim McMahon

Work by editor and author, Tim McMahon, has been featured in Bloomberg, CBS News, Wall Street Journal, Christian Science Monitor, Forbes, Washington Post, Drudge Report, The Atlantic, Business Insider, American Thinker, Lew Rockwell, Huffington Post, Rolling Stone, Oakland Press, Free Republic, Education World, Realty Trac, Reason, Coin News, and Council for Economic Education. Connect with Tim on Google+

Tap Credit Card

Question: I’m brand new to credit cards.

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I’m brand new to credit cards. If my limit is $200 is it true I shouldn’t use more than $40? If I immediately pay it off, can I charge $40 to it multiple times per month?

Typically a Credit Card with only a $200 limit is called a “Student Card” so congratulations on starting your credit journey on the right foot by asking these questions.

If your limit is $200, you can charge up to the $200 limit in any combination you like. But you will receive either a “Card declined” message or a penalty fee if you charge over the limit. (So, don’t do that!)

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Florida Home Insurance

What Homeowners Need to Know about Florida’s Property Insurance Crisis

Home Owners / By

Florida homeowners are facing a significant challenge with the ongoing property insurance crisis. Over the past few years, this issue has spiraled, leaving homeowners concerned not only about the rising costs of insuring their properties but also about the overall stability of the housing market in the Sunshine State. As insurance companies pull out of

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Hurricane

How to Financially Prepare for Hurricane Season

Insurance / By

Hurricane season in Florida is an annual event that brings a mix of anxiety and preparation. The financial impact of a hurricane can be significant, but with the right strategies, you can safeguard your finances and ensure you’re prepared for whatever the season brings. This guide offers comprehensive advice on how to financially prepare for hurricane season in Florida so that you can face the storm with confidence and peace of mind.

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Estate Planning- Trusts

Key Considerations for Smooth Wealth Transfer Planning

Estate Planning / By

Key Considerations for Smooth Wealth Transfer Planning.

Components of a robust estate plan include a will, trusts, a power of attorney, and healthcare directives. A will specifies how your assets should be distributed upon your death. Trusts, which hold and manage assets on behalf of beneficiaries, can be tailored to meet specific needs, such as reducing estate taxes or providing for minor children. A power of attorney grants someone the authority to make financial and legal decisions on your behalf if you become incapacitated, while healthcare directives outline your medical treatment preferences.

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Retirement Taxes

Taxes After Retirement: What You Need To Know

Retirement / By

You might think that once you stop working you won’t have to worry about taxes anymore. But that isn’t true. You might still be liable for taxes on everything from Pensions, IRAs, and even Social Security benefits.
Planning for taxes during retirement is essential to ensure financial stability and peace of mind. As you transition from earning a regular paycheck to living off pensions, Social Security benefits, and retirement account withdrawals, understanding the tax implications of each income source is crucial. This blog post aims to demystify the complexities of taxation in retirement, providing clear and concise information to help you manage your finances effectively. Whether it’s knowing how much of your pension or Social Security benefits will be taxed, or strategizing around Required Minimum Distributions, being well-informed can make a significant difference in your retirement experience.

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Miami Night Skyline

Cost of Living Adjustments: Moving from the North to Florida

Cost of Living / By

Many people focus on the sunnier climate and scenic beaches when moving from the Northern U.S. to Florida. However, understanding the shift in the cost of living is crucial. This move involves not just packing boxes but adjusting to new economic realities. Each region of the Sunshine State has its financial landscape, and residents must prepare for these changes. So, consider how your expenses will transform before envisioning your life in one particular part of the state. This article will guide you through these financial adjustments, helping you settle into your new home smoothly.

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What is Identity Theft and How to Protect Yourself

Security / By

Identity theft is a serious crime that can wreak havoc on your finances and personal life. It occurs when someone steals your personal information, such as your Social Security number or credit card details, to commit fraud or other crimes in your name. In this article, we will discuss some signs that your identity may have been stolen and provide tips on how to protect your finances from falling victim to this increasingly common crime.

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Installing a new Roof

Smart Spending for Your Roof: Navigating Costs and Options

Home Improvement / By

Replacing a roof can be a big expensive job. Fortunately, an asphalt roof typically lasts from 25 to 30 years, so you shouldn’t have to do it very often. But recently in places like Florida insurance companies are drastically raising rates for houses with roofs over 15 years old. So, a roof replacement may be cost effective even if the roof is not really in need of replacement yet.

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Flood Damage Recovery

Finding Your Way: Navigating Insurance Coverage For Flood Recovery

Home Owners / By

Dealing with flood damage can be an overwhelming experience, both emotionally and financially. It’s a time when understanding your insurance coverage and how to effectively file a claim can make a significant difference in your path to recovery. In this guide, we aim to arm you with the essential knowledge and tips to navigate the complexities of insurance claims and coverage for flood damage. This guide is designed to walk you through every step, ensuring you make informed decisions that lead to a smoother and more efficient recovery process.

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