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Should Your Child Wear A ‘LEAF’ To School

After your child gets their driver’s license, one of the next financial considerations is whether or not you should purchase another car for your household.   Some parents will buy their children a brand new Hummer while others will find clunkers that weren’t intended to be two-tone cars even though the hood is black the rest of the car is grey.   With advancements in technology, is it possible that getting a brand new electric car is a good idea? If you’ve read Your Smart Money Moves over the past five years, you know that I’m not a humongous fan of leasing cars.   However, in the case of electric cars, it can be quite advantageous, at least within the state of Georgia.   Consider what a lease would look like on the electric vehicle Nissan Leaf. An income tax credit is available for up to 20% of the cost to purchase or lease an electric vehicle, or $5,000, whichever is less. The credit ...

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Four Rules Of Thumb That Are Thumbs Down

For many years I have seen articles galore in the major magazines giving consumers “rules of thumb” about making financial decisions.   In a society today where we want to get all of our information in sixty seconds or less, many of these magazines can talk one week about five dollar meals to make and then the next week discuss major financial decisions to make in your household.   I’ve never really been a big fan of “rules of thumb”, so here are four major financial “rules of thumb” that I am simply thumbs down on when it comes to making smart money moves.  Rule Of Thumb #1- 2% Difference In Interest Rate To Refinance –   Many popular magazine and newspaper articles will suggest that you generally shouldn’t consider refinancing unless the difference between the new interest rate and your old interest rate is 2%.    This “rule” makes very little sense to me. What you want to be considering are a handful ...

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Your Kid Has An I-Phone. Who Pays The Data Plan?

I’m pretty sure Apple can’t be hurting even though Steve Jobs is not at the helm anymore.   My kid’s went back to school last week and mentioned to meet the glut of Apple products that other students got from Santa Clause over the holiday season.    Apparently, even the elementary students stocked up on I-Pads, I-Touch, and the middle/high school students racked up on the I-Phones.     We all know that none of these technology gadgets are cheap to buy.    However, one of the topics that people don’t like to discuss is who will bear the cost for the data plan.  This is where the real dollars and cents add up over the long term. Parents will have varying opinions on this, but I’m of the opinion that when you child hits high school that you want to have them own part of the monthly data plan.  Each year that they get older, you should have them bear more and more of ...

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We are married and don’t discuss money!

When you get married and take your vows, it goes something like this. I take you to be my lawful wife/husband/partner, to have and to hold, for better, for worse, for richer, for poorer, in sickness and health, until death do us part. It does say for richer or poorer, but unfortunately many couples across America just don’t spend time discussing money.  More often than not today, I see separate accounts, unmerged finances, and she pays this and I pay that. I’ve been married for over sixteen years, and while I am the one that predominately handles the money, there is nothing hidden in our financial relationship.  The more secretive and separate things are in a financial relationship, the worse it always turns out to be whether it be your household or in business partnership. I have the same kind of relationship with my business partner. It’s true that each partner needs to have some independence, so it is very ...

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oXYGen Financial – Bundling Services

Money Advice From The Money Guys At oXYGen Financial – Bundling Services Visit oXYGen Financial – Atlanta’s Premiere Financial Solutions Combine your cable, internet, and telephone service. I used to have three separate carriers handling all three of these services in my household.  By combining all three of these services together, my overall monthly bill went down by approximately $83 per month.   You should always weigh the pros and cons of these different services, but if you hypothetically invested this $83 a month in an account that earned 3% rate of return over 25 years, you could have an additional $37,111 in an account at retirement.  Past performance is no guarantee of future results.  All returns are for illustrative purposes and not indicative of any particular investment.  Investment value will fluctuate with market conditions.  Just another breathe easier® tip from your money guys at oXYGen Financial, Inc., 11680 Great Oaks Way, Suite 175, Alpharetta, GA 30022 – Call us for ...

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