Household Budget
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Budgeting
What Is the Average Grocery Bill for a Family of 4?
In short, the average grocery bill for a family of 4 is difficult to pin down for several reasons. Households spend the most on meats, vegetables, and fruits. Snacks, canned products, and breakfast food are the least expensive grocery items.
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Budgeting
How to Discuss Finances with Your Partner Peacefully
It’s no secret that communication is the key ingredient to a healthy, long-lasting relationship. But navigating difficult conversations with your partner is no mean feat. This is especially true when it comes to discussing topics that don’t come naturally, like money. According to Business Insider, the most common fights that couples have are surprisingly not about infidelity or jealous matters,…
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Budgeting
Should You File Jointly or Separately?
Most married couples file their taxes jointly. This approach enables them to combine their income and utilize larger deductions or tax credits. For instance, the married filing separately child tax credit is much more limited in comparison to a joint return. Above all else, when you decide whether to file jointly or separately, it is important to keep in mind…
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Budgeting
Part Three: Preparing for Inflation-Adjusted Premiums
In January, your tax credits and average health insurance cost, per month, are going to change. Whether it’s a private plan, an employer-sponsored one, or Medicare, all consumers’ income brackets are going to be adjusted for inflation. In short, if your household earnings go up, your premiums might not because of the higher income brackets. Moreover, consumers may even qualify…
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Budgeting
Trade and Your Wallet
During the last few years, international trade took center stage. Today, it is even more important to analysts, media pundits, investors, and other economic players. Above all else, issues related to the China tariffs list, the potential USMCA trade agreement, and Brexit have a direct impact on household budgets. To clarify, volatile trade relations translate to unstable food, energy, and…
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Budgeting
How to Catch Up When You’re Falling Behind on Your Bills
We’ve all been there – too many bills to pay and not enough time. It feels as sudden as running into a brick wall. Unfortunately, the longer you take to pay back your bills, the more that will accumulate – and the deeper of a debt hole you’ll fall into. With careful planning, you can quickly catch up on all…
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Budgeting
Efficient Tax Planning: How and When You Should Do It
Two years ago, the Republican-controlled United States Congress passed the Tax Cuts and Jobs Act. The law, which President Donald Trump signed into effect, made filing taxes easier and simpler. Even more so when we consider the already existing online tax-preparation software, alongside some handy IRS customer service features. The picture, however, isn’t as rosy as it looks. In 2019,…
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