- - Page 4 of 18 The Finance Gourmet

Plynk Reviews – Plynk Invest Scam Legit Worth It?

July 4, 2023February 25, 2023 by Finance Gourmet

Plynk is another investment app similar to Robinhood, Wealthfront, and Webull. In our Plynk reviews we take a look with a Plynk investment app review to determine is Plynk a scam, is Plynk legit, and is Plynk worth it. As of today, Plynk offers a $20 deposit bonus and a $22 matching bonus for up to $42 in bonus cash upon deposit of $22. Let’s take a deeper look at the Plynk investing app. What Is Plynk? What is Plynk anyway? Plynk is another entry into the so-called world of fintech, or financial technology. With most standard online brokers like Schwab and Fidelity already offering free stock trades, apps like Plynk need to diversify further than just being free. Plynk’s attempt at individuality is that Plynk allows free stock purchases, or fractional share purchases with as little as $1. Then, there is a self-guided tool called Plynk Explore that will suggest investments based on the questions you answer. Finally, Plynk claims to be the most user-friendly interface by, among other things, “eliminating jargon.” There is also a Learn Plynk section that appears to be a bunch of blog posts about investing concepts. How Does Plynk Work? Like other micro-invest apps …

Free ATM Fees

May 28, 2023February 3, 2023 by Finance Gourmet

If you are still paying ATM fees, it’s time to find a new bank. Too many customers have gotten used to paying ATM fees, but there is no reason for it. Good banks, credit unions, and financial institutions all have multiple options to use ATMs for free, including, in some cases, refunding ATM charges. Keep in mind this all applies to checking accounts or checking-linked accounts. Savings accounts and money market accounts have different rules and restrictions. After all, savings accounts are not designed for frequent fund access, that’s why they pay you higher interest rates. Check out my Digit reviews. High ATM Fees It used to always surprise me as a financial advisor in the Denver area how many people would proudly tell me about all of the hoops they jumped through to get a credit card with zero interest for six months, or how to get a fraction of a percentage higher interest rate on their savings account, only to later learn that they were shelling out for much worse charges like ATM fees. Sure, six months of free interest on a hefty credit card balance is probably worth more than $5 or $10, but getting that extra …

Achieving Financial Independence Is About More Than Money

January 23, 2023 by Finance Gourmet

Financial independence is a topic that has gained increasing attention in recent years. The ability to live life on your own terms, free from the constraints of financial stress and dependence on others, is something that many people strive for. Add that to an internet full of people living the financially independent dream, or at least pretending to, and the idea that being born rich isn’t the only path to financial independence and you have a sizable movement. But achieving financial independence is not just about having money, it’s about having the freedom to live life on your terms. How To Achieve Financial Independence Tl:dr – Live below your means. Invest the difference. Keep doing it until you are financially independent. The first step in achieving financial independence is to set clear financial goals. This means identifying what you want to achieve financially and creating a plan to get there. Setting financial goals is essential because it gives you something to work towards and helps you stay focused and motivated, not what everyone else is trying to accomplish. One key goal to consider when working towards financial independence is creating an emergency fund. An emergency fund is a savings account …

Help Your Child Build Credit with This One Trick

February 15, 2023January 21, 2023 by Finance Gourmet

Building credit is an important task for financially savvy adults. Unfortunately for most people when they turn 18, they start out with zero credit. Even worse, it can take years to build up good credit. Fortunately, you can help your child build credit with this one trick. Why Start Building Credit Early Although most of your credit score comes from other factors like how good your payment history is, one important factor in your credit is how old your credit history is. This age of credit factor starts when information starts getting put on your credit report. So, all other things being equal, an 18-year-old who signed up for their first credit card or loan last month will have much lower credit than an 18-year-old with the exact same credit card or loan, but with an account that is two or three years old. How To Build Credit for Your Child Getting a loan for a 13-year-old is probably irresponsible. However, there is a trick to build your child’s credit fast and easy. Add your child as an “authorized user” on one of your credit cards. The older the account, the better. Then, be 100% sure to make payments every …

How Long To Keep Tax Returns

February 15, 2023January 18, 2023 by Finance Gourmet

Tax Day is today. Hope you are ready! If you have already filed, there is one more piece of tax business you can attend to before you run off into your summer. Time to shred some old tax returns and documents. IRS Rule For How Long to Keep Taxes The general rule for how long you have to keep your tax returns and other tax records is three years. HOWEVER, this is the IRS we are talking about, so there are some exceptions, and sub-rules to the general rule. First, you need to know when to count from. The 3-year rule counts three years from the date you FILED them. So, if you filed early, you don’t technically have to wait until April 15 (I always do. Better safe than sorry.) On the other hand, if you filed late, whether with an extension or not, you need to keep them for three years from that date. Also, the IRS says you should keep your returns for two years after you paid the tax, so if you ended up paying late, or on some sort of payment plan, be sure to keep them for two years after that tax bill has been …

Is Amazon Stride Flex Worth It

January 16, 2023 by Finance Gourmet

Health Insurance through Amazon Stride Flex sounds tempting, but is Amazon’s Flex health insurance worth it? What Is Stride Amazon Flex Health Insurance? Amazon contracts with drivers from several different platforms. The most public way to drive for Amazon is via the company’s Amazon Flex program. Amazon Flex drivers select a block of time they want to work making deliveries for Amazon. Since drivers get to choose the time, manner, and place of their paid efforts, all Flex drivers are independent contractors, meaning they do not get access to Amazon’s health plan. Amazon Flex health insurance is offered through an Amazon corporate partner called Stride. How Can Amazon Offer Health Insurance to Its Flex Drivers? The Stride Amazon Flex health insurance for drivers is really an interface to your state’s health insurance website, or the federal Marketplace for health plans. Republicans have made it their mission to tear down and reduce these so-called Obamacare health insurance plans, so don’t get too excited. The Stride by Amazon Flex platform asks the same questions as any of the healthcare marketplaces. You name, your age, what doctors you want to use, what prescriptions you take and want coverage for, and what conditions you …

How To Maximize Gift Cards Value

December 28, 2022 by Finance Gourmet

You got a bunch of gift cards for Christmas, or a lot of gift cards for your birthday, and you are wondering, “How do I maximize the money from gift cards?” As always, I’m here for you. Maximize Money from Gift Cards Using smart, insider techniques to maximize your gift card value typically involves timing and patience. Selling gift cards for money is almost never the way to maximize how much money you get from gift cards. Selling Gift Cards for Cash If you want to convert gift cards to cash, you can always sell them. When selling gift cards, you should expect to get less than face value. How much less than face value depends on how valuable the gift cards you have are. You might think that gift cards to expensive stores are more valuable, but that isn’t usually the case. The most valuable gift cards to sell are those that can be used anywhere, by anyone. That makes a gift card to a local jewelry store much less valuable because there might not be that many of that brand jeweler around the country, and the only thing you can buy with it is jewelry. So, Walmart gift …

How To Choose 529 Investments

December 12, 2022November 17, 2022 by Finance Gourmet

If you don’t already have a 529 plan opened, you should start with the instructions for opening a 529 plan before worrying about which investments you use. Trust me, when I tell you, as a former financial planner, that the biggest drag on saving money for college isn’t choosing the wrong investments, it’s taking too long to get started. No amount of tax advantages will make that up. Most parents overestimate the amount of merit-based scholarships their child can get, and underestimate how much financial aid they may need in the form of loans. Whether you are using education savings accounts, a Coverdell IRA, or a 529 plan, you want to cover as many qualified higher education expenses as you can without loans. The amount you need will be more influenced by need than merit, which means if you have a higher income and higher assets, you are going to pay more. That is just the way the world works right now. The only thing you can really do is deduct all the qualified educational expenses you can from your taxes and pay the rest with tax-free money from 529 accounts and the like. At least then your qualified education …

Should I Pay My Student Loans or Wait for Student Loan Forgiveness in 2023?

November 15, 2022November 9, 2022 by Finance Gourmet

Update: The Biden administration has elected to erase $10,000 or $20,000 in student loan debt via executive order. The website to apply is already up, and the Republican lawsuits to stop it are already filed. If you have more than $10K or $20K, keep paying, although it will help a lot, it won’t erase all of your student debt. Updated Update: A federal judge blocked Biden’s student loan forgiveness program. I don’t understand the logic of the decision, but it isn’t up to me. The government has appealed, but for now, the form to register for student loan forgiveness has been taken down, and no forgiveness payments or updates have been made. During the 2020 Democratic Primary election, all the candidates threw their weight behind some form of student loan forgiveness. It isn’t hard to see why. Forgiving student loan debit is extremely popular, especially with those burdened by large student loan payments. Now that Biden has announced his partial student loan forgiveness program is it time to financially plan for student loan forgiveness? Let’s dive in and answer the question, should I pay off student loans or wait for forgiveness? The government posted a registration form for student loan …

What Is ACH?

August 17, 2023November 1, 2022 by Finance Gourmet

ACH stands for Automated Clearing House (ACH). It is governed by NACHA which issues rules and standards. If you can’t comply with Nacha, you can’t be part of the ACH network. What Is ACH Used For? ACH is a way to make payments to bank accounts regardless of which banks are involved. Many companies use ACH to deposit employee paychecks on a regular basis. Most people know this as direct deposit. Direct deposit, whether recurring, or one-time takes place via the ACH network. Consumers also use ACH to automatically pay bills or payments. In this case, the ACH takes money from the person’s account and deposits it in the company’s account. Although the viewpoint has changed, this is the same form of transaction. Using ACH this way is often known as automatic payment. Can ACH Be Used for One-Time Payments ACH can be used for one-time transactions. Many of these transactions originate on the internet. These transactions are referred to as WEB entries. Consumers may log in to financial institutions or bank accounts and make one-time payments or transfers. Examples include, paying some or all of the balance of a credit card account, making a mortgage payment manually, or even …