Home > Author Archives: Kayla Sloan (page 10)

Author Archives: Kayla Sloan

Kayla is a mid-20s single girl living in the Midwest, USA. She is focused on paying off her consumer and student loans, while simplifying her life and closet. You can join her on her journey at ShoeaholicNoMore or follow her on Twitter.

How to Wrap up Your Tax Season

This post was sponsored by #BlockAdvisors. All opinions are our own. As the close of the 2015 tax season rapidly approaches, it is not the time to sit back and do nothing until next year. There are plenty of tasks you can start on to make next year’s tax season flow even smoother. Here are some ideas of how to wrap up your tax season and get a jump on next year. 1 Work with Your Tax Preparer Maintain a good relationship all year long with the person who prepares your taxes, like the tax professionals at BlockAdvisors. Your tax preparer should know your history well enough to contact you early in the year if there are going to be changes that could affect how you conduct your business the rest of the year, or after completing your tax return from the prior year. Don’t wait until next year to find out new tax laws mean you will owe money to the IRS when you counted on a refund, for example. By knowing in advance, you could set aside money in preparation to pay in. If your accountant or tax professional hasn’t let you know of the current changes, be ...

Read More »

What to do if You Overspend Your Budget

overspend your budget

When April started off, I had a good feeling about it. You see, March was expensive for me. I had a lot of extra business expenses, like investing in a new Macbook Pro, and expanding my team so I don’t have to work as much. But I also increased my income significantly. After that expensive month, my plan was to buckle down in April and pay off one of my credit cards in full by the end of the month, but now I’m not so sure that it’ll happen because I’ve definitely overspent my budget this month. Going over budget is something that happens to all of us from time to time. While going over budget isn’t good, at least you are looking for solutions to get back on track. Here are some things I’m doing now that I know I’m already over budget this month, and they are strategies you can use too if and when you overspend your budget. Evaluate Your Current Budget Take a deep breath and remain calm. Look at your budget to figure out exactly which categories you overspent in and why. For example, did you over spend on your entertainment budget? Maybe you are too ...

Read More »

Renting vs Buying: The Financial Benefits of Each

renting vs buying

For years I was firmly planted on the side of thinking that buying was always better than renting. However after nearly four years as a homeowner, I’ve begun to question this line of thinking, especially now that I have the freedom to live anywhere I choose because I’m self employed and my business is entirely based online. However, there are financial benefits to both renting and buying that must be taken into consideration before you, or I, decide if renting or buying is best. Here are some financial benefits of both renting and buying a home. Length of Time The length of time you plan to live in a home or apartment should play into this decision. If you are only planning to live in the same home for a few years, it would probably be better for you to rent rather than buy a home. The financial cost of moving as well as closing costs, realtor fees, etc. need to be spread out over several years to make it worth purchasing a home. Compare the Payments When you compare the monthly rent payment you currently make to the mortgage payment you would be making on a home, don’t forgot there’s ...

Read More »

5 Tips for a Successful Salary Negotiation

salary negotiation

One of my favorite things to discuss is finding ways to earn extra money. Commonly I suggest people get a part-time job, or start a side hustle as a freelancer or by using another skill or hobby to make some extra money alongside a full-time job. But sometimes the best way to earn more money is by asking for a raise. If you want to increase your salary at your current one, salary negotiation is a dance you must either already know the steps of, or learn quickly in order to be successful. There are several factors that contribute to the salary of any job, and not all of them can be controlled by you, the employee.  Certainly your professional experience and level of education are key contributors to the amount of money you take home each pay period. But the area of the country you live in as well as the size of your employer can also affect your salary negotiation tactics, along with the current success of both your employer and yourself. Fortunately, there are some things you can do to make your salary negotiation appointment be more likely to work in your favor. Here are 5 tips ...

Read More »

Financial Pros and Cons of Small Town Living

Like Kim, I too live in a small town. A few years ago she discussed some of the reasons why she and her family live in a small town, as well as some of the downsides of small town living. Honestly, I think it’s my favorite post of all time from Eyes on the Dollar because I knew exactly what she was talking about in her post. You see, I live in a small town of 7,000 and although I’ve thought about moving at different times over the past few months since I quit my job to pursue self employment, there are a lot of reasons that I keep coming back to small town living as the best option for me. Of course not all of the aspects of small town living vs big city living have to do with finances, but many of them do. If you have ever found yourself contemplating moving to a small town to get away from the big city, or vice versa, check out these financial pros and cons of small town living. Financial Pros of Small Town Living Small town living saves time. One of my favorite things about small town living is ...

Read More »