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Saving Money

Moving from Employed to Self Employed, What Am I Forgetting?

being self employed

I have owned my business for the past 10+ years, which makes me essentially self employed (and about half crazy )  However, I have been a w-2 employee as far as salary and witholdings. I walked into an established business that had employees who did most of the book work. Deposits went through the corporation, and expenses were paid before I saw a dime.  At the end of the year I will be selling my business that has provided a huge safety net for the last decade. I will be my own corporation without  a book keeper to figure things out for me unless I want to spend the extra money to hire one. I’m hoping my experience is enough to make the right financial decisions to avoid any huge mistakes. This is my list for going from employed to self employed. Am I forgetting anything? Salary On paper my income should be higher than the salary I have been paying myself. I have three jobs lined up. One with the government, one as employee for the new buyer of my business, and one with another optometry office. At my old office, I will still be a w-2 employee, but the other two jobs are ...

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Can You Avoid Spending Money on School Fundraisers?

We are about two months into the school year with our five year old. Kindergarten teachers are surely a special group. Two weeks ago,  I was able to attend the homecoming parade and help chaperone the kids. It’s really tough to take twenty four 5-6 year olds out to the parade and keep them from running out in the road while people are throwing candy at them. Teachers certainly don’t get paid enough! For all the wonders of kindergarten, I was not prepared for the onslaught of fundraisers that seem to come home each week. So far, we have had school sweatshirts and water bottles for sale, book fair, and the latest one, Little Caesars pizza kits and cookie dough for sale. Next week we have school pictures, which aren’t to raise money for the school, but I bet they aren’t free. Is there a way you can avoid spending money on school fundraisers? My honest answer is that I don’t know. I could boycott all things that cost money and be viewed as the villian parent whose child didn’t sell any pizza kits. I really hate that schools have to resort to asking kids to peddle overpriced dough to buy supplies and go on field trips, but that’s a whole ...

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A Valedictorian’s Advice On How to Raise a Scholarship Kid

What is the dream of every parent? I would imagine that it would be something to the effect of making sure your children become honest, productive members of society. Aside from that, wouldn’t it be wonderful if your kid went to college with a scholarship? Not every child will or should attend college, but if you want yours to have the best possible opportunity to go to college on a scholarship, you have to start early. I am not one to brag about myself, but after reading Do You Flaunt It? on My Money Design, I thought, why not? I am not very musical, terribly creative, or athletically gifted, but I always did well in school. When I was a freshman in high school, I decided I would be valedictorian and get a scholarship for college, and that’s what I did. My parents started grooming my sister and me for college since before we can remember. College was like 13th grade, and we never considered not going. Both Sis and I now hold doctorate degrees, and I thank my Mom and Dad for being tough on us. As a mother, I hope to do the same with my daughter. Here are some steps you might consider if ...

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Fun, Fabulous, Free Things To Do in My Favorite Vacation Cities

  When you look at needs versus wants, travel probably fits into the latter category. You won’t starve, freeze to death, or stop breathing if you can’t take a vacation. I do believe it is important to see the world in whatever capacity is possible for your situation. I always need to have some sort of trip planned, even if it is only a camping trip a couple of hours away. It makes the hectic and often motonous routine of daily life more fun knowing a break is in sight. Transportation and lodging cost money in most cases, but you can find tons of free things to do in some great cities. While I am no world class traveler, these are some fun, fabulous, free things to do in my favorite vacation cities. San Diego We’ve been to San Diego several times. It is within a day’s drive from where we live, and has great beaches, which are always free. Some of my favorites in the area include: La Jolla Shores-This is an amazing area with ocean cliffs, a swim beach, and the harbor seals. If you’ve never seen a seal that wasn’t in the zoo or at Sea World, this is a must for ...

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