Money Wisdom & Musings

For many Americans who earn a livable wage, their financial struggles may be because they haven’t yet developed good money habits or discarded negative ones. Creating subconscious positive financial habits can be the difference between accumulating debt versus staying debt-free, and it can be the difference between going under when facing an unexpected expense versus staying afloat. 

To our clients based in Maine, did you know that you may be eligible for a tax extension? Due to the flooding that began on January 9th, 2024, the IRS has announced tax relief for individuals and businesses in select Maine counties. 

Inflation has been hitting us all hard lately, making it tough to stretch those dollars. While the annual inflation rate appears to be headed in the right direction, it could still take some time before it reaches its target. 

Your credit score is one of the most important tools that you have in your financial toolbox. Having a high credit score shows creditors that you have a history of paying off debt on time. This makes you more reliable in their eyes, and they’ll be more likely to lend to you. 

March is Certified B Corporation™ month, celebrated internationally. Currently there are just over 8,000 B Corps™ around the world spanning 162 industries and 96 countries. Certified B Corporations are leaders in the global movement for an inclusive, equitable, and regenerative economy. 

The recent news that the budgeting website and app, Mint, will be shut down has caused many people to panic. Mint, by Intuit, has been utilized by millions of people over the last decade, and its closure will disrupt the detailed budget tracking that its users have grown accustomed to and now rely on. 

Election Day is coming up on Tuesday, November 7^th, 2023. While many of us are quite busy as we head into the holiday season, we encourage everyone to take the time to vote on election day. 

The Maine Legislature reconvened late last month and voted to repeal the ‘Property Tax Stabilization for Senior Citizens’ was enacted in August of 2022. This repeal is effective October 11^th, meaning that after this date the state will not accept any payments that include ME state property tax freeze legislation from 2022. Any taxpayer whose application was submitted prior to December 1, 2022, and approved, will still receive the “freeze” on their 2023 property tax bill through October 11th. Since the program has ended, there will be no re-application process. 

As many recent graduates are aware, the forbearance period for student loan payments will be ending this summer after three years. As the pause on loan payments and interest accrual comes to a close and it’s essential to understand the implications and explore ways to prepare.

For many years, savings account yields were close to zero. There were virtually no options to make a return on your money if you wanted liquidity and safety. With interest rates rising, you can now earn a substantial yield.