Money Wisdom & Musings

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.

For many folks, early to mid-April can bring up feelings of stress or worry as the Federal tax deadline approaches. Now that we are past the April 18, 2023 deadline we thought it would be helpful to outline some next steps that individuals can take to ensure they are prepared for applicable next steps.

Why is that spring feels like such a perfect time of year to tackle messes and get organized? Cultures all over the world have practiced the tradition of spring cleaning for centuries.

Our passion here at Cornerstone is helping our clients plan their financial future. One key component to discuss is long-term care. It’s easy enough to keep putting the discussion off for “another time”, but as with so many other things, the sooner you start, the more manageable the task is.

With the holidays fast approaching, last minute gift-buying is top of mind for many! Cornerstone strives to shop locally and sustainably, when possible, and encourage you to do the same. Portland and Portsmouth offer many unique and hand-crafted gifts that would please anyone on your holiday list.