Financial Margin

Financial Margin

By Jared HumphriesBusinessEducationInvestingCourses
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Financial Margin episodes

  • Taxes are filed, now what?
    Recalibrating post-tax filing is an aspect that is often overlooked. Making sure to adjust your contributions to retirement, especially if you have a company match or a Roth IRA you are not taking advantage of. Recalibrate your budget to factor in new priorities for this tax year.
    Jared created Millennial Margin out of necessity, as he has watched countless people schedule-away, mortgage-up, and max-out their lives. Margin is simply the antithesis, providing leeway in an increasingly margin-less culture.
    9 min
  • 10 Steps to organize your taxes (Steps 6-10)
    More than half the battle of filing your taxes comes down to getting organized and making sure that you and/or your tax professional has the information to ensure your taxes are filed accurately and on-time. There are so many options when it comes to organizing your finances for tax preparation purposes. The system of organizing your key documents, receipts, and notes are less important than ensuring that you have a system in-place. Going through the 10 steps to help you get organized going forward will provide you with a starting point for your taxes.
    6 min
  • 10 Steps to organize your taxes (Steps 1-5)
    More than half the battle of filing your taxes comes down to getting organized and making sure that you and/or your tax professional has the information to ensure your taxes are filed accurately and on-time. There are so many options when it comes to organizing your finances for tax preparation purposes. The system of organizing your key documents, receipts, and notes are less important than ensuring that you have a system in-place. Going through the 10 steps to help you get organized going forward will provide you with a starting point for your taxes.
    11 min
  • Income Tax Rates (Part 2)
    Looking at both the effective and marginal tax rates, you can then understand what your perspective tax looks like. Using examples of a typical household and how the tiered federal tax rate is applied as well as whether your state has a flat, tiered, or no income tax rate will be important in looking at the big picture. There are 7 states with no income tax, and 2 states with no income tax but that do have tax on dividend income and interest. Once reviewing the tax rates that will be applied, it will be important to consider what tax credits and deductions will reduce the actual tax you pay to both Federal and state.
    7 min
  • Income Tax Rates (Part 1)
    With tax season upon us it’s important to understand how Federal income tax rates work and how they affect your income. There are 5 filing statuses with 7 different tax rates within each ranging from 10% to 37%. Going through each of the tax brackets will help you identify how you are being taxed at the federal level.
    13 min
  • What are the three P's to find your provision?
    Going through a theme on income there are more than ¾ of Americans who dislike their jobs. So how do you ensure that you are not yet another statistic? Looking at three key components of passion, provision, and proficiency help to make sure what you do align. This process then helps you to figure out whether a change is in order and how soon, based on it hitting a one, two, or all of these parameters.
    9 min
  • Financial Snapshot: What else is important to review?
    The core Financial Snapshot has a total of six categories to evaluate, but this is not an all-encompassing list. There are additional aspects that you will want to move to once you have reviewed and shored-up the basics. These additional aspects to cover are credit, insurance, and your legacy.
    12 min
  • Financial Snapshot: How to calculate your overall score?
    The core Financial Snapshot has a total of six categories to evaluate. Now that we have reviewed all six of these categories, it will be important to know what to do with this information. Figuring out how you rate in each category will show you which one(s) that need the most focus. The six categories were the Plan to Spend or Budget, Income, Expense, Saving, Giving, and finally Retirement. Once you have an indicator on how you’re actually doing versus how you feel you are doing, you’ll be equipped with a starting point to focus in on.
    9 min
  • Financial Snapshot: How does your retirement score?
    The core Financial Snapshot has a total of six categories to evaluate. We reviewed what it would look like if you were to be consistent across all categories, but this scenario will not work for most of society. You may be further on in one category while lagging in another. In order to determine where you are at, looking at each category specifically based on your level of current proficiency will help reveal which needs the most focus. Knowing how you rate on the retirement savings side of the equation will be the next step of the process. This will then be the sixth and final step in the process. Retirement is arguably one of the most important aspects of the financial snapshot. It looks at how you will be able to provide for you and your spouse after you are no longer able to work or no longer want to work. It also prepares you to leave a legacy for your loved ones.
    6 min
  • Financial Snapshot: How does your giving score?
    The core Financial Snapshot has a total of six categories to evaluate. We reviewed what it would look like if you were to be consistent across all categories, but this scenario will not work for most of society. You may be further on in one category while lagging in another. In order to determine where you are at, looking at each category specifically based on your level of current proficiency will help reveal which needs the most focus. Building in a priority of shifting the focus from your needs and wants through giving is the next step. This will then be the fifth step in the process. Determining whether you give, how much you give, and to whom you give will allow you to align what or who is important to you with how you spend your resources.
    6 min

About Financial Margin

From the publisher's feed

Millennial Margin was formed to provide people with a unique approach to personal finance through the strategic building of Margin. Margin is the space outside the chaos and in a society that continues to push an agenda of a fast-paced, high stress, low satisfaction environment, Margin is ever-so-missing. So what's the solution? The solution is to focus on what adds the most value to you specifically, not wanting what others have just for the sake of wanting what others have. Instead finding contentment in simplifying life through a process I call audit, automate, augment. This allows you to see what you specifically want, where you are and where you want to be, backing that out into actionable steps. Those steps are then automated and scaled. Personal finance is well personal, so Margin focuses on building momentum through monthly themes broken down into weekly series and further into daily episodes focusing on you. Allowing for a positive compound effect to set in allowing you to truly gain control of your personal finances therefore, building intentional Margin into life. I am thankful to be a part of your journey and hope that you find this resource transformational. Now let's build some Margin!!