Your Money Matters Archive

Get That Revolving Balance Below 50 Percent

There’s a good chance the people you’re helping to buy a home will have a limited understanding of their credit score and whether they need to do anything with it before they enter the market. To help you advise...
September 10, 2014

How Much Retirement Are Your Commissions Buying?

From a safety standpoint, it makes sense to set aside a percentage of your commissions in a reserve account. That way you can cover your obligations come tax time and have back-up money for when business is slow. And...
June 10, 2014

For Your Retirement, Try Dollar Cost Averaging

Since you’re an independent contractor and have to manage your retirement on your own, you might consider taking an investment approach that goes by the name Dollar Cost Averaging. This term simply means you go into the investment market...

Success in Real Estate and the ‘Latte Factor’

If you buy yourself a latte every morning on the way to the office or when you head off to show a client a house, prepare to say goodbye to a good $1,000 a year in your hard-earned commission...
March 5, 2014

Happy Closing. Now Set Aside Half of Your Commissions

It’s not what you want to hear, but Victoria Gillespie of REALTORS® Federal Credit Union, a division of Northwest Federal Credit Union, recommends you put away half of each commission check for taxes and a short-term reserve account. In...
December 2, 2013

Surprised at Tax Time? Welcome, Friend

It seems like a no-brainer to deduct your home-office expenses at tax time, but how big of a deduction do you take? Victoria Gillespie, national director of business development for REALTORS® Federal Credit Union, a Division of Northwest Federal...