Catherine Treffeisen Financial Coaching

Several years ago, someone shared with me the thought-provoking idea that there exist two distinct tax codes: one for the informed, and another for the uninformed. I believe this notion extends beyond taxes and into the realm of personal finance.

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In the calculation, you may observe that the cost basis is reduced by the value of the land. This is because land or lots do not wear out and hence cannot be subjected to depreciation. However, the IRS allows faster depreciation for certain improvements made to your rental property, which have a depreciation period of less than 27.5 years. For instance, appliances can be depreciated over five years, while improvements such as a road or fence have a 15-year depreciation period.

If you prefer, you can maintain a distinct depreciation schedule for each improvement, or you can include the value of items such as appliances or a new fence in your overall cost basis, which we will elaborate on in the following discussion.

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Looking for your next new home, investment property or ready to start a new chapter and sell your current home, give me a call!!

If you ever find yourself going through a tough financial season, remember to focus on taking care of your 4 Walls FIRST, and in this order.

Cover utilities before you pay your rent or mortgage. This is because in most cases, your lights or water risk being shut off before you'd be evicted.

During a storm, you've got to prioritize your expenses. Don't ever pay a debt before you buy food. Pause paying extra on debts and save money while you weather the storm. Once your income stabalizes, you can resume working the 7 Baby Steps.

Always remember - there's a light at the end of the tunnel, and you DO have what it takes to get to the other side of whatever situation you're facing.

If you're not already making a budget, get started with my team's FREE budgeting tool. It even does the math for you! - https://bit.ly/3AXqFUo

We are at Ramsey Solutions today!!! Feeling so grateful!!

6 Tips for Millennial Homebuyers Millennials take note: these six tips will help you become a happy homeowner.

Have questions, I can help you decide if you are ready to buy or sell your home.

catherine.treffeisen.coldwellbankerprime.com

Make a plan and stick to it. You've got the control!

Yep, don't start investing until AFTER you're out of debt. A lot of people disagree with me on this, but a lot of people are wrong.

Making progress with money takes FOCUS.

If you try to do too many things at once, you'll get nowhere fast. Focus on getting out of debt (except for your home, if you have a mortgage), then saving a fully funded emergency fund, and THEN it's time to invest. At that point, with no debt payments and the security of an emergency fund, you can really focus and make a TON of progress.

Spreading your investment among several companies with mutual funds helps you to avoid the risks that come with investing in single stocks.

I recommend spreading your investments evenly across these 4 mutual fund categories: Growth, Growth and Income, Aggressive Growth, and International.

This plan works! There are many ways to try and spin it but why mess with something that works.

Yep, don't start investing until AFTER you're out of debt. A lot of people disagree with me on this, but a lot of people are wrong.

Making progress with money takes FOCUS.

If you try to do too many things at once, you'll get nowhere fast. Focus on getting out of debt (except for your home, if you have a mortgage), then saving a fully funded emergency fund, and THEN it's time to invest. At that point, with no debt payments and the security of an emergency fund, you can really focus and make a TON of progress.

Spreading your investment among several companies with mutual funds helps you to avoid the risks that come with investing in single stocks.

I recommend spreading your investments evenly across these 4 mutual fund categories: Growth, Growth and Income, Aggressive Growth, and International.

It can be done folks. Your situation is not unique!!!! Let me know when you are ready to rid your life of a thief.....debt!

How are you doing with the "challenge"? If you have decided to take on the challenge of saving $1000 in the next 6 months (saving faster is great too), reach out and let me know. I want to be able to provide encouragement along the way.

Here's a quick tip to help cut some of the cost of cards. Everyone needs a card at some point. Check out the Dollar Tree. They have a great selection and they are only $1. They also have some that are 2 for $1. I stocked up on birthday cards that were 2 for $1. Take the extra money that you would have spent and pop it into that savings. Anything extra that you can save can go into the challenge and it doesn't matter how small the amount.

That's why they are called Baby Steps!

So if you have will power (you will need it to control your impulses at this store) this is an awesome off for a Costco Membership! I have found that Costco carries some of the best quality items from food to clothing. They have great seasonal items along with home goods, kitchen appliances and anything else you can think of. If you buy in bulk and have a vaccum sealer, which they carry, you can get great quality food. Check it out!

One-Year Costco Gold Star Membership Package with a $40 Costco Shop Card and $40 Off Online Order New Costco membership package gives access to an assortment of brand items like gas, groceries, and electronics

This is an awesome jump start to that $1000 financial fit challenge. Sign up today and see all the great information Dave has to offer.

It does NOT have to be that way.

Begin your FREE trial of Ramsey+ and kick-start your debt-free journey: https://bit.ly/2PbKtgt

Ramsey+ is an all-access membership to everything you need to help you WIN with money—all in one place. It includes our bestselling money tools, apps, content and resources to help you take control of your finances for good, and say "NEVER AGAIN" to money stress and money problems.

This is solid advice regarding life insurance.

I was listening today to a podcast talking about student loan debt. It is true that a lot of students incur large amounts of debts to obtain degrees and they may never end up working in that field. Its also true that many students/parents believe the marketing pitches of very expensive colleges that if they graduate with one of "their" degrees, the chances of getting a better job are increased.

The possibility of better job placement may be true in a limited percentage of college graduates. Any job posting you read does (more times than not) say that they require a degree. Sometimes it says in that particular field, sometimes it says in a related field and a lot of times it just doesn't specify. Never though do I see a posting that requires a degree that costs someone over a certain dollar amount. A degree is just that, a degree.

Maybe instead of racking uploads of student debt that is never forgivable, instead look for more cost-effective options. Starting in community colleges for the first few semesters, or getting a degree from a State school. Staying in-state instead of tacking on additional money (penalty) for being an out of state student.

And always, cash flowing as much if not all of a college education is always best. It might not be the most luxurious experience of a young person's life, but how much of normal everyday life is luxurious? Just some thoughts for the day.

Great time to read this book!

Dave Ramsey America's trusted voice on money.

Just finished another Financial Peace University lesson with a great group! If you want to start on your own path to financial peace, I have a new class starting on July 14th!

You can retire with dignity. But it won’t happen until you take control of your money. Join my virtual Financial Peace University class. Together, we can learn how to make a plan for the future. Visit fpu.com/1120707 to sign up for my class and start your 14-day free trial of Financial Peace. Class starts Tuesday, July 14, 2020.

What do you have when you don't have payments......MONEY!!

There is still time to get into tonights class! Just go to fpu.com/1118866 and register for your membership.

I just had a question that I think is a great one to share. Are my services confidential? ABSOLUTELY!! My coaching services begin with an agreement that includes my obligation of complete confidentiality. That commitment is indefinite.

Great question! Keep them coming!

No more money stress—ever! It’s possible when you know how to handle your finances. Join my virtual Financial Peace University class, and we’ll learn how to dump debt and build wealth. You won’t even have to leave home. And now, you can try Financial Peace free for 14 days! Visit fpu.com/1120707 to sign up and learn more. Class starts Tuesday, July 14, 2020.

CoVid 19 has touched us all…. who would have thought that we would have a global Pandemic in our lifetime? With all the negative and troubling issues that have affected us since the start of CoVid 19, what did you think when the effects of the Pandemic reached your house? Did you panic, did you lose a job, did you give up? I think now is the perfect time to face things that are trying to control us and take back that control. Make CoVid 19 your “NEVER AGAIN” moment.

Now is the time to stand up to life and make a plan. The first step is to create an emergency fund. Start with a goal of $1000. Now this won’t subsidize a job loss, but it will help when something like new brakes on the car or an unexpected medical bill pops up. It also gets you started on your way to making your money work for you. You can do it!!

If you are thinking that you have absolutely no way to save or have any questions at all about starting this baby emergency fund, please reach out to me. I want to help, and I want to answer your questions.

Have a question about debt and dumping it, I can help!

Student loans are a complicated business. They are hard to maneuver and easy to confuse. Student loan debt in the US is out of control. It is one of the few debts that are NEVER forgivable even in bankruptcy. Did you know that your Social Security check can be garnished to pay student loans?

Huge Changes Are Coming To Student Loan Servicing If you have student loans serviced by Nelnet, Great Lakes, Navient, or FedLoan Servicing, you may want to read this.

Are you ready to retire early? Are you ready to tell the credit card companies goodbye? If so, you have come to the right place. I am ready to help you sort thru your financial situation, put a plan in place, and show you how to change the future. This is not a joke, it will take work, sacrifice, and discipline. If you are sick and tired of feeling like you are always behind or if you feel like you make good money but can never seem to get ahead, I can help you to make a change. Reach out to me today.