A 401(k) is a type of retirement plan an employee enters into through his or her employer. As one of a few defined contribution plans, a 401(k) relies on a certain amount to be contributed yearly, with taxes and penalties applicable in the case of early withdrawal.

There are different types of 401(k) plans available depending on the particular employer. In most popular plans the employer agrees to match employee contributions, which will double the amount of money invested each year. Other 401(k)s do not come with an employer contribution, but the advantage is still there because funds going into the 401k are contributed before taxes come out of an employee paycheck, lowering the taxed amount. Read the rest of this entry »

It has never been cheaper to get car insurance. There are all levels of car insurance that can now be had for up to 80% off what has been traditionally quoted. This is through buying minimal car insurance that covers your liability in case of an accident. Full coverage quotes are also cheap if you find them online. You can get quotes almost immediately online with just a bit of information, such as your age, location, and car model. This is great personal finance advice to help you keep your monthly expenses down. In a down economy, it is essential that you do all you can to reduce your everyday expenses. You can have an extra $100 or more per month in your pocket by finding better car insurance. Read the rest of this entry »

When you consider donating your car, the best bet is to check with car donation sources online. Organizations that will accept your car donation should give you two things. First, the exact amount you will get for donating your car and how they will be coming to pick up your car. This will guarantee that you know exactly what you are going to get and how you are going to get it. Second, you must find out what the funds from your car are going to go towards. Any car donation center will arrange tax or payment paperwork for you, so your tax deduction will be easy to file for at the end of the year. Make sure that the donations are actually going toward a charity. Some car donation firms only give a small portion of funds to charities. Your car donation can go to support almost any charity, from cancer research to church groups to third world development. Read the rest of this entry »