How to Budget for Unexpected Windfalls

By Alfred Edmond, Jr. Blackenterprise.com

You’ve finally hit the jackpot! Now what? Just as you should budget for emergencies, you can also be prepared for unexpected windfalls. We all know what it feels like to get hit with an unanticipated bill or expense. On the other hand, there are also times money falls into our hands unexpectedly: a big tax refund, a major cash gift from a relative, a stock that skyrockets in value, a run of luck at the casino, or even hitting the lottery. Having a plan for unexpected windfalls can be as important as anticipating surprise expenses. Just remember; debt first, savings second, and spending last.

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Here Are 4 Smart Ways to Use Your Tax Refund

By Ashley M Fox, Blackenterprise.com

Have you ever gotten a tax refund or lump sum of money, and months later felt like you had nothing to show for it? If this has happened to you, it’s OK to make mistakes. However, it is not OK to repeat them. Let’s leave those old financial habits in the year 2016, and let’s prepare our minds and bank accounts for 2017. You are a wealth builder, and as a disciplined wealth builder, you must have a plan in place for your tax refund. It’s about time we give your money a purpose. Here are some ways to use your upcoming tax refund wisely:

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Minority Neighborhoods Pay Higher Car Insurance Premiums Than White Areas With the Same Risk

by Julia Angwin, Jeff Larson, Lauren Kirchner and Surya Mattu, ProPublica

OTIS NASH WORKS SIX DAYS A WEEK AT TWO JOBS, as a security guard and a pest control technician, but still struggles to make the $190.69 monthly Geico car insurance payment for his 2012 Honda Civic LX. “I’m on the edge of homelessness,” said Nash, a 26-year-old Chicagoan who supports his wife and 7-year-old daughter. But “without a car, I can’t get to work, and then I can’t pay my rent.” Across town, Ryan Hedges has a similar insurance policy with Geico. Both drivers receive a good driver discount from the company.

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