Monthly Archives: November 2016

Do You Manage Your Money?

DiSalvo CPA, Melbourne, Vero Beach, SebastianAs I was looking for some ideas for just what to post about this month, I came across several different sites that wrote about people’s spending habits. I already posted a blog for self employed people looking to purchase a home, so I decided to post about the kind of home that might help to save money.

If you watch the Home Improvement Networks, HGTV, DIY Network, those tiny houses are all the rage. While I, myself, would succumb to a bad case of claustrophobia if I had to squeeze myself into 200 square feet, I did get to thinking about something. When I was a child, we did not have great big homes, We had big yards, but the homes were not all that large in square footage. These days people who aren’t squeezing into a tiny house are apt to spread out into a large house. I don’t see anything wrong with that, but if it’s your mission to enjoy life, live in a nice home, and still have disposable income to save for retirement and a little fun, then maybe smaller is better than bigger.

A newer, block home is very energy efficient, and heating and cooling an 1900 square foot single level home with energy efficient windows, insulation and a brand new energy efficient heating and cooling system, will cost you less to purchase, less to insure, and your utility bills should be significantly lower.

Buy less stuff. So many of us end up with way more stuff than we need. So curb the impulse buys, and before you head out to shop, check your closet first. Look and see which of the clothing you currently have is still good, get rid of the stuff you don’t wear, then look for new items that will coordinate with what you already have.  That way, your mounting clutter won’t make you feel like your home is too small. A couple of times per year, pretending like you’re preparing for a move, and clear out anything you don’t use regularly.

Shop the sales, but only shop for things you actually need. You notice I wrote need, not want. Nobody needs 10 pairs of black heels, or 10 pairs of limited edition kicks. Save that money instead. that way when emergencies arise you have the cash to deal with them, and you won’t have to use credit.

Make certain your home looks nice, and well kept, but don’t get into extensive remodel projects just to have the latest and greatest.

Finally, always pay yourself. If there is disposable money, put some of it in the bank before you go on a splurge. Use some of that disposable income to pay a little extra on your mortgage each month. You would be surprised how quickly that can add up, and the more you pay down your mortgage, the quicker you can live mortgage free!!

Pete DiSalvo

Vero Beach Certified Public Accountant

CPA – DiSalvo Logo

Have You Run Your Credit Report Lately?

Forensic accounting, bokkeeping, CPA, tax preparation, business planning

With all of the  computer hacking and other  scams  are around these days, it’s more important than ever to run a credit report at least once a year.  The major credit reporting agencies are required to allow you to run a free credit report which also does NOT impact your FICO  score. Before the end of the year, please, go and take a moment to run this free report. It’s also a good idea to check and see if your credit card company has provisions for checking your credit score. I know that Citibank has that feature on it’s website.

Why do you care about your credit and your credit score? You may not know this, but all manner of companies check your FICO Score.

  1. Utility Companies
  2. Insurance Companies  both Home and Auto
  3. Potential Employers
  4. Credit Card Companies
  5. Investment Companies
  6. Mortgage Lenders
  7. Landlords

As you begin your Investment planing for 2017, or if you may be thinking about purchasing a home, or a new automobile, it’s always best to know where you stand BEFORE you begin the search. That way you can clean up any errors should you find some. Also, be very careful about checking your credit card statements each month. Some of my clients have found small, regular charges on their statements which were NOT initiated by them. The sooner you catch this type of thing, the easier time you have getting those charges removed and preventing further charges on your card.

DiSalvo CPA

Vero Beach Certified Public Accountant

CPA – DiSalvo Logo





Self Employment and Home Purchase

moving up to a lrager home, accoutant who plans for home purchases, home purchase qualification, tax preparationNow that the bank statement loans have gone by the wayside because they were abused by some people in the Mortgage Industry, what is the self employed person to do when they want to purchase a home? Continue reading