Tim McMahon, Author at Optio Money

Teach Your Kids to Budget Money Effectively

Education / By Tim McMahon / 5 minutes of reading

Whether we like it or not, money plays a big part in our lives. While most people think financial wealth requires a lot of good luck, the reality is it’s all about the skills you have and how you use them. If you teach your children how to take care of themselves, why not teach them how to manage their finances as well? You might be thinking it’s too early to face them with the harshness of the real world. However, the sooner they learn, the better off they will be as adults, experts say. So, how exactly do you teach your kids to budget money effectively?

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A Beginner’s Guide to Investing: 4 Major Dos & Don’ts

Investing / By Tim McMahon / 5 minutes of reading

When first getting into investing, you might contemplate just jumping into the deep end—but, before you take that leap, there are some things you should consider. Investing can be a tricky subject, which for some can enhance that feeling of needing to get it over with and begin investing at

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Smart Finance Moves: Questions to Ask Yourself Before You Buy a New Car

Credit / By Tim McMahon / 3 minutes of reading

Buying a car is a life-changing decision. It affects both your current and future life. Therefore, you need to ensure that the decision you make is the right one. You do not want any regrets months or years later when certain aspects of your current life change. Therefore, you should have some key questions in mind that will help you make the best decision.

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Wealth Transfer: Estate Planning

Articles / By Tim McMahon / 3 minutes of reading

A will is a legal financial document that will allow you to distribute your assets to loved ones in the manner that you desire. Many people put off the task of making their will because it is a reminder of their own mortality and because it requires thoughtful, and sometimes difficult, decisions. However, if you take the first step, you will find that accomplishing this important task can be a gratifying experience. If you follow these tips, you will ensure that your will is ready to be signed and executed.

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5 Things to Consider When Managing Money in a Relationship

Money and Banking / By Tim McMahon / 5 minutes of reading

There are so many questions that need addressing when a couple decides to share their finances. Talking about this in advance is crucial because things can get ugly very quickly when money becomes involved. That is why we are going to analyze five things to consider when managing money in a relationship.

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Five Business Tips to Help Your Company Thrive

Business / By Tim McMahon / 3 minutes of reading

Obviously, as a business, you’re looking to generate as much profit as possible, which involves not only cash generation but ensuring that each dollar invested reaps several dollars more. Once you are consistently generating a reasonable profit, you will want to grow your market share, which will show that your company is thriving in the modern age of retail and commerce. But to get to this point of thriving, you first need to know how to survive: business, after all, is tricky and sometimes volatile. Here, you’ll discover five tips to help transform your business into a prosperous and beneficial enterprise for you and your customers.

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Have Minimal Car Insurance? What to Do in Case of an Accident

Insurance / By Tim McMahon / 3 minutes of reading

There are plenty of people who have the minimum amount of car insurance their state will allow. While it makes sense to choose to keep insurance costs down as much as possible, unfortunately, it also means that many people may not have enough coverage when they do get in accidents. If you find yourself in this situation, there are a few things you can do to reduce your costs.

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How to Choose a Residential Roofing Contractor

Real Estate / By Tim McMahon / 4 minutes of reading

Many homeowners can have a hard time when it comes to fixing or repairing their roofs, especially when it comes to choosing which residential roofing contractor to hire for the job. People can make the mistake of simply selecting the first one they see, and the results of such a decision can be disastrous.

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Avoid a Money Pit: 4 Vital Inspection Items before Buying an Older Home

Real Estate / By Tim McMahon / 3 minutes of reading

Purchasing an older home might seem quite appealing to you. You may love the historic charm, or perhaps you’re looking into purchasing a house from older relatives. These features can certainly allow you to live in a charming home. However, older houses can come with a number of problems, so make sure to inspect certain elements before making an offer. Otherwise, you might spend all of your money fixing the house.

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4 Hidden Car Costs

Articles / By Tim McMahon / 4 minutes of reading

Every driver understands that vehicle ownership involves more than initial purchase-related costs. That said, many drivers fail to take into account the costs related to every possible usage, emergency and maintenance scenario. As a result, they sometimes experience horrible debt because of these hidden car costs. Whether you’ve just bought your first vehicle or you’ve owned vehicles for many years, keep the following four hidden costs in mind when setting aside money for your vehicle budget:

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