Financial Disaster Checklist checklistIn case you need to evacuate this hurricane season or prepare for any disaster, here is a list of documents you should bring with you.  This checklist includes key financial documents such as tax returns, titles, deeds, insurance policies, and other essential items.  Also, keep in mind the list also includes non-financial items such as resumes, licenses, transcripts and other items just in case you need to search for a job or transition to a new location. [Read more…]

Sound advice doesn’t pay for college!


Check out Kemberley on Fox 8 News discussing ways to save for college! Click image above!

If you were fortunate, your parents wrote a big healthy check toward your college expenses and provided you with sound advice during your time in college.  However, if you were not so lucky, you may have been dropped off to college with only sound advice!  And we all know, sound advice doesn’t pay for college!
But know, you can change the cycle.  Whether you are a parent, expecting or just merely dreaming of your future offspring, it is no greater time than now to begin investing in your children’s future.  There are many steps you can take toward saving for your children’s education.  Now more than ever, it is important to take advantage of tax-advantaged accounts that may be available to you.  Consider these education saving vehicles:
Section 529 Plan
A section 529 plan allows earnings to grow tax deferred and distributions for the purpose of paying education are tax-free.  States and eligible institutions provide 529 plans.  A 529 plan could be either a prepaid or a contribution plan.

The key advantages of the 529 plan, the earnings grow tax-free and the contributor may be eligible for a state deduction.  Also, say for instance, Junior decides to follow his dreams and become an NBA player, all isn’t lost! You can request to change the beneficiary to another child.   Keep in mind, as long as expenses are utilized for qualified education expenses you are not taxed, however funds utilized for other reasons may be subject to penalties.

Louisiana has a great 529 plan that not only allows for state deductions but also matches your contributions.

Coverdell ESAs
A Coverdell Education Savings Account (ESA) provides another option to save for college. An individual is able to contribute $2,000 (2014) per individual towards college funding.  Although the contributions are not tax deductible, just as 529 plans, earnings grow tax free if used toward educational purposes.

The key advantage of Coverdell ESAs are the account could be used for elementary and secondary education.

Even if you save a small amount, stash something away consistently to pay toward the cost of college for your loved ones or yourself.  You will be amazed how this money can really add up!

Remember: your choice, your future!

Kemberley Washington is a certified public accountant and a business professor at Dillard University. She is the author of The Ten Commandments to a Financial Healing.

Follow her on Twitter or connect with her on Facebook.

My secret to saving cash

6736142729One of the financial issues I struggled with early on was simply saving money.  Every single time I would dedicate some cash to saving, I would find myself dipping into my savings.  So, I realize that in order to conquer this struggle, I had to do something different.   Just like the old saying goes, “If you keep doing the same thing, you are bound to get the same results!”  So, I decided it was time for a change.

Be diligent and you will profit

One of my favorite scriptures is Proverbs 21:5, which reminds us diligence will lead to profit, however if you are hasty it is certain to lead to poverty.  So one of the ways I conquered my lack of savings was to incorporate savings bonds in my regimen.

Of course, savings bonds will not get you rich at all!  But this isn’t its purpose.  Savings bonds should be used for building cash reserves.  And that is exactly what it did for me.  I diligently saved a little from each paycheck and in the end was able to profit.  Since I wasn’t able to withdraw the money until a year later it FORCED me to save, and I needed the FORCE!  Keep in mind, if you may need the money before then, think of other clever ways that will force you to save.

When a little becomes a lot

I love the saying you can only chew an elephant a bite at a time!  Well this is also true with your saving goals.  You don’t have to commit to hundreds or thousands per paycheck, but be consistent and commit a set amount each time.  Simply saving $50 per month would yield $600 per year.  No matter what amount you save, keep at it, don’t touch it, and act like it doesn’t exist!

Can’t touch this

Lastly, one of the ways that has helped me in the past with savings is simply acting as if it doesn’t exist.  After I have set aside money toward my savings fund, I simply forget about. I save first and whatever cash I have remaining is the only cash I utilize for spending.  This way, when I run out – I simply run out. And more importantly, my savings is still left in tack!

Take the savings challenge!  Commit this month to save a little bit more!  Drop us a line and tell us what you are doing to save more money for the month of June at

Remember: your choice, your future!

Kemberley Washington is a CPA and professor at Dillard University.  Follow her on Twitter @kemwashcpa.


Want to be a millionaire? Take care of a $1,000 first!


Throughout life, God will bless you with an infinite amount of resources.  You will be blessed with only so much time, assets and talents.  With each blessing God has given you, He expects you to be a good steward of what He has blessed you with.

Faithfulness creates fruitfulness

How can you ask God to bless you with millions if you can’t take care of a thousand? Real financial healing takes place when you learn how to take care of the little that God has blessed you with already.  Think about it, how can you desire a 3,000 square foot home, but fail to take care of your small apartment? If you want to really see blessings in your life, you have to learn to take care of small matters first!

Learn to live off less

Take time to commit to live off less than what you earn. No matter if you are earning $20,000 or $200,000, if you are not careful about your spending habits, then you may find yourself having more month than money. After creating and reviewing your budget, look for creative ways to live off less of your earned income.

Consider your savings off limits

From day to day, you will be faced with making decisions whether you should save or spend.  Because of this, you have to really stay committed to your budget and more importantly consider your savings off limits. Of course, there may be times when you have to dip into your savings, but consider your savings off limits unless there is a dire need.

Remember, you never know where this life may take you. Saving consistently will help you weather adverse financial events that may come your way.

Remember: your choice, your future!

Kemberley Washington is a professor at Dillard University and a certified public accountant (CPA).  She writes a personal finance blog at Follow her Twitter or connect with her on FaceBook.


Savings bonds aren’t just for your grandma!

4612042238Many people may shrug when they hear the words savings bonds. Because of their low interest they are often dubbed as gifts that are mostly for the naive investor.

But just like anything, savings bonds have its place in the financial world.  If you are looking for a way to stash some cash or save for a rainy day, savings bonds may be the way to go.

Types of savings bonds

Savings bonds are sold as “EE” or “I” Bonds. “EE” Bonds are sold at their face value.  They pay a fixed interest throughout the duration of the bond. “I” Bonds operate a little bit differently.  They are sold at their face value and pay a fixed interest rate and an additional rate based on inflation. Both bonds are sold in increments.

The good, bad, and ugly

While savings bonds are considered a safe way to park your cash, it does come with a few disadvantages.  Savings bonds purchased cannot be redeemed until a year after purchase.  In addition, if cashed prior to five years, you will lose three months of earned interest. While the interest is taxable for federal purposes, it is not taxable to the state. Additionally, because it is equivalent to cash, it pays very little interest.

All isn’t lost

Although savings bonds will not make you rich, they can help you park your cash.   Savings bonds are a great tool to use to reach short-term savings goals.  In addition, they may be an option to consider when building an emergency fund since they pay a little more interest than a traditional savings account.


Remember: your choice, your future!