Eric Tyson Quotes on People (6 Quotes)

The key to breaking the cycle for many people is to begin the process of questioning spending, and to not just continue to spend the way you historically have. If you're spending too much and saving too little, clearly you've got to change something.

A lot of people who get laid off from corporate jobs end up doing some freelance work, ... But people who are coming from a job with a paycheck are not knowledgeable about the expenses they can file on Schedule C. They should familiarize themselves with those deductions. If they have considerable self-employment income, they can set up a Keogh or SEP IRA to shelter some of the income from taxes.

People who've had the propensity to run up consumer debt often don't admit it's a problem. But your net worth -- the difference between your assets and liabilities -- is a key measure of your financial health. If it's getting worse over time, that's a problem.

However, people should do their homework before jumping in with both feet and selling one house to buy another in a completely different part of the country. Make sure you understand all of the pros and cons of places you're considering and that you're not simply falling in love with the concept of a better or easier life.

There's this idea that you won't get caught, because the vast majority of returns aren't audited. But be careful of people who claim they can get you thousands of dollars back. You never know when you'll be audited.

When preparing their 2001 return, there are some basic tax planning issues unemployed people don't often think of. People need to be mindful of what tax bracket they're in, which may...have changed.