Monday Morning Money Minute

Posted by Mark Matney of Holcomb Law, PC Newport News, VA
www.matneylawpllc.com
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Monday Morning Money Minute

Caveat emptor – Let the Buyer Beware, Part 2. The second way to avoid debt for a major purchase is to negotiate and look for a deal. Some suggestions: Stores run specials for every major holiday, so wait for the sales. Use the internet to search prices and make stores honor their promotions to “match or beat any competitor’s price.” Ask about open box or floor model discounts. Take cash - show that you are ready to buy but also ready to pass if the deal is not right. Ask for extras, such as free installation, upgrades, or warranties.

One example: After negotiating for an extended period of time for the purchase of a van, the dealer still did not meet our number, so we left. The same sales rep was working at a different location we visited and, knowing we would walk away if we did not get the deal we wanted, he arranged a better price and a longer warranty so he could close the sale.

February 7, 2022

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Monday Morning Money Minute

Posted by Mark Matney of Holcomb Law, PC Newport News, VA
www.matneylawpllc.com
__________________________________

Monday Morning Money Minute

Baby Step 6 – Pay off your mortgage early! As Dave Ramsey teaches, “100% of foreclosures occur on a home with a mortgage.” The more you add to your mortgage payment and the earlier in the loan you pay it, the less interest you will pay and the earlier you will be free from your mortgage.

Let’s look at an example: If a couple buys a $150,000 condo with a $120,000 thirty-year mortgage at 4.5%, then the payment for principal and interest would be $608.02 per month. If they make the minimum payment throughout the loan, they will pay a total of $98,888 in interest at the end of the 30 years. However, if they makes one extra payment per year, then they will pay off the loan in 25 years and 9 months and pay only $82,870 in interest. Even better, if they pay an extra $100 per month with each payment, then they will pay off the mortgage in 22 years and 6 months and only spend $70,944 for interest. Wow!

January 10, 2022

Monday Morning Money Minute

Posted by Mark Matney of Holcomb Law, PC Newport News, VA
www.matneylawpllc.com
__________________________________

Monday Morning Money Minute

Baby Step 5 – College Savings, Part Two. 529 Plan or Education Savings Account (ESA). I am using Paul Hogan’s pros and cons tonight for a quick overview. 529 Plans: No age limit for using the money, Only for college expenses, No income restrictions, Annual contributions limited to $14,000, Withdrawals tax free when used for college expenses, Non-qualified withdrawals taxed, Fewer investment options than ESA. ESA: Must use the money by age 30, Can be used for primary and secondary education in addition to college expenses, Income restrictions apply, Annual contributions limited to $2,000 per year, Tax free withdrawals for education expenses, Non-qualified withdrawals taxed, Can invest in individual stocks, bonds or mutual funds.

December 20, 2021

Monday Morning Money Minute

Posted by Mark Matney of Holcomb Law, PC Newport News, VA
www.matneylawpllc.com
__________________________________

Monday Morning Money Minute

Investing Part Two. Timing the stock market is tricky. It is very hard to predict shifts in the market and to determine the high or the low of a cycle. The remedy is dollar cost averaging. By investing a consistent amount on a monthly basis, you buy more shares when the market is low and fewer shares when the market is high. Over time you will obtain more shares at a lower average price per share than if you just make one large purchase. There are no guarantees when investing in the stock market, but there are strategies that permit you to maximize your returns while minimizing your risks.

December 6, 2021

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Monday Morning Money Minute

Posted by Mark Matney of Holcomb Law, PC Newport News, VA
www.matneylawpllc.com
__________________________________

Monday Morning Money Minute

Moving on to financial baby step #3: Expand your initial emergency fund until it covers 3-6 months of expenses. Note the focus is covering your expenses, not necessarily covering your monthly income. Use your budget to determine what it would take to pay all monthly bills for 3-6 months. This would certainly prepare you for a major expense. The focus, though, is to protect against more serious setbacks, such as illness or job loss. This money is designed as savings instead of investment, so it belongs in a money market account instead of the stock market.

November 22, 2021

Monday Morning Money Minute

Posted by Mark Matney of Holcomb Law, PC Newport News, VA
www.matneylawpllc.com
__________________________________

Monday Morning Money Minute

Today we move from Baby Step 1, setting up an emergency fund, to Baby Step 2: Pay off all non-mortgage debt as fast as possible. One of the fastest ways to do this is to pay off the smallest debt and then add the money you were paying to the next smallest debt. This is often referred to as the debt snowball. If you continue this process, then you will have more and more money going to the successive debts. I also use software that factors in interest rates and minimum payments and would be glad to share that with you. Dave Ramsey teaches that getting out of debt should be done with gazelle intensity. “Free yourself, like a gazelle from the hand of the hunter, like a bird from the snare of the fowler” (Proverbs 4:6).

November 15, 2021

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Mark Matney

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Monday Morning Money Minute

Posted by Mark Matney of Holcomb Law, PC Newport News, VA
www.matneylawpllc.com
__________________________________

Monday Morning Money Minute

Budget is not a 4 letter word! Maybe 10% of us are so disciplined that we don’t need a budget and perhaps 10% have enough income to spend what they want. Everyone else needs a budget. It doesn’t seem like it at first, but a budget frees you to spend money. What?! Once you know your income and expenses, you can allocate money for recreation without worrying. In a nutshell, the steps for a budget are: Determine your total monthly income and expenses, subtract your expenses from your income, assign your income dollars to your expenses, and keep track. You may find that you need to increase your income or cut your expenses to achieve a balanced budget. A book like Your Money or Your Life can help you focus your money on what is really important to you.

July 31, 2020

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Mark Matney

DUI - DWI Lawyer

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Call Attorney Mark Matney at
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What happens if the officer does not appear for court?

Posted by Mark Matney
Attorney Mark Matney - Holcomb Law, PC Newport News, VA
www.matneylawpllc.com

It depends. If the officer is on a list for an approved absence, then the judge will usually continue the case to the officer’s next available date. This applies to officers who are in training, called up for military duty, or sick.

However, sometimes a judge will dismiss a case even when the officer is on an approved absence list if the officer was not available for court previously. For example, in one Newport News case this month the judge dismissed the charge of reckless driving by speed, 56/35, when the officer was on sick leave for two separate court dates.
When police officers leave their police departments, their cases are usually dismissed. This week a Hampton officer’s departure resulted in the dismissal of Reckless Driving – Accident and a Newport News officer’s resignation resulted in the dismissal of Reckless Driving - Parking Lot.

September 25, 2019

Blood Alcohol Content (BAC)

Consider this recent DUI / DWI case. My client was charged with DUI with an elevated Blood Alcohol Content (BAC), Felony Hit and Run, Open Container, and Driving with a Suspended License. The final result: Guilty of DUI with only the mandatory minimum sentence, Dismissal of the charges of Open Container and Driving with Suspended, and Amendment of the Felony Hit and Run to a misdemeanor. Avoided two misdemeanors, avoided a felony conviction that would have resulted in the loss of certain rights, but convicted of DUI. A loss on the DUI itself, but I submit that the case was a victory since two misdemeanors were dismissed and a felony conviction (with its loss of civil rights) was avoided.

September 25, 2019

Where’s the beef?

Posted by Mark Matney of Holcomb Law, PC Newport News VA
www.matneylawpllc.com
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Where's The Beef... Do you remember the Wendy’s commercial with the three ladies sliding around in the back seat of car as the searched for the beef in the competitors’ hamburgers? Sometimes I face the situation of “Where’s the officer?” Often people ask me if their case will be dismissed if the police officer does not show up for court. The answer is … maybe! It depends on the reason the officer is not present, the type of case, and the judge. Attorney Mark Matney - Holcomb Law, PC is a law firm located in Newport News Virginia, that specializes in DUI and Traffic Court defense. Check out or Avvo Reviews...

If The Charge Has Been Less Serious

This morning a state trooper was not present for court and the judge announced that the trooper was working at an accident scene and would not be able to arrive within a reasonable period of time. Since the trooper had contacted the court with an explanation for his absence, the judge continued his cases. My client today is facing a very serious reckless driving charge that could result in jail time and license suspension, so he was glad to have the court date continued to a new day. However, if the charge had been less serious, such as a speeding ticket or a low speed reckless driving case, the judge may have been willing to permit us to proceed in the absence of the trooper.

In two other recent cases, however, the charges against my clients were dismissed when the police officer did not appear for court. These cases involved a trooper who did not appear and did not notify the court of an excused absence, such as training or illness. Both clients avoided Reckless Driving by Speed. At other times, it is a witness who is missing. A client’s accident case (unsafe lane change) was dismissed last week when the officer’s witness did not arrive. Sometimes judges will give the police a continuance in this circumstance. However, I spoke with the officer and showed him my client’s driver improvement course certificate and other court preparations and the officer agreed to the case being dismissed instead of moved to a new date.

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Monday Morning Money Minute

Monday Morning Money Minute

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Mark Matney

Monday Morning Money Minute

Monday Morning Money Minute

We Welcome Your Comments

Monday Morning Money Minute

Monday Morning Money Minute

We Welcome Your Comments

Monday Morning Money Minute

Monday Morning Money Minute

Request An Appointment

Mark Matney

Monday Morning Money Minute

Monday Morning Money Minute

We Welcome Your Comments

Monday Morning Money Minute

Monday Morning Money Minute

Request An Appointment

Mark Matney

Monday Morning Money Minute

Monday Morning Money Minute

Request An Appointment

Mark Matney

What happens if the officer does not appear for court?

I Welcome Your Comments

Did you win?

Blood Alcohol Content (BAC)

I Welcome Your Comments

Where’s the beef?

If The Charge Has Been Less Serious