Master Your Finances

To help you manage your money as an independent contractor, we created a video series called "Your Money Matters."

January 22, 2014

Many are drawn to real estate because of the independent nature of this business. But that same quality also means a challenge for those who aren't expert money managers. Of course, hiring an accountant or tax adviser is a smart move. But whether you work with a financial professional or not, there are common-sense steps you can take to help you master your financial picture.

Where should you begin? To find out, we decided to create a regular series where REALTOR® Magazine staff sits down with the financial experts at REALTORS® Federal Credit Union, a division of Northwest Federal Credit Union, to get their tips on what to do and what not to do with your hard-earned income.

The first video looks at ways to avoid tax surprises. Learn how to set aside a certain amount of money each month so that you're well positioned to pay your taxes.

The second video looks at tips for setting up a reserve account to help you get through those tough months when the income isn't coming in at the rate you need to meet your obligations.

The third video looks at why it's helpful for you to understand the differences between a credit union and other types of financial institutions.

This fourth video helps you answer some of the questions you should ask yourself when planning your expenses at the beginning of each year.

Upcoming videos in the works will look at planning your finances for the year, among other topics. Join REALTOR® Magazine and your credit union as these and other ideas are explored. Have ideas for topics you'd like to see tackled? E-mail us at

Robert Freedman

Robert Freedman is the former director of multimedia communications at NAR.