America Saves Week Day Five

While it might not feel like it, if you don’t have to pay money for something, it’s almost the same thing as saving said money. The best example of this is interest that you pay when you borrow money (and carrying a balance on your credit cards from month to month IS borrowing money).

Over the last two-plus years I have talked about interest on many occasions, but I shared one of my favorite analogies in a post in August 2019. I invite you to revisit “EarnIt or Pay It–You Choose” and survey the shape of your boat.

I can hear the questions whispered under your breath, “What is she talking about?” Go check it out and see.

Happy America Saves Week, everybody.

Comments

Sunny and 75

While the Intermountain West has had slightly cooler climate than is typical for this time of year, I just know gorgeous weather is right around the corner. Today I wore flip flops in the rain just to make my point. And wearing open-toed shoes without socks is just one of the wonderful things you can do when it’s nice outside! I don’t know about you, but thinking about warm-weather activities makes me want to play hooky from work and play instead. But because I am an accountable adult (most days, anyway), I will NOT forsake my grown-up responsibilities (as bad as I might want to) in favor of longer days and spring and summer fun. I can work before I play. And so can you. Here is a short list of things you should check NOW before the weather gets too hot: THE CHIMNEY – climb on your roof (if it’s safe) or use binoculars to check the exterior, hire a professional for the interior cleaning GUTTERS AND DOWNSPOUTS – make sure they’re clean and make repairs as needed THE ROOF – it’s mu

Who’s the Boss?

If you know me at all, then you know I love Dave Ramsey. In fact, I not only attended a Dave Ramsey affair when it once came to an event center near me, but when I went through Tennessee on a road trip, I hunted him down and visited his studio. I have a picture to prove it (well, it’s somewhere). I always listened to Dave when his show was featured from 1:00 to 4:00 pm on my local talk radio station. One of the things he said frequently (something that he actually borrowed from somebody else–John C. Maxwell) was, “A budget is telling your money where to go instead of wondering where it went.” If you are getting a tax “refund” this year, I will first invite you to review last week's blog post and the three links to previous blog posts. I would then encourage you to plan for that “refund” money, and I don’t mean blow it as most Americans will do. Be smart. Use it to pay off some debt if you, as most Americans do, have some. If not, save it appropriately. We've discussed deb

April Fools'

Warning: this material might cause anger and frustration in some readers. But don’t shoot the messenger here. Oh, how I wish I could tell you that this post is based on a joke, but I cannot because it’s the cold, hard truth. So here it is: if you have gotten relatively large tax returns in recent years, those days are probably far behind you. Don’t count on it this year. Things have changed. Our refunds will be much smaller for the 2022 tax year. Why? Many Americans thought that the stimulus payments they’d received were basically “free money” and were excited to get them at the time. But, unfortunately, nothing is ever free, and those stimulus payments are returning to bite us now. A couple of tax credits have expired ; the expanded Child Tax Credit and certain Covid-related breaks are no longer in existence. During the pandemic, the IRS also gave breaks to those who filed their taxes late. That, too, has been taken off the table. Sorry to be the bearer of bad news, but you

Search This Blog