May 6th, 2010
The tax cuts instituted under President Bush are going to expire at the end of this year. Maybe you believe those in Washington will extend the current tax law, but that would take an act of Congress. If they’re not extended, how serious will this be to the average person? How will this tax increase of $2.4 trillion affect the average tax payer?
This lack of repeal will increase taxes for 17 million seniors an average of $2,034 per year according to the Heritage Foundation, a Washington D.C. non-profit think tank. That is approximately $170 per month! Many seniors will find themselves dipping into savings to pay the taxes, if they have savings at all. Read the rest of this entry »
Tags: business, debt, financial, income, money, retirement, save, tax
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May 5th, 2010
To save time and money on home renovations, consider these two ideas.
1. Prepare for the contractors. Ask your handyman if it’s okay to do prep work and purchase supplies. Buying supplies in advance can save big because contractors often charge a mark-up for materials.
2.
DIY advice for free. Go to
youtube.com and type in “askthebuilder” for how-to videos on simple procedures, like replacing a faucet or a light fixture.
Tags: electric, energy, financial, house, money, save, utility, water
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March 24th, 2010
In the nineties I was involved with a number of companies that brought Russian technology to the United States to develop businesses. At one point I asked one of the Russian gentlemen what he thought of our country. He said he was particularly taken by our privileged class. When I asked him to clarify the statement, he said, “You know, your teenagers.” He went on to explain how they drive the cars, buy the clothes and the electronic equipment, and they do it all at little to no cost to themselves. However, they are not the only group that has favor in this nation. There are other groups with favor based on age, health, income, net worth, and occupation.
Read the rest of this entry »
Tags: business, debt, family, financial, health, healthcare, income, inflation, medical, MEDICARE, money, retirement, save, tax
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March 2nd, 2010
Here are two ways to cut rising food costs.
1. Never shop on an empty stomach. When you’re hungry, you are bound to grab some extra, and most likely, unneccessary items. Always eat before you go shopping.
2. Leave the kids at home. Tired and cranky kids generally make shopping take longer and inevitably make you grab a couple things you normally wouldn’t have, just to keep them quiet.
Tags: family, food, money, save, shopping
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February 5th, 2010
It has become glaringly obvious to me over the past few months that many veterans are not aware of the benefits available to them for serving our fine country. I have taken this time to compose a general list of eligibility requirements and some of the major benefits that many veterans have access to, but may not be taking advantage of currently. Additional information can be found on these topics at www.va.gov. Read the rest of this entry »
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February 5th, 2010
Here are two ways to save some money on your electric bill during this winter season.
1. Heat on the rooms of the house that you are using. By using space heaters and ceiling fans instead of your whole-house, forced air system, you can dramatically reduce your ongoing heating bill.
2. Insulate well. Use weather stripping around doors and windows and put plastic sheeting over the windows. Don’t forget, you can get a tax credit for making some energy saving home modifications. Check out http://www.energystar.gov/index.cfm?c=tax_credits.tx_index for more details.
Tags: electric, heat, house, money
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December 11th, 2009
We live in such a complex world today. Each day brings more legislation to add to the complexity. How does the average person cope? Having counseled multitudes of people over the years, I find it fascinating that so much money is wasted by even the brightest people. We live under the belief that an accountant, a financial planner, a business executive, a banker, an insurance advisor, a lawyer, a physician, a mortgage broker, and a financial aid officer will provide our needed knowledge. I have counseled all of these types of advisors and found significant money they had thrown away because of their lack of knowledge. Are we all bright enough or have we as a people entered into such a specialized world that no one is taking time to address the bigger picture? There is money to be saved for everyone.
Proverbs 19:2 says, “It is not good to have zeal before knowledge.” We live in a society that has zeal and limited knowledge so we miss out on the hidden manna that is available to everyone. Read the rest of this entry »
Tags: appliances, business, debt, energy, financial, food, house, income, money, save, tax, utility, water
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December 11th, 2009
With Christmas and New Year’s approaching, travel plans will begin to pick up. Here are a few ways to reduce your gas costs this holiday season.
1. Cold weather warm-up. Avoid prolonged warming up of the engine, even on extremely cold mornings, 30 to 45 seconds is plenty of time.
2. Ice and snow build-up. During cold weather watch for icicles frozen to the car frame. Unremoved snow and ice cause tremendous wind resistance.
3. Fuel line freeze-up. Use special gas additives to prevent winter freezing of gas lines.
Tags: car, fuel, gas, save, travel
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October 16th, 2009
Tax Strategies to Consider Before 2010
If the recession has touched your life financially, you might want to do some tax planning to either postpone or accelerate your tax deductions and/or income. For those anticipating more income this year than next, it may be prudent to accelerate deductions and postpone income. For those anticipating less income this year than next, consider postponing deductions and accelerating income. Here are some ways to do that.
One example might be to do a conversion of a Traditional IRA to a Roth IRA. This will result in more income in the year completed, but will reduce taxes in future years, particularly after the Roth has been in place five years. It will be necessary to look at how the additional income will affect your taxes this year before you do complete the process. Read the rest of this entry »
Tags: business, car, employment, family, financial, income, money, tax
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October 16th, 2009
Here are a few ways to lower your grocery bill.
1. Check out your local supermarket’s website. Supermarket home pages often have coupons and daily specials listed and they all have the weekly ad posted so you can compare prices.
2. Look high and low. Popular brands pay a premium to have their products placed at eye level. Less expensive brands usually are placed on the upper and lower shelves. Check to make sure you aren’t missing out on something just because it’s hard to see.
3. Always get a raincheck. If the store runs out of a sale item on your list, ask for a raincheck and pick it up next time you are in the store.
Tags: food, nutrition, save, shopping
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