Tax Refunds - Here We Go Again

Well most of the tax year is now behind us. Many will get a tax refund in early 2009. A few will need to pay the IRS. How well did you do?

According to a recent IRS Newsroom article, federal tax refunds totaled $202 billion in 2003. Nearly 100 million taxpayers or 3 out 4 taxpayers got refunds. The average refund was about $2000.

This refund comes from money you overpaid the IRS all year long, and is based on how much you tell your employer to withhold from your paycheck each week. Taxpayers had an average of $40 a week too much withheld.

The article says that taxpayers that pay too much throughout the year want their tax refund, “ASAP, yesterday, not one day after ASAP.” The article says it’s ironic that the same people who could have kept their money when they had it – but chose not to – are such hurry to get it back?

And many repeat this process year after year after year, the article says. Some say they use the extra tax withholding as a “forced savings” method. But the IRS says, the article syas the IRS doesn’t pay interest and that these people would be better off keeping the money each week and either investing it or eliminating debit.

that paid too much want

Build Your Credit Safely - Heisman Trophy Winner

There are checking account alternatives that let you borrow money and build credit history, a really good thing for college students with financial discipline needing to reduce the interest rates for college loan. Build your credit score, without having a credit check performed, no overdraft fees, no bounced checks. I found a credit card with, "boasts 0% interest for the first year, with an initial cost to user of only $2.78 for processing. No application fee."

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Heisman Trophy Winner, Mark Ingram, Alabama, won by only 28 votes.

Happy Holidays and Shopping - Wealthy Work to Creat e Assets

The wealthy work to create income producing assets (make their money work for them). The middle and other classes create expense producing liabilities (work for money) which is “the foundation of a debt-ridden society, repeating history once again.”

Not everyone wants to be wealthy, because it’s easier. They work for money rather than working so that their money works for them. About 95% of the working people on earth create wealth for the remaining 5%. Why would someone follow the teachings of those who are not wealthy. Answer - FEAR, or they simply don’t know any better.

People don’t plan to fail, they simply fail to plan

Goal-Setting - For those that have a dream, and want to make that dream a reality, it can be really hard work. Goal-setting is a necessary first step toward making your dreams come true. Successful corporations and agencies require their employees to routinely set goals and establish objectives to meet those corporate goals. Very few individuals understand the necessity of setting goals and objectives for themselves and their families, and therefore have no successes to speak of. In other words, people don’t plan to fail, they simply fail to plan. “Plan your work and work your plan.” Goal-setting will be covered in as much detail as possible in subsequent editions.

Acai Berry Shocker: ABC, Fox News, CNN, USA Today

Be careful of What you read and hear. People, News papers and TV often say and do things to get your attention. They may affect your decisions. Ba able to discern right from wrong, and do your own research and draw your own conclusions. Even if a so called expert, Rabbi, preacher, or politician says its so.

I read the following headline and immediately thought Acai Berry must have been another hokes. Headline: "Acai Berry Shocker: ABC, Fox News, CNN, USA Today
Will Acai Beerry Really Help Youu Lose Fat?"

Turns out the study reveled the following:

"Week Four: By week four I could absolutely say that I was shocked by the results of these products. Everyone here at the office couldn’t believe it either. I actually even lost another 3 lbs of body fat which helped me finally get down to my ideal dress size. I can now see first-hand why so many people are raving about these products. The results speak for themselves. And because of all the additional health benefits, I definitely plan to continue taking the Certified Acai supplement regularly."

Creating Extra Money

Tip of the Month – Use dept elimination software to calculate how much you should pay on each credit card (bill) each month and systematically eliminate everything from the high interest “bad debt” to the lower interest rate debt in a very short period of time while using the same amount of money you now spend each month on those same bills. What’s left? Lots and lots of cash.

I'm a College Kid w/BIG Loans. How's this relate.

It does not matter who you are or where you are in life. If you don't know where you are financially, you can't know the possibilities of where you want to be financially. "BIG college loans" means you may have a significant negative net worth that you might want to eliminate sooner rather than later. Otherwise, you will pay huge sums in interest, for car insurance, and more, because of your credit rating and lower net worth.

You only have so much money -- make sure you're spending it in the right places. Spending your money on tens of thousands of dollars in interest on college loans is not the "right place." Find your starting point (net worth), establish a budget, and pay that loan off as quickly as possible. Software will encourage zealous attention to detail. The results will give you suggestions on what percentage of your income you should be devoting to certain expenses and saving.

Use dept elimination software to calculate how much you should pay.