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Posted
Aug 01 2008, 03:24 PM
by
Karen Datko
Rating:
Kay Bell at Don't Mess With Taxes has the skinny on an event we're unfamiliar with (we live Montana, where every day is a sales tax holiday): Many states are waiving sales tax on purchases of school supplies, computers and clothing this weekend or later this month. Often, the holiday applies to local sales tax as well. The celebration doesn't stop there. During the Friday and Saturday after Thanksgiving, South Carolina is waiving sales tax when people buy handguns, shotguns and rifles. And another round of tax-free days is coming up for energy-efficient appliances and other products in a few states.
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Posted
Jul 29 2008, 12:19 PM
by
Karen Datko
Rating:
Here's something that hadn't happened in nearly 30 years: The number of miles driven by Americans has fallen for seven straight months. And if things keep going the way they've been, we might see something we haven't experienced as a nation since 1961: a drop in annual traffic deaths below 40,000. It should be no surprise that both are related to the high price of gas and other essentials like food.
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Posted
May 29 2008, 11:51 AM
by
Karen Datko
Rating:
If you've already received your economic-stimulus check from Uncle Sam, you can share what you did with it by posting at a Web site called -- ta-da -- How I Spent My Stimulus. You can even post a photo that illustrates how you used it. For example, we saw photos of casinos, whiskey bottles and cut-up credit cards. Scrolling through the site, we noticed that lots of folks spent their tax-rebate money to treat themselves -- hopefully stimulating the economy in the process. Some saved it, some used it to cover higher living expenses, and some gave it away. Some posts are listed under a category called "weird."
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Posted
May 06 2008, 11:03 AM
by
Karen Datko
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Cathy at Chief Family Officer was very excited the other day. That tax rebate check showed up in her checking account. She's using it to pay off the balance owed on her car loan. "That's right! Our car loan will be paid off in less than two months! I feel like I pretty much met my goal of paying cash for a car this year," she writes. Lots of bloggers have received their checks and are sharing their plans for the money. Not a spendthrift group, this bunch. So much for the government's economic-stimulus plan.
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Posted
Apr 25 2008, 10:16 AM
by
Karen Datko
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Consumer confidence is at a 26-year low. Gas prices have risen yet again. Are we ready for some good news? Here it is: Those tax rebate checks will start showing up in people's bank accounts on Monday, four days early. For those who didn't select direct deposit, the checks will begin hitting the mail on May 9, a full week ahead of schedule. "The money is going to help Americans offset the high prices we're seeing at the gas pump, the grocery store, and also give our economy a boost to help us pull out of this economic slowdown," President Bush said today.
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Posted
Apr 02 2008, 02:53 PM
by
Karen Datko
Rating:
More than half of Americans say they'll put their tax refunds into savings, and the rest say they'll pay off debt, do home improvements or give it to charity. (Actually, we have no idea if this is true because we read it at Punny Money.) Nick, the blogger at Punny Money, knows better. His hand-drawn pie chart -- "How Americans actually use their tax refunds -- shows this breakdown: 34% will spend it on "the newest model of iPod. Every year. Forever." Another 20% will go for pay-per-view wrestling, 19% for Hannah Montana concert tickets, 9% for "personalized celebrity recording for answering machine," and it just gets worse from there. What are some ways to use that refund or rebate that aren't so ridiculous? The funniest personal-finance blogger on the Internet has some advice for you.
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Posted
Mar 07 2008, 04:20 PM
by
Karen Datko
How does Patrick at Cash Money Life really feel about tax refund anticipation loans? He writes, "The refund anticipation loan is quite possibly one of the worst things to happen to taxes since ... well, taxes." First of all, why not wait the 10 to 14 days it will take the IRS to get your money to you electronically. "Unfortunately, some people aren't satisfied with mere days. They want it now!" Patrick says. "Enter the refund anticipation loan," which he calls "essentially payday loans that are guaranteed by your tax refund."
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Posted
Feb 11 2008, 01:59 PM
by
Karen Datko
Congratulations to Peter of Plan Your Escape, whose post "8 reasons why small houses are better than big ones" edged out the closest competition by one vote to make him most valuable player in the Superbowl of Personal Finance. Overall, Team Finance defeated Team Frugal in total votes cast by readers. Noting that "one of the key characteristics of simplified living is knowing what is enough," Peter presented compelling arguments for opting for a small home. You'll spend lots less on the purchase price, taxes, utilities, maintenance and furniture. You'll be less tempted to accumulate clutter because you have less storage space. You'll also leave a "smaller environmental footprint." He wrote, "Huge homes aren't going to be sustainable in the long run."
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Posted
Feb 07 2008, 06:28 PM
by
Karen Datko
Rating:
Now that a $168 billion economic stimulus package has been approved by Congress, we thought we'd revisit David's recent post about the plan at My Two Dollars. He thinks it's a bunch of bunk. (Actually, his wording was a bit stronger.) Where, he wants to know, is the money coming from? "We are borrowing to pay for everything nowadays because Bush has spent us into the poorhouse .... And yet we still have (money) to hand out to every person in the country? No, we actually don't," he writes. "It will be paid for by us, just not today." (Lest you think this is a partisan rant, he lets the Democrats have it, too.)
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Posted
Feb 07 2008, 02:27 PM
by
Karen Datko
The message is the same from every presidential candidate, says Savvy Frugality: "The people (that's us) just can't make ends meet on our own, so we need their (the candidate's) help." Perhaps Savvy is just a tad bit jaded because he was a reporter for more than 20 years, but he says he's heard it all before. Why wait for the government to improve your finances? he says. You can apply the same solutions spouted by politicians to fix them. Here's an example: Some candidates say they want to cut taxes. You can cut your own taxes without their help. If you're getting a refund, you're having too much money withheld from your paycheck. "Adjust your W-4 at work at keep that money yourself," Savvy says.
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