Don't count your refund before it's cashed

re: Don't count your refund before it's cashed

dward — Tue, 30 Sep 2008 15:39:01 GMT

I hope I have finally learned that the message of most financial articles is to Save, Save, Save. I am 66 yrs old and frantically trying to add to my small retirement plan. I have never had cable so I don't have to give it up, I don't have a cell phone yet, and I have dial up internet (I have patience) and I could list many other ways I save money, but it would be repeating what you already know. Not everyone can save anything at all and my heart goes out to them. I am on Social Security and still work and because of spending my earnings over the years, I find my self short of financial security. I always told my self that I didn't make enough to save and that simply wasn't true...I just liked to spend money and that is what I did. You are never too old to learn this valuable lesson, how ever I doubt if any of these articles or blogs will actually change many peoples spending habits. We learn this lesson by our own painful experience. I am glad I still have a few good years to continue to work part time and save. Fortunately I have very little credit card debt and my mortgage payment is modest, but Social Security will not cover my living expenses and that is the great fact for almost everyone my age.

re: Don't count your refund before it's cashed

bd — Thu, 18 Sep 2008 14:06:12 GMT

When you have children there are going to be a lot of unforeseens. The note from school with an item that is needed immediately - an item that you did not budget for. The school trips. The book order. Sometimes requirement from the sports teem. I budget, but my unforeseens are too many and too often.

re: Don't count your refund before it's cashed

EMJ — Tue, 08 Apr 2008 13:56:55 GMT

I think that in handling the "small" things, you eliminate the burden of having to deal with the larger issues that could come about by not budgeting properly. Granted, what the author writes about in her own life may seem insignificant to what others may be experiencing, but it's developing a mindset and having a plan that are the main points of this article. It's ensuring you don't live beyond your means, and not counting on something before it's set in stone. We all make mistakes, to learn from them is the key.

re: Don't count your refund before it's cashed

Kristy — Mon, 24 Mar 2008 17:47:27 GMT

Wow. So....after spending money you didn't have on who-knows-what....you go and spend money that is "due" to come in (aka money you DON'T have) on "art supplies". Then you go ahead and charge MORE money you don't have on a wedding while the fiancé is too ill to work full time to pay the regular bills?

In case you can't tell, spending money you don't have IS NOT WORKING FOR YOU!!! Good grief! Just go see a J.P. and get married if you want to be married!

re: Don't count your refund before it's cashed

TR — Fri, 14 Mar 2008 17:53:13 GMT

Start by buying stuff made in the USA that means dont go to walmart look around its not that hard We can all have good paying jobs again

re: Don't count your refund before it's cashed

cb — Fri, 14 Mar 2008 14:41:18 GMT

Come on people! Why are we engaging in this my-situation-is-a-lot-worse-than-yours-so-stop-complaining or I'm-handling-my-finances-a-lot-better-than-you competition? Aren't we all just trying to improve our financial lives? Thank you for a well-written and informative article, AF, and just ignore the mean-spirited comments. :)

re: Don't count your refund before it's cashed

kathy m. — Fri, 14 Mar 2008 02:22:58 GMT

mr tax guy, what happens if a tax preparer makes a mistake, not on our tax paperwork, but my husbands ex wife and her husbands preparer. when they did there tax paperwork(hrblock) they put my stepsons social number in the place of the spouses social number. unfortunately, ours was kicked back because they said he was already claimed as a spouse. they sent an amendment and our tax man sent ours back also. so how long do you think it'll take for them to check this all out. my tax man said it should take about 4 - 6 weeks. should i call them in 6 weeks.

re: Don't count your refund before it's cashed

Wendy — Fri, 14 Mar 2008 00:50:46 GMT

Seriously, people need to learn to read for the POINT and not just the words that are on the screen. But, I'll play the game...:

I can't believe this author! She has a measly $2000 in credit card debt - there are people who have it SO MUCH WORSE! Because my parents divorced, they can't help me with my college, so I'm about $15,000 in student loan debt. Woe is me. But wait! My old roommate has at least that much debt AND $3000 in credit card debt. My best friend from childhood as about double in credit card debt and was diagnosed as HIV+ a year ago (since he doesn't have health insurance, he maxes out his weak credit to try to take care of himself so he can continue working). But then I remember that my 72 year old grandma has to work to keep their house because my philanderer of a grandfather spent their retirement money on his mistresses. Then I think of women in the Middle East with PhDs who can't work because of extremist governments. Then I think of those same women who might have been raped 20 times in an Iraqi rape room. Then I think of all those starving African children who have both lost their parents to AIDS and have been shunned by their communities because of the shame of AIDS.

Now, back to actually using my brain:

I admit that $15,000 worth of low-interest student loan debt pales in comparison to these very real situations. Does that mean I should be just be grateful that I'm not in credit card debt/HIV+/working at 72/oppressed by misogynist government/starving and bithely forget that I'm $15,000 in the hole? No - this is $15,000 I will have to repay. This whole "counting one's chickens" thing strikes me as particularly relavent since a college degree no longer guarantees high-paying jobs (an engineer I am not). People's problems are unique to them, and how much $2000 of debt hurts just depends on your situation.

FOR THOSE WHO DO NOT UNDERSTAND THIS ARTICLE, HERE"S THE SUMMARY:

1) Keep copies of everything (although it might not have helped in this particular case)

2) **** happens; regardless of how deeply it piles up ($2000 debt - immanent threat of death), you can only take it as it comes

3) Don't count your chickens. That's a "colloquialism" that actually means that one cannot count on what one does not yet have EVEN if it's been "guaranteed" by some authority

re: Don't count your refund before it's cashed

joe — Fri, 14 Mar 2008 00:38:12 GMT

Did you learn a lesson? Don't spend what you don't have. Most people with an ARM will tell you that

re: Don't count your refund before it's cashed

Gotoutofdebtat35 — Thu, 13 Mar 2008 23:37:01 GMT

If $240 breaks your budget, you need to take a step back and look at your overall finances.