Thursday, January 31, 2008
Transmitted and IRSaccepted between IRS Direct Deposit Sent Paper Check Sent
01/11/2008 - 01/17/2008 (11am) 01/25/2008 02/01/2008
01/17/2008 - 01/24/2008 (11am) 02/01/2008 02/08/2008
01/24/2008 - 01/31/2008 (11am) 02/08/2008 02/15/2008
01/31/2008 - 02/07/2008 (11am) 02/15/2008 02/22/2008
02/07/2008 - 02/14/2008 (11am) 02/22/2008 02/29/2008
02/14/2008 - 02/21/2008 (11am) 02/29/2008 03/07/2008
02/21/2008 - 02/28/2008 (11am) 03/07/2008 03/14/2008
02/28/2008 - 03/06/2008 (11am) 03/14/2008 03/21/2008
03/06/2008 - 03/13/2008 (11am) 03/21/2008 03/28/2008
03/13/2008 - 03/20/2008 (11am) 03/28/2008 04/04/2008
03/20/2008 - 03/27/2008 (11am) 04/04/2008 04/11/2008
03/27/2008 - 04/03/2008 (11am) 04/11/2008 04/18/2008
04/03/2008 - 04/10/2008 (11am) 04/18/2008 04/25/2008
04/10/2008 - 04/17/2008 (11am) 04/25/2008 05/02/2008
04/17/2008 - 04/24/2008 (11am) 05/02/2008 05/09/2008
04/24/2008 - 05/01/2008 (11am) 05/09/2008 05/16/2008
05/01/2008 - 05/09/2008 (11am) 05/16/2008 05/23/2008
05/09/2008 - 05/15/2008 (11am) 05/23/2008 05/30/2008
05/15/2008 - 05/22/2008 (11am) 05/30/2008 06/06/2008
05/22/2008 - 05/29/2008 (11am) 06/06/2008 06/13/2008
05/29/2008 - 06/05/2008 (11am) 06/13/2008 06/20/2008
06/05/2008 - 06/12/2008 (11am) 06/20/2008 06/27/2008
06/12/2008 - 06/19/2008 (11am) 06/27/2008 07/04/2008
06/19/2008 - 06/26/2008 (11am) 07/04/2008 07/11/2008
06/26/2008 - 07/03/2008 (11am) 07/11/2008 07/18/2008
07/03/2008 - 07/10/2008 (11am) 07/18/2008 07/25/2008
07/10/2008 - 07/17/2008 (11am) 07/25/2008 08/01/2008
07/17/2008 - 07/24/2008 (11am) 08/01/2008 08/08/2008
07/24/2008 - 07/31/2008 (11am) 08/08/2008 08/15/2008
07/31/2008 - 08/07/2008 (11am) 08/15/2008 08/22/2008
08/07/2008 - 08/14/2008 (11am) 08/22/2008 08/29/2008
08/14/2008 - 08/21/2008 (11am) 08/29/2008 09/05/2008
08/21/2008 - 08/28/2008 (11am) 09/05/2008 09/12/2008
08/28/2008 - 09/04/2008 (11am) 09/12/2008 09/19/2008
09/04/2008 - 09/11/2008 (11am) 09/19/2008 09/26/2008
09/11/2008 - 09/18/2008 (11am) 09/26/2008 10/03/2008
09/18/2008 - 09/25/2008 (11am) 10/03/2008 10/10/2008
09/25/2008 - 10/02/2008 (11am) 10/10/2008 10/17/2008
10/02/2008 - 10/09/2008 (11am) 10/17/2008 10/24/2008
10/09/2008 - 10/16/2008 (11am) 10/24/2008 10/31/2008
10/16/2008 - 10/23/2008 (11am) 10/31/2008 11/07/2008
Friday, January 25, 2008
Approximately 117 million Americans will receive a tax rebate of $600 for individuals and up to $1200 for couples plus an additional $300 for each child. To qualify for the rebate you must have paid federal taxes in 2007 and have a valid social security number.
For individuals making over $75,000 and couples making over $150,000 the rebate will be reduced. If you owe back taxes the amount owed will be deducted from the rebate check. Americans who didn't earn enough to pay income tax but had an earned income of at least $3,000 would receive $300 for individuals and $600 for couples. Checks would be received 60 days after the legislation is finalized.
The government is hoping the checks with encourage Americans to spend their money to help jumpstart the economy. Unfortunately so many Americans are living paycheck to paycheck and are struggling to make end meets that for some the tax rebate check will not change their current financial situation. The focus of Americans is not let me go shopping, it is, "Where I am going to find enough money to go to work, pay for daycare, pay my mortgage"? The tax rebate money could results in responses like, "I needed this but I need more, a lot more."
Americans are losing their jobs almost monthly, companies are downsizing, the cost of gas is increasing, grocery prices are increasing while home prices are decreasing. Americans need long-term solutions. After the tax rebate is spent most Americans will be in the same financial situation as they were before receiving the tax rebate. Write your congressman and ask for a better solution to the recession.
Here are 5 tips to use your 2008 Bush tax rebate wisely.
1. Don't use the money to go shopping
2. Use the money to pay a debt or monthly expense
3. Open an emergency fund or savings account
4. Open an investment account
5. Buy basic necessities needed
Sunday, January 20, 2008
Wednesday, January 16, 2008
A spending plan is simply a recording or documented list of all of your monthly expenses and monthly income. Once you record all of your spending for the month you can readily see what areas need to be addressed. A good guide for monitoring your monthly spending plan is as follows:
1. 35% of your monthly net income should be spent on housing (includes bills)
2. 10% of your monthly net income should go towards savings
3. 15% of your monthly net income should go towards transportation
4. 15% of your monthly net income should account for debt
5. 25% of your monthly net income should go towards other expenses
You can create your spending plan manually using pen and paper, a spreadsheet or using a software tool such as Quicken or Microsoft Money. Whatever method you use stick to it and use it every month.
Another component to making it through 2008 is to create an emergency fund or savings account. A savings account is not an investment account. A savings account is money that is available in the event an unexpected expense occurs. This will prevent you from using a credit card and will reduce stress that can be caused by having financial problems. In addition making a habit of saving money pays off in the long run because you will have money to buy things that you need and want without having to get a payday loan, cash advance or buying rent-to-own items.
A great way to save money without thinking about it is to deposit money directly into a savings account through your bank. This can be done by contacting the bank where you have direct deposit and request an additional amount of money be deposited into a bank savings account.
They are several vehicles that can help you save money such as: savings accounts, online accounts, money market accounts, money market funds and certificate of deposits (CDs). Do research and comparison shop for the bank that provides the best options for your savings goals.
Another component to making it in 2008 is to create financial goals. Your financial goals provide accountability and direction for your savings and how the money will be used. You can create short-term and long-term savings goals. A short-term goal can be to save $100 a month. A long-term goal can be to get out of debt. Whatever your goals stay focused on them and set a deadline date for each goal to help you stay on track with your spending plan.
Using the three components identified: creating a spending plan, creating financial goals, and creating a savings account will help you make it through 2008 with less stress and more financial security.