Income Tax Refunds

With the hold that has been placed on the disbursement of income tax refunds it gives us a moment to ponder what we should do with this money. Start with a plan we need our rainy day fund, we need our emergency fund, we need our immediate cash on hand fund, and savings.

Some things to ponder the limit has increased to $5,000 for Roth IRA contributions and you can still contribute prior to April 15. Also consider purchasing some long-term CD's sometimes you can acquire a better rate if you buy long-term just make sure you can afford to live without the money. Otherwise, the penalty to withdraw is very harsh. Money-markets are good try diversifying your portfolio. Read, Read, Read and ask questions don't just jump out on a limb.

It's funny how the government is considering the tax rebates as a stimulus to the economy because most people won't save or invest that money but will use it unwisely. Don't be a part of that crowd do something that will reap rewards and residual income.

Make every dollar count.

Magazines to read

Plese check out Kliplingers & Money Magazine there is a wealth on knowledge in those magazines and their websites. The very basics can be found on the sites. Check back for more updates.

Budget-Budget-Budget

Have you found yourself in a crunch when you have an emergency?
Has something come up out of the blue?
If you answered yes to either one of these questions a budget as well as an emergency savings plan is in order. The $5 you spend on latte, or $10 eating out on lunch could be add up to a significant amount of money provided you save it opposed to spending. Change your mindset. SAVE--Budget-Plan & Prepare!!

Have you ever noticed that if you pack your cabinet at work with snacks you tend to munch less? It's the idea of spending money and getting something in return. Why not bulk shop and pack your cabinet, perhaps be a little thrifty and sell some of your snacks to other unprepared co-workers.

Find anyway you can to cut back and stash your money for a rainy day! bank of America has the Keep the Change which I am finding is a good idea and it provides a cushion if you need it.