$ Money Q & A

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No More Dreams Deferred!

Have you ever had one of those work weeks that makes you question your ability? Where you question who you are and what you’re doing? When you’ve got to dig deep to remind yourself that you’re a contender, a champ, you've dealt with worse in your career and come out on top?

I’m having that week…I’m digging deep….and of course it always works out in the end with the experience only encouraging us to move with lightening speed toward completely living our dreams…

A talk show host once attributed the time it takes people to fulfill their entrepreneurial dreams to fear and laziness. I’ll say that for some this may be the case, but for the most part I believe it is just our everyday lives. You go to work, you go to school, take care of your families…and before you know it - years have passed by and you couldn’t find time to sit down and plan for that business or new career or to go back to school.

Life happens and this or that distracts you from your goal….. I would also say money stops a lot of us too. Money is a huge factor in funding writing projects, career changes, or business ideas without going so deep in debt you can't climb out…

Which is why it is important to have your financial house in order so you can set some money aside to start your business or take a certification course or start a new career - without having to worry about a cut in pay.

Well no more dreams deferred, it’s going down!….NOW!….This is the year, now is the time!...Let's make it happen! I don't care if you only set aside a little money each pay....it's a start.... a few hours each week...it's a start.

So, what's next for you?

What is YOUR Economic Stimulus Plan?

For the past month or so there's been announcements about President Bush's Economic Stimulus Plan. The plan encompasses tax rebates for individuals and families as well as incentives for businesses to invest.

I will not rant and rave in this post (maybe in another) about the fact that maybe this money could be put toward our deficit or that if the government practiced better money management and stopped spending when there was no more money or was proactive instead of reactive when his mortgage mess was inevitable to anyone seeing and hearing all these 'creative' financing techniques.....(whew..breath)..... we wouldn't be having this problem...yada yada ya...and yes I'm aware there are many complicated facets to American economy. Also, I will unashamedly take my check once it arrives, whether I think this is the best plan or not!!! $-)

ANYWAY....I ENCOURAGE YOU to create your own economic stimulus plan! Bush wants us to get our income tax refunds and these additional rebate checks and SPEND, SPEND, SPEND. Help the economy!!! I say help your household's economy! Because at the end of the day we will be responsible for our own financial well being - not any government official.


Fellas, I know you love your cars, your gear, your tools, ...Ladies, your shoes, purses, furniture, etc...but let's pump the brakes and think long term. Determine to stay away from the mall or wherever your spending weakness lies. I know, I know - there are all kinds of wonderful things to buy...I personally have my eye on a lovely coach purse...but NO I will refrain!!

Why not use both of these checks to give yourself a leg up?:

Pay off a bill:
Get caught up on household bills or get closer to being debt free by applying this lump sum toward your debts? (You know that smallest to largest debt list, pay off smallest first?)

Save:
Yes, save! Think long-term, this money could begin your emergency fund or add to it.

No bills? Your Savings Tight?:
Invest it in a mutual fund - look for growth, balanced, global or aggressive growth funds, do your homework first.

OKAY..... TIMEOUT, YOU MEAN I CAN'T SPEND ANYTHING?!!!

No, I always believe in treating yourself. Even if you are knee deep in debt, go to a movie or buy something small. The goal is not to restrict yourself to no end, but it is to help you make smarter financial decisions so you can see the day when you receive a lump sum and you don't HAVE to spend it on a necessity because the necessities are covered.

See blog from Jan. 23rd 'Tired of Living Check to Check'

Tax Rebate: How Much Will You Get?

Hey folks, here's a pretty good breakdown of who will get what when the tax rebate checks are distributed this May. Found this on www.msnbc.com

• An individual with $2,500 in earned income in 2007: Disqualified because income fell below the $3,000 threshold. No rebate.

• A married couple with no children, with adjusted gross income of $100,000 in 2007: Would qualify for the full $1,200 couples. A $1,200 rebate.

• A worker with one child, who earned $9,000 and owed no taxes in 2007: Would qualify for the $300 rebate available to individuals who pay no taxes but earned at least $3,000, plus an additional $300 for the child. A $600 rebate.

• A couple with income of $145,000 in 2007, with three children: Would qualify for the full $1,200 for couples, plus $300 for each child. A $2,100 rebate.

• A couple with income of $160,000 in 2007 with two children: Would qualify for a partial rebate, reduced by 5 percent for every $1,000 in income above the $150,000 threshold. An $1,800 rebate — $1,200 for the couple plus $300 per child — would go down by 50 percent for this family. A $900 rebate.

• A couple with income of $200,000 and four children: Disqualified because their income exceeded $174,000, the phase-out limit. No rebate.

• An individual with adjusted gross income of $23,000 and no dependents: Would get a rebate of $600.

• A couple with adjusted gross income of $160,000 and two children: Would get a rebate of $1,300.

• A couple with adjusted gross income of $184,000 and two children: Would get a $100 rebate.