Getting a Tax Refund?

Getting a chunk of money back from the Feds and/or State? What to do with that money? Here is the strategy we use each year. I will use a refund of $5,000 to make the example easier.

10% - $500 to Charity
10% - $500 hers
10% - $500 his (which really means hers)
70% - $3,500 to savings (retirement, emergency fund, regular savings)

So 20% will probably be going for wicker furniture or upgrading a bathroom or new drapes or some other exhilarating project. Sadly it probably won't be going towards a shopping spree at Victoria Secrets. 

If we had any outstanding debt I would use at least half of the 70% for debt repayment.

Don't forget to consider adjusting your withholding with your payroll department so you get more money each paycheck instead of a large refund. The only reason we get a tax refund is because of the EIC (earned income credit) we get because of all the yard-apes. Yeah I know the EIC is basically a commie program to keep crack-heads happy, but as long as the morons in D.C. are giving it out, I'll take it.

Now all I have to do is finish gathering all my 2013 tax docs so I can get my refund. Lame I know. I should have done that by now.

Here is an article from Money Talk News with other suggestions on how to use your refund.

Here are the highlights from the article:

4 smart uses for a tax refund

1. Create an emergency fund

2. Save on insurance

3. Start a business

4. Save for retirement or college

10 dumb things to do with your tax refund

1. Spending it rather than investing it

2. Spending it rather than paying down debt

3. Spending it on something that won’t lower next year’s taxes

4. Failing to create a memory

5. Loaning it to someone

6. Not doing something to improve yourself

7. Using it to create more debt

8. Failing to prevent future big refunds

9. Going to the mall

10. Using it to sustain an unsustainable lifestyle

Eating Down the Apocalypse Supplies

Our cup, pantry and freezer overfloweth.

Because of this borderline hording mentality I seem to have developed, we are well stocked in the dry-goods, staples and frozen meat departments. Heck I've got enough toilet paper stocked to wipe all the asses in DC, and enough toothpaste to brush out their lying mouths. Living in the DC area I'm not sure how I will know if the Zombie Apocalypse has actually happened or if it's just business as usual in DC.

We have accumulated a lot of rice, pasta, cake mixes, chicken and ground beef...we have enough chicken and ground beef for McDonald's to serve a few more million. We also have half-a-dozen jars of jalapenos, I don't know why.

So for the month of September we are gonna "eat what we have" and not buy a lot of groceries. The obvious exceptions being milk, eggs, bread and fresh fruit and veggies.

Besides making some room in the pantry and freezers, I'm curious to see how much less than normal we spend out of our monthly food budget.

Will post an update on October 1st on how it worked out.

***all posts applying to my family only - your results will be different***

Warning signs that you need to get your, um, stuff together

Warning signs that you are in financial distress

1)      No savings. You don’t have a rainy day and an emergency fund.

2)      Your credit card(s) are maxed out.

3)      Once you have paid down your card you go shopping.

4)      You don’t pay your credit card off in full each month (unexpected expenses are not an excuse. You should have a rainy-day fund and an emergency fund. See #1).  You only pay the minimum.

5)      You apply for a new credit card because yours are maxed out.

6)      You have been denied credit.

7)      You take cash advances on your credit card.

8)      You are still spending money on non-essentials when you have credit card debt and no savings. You know, stopping for a latte, going out to eat, doing every activity your kids want to, buying your kids new clothes for every function under the sun when they have perfectly good clothes at home….

9)      You keep refinancing your house and taking money out. You owe more than your house is worth. Or you have two or more mortgages.

10)   You can’t refinance your mortgage to take advantage of low rates because you credit score is lower than a politician’s IQ.

11)   You haven’t pulled a credit report in the past year, or ever. Want one? You are entitled to one free one each year. Don’t go to one of those websites that you see ads for.  Go to www.annualcreditreport.com, the only official site, to get them. All other sites are trying to up-sell you something.

12)   You borrow from friends and relatives to meet everyday expenses.

13)   You have no money leftover at the end of the month.

14)   You bounce checks.

15)   You lie about your finances to your spouse, family and friends.

16)   You are stressed about money and can’t sleep.

17)   You fight with your spouse about finances.

If more than a few of these apply to you. Through your own fault (overspending, not saving etc...). Or through happenstance (long term unemployment, medical emergency etc...) Get help. There are plenty of free financial counselors out there. Check local organizations first; churches, civic groups, your town government, assuming your town actually balances their budget.

Constipation

First My Wife Now the Feds

A guy can't get a break.

From CNN
Court allows agents to secretly put GPS trackers on cars

(CNN) -- Law enforcement officers may secretly place a GPS device on a person's car without seeking a warrant from a judge, according to a recent federal appeals court ruling in California.

Drug Enforcement Administration agents in Oregon in 2007 surreptitiously attached a GPS to the silver Jeep owned by Juan Pineda-Moreno, whom they suspected of growing marijuana, according to court papers.

It was bad enough that my wife secretly had a GPS chip implanted in my head while I was passed out after my bachelor party (shh she doesn't know that I am on to her) but now the cops can plant a GPS device on my car without a warrant. What is this country coming too? I'm sure the founder father's would have been more than ok with King George putting a tracking device under their horse's saddle.

I mean I accept that behavior from my wife, I figure it's implied in the marriage contract. It does present some difficulties after going for a run if I stopped for any length of time. "Honest honey I was in the porta-potty for half and hour, that chili con queso you made last night did a number on me. What's that? Why yes the porta-potty was inside a Hooters restaurant. Go figure."

Listen I am not advocating growing marijuana, at least not unless you are gonna share with a stressed-out father of 12. But do we really want the police sneaking around our houses and putting tracking devices on our private property? What's next? Mind reading chips? National identity cards (oh yeah they are in the works)? Medical information chips under the skin (oh wait another bad example)? There is a line of Brazilian lingerie that has built in GPS! Really! How romantic can you get?

Of course if they could implant a GPS device in my teenagers I just might change my mind....

Yo Mrs Half-Dozen Productions

I think someone had you in mind with this t-shirt. Tell that WingNut Dude to get ya one.

Buy, Buy American Pie

Lindsey Vonn Striped of Gold Medal

A quick tour of hyperinflation and the possible consequences for America by John Silveira

A quick tour of hyperinflation and the possible consequences for America by John Silveira Issue #122

Before and After

We have been told that being president is stressful on the president and first lady (not to mention the country). Now we have photographic proof. He are pictures of the last 6 presidents and their wives before entering office and upon leaving.