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Post by surefire on Jan 1, 2009 0:57:36 GMT -5
www.msnbc.msn.com/id/28448852/My take: If California is going to make us wait to get refunds on our taxes, how about paying us some interest as well? Afterall, future value is worth less than present value. IMO, you could be damn sure the State would charge taxpayers interest if the tables were reversed.
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Post by Mink on Jan 6, 2009 0:18:11 GMT -5
I don't know if it is official, but it was added as the last statement in tonight's news that interest will be 5%.
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Post by moondog on Jan 6, 2009 14:06:22 GMT -5
I will believe it when I see it.
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Post by nufsaid on Jan 6, 2009 14:34:57 GMT -5
Fargin' wonderful. I had my work withhold an extra $40 per check for the state. I suck w/money so I figured if i couldn't get to it I couldn't spend it. This works out to $120/mo x12 which is...F&*$! $1440+the 200 I usually get back. Hope the tweakers, Mexicans, and dirtbags enjoy my money on check day!
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mrbose
Senior Member
Posts: 898
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Post by mrbose on Jan 6, 2009 15:10:16 GMT -5
An IOU that`s redeemable at Toco Bell
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Post by JustMyOpinion on Jan 6, 2009 16:18:11 GMT -5
Fargin' wonderful. I had my work withhold an extra $40 per check for the state. I suck w/money so I figured if i couldn't get to it I couldn't spend it. This works out to $120/mo x12 which is...F&*$! $1440+the 200 I usually get back. Hope the tweakers, Mexicans, and dirtbags enjoy my money on check day! You might want to see if your employer has a direct deposit option so that you can send your money to a savings account, and PRETEND it's not there! You could eventually invest the money, or find a money market account (they are low risk/low interest), or, or, or... Small interest is better than none, and once you've saved enough you could make your money work for you more aggressively. Gotta start somewhere! Now is the time to save for a rainy day especially since we have big, dark rain clouds looming over head... Just my 2 cents... |
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Post by nufsaid on Jan 6, 2009 17:24:08 GMT -5
You are correct. I just need to put money in a place that I can't get to, not just pretend is not there. Hell I also had work withhold an extra $ 60/check, $180/mo,$2160/yr for the feds.
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Post by moondog on Jan 6, 2009 18:45:18 GMT -5
Try a one year tax deferred CD. That way you can withdraw money only once per year.
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Post by surefire on Jan 6, 2009 20:09:26 GMT -5
I don't know if it is official, but it was added as the last statement in tonight's news that interest will be 5%. 5% is fair, but I'll believe it when I see it. |
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Post by Mink on Jan 7, 2009 0:22:34 GMT -5
I had the same thought too. It does sound fair........somehow, it is too good to be true.
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Post by JustMyOpinion on Jan 7, 2009 9:50:11 GMT -5
nufsaid, since you will have $3800 you could open a money market account. A CD is a good idea, or an annuity but they usually have penalties for (early) withdrawals, would that deter you? You could invest into the market..
I used to do the same thing years ago since I was a single parent and I knew that the only way I would have any money at the end of the year was to have higher taxes taken from my paycheck. I was able to pay for my son's braces that way. I'm not judging you, I understand, I guess I've been with my financial planner spouse for so long that my stripes have actually changed.
Even when we were both making top dollar we would buy groceries on sale with our Safeway club card, only buy gas at the cheapest gas station, use coupons for services, restaurants etc, only buy clothes on sale, on and on... It used to make me mad, at first, especially since we were making enough money to occasionally waste it and then I saw the light! Any money you can save and earn more money from will allow you freedom from debt and the freedom to buy something you want without guilt, or paying an inflated price for (interest). The catch? Sacrifice, and no immediate gratification, it takes patience, but so do most things in life that are worth while.
Anyway, good luck, and I hope you get your money back sooner, rather than later!
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Post by nufsaid on Jan 8, 2009 14:13:30 GMT -5
I appreciate the good advice. However I have the money marked for debt payoff aka evil credit cards. I made a decision a while back that i was sick of throwing money at the damn cc companies. Yes I know I was the one who got myself into this mess. There was a point in my life where child support was taking such a percentage of my income that I was using ccs for survival and racked up about 30 grand in debt. I'm down to about 9 grand currently and am planning to knock off 3 more w/my refunds.
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