Monday, June 13, 2011

Do you get a tax refund ever year???

Ways to get extra money in your pocket now.

1. Something we have done is changing our tax withholding. If you always get back a tax refund then that is a interest free loan that you are GIVING the government every year. So you can go to to see what your tax withholding should be. I heard something from Dave Ramsey and he said to divide your tax refund by 12 and that's how much you are overpaying. So for example:

3,000 (Refund)/12=$250 a month that you are overpaying and can be applied towards bills on a monthly basis. Think about much interest on that credit cards would you save in a year if you applied that 250 to it instead of letting the government make money off of you.

That's just my 2 cents for the day. :)

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