Home
>
Wealth Building
>
How to Have MORE Fun With YOUR Tax Refund in 2005

How to Have MORE Fun With YOUR Tax Refund in 2005

I counsel a LOT of people about money. I see the same mistakes being made over and over again.

If you've made 'em, don't worry. I'm here to help you do it right THIS year! The fact is, moneymakers need a money coach, just like gymnasts need a gymnastics coach.

As your MoneySmart(tm) coach, here are the mistakes in thinking and behavior I want you to avoid:

* Don't think of your refund as free money ? or lottery winnings. It's not! That refund is your hard-earned dollars that you loaned Uncle Sam interest free ? all last year.

* Don't spend the refund ? or OVERSPEND it - when you haven't gotten the cash in your hands yet.

* Don't spend the whole refund to pay down debt.

OK. So now you're MoneySmart(tm) about what NOT to do with that refund in 2005.

Next, here are my EASY MoneySmart(tm) moves that YOU can make to best handle your in'come tax refund this year.

First, divide your refund into thirds ? 3 equal amounts.

Why 3 equal amounts? Because we want to use that refund ? however small or large ? to handle the past, the present and the future.

Use one third to handle the PAST by paying down debts. Start with your most pressing debt?either the one with the highest interest rate, or the one with the biggest consequence for not paying it down.

Use one third for something you need or want in the PRESENT. If you can, use that money to have some FUN. Do something that is NOURISHING to you ? something that makes you feel GOOD. How about a mini-vacation, or an evening of fine dining and great entertainment, or a day at the spa?

***Of course, if the brakes on the car are shot, or you have some other pressing need, you'll need to do that FIRST.***

Finally, use one third to handle some aspect of your FUTURE. Here are several MoneySmart(tm) suggestions for you to think about.

*Put money in your Anti-Emergency? Fund. (see http://www.phelps-creek.com/archives/Anti-Emergency.htm for details)

*Put money in your Rainy Day Fund (see http://www.phelps-creek.com/archives/safetynet.htm for details) or save for your retirement through your 401(k), 403(b), IRA (traditional or Roth).

*Put money into college education funds (Coverdell IRAs or 529 plans) for your kids or grandkids.

Why is this "thirds" approach such a great idea? Because you'll be taking care of a variety of wants and needs ? AND taking several easy MoneySmart(tm) steps forward towards your BIG goal of financial freedom!

THAT is how you can have MORE fun with YOUR tax refund in 2005.

As always, if you have any questions, please go to my web page www.cindymorus.com for contact information. I'm here to be YOUR coach, and make sure YOU succeed.

Cindy

PS?

Now is also a GREAT time to "check out your paycheck":

* Re-evaluate how much money you are contributing to your 401(k) or 403(b).

* If you got a whopping refund, remember you were just sticking YOUR money in Uncle Sam's pocket. No point in giving Uncle Sam an interest free loan! Adjust your deductions so that you have just enough taxes withheld from your paycheck.

PPS?

If you're paying outrageous credit card charges (and so many people are) you'll definitely want a free copy of "A Credit Expert's Secrets: You Can LOWER Your Credit Card Interest Rates". With my MoneySmart(tm) coaching, you be able to save hundreds (or maybe thousands) in credit card interest payments this year. Get a free copy of "A Credit Expert's Secrets You Can LOWER Your Credit Card Interest Rates" when you sign up for at: www.cindymorus.com/newsletter.htm

Cindy Morus (http://www.cindymorus.com) is a Certified Financial Recovery Counselor specializing in showing women and their families how to achieve financial well-being and peace of mind. She is also a Certified Credit Report Reviewer. Get a free copy of the "A Credit Expert's Secrets: You Can LOWER Your Credit Card Interest Rates" e-book when you sign up for the "MoneySmart Nuggets" newsletter.

one time home cleaning Highland Park ..

In The News:

Privacy risks are hiding in plain sight, as your personal data is likely being collected, tracked, and sold without your knowledge.

VenHub, a fully autonomous, AI-powered smart store just opened at the LAX/Metro Transit Center in Los Angeles.

A woman's Facebook account takeover reveals dangerous social engineering tactics and provides lessons on recovery, avoiding scams and enacting stronger security measures.

Shanghai engineers are using 432 walking robots to relocate a complex, preserving Shikumen architecture while creating space for a modern underground hub and cultural center.

Major healthcare data analytics firm Episource had a cybersecurity incident exposing 5 million patients' medical records and personal information in recent breach.

A new sophisticated PayPal scam sends legitimate-looking emails from official PayPal addresses, using phone numbers instead of links to convince victims to download remote access tools.

Fox News' AI Newsletter brings you the latest on this rapidly evolving technology.

The innovative Kara Pod device extracts moisture from air to create mineral-rich water and brew coffee, featuring UV sterilization and compatibility with Nespresso pods.

Gov. Hochul unveiled New York's nuclear power plant project to power a million homes, which faces permit challenges while promising jobs and a cleaner energy future.

SAFE introduces Aerie, an underground luxury bunker combining high-end living with advanced security, wellness amenities and interactive walls simulating panoramic views.

A Facebook scammer posing as Elon Musk tricked a victim with promises of a Tesla and $250,000, requesting gift cards that become untraceable once the codes are shared.

Experience hands-free golfing with the Robera Neo smart caddie that uses AI to follow you, navigate obstacles and carry your clubs with GPS course mapping.

Cybersecurity alert: 16 billion passwords exposed in massive credential database affecting major platforms. Protect your accounts with password managers

The innovative BeBot robot uses electric power to remove pollution from shorelines, covering 20-30 times more area than manual collection while preserving wildlife.

A new ClickFix campaign targets macOS users with fake Spectrum support sites, tricking victims with CAPTCHA failures to paste commands that install information-stealing malware.

AI-powered autonomous trucks from Plus Automation are being tested across the U.S., Europe and Asia to solve logistics challenges while facing regulatory hurdles and labor concerns.

Your health information might feel private and secure with your doctor, but the reality is far more complicated. Data brokers collect a wide range of sensitive health data, from diagnoses and prescription details to personal identifiers, and sell this data to marketers, insurers, and other third parties.

Kepler Robotics has officially introduced its Forerunner K2 "Bumblebee" humanoid robot at the SAIC-GM automotive plant in Shanghai, marking a significant moment in the real-world deployment of advanced robotics.

Scammers never seem to be running out of new ways to try and get their hands on your money – and lately, they've been getting sophisticated.

Thirty people were injured and killed, though the exact number remains currently unknown, when a suicide bomber blew himself up in a Damascus church.

Unexpected password reset alerts signal potential hacking attempts or phishing scams. Learn how to respond and establish stronger security measures for your accounts.

A historic electric airplane flight landed at JFK with passengers, marking a milestone as Beta Technologies demonstrates the practicality and efficiency of electric air travel.

The Chaos ransomware group breached Optima Tax Relief in a double-extortion attack, stealing sensitive customer case files and corporate documents with personal information.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

The first human brain-computer interface by Paradromics was completed in 20 minutes, featuring microelectrodes to help paralyzed individuals control computers with thoughts.

How to Have MORE Fun With YOUR Tax Refund in 2005

Wealth Building