Facebook Week in Review: 04/11/11

11 04 2011

April 15

If you have a $4,000 balance on a credit card that charges 18 percent interest and you make the minimum payment on time each month, it will take you 45 years to pay off the balance. By the time you do, you will have paid almost $12,000 in interest in addition to the $4,000 balance. That’s if you’re never late with a payment and are never charged a late-payment fee.

Declare your Financial Freedom! We work hard for our money, let’s not treat it like it’s disposable. Focus on what really matters – we shouldn’t have to buy expensive things to keep up with our friends and neighbors; the items we own do not own us.

April 14

Happy birthday to you! There is a lot hype focused on TV “cake shows”. Not everyone is afforded the opportunity to spend $100+ on a such a decorative cake. How do keep expenses low — do you purchase boxed cake mixes found at the commissary (prices start at $0.89!)?

Stick to your Plan – Small every day costs can add up to big savings! If every day you saved the cost of $1.50 for bottled water, you’d contribute $547 into your TSP. Visit TSPs Ways to Save for more info and examples!

April 13

Thinking of boosting your TSP contributions? Unsure of where to find the “extra” money to do so? Use funds from the reduced payroll tax on Social Security and Medicare (6.2% to 4.2%)! This tax break is wonderful news for your household’s current cash flow, providing millions of taxpayers real and tangible benefits – everyone can now assume that their income will increase by 2%.

Spring and Summer bring outings, day trips and vacations. Factoring in tolls and gas when planning a trip helps to maintain an accurate and balanced budget. Also, with gas prices on the rise, you might just choose to stay local or find a less expensive travel alternative, all while saving money.

April 12

To all our Service Members and their Families – Military Saves wants to thank you for your military service and the sacrifices made each day. You are all performing amazing feats and it’s seen on all fronts. Military Saves is dedicated to helping our Military Community.

What do you think? It’s not how much you earn but rather how much you are spending that dictates wealth building. Could it be personal finance is strictly related to personal behavior and our abilities to curb spending?

April 11

Testimonials are a great way to motivate others! Do you have a story you’d like to share with the Savers? Maybe you paid off your car loan, saved enough money for a down-payment on a house, fully-funded an emergency fund.

A reminder to everyone that taxes are to be filed very shortly. Use the Armed Forces Tax Guide for use in preparing your 2010 tax returns. Take note of the deadlines available to service members.

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