If you Want to Feel Rich . . .

27 12 2011

Payroll Tax Cut Extended until February 2012

23 12 2011


The payroll tax rate will now be kept at 4.2 percent until the end of February. It had been slated to increase after December 31 to 6.2 percent.  Eliminating the payroll tax cut would have cost a family earning $50,000 a year about $40 per paycheck. That’s real money for working families.

Now, we know it sounds enticing to spend the money, however if you have not taken advantage of the payroll tax cut for the year 2011, now is your chance! 

Top 3 things to do with the increase:

  • Pay off Debt with this Extra Savings
  • Increase Retirement Contributions
  • Start an Emergency Fund

This is the perfect opportunity to accelerate debt repayment and a time to “beef” up your savings.  Yes, beef up is a financial term.

Happy Savings!

Read more about the tax cut and unemployment benefit extensions here and here.

Determined to Become Wealthy?

23 12 2011

Quoted from Dr. Thomas J. Stanley

What is a good rule if you are determined to become wealthy?

The market value of the home you purchase should be less than three times your household’s total annual realized income

If you’re not yet wealthy but want to be someday

Never purchase a home that requires a mortgage that is more than twice your household’s annual realized income

Holiday Spending 2010 [MyFICO]

19 12 2011

How do your numbers compare from last year?  MyFICO’s holiday statistics are here.

Giving: Stocking Stuffer Toy Drive

14 12 2011

What a busy time of year.  Yes?  Between the hustle and bustle, Rolist Financial Group accomplished some stocking stuffer shopping trips!  This year these amazing stocking stuffers will fill stockings for children in the city.  As always, we like to point out that every action helps and can make a difference in our world.

Fortunately we found sales which allowed us to stretch that dollar and fill more stockings than expected.  We picked up a few name-brand toys as well – Disney toys, Hanna Montana UNO, Littlest Pet Shop and Matchbox.

Total before sales:   $32.00

Total after sales:  $7.00

Happy Holidays!

Credit Card Contract Definitions [by CFPB]

13 12 2011

Many of us own credit cards and receive our monthly billing statement and mail in that payment.  What some of us may not know are the actual terms within the billing statement and credit card contract.  For example, a Grace Period is the time between a transaction date (aka the date the item was purchased) and the time payment is due (aka payment due date) to avoid interest charges.

For more definitions, read the Consumer Finance Protection Bureau’s definition list.

A Tax on Christmas Trees?

8 12 2011

Read more here, http://firstread.msnbc.msn.com/_news/2011/11/09/8720034-a-tax-on-christmas-trees

%d bloggers like this: