Facebook Month in Review: 12/2011

2 01 2012

December 30

Just married? Are you new parents? Make sure your SGLI beneficiaries (primary and secondary) are current and up-to-date.

December 28

Success cannot be purchased. It begins with your actions – choose to be savings ready, reduce risk with proper insurance, commit to debt repayment and set aside money for retirement. Success = having your financial house in order.

December 27

How satisfied are you with your current financial situation? 26% of military respondents answered ‘Satisfied’.—FINRA 2010 Military Survey for Financial Capability in the U.S.

December 25

A Merry Christmas wish from Military Saves to military families around the world!

December 23

Money is not the most easily renewable resource. Live within your means but not over your needs.

Build your Savings Arsenal with the help of our Savings Tracker! Start the New Year with this handy print-out that tracks your progress for each quarter.

Approved today is the 2-month extension of the payroll tax cut and unemployment benefits. What does this mean for Americans? The payroll tax rate will now be kept at 4.2% until the end of February 2012 but jumps to 6.2% in March. This means a salary boost of about $20/wk for those earning $50,000/yr. In addition, almost 2 million unemployed people will receive unemployment benefits for another 2 months averaging $300/wk.

As we had posted this topic in June 2011, it may prove helpful now given this extension was approved: Thinking about bumping up your TSP contributions this year? Remember, Social Security taxes were reduced by 2% (6.2% to 4.2%) for the year 2011 (they revert to 6.2% in 2012). This means we are taxed 2% less than last year. Looking to increase Thrift Savings Plan (TSP) contributions? Bump up your contribution percentage by 2%. Refer to Kiplinger’s Tax Cut calculator to view how much money is saved from each paycheck. http://www.kiplinger.com/tools/2011_Social_Security_payroll_tax_cut_calculator/

December 21

We want to know – what are some of your favorite holiday traditions? Planning new ones or sticking to the old this year? (many of the best are free)

When you work towards saving it will eventually become your way of life. A life filled with surplus.

December 20

Commit to put unexpected income (gifts, etc) toward debt repayment.

December 19

Lean Mean Saving Machines – Our military savers know how to adapt and overcome. Keep up with the good work – financial success is yours!

December 16

Last year, consumers budgeted an average of $384 for holiday gifts—Conf Board Christmas Spending 2010. This figure is achievable . . . right?

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