We Want To Hear Your Debt Elimination Story!
August 14, 2009 by Erik Folgate
Filed under Credit and Debt, Economy
Do you have a great story about how you became debt free? Did you sell a bunch of stuff, make sacrifices to speed up your debt elimination? What’s your story? Maybe you started getting out of debt, and you are on track to destroy your elimination goals. We want to hear your story, too!
Still in debt? Read my debt elimination series.
The Prize
Five Money Tips For People Not Struggling During The Recession
April 27, 2009 by Erik Folgate
Filed under Economy, Spending and Saving
There are many people struggling right now to pay their mortgage and other bills because they either lost their job or bought a house they could not afford. However, for every person struggling right now, there are a majority of people who are doing just fine in this economic climate. Yes, most of us saw our retirement accounts rapidly decline, but there is plenty of time to recoup those capital gains lost. Many financial blogs are focusing on those of you who need help the most, but the rest of you are being left out. So, here are five money tips for those of you who are NOT struggling with money right now.
Dave Ramsey’s Town Hall Meeting For Hope
April 14, 2009 by Erik Folgate
Filed under Economy
For those of you who are Dave Ramsey fans or those who are looking for a positive message about the economy and your finances, Dave Ramsey will be hosting a town hall event all across the country on Thursday, April 23rd.
Here is the link to the official site to find a place near you that is hosting the event: Dave Ramsey’s Town Hall for Hope
Look For The Make Work Pay Tax Credit In Your Paychecks
April 4, 2009 by Erik Folgate
Filed under Economy, Politics, Taxes
President Obama asked employers to start making adjustments to federal withholdings starting April 1st for the Make Work Pay Tax Credit. This was a stimulus-based tax credit that passed in the recent economic stimulus legislation passed in February. Last year’s stimulus plan sent lump-sum checks to individuals and couples with the hopes of these individuals putting the money back into the economy. This year’s plan will systematically distribute the tax credit in your paychecks.
Who Is Eligible?
Will Obama’s Housing Rescue Plan Work?
March 4, 2009 by Erik Folgate
Filed under Economic Policy, Economy, Politics, Real Estate
Obama is making an effort to rekindle the housing market, and here is a good article outlining his propose plan.
I think the housing market is the key to jumpstarting our economy again. Everyone is focusing on the financial services and auto industry, but I think the real estate industry is the key to an economic recovery. I don’t like the idea of bailing out people, not because I don’t have a heart, but because buying a home is a risk. Failure is not always such a bad thing. Anyway, we are going to bail them out, and we’ll see how Americans respond to this gift.
Dow Jones Index Drops to 6800 For The First Time In 12 Years
March 2, 2009 by Erik Folgate
Filed under Banking, Credit and Debt, Economy
I don’t know what to tell you. Even Warren Buffet has lost confidence in our economy. Much of the country is not paying attention to the fact that we are 10 percentage points away from nationalizing a bank, the government pledging about $1.5 trillion dollars in 6 weeks, and the largest insurance company and auto maker dwindling to nothing.
Here are my thoughts on why the stock market continues to go south:
- Investors are reacting negatively to the massive amounts of spending in the Obama economic recovery agenda.
The Final Breakdown For The 2009 Economic Stimulus Bill
February 17, 2009 by Erik Folgate
Filed under Economic Policy, Economy
President Obama signed the economic stimulus bill into law today in Denver. The Wall Street Journal has a great breakdown of the final allocations of money inside the bill. It is broken down by categories, and I love that they designate one category as “Spending”, because that’s exactly what quite a bit of this bill has in it. There is a ton of money allocated to projects that definitely could have been left out of a bill coined as an economic stimulus bill. But, it is what it is, and we need to hope and pray that it does something to bring the economy back to what it was a couple of years ago.
The Stimulus Package Passed: Should You Factor In An Extra $10,000 to Your Debt Snowball?
February 13, 2009 by Erik Folgate
Filed under Economic Policy, Economy, Taxes
According to the House Minority Leader in Congress, the American people will be taking on an average of $10,000 in debt per person due to this stimulus package that just passed.
“With a price tag of more than $1 trillion when you factor in interest, it costs every family almost $10,000 in added debt. This is an act of generational theft that our children and grandchildren will be paying for far into the future.”
Update On the Final Version Of The 2009 Economic Stimulus Plan
February 12, 2009 by Erik Folgate
Filed under Economic Policy, Economy
Tidbits of the final version of the economic stimulus plan are being released, and I am guessing that not many people will be happy about it.
Here is the full story from the AP wire, via Fox News. (this is an AP story, not a Fox News story)
$13 More Per Week in Everyone’s Paycheck . . .
It looks like these tax cuts are not going to be tax credits like last year’s checks which were advances on a tax credit created for 2008. They will merely restructure the tax brackets, which on average, will put another $13 a week in your pocket. Doesn’t sound too exciting, does it? Will this change your world and help you pay your bills more? Please comment below.
The Proposed $15,000 Tax Credit For Home Buyers in 2009
February 9, 2009 by Erik Folgate
Filed under Economic Policy, Economy, Real Estate
If you were thinking about buying a house this year, you might need to get serious about buying wthin the next few months. There have been rumors that the final economic recovery bill currently being debated by the Senate could include an amendment to help stimulate home buying in the coming year. A few Senators have proposed a $15,000 tax credit for ALL home buyers from the date that the bill is signed into law extending for one full year.
Last July, a bill was signed into law that included a $7,500 tax “credit” for first-time home buyers. Here are the differences between the credit that is active now and the one that has been proposed.
