Come and visit some of our clients
A New Year, A New Attitude
Everyone that works and pays Social Security will receive a 2% raise this year courtesy of Uncle Sam. Your social security withholding tax is being reduced for 2011. For someone earning $50,000, that could be an extra $1,000 in your pocket for the year. Don't let that extra money sit in your bank account or wallet. Start putting it into your retirement account. You have one, right?
Set up a budget and track your expenses. You'll be amazed at the money that you spend and where it goes. Those $20 cash withdrawals at the ATM machine add up. Do you really need to spend $3 for coffee each morning? If you multiply that by 5 days per week, you're spending $780 a year on coffee. Use that money to pay down your credit card balance or student loans. If you are one of the lucky few that don't have either, put the extra money in that retirement account. The one you have, right?
Cut up those credit cards and use cash. Some of those items that you charge now become a little less "needed" when you see the balance in your checking account going down.
Keep track of that checking account balance. Paying overdrawn bank fees, credit card late fees, utility bill late fees is wasted money. Money you could have been putting into that retirement account.
Tear up those credit card offers in the mail or better yet, opt out of receiving them all together. Just call 1-888-5 OPTOUT.
You are responsible for your life and your retirement. Don't count on Uncle Sam or your kids.
