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Posts Tagged ‘Taxes’

What’s your Expense Freedom Day?

December 13, 2012 Leave a comment

Boiler Blast

Tax Freedom Day is a concept used to compare how much of your earnings go to taxes.  Basically, it assumes that everything you earn goes towards taxes 24/7 until you pay your share of taxes, to give you a feeling for how much of your income is used to run the government before you get to spend anything.

For example, if your effective tax rate were 25%, your tax freedom day would be April 1st (exactly 25% of the way through the year).  So then I wondered, how many days are you working just to cover your expenses?  For many people, it may be until December 31st, but it’s a useful exercise to understand the magnitude of each of our expenses. Read more…

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What to do with an extra $4,000?

December 12, 2012 Leave a comment

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So last week the lottery gave out a bunch of money ($500 million maybe?) and everyone was talking about what they’d do if they won.  Given that I’m much more likely to get hit by lighting, twice, I started thinking about events that are a little more certain… like my 2012 tax refund!

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My 2013 “Boring Financial Topics” Action Plan

December 6, 2012 1 comment

Candy1

When was the last time you go jazzed about tax withholding, or talked about your liability coverage at a party.  Sometimes I tend to avoid boring topics, and since these are fairly major costs to my budget, I decided it’s time to change.  So Here’s my plan.

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