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11 Ideas To Spend Your Income Tax Refund

Feb 13, 2015 2

So, you just received your annual windfall via the IRS.  Yes, it’s refund time again for millions of American families.  If you did not get your billions back this year, don’t worry.  A few thousand is just right when you need some extra cash in your pockets.

However, here are a few helpful tips to consider when your refund is finally deposited into your account or you have your Treasury Check in hand:

WHAT TO DO WITH MY 2015 REFUND

1. Savings
Put over half of your refund in a saving account; the more you save, the better the return.

2. Pay Off Credit-Card Debt
Depending on how much your refund is, try to pay off at least one credit card.  If your debt is more than your refund, pay at least 10% more than the required amount.

3. Rebuild Your Emergency Fund
This is the time to start building that raining day fund back up.

4. Buy Stock
Invest some of your refund into some stock, your return may be greater than your next tax refund.

5. Build Your College Savings
Plan on going to college, start saving now.

6. Pay Up On Your Student Loan
That student will not disappear, pay a large some each year in addition to regular payments and watch has fast that loan decreases.

gnn tax-refunds7. Car Loan
Pay at least one extra car note up, it saves on the back end.

8. Pay Up On A Couple Of Bills
If you are not caught up on your regular bills, go ahead and caught up on them now. If you are,  pay ahead on a few.

9. Invest in Your Home
Need new carpet, refrigerator, stove, etc. now is the time to find great deals and improve on your home.

10. Take a class
There is nothing better than learning something new, it’s allows great to invest in yourself.

11. Start a Business
Waiting to start a business, let’s get rolling.  Begin with the paper work, trade name, business license, LLC formation, business bank account, and you’re ready to GO!

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“Rappers” Did You Know?

Oct 10, 2014 0

By Connie Alsobrook

Skarr Akabr
Baltimore rapper Skarr Akbar gave away 46 pairs of his personal sneakers plus a bag of shirts, sweatshirt, and sweaters, in 2013 to the homeless.


Nasir bin Olu Dara Jones “Nas”
Multi-platinum rapper Nas help raise $30,000 for D.C.family left homeless after a fire. He also raised $60,000 dollars to an unemployed construction worker and single father of 8 children that lost his home in a fire.
Nas recently started investing money to help Grads find jobs.


Aubrey Drake Graham “Drake”
When Grammy Award winning Canadian Rapper Drake performed in Portland, Oregon last winter he witnessed a
serious epidemic of homelessness. Drake gave a huge cash donation to the
Union Gospel Mission to buy more blankets for the city’s homeless


Clifford Joseph Harris, Jr. “T.I.”
Three time Grammy winner Rapper T.I. saved the life of two men, one in Miami, Florida and another in Atlanta, Georgia.


Jayceon Terrell Taylor “The Game”
Grammy Nominated Rapper The Game helped with the funeral cost of two families. He donated 10,000 dollars to with funeral cost for a mother of five that lost her children and boyfriend in a house fire. He also donated several thousand dollars to help out with another funeral after a 6-year-old girl was shot and killed in front of her home.

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Great Reasons To Keep Driving That Older Car

Sep 10, 2014 2

By Connie Alsobrook

old burnt car

Driving an older car gives the perception of not having any money to
purchase a new car. Why else would you be driving an car over 10 years
old. There are tons of reasons to drive your vintage car until, as they
“until the wheels fall off”.

Some individuals hold on to their older model cars for sentimental purposes. Automobiles are sometimes  passed down to another family member and even gifted in a will.  When this happens it makes giving up your vehicle very difficult because of all the precious memories that were experienced in that particular car.

While most of us love our old cars, and bragging rights as to who has the most miles, sometimes we do have to let go. Weigh your options and make the best decision for you and your family, not because someone else thinks you look better in a new car.

Here are a few things to consider……………………..

SAVINGS If you have had your car for more than 10 years, chances are you do not
have a car payment. Car payments minimum are about 250.00 per month, so
let say you have not made a vehicle payment for the last 5 years. You
would have saved at least 15,000. Throwing money into a new car just for the sake of having a newer model is not always the best decision. Again with a new car comes extra expenses, the up keep along is pricey.

INSURANCE The longer you have your automobile the less you pay for car insurance, and taxes. In some states if you keep your vehicle over 20 years it
is considered to be an antique and you are eligible for a tag that represents that.

MAINTENANCE When you have been driving your car for a number of years
you become very familiar with it and know immediately when there is a
problem. Parts for an older cars can be easily found at savage/junk yards.
Regular mechanic shops can service your vehicle, they are not required to visit a dealer, which will charge you twice as much for repairs.

RELIABILITY/SAFETY This is the most important thing when considering keeping your car.

  • Is your car unreliable in it’s old age?
  • Has your car left you stranded?
  • Is it unpredictable? Are there major
  • issues that need to be repaired that you cannot afford?
  • Are you locks still working?
  • Do your seat beats function properly?
  • Is it polluting the environment?
Reliability
Reliability

Here is a list of estimates for common replaced car parts to give you an idea of car payment vs repairs.

Spark Plugs $4.00 – $30.00
Alternator $120.00 – 300.00
Fuel Pump $179.00 -$226.00
Water pump $80.00 – $600.00
Clutch $15.00- $500.00
Starter $150.00 – $450.00

 

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Be advised that if you are spending too much money each month to repair your automobile you may want to consider purchasing another vehicle.

 

 

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