Dr. Penelope Tzougros
For some of you the idea of not balancing your checkbook is a heresy. It is unthinkable that you would not know down to the penny how much was in the account and which checks were waiting to be cleared.
For others it is natural to not balance a checkbook and you have instead a “rough” idea of what the balance is. For you, it is relief to find this article that is not yelling at you for something you don’t want to do. You can show this article around to your critics and feel justified.
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Dr. Penelope Tzougros
When you invest in your company’s retirement plan or in a Traditional IRA, you benefit in two ways. The first is an investment for your retirement, and the second is a tax advantage. Are both of them “saving” money? What do we mean when we use the word “Save”?
If you send $2,000 off to a retirement plan where the contributions are deductible, when you complete your income taxes you are reducing the amount that you will be taxed on by $2,000. If you earned $36,000 for the year, and added $2,000 to your retirement plan, then the calculation for your taxes starts as if you earned $34,000. Let’s suppose your marginal tax rate is 25%. This one investment could adjust your taxes, so that you pay $500. less in taxes. Here’s the arithmetic: $2,000 x .25= $500.
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Click to listen with Penelope: ‘Money with Laughter and Praise’
Dr. Penelope Tzougros
A new year, old habits, high hopes and low resources— what to do with your money this year? Laugh. I know you are supposed to buy file folders. Make order. I say laugh and praise yourself.
Laugh. Laughter is the sweet energizer, the safest painkiller, the best organizer.
Praise your stick-to-it-ness– you made it to this new year; whether you are reading this on January first or July 14th —you can reckon a new year from any day.
So when you look at credit card balances that you cannot pay off this month or the next, or the next…, slap your thigh and laugh, saying, “I am royal and don’t even know it. I must be because I am living way bigger than my income. Just how royal am I? How much would I need to make a month to pay this off as if it were just like my small phone bill? What kind of job would bring in that kind of income?”
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Today’s edition of Wealthy Choices asks you,”What is your stuff factor, and why does it matter?”
Dr. Penelope Tzougros
Have you been impressed by the fact that people are buying storage units to hold their furniture or overflow of possessions? I have wondered about it. I thought that such storage units were only for people in transition. Moving from one home to another and having to store household goods until they could move in to the next property. Or maybe an inheritance of valuable antiques that did not fit the decor and had to be stored until they could be sold. But it seems that a good deal of the reason for such storage is there is just too much stuff in the house and people are crowded in their living space but unwilling to sell or give away the items.
This complaint of overcrowding is corroborated by hearing from so many people who are trying to sell their homes that realtors have told them to remove items and clutter to make the rooms more appealing to a prospective buyer.
Why do we have so much stuff? Is it necessary? Is it nesting material? Is it thoughtless accumulation? Is emotionally significant? artful? comforting?
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