Free Family Finance — simple, conservative thoughts on money & finance.

Money Hacks Carnival: Middle Name Pride Day Edition

3.11.10

in carnivals

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Better Late Than Never…And my middle name is Sherman. I’m embarrassed.

Money Hacks Carnival: Middle Name Pride Edition is up. Thanks to @mbhunter for hosting.

The Carnival includes the fff post, “Politicians to Return Stolen Money“. Hecks yes!

For more info on the Money Hacker Carnival or Mighty Bargain Hunter, click on over.

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3 Reasons To NOT Be Excited About Your Tax Refund

3.3.10

in taxes

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This time of year always sickens me. It is tax season. Sure, I am sickened by the amount of taxes I have to pay, but I am even more sickened by the attitude of folks when they receive their returns.

I get it. I do. It is fun to get a few hundred dollars in the mail. You can’t argue against that. But there are a lot of other things you CAN argue against. Today we are going to look at 3 reasons why you shouldn’t be excited about getting your tax return.

It is YOUR money! – It is not a gift. It is a return. It is your money! After months of the worst type of financial captivity, your money is returned to you. [Enter Point #2]
It is NOT accompanied by interest! - Why is this type of financial captivity is so bad? Because it doesn’t pay interest. In effect, it is the worst savings plan ever. What is the purpose of a savings account if they don’t pay you for the use of YOUR money?! The opportunity cost of putting that money in a moneymarket account equates to $100’s of dollars. That is $100’s that you miss out on.
YOU had to pay the costs associated with reclaiming your money! – Not only is your money tied up in an interest-free account, but you pay the fees associated with reclaiming it. You must perform the paperwork, hire the accountant, and have the money fight with your spouse. You! You lose out on $100’s in interest and then spend $100’s to ask for your money back.

As of 2006, the tax preparation industry in America had revenues of over $65 BILLION dollars. That is money that goes to tax professionals for the services they provide. I am certainly not mad at tax professionals, but I am a thinker. And something seems very obvious here. If we reformed our tax system to eliminate some of the red tape, we could save BUTT-LOADS of cash.

Before you get all jazzed about your tax refund, take a moment and ponder the ‘what-if’s’. What if you had kept your money all along? What if it had hundreds of dollars in interest with it? What if you hadn’t paid hundreds in accounting fees?

Doesn’t that sound nice?

photo | woolloomooloo

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Politicians To Return Stolen Money [Breaking]

3.2.10

– Washington D.C. –
After over a year of deliberation, U.S. Officials will return money taken from taxpayers.
Following months of searching for other ways to spend taxpayer money, officials in the U.S. capital have announced today that they will return the remaining money. Initially,the politicians had planned to use the stolen resources towards resuscitating dead companies, [...]

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What Hawaiian Coffee Growers Can Teach Us About Money

3.1.10

The story behind First Fruits. The following is a guest post I wrote last month for dollarsanddoctrine.com.

The following is an excerpt from the Freakonomics Blog. If you haven’t read the book, you really should. It’s fantastic.
The price offered to coffee growers who turn in their “cherries” — ripe coffee beans — at Greenwell Farms in [...]

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Batten Down The Hatches – Credit Card Pirates Are Coming

2.22.10

Shiver me timbers! The government shake down on credit companies is in full swing, as of today.
The CARD Act, which President Barack Obama signed May 22, dramatically changes the way card issuers can profit from plastic.
Although the dramatic changes came into affect today, credit card companies have been preparing since May:
For example, 35 percent of [...]

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1 Cent = No Sense

2.19.10

We’ve previously discussed “7 Good Uses For A Penny“. None of which include currency. But now the US Mint has redesigned the penny in an attempt to save the penny from its impending doom.
“the U.S. Mint has introduced a new penny, which may be showing up in your pocket change any day now.”
The front of [...]

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$500M per Year for Google – In Typos!

2.18.10

Google may be earning an alleged $500 million a year via companies and individuals who register deceptive website addresses.
Some Harvard students have been keeping the calculators hot. They have calculated Google’s estimated revenue earned from the Google Ads placed on the sites of typosquatters.
The claim centres on a controversial scheme known as “typosquatting”, the practice [...]

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Vote For freefamilyfinance.com!

2.17.10

freefamilyfinance.com needs your help!
We are participating in a financial blog March Madness competition. It is a huge bracket of 64 different financial posts. The posts are matched up against either other and voting determines who moves on to the next round.
Below you will find a link to today’s two match-ups. [...]

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Credit Cards: 4 New Riskier Rewards

2.17.10

The government might be putting pressure on credit card companies, but credit card companies are returning the favor by putting pressure on you!
Recently the federal government introduced stricter laws upon the credit card industry. But they are exactly rolling over. They aren’t satisfied with the lower profit margins, so rewards credit card companies are finding [...]

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10 Things The Jewelry Store Won’t Tell You

2.15.10

With Wedding Season & Valentine’s Day right around the corner, you might be shelling out for some bling. If so, here are 10 things they won’t tell you at the jewelry store and my thoughts on each.
1. “Our prices are on the rise.”
After increasing 23% in 2009, the price per ounce of gold this year [...]

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