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Thread: FORT Koffee Klatch

  1. #23141
    FORT Fogey Miss Scarlet's Avatar
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    Re: FORT Koffee Klatch

    Quote Originally Posted by prhoshay View Post
    That is interesting, mainly because I don't agree with it at all.

    First off, it mentions people who may not be able to make a car payment without lowering their taxes paid through payroll. Well, maybe they should have thought of that & bought a less expensive car that they could afford. Or maybe, heaven forbid, put a small amount aside each payroll in a car savings account. Even $10.00 could make a difference if accumulated for a few years. Let's face it. Darned near everyone wastes at least $10.00-$20.00 per month on stuff like lattes, fast food, any eating out, & loads of maybe fun, but unnecessary stuff. If they have trouble paying their bills that makes this stuff even more unnecessary. Not to mention Direct TV bills. Really, that's a luxury not a necessity.
    The same goes for not being able to afford rent payment. Find a less expensive place to live.

    This is a huge problem with our society. Overindulgence to the point of not being able to afford it. The question is "Do you NEED it, or do you WANT it?" First you pay your bills. Second you put a little in savings. Then you can spend what's left on any WANTS you care to. Not before.

    Next the writer brought up that this tax money could be saved or invested to earn money rather than the government doing that. Have you seen the Interest Income rates lately? They're darned near non existant. The trouble of figuring out how much more you will have that way, taking that amount every single paycheck & depositing it into an account you absolutely will not touch 'till tax time, sticking to this plan & seeing what you've made will amount to only a couple of dollars during the year. $Maybe $5.00 to $10.00 on that $3,000 tax refund mentioned if you're lucky.
    Is it worth that for all the trouble, not to mention temptation to spend "your" money?
    Personally I don't think so.

    I'm more financially disciplined than nearly everyone I know, but I wouldn't bother doing that. Let the government have my $5.00 as savings fee. That way the money will come back every year as a lump sum into my special account where I'm less likely to dip into it.

    It amazes me that anyone with any financial expertise would recommend this. Especially to people who may have trouble saving to begin with. They're just being set up for disaster at Tax Time.
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  2. #23142
    Signed, Sealed, Delivered prhoshay's Avatar
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    Re: FORT Koffee Klatch

    I guess the question really is would you rather the government hold onto your money or would you rather hold onto it yourself.

    Many years ago, I remember my payroll clerk having that exact discussion with me......of course, those were different times, too.
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    "...each affects the other, and the other affects the next, and the world is full of stories, but the stories are all one." - Mitch Albom, one helluva writer

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  3. #23143
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    Re: FORT Koffee Klatch

    I like the point in the article about how you can control and access that money anytime if you keep it for yourself, while the IRS won't cut you a check if your car breaks down. Good point. In my household we get a refund, but it's only because we can never seem to get it right. Every year we think we've gotten close but still end up with money back. For me, I'd much rather have that coming in consistently each week than consistently overpaying.

  4. #23144
    FORT Fogey Punkin's Avatar
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    Re: FORT Koffee Klatch

    I'm with Miss Scarlett! Back in the day when interest rates were crazy good it would make sense to invest it, but now, why bother.
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  5. #23145
    FORT Fogey Miss Scarlet's Avatar
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    Re: FORT Koffee Klatch

    Quote Originally Posted by coltnlasma View Post
    I like the point in the article about how you can control and access that money anytime if you keep it for yourself, while the IRS won't cut you a check if your car breaks down. Good point. In my household we get a refund, but it's only because we can never seem to get it right. Every year we think we've gotten close but still end up with money back. For me, I'd much rather have that coming in consistently each week than consistently overpaying.
    True, if your car breaks down the IRS won't send you a check, but if you do have the presence of mind to set up a tax account, & then dip into it for car repairs, do you really think you'd pay it back before Tax Season?
    I know I wouldn't & like I said, I'm a financial nit picker. Once it's gone, it's gone, especially if someone isn't the kind of person who saves in advance.
    What happens in cases like that is that people are left with tax bills in the end, sometimes at a time when they can least afford it. After all, Tax Time comes after Christmas Time.
    For most people having a little extra coming in each payday would only mean spending a little extra.
    Most people are spenders not savers.

    In the end, getting a decent sized refund enables me to save substantially in an emergency fund. I'm never living hand to mouth. I don't pay in arrears, but save in advance. Except for buying my house. That would be a little extreme saving even for me.
    "Is this Heaven? No, it's Iowa. --Field of Dreams--"

  6. #23146
    Signed, Sealed, Delivered prhoshay's Avatar
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    Re: FORT Koffee Klatch

    Quick, immediate access if you need it?
    Last edited by prhoshay; 04-15-2014 at 06:02 PM.
    "...each affects the other, and the other affects the next, and the world is full of stories, but the stories are all one." - Mitch Albom, one helluva writer

    When you throw a rock into a pack of dogs, you know which one you hit by the one that yelps!

  7. #23147
    FORT Fogey Miss Scarlet's Avatar
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    Re: FORT Koffee Klatch

    Quote Originally Posted by prhoshay View Post
    Quick, immediate access if you need it?
    I've got it. and for somewhat substantial amounts. That's what my emergency fund is for.
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  8. #23148
    Signed, Sealed, Delivered prhoshay's Avatar
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    Re: FORT Koffee Klatch

    I guess you could always set up your own escrow account, if you have that kind of strength and dedication instead of lumping it in with all of your other monies. I think you would be less apt to spend it on frivolities with a completely separate account.
    "...each affects the other, and the other affects the next, and the world is full of stories, but the stories are all one." - Mitch Albom, one helluva writer

    When you throw a rock into a pack of dogs, you know which one you hit by the one that yelps!

  9. #23149
    FORT Fan NorwIndian's Avatar
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    Re: FORT Koffee Klatch

    Hi friends! I hope everybody is doing well. I'm doing ok. Getting stronger every day.
    I apologize for interrupting the conversation but I desperately need some advice.


    My sweet, beautiful, loving, caring, giving daughter has just found out that her husband has been having an affair for the past year. I want to hurt this selfish s.o.b, (it's a good thing that I can't swear here).
    My girl is broken. I don't know how to help her. I've listened, offered advice and have just been here when she needed me. I wish she was a little girl again, I could fix her troubles then but I can't now and it's killing me.
    I don't know what to do to help her. She keeps asking me what's wrong with her that he would do this or what she did wrong. Its not her, he is the most self centered, selfish person I've ever known. He cares about nothing but himself. I've kept my mouth shut about a lot of things over the years.
    She gave all of herself to him. She is a great wife and he just s*** all over her. I hate him more than I have ever hated anybody in my life for doing this to her and my grandkids. They don't deserve this.

    Do any of you have any advice on what I can do to help her? I want to take her pain and put it on myself but of course I can't do that. I'm heartbroken for her. She gave everything she had to this relationship and he does this to her. I hate him so so so much.
    Thanks for letting me vent.

    I hope you're all doing well! I haven't felt like commenting but I've been keeping up by reading here when I can.
    As for me, I'm plugging along. Recovery is going slowly but surely. I just hope this body cast will come off before the really hot weather starts.

    Going way back to the earthquake conversation you all had pages ago: I've been through a lot of earthquakes. I was visiting my brother when a hurricane hit. I'll take an earthquake any day! By the time you realize "oh crap, that's an earthquake" its over! As a native Californian I'm used to the earthquakes.
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  10. #23150
    CCL
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    Re: FORT Koffee Klatch

    Oh no. Having never been in the situation I don't have specific advice. Hopefully others do.
    If you type "google" into google you can break the internet.

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