Home
>
Wealth Building
>
How to Have MORE Fun With YOUR Tax Refund in 2005

How to Have MORE Fun With YOUR Tax Refund in 2005

I counsel a LOT of people about money. I see the same mistakes being made over and over again.

If you've made 'em, don't worry. I'm here to help you do it right THIS year! The fact is, moneymakers need a money coach, just like gymnasts need a gymnastics coach.

As your MoneySmart(tm) coach, here are the mistakes in thinking and behavior I want you to avoid:

* Don't think of your refund as free money ? or lottery winnings. It's not! That refund is your hard-earned dollars that you loaned Uncle Sam interest free ? all last year.

* Don't spend the refund ? or OVERSPEND it - when you haven't gotten the cash in your hands yet.

* Don't spend the whole refund to pay down debt.

OK. So now you're MoneySmart(tm) about what NOT to do with that refund in 2005.

Next, here are my EASY MoneySmart(tm) moves that YOU can make to best handle your in'come tax refund this year.

First, divide your refund into thirds ? 3 equal amounts.

Why 3 equal amounts? Because we want to use that refund ? however small or large ? to handle the past, the present and the future.

Use one third to handle the PAST by paying down debts. Start with your most pressing debt?either the one with the highest interest rate, or the one with the biggest consequence for not paying it down.

Use one third for something you need or want in the PRESENT. If you can, use that money to have some FUN. Do something that is NOURISHING to you ? something that makes you feel GOOD. How about a mini-vacation, or an evening of fine dining and great entertainment, or a day at the spa?

***Of course, if the brakes on the car are shot, or you have some other pressing need, you'll need to do that FIRST.***

Finally, use one third to handle some aspect of your FUTURE. Here are several MoneySmart(tm) suggestions for you to think about.

*Put money in your Anti-Emergency? Fund. (see http://www.phelps-creek.com/archives/Anti-Emergency.htm for details)

*Put money in your Rainy Day Fund (see http://www.phelps-creek.com/archives/safetynet.htm for details) or save for your retirement through your 401(k), 403(b), IRA (traditional or Roth).

*Put money into college education funds (Coverdell IRAs or 529 plans) for your kids or grandkids.

Why is this "thirds" approach such a great idea? Because you'll be taking care of a variety of wants and needs ? AND taking several easy MoneySmart(tm) steps forward towards your BIG goal of financial freedom!

THAT is how you can have MORE fun with YOUR tax refund in 2005.

As always, if you have any questions, please go to my web page www.cindymorus.com for contact information. I'm here to be YOUR coach, and make sure YOU succeed.

Cindy

PS?

Now is also a GREAT time to "check out your paycheck":

* Re-evaluate how much money you are contributing to your 401(k) or 403(b).

* If you got a whopping refund, remember you were just sticking YOUR money in Uncle Sam's pocket. No point in giving Uncle Sam an interest free loan! Adjust your deductions so that you have just enough taxes withheld from your paycheck.

PPS?

If you're paying outrageous credit card charges (and so many people are) you'll definitely want a free copy of "A Credit Expert's Secrets: You Can LOWER Your Credit Card Interest Rates". With my MoneySmart(tm) coaching, you be able to save hundreds (or maybe thousands) in credit card interest payments this year. Get a free copy of "A Credit Expert's Secrets You Can LOWER Your Credit Card Interest Rates" when you sign up for at: www.cindymorus.com/newsletter.htm

Cindy Morus (http://www.cindymorus.com) is a Certified Financial Recovery Counselor specializing in showing women and their families how to achieve financial well-being and peace of mind. She is also a Certified Credit Report Reviewer. Get a free copy of the "A Credit Expert's Secrets: You Can LOWER Your Credit Card Interest Rates" e-book when you sign up for the "MoneySmart Nuggets" newsletter.

professional maid services Glencoe ..

In The News:

Cybersecurity expert shares six essential steps to protect against dark web threats, including data removal services, password managers and antivirus software.

NVIDIA GPU space mission could revolutionize cloud services by enabling orbital data centers that make apps, games and AI tools faster and more efficient.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Microsoft warns Windows 10 users face serious security risks as 90% of ransomware attacks target unsupported systems. Learn why upgrading to Windows 11 is crucial.

Nike unveils Project Amplify, revolutionary motorized shoes developed with Dephy that add powered assistance to every step for runners and walkers.

Cybersecurity experts warn about one of the largest credential compilations ever found, urging users to check "Have I Been Pwned" and change passwords immediately.

Quick iPhone and Android battery optimization techniques help your device stay powered all day by turning off hidden features that secretly drain power in the background.

Kodiak Driver autonomous truck achieves perfect 98 safety score, matching top human fleets in groundbreaking AI evaluation by Nauto's VERA system.

New 401k catch-up contribution rules in 2026 will change taxes for high earners over 50. Learn how scammers exploit these changes and protect your retirement savings.

Kurt Knutsson's guide covers social media privacy protection through location settings, account privacy controls and two-factor authentication to prevent scams and data breaches.

Revolutionary retinal implant restores central vision in 80% of patients with advanced macular degeneration, offering hope where treatments once only slowed blindness.

Learn how to use passkeys on Windows and Mac computers without cameras or fingerprint readers. Discover secure authentication methods that replace passwords.

Tesla's FSD v14.1.2 update reintroduces Mad Max mode, enabling higher speeds and more frequent lane changes than the standard Hurry profile setting.

A phishing email scam targeting American Express customers shows how cybercriminals use fake urgent messages to steal personal and financial information.

Facebook's new Meta AI feature analyzes your camera roll photos to create polished collages automatically, but requires cloud processing and raises privacy concerns.

A New Jersey teenager filed a major lawsuit against AI/Robotics Venture Strategy 3 Ltd. over ClothOff, an AI tool that created fake nude images from her social media photos.

Microsoft reports Storm-2657 cybercriminals sent phishing emails to 6,000 addresses at 25 universities to steal payroll credentials and redirect funds.

Astronomers have discovered asteroid 2025 SC79, a skyscraper-sized space rock orbiting the sun in just 128 days. the second-fastest known.

The Fox News AI Newsletter delivers the latest developments form the world of artificial intelligence, including the technology's challenges and opportunities.

A cyberattack on SimonMed Imaging exposed personal information of 1.2 million patients, including medical records, financial details and identity papers.

Spotify's managed accounts for kids under 13 now available in at least seven countries, allowing parents to filter and block explicit content and songs.

Friendly text conversations about BBQs and social events can lead to WEEX gold trading scams that target older adults with fake investment opportunities.

California company Skyeports creates self-healing glass spheres from Moon regolith that generate solar power and support plant growth for sustainable lunar living.

Cleafy researchers discover fake VPN streaming app Mobdro Pro that installs Klopatra banking Trojan, giving attackers full control over Android devices.

Police departments across the U.S. and Canada are adopting virtual reality training to better prepare officers for high-pressure, real-world situations.

How to Have MORE Fun With YOUR Tax Refund in 2005

Wealth Building