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April
12, 2007:
Financial Spring Cleaning
Interview
with , Laura Rowley columnist For Yahoo Fianance www.moneyandhappiness.com
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Mike
Carruthers:
Since
spring is traditionally the time for cleaning, how about cleaning
up your finances? And a good place to start…
Laura Rowley:
Order your credit reports. That should be done at least
once a year because one in four reports contains significant errors,
significant enough to deny you credit or a job.
Laura Rowley,
who writes the Money & Happiness column for Yahoo Finance,
says if you're expecting a big tax refund…
Adjust your withholding
- the IRS says the average tax refund is about twenty-six hundred
dollars and most people say, "Yahoo, I got a big check
from the government." Well that's really a sign of poor
planning because what you really did is give the government
an interest-free loan for an entire year. You want to go to
your employer, ask for a new W-4 form that will reduce the amount
of tax taken out of each paycheck - you want to have that money
during the year.
And before it's
too late Laura says, plan your summer vacation now!
Here in the U.S.
people get an average of two weeks vacation. Even though we
only get two weeks, employees leave an average of four days
on the table. They don't take the time and the main reason for
not taking time off is not having scheduled that vacation time
in advance. So, what I would suggest is you schedule that vacation
right now, open an on-line savings account this week with a
hundred dollars in it and then link it to your checking and
have fifty dollars a week taken out of your checking account
and put in your savings - between now and August, you'll have
a thousand dollars saved up for that trip.
You can link
to Laura's website
from ours: somethingyoushouldknow.net
I'm Mike Carruthers and that's Something You Should Know.
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