Tag Archives: Budget
How to Create a Low Income Budget
As many of you know, I’m now working full time online. We had to take a substantial cut in income to do so . . . and also figure out how to create a low income budget. We’ve done just that. If your income is low, or you simply want to save money, follow these principles to put you in a better financial position.
Principles for Creating a Low Income Budget
You’ll need to follow these tips simultaneously in order for them to work properly. Some will be more difficult than others you’ll find, but keep at it! Eventually you’ll get the hang of budgeting with your low income.
1. Ask yourself: “Do I really need that?”
This is an essential question to ask regarding everything in your life. There are two areas you should focus on when you’re asking yourself this question:
Big Oil’s Big Budget: A Guideline On Where The Best Value Is In Oil Services
So Exxon Mobil (XOM) recently announced its new budget for the next 5 years. Well, not surprisingly, this 400 billion dollar company announced big plans and lots of new spending over the coming years, but its projections for future demand were interesting too.
Exxon to me has been the best run of the majors for some time, though the stock price has languished because of the company’s large market cap and capital intensive business that prevents significant cash returns to shareholders. Still, when Exxon talks you should listen. The company recently announced plans to invest 185 billion dollars over the next five years, projected about 1%-2% annual demand growth, and about 30% demand growth by 2040.
What is interesting about Exxon’s large expenditure plans is that they aren’t in the natural gas space. While oil prices have stabilized at high levels, natural gas prices continue to languish at around the
Obama Budget Triggers Retirement Changes
BOSTON (TheStreet) — Within the pages of President Barack Obama’s fiscal 2013 budget proposal are several initiatives that could have a direct impact on your retirement strategy, including deduction limits for high-income 401(k) investors and a mandate for employer-offered IRA plans.
Brian Graff, executive director and CEO of the American Society of Pension Professionals & Actuaries, lambasted the president’s proposals to limit the tax benefit for retirement savings for families earning over $ 250,000 as a “double tax on contributions” and “bad policy based on bad math.”
Initiatives in President Barack Obama’s fiscal 2013 budget proposal could have a direct impact on retirement strategies.
The budget seeks to reduce the value of itemized deductions and other tax preferences. It would limit the tax rate at which high-income taxpayers can reduce their tax liability to a maximum of 28%, affecting only married taxpayers filing a joint return with income over $ 250,000 and single taxpayers with income over $ 200,000. This limit would apply to all itemized deductions; foreign excluded income; tax-exempt interest; employer-sponsored health insurance; and retirement contributions.
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4 Ways To Budget For “Gotcha” Expenses
Budgeting can be difficult at times. Some don’t see it that way. They just put out a budget every month that is exactly the same as any and every other month (what Dave Ramsey calls “the perfect month from heaven”). When we really stop and think, though, we all know that no two months are exactly alike.
What are Gotcha Expenses?
- HOA dues
- Dentist visits
- Life insurance premiums
- Christmas
- Wedding anniversary (you don’t want to forget that!)
- Trips (both personal and ministry-related)
Budget Opinions From Just Outside Capitol Hill
There was a lot of sniping in Washington this past week over plans to reduce the federal budget deficit. The views from both sides of the political aisle are clear, but what do average Americans think? We went to the National Mall in Washington, D.C., to find out.
Eleventh-Hour Budget Deal Averts Shutdown
Close to a government shutdown, President Barack Obama and congressional leaders came to an agreement late Friday night on a deal to cut about $ 38 billion in federal spending.
