There was a great article in Consumer Reports that was sent to me recently by a colleague. Consumer reports ran some hypothetical scenarios where a person had the option of either investing or prepaying their mortgage by $100 per month. The results? You’re better off investing the money in the long-run. Check out their article here:
http://www.consumerreports.org/cro/money/credit-loan/prepaying-your-mortgage-3-08/overview/prepay-mortgage-ov.htm?resultPageIndex=1&resultIndex=1&searchTerm=your%20mortgage
Category: Personal Finance
Consumption in the US by income level
I guess I’m blog happy today…..my wife emailed me this graph from the NY Times. It shows average consumption by various categories by household income level. What’s interesting is the wealthiest of household spend signifcnatly more money on their clothes, cars, taxes, and are able to save a heck of a lot more money than less well-off households.
Stimulus plan- Tax “rebates”
According to a couple articles I’ve reviewed online it appears that the so-called “tax rebate” which is at the focal point of the governments plan is not a reabte at all. In fact, most taxpayers will see their 2009 tax refund reduced by the amount of their rebate. This is certainly not the way that the government is presenting it.
Sources:
*http://articles.moneycentral.msn.com/Taxes/Advice/TheDetailsOnTaxRebates.aspx