How To Save Money

The article was giving advice top students on how to save money. What strucked me as interesting was how the person suggested that being married was cheaper. It makes sense but it was odd. It also suggested not to spend on bad habits and save early.I currently am making a plan to manage my expenses. Im writing down my budget and the expense I have. I waste a lot of money. I am planing to make some investments and save for retirement. This is important to start early because the earlier you start the less you have to save up, which the article explained.

Taxes - How Does The Government Spend Money?

Federal Taxes and Payroll Tax: collected from wages and salaries only

Income Tax= collected from wages, salaries, rents, interest on bank accounts and dividends

Corporate Income Tax= collected from a corporations net income

Excise Tax= collected from the sales of items like gas, alcoholic beverages and tobacco

Estate Tax= collected from a dead person’s estate

Gift Tax= collected during the transfer of property between peopleState Tax

General State Tax= collected from general sales

Excise Tax= collected from the sales of items like gas, alcoholic beverages and tobacco

Estate Tax= collected from a dead person’s estate

Inheritance Tax= collected from a person after they inherit something from a dead
personCity/Local Taxes

General Sales Tax= collected from general sales

Excise Tax= collected from the sales of items like gas, alcoholic beverages and tobacco

Property Tax= collected from assets like stocks, bonds, houses, cars and artworkMiscellaneous
Taxes

Pollution Tax= collected from companies that produce air, water, oil or water pollution.

Saving and Dept

I believe that when you start to spend more then you make that is when you need to cut your credit cards, even if you haven't maxed out. In the article if the couple would have calculated all the charges they made to their credit card they may not be in this predicament. Many people get into debt by not calculating the costs of the items they buy. Majority of the time they keep charging it and saying "I'll be getting my check in a week." which can be true but they don't focus on the amount they are getting. Finance charges were put in so that the companies who technically loan you the money first will get something in return for their services. However if you fail to pay it off first time around the charges build up and you eventually pay more with your credit card then if you have paid with your money. Majority of the American people are in debt so they can't afford to save money, their busy paying off bills. The rest who are not in debt don't see the point in saving their money which gets them the most 5% which isn't a lot, compared to buying real estate. In general not only in America is saving rates declining, in France, Britain, Italy, Germany, and Japan all dropped.

Critique of GDP Podcast

I've decided to use Ronald and Richard's Podcast, right from the beginning the podcast caught my attention and kept it by being original. Although I had knew the information that was being presented the fact that it was different made me pay attention. It explained it fairly, the podcast itself was a little bit short compared to all others. The podcast is loud for anyone to hear and it is very ear catching. The images do match the information presented but a little more pictures would be better. The podcats is very creative and interesting it catches the visitor's attention. The style is very original I haven't seen another podcast like it. I didn't really learn alot because I had already knew the information but it was good re-explaination.

US Trade Deficit: getting better?

This article is discussing the current standing of America's economy in relation to the dollar and the amount of exports. The article also explained why America's trade gap will narrow. A negative balance of trade is known as a trade deficit or a trade gap. A trade deficit occurs when a nation imports more than it exports. This was the case with America for the last decade. However, due to the fact that our dollar decreased in value we are now highly sought because with the exchange rate foreign countries are really getting a bang for their buck.Since our products are being sought and wanted, we are exporting more. This increases our GDP as well as increasing domestic jobs, but most of all our trade deficit will go down. There is a lot of growth in the rest of the world and so there is a lot of demand for products to support these thriving nations. Vehicles, Diesel, Fast Food, earth moving equipment, shovels, factory machinery and digital components to build a modern telecommunications back bone are just some of the American made products being exported to nations abroad.

Taxes

A tax is a payment to the government that is required by the law. The IRS controls and maintains the taxes we pay. IRS is an acronym that stands for Internal Revenue Service. The was created by former President Lincoln in 1862 to cover the expenses of the Civil War. The IRS internal revenue service sends out 8 billion pages of forms and instructions each year. Laid end to end, they would stretch 28 times around the earth. American taxpayers spend $200 billion and 5.4 billion hours working to comply with federal taxes each year, more than it takes to produce every car, truck, and van in the United States. We pay a lot of different types of taxes. Income tax is a tax placed on the earnings we make at work and is deducted from our paychecks. If you earn $10 per hour, it turns out that you actually earn only about $8.90 after taxes. The more money you earn, the more money is deducted from your paycheck. Taxes eat up 38.2% of the average family's income; that's more than for food, clothing and shelter combined. It is a lose lose situation.

There are many people who commit tax frauds and fail to pay their taxes. However, in the end almost all get caught. A lot of people prefer to work off the books. With an off the books job, your employer does not report the fact that you are working and therefore no taxes are deducted from your earnings. Although you end up with more money in your pocket, social security is not being deposited for you when you retire. The money for Social Security is taken out on each check and is labeled FICA, which is an acronym for federal Insurance Contributions Act. It is also close to impossible to find a good and serious job that pays you off the books. If you decide to go off the books chances are that you are not recieving and healthcare coverage from you company.

Corporations also pay income tax. We pay sales tax which is a tax on merchandise we are purchasing at a store. Sales tax varies from state to state. In New York the sales tax is 8.25%. My favorite week is tax-free week which comes twice a year. We pay taxes so the government can keep funding and spending on our country. Whether it is to improve education or increase our arsenal. During some years the amoutn of taxes Americans pay amount for 85% of the Revenue for the federal government.

Student Loans-Beware

Culinary School Students take out such large loans to cover the expensive tuition. They coerce themselves into thinking that taking out large loans will be worth it in the end. Once they graduate from their prestigious expensive culinary schools they are expecting to secure a good position in a five star restaurant making a huge chunk of change...an ample amount to live off of and pay back. Student loans are convenient for instant necessity purposes, but in the long run they are an annoying pain in your backside. I am trying to stay away from taking out loans for my college education just because I dont feel like paying anything back when i start working. I just want to earn my money, cry over the taxes they took out and then spend it quicker than a New York minute. However, realistically speaking If it comes to having to take out student loans what can I do? I'm going to keep pushing it on my mother and grandparents.
If I take out loans I'd take out $6,000 per year so it would be roughly $24,000. I personally hate the reality of paying for school. I wish education was free. I believe it should be free and so the whole concept of paying for school frustrates me.