Emily’s list: It’s been a rewarding, taxing week
What a week. This Wednesday, the U.S. stock market surged and hit major milestones it hasn’t reached in nearly 19 months. Those of us with investments were finally able to do a happy dance! Very appropriately, the cover of this week’s “Newsweek” issue says, “America’s Back!” It seems that things are finally on the upswing.
Meanwhile, this Thursday was probably the most dreaded day of the year: tax day. Most of us were scrambling to make sure our returns were filed and payments submitted before the clock struck midnight. I was actually quite happy on tax day for the past two years as I received a refund of around $2,000 each time. Then I realized that I was giving the government an interest-free loan and was missing out on around $166 of income each month. I changed my withholding amount, and apparently went a little too conservative, because this year I was smacked with a $454 tax bill. It’s not fun owing taxes to the government, but we all know what happens if you don’t pay up.
It’s never a bad idea to brush up on some personal finance smarts. Now that your taxes are taken care of and you can relax, take some time to read this roundup of some of the best posts in the personal finance blogosphere from the past week about credit card debt.
1. Money Relationships discusses whether you should rely on credit cards as your emergency fund.
2. Dinks Finance ponders living on a cash budget, and gives four compelling reasons why you may want to use bank accounts and credit cards instead.
3. Good Financial Cents gives the basics of secured credit cards and explains how they can help you rebuild your credit.
4. Debt Hater admits that even the best of us can succumb to the lifestyle creep and go a little too crazy with our credit cards.
5. Moolanomy helps readers learn how to identify and avoid debt relief scams.
6. Budgets are $exy discusses whether it’s possible to be too ambitious and have too many personal finance goals at one time.
7. Fiscal Geek explains why debt counseling and repayment services don’t work for so many people who greatly need financial help.
8. Canadian Finance Blog discusses why not all credit card reward points and loyalty programs are worth the effort.
9. Sometimes we are at the other end of the debt equation when we loan money to a family member or friend who won’t pay us back. Wealth Pilgrim lists six steps you can use to collect the money that is owed to you.