As I sit here at my desk awaiting the results from tonights Iowa Caucuses, I ponder who will next my vote next month (in the Kansas Caucuses). The projected winners are Obama and Huckabee. With Ron Paul pulling a strong 5th place. Folks, I wouldn't count Ron Paul out of this. In the next few weeks we could see Paul do better then expected, much as he has done in Iowa. He wasn't expected to get more then 5%, yet as the votes are being tallied, he is getting 11%. That's right behind John McCain's 4th place finish with 13%.
As an undecided voter, I like Ron Paul's Libertarianism. However, as a pro-lifer, I also like Mike Huckabee, Mitt Romney and Fred Thompson. Paul views on the war in Iraq matches that of mine. Although, I am not sure we should cut and run either. Paul's 30+ years of experience in Congress is another strong reason to vote for him, but is he really the guy I want to endorse?
Mitt Romney would be an excellent choice on pro-life grounds but his record on the issue in Massachusetts, causes one to wonder what he really believes. His website makes him out to be the perfect fiscal candidate as well. Overall, he sounds great, but can I really trust what he says.
Mike Huckabee is another candidate that I like his views on most issues. Hey we aren't going to agree with any candidate 100%, but his past record of raising taxes in Arkansas. Not to mention his apparent flip flop on the illegal immigration are things that concern me.
As for the fourth and final candidate, Fred Thompson seems to be a great choice, but is it just another role for an aging actor to show us his acting skills? However, a look at his Congressional voting record seems to indicate that he would be great at trying to keep our taxes low and perhaps even cutting them.
I am still not sure who to vote for. There has never been a year where I have been undecided at this stage of the campaign. In fact, until a couple of months ago I was an ardent Brownbacker, then he withdrew and throwing me into the position of being undecided. Hopefully in the next week or two I will have made my decision. Once I do, you can expect that all 3 of my major blogs will carry the endorsement. You can also expect that the decision will focus on the candidates fiscal policy, since 2 of those blogs are personal finance related.
With that, you can see the results (as of 9:30 CT) with results still coming in.
Republican Party Results:
Huckabee 34%
Mitt Romney 25%
Fred Thompson 13%
John McCain 13%
Ron Paul 11%
Rudy Giuliani 3%
Democratic Party Results:
Obama 38%
Edwards 30%
Clinton 29%
Discussing faith, business, personal finance, news (business and financial related), politics, and pretty much everything else.
Thursday, January 3, 2008
0% Capital Gains
I have been reading of late about how Congress is changing the rules for capital gains. However, it may not be for everyone and will only be in affect during the tax years of 2008, 2009 and 2010. According to Kiplingers and USA Today certain lower income stock holders will have 0% capital gains on the sale of their stocks.
To be eligible for the 0% capital gains, the taxpayer can't make more then $32,550 if you are single or $65,100 if you are married filing jointly. This includes the sale of your stock. So, in other words if you are single and make $20,000 and sale $13,000 in stock you will have to pay capital gains on the $500 over the cut off. In addition, you cannot get the incredible tax rate if you have not held the stock for at least a year.
The law did have a loophole, and tax advisor's were quick to advise their clients to give stock to their kids, who traditionally are taxed at a lower rate. Upon learning of this Congress acted just as quickly to close, what the USA Today referred to as a "Hummer size loophole."
So it sounds like this new year may be the year to unload some stock that you may have been thinking of selling.
To be eligible for the 0% capital gains, the taxpayer can't make more then $32,550 if you are single or $65,100 if you are married filing jointly. This includes the sale of your stock. So, in other words if you are single and make $20,000 and sale $13,000 in stock you will have to pay capital gains on the $500 over the cut off. In addition, you cannot get the incredible tax rate if you have not held the stock for at least a year.
The law did have a loophole, and tax advisor's were quick to advise their clients to give stock to their kids, who traditionally are taxed at a lower rate. Upon learning of this Congress acted just as quickly to close, what the USA Today referred to as a "Hummer size loophole."
But lawmakers weren't happy to hear that parents were planning to exploit the zero-percent capital gains rate, says Ed Slott, an accountant and IRA expert in Rockville Centre, N.Y. "Their intent," he says, "was for retired people to pay a lower rate, not for rich people to shift money to younger kids."
So Congress broadened the "kiddie tax," which taxes a child's investment income at the parents' top marginal rate. The kiddie tax kicks in once a child's unearned income — such as from interest and capital gains — exceeds a certain level. For 2007, that level is $1,700.
- USA Today
So it sounds like this new year may be the year to unload some stock that you may have been thinking of selling.
Car Financing in the UK
Car finance is the typical way many of car buyers purchase their new or used cars. The process is pretty typical. You apply for the car credit. A person might even seek to be pre-approved or have already had a car picked out, no matter, the process is the same. You fill out the application and give the finance company your information. The loan application is then processed and a decision is made based on your credit history and current income. Usually within 24 hours. One thing to realize with an almost 90% acceptance rate, one could say that NetCars is the UK's guaranteed car finance lender. Finally, once the application is approved and vehicle is picked out it is time to do the paperwork. Once the paperwork is done and the car is now titled in your name, you can drive off your new vehicle.
Wednesday, January 2, 2008
Not All Credit Cards Deserve the Bad Name We've Given Them
Debbie Dragon is an editor for CreditorWeb.com, a site that provides visitors with advice and information they need to compare credit card offers. The opinions of Ms. Dragon are her own and not necessarily those of the owner of this blog.
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It's true that credit cards are the reason why many people find themselves in over their heads in debt. Often, it's not even the amount of money we charged on the card that causes the main problem- but when we don't pay the cards off in full each month, the balance that gets carried over from one month to the next is subject to a variety of fees, interest and in some cases- late fees - if we had trouble getting the payment there on time. Every month that we only make a minimum payment on what we owe, we hurt ourselves financially.
When a credit card is used responsibly, however, and the card itself has reasonable fees- it can actually help an individual improve their financial situation.
So how do you find a credit card with reasonable fees? A card that can actually help our financial situation? Here is what you should look for when comparing various card offers:
1. Grace Period. There are actually some credit cards that do not offer a grace period, and you should steer clear of them at all costs! A grace period is the period of time that you have to make your payment without being charged interest or fees on the money you borrowed. Make the most of the grace period by making all of your purchases in full during this time and your credit card will work exactly like cash- and you'll never pay a dime in interest, finance fees, or late fees.
2. Balance transfer offers. If you already have considerable credit card debt, you will want to find a credit card that will give you a no interest or low interest offer on balances you transfer to your new card. The best cards offer the lower interest rate on transferred balances for the life of the balance; but even if you can save for six months to a year on that debt, you can make a lot of progress towards paying that debt off.
3. Check into the terms and agreements, particularly the default agreement (you know, the fine print!) Many credit cards indicate that they can raise your interest rate at any time, and for any reason. If possible, you want to avoid these cards and focus on the credit cards that only raise the interest rate you pay if you are late or miss a payment. Be careful, as many of the large credit card companies have started raising interest rates for cardholders who are late on ANY credit card, not just their card!
Weeding your way through credit card offers can seem like a challenging task, but if you focus on the aspects that are important, not only can you get a card with reasonable rates, but with some careful financial savvy- you can actually make your credit cards work with you instead of against you!
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Debbie is an editor for CreditorWeb.com, a site that provides visitors with
advice and information they need to compare credit card offers.
--------
It's true that credit cards are the reason why many people find themselves in over their heads in debt. Often, it's not even the amount of money we charged on the card that causes the main problem- but when we don't pay the cards off in full each month, the balance that gets carried over from one month to the next is subject to a variety of fees, interest and in some cases- late fees - if we had trouble getting the payment there on time. Every month that we only make a minimum payment on what we owe, we hurt ourselves financially.
When a credit card is used responsibly, however, and the card itself has reasonable fees- it can actually help an individual improve their financial situation.
So how do you find a credit card with reasonable fees? A card that can actually help our financial situation? Here is what you should look for when comparing various card offers:
1. Grace Period. There are actually some credit cards that do not offer a grace period, and you should steer clear of them at all costs! A grace period is the period of time that you have to make your payment without being charged interest or fees on the money you borrowed. Make the most of the grace period by making all of your purchases in full during this time and your credit card will work exactly like cash- and you'll never pay a dime in interest, finance fees, or late fees.
2. Balance transfer offers. If you already have considerable credit card debt, you will want to find a credit card that will give you a no interest or low interest offer on balances you transfer to your new card. The best cards offer the lower interest rate on transferred balances for the life of the balance; but even if you can save for six months to a year on that debt, you can make a lot of progress towards paying that debt off.
3. Check into the terms and agreements, particularly the default agreement (you know, the fine print!) Many credit cards indicate that they can raise your interest rate at any time, and for any reason. If possible, you want to avoid these cards and focus on the credit cards that only raise the interest rate you pay if you are late or miss a payment. Be careful, as many of the large credit card companies have started raising interest rates for cardholders who are late on ANY credit card, not just their card!
Weeding your way through credit card offers can seem like a challenging task, but if you focus on the aspects that are important, not only can you get a card with reasonable rates, but with some careful financial savvy- you can actually make your credit cards work with you instead of against you!
--------
Debbie is an editor for CreditorWeb.com, a site that provides visitors with
advice and information they need to compare credit card offers.
Sponsored Post: My Personal Loan Experiences
I was recently asked about my own experiences with finance and credit. Like many I have had both good and bad experiences. If you can call any loan good. Listen, as much as I hate borrowing, if you get into bed with the devil, there are institutions that have better customer service and overall more pleasant to deal with.
The credit union that currently handles my car loan is great to deal with. That Credit Union also has my checking account. I allow them to automatically withdraw $100/week out of my checking, as soon as my paycheck hits. This allows me to stay current, keep my interest payments to a minimum and allows me to pay the debt faster. For example in January, I will pay $100 extra, because of the fifth payday that month. Plus since my minimum payment isn't quite $400/month, I am also paying a little extra every other month as well.
On my home loan, I have had two. One good and one bad. The current home improvement loan the company has been pleasant to work with, despite that they are charging way to much interest. However, the former, which was a debt CONsolidation was what many would call bad credit home loans. They were charging me 16% and even though I was paid ahead by several months, they would still call demanding payment and such, when I would miss a payment due date. That is one company, I never want to deal with again. Perhaps if there is a next time, I will be smarter about choosing the company I do business with.
The credit union that currently handles my car loan is great to deal with. That Credit Union also has my checking account. I allow them to automatically withdraw $100/week out of my checking, as soon as my paycheck hits. This allows me to stay current, keep my interest payments to a minimum and allows me to pay the debt faster. For example in January, I will pay $100 extra, because of the fifth payday that month. Plus since my minimum payment isn't quite $400/month, I am also paying a little extra every other month as well.
On my home loan, I have had two. One good and one bad. The current home improvement loan the company has been pleasant to work with, despite that they are charging way to much interest. However, the former, which was a debt CONsolidation was what many would call bad credit home loans. They were charging me 16% and even though I was paid ahead by several months, they would still call demanding payment and such, when I would miss a payment due date. That is one company, I never want to deal with again. Perhaps if there is a next time, I will be smarter about choosing the company I do business with.
Romans 1:21
Because that, when they knew God, they glorified him not as God, neither were thankful; but became vain in their imaginations, and their foolish heart was darkened.
Tuesday, January 1, 2008
Happy New Year
I would like to take a brief moment and wish each and every one of my readers a very Happy New Year.
2008 looks to be a very successful year in the Princes home. I expect to get rid of several of my debts this year. My Black Gold (attic insulation) was paid off yesterday (12/31/07). Just in time to be sure that I can get the full credit available to me on my taxes.
My credit card will be the next to be eliminated. I will be getting $147 from Google Ad Sense later
this month. Those proceeds will be used to reduce my credit card debt. If I can arrange to make a larger payment, besides what is in my budget and pay off the remaining $255 (estimated - after new interest charges), I will do so. Then I can turn my focus towards the $990 home improvement loan to get it whipped out. After which I will have the Yes the new year is looking so much brighter then 2007. So what about you? How is your 2008 looking?
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