Money for Free?

What I'm referring to in my title is the soon to be passed tax rebate the government will be sending most of us to stimulate the economy. The typical family of 4 is looking at a $1,800 rebate. That's some serious cash.

If you are like most people, you are already dreaming of ways to spend the money. Here's what the readers of Kiplinger's web site are saying they would do with it.



I'm in the 19.5% number.

I want to strongly suggest to you that whatever you decide to do with the rebate, make the decision well before the check hit's your mailbox. If you are married, sit down with your spouse and put on paper where and what you are going to do with the money. This way when it arrives, you already have a plan and there is no $1,800 impulse purchase.

Cindy and I have already decided what we are going to do.

1. $200 giving to NewPointe
2. $300 invested in Chaz & Katie's Educational Savings Account
3. Balance into our emergency fund.

What's your plan?

10% on my Savings

Currently I have my checking account with JPMorgan Chase. Why? Because some time ago, they gave me $25 to open a checking account and with direct deposit, the checking account was free and so is their bill pay. I do like their bill pay. It works well.

I do not have my savings account with Chase. I have use two internet only banks for that. One is Emigrant Direct (They are paying 4.3%) and the other bank is Amtrust Direct (They are paying 5.11% on new accounts) These are both great rates.

I'm about to open a third savings account. This one at Chase. In todays mail, the sent me an offer. If I open up a saving account with $500, they will give me $25. The only catch is I have to leave $500 in the account for 6 months. Well, $25 on $500 is 5%. That is if I leave the money there for one year. Leaving in there for just 6 months turns that $25 into 10% return on my $500.

After the 6 months is up, I'll most likely roll the funds back to Emigrant or Amtrust. I love putting money to work.

Tax Refund Loans

Tax season is in full swing. I'm getting my usual phone calls asking if I'm ready to do a said relative or friends tax return. Believe it or not, I like doing a tax return or two.

Millions of people look froward to their tax refund and have spent that refund 20 times or more before they even get it. Well the marketers or "sharks" have in recent years come up with the brilliant idea of the "Refund anticipation loan". I say brilliant, because it is from the loaners stand point and very very stupid for those taking out the loan. Here's why.

The average effective interest rate on one of these loans is in the triple digits. That is simple outrageous. Here's the best idea related to your tax refund. Fill out a new W-4 at work so there is less taken out of your paycheck. This give you access to your refund every single paycheck. You don't have to wait to get it. Why continue to give the government use of your money for an entire year. Then have them return it to you once a year and they pay you zero percent interest.

Dollars for Body Fat

I hear lots of grumblings from business owners about the rising cost of health care insurance. This cost is always on my radar as the Director of Business Operations here at NewPointe. Coming up with creative ways to lower premiums is a priority for most every employer.

We have developed an employee wellness program that is working wonderfully in getting our staff to think and act healthier. According to an story I read in Work Force Management, The Wall Street Journal reported that an Indiana bank will give their employees up to a $500 bonus if certain health screenings show good numbers. One screening is for Body Fat percentage.

Is this going to far?

Money back Guarantee

NewPointe has put a challenge out to our church body. We want everyone to put fist things first. If you weren't with us last week, you missed a very challenging message from Dwight.

Dwight's challenge was for those not tithing to do so for Feb, March, and April and if this challenge is accepted and you do not see God moving in your life, then NewPointe will give you your money back that you tithed during the 90-day challenge.

Have you ever heard of a "money back guarantee" at church? Is this cool or what. I'm confident those who take the challenge will be amazed as to what God will do in their lives as they put first things first and honor God with their finances.

At NewPointe, we know God doesn't need your money. It's all God's anyway. Tithing is one very important indicator that God is first in your life.

By the way, we have had over 250 people sign up for the challenge already. Way cool!

Better than 411

I came across this cool tool some back in June at the Dynamic Church Conference. I was having lunch with Tony M when he pulled out his cell phone and dialed up Google 411.

Google 411 is a way cool tool and it's free unlike dialing 411 from your home phone. by calling 1-800-GOOG-411 to get a street address or phone number. If you haven’t tried it, here’s a YouTube clip (courtesy of Google) on how to give it a try.

And we are off

Last night was the fist night of 2008 Financial Peace University class at NewPointe. It was wonderful. We broke the seal of the newly produced Dave Ramsey DVD's for the class and I must say I'm very impressed by the improvements they have made.

The first class session was super savors. This class covers the need for an emergency fund.

1. $1,000 as a starter fund.
2. 3 to 6 months as a fully funded emergency fund.

An emergency fund is Murphy repellent.

The other major topic covered in super savers was the importance of actually saving money. The USA has a negative savings rate. We are spending more money than we make. Unbelievable. Don't be a negative saver. Come up with a plan.

I'll leave this post with a suggestion, set up and automatic savings withdraw from your checking account into a savings account. Make it automatic and make it happen every month. Your on your way to an emergency fund.

I'm still here

I usually try and post about every two to three days. As of late, I have been working feverishly on getting NewPointe's 2007 year closed. (We have an Accounting firm coming soon to review our books.)

In addition to that, I'm trying to get the month-by-month, expenses-by-expense, Ministry-by-Ministry budgets into QuickBooks.

These two things are keeping me very busy and I love it.

1/6/08 and 1,984 left to go. . . .

We'll it's only the 6th day of the new year and I got to put 16 miles on my bike today. I took advantage of the 52 degree weather after church and hopped on my road bike.

It's always bitter sweet for me when I reset my bike odometer. The bitter, theres' no more miles added to the total and I say good by to another year. This past year I road just over 2,200. The sweet, the odometer reads 0000 and its a fresh start.

The mileage goal for 2008 is 2,000. Will I reach it? I sure hope so but, the most important thing about goals is not really reaching them it's who you are becoming as a person as you reach for them.

W2's. . . . Done. . . . Income Taxes next

Do you have your W2 yet? We'll those who work at NewPointe have theirs waiting in the office mailbox. I invested this rainy Saturday morning in my office cranking out W2's for our staff. I love this time of year.

As you await your W2, how or what do you do to get organized to do your taxes. I label a folder "Taxes 2007" and as each tax form arrives in the mail, I put it in the folder with all the other forms.

Once they have all arrived, it's like a second Christmas for me as i fire up my copy of turbo tax and start inputting information. Come to think of it, I'm going to copy over my 2006 information to turbo tax right now.

Start 2008 off right

Happy New Year to you and welcome to my first post of 2008. You'll be glad you stopped by as I'm going to lead you to two days of FREE Financial Advice.

Kiplinger's has again partnered with NAPFA (National Association of Personal Financial Advisers) to bring you Kiplinger's Jump-Start your retirement plan days. On Tuesday Jan 15th & Friday Jan 25th, NAPFA members across the US will be standing by to answer your financial questions.

Normally, these fee-only planners charge clients between $100 to $250 an hour but on Jump-Start day you pay nothing. So if you have questions in any of the following areas, don't miss this FREE planning session.

1. Investments
2. Taxes
3. Insurance
4. Retirement
5. College funding
6. Estate Planning

Ok, here you go. Here's the phone number 888-919-2345.

Last year, over 12,000 people participated.