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Further
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Debt Collecting @ & A - Issue 6 - Jim Finucan
DEBT COLLECTING Q & A – Issue #6 By Jim Finucan © Tiare Publications Group 385 words Q) Jim: How can I be sure that I’ve gotten to the heart of the problem when I suspect the debtor is being insincere, or even dishonest? A) Use a technique called...
Five Foolproof Ways to Improve Your Web Site Sales - Vishal P Rao
When you run an online home-based business, your web site is more than simply a company location. It's also your primary source of advertising and marketing. If you've noticed that sales are lagging or if you're simply looking for ideas for a site...
How to Choose an Affiliate Winner - Brent Hollins
The idea of using affiliate programs is to produce extra income and in the process attain total financial freedom. More and more people from all over the world are looking for a real winner. The problem is, affiliate programs are sprouting up...
Home Based Business Success -Separating Ourselves From the Competition - Nick A James
It's really not hard to be successful. (Although it does require having some guts and not being lazy.) Simply be willing to do what most people aren't. You've seen the ads "Make big money- No selling, no telephone calling, no work, etc". The point...
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Ben Franklin Didn't Quite Get it Right
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Written By:
Terry Mitchell
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When Ben Franklin said "a penny saved is a penny earned", he didn't quite get it right. Actually, a penny saved is worth more than a penny earned. Do you find this statement shocking? I am about to prove to you that what I'm saying is true.
Most people erroneously believe the best way to strengthen their financial health is to increase their income. On the contrary, saving money by cutting costs will get you there quicker. You see, it's very simple. When your income increases (with some exceptions like the part of it you put into your 401k), that extra money is taxed. On the other hand, any amount you save by cutting costs is not taxed. Therefore, $20 saved by cutting costs is worth more than a $20 increase in income.
The following (although over-simplified) example will illustrate this principle. Let's suppose that Jack and Cindy have identical jobs and incomes. Let's also suppose they shop at the same grocery store and pay about the same amount for groceries each week. Now, Jack gets a $20 per week pay increase and Cindy does not. However, at about that same time, Cindy finds a new grocery store where she is able to save $20 per week - continued below ...
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on her grocery bill. Assuming nothing else has changed, Cindy is now better off financially than Jack, even though she did not get a raise and he did. How can this be? It's because Jack has to pay taxes on his $20 raise but Cindy does not have to pay taxes on her $20 grocery discount. Assuming Jack is in the 25% federal tax bracket (and disregarding any possible increase in his state or local taxes), he will be able to put only $15 into his piggy bank each week whereas Cindy will be able to put the whole $20 a week into hers!
Bottom Line: It is more blessed to receive a discount than to receive an equal amount in a pay increase!
About the Author
Terry Mitchell is a software engineer, freelance writer, and trivia buff from Hopewell, VA. He also serves as a political columnist for American Daily and operates his own website - http://www.commenterry.com - on which he posts commentaries on various subjects such as politics, technology, religion, health and well-being, personal finance, and sports. His commentaries offer a unique point of view that is not often found in mainstream media.
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| _Additional Resources ... |
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Remember them! - Doug Titchmarsh
Remember them! When you were thinking of starting your online venture, you probably consulted with a group of people we all take for granted. When you started you were probably part time online, and full time working to pay the bills. That same...
The Easiest Way to Hit a Goal Is to Give Yourself One to Hit - Keynote Speaker Gregory Scott Reid
You have permission to publish this article electronically or in print, free of charge, as long as the bylines are included. A courtesy copy of your publication would be appreciated - send to: GregReid@AlwaysGood.com The Easiest Way to Hit a Goal...
Can you really be successful online working at home? - Dr Jeffrey Lant
There's no doubt that millions of people want to work at home, and that a substantial percentage of them are looking to the Internet to provide them with the means to do so. The question is, can the Internet deliver what these people need to make...
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