Archive - 2020

1
How to Build Good Money Habits
2
Thoughtful Ways to Spend a Windfall
3
Why is there GPO (Government Pension Offset) in Social Security?
4
Why is there WEP (Windfall Elimination Provision) in Social Security?
5
How To Spend: Keep a Price Book

How to Build Good Money Habits

Dealing with personal finances can be daunting. They could be a new venture for you or your current way of dealing with them is less than ideal. Here are some tips that can aid you in developing good personal finance habits.

  1. Use technology. Whether developing a budget, savings plan, etc. the use of technology can make life easier. App such as Mint.com or spreadsheet software like Excel can assist you in getting organized and making clutter more organized.

For example, an app like Mint consolidates all your finances, accounts, and can give you a snapshot of what you’re spending, saving, …

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Thoughtful Ways to Spend a Windfall

Kiplinger.com offers suggestions for ways to spend a windfall of at least $1000. Should you find yourself with extra money you can pause and think about how to use it. These are uneasy times and one impulse would be to spend it on something fun. That is not a bad impulse because taking care of your wellbeing is an investment.  The list includes things like taking a vacation, upgrading your bike (or investing whatever pastime brings you joy).

There are also ways to spend a windfall so that you can put a little down payment towards a more secure financial …

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Why is there GPO (Government Pension Offset) in Social Security?

If you are (or were) married and you have worked in a domestic (US-based) government job where your earnings are not subject to Social Security taxation, you probably are familiar with the Government Pension Offset, or GPO. (You may also be interested in WEP – Windfall Elimination Provision – as well, but that’s another subject.) Have you ever learned just why GPO is a factor in Social Security calculations for many folks? In another article we reviewed why there is a WEP, but there are differences between WEP and GPO, so we’ll cover those first.

GPO versus WEP
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Why is there WEP (Windfall Elimination Provision) in Social Security?

WEP impact

During your career you may have worked for a governmental agency or a foreign employer where there was no Social Security tax withheld from your earnings (Job A). At the same time or at some other point, you may also have worked in a job that was covered by Social Security (Job B). The end result is that now you’re ready to retire, and you will collect a pension from the Job A, and you’re also eligible to collect Social Security benefits based on Job B. But the Social Security benefits are being reduced because of something called WEP – …

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How To Spend: Keep a Price Book

The abstract design on my shampoo bottle reminds me of the changes in price I’ve recorded in my price book.

About seven years ago, I was talking with my hair stylist about thinning hair and she recommended Nioxin 2 shampoo. It is one of those shampoos that is a professional-level shampoo and thus comes with a professional-level price. Although it retails in various stores both online and around town, it is not available in most grocery stores.

Because I buy in the 33.8oz bulk size and use only just enough, it takes me a year before I run out …

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