So, you’ve gone to Dillon’s enough in the last year to know that the price of milk is double what it used to be. Gas prices are burning giant holes in your paychecks. And you can barely find a single neighborhood in town that isn’t dotted with blue-and-red realty signs. The cost of living has gone up for everyone, everywhere.
So how do you manage?
As you’ve likely heard, if you’re an independent taxpayer who made more than $3,000 last year Uncle Sam will be sending some skrilla your way. Vital to warding off a recession, these payments sent out to taxpayers will provide an extra boost to consumer spending and the economy.
Still not sure if you qualify?
If you …
-
Have a valid social security number
-
Made more than $3,000 in 2007, but less than $75,000
-
Filed a 2007 tax return
-
Can’t be claimed as a dependent on someone else’s return
… then you qualify for a stimulus payment ranging from a minimum of $300 to a maximum of $600. Individuals whose income exceeded $75,000 (or married couples filing jointly who made more than $150,000 combined) may qualify for smaller payments, but $75,000 is the point where the payments are intended to phase out.
To receive your payment, you do nothing. You’ll automatically receive a check in the mail or a direct deposit in your bank account, depending on how you received your tax return. See: The Economic Stimulus Payments Information Center at the IRS website for more information.
Well, let’s say you know your stimulus payment is on the way. How do you use it wisely?
Spending Cash. Firstly, get thyself to SlickDeals before making any major purchases.
The front page displays a list of currently well-known deals, but the forums are the real hotbed of information. A wise place to research your next HDTV purchase for big savings.
Earning Cash. Next, consider Craigslist to offload unwanted goods to other people in your area and beef up your dwindling savings.It’s free to post a listing and there’s plenty of local activity. Just exercise the same caution you would when selling to any stranger on the Internet–and make sure the person you’re dealing with is genuinely local.
Saving Cash. Here’s an easy one everyone should know by now: WichitaGasPrices.com. Though the prices in every area aren’t always up-to-date, it sure beats nothing.Lesser known are the Pinching Your Pennies forums for the Kansas area, which track grocery store sales and coupons.
Want to really master your grocery bill? Make a list of the items you use all the time (like those $1.79 Soups-At-Hand you always have for lunch) and splurge when the best deal comes along. You’d be surprised how much you can save.
Free! Finally, nothing’s easier on your bank account than stuff that doesn’t cost money. FreeCycle is a Yahoo Group for the Wichita area where individuals can offer things they would like to give away for free. Plenty of families do have clutter they need to clean up, from appliance upgrades to cross-country moves, and FreeCycle provides a place to get rid of it. Just don’t expect any plasma screens. And don’t forget, the Wichita Craigslist also has an active Free section for the same purpose.