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Finances Feedback

by Ron Kurtus

Readers have sent in a total of 19 comments and questions on Finances issues. They are listed according to date.

You can read them to further your understanding of the subject.



List of next 15 letters

Title

Topic

Country

Finances are out of whack General USA
 
Your page was so helpful to my students Resources USA
 
Company recruiter mislead me about new job Getting a Job India
 
How much estimated taxes must be paid Paying Taxes USA
 

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First 15 letters


General

Finances are out of whack

August 29, 2012

Question

Ron, HELP, seems as if everything is out of whack, help our kids too much, poor decision making, can't seem to ever get on top of things. used to have PERFECT credit, now it is crap. we make too much to have to put up with this B.S. hope you can help with advise and help us set up a plan!!!

Mark - USA (22866)

Answer

Sorry to hear you've got some financial problems. Join the crowd. One reason many have such problems is that credit has been too easy to get, such that people get in over their heads.

One thing I believe is that having too many credit cards lead to loss of control over how much you spend. Besides a few store cards, you should be able to get by with only one credit card.

Take a step back and look over your whole financial situation. A good thing to do is to keep a Money Diary, where you list your income and how much you spend each week. Having to write down what you spend and why you spend it makes you more aware and helps to control what you do. This can lead to making a budget, where you allocate how much to spend each week.

Although writing this stuff down takes an effort, it is worthwhile.

Bring your whole family in on your financial situation. Often kids think their parents are a "money tree". When they realize that you have to watch your pennies, they often rise to the occasion.

Another thing is that helping your children too much isn't doing them a favor. Instead, you are not letting them know how to handle their own financial affairs.

A couple of websites that may help with financial tips are Savings Guide from Australia and MoneyWise from the UK.

Best wishes on getting your head above water and getting in the right direction with your finances. I am sure you will be successful in your efforts.

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Resources

Your page was so helpful to my students

November 16, 2011

Question

I teach Economics and I came across your page while looking for resources for my class. Your page was so helpful!! The resources are great and my students will find them quite helpful. As a thank you here is another page I came across that I think would be a great additional resource on your page!!!

www.howtotradestocks.org/learn-about-stocks/basics-of-saving-and-investing.html

Take a look and let me know what you think!

Fawne - USA (22172)

Answer

Thanks for the feedback. I'm glad the material is useful to your students.

Your suggested resource looks good, and I added it to our list.

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Getting a Job

Company recruiter mislead me about new job

November 12, 2007

Question

i am doing a job in well reputed MNC. before joining the company recuiters showed me the rosy pictures i.e. you will do these things and here is a lot of chances to promote.
but i have already spent three months here but neither they have committed their promises nor they are giving me a good job profile.

after joining i came to know that i am on contract basis,not on company payroll.that is what they did not tell me before,at the time fo interview.

what should i do? should i leave my job? will it give a wrong impression on my career profile. i am not getting any answer from anyside.

should i search for other job? my previous company was calling me back but i did
not join them as they were ready to pay me the same amount as i am getting here.because once you take your step ahead there is no need to look behind.

tell me what should i do? looking forward to hear from you soon.

thanks and regards

joya - India (14760)

Answer

Unfortunately, some company recruiters mislead people just to fill positions.

There are several factors to consider in this job. Have you been hired on a contract basis with the potential of being hired as a full-time employee? Many companies use that as a way to check whether the person is well-qualified for the job. You should have been told this when you were hired.

Also, many companies will wait for several months to give new employees good assignments. They may not have the right job available at this time, or there may be other factors involved.

The big problem is that it looks like the company mislead you by not telling you that you are only on a contract and not fulfilling their promises. I would be very suspicious of such a company.

I would try to make a good impression while you are on this job. You might diplomatically ask your supervisor what plans they have for you and whether you will be hired on as a full-time employee. You could say something like, "I was just curious about what plans... etc."

It would also be good to investigate the reputation of this company. Do you know of other contract employees? What do they think about things? Never complain or let it on what you are doing.

It would be worth contacting your previous company to see if they still have a position open for you. Sometimes going back to a company you left will open the doors for promotions. At least you know they thought you were valuable to them.

You can also look around for another job, especially since you have been only hired on a contract basis. It will not affect your career profile if you left early, since you were hired as a contractor.

I hope these ideas help you in moving ahead in your career. Let me know how things turn out.

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Paying Taxes

How much estimated taxes must be paid

June 18, 2007

Question

I am a speech therapist and do contract work for a a therapy company year round. No money is taken from my taxes but I will be required to pay taxes at the end of the year. Approx. how much will I be required to pay to the goverment. $6000?


thanks

Alyssa - USA (13948)

Answer

You really need to pay estimated taxes four times a year. Figure 25% of the money you made in the quarter. It is better to pay a little more and not be penalized. Also, if you are self-employed, you must pay extra Social Security.

If you are doing contract work for the company the year round and do not have other contracts, they may be advised to take you on as an employee.

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