Nicole at Rainy Day Saver talked about stocking her pantry at Stocking Up Your Pantry: Yea or Nay? I’m with her, I like the pantry for two reasons, the savings when you make the purchase, and then the not rushing out last minute to grab some off item you just ran out of. Have to use first-in first out method to keep items from getting old, but that’s not too tough.
One of my tax tweeps Kelly Phillips Erb, guest posted 5 things you can do now to get ready for huge tax hikes in 2011. My favorite suggestion of hers? “Die.” Which just goes to show you how tough it is for the average person to manage their taxes. When Uncle Sam starts raising rates, watch out.
It appears that one of Kelly’s readers took her advice, and the New York Times wrote about Legacy for One Billionaire: Death, but No Taxes. Dan L. Duncan was the first billionaire to die in 2010 while the estate tax rules had a one year “no estate tax” provision. On the other hand, his heirs did not get a stepped up basis, but now have to track their basis from the time Dan acquired any of his posessions. A paperwork nightmare, but for a Billion Dollars, I’ll take that headache.
In contrast to the estate issues mentioned above, Bob at ChristianPF wrote about how Buffett & Gates Ask Rich To Give 50% Of Their Wealth.
This past week my fellow Money Maven Network member, Neal Frankle posted a review of You Need a Budget, a personal budget software package.An excellent overview of the program. While I like to handle my finances via spreadsheets, I understand that many people simply do not, preferring a professionally written software package, and Neal’s review is a good read if you’re looking to get your budget under control.
Happy Father’s Day,