JoeTaxpayer

A wild week in the market, and this is how some traders must have felt……

My second year writing for the TurboTax Blog has finished, and I’m happy to say they have signed me on to begin a third. I’ll be taking a summer/fall three month vacation from the guest posting and back in November with another look at some great tax related topics.

My last two posts were published just over a week ago, and are good reading.

First, a look at Tax Withholdings and Your W-4. If in April you got (or owed) more than $1000, this article will help you understand how to adjust the money withheld each paycheck. I know a big refund feels good, but it also means you lent Uncle Sam money interest free.

And my last post of the season, The IRS Increases Standard Mileage Rates to 55.5 Cents Per Mile. In a rare mid-year move, the IRS updates the standard rates for those who take a tax write-off for miles driven, whether for business, medical, moving, or charity. Check out the full article and let my friends and TurboTax know Joe sent you!

This is the third post in an 8 part series on being homeless, by a guest author who goes by the name Dreamscaper. It’s my honor to share his story with my readers.

I was homeless with my life possessions in my backpack. I was (am) bipolar. If you never been truly homeless in your life, what could a homeless person be afraid of? What could a homeless person be afraid of? What do they have to lose?

The first weeks I was homeless I hustled poker and blackjack. I found people playing for quarters. Previously I was a card counter so blackjack was easy for me. I’d play either the house or had a nice bet spread while playing the player. I made a few bucks here and there. One day I was hustling a guy in this variant of poker that was forced. I was down $150 at that point and the next had I would have been up $300. The person I was trying to hustle called it quits at $150. I bounced him a check and he threatened my life. I laughed at him. Another person I was hustling in poker I found out was a gangbanger. I actually wasn’t too concerned. A gangbanger attending a university? Besides, I was homeless – I was suicidal. Please make good on your threats. Please.

I was sleeping on sofas and chairs in a dorm I used to live in until I was caught. I learned how to sleep while still being awake so if I heard footsteps or a door open I could wake up and walk outside as if I was never there. One day I got busted and took into an office with someone who was used to my residential adviser. He told me if I wasn’t 100% honest I’d be arrested for trespassing. I was. He let me go but said if I ever came back I’d be arrested. Weeks later he saw me on campus, and gave me his last $20 because he knew I needed it.

The things I didn’t experience include getting beat up, stabbed, killed. Who would try to find someone who stabbed or killed a homeless person? Doesn’t happen. Nobody cares. It’s almost the perfect crime for wannabe gang bangers. Luckily, my shoes have never been stolen. I had no backup supply. Who cares? Stores do. Stores have a no shirt, no shoes policy. How would I be able to steal food to get by if I didn’t have shoes? How could I still pretend to be a student on a university campus without shoes? Even if I recycled enough cans at night, how could I get in a store to buy shoes?

I was harassed by other homeless people. Walking downtown asking for some change? Nope. How about my watch? Nope. How about my headphones? Sorry. My little life possessions that couldn’t even fill up a shopping cart and here was some homeless person trying to get it. I had cans stolen when I tried to hide them.

Next Week – Eating and Survival

Well, the unimaginable has happened. S&P has downgraded US debt to AA+ from the AAA rating we’d had for as long as I can recall such things (It’s been AAA since 1941, which is before my time). Remember, this is the rating agency that missed the fact that Enron was a scam, and more unbelievably, agreed that by combining enough sub-prime debt into one security, you get AAA as a result. Personally, I think S&P should have gone the way of Arthur Andersen, and Bear Sterns. Instead, they are putting the recovery at risk. David Beers is the London-based managing director of sovereign credit ratings at Standard & Poor’s. You can view An Interview with S&P’s Global Head of Sovereign Ratings at Larry Kudlow’s blog.On to the roundup –

At Boomer and Echo, a clever post, 9 Ways To Avoid Buying Things You Don’t Need.  It’s really a trick for some to avoid accumulating too much stuff, as the growing decluttering movement shows, Booker gives some great advice on how to stop this process in its tracks.

At Credit, Eh I learned that Polymer Money is going to Replace Paper Money in Canada. Security, durability, and a cool new look. I’m curious how long currency will even be around, as electronic transactions seem to be taking over. I’d bet I touch less than 1% of our income as cash over the course of the year.

At Best Rates In, the prolific Miranda Marquit authored Choosing Amongst Credit Repair Companies. While I’ve been fortunate to never need such services, it’s good to know they are there for those that do.

Chrystal offers a great Retirement Checklist at Stupid Cents. Retirement seems to be on everyone’s mind, but have you really planned for it or are you just dreaming? Check out Chrystal’s list and see if you have any additions to suggest.

Nelson Smith suggest we Start Thinking Like A Wealthy Person. Not the Porsche driving glittering rich,  but the Dr Thomas Stanley type millionaires next door. A good lesson to learn and great advice to follow.

Fiscal Fizzle offered advice on Buying in Bulk for Singles and Small Families. Remember, it’s not saving if it spoils or is otherwise wasted. Buying in bulk takes a bit of practice and understanding, but can become a real money saver when done right.

Jason at Frugal Dad has a First of the Month Financial Routine. A seven step list, pretty neat. Mine is broken up a bit different as we’re paid every other week, so the bills, including credit cards, get processed then, along with the plans for the next two weeks. I update the balance sheet once a month as Jason does. With the S&P where it is now, I prefer not to look. Maybe August 31 will be better.

And last, I saw a late night tweet reminding me that August 5th was International Beer Day. I guess I need to mark the calendar for next year.