Budgeting – many people hate the word and dread the thought. Here is a more friendly sounding term – Spending Plan. Budgeting is simply making a plan for how you spend your money. The idea of a budget can be intimidating, but the truth is anyone can do it and you don’t need to be […]
Earned Income Tax Credit
The Earned Income Tax Credit (EITC) is a federal, refundable tax credit from the Internal Revenue Service (IRS) that helps boost the incomes of low-wage, working families. In 2013, more than 354,000 Colorado taxpayers received $772 million in federal EITC refunds. Taxpayers who qualify for the federal EITC also qualify for the state EITC. Colorado’s […]
Experiencing loss of income is devastating
When you have had a loss of income, it can be devastating. You may face some very difficult financial decisions when your paychecks stop coming and you do not have enough money to cover your family’s basic living expenses. Spending habits must change when income is reduced and prioritizing needs vs wants is going to […]