The Dave Ramsay method also is based on the amount of monthly payment you are making. By paying off the lowest balance first, you will then have the monthly payment you were paying on that debt available to apply to the next lowest balance, along with the amount you were paying there. It is a cash flow thing that tends to work for those folks who can do it.

 

I agree with Clyde though that it has a lot to do with personality and human nature, and my nature is to focus on the high interest debt first.

 

One thing I do somewhat agree with DR is to be "low debt."

One thing I do somewhat agree with DR is to be "low debt."

 

That is the key.

That is the key.

 

I'm always stunned to see how much debt people rack up.

My favorite thing about Dave Ramsay is his "better than I deserve" line. I use it a lot.

I'm not ready yet but I do know I have about 5,000 miles I get to count off my taxes this year. Not sure in how that will figure in to what I owe or get returned, but I figure it has to be worth some money off my taxes.

^It depends on what the miles are for (i.e. medical, personal, business, etc.)

I usually do ours with turbotax. Normally do it as soon as all of our needed forms/documents are in.

 

I do have a question. Last year my brother in law gave me and my wife 50 shares of stock. He also gave each of my two kids 50 shares. I haven't done anything with the stock yet. Do I have to file any thing on that?

I will do my personal one on April 16th this year, lol. Im partner in several small ventures and have about 6 corporate returns that have to be done first before I can think about my personal return. Doesn't bother me though, I kinda enjoy doing them.....except for the paying tax part.

I'm a Dave Ramsey disciple. 3 years (Lord willing) until the Parkers have our house paid off....leg lamp & all. Will be nice at age 37 to accomplish that.

 

As for taxes, I'll get them done as soon as we get both W2's. A friend of mine has a business & he's taken care of us for several years. I like having my money all year long, as opposed to getting it all back in a refund. I play a little game, trying to get as close to $0 as I can. I'm not angry if I get back or have to pay $500 or less. Last year, we got back $62. Probably as close as I'll ever get.

I'm not ready yet but I do know I have about 5,000 miles I get to count off my taxes this year. Not sure in how that will figure in to what I owe or get returned, but I figure it has to be worth some money off my taxes.

 

If you itemize it will add a nice deduction. If you do not itemize it will not have any impact.

I usually do ours with turbotax. Normally do it as soon as all of our needed forms/documents are in.

 

I do have a question. Last year my brother in law gave me and my wife 50 shares of stock. He also gave each of my two kids 50 shares. I haven't done anything with the stock yet. Do I have to file any thing on that?

 

No.

If you itemize it will add a nice deduction. If you do not itemize it will not have any impact.

 

Didn't the mileage rate change halfway through the year? Increase by 3-4 cents?

Didn't the mileage rate change halfway through the year? Increase by 3-4 cents?

 

For the 2nd half of the year it went up 4.5 cents.

Didn't the mileage rate change halfway through the year? Increase by 3-4 cents?

 

It increased to $.555 per mile...

Do my own. Mine will go out April 17th with me owing just enough not to pay a penalty.