5 Steps to Five Hundred Dollars

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The National Foundation For Credit Counseling's 5 Steps to Five Hundred Dollars
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Silver Spring, MD – With St. Patrick’s Day approaching, everyone’s thinking green, and there’s no better place to discover some green than in your wallet.

The National Foundation for Credit Counseling (NFCC) suggests the following small changes that can add up to equal a significant monthly saving:
  • Adjust your W-4 to accurately reflect your tax liability. Millions of people receive tax refunds each year. That means they’ve overpaid Uncle Sam with each and every paycheck. No one wants to end up owing more taxes than they’d planned for, but neither do you want to give the government an interest-free loan. The fix is simple: Go to www.irs.gov and type in the words “withholding allowances” in the search box. This will take you to a simple worksheet that you can complete to reveal the proper amount of allowances for your situation. Next, adjust your W-4, which can be done at any time during the year. Potential monthly savings: $200
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