Dollars & Sense! – December 2009

Line up here for free government money and free tax filing help.

How many of the headlines these days are about the recession, recovery and all the government stimulus programs?? Yes, we are in the most difficult financial times as a country since the 1930s. And our leaders are throwing a lot of money into the economy to get things back to “normal”.

But all this can be misleading to the average person on the street. And the biggest thing I encounter is people calling me to find ways to get access to FREE federal dollars for school or save their home.

So, Repeat After Me, there is no such thing as free money for school or avoiding a mortgage payment. There are always strings attached and they are generally not obvious.

Any advertising you encounter offering “free government money” should be read very carefully. It is probably a scam and may even cost you some or all of your savings.

As a general rule, if you see it advertised on television or if you get unsolicited mail offering “free money”, be very careful. Promises made via these media sources are normally not in your best interest. It is not uncommon for the organization offering these “deals” to operate with a government sounding name such as Federal Grants Administration. They may have wonderful official looking web sites and appear very official.

Do not be fooled.

If they ask for personal information such as SSAN or bank accounts early in discussions be exceptionally careful. If they want cash from you, this is another warning. Think of this logically—if the money is to be free- why do they need your cash?? Free money ads are attractive to anyone in a financial squeeze. All I am saying is be very, very careful when inquiring from any source.

If you are intending to further your education, talk to the financial aid office at the school(s) of your choice. Other sources of financial information are the CAP Financial Independence Center (360-423-3430 x 248) and for mortgage issues call Family Finance Resource Center (360-423-9197). All these sources provide non-biased information and can assist you in finding assistance to reach your financial goals.

Regarding tax filing mentioned in the lead sentence, TAX AIDE may possibly be able to do your taxes for no fee. Watch for more information on this program in the next Bugler issue. In the mean time, do not pay someone to have your return completed in December or early January. Most families filing at this time are completing what is known as a refund anticipation return and end up signing for a loan with high interest and very high filing fee. Keep these costs in your own pocket. If you want information sooner than the next Bugler issue, call the CAP Financial Independence Center.

If you have questions about this article or have ideas for future topics, please contact the author @ 575-9395.

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