Home Repair and Emergency Funds

Recently our air conditioning went out in the worst part of the summer. We regularly cleaned the filters and flushed the water overflow line to get rid of any algae build-up. This still didn’t stop the old unit from leaking freon. It was a dying beast.

The cost to repair and parts availability made keeping the old unit a non-option. It was time to replace! Sadly though, our emergency fund didn’t not have the required funds. It was either secure a loan or allow the hvac company to use their high interest credit card deal with a major bank.

We opt’d to contact our bank and get a low interest loan that we can pay back quickly. We saved 18.5% interest by contacting our bank instead of using the hvac company financing.

Remember, no matter how bad it looks you have options most of the time.


2012 Federal Income Tax Brackets (IRS Tax Rates)

2012 Federal Income Tax Brackets (IRS Tax Rates)

Here’s a quick rundown of what the Federal income tax brackets are expected to look like in 2012:

Tax Bracket Married Filing Jointly Single
10% Bracket $0 – $17,400 $0 – $8,700
15% Bracket $17,400 – $70,700 $8,700 – $35,350
25% Bracket $70,700 – $142,700 $35,350 – $85,650
28% Bracket $142,700 – $217,450 $85,650 – $178,650
33% Bracket $217,450 – $388,350 $178,650 – $388,350
35% Bracket Over $388,350 Over $388,350