PUBLIC ADVOCACY: Understanding Finances and Climate change

1. Ways the middle class loses out:
If you pay down your credit card debt, the settlement negotiated is free of income taxes. However, you have to agree in advance that the payment made to the card issuer is full and final settlement of the agreed upon debt. Otherwise, if you negotiate a settlement, the balance of the debt forgiven, may be considered income and becomes taxable by the IRS. Be mindful to discuss this fact with the card issuer, prior to paying down debt.

2. If you purchase a whole life policy, the loan and interest are taxable if you cancel the policy. Once the policy is cancelled, the interest and loan is considered income by the IRS. Remember that fact when considering policy cancellation, try to review the loan history and it’s tax consequences with your accountant.

3.BEWARE HIDDEN CHARGES: The other day I attempted to pay my cable vision bill electronically. I got caught in a loop and could not complete the transaction. When I requested a customer service representative, I was told that they had now instituted a $10.00 fee for paying your bill through a customer service rep. I immediately stated my difficulty paying the bill electronically and requested that no fee be levied at this time. They agreed to waive their fee and completed the payment transaction. It takes time and thought to be aware, but it costs money if we are less mindful. We have a choice.

4. LOL As we debate CLIMATE CHANGE, our world is indeed changing. How are we to pursue a healthy MEDITERRANEAN DIET, if some of the necessary ingredients, like Seafood and Mussel’s no longer exist? Byassal threads , the strong , stretchy filaments that anchor mussels to hard surfaces and to one another, are more likely to snap in warmer waters. Thus climate change may have major consequences for the food chain and commercial fisherman. NY. Times Business Section.

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