Palm State Mortgage Company asks you “What is Your F. Q. ?”  If an I.Q. measures your intelligence, then we at Palm State Mortgage Company think you should also have an  “Financial Quotient.”  F.Q. is our term for rating your common sense with money matters. It not only includes only your credit score, but also your spending habits and your budget strategy.

There is a national campaign sponsored by the American Institute of Certified Public Accountants (AICPA) and The Advertising Council which gives you tools to analyze your “spending personality.”Find out what they mean when ask you if you “feed the pig.”

For all the details and cool tools, click here.   The goal of the campaign is to assist Americans in assuming fiscal resposibility with our their personal finances. There are books that can help you raise your F.Q. For an example, just Click here.

As we define it, your F.Q. tells you how smart you are about your money, regardless of how wealthy you might be. It also includes how aware you are of the money world, from the stock market to the value of a cup of coffee. This brings us to an important point; how will you manage your tax refund? (Or, if you already received it, what did you do with it?) We wonder if you will do the same thing next year.

People have very differing views of their tax refund dollars. Some people think of that check as a free gift from the government. Others take this view: “That check is the repayment of interest-free loan that you gave to the government last year. It’s your money, just like your monthly paycheck. And the only difference is that it comes in one lump sum after you file your tax return, with US Treasury written across the top.” Click here to learn more. So, what ARE Floridians doing with their tax rebates? We did some research and developed some suggestions for you:

  • Pay down your Home Equity Line.
  • Apply it toward a six month emergency fund.
  • Completely pay off one small (or maybe large) debt.
  • Pay off the credit card that demands the highest interest rate.
  • Put it toward a down payment on a home.

For more good ideas about wonderful ways to spend your tax refund, click here.  If you decide to raise your F.Q. (financial quotient) with one of these suggestions, we still advise you to take 15-20 percent of your refund and buy something very special to satisfy that “free money” frame of mind.  From beautiful Orlando, Palm State Mortgage thanks you for reading our blog. We strive to bring you helpful tips about money matters as well as mortgages. May you have many happy refunds!