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Money In The News: Game of Thrones Star Broke, Unemployment Rate Down, Deducting Cat Food on Taxes, Starting an Emergency Fund

The Irish Times posts about how over $32 trillion in anonymous funds were revealed in off-shore bank accounts, and by who.

A number of high profile names were linked with offshore trusts and accounts, based mainly in the British Virgin Islands, including presidents, wealthy individuals and families, government officials, a British millionaire, and the eldest daughter of former president of the Philippines Ferdinand Marcos.

TMZ reports that Game of Thrones Star, Queen Cersei, is pretty much broke (not sure of the validity behind this entirely, but I know she is going through a divorce).

Actress Lena Headey — aka evil Queen Cersei from “Game of Thrones” — claims she’s dead broke with “less than $5 in her bank account” … and she desperately needs her tax refund to cover her living expenses.

Marketplace Economy posts about Unemployment falling to 7.6% with 88,000 jobs added to the industry.

The Bureau of Labor Statistics reports the economy added 88,000 jobs last month, falling below analyst expectations. The unemployment rate ticked down to 7.6 percent from 7.7 percent. posts about 6 steps to starting your emergency fund.

Make saving a non-negotiable expense.

Most people wrongly believe that they don’t have any income to save, because they expect the money to appear out of nowhere.

Savings is a process that you must be proactive in directing. Build the “expense” of saving into your budget, just as you’d approach a utility or credit card bill.

If you knew that going out to dinner with friends would make you unable to make your monthly car payment, for example, you’d have no choice but to postpone plans. Be just as disciplined about saving.

Generation X Finance posted an article about 9 crazy tax deductions that actually worked (Some of these make me go wtf?)

1. Cat Food
The Seawrights were allowed to deduct $300 for cat food. Yes, food for those fuzzy four legged pets that think that bringing their owners dead rodents and birds is the “cat’s meow” of a gift for a loved one.
The Seawrights argued that the deduction of the cat food was a legitimate business expense because they fed some feral cats on a regular basis, and the kibble kept the cats around the junk yard that they operated. Because the well fed cats regularly roamed around the junk yard, they hunted and killed rodents and snakes; so the cats were a natural source of pest control that protected their business.

About Crystal Groves, Google+

Crystal Groves is a farmer, web developer, musician, blogger, and personal finance enthusiast from the back hills of Maryland and Pennsylvania. She started Money Drain as a project to encourage people interested in fixing their financial situation to share their stories and learn from the stories of others. We all make mistakes, but in order to change we have to make changes.

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