Saving (not spending) vs spending.....the real costs & savings

[freemotion]

Money saved by not spending is money not taxed.....exactly my thinking!

 

[me&thegals]

Money saved by not spending is money not taxed.....exactly my thinking!

Only if it is stuck under your bed or buried in the backyard. Sorry to be a wet blanket , but I have to report my income from interest each year.

 

[freemotion]

I don't mean that kind of saving. I mean stuff like growing my own food so I don't have to work as much to earn taxable income to go and buy it. That kind of saving. Not savings account saving. I pay all my taxes that I owe. All. But durned if I'm gonna count my 50 oz of wild elderberry juice as income!!! Shall I send 15 oz to the IRS? Naaah! This way, I don't have to give any of it as tax. If I worked for money, I would have to give a chunk back. If I saved it, I'd have to give another chunk back.

If I save it in a "hen savings account" and she pays me interest in eggs and more hens and a few roosters for the freezer, that is not taxed, so I keep 100%.

If I have to earn money to buy chicken, eggs, broth, sandwich meat, and fertilizer for my flower gardens and lawn (plus I also get "chicken therapy" as often as I need it! ,) I have to give a chunk of those earnings to Uncle Sam and MassDOR. Then I have to pay sales tax when I spend the earned money.

 

[me&thegals]

Oh, sorry. I see what you mean now!

 

[freemotion]

Yeah, my thinking can be convoluted at times!

 

[enjoy the ride]

A penny saved is a penny earned?

 

[freemotion]

A wheat berry planted is money saved! With interest! That does not have to be earned!