Good Financial News for '09

Never before have Americans wanted so desperately for a year to end. But with 2008 came a tide of rotten luck that included gas hikes, grocery spikes, and failing banks. I think I can speak for a good majority of people when I say, take a hike 2008...HELLO 2009!

Kiplinger.com has made a list of 12 things to look forward to in 2009 <>, and I'm inclined to agree with all of them.

1. 2009 will be great for buying and refinancing.
Mortgages are at a 40-year low. This is especially good for first-time homebuyers and those who don't have to sell before buying. But, because it's such a good time to buy, those in a position to sell may see better returns in '09.

2. We're kicking debt to the curb.
The banks weren't the only ones wreaking havoc with money that wasn't theirs. Americans have had a nasty little debt problem for awhile, but if anything good came out of '08 it's that out of necessity and fear we've cut our debt and increased our savings rate by 2%. Experts agree the trend will continue well into ‘09.

3. Tax cuts are coming.
While most of us probably won't see raises and have lost 401(k) matches for the time being, we may still see an increase in our take home pay. This is because various tax cuts are being developed as part of a new stimulus package. At the forefront of these proposals is a suspension of Social Security taxes for low- to middle-income workers. Truth be told, if I'm never to see a dime of social security in my retirement, I'd rather keep it in my check, thank you.

As you can see, there's a lot going on and plenty to look forward to as we head into the new year. What are you looking forward to in the coming year? Do you think 2009 will be better than 2008, or more of the same? - Kristy Young