Thank You State of Alaska!!

Every year the State of Alaska gives a check to every Alaskan, this is called the Permanent Fund Dividend. It was set up in the 70's during a time when the state was in the beginning stages of oil development. There were several politicians who felt that the resources on the land belonged to the people of that land. So they set up a fund that gets paid into by a small percentage of the oil revenue that the State of Alaska makes each year. Then, each fall, the State of Alaska pays a certain amount out to every Alaskan. They just announced the amount of this years check. So, on October 4th, Sherri and I will each receive $1,106.96. Just for living here. That will be a nice little $2,200 bonus for us!! They also do a 6 year outlook and estimate what the checks will be for the next few years and they are saying that the check amount will continue to rise quickly!! Next years checks will probably be in the $1350 - $1450 range. It is a great boost to the local economy every October because there is so much extra money. This is a very common time for people to take vacations and make big purchases. Figure this, the average family, with 2 adults and 3 kids will get an extra $5,500. That can certainly help a family's budget!! The largest dividend check payout was in 2000 when the checks were $1,963.86. They expect that record to be broken in the next few years though as dividend check amounts rise. Last years checks were $845.76, so we had a pretty big jump in this years check amount! The Permanent Fund is a pretty amazing concept, you can learn more about it and how it works at www.apfc.org