Last week, in Learn What to Spend and Where to Save – Part 1, I wrote about buckets to consider when setting up your budget. Although it’s different for everyone, it’s important to understand the types of saving you need for different goals in your life and how much you should constrain yourself on spending. This week I’ll offer some great places to put your money based on my research and own experience. If you have any suggestions you want to offer, feel free to help the readers by adding your recommendations to the comments below.
Alright men, next Sunday is when restaurants, card makers, jewelers, flower growers, etc. expect you to save them from a struggling economy and spend your past month’s worth of income on your girlfriend/spouse/date… This may sound like an overwhelming task, but you may be able to earn a few brownie points from the lady with some creative yet low cost ideas. Here are some ideas provided by women I asked about surviving Valentine’s Day without breaking the bank. Feel free to share your own creative ideas in the comments below.
Taxes aren’t easy. We can all agree on that, but given that we have to do them let’s make the most of it. If I told you that I would pay you $5,000 for 5 hours of your time would you take it? You might ask, “What’s the catch?” The catch is, you have to actually think about your taxes for a few hours, calculate your deductions, and enter it into your tax software. If you do, your tax refund may increase by $5,000 or more.
Continue reading Save Five Grand in Five Hours with Tax Deductions
When you first get a job, change your income, or just start thinking about where to put your money it’s easy to get lost. It’s easy to spend, but if you’re reading this you probably know it’s wise to save. Where should I put my money? How much can I spend? Do I put more in Long term or Short Term savings? All are great questions.
The internet has brought a wealth of information to our fingertips. Some of this great information includes the numerous deal sites online that allow people all over the country and world to share ways to save a buck or find the best price for anything and everything. These sites come in the form of blogs like this one or forums where users discuss how to save. Below are some of my favorites. Check them out next time you plan to make a purchase and you may be surprised to find how much you can save.
“Two things are certain in life, death and taxes” – Ben Franklin. Get ready to get out the old calculator, pencil, and tax book and spend the next few months figuring out how to file your taxes with Uncle Sam. Better yet, I’m putting together a guide to help make sure taxes this year are as painless as possible. So start here and come back every week for a new tip.
I was recently approached by some close friends dealing with a common healthcare situation. As a married couple expecting a baby, my friends are preparing for a huge life change and some potentially sky-high healthcare costs. After the baby, the father will be the only worker and is self-employed. In order to help him and everyone using healthcare, I have written about some ways to save on health insurance for the self-employed and also for those receiving insurance from their jobs.
In life, time is often times our most valuable asset. In an attempt to simplify my finances and reduce the amount of time I spend on them, I have tried to minimize the number of banks I use and focus on banks that provide me quick and, at times, instant services.
Continue reading How Not to Waste Time at the Bank
Buying contact lenses is one of the best purchases I make each year. I know that a large part of my eye problems comes from the fact that I stare at a computer all day and perhaps I can work on that, but now that my eyes aren’t what they used to be, I love “putting my eyes in” every morning and enjoying 20/20 vision. Purchasing contacts, though, is not always a great experience.
I recently came across a post at the finance forum Bogleheads regarding investing for retirement. There are a countless number of strategies out there, but most of them don’t help the average person easily invest for retirement. Although good in their intent, trying to explain to someone not familiar with the world of finance how to best allocate their retirement funds, annually rebalance their portfolio, or optimize their foreign currency diversification is not effective. I’ve decided to simplify the discussion for most people so that anyone can easily prepare for retirement without making investing their job or only hobby. Continue reading How to Save for Retirement if Finance is Not Your Life