Tuesday, February 10, 2015
It's that time of year again, time to pay the piper and I've spotted multiple posts in my news feed lately regarding people's anticipation of their recently received or impending tax returns ($$)! Many of them joking about their once again "hood rich" status. For those of you not privy to this term, it's the state of mind when you have a large sum of money just long enough to look the part of nouveau riche to only end up "broke" in no time (at least that's my definition).
For those of you looking to make the most of your tax return in a responsible way, I have some suggestions that I have actually partaken in myself.
Tip 1- For those living Paycheck to Paycheck- Try taking your return and getting ahead on some of your fixed expenses (ie. an expense that costs the same every month) such as rent, car payments or life insurance. You'll see that by eliminating some of the pressure from bills and allocating a set amount you can put to the side monthly you actually end up with more money for the fun stuff.
Tip 2- For those with kiddies- Unfortunately, I know tons of parents out there that see that extra dough (child earned credit) as some form of payment for taking care of their kids throughout the year. I suggest you do the smart thing and invest it in your child's future. College is only expected to become more expensive and the job market more competitive. Another option is to put it aside for an extracurricular activity that your child may want to engage in. Certain activities like ballet, football and gymnastics can really break your pocketbooks if your not prepared when your little one gives you those puss in boots eyes because she wants to be a "ballerina princess".
Tip 3- Think Long-term- If you've been getting by fine on your paychecks put it towards an asset. Who says you have to be married before you entertain the idea of owning a home or even an apartment. You'd be surprised how fast you could own something in just 4-5 years of stashing those returns. Another option is stock. You don't have to be Jane Wall Street to invest in a brand that you are loyal to, especially with sites like E-Trade. While you probably won't become Warren Buffet you'd be surprised that your money can grow if you make a good choice. If your not the risky kind you could always stick it in a retirement plan, after all who knows where Social Security is bound to end up.
Tip 4- Make it worth the loss- If you must spend your money on something fun I say make it an experience and take that dream vacation.
While I'm no Financial Expert, I do know from experience that these tips definitely won't leave you with buyer's remorse or even have you saying "if I had that money again...I would..." 3 months from now. So spend wisely or don't spend at all and as always...
Tuesday, February 3, 2015
(Released February 2015)
Our 1st "Must-Have" for Winter 2015 is "For Girls Like You!" Devotional book for Tweens by Wynter Pitts, Founder of "For Girls Like You" Magazine & Resources for Girls. Pitts' online magazine is a hit with young Christian girls and her new book has been endorsed by both Bible Teacher Priscilla Shirer and Candace Cameron Bure, so far! I'm definitely going to grab a copy for my Young Lady!
For info on "For Girls Like You!" check out http://forgirlslikeyou.com/ and don't forget to suggest it to a young lady in your life!