Are You Expecting A Tax Refund This Year?
If you are expecting a tax refund this year, you might want to consider visiting your Human Resource or Payroll Department and adjusting your Form W-4. By changing your W-4 withholdings so that you get more money each pay period and less of a refund next year, you might get some extra money to use in your pocket.
Here are some budgeting ideas to consider if you are expecting a tax refund this year:
Finding An Advisory Service
It depends on your level of understanding of the market and the amount of money you have. If you a sophisticated investor with a substantial amount invested you are probably already receiving more than one. If you have very little market savvy it will be difficult to choose one that fits the size of your portfolio. If you are just getting started my advice is don’t buy one - yet. In the last 100 years we have had 30 bear markets which are defined as the overall market going down more than 20 percent and some more than 40 percent. The NASDAQ recently tumbled 78%. Even the best stocks and mutual funds will go down in a bear market because they act like ships - when the tide goes out all ships go down with it. You don’t want to have any market positions at that time.
Financial Management: Throw Away The Budget
I HATE budgets! I do. I hate them. Something inside of me just sees budgets and regresses into being a child who shuts his mouth tightly, refusing to take his medicine. I have watched talk shows where hopeful couples are told, ?well, you will have to be on a strict budget and it will be 3-5 years before you turn this thing around.? The color goes from their faces and they look stunned for the rest of the show.
Making Shopping Lists
Most people these days are in a position to comfortably pay for the necessities of life. Bills like rent and electricity as well as food and clothing expenses, while not cheap, are at least affordable for most people who are in employment. What cause most people the financial hardships that they experience are the discretionary expenditures that they make.
This is the money spend on things that they do not really need, and sometimes do not even want, but are enticed into buying while shopping. There is a field of science that retailers spend millions of pounds on every year that studies what is most likely to make people spend money in stores.
Money Matters: Savings A Key To Economic Power
Money? If you have a lot of money then you probably don?t need to read this article?or, do you? If you only have a little money or you are broke, this information probably won?t help you?or, will it?
Whether you have money or not, the chances are that you have some kind of credit debt like a home loan, car loan, credit cards and the like. But do you have a savings account? Are you able to save any money from your income? If not, here?s a tip you should keep in mind: Pay yourself 10% of your income to a savings account before you pay anything else and here?s why; you are your most important utility. It is you that gets up and goes to work everyday, it is you that manages the household, the bills and other responsibilities in life. Without you nobody gets paid?not the mortgage, not the car loan, not the bills and other debts.
Your Broker Isn’t A Crook He Is Ignorant
Why does Wall Street hate me? Because I tell the truth and truth is something they can?t abide. The little guy (that?s someone with less than a 7-figure account) gets no real help. Every small investor is a Rodney Dangerfield. If Joe Sixpack happens to make a few bucks they will take credit for helping him, but when he loses his money as he did in the bear market of 2000 ? 2002 that is not their fault.
The little guy with the $5,000-$50,000 account could have been saved and his losses kept at about 10% if the moguls in New York had instructed their brokers how to protect customer?s funds. It is not done and has never been done.
Savings Accounts An Overview
Being in control of your finances means not only managing your current account wisely, but planning ahead too. Although we are used to thinking we will have the welfare state to fall back on, the support offered by state benefits is far from generous - most people would struggle to exist on a basic pension alone.
Furthermore, our ageing population face an uncertain future as demographics change ? by the time today?s thirty-year olds reach retirement there?s no telling how the economic situation will look. Aside from planning your retirement, you ought to have something to fall back on in case there?s a sudden change in your circumstances ? how would you manage if illness or redundancy curtailed your earnings?
Bank Safely And Securely
In this age of the Internet, there has been a transformation in the way people bank. Most transactions can be conducted online, and one can access cash fast from innumerable ATMs strewn all over cities and towns. What is more, with internal tie-ups, you can even use ATMs of banks other than your own. All of which makes banking very easy and user-friendly.
At the same time, it also makes you vulnerable to cheating by tricksters and identity thieves, who steal your money by accessing your information. Cyber crimes have become very common these days, and if you are not careful, you could lose your hard earned money to these unscrupulous people. Although most banks have data encryption security, it is still not 100 % hacker proof, in spite of the claims made by banks.
Want More Money? Here’s A No Gimmick Idea Guaranteed To Work If You Work It!
You will often hear me recommend that you use cash for purchases whenever you can. There are many reasons for this.
The most common argument I hear against using cash is: ?I spend it too fast?, followed closely with ?then I wouldn?t get the points on my credit card?. The credit card issue is a separate one, and is easily answered as well, but the first issue needs to be addressed before you can benefit from the credit card points anyway.
How To Open A Bank Account
1. Choose a banking institution.
Ask your friends and family where they bank and if they like it. What services are important to you? Do you want 24-telephone banking? Is it important that they have lots of ATM machines (automated teller machines)?
You might also consider opening your account at a credit union. A credit union is a smaller banking institution that is limited to a certain segment of the population (sometimes by region or employment). Credit unions often offer higher interest rates on investments and lower interest rates on loans; they can afford to do this because they are non-profit organizations who are taxed differently than banks. There are some disadvantages, however, including fewer ATM, sometimes shortened store hours, and possibly a difference in services. You might not even know that you are qualified for membership at a credit union, so consider doing some research.