Tag Archives: spending

Tips to receive the maximum benefit from your tax refund:

Are you eagerly anticipating to receive your tax refund for weeks? When it finally arrives, you spend it in one day? Many people view tax refunds as if they were unexpected bonuses. They see the funds as a gift from the government to be wasted. A tax refund provides you the opportunity to improve your financial situation.

• Tips to receive the maximum benefit from your tax refund
• Savings Bonds Tax Season
Pay what you owe:save your tax refund

Use your refund to reduce your debt as much as possible. Which you should pay off your credit cards. If you have an outstanding balance with more than one credit card, try to pay off the  credit card with the highest interest first. This will allow you to have more funds available to pay higher amounts on outstanding balances. Alternatively, you can use your refund to pay off other debts, such as an auto loan or a loan against the equity in your home.

Save for an emergency:

Why not maximize your tax refund to deposit it in a savings account in a certificate of deposit, or in a retirement fund? Your tax refund will continue to grow if you deposit it in a savings account or investment account. It is always beneficial to have a savings account which can make a withdrawal when you have a big expense such as car repair, a medical emergency or other unexpected expenses. This way you will prevent the need to add more to your burden of debt. Continue reading Tips to receive the maximum benefit from your tax refund:

Saving Money Tips on Airfare:

Saving Money Tips on Airfare:image

One of the most frequent frustrations when you are planning a trip and trying to save money is when you put in the spotlight a ticket for days or weeks and when you’re ready to buy, they suddenly raise the price. That’s when we complain of not having done the reservation earlier, when the price was still low and was on the days we had marked for travel. Continue reading Saving Money Tips on Airfare:

How to budget a household:

What is budget and why putting together a budget is important:

The budget details all household income and expenses. It is a very effective way of knowing how the money was spent, how much is needed for the satisfaction of basic needs and how income should be distributed to make it possible to fulfill all the obligations and achieve the important goals. Following are the steps of how to budget a household:

Your budget, plus help you identify your expenses and control your finances:

• It will help avoid impulse spending
• The guide to decide what can and cannot buy
• Allow you to keep track of how you spend your money
• Household budget will help create a savings plan
• Contribute to protect against the financial consequences of unforeseen events

Download free calculator:Household monthly budget calculator

The first Budget:

It is very likely for the first time you assemble a budget will be surprised with the amount of expenses facing your home every month. This realization is best to do as a family, thus each person can see what approach can work with maintaining the balance of the household bills.

Classifying expenditure:image
Classify your expenses and identify those that are easily reducible to see what you can save.
We suggest you classify structural or compulsory costs (rent, electricity, water, etc.), costs of basic necessities (food, basic clothing, transportation, etc.) and discretionary costs (entertainment, tourism, no basic clothing, etc.)

Structural costs are directly related to lifestyle, are difficult to change at short notice.

As for the necessities, you can decide when and where the purchase is made. It is recommended that, besides taking note of them, choose a single payment and that is easily maintained. This will buy more easily and increase control over these expenses. Pay with one credit card and making a payment on the payment date can be used to meet the expenses list and have a better control. Easily you can identify “where the money is going”.

Regarding discretionary spending is also advisable to select a single payment as a way to maximize control. Payment by credit card or debit card has the advantage of having a limit for this type of expenditure. This expenditure can be reduced if the first aims to save or going through adverse or uncertain circumstances. Continue reading How to budget a household: