Improving your home's energy efficiency saves money each month on your utility bill, and can also mean a free bonus from the IRS. Check out the list at Energystar.gov for the latest credits which can offset your purchase costs. Check with your local utility company as well to … [Read more...] about Don’t forget to claim tax benefits on home energy improvements
Take advantage of Flexible Spending Accounts (FSAs)
If your employer offers health insurance, check if you can take advantage of an FSA. These accounts let you take a tax deduction on money you put aside for health care. Since you are going to spend the money anyway, this is a great way to cut back on the cost. Plus you can use … [Read more...] about Take advantage of Flexible Spending Accounts (FSAs)
Maximize your employer “match” for bonus retirement money
Check with your HR/benefits department to see if your employer offers a 401(k) match program where they add onto your retirement savings. If they do, think of it like a free money bonus for your retirement and try to maximize that match (i.e., put in as much as they will match … [Read more...] about Maximize your employer “match” for bonus retirement money
“Invest” in paying down debt, for high “returns”
If you are paying high interest rates on debt, beyond what you stand to earn on your investments, you might come out ahead by redirecting those investment dollars towards debt reduction. Consider that if you are paying 20% a year on your credit card balance, but earning 5-10% in … [Read more...] about “Invest” in paying down debt, for high “returns”
Savings bonds often pay more, with less tax, than savings accounts
Savings bonds aren't just for kids; they can provide anyone with a low risk investment alternative to savings accounts, CDs or high-yield checking accounts, and are less restrictive than you might think. Plus, they often pay higher interest rates than savings accounts and offer … [Read more...] about Savings bonds often pay more, with less tax, than savings accounts