Archives for Savings

Graduating This Year? Three Financial Tips You Need To Know

Nearly four million students across the nation graduate from college each year. Without a doubt, you could find yourself in this position right now. Jumping into the real world often proves unnerving and difficult for many graduates. Perhaps the most common problem revolves around personal finances. After graduating from school, you’ll face countless financial situations and hurdles.

Here are some tips for setting yourself up for financial success:

Start Saving Immediately.

Chances are high that you’ve paid bills for years now. However, this could have led you down the path to ignoring your savings. Nothing is more important than saving money after graduation, though. It’s impossible to know when financial emergencies and unexpected expenses will arise. Therefore, you should save wherever possible by reducing your expenses and putting away those savings for later use.

Stay As Debt-Free As Possible.

Your debts can become overwhelming no matter how much you earn. For that reason, the biggest goal after graduation should involve avoiding debt. Student loans might require repayment, but you should avoid letting credit card balances creep upward. An auto loan might prove necessary, and some debt is unavoidable. Still, you cannot let debt grow to the point where it cannot be managed, so exercise caution here.

Leave Taxes and Accounting To The Professionals.

Upon graduating from college, you’ll be doing a lot with money. Your tax return will start getting more complicated, and the sames goes for your finances. A Miami tax preparer should handle your federal and state income returns each year. For busy graduates, financial planning or bookkeeping services in Miami could prove invaluable. Such professionals can help you manage your money and tax bills more effectively.

Don’t Let Your Finances Become Overwhelming!

The joyous feeling of graduation often gives way to the less exciting reality of life after college. At this point, your finances are going to become complicated, and it might seem like money flows out of your wallet. Anyone, including yourself, can get a hold of their finances with the right tactics. You need to minimize your debt and put money away when possible. From there, it never hurts to consult the professionals on financial and tax matters.

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3 Ways To Keep Summer Kids Entertained On A Budget

When kids are out for the long summer, they need to be entertained to prevent boredom. Many activities that you can plan on a budget are either free or low cost. Follow these three tips to keep your kids busy this summer. You do not need to spend a lot of money for your kids to have a great time.

Before the summer break, develop a new budget that will allow for fun activities. Bookkeeping services in Miami can help you develop a budget that gives you more disposable income. A Miami tax preparer can also find savings that will add to your entertainment budget.

Parks and Recreation Centers

Most cities in the nation have a local parks and recreation center where you can sign your kids up for many fun activities. They even have summer camps that do not cost a lot of money. If you live in a large city, there will be multiple recreation centers where your kids can enroll in different programs. Most recreation centers offer health and fitness programs, arts and craft programs and classes for a number of hobbies that kids enjoy.

Public Library

Your local library offers reading programs and other activities that your kids will enjoy. Summer reading clubs encourage your kids to read more books. They also offer story time, coloring pages, history lessons and other activities. Kids can log onto the Internet inside the library and go to cool websites made just for kids.

State and National Parks

If your kids enjoy camping, then consider your local state or national parks for a great source of entertainment. Most state and national parks are free or charge a small fee for their summer programs. Why not take a road trip and camp out for a few days for a nominal charge. They offer nature walks, horseback riding, hiking and more. Some parks are located near streams, rivers or lakes where boating is a popular activity that kids enjoy.

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3 Tricky Tax Tips Designed for Small Businesses to Save Money

One of the most important concepts in business it to save money where you can. Taxes are one of the places where small businesses can save the most money, though only if you know how to do so.

Let’s examine some of the lesser known tax-saving strategies you can enact to save money when tax time comes for your small business.

1. Deduct Opening Expenses

Expenses that occur while your business operates can be deducted as current business expenses. This includes things like office rent and the cost of utilities

Before your business opens for business, you must deduct your expenses as capital expenses. You are allowed to deduct up to $5,000 the first year and the remainder over the next 15 years when you open your business.

Ensure that these are calculated properly to save more on your small business’s taxes.

2. Deduct Travel Costs

Travel is one of the most costly things associated with small business because you are in a unique position where you lack the negotiation power to contract better rates with the companies like airlines and hotels necessary for keeping travel costs down.

The good news is that everything from your plane trips to automobile rent can be deducted as a business expense. You just need to keep a detailed log of it to support your tax documentation.

3. Legal Fees

Another thing many small businesses fail to realize is that legal fees are considered completely tax-deductible. Everything from the cost of lawyers to the cost of a Miami bookkeeper may be deducted as a business expense.

This means that you could save taxes, headaches and unfortunate legal repercussions simply by choosing to pay a qualified party to engage in legal activities.

Furthermore, things like opting for accounting services in Miami can help you keep your business running more efficiently. You can find other places to save while deducting the cost of this service from your small business’s taxes.

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5 Money-Saving Tips When Going on Vacation

Planning a vacation is part of the fun of getting away for some rest and relaxation. An important part of the planning process is to make a budget so you won’t be tempted to overspend. In deciding how much everything will cost on your trip, keep in mind the following money-saving tips.

Travel off-season.

Book your train, bus, and airline fares well ahead of time for an off-season vacation. This can get you the lowest fares of the year in some cases. In addition to saving money, resort areas will be less crowded.

Use discount points.

If you collect frequent flier points or participate in a hotel or motel rewards program, use your points for vacation bookings to get great discounts on travel and lodging. AAA and AARP, among other organizations, offer discount prices at many venues for eligible members. Some credit cards offer cash-back discounts on vacation destinations.

Economize meals.

Since you will be busy site-seeing or relaxing during your vacation, you may feel like eating less than usual. Take advantage of a diminished appetite to skip a meal like lunch or substitute snacks instead. Not only will you save money, but you will probably have more energy for daytime activities and get hungry enough to enjoy a special dinner.

Shop online for coupons.

Many hotels and restaurants feature special pricing at certain times of the year and specific days of the week. Browse the websites of those you plan to visit or do some comparison shopping. You can often find great deals by checking out the coupon sites, as well.

Cut costs with guests or kids.

You may want to share meals, appetizers, or even lodging with friends or relatives that come along on the trip. Kids can often eat free or at reduced prices at certain family restaurants. Take advantage of group discounts.

With a little forethought and budgetary planning, you can save money and enjoy your vacation even more.

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3 Financial Tips College Graduates Should Know

If you are about to graduate from college, there are a few financial tips that you need to know to make the transition from school to adulthood as smooth as possible. Let’s take a look at how to deal with student loans and make sure that you have enough money in the bank from month to month.

1) Don’t Hesitate to Ask for Help Managing Your Money

Using bookkeeping services in Miami can help you create a budget, account for any unexpected windfalls and reduce your tax burden. Staying on top of every dollar that goes in and goes out can make it easier to pay bills on time and accumulate savings for both now and the future.

2) Don’t Forget Taxes If You Are Self-Employed

Many young people turn to the Internet to make a few extra dollars. However, self-employed individuals have to account for self-employment taxes that are typically withheld by an employer. Therefore, it may be worthwhile to consult with a Miami tax preparer to ensure that taxes are paid and returns are filed in a timely manner.

3) Pay Cash Whenever Possible

If you have student loans, you have enough debt to worry about. Instead of buying a new car or racking up credit card debt, you should only buy something if you have the case to do so. While this requires discipline on your part, you will feel better about the purchases that you make and pay less for them over the long haul.

Graduating from college means that you have to take responsibility for your own finances. However, this can be accomplished with the right advisers and the use of some common sense when it comes to what you spend your money on. As you get older and gain more experience, you will become a pro at managing your money and gain financial security.

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How Your Small Business Can Increase Profits

Woman making coffee in restaurant smilingWhen a small business fails to make a profit, or even fails to increase their profits from last year, the first answer people turn to is that those outcomes are simply the facts of life for small businesses.

But does that really have to be the case?

The answer is an emphatic no. By simply focusing on maximizing profits in a few key areas, small businesses from virtually all walks of life can increase their profits. If you find yourself in one of the positions mentioned above, there are actually several things you can do that will turn the tide.

Your small business doesn’t have to deal in small profits. If you are serious about taking your business to the next level, then there are several things you can, or at the very least try:

• Consider the value of cross-selling to increase your sales: This sounds disingenuous, but if your business sells one thing, it stands to reason that there are similar products that you can offer, as well. The idea is to find something affordable and appealing that can complement what you currently bring to the table. With a little research, you can almost certainly find something.
• Take social media seriously: How is your current approach to social media? Many small businesses struggle to maximize profits for the simple reason that they do not take social media seriously. If you have a Facebook page that is almost never updated, it is definitely time to do something about that. Find the social media hubs that your customers use the most frequently, and begin to build content that makes them feel respected and involved.
• Outsourcing? Create a master list of all the administrative tasks your business currently handles. Would it be possible to save money by outsourcing those tasks, or even bringing in people to handle them on a part-time basis?
• Embrace relationship-based business models: While this is not something that every business can do, many small companies can take advantage of a relationship-based business model. The idea here is to create bundles or subscription services that entice people to come back by a discount for repeat visits.
• Automate your business: Taking automation seriously (such as creating a system for employees to process and manage all information related to the business) is a great way to increase efficiency, and therefore increase profit margins.

Your small business can indeed succeed beyond your wildest expectations. These tips will help.

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5 Tips To Save Money On New Technology

Smiling businesswoman holding blank computerFor a small business owner, saving money is essential. However, when you’re dealing with the subject of technology, and how that relates to the needs of your small business, saving money can feel like an impossible venture. You want to keep up with the products and other items related to your business, but you don’t want to wind up in the red in the bargain.

Thankfully, there are a few things you can do that will make it possible to have the tech you need, but without having to break the bank. A new computer can run you anywhere from a couple hundred to several thousand dollars. New smartphones can start in the low 100s, and very quickly rise from there. If you need to keep up with the constant cycle of new technology, you’re quickly going to feel like you’re in over your head.

You don’t have to become overwhelmed, and you certainly don’t have to sink yourself into debit. Saving money on new technology is actually a lot easier than you probably think it is:

• Invest in technology that is actually going to last for a little while: Chances are, you really don’t need to keep up with technology cycles that are out there. Find devices that match up to what you know you need for your business, and stick with them for as long as you possibly can.
• Value need over want: This tip ties into the suggestion illustrated above. In this day and age, it is extremely easy to get sucked in to the desire for the hottest gadgets. Ask yourself if you really need that new smartphone or laptop, or if what you currently have is giving you everything you need.
• What about upgrades: In many cases, upgrades to what you currently have can give you the boost you need, rather than a new device that costs hundreds or even thousands of dollars.
• Is brand loyalty essential? We are creatures of habit. This is true of many things, and it can even be true of the technology we purchase. If you find yourself sticking to a certain brand, and you’re not doing any research on cheaper alternatives, you may want to reconsider how you approach purchasing new items. Striking brand loyalty from your consciousness is a step that can easily save you money.
• Used isn’t always good: Research anything you consider.

These are just a few simple things you can do.

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The 4 Best Ways to Protect Your Bank Accounts

iStock_000002640425MediumBanking has changed for the better over the years allowing for more convenience and quicker access to your cash. However, as a result of technology and increased online banking, security has been compromised to some degree. If you want to ensure that your bank accounts are properly protected and that your money is secure, there are a few things that you can do.

Here are the top ways to protect your various bank accounts:

1. Don’t Give Out Your Personal Information
The easiest way for your bank accounts to be infiltrated by thieves is for your personal information to make its way to the wrong source. It is never a good idea to give your personal or banking information to an unsolicited request. This includes both over the phone and through email. Phishers have been created by hackers that are looking to get your information by creating internet pages that look credible.

2. Check Your Statements Regularly
It is important that you are proactive about your bank account protection. You shouldn’t wait for your bank to notify you of suspicious charges. You need to be taking a close look at your bank statements each and every month. This will enable you to notice any fraudulent charges right away.

3. Don’t Disclose Your PIN Number
Your PIN number allows you to access the funds within your bank accounts and is a private number that you should not just give to anyone. Only you should have access to your PIN number and it is also a good idea to reset this number often. Protecting your PIN number is where you have to begin with protecting your bank accounts. If you do have your PIN number written down, make sure that it is stored in a secure location. Otherwise, just be sure to have this number memorized.

4. Enroll in a Monitoring Program
Many banks offer security monitoring for your accounts that offers high amounts of protection. This is a precaution that you should look to take to ensure that all of your accounts are constantly monitored. You will be notified if any charges or withdraws occur that could be fraudulent.

Banking is now simpler than ever before, but you are also at increased risk of theft. These simple steps can make a big difference and can offer high amounts of peace or mind. Having a bank account is necessary and so is taking the proper precautions.

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3 Home Items You Can’t Afford to Skimp On

Coffee cup - cup of coffee 2 with clipping pathSaving money on household items can be a good thing, but sometimes it can cost you in the long run. You need to know what home items aren’t really worth skimping on. There are some household items that can be purchased at a discount, but won’t offer the durability and quality that you desire. Pinching your pennies around your home can be a good habit to get into, but splurging on a few items isn’t as bad as it might seem. In fact, it is better to splurge every now and then in order to get value.

Here are just a few of the household items that really aren’t worth skimping on:

Vacuum Cleaner
Your flooring adds both style and function to your home, which means that it needs to be cared for properly. A vacuum cleaner is a household necessity if you have any carpet lining your floors. You might think that buying a cheap vacuum cleaner is the way to save big, but it will only cost you in the long run. A smart budget for a vacuum cleaner is actually between $250.00 and $400.00. This might seem pretty expensive compared to the cheap vacuums you can find at retail stores, but durability and better suction is what makes the splurge worth it. More expensive vacuums will get more use and will clean your carpets more thoroughly. This allows you to get a longer lifespan out of your carpets and might just save you money in the end.

Coffee Maker
Instead of buying a cheap coffee maker that gets no use, you can stop your daily trips to Starbucks by investing in a high quality coffee maker from a well-known brand. When you are looking to skimp and save, you might think that luxuries like coffee are the place to start, but that’s not entirely best for your budget. A high-end coffee maker priced at around $200.00 will actually pay for itself in just the first year alone. You will now be making your morning cups of coffee at home instead of frequenting the coffee shop that is on your way to work.

Cookware
Quality pots, dishes and pans can last for decades if you make the right purchase initially. Instead of trying to save big, you need to concentrate on quality. You might be paying more money upfront, but you will only have to make one purchase.

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7 Types of Investments You Should Have

beautiful business woman brainstorming with diagram and connectiIf you want to make the most out of your money, then one of the best ideas that you can have is to invest it. However, there are numerous types of investments, and each one of them brings its own risks and return values. The main idea is that the more you invest, the higher will be the risk of not being able to get your money back. In this article, we are going to focus on some of the best investment types that you can find on the market.

1. Bank savings
Most of us invest money into a bank account, because this is where you can get some interest on them. Sure, the interest is quite low and this might not be a great solution if you are looking for the best long-term value, but what you do get is stability and a steady, predictable income that will come from your investment.

2. Bonds
Through these you lend money to the government or councils and then you will receive an interest rate in return, that usually comes in the form of a coupon. The best thing here is that you can easily sell your bonds early, which makes them a better solution than term deposits for example. The downside is that their price can vary quite a lot.

3. Shares
Buying shares is a good idea if you want to invest in a company, and the more shares you get, the higher the amount of the company you will be able to own. In time, you will receive a share of the profit, which is called a dividend. Be aware though that shares prices can vary too, so this might not be a secure investment in the long term, unless you know that the company will continually grow and it’s worth investing in.

4. Real estate
This might be the highest investment money-wise, but it’s by far one of the most profitable as well. You get a home and sell it for a profit or you can just get it for you to live in and ask more when you sell it. If you want, you can also invest in commercial properties to get the best possible outcome and more money in the end.

5. Commodities
There are a few commodities whose values tend to increase in time. This is the case of gold, silver, platinum and so on. This is a great investment if you are looking for long-term value and great results as time passes.

6. Foreign currencies
Buying foreign currencies is a great idea if you want to invest because their value tends to increase sometimes, but on the other hand, the value might also fluctuate, and you might lose money if the value drops too much. Choosing hedge investments might be a very good idea in this regard!

7. Derivatives
If you want a good option for performing investments, then derivatives might come in handy. They enable you to protect yourself against the price changes and, because of that, they are very popular.

These are some of the best types of investments that you can pour your money into. Remember that each one of them comes with its own set of risks, so it’s crucial to document properly, as this is the only way to make the most out of your money!

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7 Ways to Save On Groceries

Mother and daughter shopping for fresh produceFood shopping might seem like a tedious activity, but it’s something that we do quite often and because of that we have to try and save money by buying smarter, not with large quantities. This is why we have gathered some great ideas that you can use in order to shop smarter, especially if you are currently on a budget.

1. Plan ahead
Instead of just shopping randomly, come with a previously written list, as this will allow you to save lots of money. You do have to stay focused on what’s in your list and that’s it, losing any temptation that might appear during this process.

2. Choose healthy food
Unbelievably, healthier food is also cheaper, so instead of trying to get canned food or something filled with fats, focus on vegetables, fruits and other items that have a high nutritional value. Not only you will lose weight in the process, but save money at the same time, so this is certainly the best combination you can make.

3. Get produce during its season
Produce food is great to begin with, but if you manage to purchase it during the season it’s harvested then you can get a great deal. You can also try to shift your diet in order to get produce that appears each season, as that can be very helpful for your health and at the same time you will also be able to feel better as well.

4. Use coupons and spot sales
These are the best friends for those persons that have a tight shopping budget. The main idea here is that you have to spot the sales and then configure your meal based on them. The same goes with coupons, too. Make sure that you spot all the sales in the grocery store, as this will help you get the best results!

5. Opt for frozen or dried food
Frozen or dried food tends to be cheaper than the fresh one, and because of that, you can purchase more at a smaller price. If you want to save while shopping, this is definitely the best way to do it.

6. Go vegetarian once a week and save on protein foods
Veggies are filled with protein and at the same time, they are less expensive than meat based products. Because of that, it’s recommended to be vegetarian at least once a week, as it cleanses your body of toxins and at the same time you can save quite a lot of money while doing so.

7. Get store brands instead of the national ones
National brands are more expensive, so why not get the local brands? These are cheaper and thus allow you to get a wonderful meal even if you are shopping on a budget.

If you were looking for a way to save money on grocery shopping, then take all these ideas into account! Not only you will be able to have a tighter budget for your meals, but you will also be able to eat healthier, something you will surely appreciate as time passes!

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3 Ways To Save Money on Shopping

Supermarket. paper check receipt bill in hand.Whether we’re making large purchases or just buying those little things that we need to keep our homes running smoothly, it’s easy to feel like our money is constantly flying out of our hands. We all want to save money on everything from big ticket items to small expenses, but those of us who are new to frugal living can easily feel overwhelmed. Here are three simple ways to save money on shopping that anyone can incorporate into their life.

Use Coupons
Thanks to recent depictions of “crazy coupon people” in the media, a lot of us may be wary of using coupons to save money. However, just because you’re using coupons doesn’t mean that you have to be one of the “crazies.” Coupons are a great way to save on items like laundry detergent, toilet paper and other household necessities. Saving a dollar here and there on these items can really add up and make a positive difference in your household budget.

Look Into Bargain Stores
Big box and bargain stores are a fantastic untapped resource for those who are trying to save more money on their shopping. If you’re used to buying everything you need at drug or department stores, you’re probably paying up to double what you could be paying if you looked into discount shopping. A lot of discount and budget stores offer the exact same products at much lower prices.

Use Tax Refund Sales For Big Ticket Items
Many people think that the best sales occur during Black Friday. However, the best sales are actually during tax refund season, when stores are trying to entice shoppers to spend their refunds with them. With the right accounting services in Miami, you can expect to receive substantial refunds. This money can be used to buy those big-ticket items at a great discount. Take advantage of the work of your Miami tax preparer by investing the money into these items you need at a great price.

Saving money on shopping can be a challenge. With these tips, however, you’ll find that you can drastically reduce your monthly budget.

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9 Ways to Invest and Grow Your Money

iStock_000007979864Small1. Diversify your portfolio. Investors who spread their money across an array of investments do better than those who focus it on one type (think stocks, bonds, or real estate). The best way to do this is to invest in a mutual fund or an exchange-traded fund (ETF). ETFs trade throughout the day like individual company stock but are pooled investment funds that invest across a range of companies and assets.

2. Buy low and sell high! This concept is easier said than done. People are very emotional when it comes to their money and don’t always use the best judgement. The best way to guard yourself from becoming your own worst enemy is to put together an investing plan that follows strict guidelines. Also don’t invest in stocks that are too volatile or you will panic when things seem to go south. Avoid “hot” stocks, as every trend creates its own countervailing force. Be prepared, and learn to recognize the rhythm of events – trying to time the market generally doesn’t work.

3. Remember that investment capital cannot be preserved if not handled properly. You need to be serious and take an active interest in your investments. Don’t just leave it to a portfolio manager. Have regular scheduled check-ins as well as spontaneous ones. Scheduled meetings are great, but the best way to be sure that your portfolio manager is doing what he promises is to pop in unannounced. Remember pop quizzes in school? Same concept here.

4. It’s good to take calculated risks but the key word is “calculated.” You need to do your due diligence, or if you have a portfolio manager, make sure he or she has done theirs. Be sure to set reasonable objectives using history as a guide, and remember that it’s better to be safe than sorry. If something seems too risky, avoid it.

5. When you need to spend, do so from interest (not principal) and if at all possible, take out less than comes in. That’s how a portfolio grows in value and lasts forever; do it the other way and you can lose everything rather quickly.

6. Do not relay on relative performance. Instead, measure results on a total return and your own objectives, not someone else’s. Others may have had great success with stock A or bond B but no two investment situations are the same. Also, someone else’s advice may not be appropriate for your goals and objectives. Don’t get caught up in numbers and figures because they don’t tell the whole picture.

7. Do not be afraid to make decisions and stick to your plan. You need to have confidence because it’s better to be sort of right than completely wrong. Always remember the value of common sense.

8. Plan for emergency cash needs so you won’t have to sell investments when a huge emergency comes up such as a death or loss of a job. Many financial analysts recommend keeping at least three to six months’ worth of expenses in a liquid, easily accessible account, such as a savings account or a money market fund.

9. Remember that no system works all of the time. History is a guide, not a template.

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5 Family Expenses You Should Be Saving Money On

iStock_000008092663SmallFamily expenses, including the costs of utilities, stack up quickly. There are several strategies that can help put money back into your pocket, and all of them focus on reducing your family expenses. Additionally, a Miami tax preparer can help you maximize your deductions every April so you receive a larger refund.

Here are 5 family expenses you should be saving money on:

1. Utilities
Electricity, gas, and water bills can be atrociously expensive, especially during the winter and summer when rates peak. Curb your costs by using basic energy and water saving techniques: only leave lights on when necessary, keep your thermostat at a minimum temperature, and reduce your water consumption. Try installing CFLs (compact fluorescent light bulbs) and using a programmable thermostat.

2. Child Care
Child care is perhaps one of the most expensive services you’ll pay for as a parent. Save money by using on-site child care, if available at your workplace. If you are enrolling your child/children in daycare, be sure to apply the Child Care Tax Credit. You’ll be able to itemize up to $3,000 in child care expenses per year, or a cap of $6,000. If your employer offers a FSA, or Flexible Spending Account, this will allow you to set aside $5,000 before taxes for child care.

3. Cable, Internet, and Phone
Drop your cable and switch to Netflix to save big bucks, and talk to your phone provider about lowering your charges. Internet charges can be hard to work around, but if you’re streaming Netflix via the web, it will offset dropping cable.

4. Automobile
If car expenses are overwhelming, consider switching to public transportation – you can sell your car and pocket the profits. Or, try carpooling with a friend, spouse, or co-worker.

5. Entertainment
As a family, you will inevitably incur entertainment expenses. These costs can quickly get out of control. The first rule of thumb is to look for cheap family activities, and if you can reduce your travel, you get bonus points. Cancel any unnecessary subscriptions or memberships to quickly save money.

Family expenses can rack up quickly, but taking the time to ensure that all your costs are within your budget will save headaches. Seeking out accounting services in Miami can help you get a better handle on your finances. When you sit down to look at your spending, refer back to this list as a checklist for balancing your budget.

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Easy Ways to Increase Your Monthly Income

iStock_000013718070XSmallThere are several interesting ways that you can increase your monthly income. When most people think of a monthly income increase, they immediately think of promotions or doing the same thing they have been doing. This may help you increase your income over time, but there are plenty of easy ways to earn more money outside of work. Explore some of these easy options and find one that suits your lifestyle.

Go Over Your Current Income
Before you begin, you should take a close look at where your money is going. Accounting services in Miami can help you go over your current expenses. This helps you find ways to reduce your spending and save money.
Working with a Miami tax preparer is also a great idea if you plan on increasing your income with self-employment. Taxes become more complex when additional streams of revenue need to be considered. A professional will be able to help you plan ahead for self-employment taxes and offer suggestions that can help you reduce out of pocket tax expenses.

Start Small
Your new stream of revenue should be considered a growing business. You will want to avoid the temptation of investing too much time or finances into the project. Instead, dedicate a little time and use your profits to grow your new asset. For example, if you choose to increase your monthly income by selling items online, you would not want to open a store right away. Instead, you should start at the beginning, selling one item at a time using online platforms like eBay or Amazon. This helps you scale your income as you go.

Find What Works
Don’t feel limited to selling items online. There are plenty of other ways to make money that don’t involve shipping. Here are a few examples:
• Offer consultations to others in your field
• Write ebooks on professional topics
• Start a referral program
• Host monthly trade shows
• Perform microtasks online
• Fill out surveys
• Test new products or services

There are many different ways to increase your monthly income. You simply need to learn through trial and error what works and what doesn’t. You will quickly discover that possibilities are around every corner.

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5 Ways to Save When Eating Out

Chicken TacosMany people dine out at least once or twice a week. Some do so even more, for example, buying lunches at local eateries on their lunch break from work. Frequent diners should take advantage of some ways to cut costs. Many money-saving tips are often available through accounting experts, like a Miami tax preparer, who can advise on restaurant-related tax deductions. Here are five budget-minded tips.

Use coupons.
Restaurant coupons are available in many places nowadays, from newspapers and magazines to online coupon websites. Entertainment coupon books also offer them. Coupons may offer a free beverage or a free meal with the purchase of a second one. There are many half-price deals as well.

Check the restaurant’s website.
Sometimes the restaurant’s website will offer special deals, or provide discounts for trying a new entrée or completing a survey. The website often announces seasonal deals and special events, like an extended happy hour or holiday sale.

Share a meal.
Many restaurant meals are too large for one sitting. They can be divided, with half taken home for later. Take a friend to dinner and split the cost of a single meal. If that isn’t quite enough food, consider ordering an appetizer with the meal, which will probably still be cheaper than paying for two meals.

Avoid extras.
Beverages can be very costly at some eateries. Drink water and make tea or coffee at home. The same is true for desserts. Skip the restaurant version and enjoy pie or cake at home later.

Make it a business event.
Eating out with a business associate to discuss office issues may be eligible as a business tax deduction. Check with local accounting services in Miami to clarify the definition of a business meal.

Eating out doesn’t have to drain your budget. Eat smart and save money, as well.

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3 Easy Ways to Save $100/Month

Many people who meet with a Miami tax preparer for assistance with their taxes have the pleasure of learning that they will be receiving a tax refund from the IRS. Others, however, may learn that they underpaid on their taxes and owe money to the IRS. You may need to adjust your withholdings to ensure that you do not owe money next year, or you may need to make monthly payments to the IRS to pay this year’s bill. If you have learned from accounting services in Miami that you need make some adjustments to your budget, rest easy knowing that there are some simple ways that you can save $100 per month or more.

Avoid Restaurant Meals
If you eat at restaurants a few times per week or more, you may easily be able to find the extra $100 per month in your budget by eating at home. You can pack a brown bag lunch to take to work, and you can prepare a meal at home instead of dining out for dinner. Keep in mind that a single meal at a casual dining restaurant for four people may be enough to feed that same family of four at home for several days.

Get Rid of Your Home Phone Service
Many people have already eliminated their home phone service plan, but if you are still paying for this service, you may consider canceling it. In most homes, a cell phone will suffice for all personal calling needs. While basic phone service is not $100 per month, you may also be paying for caller ID, call waiting, voice mail service or even a second phone line at home. The fees for these services add up, and they may not be necessary.

Stop Paying for Cable Television
You also may consider turning off your cable plan. Many people no longer pay the high cost of cable television, and they watch their favorite shows via an Internet connection. There are several wireless devices that you can invest in for a one-time fee, and they can provide you with the ability to easily watch your shows on your television without paying the cable company a dime.

These are just some of the different ways that you can reduce your expenses to save $100 or more per month. Think about implementing these ideas today.

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Three Ways to Keep Your Financial New Years Resolutions

tax accountants in miamiWhen it comes to keeping those New Years resolutions, a lot of people get stuck and give it up within the first week or two of making them. If you’ve made a resolution to get better hold of your finances, it is imperative that you take these three tips into consideration for a more financially-responsible year.

Create the Budget

Getting hold of your finances can be difficult when you do not have an established budget to fall back on. For example, you may go out to eat regularly and you spend a lot when shopping because you just don’t know what your budget is. The best thing to do is to create a weekly or monthly budget in order to gain control of your finances.

See an Accountant

Utilizing accounting services in Miami will allow you to get help from a professional in order to understand your finances better. An accountant is a professional who helps to establish your budget, see ways that you’re overspending and come up with strategies in order to gain more control over money problems.

Look for Ways to Save Money

Whether it be changing your Miami tax preparer or figuring out a cheaper cable alternative to your home, you can easily save money by making very small adjustments to your everyday life. You may be spending more than you should just because things have become routine. For example, you might spend more on groceries because you don’t realize that there is a cheaper place to buy them in your area. Saving money takes time and research, but it can and should be done.

Keeping those New Years resolutions concerning your finances is a wonderful way to avoid debt or lessen the amount of debt that you currently face. Whether you’re working with an accountant, seeking help from a tax preparation specialist or just establishing a budget, you will find that your finances are more in check when you put more effort into them.

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5 Quick Saving Tips to Start Off the New Year

If your goal is to cut costs, here are a few suggestions that can help. Set aside unspent funds in a savings plan or for a designated purpose, like a summer vacation for an incentive to keep saving.

Use your skills

Take an inventory of the skills you and family members could use to save money. If someone at hair trimming, that person could trim the dog’s fur instead of paying pricy grooming fees. If you can cut the lawn, don’t pay a landscaper. Give it a try before paying top dollar.

Reduce entertainment expenses

Rent videos occasionally instead of going to the movies as often. You’ll save a lot in snack costs and ticket prices. At the restaurant consider sharing meals or look for BOGO coupons online. Make a special dessert at home rather than buying one out, and you will save beaucoup bucks. If you go out for drinks, try mixing them at home. You’ll probably drink less and save more.

Shop thrifty at the supermarket

Most supermarkets have a reduced produce shelf with great, usable veggies and fruits available. Certain meats and breads may be marked down if you buy before a certain date. Sometimes there are two-for-one sales, and canned goods are frequently cheaper in bulk.

Spend less on grooming

Often you can get high quality personal grooming supplies like deodorant, shampoo, and conditioner at much lower prices than the designer brand names. Cheaper cosmetics are frequently as good as higher-priced brands if you check the ingredients and online reviews. Buy discount items like brushes, home hair color, and other products are sold at beauty supply shops rather than at retail stores.

Wait a day

Try to space out non-essential purchases by a day. If you can wait for a gas fill-up or grocery shopping an extra day, you can shop less and possibly spend less.

Tips like these can help you set money aside for important future goals!

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Four Ways to Save Money for Your Next Vacation

Screen Shot 2015-02-02 at 12.28.18 PMEveryone needs a vacation once in a while to escape from the stress of everyday life. Unfortunately, the expense of vacations can be a source of stress in itself. You can effortlessly save up for your next getaway by using these methods.

Automate Your Savings

Most banks provide the option of automatic transfers. This enables you to transfer money to a certain account at regularly scheduled intervals. Set up a recurring transfer for as much money as you can afford. You’ll be surprised how much you can save without even thinking about it!

Cut Expenses at Home

There are plenty of accounting services in Miami that can give you a true picture of how much your household spends. Look over all of your expenses and ask yourself if each one is absolutely necessary. For example, your cable TV could be canceled if nobody watches it. You could also downgrade your cell phone’s data plan if you never come close to the limit. The savings from small changes like these can quickly add up to a large amount!

Maximize Your Tax Refund

Most people spend their tax refund on amenities within a month or two of receiving it. Saving it until your next vacation is a much better use. Plus, it’s money that is not part of your regular budget, so you don’t even have to change your spending to build your vacation fund! Get in touch with a Miami tax preparer to find out how you can get the most money back.

Credit Card Rewards

Banks are trying harder than ever to gain new customers and retain current ones, and credit card rewards programs are a common method. They frequently offer free or reduced price airline tickets and hotel rooms – two of the most expensive parts of a vacation. By purchasing groceries and other necessities with your credit card, you can build up points that will make your vacation much cheaper. Just be sure to read the fine print and make sure that you’re not paying out the difference in annual fees and interest.

You might think that a vacation is a luxury that is out of your reach. However, you can make it affordable by using these methods. Put some of them into effect and you’ll soon be relaxing at your chosen destination without worrying about the expense!

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Four Ways to Minimize Wedding Expenses

A wedding should be a happy milestone for every couple. Unfortunately, the mood of the occasion is sometimes overcast by concerns about the considerable price tag. Use these simple methods to keep wedding costs to a minimum while still putting on a great ceremony and reception.

Give Leftovers to Charity

Every wedding will probably have at least some items that are still perfectly usable. Decorations, leftover food, and even the wedding dress can be given to charity groups for a tax write-off. Bring the receipts to one of the accounting services in Miami, and you’ll be able to recoup some of the costs by writing off these donations. Your preferred Miami tax preparer should verify that the donations are deductible.

Simplify the Drink Options

The open bar is one of the most popular features of a wedding, but it’s an expensive one. Even if you limit the options to a dozen or so of the most popular cocktails, it still costs a fortune to stock so many different liquors. Keep the costs of the bar down by providing red and white wine, beer, and one cocktail.

Buy the Decor When It’s Cheap

A few colors of vases, streamers, tablecloths, and other decor items will be dirt cheap during certain times of the year. This is usually after a holiday that is associated with that color. For example, pink decorations will be cheaper after Valentine’s Day, green ones after Saint Patrick’s Day, and so on. Since most weddings are in the planning phase for at least a few months, there should be plenty of time for you to take advantage of such a deal.

Opt for Cheaper Flowers

The flowers usually contribute a few thousand dollars to the cost of a wedding. Luckily, there are a few ways to keep the cost of floral arrangements to a minimum. For starters, choose flowers that are inexpensive to begin with. There can be a huge difference in price between roses and carnations, for instance. Try to avoid the floral industry’s busy season as well. Valentine’s Day and prom or homecoming season are times of the year to avoid.

Planning a wedding is hectic enough. The last thing you need is financial stress on top of everything else! Use these tips to take the burden off your mind and focus on commemorating your special day.

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Four Tips to Save on Holiday Shopping

The holidays are getting closer, and that means that it’s time to start picking out gifts for your friends and family. If your money is tight, the financial aspect of the holidays can put quite a strain on your bank account. Find out how to save some money while you’re picking out gifts this year.

Shop Ahead of Time

Black Friday is not the only time of the year to get great deals on gifts for the holidays. Stores run numerous specials on popular items throughout the entire year. If you see something on sale that would make an excellent gift for someone, why not pick it up early? As an added bonus, you’ll take some of the pressure off of yourself when the holidays start drawing closer.

Make Charitable Donations as Gifts

If someone you know is devoted to a particular charitable cause, consider making a donation to a related charity in their name. You can then give the receipt to your Miami tax preparer and write off the expense as a charitable contribution. Just make sure that the recipient of the donation is legally classified as a charitable organization. Some of the accounting services in Miami will be able to help you determine what type of group you are donating to and how it affects your tax liability.

Look for Price Match Guarantees

Stores often make promises to undercut competitors’ prices if a customer can prove that the other store’s prices on a certain item are lower. You can easily save some cash by finding a better deal and holding them to their promise. Make sure to bring the proper documentation such as a printed advertisement from the competing store to verify the lower price.

Cell Phone Apps

Apps aren’t just for fun and games; they can save you considerable money! There are tons of apps these days that offer you coupon codes and price comparisons for different stores in your area. Most of them are free, so you have nothing to lose by giving them a try.

Don’t let your holiday cheer be snuffed out by financial worries! These ideas allow you to get thoughtful gifts for your loved ones while saving money. Put them to use and have a happy and worry-free holiday season.

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Three Methods of Saving for Your Child’s College Education

Screen Shot 2015-02-04 at 1.36.58 PMA college education is an investment that will pay for itself many times over. The earlier you start saving, the better, especially if you can generate some capital gains in the mean time. Use these four saving methods to help your child pay for tuition when the time comes.

529 Plan

A 529 plan is similar to a 401(k) or an IRA. Participants make contributions that are then invested in mutual funds, bonds, or other investment vehicles. This plan is also tax-deferred, meaning that you don’t have to report any capital gains or interest to your Miami tax preparer until the money is withdrawn. It may be a good idea to keep the plan in your name because the plan being in your child’s name could affect financial aid eligibility.

Prepaid Plan

A prepaid tuition plan allows you to pay ahead of time at today’s tuition rates. This could result in considerable savings if the rates increase. The contributions are not taxed until they are withdrawn. There is also a high level of coverage for other college-related expenses such as room and board, meals, and books; it’s not limited to tuition costs. However, not every school participates in prepaid tuition programs, so be sure to discuss the option with the college administrators beforehand.

Personal Investments

Of course, there’s nothing stopping you from saving and investing money on your own! This option gives you the freedom to invest it how you choose whether it’s in mutual funds, index funds, stocks, or bonds. You can also contribute as much as you want. Unfortunately, capital gains from personal investments will trigger some hefty taxes, although you can recoup these costs if you invest wisely and generate a large return. Some of the accounting services in Miami may be able to help you choose investments and minimize your tax liability.

With the costs of higher education on the rise, parents should do everything they can to make it affordable for their child. Opening a 529 plan, paying tuition ahead of time, or investing money independently are just a few popular ways to build up a nest egg for your child’s college education. You’ll spare your child and yourself a great deal of hassle by putting these methods to use as early as possible.

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Four Ways to Save Money on Your Wedding

Screen Shot 2015-02-04 at 1.33.52 PMYour wedding day will be one of the happiest days of your life. However, it can be disheartening to spend an exorbitant sum that could have gone towards your new household. Use these tips to have a beautiful wedding day while keeping expenses to a minimum.

Choose a Less Popular Wedding Date

A wedding in spring or summer is nice, but consider how much you’ll save by choosing a season that is not in such high demand. A winter or fall wedding can be just as pleasant, and you’re likely to get a great price on the venue. This also holds true for individual days of the week; Saturdays are the most popular wedding days, so you can cut costs by having the wedding on Sunday or even during the week.

Consider Alternative Venues

Wedding venues are typically expensive places to rent, and you might find that another location provides an equal or better experience for much less money. Weddings on the beach or in nature preserves are popular with couples who love the great outdoors. If a certain place has special connotations for you and your future spouse, consider using it as a venue; it will save you money and add another layer of personal meaning to the ceremony.

Print Your Own Invitations

The paper, ink, and other embellishments for invitations can add up to an enormous expense. Save money by printing the invitations and envelopes at home. With today’s technology, you can easily produce invitations that look professional. There are numerous templates that you can download, and embossed card stock is also available.

Tax Write-offs

You can recoup some costs of the wedding by donating things after they have been used and having one of the accounting services in Miami write off the value. Many charitable organizations will be glad to accept a once-used wedding dress, and the leftover food from the reception can be given to a homeless shelter. Be sure to get receipts for these donations to show to your Miami tax preparer.

Your wedding will be a joyous occasion, but this doesn’t mean that you can’t cut costs wherever possible. Keep these ideas in mind when you’re planning your special day. They will help you make it affordable without detracting from the wedding experience.

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Five Health Insurance Shopping Tips

Screen Shot 2015-02-04 at 1.33.22 PMThe cost of health insurance for individuals has risen tremendously in recent years. This makes it more difficult than ever to afford necessary medical care. Fortunately, you can lower your premiums by putting some of these ideas into effect.

Look for Higher Deductibles

If you live a generally low-risk lifestyle and do not foresee any expensive medical procedures in the near future, you can save money by choosing a plan with higher deductibles. This means that you will pay more out of your own pocket should you require an expensive procedure, but it usually translates to lower monthly premiums.

Avoid Unnecessary Coverage

Examine an exhaustive list of what an insurance policy covers. Although the Patient Protection and Affordable Care Act sets a minimum standard of coverage that all insurance plans must meet, you may end up paying for a few things that you don’t need. If you find that the plan covers things like infertility treatment or cosmetic surgery, and if you’re unlikely to use such coverage, save yourself some money by not including it.

Stay Healthy

It’s true that some illnesses and injuries are unpredictable and unrelated to any of your personal decisions, but there are plenty of things you can do to become a low-risk insurance customer. Quitting smoking is one of the biggest steps. Insurance companies prefer not to deal with the expensive care required for smoking-related illnesses, so they offer discounts of up to 50 percent for non-smokers. Some providers even offer a discount for keeping your body mass index at a healthy level.

Start a Health Savings Account

There are some prerequisites for health savings account (HSA) eligibility, but those who have them are better prepared to pay medical expenses in the event of an emergency. In addition, HSAs have numerous tax advantages. One of the qualified accounting services in Miami can help you figure out if an HSA is right for you. Your Miami tax preparer can also show you how to save on taxes when you put your income into an HSA.

Pay the Bill All at Once

As is the case with most insurance, you can get a discount on health insurance by paying the entire bill at one time. Your insurance company may give you the option of paying for six months or a year as opposed to a month, and this can get you discounts of around five percent. It seems difficult to part with such a large sum of money, but you’re saving money in the long run.

Health insurance is a financial necessity in modern society. Going without it could result in a medical bankruptcy if you should require medical care. Use these tips to lower your premiums, and you’ll be able to afford the security that health insurance provides.

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Three Ways To Save When Buying A New Car

Most people look forward to purchasing a new car. However, they do not want to spend a fortune for one. Fortunately, you can save money when purchasing a new car. Below are some tips that will help:

Check Your Credit Score

Any Miami tax preparer will tell you about the importance of maintaining a good credit score. Before you head to the dealership, you want to make sure that you check your credit score. You will be able to get a better deal on financing if you have a good credit score. It will also be easier for you to negotiate good deals if you know what loan rates you are eligible for. If you need help improving your finances and credit, then accounting services in Miami can help you.

Think Twice Before Purchasing An Additional Warranty

If you purchase an additional warranty, then your monthly payment will increase. That is why you may not want to purchase an additional warranty. The standard warranty is most likely sufficient for repairs that need to be made. An additional warranty may be a waste of money.

Negotiate The Right Way

Negotiating is one of the keys to getting the best price for your car. However, you do not want to negotiate based on the monthly payment. This is how dealers often taken advantage of people. If you ask the dealer for a lower monthly payment, then length of the loan will be extended. You may also be overcharged for the car.

That is why you should negotiate based on the total cost of the car and not the monthly payment. If you feel like you are not getting the best deal from the dealership, then you should not hesitate to choose another one. Shopping around will help you get the car of your dreams for a better deal.

Despite the fact that the cost of owning a new car is increasing, you can still get one for a great deal. One of the best things that you can do to get a good deal on a new car is to check your credit before you go car shopping. You may also want to think twice before buying an additional warranty. Furthermore, you should negotiate the right way when you are purchasing a car.

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3 Tips to Avoid Sneaky Overspending Triggers

It is a feeling that is all too familiar to many consumers: whether reviewing their bank account on Sunday morning or speaking with their Miami tax preparer during tax season, they find that they have spent more money than they expected. Luckily, there are a few simple overspending triggers people can avoid to feel more comfortable in their budget.

1. Be Wary of “Deals”

Most savvy department stores will emphasize the percentage off certain items when they are advertising, highlighting that a certain item is 50% off for the weekend. However, that original item may have started at $1000 and only be down to $500. Consumers should both always do the math on percentage deals and refocus their spending on essential items. A piece of clothing that is both heavily discounted and within one’s clothing budget may be considered; an expensive item that has to be paid for with a credit card is off limits.

2. Dealing with Windfall Profits

Whether it is an unexpected tax refund or a bonus at work, many people find themselves thrilled to receive a financial windfall and then disappointed when this money seems to disappear overnight due to a spending spree. Before even dipping into unexpected money, individuals should write up a plan for these funds that is split into savings, paying off bills, and a small amount of discretionary spending. This will ensure that an individual gets to buy something they want, but most of the money is put to good use.

3. Neighborly Competition

A surprisingly strong overspending trigger involves trying to “keep up” with neighbors who may have nicer home goods, fancier cars, and more extravagant vacations. However, this rat race mentality can lead to irresponsible spending on nonessential items. A good way to get over this trigger is to team up with a friend who is also trying to reign in their spending and have frugal fun together. This both provides social support for trying to get over excessive spending and means that living on a strict budget doesn’t mean that social activities have to completely dry up.

Overspending triggers result from deep psychological impulses, making them particularly hard to overcome. However, the first step to reigning in spending is to identify these risky situations and follow through. It can make tax time meetings with accounting services in Miami far less intimidating.

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4 Money-Saving Tips for New Grads

Congratulations! You have completed your last year of school. Graduating from college is a wonderful achievement for anyone, but it can also be an uneasy time for some Miami individuals who do not yet have the job of their dreams. If you’re floundering a bit financially in your new found freedom, take the advice below to get on the right track towards saving money and building your wealth.

Get a job

The urge will be there to hold out for that perfect job you studied for in school. While this is a great ambition, you have to make and save money in the mean time. Plus, if you want that smartphone, that latest pair of designer shoes and if you don’t want to live with your parents, you have to make money somehow. Aim to get a job that benefits your career and puts you on a path for getting the job of your dreams, but don’t be too picky. You can always look for something better.

Create a budget

If there was any perfect time for budgeting, it’s now. To get anywhere, you’re going to need some savings, and to save, you have to learn how to spend less than you earn. Sit down with a pencil and paper and write out all of your monthly bills. Include everything from your car insurance and rent to your weekly grocery allowance and spending money. If you make more than you spend, great. You need to save the rest. If you spend more than you make, something is wrong. You’ll need to either get another job, work more or spending less.

Talk with financial professionals

Remember, there are some financial situations that you simply won’t be able to take care of on your own. See a Miami tax preparer to do your taxes, and don’t try to do them yourself. While it may be tempting, getting audited could throw everything you’ve built in terms of finances out the window.

In addition, find someone who specializes in accounting services in Miami to go over any school loans you have. Sometimes, consolidating these loans can save you hundreds of dollars a month. You may even be able to find other ways to lower interest rates and save more money for yourself.

Stay away from debt

Finally, stay away from credit cards or letters in the mail that say they can get you $3000 that very same day. Getting into debt is not a game you want to play. Follow the advice above, and you’ll be sure to see your wealth accumulating in no time.

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Top Four Money Moves for Newlyweds

Though financial planning may not be a romantic subject, good financial planning can be a key part of a long and successful marriage. There are a number of money moves that newlyweds should take to get their marriage off to strong financial start so that they can get starting on obtaining the life and lifestyle that they seek.

Be Honest

Financial problems and the stress that it causes is one of the leading causes of divorce. In order to avoid these problems, it is important for both parties in a marriage to be open and honest about their finances. This is especially important in regards to debt and debt management. By sharing information and making plans to address debts together, a couple can become closer and the marriage stronger.

New Tax Deductions

Getting married can result in a number of tax benefits. For example, many newlyweds will buy a home, accelerate student loan payments or have children. All of these actions can result in significant tax savings for couples who are aware of the tax laws and record expenses. Couples should meet with a Miami tax preparer early in their marriage to discuss possible deductions and how to properly keep tax records to maximize savings.

Life Insurance

Though single people without children may not have much of a need for life insurance, the same people should buy life insurance after getting married if they are dependent on two incomes to survive. For example, if newlyweds buy a home and need both incomes to make the payments, then they both need life insurance coverage to financially protect the other party. Married couples with children also need life insurance to protect the children from financial difficulties in the event that one or both parent dies.

Manage Retirement Plans Together

Though it isn’t necessary, or even advantageous, to merge retirement accounts, married couples should discuss their retirement plans and asset allocations together. This needs to be done to make certain that the couple is taking full advantage of the available retirement account tax benefits and to be certain that the couple’s retirement holdings are well diversified. For example, if both the husband and wife are heavily invested in technology stocks, a downturn in that segment of the market could significantly impact the couple’s savings. Accounting services in Miami can help couples to efficiently plan and manage their retirement savings.

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Four Tips to Get Out of Debt

Across the United States, including the greater Miami and Dade county area, many people struggle with debt related issues. These individuals frequently find themselves looking for tips and strategies to aid them in getting out of debt — and staying in the black into the future.

Create and Stick with a Budget
The foundation upon which a debt free life can be built is creating and sticking with a reasonable and responsible budget. Most people who find themselves in debt take what really can best be described as a fly by night approach to spending. By detailing what funds are available each month and how this money will be spent provides a true roadmap to financial stability.

As part of the budgeting process, include a line item for the amount of money that will be set aside for savings. Even if the amount is small, placing at least some money into savings each month is an important part in moving from living in the red into the black.

Cut Up Credit Cards
Yes, we do live in a plastic world. A considerable number of retail and other transactions are undertaken using plastic cards. However, a primary step in getting out of debt is eliminating credit cards all together. A person can still participate in the plastic world by replacing credit cards with one prudently utilized debit card. (Ultimately, when a person has his of her debt under control, a credit card can be introduced into the mix for emergency use.)

Seek Professional Assistance
A person in Miami dealing with the task of climbing out of debt should consider seeking guidance and assistance for a professional. Accounting services in Miami or even a Miami tax preparer provide effective assistance to men and women from all walks of life who are serious about effectively addressing debt related issues in an effective and long term manner.

Eliminate Unnecessary Expenses
Most people who are in debt actually spent what ends up being a considerable amount of money on unnecessary “things.” For example, many people pay a good deal of money for premium cable or satellite television packages when something more basic will more than suffice. Another significant and usually unnecessary line item involves excessive dining out. For example, an individual can save a considerable amount of money on a monthly basis cutting out expensive coffee shop offerings and restaurant lunches. $5 for a coffee concoction or $10 for a lunch may seem reasonable on level, but if these items are purchased even only 15 days a month, a person ends up expending $225 monthly.

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Four Tips to Help Reduce Your Financial Impulses

Over spending is a hard habit to break, especially when you don’t have expandable income. In these uncertain times, many experts discourage impulsive purchases and suggest people should start padding their rainy day fund. Below are four tips to help you reduce your financial impulses

1. Stop carrying multiple credit and debit cards in your wallet or purse. All too often we make purchases we don’t need simply because we have the means to pay for it. Instead of carrying all of your credit cards, leave some at home. Also, this might prove a good opportunity to reduce the number of credit cards you carry all together. Yes, having multiple credit cards provides security for when you need funds, but spending money on purchases just to spend money on interest is frustrating.

2. Conduct research to ensure you are not overspending on purchase both big and small. Sure, some people price hunt on larger purchases, but conducting research on smaller everyday purchase can save you big time. Coupon clipping, as we all know, can save a person hundreds. Not saying you need to start clipping coupons, but every little bit helps.

3. Allow for a ‘cooling’ period once you decide you are going to make a major purchase. Have you ever been walking through a store and fell in love with an item you had to have right then and their? Most of us have. Simply deciding to wait 24 hours to make that purchase may keep you from making a mistake. Trust us, that $500 beanbag bed will be their tomorrow if you still want it.

4. Funnel funds to a savings account you have no access too; sounds scary doesn’t it? This simply means setting an allotment from your checking account directly to a savings account which you do not have a debit card for. If you need or want to access this money you will have to actually go to the bank. And, let’s be honest, finding time to visit a bank during operating hours is not a top priority for too many people. The amount you save does not have to a tremendous amount; perhaps just 3% of your monthly income can make all the difference during the proverbial “rainy day.”

If you need further tips and suggestions in ways to save money, contact an accounting service firm in the Miami area. An accountant can help you set up any number of ways to help you save money for anything from retirement to that bean bag bed you’ve been wanting.

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