OK, so you’ve come to terms with the debt you have, and you have some extra money in your cash flow to allocate toward extra debt payments. Now the question becomes: What debt-reduction strategy is actually best? Well, there are a few debt-reduction strategies you can follow, but here are two of the most popular:
Being financially wise means living with balance. It’s okay to have occasional splurges, as long as you bring yourself back to the equilibrium. One’s spending habits are a reflection of what you value in life; Money is simply a physical representation of this value. Being financially wise also means investing in one’s self. If you invest in health & wellness, you are creating a balance from the inside out.
I think it’s important to be mindful of what you’re buying when you’re shopping and not just so you’re spending less, but so that you’re buying pieces that really maximize your wardrobe and make you feel fabulous. I love that I ultimately actually help them SAVE money because they tell me that they only buy things they LOVE and wear. It becomes about quality not quantity and I know SO many friends and colleagues who spend so much money on clothes they wear a few times and that just doesn’t make sense to me. For one, to amortize the cost per wear, it’s actually more expensive than a great, higher cost piece. And for two, I literally love my clothes, so I get bummed out when they wear out … I want them to last for years!
Still scrambling to get your tax appointment in for the year? Well, the good news is that this year you have a few extra days to file. Taxpayers will have until Tuesday, April 17, 2012 to file their 2011 Federal income tax returns and California State Income Tax returns* and pay any tax due.
Regardless of the economic situation we all need to file our tax returns and report our earnings to the Governmental agencies annually. The rules are the same regardless of your gender. It is important to be involved and understand the tax return that is being signed by both spouses because both parties are equally responsible for truthfulness, completeness and accuracy of the tax returns. There are number of tax saving techniques that can be utilized if planned timely and correctly. It is important to have a professional, reliable, trustworthy, and caring CPA who will help you to be on the right track. Of course, together with a great team of Financial Planner, Attorney, Investment Advisor and CPA you can be in much better position.
We do not expect everyone to become experts and understand all the complex financial transactions, but just to be involved and ask questions if something is not clear on the tax returns, financial reports and documents.
START LOVING YOUR MONEY NOW!
Sign up to Receive your FREE Financially Wise Toolkit jam packed with great tools & resources to help you on your financial journey.