Make the best out of your tax return

How to Make the Best Out of Your Tax Return

Make the best out of your tax return
Make the best out of your tax return!

No one likes paying taxes, and there’s no reason to pay more than you should in any given year. One of the best ways to make sure your tax returns ripped the most profit is by investing it. To make your money grow.

  1. Invest in CD’s
    CD’s are forms of investment that take time to mature and grow. If you’re looking to save money for your kid’s college fund this is a good way to do it. This will be put aside to grow and mature until you have made some profit.
  2. Increase your 401k referral
    Of course you can’t put your refund into your 401(k) but you can supplement your income with it while you increase your referral. This is especially important if your employer matches your refund amount.
  3. Put it as a down payment for a property
    Owning your own place is always better than paying someone else’s mortgage. Save as much as you can and purchase your own home. If you ever move chances are you will have some equity.
  4. Lower your debt
    You don’t have to spend your entire tax return paying your overdue debt. However, paying some debt should give you some financial stability. Lower your debt as much as you can and start from zero.

Remember, be wise and make money out of your tax return. If you are currently a BrightStar Credit Union Member, enjoy a discount when you file with Turbo Tax.


3 Simple Ways to Earn a Little Extra

 

Sometimes your full-time jobs are not enough to pay the bills, save, and have fun. Sometimes a paycheck is only enough to make ends meet.  Sure, you can always get another part-time job or look for higher paying job. However, when you have conflicting schedules and a family having an extra job isn’t so easy.

What are some ways to earn a little extra cash and keep enjoying your free time?

  1. Pet Sitting There are many websites where you can sign up to be a pet sitter. Yes, a pet sitter. Not only do you get to enjoy the company of cute fluffy creatures, you also get to spend some time in the sun. If you do this, plan accordingly. For example, if sign up to pet sit on a Sunday you’ll have company to watch the game and exercise early in the morning. TIP: Pet sitting is in high demand in South Florida. Take some time to look into it.
  1. Clean your home, and sell your unwanted items online: If you have unused –or gently used items– try selling them. Liberating yourself from all that clutter, will feel very rewarding. Remember, one man’s trash is another’s treasure.
  1. Participate in surveys or focus groups: Some marketers and research firms offer cash for participating in focus groups. This is not a lot of money, but $10 to answer 10 questions online buys you lunch.

If you ever find yourself in need of a little bit of cash, consider these methods.

Enjoy!


Reduce Home Ownership Cost!

How Can You Reduce Your Home Ownership Cost?

Reduce Home Ownership Cost!
Reduce Home Ownership Cost!

Owning a home is rewarding but it can also be costly at times. You have to be able to keep up with air conditioner repairs, appliances breaking down, and pipes that can sometimes burst. The Bureau of Labor Statistic reported that an average homeowner paid $4,808 in mortgage principal and interest in 2013.

The good news is that home ownership costs aren’t fixed and we have a few tips that might help you.

  1. Buy a Smart Thermostat

    In Florida AC is not a luxury, is a necessity. Sometimes it gets so warm outside it is easy to feel discomfort when all you think of is cooling off. In order to help you reduce your AC cost, try a smart thermostat. It can adjust to your household routines, temperature preferences, external weather conditions, and can even track your location.

    Why is this useful? 
    With a thermostat this sophisticated you can divide your days into blocks and set desire temperatures for each. For example, you can adjust your settings to a higher temperature while you’re at work and lower them when you return from work automatically. A smart thermostat can trim cooling cost by 15%.

 

  1. Switch to low flow fixtures

    Although water is not as expensive as electricity, saving water can save you money. Low-flow faucets reduce tap water usage by up to 30%. Low-flow toilets can save a family of four around $110 a year depending on home size.

 

  1. Insulate Hot Water Pipes

    According to the Department of Energy, insulating your hot water pipes can reduce your electricity or gas bill by $12 annually. Insulating your hot water pipes is inexpensive—especially if you have duct tape at home.

 

  1. Unplug Idle Electronics

    Every time you leave your TV, cable boxes, computers and other small electronics plugged you drain power and drive up your electricity bill. There are devices that can help you power off devices without having to unplug them. Such as the Bits Energy Smart Strip, this can cost up to $40 and help you reduce your light bill on a monthly basis.

These tips will not save you thousands of dollars in home ownership cost. However, it can save you a few hundreds and every little bit helps.


Do not get stuck in high student debt!

3 Ways to Avoid High Student Loan Debt

Recently, economist at the Federal Reserve Bank of New York released new research based on Equifax credit report data on repayment rates of student loans. One of the most interesting pieces of information found in this report is that two-thirds of the nation’s student-loan debt is held by people over the age of 30.

In the event you have children who want to pursue a higher education degree, or you are looking to work on an extra certificate to better your career, this fact is a little nerve-racking. For this reason, we wanted to give you a few alternatives to avoid high rate student loans.

  1. Online Schools
    You might be wondering why we are suggesting online education as an option to save money on a student loan. The answer is simple. Online degrees allow you to have more flexibility with your schedule. Thus, giving you some extra time to have a full-time job, while going to school. You can set money aside and every six months have the money to pay one or two online courses. You can also pay your courses with a low rate Credit Card and pay it monthly little-by-little. Having a job will allow you to do this comfortably. The flexibility of an online course can also help you study during the weekend.
  2. Community College
    Yes, community colleges are still good places to go to school. They are much cheaper than attending a big university. These, often offer some certificates that can help you advance your knowledge and skills on the workplace.

 

  1. Apply for Scholarships
    You might be surprise at the amount of scholarships offered out there. Make sure you do your research and apply to anything and everything you can. Sometimes, your job has incentives that can give you some money for school. Sometimes your community has something to offer to go to school locally. Make sure you prepare yourself and save as much as you can.

 

Your education is important. Make sure you are making smart choices and don’t get stuck in high student loan debt.

Hope this helps!