Take A Day Off and Make Money!
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"Your big
opportunity may be right where you are now."
- Napoleon Hill
As I write this, Congress is still dawdling around with the politics of
extending the current tax rates. They call it a "tax cut"...but
really, it's the avoidance of a tax *increase*. By the time you receive this
(we send these notes out at various times throughout the week), it may have
already been "resolved" ... and I'll give you fuller commentary once
they've done SOMETHING.
Sheesh.
Oh, thanks to all of you that have already "Liked" our page on
Facebook. If you haven't already, take a moment and go out to http://www.facebook.com/CompereandRobinetteCPAs
and like us. You'll get timely instant updates on the ever changing tax
law as it happens, plus we are a great firm to like....so you can't lose!
http://www.facebook.com/CompereandRobinetteCPAs
Moving on from taxes, this holiday season is probably busy for you (it is
for us!) ... and I've become increasingly aware that though I send you strategies,
tips and whatnot every week -- it can be a pain to pull them off in the
evenings, when the demands of family and the necessity for down-time pulls at
you.
So, I have a bit of a novel proposal for you, in this week's Strategy
Note. I believe it could help you in multiple ways--your bottom line, your
taxes ... and even your mental health!
Let me know what you think!
[Oh, and we have a
couple spots left for clients who want to talk over last-minute tax moves to
make in order to keep their 2010 taxes low. Reply back to this email or call:
417-581-4100 to snag one of these final spots!]
Ted Smith's
"Real World" Personal
Strategy
Your Fiscal Sanity Day
It's
true: inactivity is costly.
You see, if you're like most people, I bet that when you get your house
insurance renewal notice, you quickly glance at the price -- and renew
it. You renew it simply because you don't have the time to search around
for better prices.
In my experience, working with family finances for YEARS, I've learned that most
people have a good sense of what needs to be done to improve their finances but
they simply cannot find the time.
So
here's my proposed solution for you: Take a day off work.
In fact, many financial tasks simply cannot be completed in the evening or on
the weekend. By taking a day off work, you can contact people who may
only be available at regular business hours.
On top of the true bottom-line impact a day like this could create,
there is, of course, the "mental health" aspect of it all. HR professionals
often recommend taking a mental health day, from time to time--well, call this
your "Fiscal Health" Day!
Possible tasks to consider accomplishing on your day off:
1. Dump your savings account with a puny interest rate and open a high yield
savings account.
2.
Get quotes for cheaper insurance: health, life, auto, house,
and any other insurance. And you can even do a little calculating to determine
how much you could save by changing your deductible.
3. Complete any important (but not obviously-pressing) financial tasks like
making a will. Best done with a professional, by the way!
4. If you're carrying credit card debt, call the companies and ask them
to reduce your credit card interest rates. Believe it or
not--they'll often say yes! Take time to develop and formulate a good plan to
get out of credit card debt. Find or prepare a debt reduction plan.
5. Apply for a cash back debit card. Here's a good one: http://www.perkstreet.com/default.aspx?PerkStreetCode=3721477
6. Get more organized with your finances by shopping around for and using a
good personal finance software program.
7. Review your budget, get caught up on your budget, or learn how to budget.
8. Shop around for the best online broker. Be sure you're getting the
best price for your stock trades.
9. Make energy efficient changes to your home and lifestyle.
10. Find a good second hand store to shop at instead of the local department
store.
11. Set up automatic payments for your bills to be sure you avoid late
payments.
12. Google It. Use the phrase "how to save money", and then
fill in the blank "on groceries", "on gasoline", "on
kitchen expenses", "on babies" ...
13. Sell stuff on Ebay. Look for junk lying around the house and list it on
Ebay.
Undoubtedly, there are more things which can go on this list, if you're
industrious about it. But simply put, I'm hoping to give you
"permission" to see your financial health in a similar light as
you see your mental health.
And remember-- I'm in your corner!
Warmly,
Ted Smith
Ted Smith, CPA
for Compare and
Robinette CPAs
417-581-4100
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