Wednesday Wow!:Being mindful about your tax refund.

irsMoms aren’t easy! We aren’t. Recent polling finds mothers are making careful spending a part of their long-term routine as they shun inessential purchases. With the IRS official opening tax filing season yesterday, now is not the time to stop.

If you’re expecting a tax refund this year, you need a good plan for your money. Maybe you already have the funds earmarked for some spending, but before you let your tax refund burn a hole in your purse, remember that as mindful spending moms our money has to work harder and longer. There are many ways to do this. I’m sure that you have a couple of ideas, here’s mine.

  • Not get one at all – The money you loan the government interest-free, could be earning you interest somewhere else.
  • Build your emergency fund – Hint: Imagine you had 6 months of expenses saved up. Now imagine the economy tanking even more.
  • Grow your nest egg for retirement – Taking your retirement in your own hands instead of relying on social insecurity will make you look like a genius!
  • Use it to pay 100% down on a reliable used car…if you need one – Buying a good used car can save you lots of money in terms of depreciation and interest. Even more if you are fortunate enough to have mechanical skills.
  • Give it to someone in need – If your financial situation is solid, why not give it to someone who is struggling? After all, you didn’t miss it all year long.
  • Use it to help fund your kids college – Soon yours kids will be going to college before you know it. Wouldn’t it be nice to bless them with a nice education without the debt that usually comes with it? I’m STILL paying Johnson and Wales University. 😦
  • Use it to pay down your mortgage – If you have no debt, except for your mortgage, imagine how nice it would be to owe NO ONE!! Your income is COMPLETELY yours! What a feeling!
  • Donate a portion of it to Queen City Sahm’s :D– Okay so maybe this isn’t the smartest, per se, but changing lives a dollar at a time is definitely a lot of fun! We support motherhood with progressive events, educational opportunities and supportive resources. I can’t think of any other mom support group that offer more support to moms that want to breast feed, holistically educate their children, learn how to eat to live, budget, job training (creation and sharing) provide emotional support and so much more! For most stay at home moms Queen City Stay At Home Mom’s is their motherhood stabilizer. Use this link!
  • Last but not least  DON’T DO WHAT Krystle Marie Reyes did.

moneyThis year, there are some purchases that we must make. First up is a new mattress for my room- our last one lasted 10 years. A laptop, for my home schooled children, a family gym membership- we need it badly! And yeah, we’ll take a mini vacation. We haven’t had one in two years. The rest of it will go into savings.How will you spend your tax refund? What did I leave off up there? Be sure to click he links above, leave a message below or tweet me on it! mp Click here!

 

Till, next time, QC Supermom

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Wednesday Wow: The Gift That 16.8 Million Families Need Most for the Holidays

The Gift That 16.8 Million Families Need Most for the Holidays

I know that you’ve max ‘d out that credit card didn’t you? Couldn’t help your self huh? Found any good deals? I was just told about a few sick shoppers bum-rushing into a store for some over the top- over priced sneakers? I call them sick minded because normal folks don’t do that.  It’s just sneakers. Of course, none of my readers would do anything like that.  If you’re in that group like me Christmas is far from your mind and change purse. I know you’re resting well and posted up on the couch drinking cider and watching those awesome specials. Now if you’re in that small group that has yet to shop-consider this.

1. Create a Budget & Stick to it.Plan who you are buying for and how much you are willing to spend before you start shopping and stick to it.  Try to come in under budget and reward yourself and the end of the holiday season for all of your hard work.

2.Remember What’s Important – The best part about the holidays is spending time with friends and family.  The memories that you create each holiday season won’t be about what fancy china was used at the dinner table or who got the most expensive gift.
3. Refinance & Skip a Mortgage Payment – If you have a mortgage rate higher than 4.5%, refinancing may make sense for you.  On top of that, if you refinance now you could skip December or January’s mortgage payment (depending on when you close.  -Don’t ask me how, I’m still renting)   A Home Loan Expert can provide more details.  You could use the money that would normally go toward your mortgage payment on gifts rather than racking up your credit cards.

If you don’t digest anything else, just keep his in mind-

4. You gotta live after the 25th right?  So shop better this year. Use these super fun and affordable tips!

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-Visit a group home & take a couple of board games to share.

-Make your own gifts. They are online everywhere & you’ll be so proud of yourself.

-Treat your family to a new culture via the . Study and even dress up for the full monty’. Then tell others what you learned over the holidays.  We use online coupons & everyone (all 7 of us eat for less than $30.00-& yes, we got a stomach full)

-Regift!…If you are not gonna use it; why not?

-Save altogether and buy a house…….hmmmm!!!!! I bet you they would happily give up a Wii now for room of their own to play it in.

 Get above the influences!