Ways to Boost your Refund for 2011 and 2012
As we organize our paperwork and forms in preparation for tax season here are a few ideas to help maximize your return for this year as well as next.
Maximize your return for 2011
1. Contribute to an IRA or 529
Contribute to an IRA – you still have until the due date for filing your return 4-17-12. You can deduct up to $5,000 if you are under 50 or $6,000 if you are 50 or older. The amount is deductible for incomes up to $66K for single filers and up to $109K for those married filing jointly.
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How to Raise a Financially Responsible Child
Most parents do not talk to their children about money or share aspects of the budget with their kids. Many children are ignorant regarding basic money concepts and believe that their parents will subsidize their lifestyles well into their late 20s if not longer. Setting expectations as they mature is very important.
There is no reason your adult children should be continuing to live on the “Bank of Mom and Dad”. Here are some age based guidelines to help your child become more financially dependent.
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Reconciling Money Differences-Tips to Achieve Financial Harmony with Your Loved One
Did you know that 71% of Americans admit that they keep secrets and lie to their spouse or partner about money? Many couples struggle with money differences due to their backgrounds, beliefs and habits surrounding money. Here are some tips for being on the same page as your spouse or partner.
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Quick, Easy and Inexpensive- My Favorite Asian Chicken Salad
Laura’s Asian Chicken Salad
This is a healthy and relatively inexpensive recipe even a busy mom or working woman can prepare quickly and easily. I revised it slightly from a Giada de Laurentis recipe. It is one of my favorites on a hot Columbian summer day.
Salad Ingredients:
2 cups shredded carrots
3 cups shredded napa cabbage
3 cups shredded romaine lettuce
1 large red bell pepper seeded, deveined and thinly sliced
4 scallions thinly sliced
3 TBS chopped basil
3 cups thinly sliced rotisserie chicken (I bought mine for $5 at Sam’s Club)
¾ cup toasted slivered almonds and three TBS toasted white sesame seeds. (Bake at 350 for 8 minutes, then cool.)
Dressing: ¼ cup vegetable oil, 2TBS soy sauce, 2 TBS rice vinegar, 1 TBS natural peanut butter smooth, ½ teaspoon sugar, ground black pepper to taste, dash of Tabasco. Wisk together.
Mix all salad ingredients; toss with dressing. Top with crunchy Chinese chow mein noodles. Serves 4-6.
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Five Budget Boosters to Help You Save Money
Here are some quick ways to save money and cut the fat from your budget.
- Stop Eating Out. Instead use Coupons, on-line shopping tools and buy in bulk. Make a few meals ahead of time for convenience.
- Reduce your investment costs. Invest in low cost index funds to reap major rewards over time. Did you know that if you reduce your expenses by .5% you could save over $6,000 in 10 years on a $100,000 investment portfolio?
- Consider Cell Phone Only, negotiate cable and phone bills- I was able to get the local cable rep to cut my bill by $60 a month for the next year after I complained about a recent price increase.
- Slash Entertainment, Kids Activities, Set expectations with kids- Some families are overwhelmed by the toll this can take on their yearly budget. Try to limit the activities to one per kid. The money you save could be put into a college account to pay for their education.
- Refinance Your Mortgage–rates are at historic lows; if you have decent credit you could lower your monthly payment and increase your cash flow.
For more on how to save serious money on your groceries join me September 13th at the Irmo Chamber of Commerce for a free seminar 8:00AM to 9:15AM. Space is limited to 10 people. Contact Laura at 803-331-3721 to reserve a space.
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Great Quick Healthy Protein Bars
I just had to share this recipe one of my Women Building Wealth members sent me for a quick homemade alternative to protein bars. Maybe I will make some for next month’s meeting. Yum!
Debbie’s Homemade Protein Bars
1 cup natural-style peanut butter (I used both smooth and crunchy)
1 cup (or less) agave nectar
*play with this because you don’t want it toooo sweet. The original recipe called for 1 cup honey but that was too sweet for me. Make sure agave is USDA certified.
3 cups dry uncooked old-fashioned oatmeal
Combine peanut butter and agave in a large nonstick pot and warm up over a low heat until mixed and peanut butter looks soft. This takes a minute or so. Then add whatever you like and blend.
I added 2 tablespoons protein powder, a bag of mixed dried fruit (blueberries, cranberries, etc.), sunflower seeds. just play with it. you can’t go wrong.
Spoon the mixture into mini muffin tins and press it down. Then put in refrigerator for a few hours. You can use a dull knife to pop out, then transfer to several containers with lids. I keep them in the refrigerator as they hold together well this way. I have two of these muffin tins. Each holds 24 muffins, and got about 40 “bars” from this mixture.
I think these are cheaper and healthier than the store bought bars and without a lot of fillers or preservatives.
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