Jill Russo Foster

What can you do today as a random act of kindness?

Today is Random Acts of Kindness Day.

A few years back, I read a book by Cami Walker called 29 Gifts. What a life changer that book was for me. What can you do today to brighten someone life?

Need ideas, this is a great book of inspiration and an easy read to get you started.

Love and Money

Valentine’s Day is a day when we exchange gifts, have a special meal and more with the person we love. Usually all is well and life goes on. love and money

In honor of Valentine’s Day, I want to talk to you about love and money. I have known many couples who were in love until they found out about the other person’s money habits.

Your money incompatibility doesn’t have to end the relationship. If this is the one, you can make it work. You just have to ask the right questions.

This is what you need to know about each other:

Financial Issues: Income, assets, expenses, debt and credit. Understand what is going on with each other’s finances. Are there debts and back taxes? Are the savings accounts available to use jointly? Should some of the assets be merged or sold off, and if so which ones?

Money Type: Are you a Spender or a Saver? If you know, you can use your joint goals to meet in the middle on common ground. If you’re habits are extreme, you might want to keep separate bank accounts. That way, one of you won’t feel pinched while the other is in a constant state of sticker shock.

Long Term Goals: What do you want from life? Do you want to be married or single? Do you want to be a homeowner or rent for the rest of your lives? Do you want to have children? These questions need to be answered so you can save towards the same goals.

CFO (Chief Financial Officer): Who is in charge of the money? Is it one of you or both? Will you split the responsibilities by category or do everything jointly? Knowing will keep “that’s mine” arguments to a limit.

With this information, you can decide if you want to keep your finances together or separate. Joining your bank accounts together with someone who has ignored debt or back taxes may mean your money is at risk (even if it’s not your obligation), and in the end, puts you both in the same deep hole with no way out.

Finances can be the doom of relationships. Being informed and making proactive choices is the best way to make the relationship work.

Make 2018 Your Best Year Possible!

Yes, I know it’s a busy time of year to add anything to your do to list. As the year begins, it’s important to make time to complete this check list of items to make 2018 the best year possible.

Investment Accounts
Think about maxing out your 2018 contributions, especially if you have an employer match. You don’t want to miss out on the free matched funds. If you can’t max out, then add as much as you can. Now is the time to look at your investments, it may be time to re-balance and/or make changes to your accounts.

Health Insurance
Understand what your health insurance covers and what it doesn’t. If you have a deductible to meet,if possible schedule your appointments so that you can afford the bills. Remember you may be able to use your FSA (Flexible Spending Accounts) or HSA (Health Savings Account) to plan for some or all of these expenses. Your plan has a list of eligible items you can use the money towards.

Charitable Giving / Donations
If you itemize your taxes, make sure to discuss your charitable giving with your tax preparer as the new tax rules are in effect.

Starting the new year off right will help you throughout the year.

Paying For College – FAFSA

It ‘s that time of year. Your teens are making their college choices for the fall and all the excitement that goes with it. What school should they go to? Will they stay near or go far? What will I need to do next?

First let ‘s start with the paying for college. If you have the money saved for the cost of college for all four years (or more), then you can stop reading. If not, you need to start or continue to figure out the finances. FAFSA – Free Application for Federal Student Aid – is the first step. Apply now, even if you don’t think you qualify – you may be surprised.

Here is a great article by Consumer Reports for financial aid that will tell you what you need to know.

Ask Questions

January has been a month of me asking questions. You may be thinking what is she talking about. Lots of items came to light throughout the month that required more information. Here is a sampling of what came up:

I was listed as a “non-owner” on our auto insurance. I had no idea what that mean and had to do the research to find out more.
I received two bills one from the lab for bloodwork and one from doctor’s office for a physical. It was my understanding that this was covered through my medical insurance as a preventative visit at no cost to me. Again, multiple calls and asking for my medical claims to be adjusted.
Receiving less than expected in a paycheck. More calls to get to get to the bottom line
And the list goes on.

Never be afraid or think your questions aren’t worthy of an answer. In my case, it’s my money. Call and ask questions until you are satisfied with the answers.

For me, I was able to save money on our auto insurance after a lengthy phone call, the medical insurance company paid the bloodwork bill in full after appeal, the doctors bill was adjusted and I owed less than 50% of the bill and I am still working to understand resolve the paycheck issue. So far, I with these questions we have saved close to $300. That’s worth my time and efforts.

My Favorite Holiday!

Can you guess what today’s holiday is? Hint – it’s my favorite.

Today is National Plan for Vacation Day!

There are so many people who don’t vacation. But there are amazing benefits from taking time off. It can be an afternoon off to do something fun all the way through weeks away – you choose.

Join me for the month of March and read my blog posts on how we are planning the details of our upcoming vacation. Yes, there is planning, but it also save lots of money with booking ahead. Join me.

For future travel ideas, we went to the New York Times Travel Show at the Jacob Javits Center. We spoke with many peoples, companies and picked up all these brochures for some new ideas of where to go in the future.

Tax Season Officially Begins

Today is the first day to file your 2017 income tax.

Remember that companies have until January 31 to mail out W-2, 1099 etc. So you may have documents that haven’t arrived yet.

Both VITA (Volunteer Income Tax Assistance) and AARP’s Tax Aid may be able to file you taxes for free. Click on the links to see if you meet the income requirement, what documents to bring with you and where the closest location to you is.

Take Your Child To The Library Day!

This is a great memory from my childhood. I loved going with my mom to the library and taking out a book. In fact, I still use the local library and read many books each year.

In honor of Take Your Child To The Library Day which is February 3, 2018, I am offering you a 20% discount on my book Cash, Credit and Your Finances: The Teen Years from now until February 3. For $20.00 you can purchase a copy of my book directly from me, have it personalized to your recipient and it including priority shipping. This is only available from my website. Click here to purchase.

Voted “Best Teen Book” by Radical Parenting Teen Team

The Perfect Teen Gift

Help your kids:

Cope with product advertising
Understand that credit isn’t magic money.
Develop strong short-term budgeting skills
Create a long-term financial plan

Cash, Credit, and Your Finances: The Teen Years looks at finances through the eyes of five different teenagers. They all have things they want and need, but they all handle their money differently. Some will succeed and some will give up… which one do you want your child to be?

Start your child off with the gift of reading and learning great money skills. Buy Cash, Credit and Your Finances: The Teen Years now!

Tax Dates That You Want To Have In Your Calendar For 2018

We all know that it’s tax time, just check your mailbox and email for those 2017 forms.

Early birds – did you know you can’t file until January 29!

Procrastinators – did you know you may get an extra day or two since April 15 is a Sunday.

Get all the dates in one place from Clark Howard.

2018 Goal

If you have been a reader of Money Choice and know me, you know that 2018 my goal is to simplify my life.

One thing I am tackling is the clutter in my life – both physical and mental. I have been organizing my home, donating and tossing out lots over the years. My way of doing this is to tackle on small area at a time – one drawer, shelf or other small area – and that seems to work for me.

This year as I continue this process, I have added an online year email class – daily emails to work through this clutter process. What’s great is that you don’t have to begin on January 1 (I didn’t). You can start whenever it right for you. You are welcome to join me. I’m in week 2 of the Daily Om’s A Year To Clear What Is Holding You Back!