Yes, I know that filing your income tax is another task on your to-do list. It takes time to gather your documents and more time to file the return. These are some of the reasons you should file sooner rather than later:
- If you are receiving a refund, you will get your money sooner.
- If you owe taxes, you will know how much money you need to gather to make your payment by April 15. Your payment isn’t due until April 15 regardless of when you file your return.
- The sooner you know your financial picture; you can make changes earlier in the year to your withholding’s (both state and federal) to adjust amounts is what is being withheld.
- To prevent fraudulent tax returns being filed in your name. Yes, identity thieves do this. But they can’t if you have already filed your return.
- By waiting, you may have to file an extension if your tax preparer cannot complete your return by April 15. Remember that if you owe taxes, they are still due by April 15, whether on extension or not,
- Lastly, It’s done and you can check this off your to-do list.
Consider paying your bills annually. Most times paying once a year (or even twice a year) could save you money. For example, Amazon Prime is $14,99 / month versus $149.99 annually – that’s a savings of $30.88. We pay our auto insurance annually to save money. #JillRussoFoster #FinancialLiteracyMonth
According to LifeLock, 84% of people’s information is on the dark web. Is yours? Think about how you will protect yourself and your information. How often do you check your bank accounts? How often do you check your credit card accounts? You can monitor all this yourself by checking regularly. We check our accounts once per week and we have chosen to freeze our credit reports. #JillRussoFoster #FinancialLiteracyMonth
Like Capital One says, What’s in your wallet? Could you tell me everything that is in your wallet right now? If you were to lose your wallet today, how would you know what to cancel and replace. Clean out your wallet and carry only the minimum you require. You should never carry your social security card, your PIN numbers / passwords, blank check(s), passport unless you need to use them that day. Identity theft is on the rise. Protect yourself. #JillRussoFoster #FinancialLiteracyMonth
According to Lending Tree, consumer debt is up 7% over last year and has hit $1.27 trillion. Do you have credit card debt? If you carry a balance, call your credit card company and ask for a lower interest rate. Lending Tree also stated that 76% of people who asked we given a lower rate. #JillRussoFoster #FinancialLiteracyMonth
Curious about your credit score? You can get a close approximation of your score through some bank and credit card websites or through the credit reports bureaus Quizzle, Credit Karma or Credit Sesame. These are all free to see an approximation of your credit score. #JillRussoFoster #FinancialLiteracyMonth
When was the last time you viewed your credit report? Check out your free report at 