Want to Save More Money? Show Patience

by Miranda Marquit · 0 comments

One of the best ways to save money on a number of items, especially entertainment, is to show patience. Getting something when it first comes out is a surefire way to guarantee that you will pay a premium. If you can show patience, you can save hundreds — or even thousands — of dollars over your lifetime.

Improve your frugal lifestyle by showing patience in these areas:

TV Shows

Paying for cable/satellite TV is one of the expenses that can most easily be cut from your life. If you are willing to wait a night or two to watch an episode of your favorite show, chances are that you can watch it on the network’s web site. Streaming services like Netflix and Hulu can also provide you with access to your favorite shows. You might have to pay, but paying $7.99 per month for Hulu Plus or Netflix sure beats paying $80 (or more) per month for cable/satellite.

Some shows can’t be watched this way, and that means that you might have to be patient for a little bit longer, and rent the shows when they come out. However, renting is still cheaper than paying the cable/satellite bill. Even buying the best shows when the come out can put you ahead, depending on how many “must see” shows you have.

Movies

Instead of paying to go to the movie theater, you can be patient and wait for it to come out on video. You can rent the disc for $1 a night from Redbox if you are going really frugal. There are plenty of other renal options as well. And, if you decide to buy, it can make sense to be patient until the price drops.

It’s possible to buy Blu-rays of some movies for between $7 and $19.99. No reason to buy a movie for $30 or more when it first comes out. It’s also possible to buy used DVDs and Blu-rays inexpensively.

Video Games

Whenever a video game comes out, you will pay a hefty price to buy it first thing. However, if you can wait a few months, the price will come down — or you can buy it used. If you are willing to wait even longer, for when the next version of the game comes out, you can get the older version quite cheaply. But that might be more patience than the most devoted video game fans have.

Electronics

Any electronic product bought upon release is expensive. From the latest smart phone to the upgraded HDTV to the new video game console, it’s expensive to buy new gadgets. If you wait a little while, you can get them at a discount. Often we buy our computers refurbished. They’re a little older, and used, but they cost less and they work really well. Even if you don’t buy refurbished phones and TVs, you can wait until the next model is released and buy the older version on clearance.

If you are willing to wait to make your purchases, you can save money over your lifetime. It might mean a little waiting, and you might not have the newest item that your neighbor has, but you’ll have something that meets your needs — and that you didn’t have to go into debt for.

What other items do you save money on through patience?

Vaseline: Wonder Product #1

by Jessica Sommerfield · 2 comments

Yesterday a few family members were going to try ear candles, and someone mentioned that putting a little Vaseline on the bottom of the candle helps create a better barrier or vacuum for the ear candle to work more effectively. This turned the gears in my brain about what other uses there are for this substance found in nearly every American household.

Vaseline has been around since the late 1800s, and is one of the common every-day products we sometimes take for granted until we need it. Made from petroleum, Vaseline is gentle and harmless and useful in many different areas of your household. Here are some common and not-so-commonly known uses for this wonder product, which also happens to be very cheap.

Beauty & Skin Care
Vaseline’s most common use is as an ointment used for moisturizing dry skin and healing mild skin irritations. Beyond this, Vaseline is useful as a cosmetic substitute for the following:

Gentle and effective make-up remover
Night cream – effectively locks in moisture without clogging pores
Base for homemade eyeliner and blush (mixed with food coloring)
Lip balm/moisturizer
Split-end treatment
Spray tan stain protectant
Body scrub (combine with sea salt)

Other useful beauty tips:

Place a dab of Vaseline on your pulse points before you spray on perfume. It will last twice as long.
When dyeing your hair, apply Vaseline to your hairline to protect your skin from stains.

Stain Removal & More
When you think of common household stain removers, you probably don’t immediately think of Vaseline, but it is effective for many stains and other common household situations. You can use Vaseline to:

Remove lipstick stains from teeth and makeup stains from clothes and linens
Lift water marks or gum from wood
Keep jar lids from sticking
Lubricate threads on outdoor light bulbs
Easily remove wax from candle holders (coat with Vaseline before burning candles)
Keep your carved pumpkins fresh
Improve the effectiveness of ear candles
Stop corrosion on car batteries
Stop a squeaky faucet
Shine shoes

As you can see, Vaseline has many uses within your home and should have no trouble retaining its place in your bathroom cabinet. Using Vaseline for these and other household purposes can save you time, energy, and money spent on less effective products.

Although there has been some concern that Vaseline could be harmful to the body over time (after all, it is a petroleum product), there has been no proof of this. In any case, there are certainly many other substances much more harmful than a reasonable use of Vaseline.

Try one of these new uses for Vaseline and see how much money you can save. Better yet, find your own new uses and share them with others.

How – and Where – Super Shoppers Save Big

by Gina Blitstein · 0 comments

Do you shop wisely because of rising prices, a shrinking income, greater expenses, because you simply love getting a bargain… or all of the above? Whether it’s due to necessity or the thrill of the score, in the pricey world in which we live, it takes a savvy shopper to save big.

When I make a “killing” in the marketplace, I want to shout it from the rooftops. It always makes me feel like a “super shopper.” Shoppers who often make those “super buys” have a winning skill set which includes:

Knowledge – Shoppers who get the “super buys” know their prices. Knowing what constitutes a good price empowers you to pounce on it when you see it. Knowledge extends from individual item prices to being aware of the best time and place to purchase certain items.
Patience – Impulse buying is the enemy of the super shopper! If you’re not certain a price is good, investigate before shelling out your hard-earned money. Supress your urge for instant gratification until the price is right.
Planning – The “superest” shoppers are planners who approach the marketplace with a master plan for “how much they’ll save” rather than “how much they’ll spend.” They stock up when prices are low and maintain a list of needed or desired items so as to avoid buying at regular prices.

With those skills honed, there’s no reason you can’t become your own version of a “super shopper.”

Bargains can be found in a variety of places in a variety of ways, like these:

Sales – Simply put, items are discounted for a limited time. Of course, we here at CouponShoebox.com gathers a bunch of these sales but there are many other ways to find out about sales as well.
Clearance – Discontinued, last (or end of) season, mismatched, slightly irregular or returned merchandise is often deeply discounted and offered separately from similar items.
Timely purchasing – Savvy shoppers know when items go on sale. Buying at the right time of year makes it easy to get more for your money.
Coupons and (coupon stacking) – Whether you clip them from the Sunday newspaper, print them from the Internet or load them to your shopper’s loyalty card, coupons can save you significant amounts of money on the items you purchase. Some stores reward frequent patrons with savings vouchers based upon their shopping history. Learn more about the new age of coupons. Coupon champions understand how to “stack” coupons, using a product coupon in conjunction with a store coupon to really bump up the savings at the register.
Off-price retail stores – T.J. Maxx, Marshall’s, Home Goods, Tuesday Morning are all examples of department stores that carry name-brand items at significantly lower prices.
Private label stores – Grocery chains like Aldi carry private label groceries and specialty items which are often as good or better than their name-brand counterparts at much lower prices.
Online – Many items, especially through larger companies such as Amazon.com, Drugstore.com are significantly cheaper than identical items at brick and mortar locations. Selection online is often much more extensive too, empowering you to choose items that best fit your desires and budget.
Internet group coupons – Groupon, Living Social, Amazon Local and Dealfind are gift certificates you purchase at discounted prices for items, meals, services or tickets.
Shopping gateway sites – Ebates is an example of a shopping gateway – a website through which you access other shopping websites – from which you earn monetary rewards.

There’s no shortage of opportunities to save when you shop – you need only the willingness to learn and implement your own “super shopping system.” Super shoppers know their way around the marketplace and can navigate the retail waters wisely, getting the best value for their money.

What are your “super shopper” saving secrets?

E-books or Paper Books?

by Jessica Sommerfield · 1 comment

E-books are quickly becoming vogue in a world of smart phones, e-readers and tablets. However, there are still book connoisseurs religiously devoted to traditional books. There is no question that the ranks of book lovers are easily divided over the superior experience of reading an ink and paper copy of a favorite book instead of a cold, virtual electronic format. Beyond personal preferences for the reading experience, here is a look at the pros and cons of these two formats as it will affect your pocketbook.

Outright cost: E-books aren’t always cheaper
It’s common knowledge that it costs publishers much less to produce paperbacks and hardcovers than they let on. You’ll often find that the hardcover version of a book is available for $25, while the same book in paperback or electronic format is only $13. Does it really cost that much more to produce a hardcover? Although it’s easier and less costly for publishers to produce books in digital format than to print them, the total package price of electronic books is still roughly that of paperbacks, and in some cases, more. Considering production costs, it would seem that e-books should be incredibly cheap. But since electronic books require no re-prints and are easier to update, the same ‘copy’ of a book in digital format will retain its value longer than its printed counterpart. Publishers are also able to offer huge price cuts on paperbacks when books are reprinted or over-printed, savings which trickles down to the consumer.

Pros and Cons
Since paperbacks and e-books often cost the same, which should you choose? Here are some pros and cons of paperbacks and e-books.

Availability & value. Since e-books are fairly new, there are still thousands of books not yet available electronically. Some books hold high sentimental and even monetary value if they are antique or rare; electronic books can’t carry this value.
The used book market. Used books aren’t a concept transferable to e-books. You can often find used books much cheaper than new ones, and, as mentioned, e-books rarely lose their value.
The reading experience. Many readers simply enjoy the feel of books and being able to turn pages versus reading from a computer screen. Market developers have tried various features to enhance the book-like qualities of e-readers, but for some, it’s just not the same.
Technological advances. E-books do have some advantages. Most e-readers have organizational and reference features paperbacks just can’t compete with, such as easily retrieving highlighted texts, notes and bookmarks, built-in dictionaries, phrase searching and even social media sharing. Because e-readers are electronic and their memory is stored, your books are also safer than on paper, where they can be more easily damaged or destroyed.
Storage limitations. Although books are very portable, they take up a lot more physical space, which is limited. Libraries can only hold so many printed books, and personal libraries even less. If your bookshelf is getting too full, you might want to start buying e-books, especially for those which hold no sentimental value. Producing e-books is also more environmentally-friendly than printing, so keep that in mind if you value sustainability. You can always sell your unwanted books to produce cash for more e-books.
Some discounts. And, even though many best-selling and new release books will cost just as much on your Kindle or Nook as they do from the bookstore shelf, you may be able to find classics, short stories, and other e-book-only titles that are as cheap as $.99.

In conclusion, printed books still have their place, but electronic books are quickly becoming the medium of choice for modern authors and readers. Enjoy the advantages of both worlds and save money, space, and the environment whenever possible.

Where You Shop Matters to More Than Your Wallet

by Gina Blitstein · 0 comments

Where do you shop? The options available are as vast as they are varied, from the physical world to the web. Much of the determination as to who gets our money has to do with the item or service for which we’re shopping.

Shop Locally?

A myriad of factors go into deciding where to shop for what. You may prefer to shop locally if the following issues are a priority for you:

Fit – Although you can certainly purchase clothing online, many people prefer to actually try things on rather than trust the sizing from an online store.
Color – There’s no definitive way to determine color online. Seeing it in person is the only way to make certain you get the one you want.
Personal contact – You may prefer to purchase from an actual human who can inform you about a product or service and field your questions. You may also feel more comfortable making a purchase from a “place with a face” should you need to return a product make a complaint.
Personal service – A level of personalized customer attention can be offered by a local professional that even stellar virtual customer service can’t touch. In certain professional relationships, like Insurance Agent, there’s a major benefit to doing business with someone who has firsthand knowledge of the intricacies of your unique circumstances and needs.

Shop on the Web?

Shopping on the Internet offers significant benefits, including

24/7 Convenience – Shop anytime for virtually anything.
Choice – Comparison shop by features, price, brand, model…it’s all there for the finding.
Price – Because they lack the overhead of a brick and mortar store (like rent), online prices are often considerably cheaper.
Information/Reviews – Most shopping sites provide detailed product descriptions, an About Page and information about their store and products and/or services. Many also include customer reviews or testimonials so consumers can learn what others think.

While it’s true that many services, like haircuts, restaurant dining, child care, electrical and plumbing services and dry cleaning still must be conducted from a “brick and mortar” location, many more, from tax preparation to legal services to psychic readings are available online. The choice is ours as to where we do business.

Why the Choice Matters

Where “should” you shop? The answer depends on your priorities. While the Internet makes a lot of shopping easier and less expensive (especially when you use coupons we’ve gathered here, there are undeniable benefits to shopping locally. According to The 3/50 Project, if half the employed population spent $50 monthly in independent, locally-owned stores, $42.6 billion in revenue would be generated. That’s money that could be in the pocket of folks who live and work in your community. The site goes on to say that, for every $100 spent locally, $68 stays in the community, paying taxes, payroll and other business expenditures. By comparison, that same $100 spent at a national chain store returns only $43 to the community and online purchases return nothing at all.

It’s a fine line for consumers to walk. Certainly we want to fuel our local economies by spending locally. Pumping money into our communities makes for a higher standard of living for all. However, local businesses are often, by necessity, a bit pricier than other shopping options and we know that it’s important to spend prudently.

Bottom line, I suggest you take the advice of The 3/50 Project: Choose the three local, independent businesses you’d miss if they closed up shop. Patronize them whenever you can to do your part in helping them thrive. Shop online or at national chains for the rest of your purchases. You’ll be spending your money responsibly on all fronts.

Where do you shop and why?

One-Half Pork Loin, 5 Diverse and Tasty Dishes

by Gina Blitstein · 0 comments

I was recently shopping and came across a lovely half pork loin at an awesomely affordable price. Since it’s just my husband and I, though, 4+ pounds of pork is a lot to deal with at one time. Even with my famous creativity with leftovers, I was afraid that it would either spoil or we’d become “porked out” and not want to eat it all.

Either scenario would be wasteful and run counter to our frugal lifestyle. That’s why I decided to portion-out the raw pork loin and freeze it in single-use packages. I simply sliced to pork into ten approximately one-inch slices – like boneless pork chops – thinking that would be the most versatile way to deal with it in the future.

I used two pork slices immediately on the following dish:

Pecan-Crusted Pork Patties

Ingredients

2 one-inch slices of pork loin

Flour for dredging, seasoned with salt, black pepper, cayenne pepper, dehydrated bacon bits, granulated onion, dry mustard and paprika

1 egg + 1 T water, beaten

1 c finely chopped pecans

Vegetable oil for frying

Method

Pound out the pork slices very thin, less than ¼” thick.

Heat oil in frying pan to medium-high.

Dredge pork in seasoned flour on both sides. Dip into egg; once coated, press into minced pecans, coating both sides. Place into heated oil and brown on both sides until pork is cooked through, about 10 minutes total.

Pork patties could be served with applesauce on the side. Sweet potatoes or squash makes a tasty accompaniment.

Now to consider those other packages of pork… I generally cook in a free-form manner rather than following a recipe, per se, so I can take advantage of what I have on hand rather than feeling the need to buy particular ingredients every time I cook a meal. That’s why the following are meal “ideas” rather than actual recipes. I hope they inspire and liberate you as they do me in the kitchen.

Oriental Pork

Cube the pork and marinate it in soy sauce, garlic, orange juice and vegetable oil. Stir-fry with your choice of vegetables (broccoli, pea pods, celery, bean sprouts, bamboo shoots, Chinese cabbage…). Sprinkle with toasted sesame seeds. Serve with steamed rice or noodles.

Barbecue Pork

Slice pork thinly and saute in vegetable oil with minced onion, salt and pepper. Add barbecue sauce or create your own with ketchup or tomato sauce, brown sugar, mustard, Worcestershire sauce and liquid smoke. Simmer to allow seasonings to permeate pork, then serve on buns with coleslaw and/or corn on the cob.

Mexican Pork

Pound the pork to ¼ in thickness. Dredge in flour seasoned with salt, chili powder, cumin, granulated onion. Saute in olive oil until browned on both sides and cooked through. Serve with refried beans and tortillas; garnish with salsa, sour cream and shredded cheese.

Greek Pork

Season pork “chops” with salt and pepper. Brown on both sides in olive oil. Combine lemon juice, honey, garlic and oregano and pour over pork in pan. Reduce heat to low and simmer about five minutes. Add vegetables (zucchini, spinach, tomatoes…) around pork and allow to cook until crisp-tender and pork is cooked through, about 10 more minutes. Pour sauce remaining in pan over pork. Serve with oven-roasted potatoes.

Don’t be intimidated by a large amount of meat. The prices are often lower on larger cuts than on smaller packages of the identical product. With a little prep work, you can cut a large portion down to manageable sizes and with a little creativity, you can create several distinct meals from one thrifty purchase.

How do you utilize a large quantity of meat?

5 Possible Holes in Your Homeowners Coverage

by Miranda Marquit · 0 comments

One of the best ways to protect your largest asset, your house, is to buy homeowners coverage (if you use a mortgage to buy, this is usually a requirement).

If something goes wrong, and your home is damaged and needs repairs, or if it is destroyed, you can use the insurance pay out to replace some — or all — of what you have lost. The loss of your home is devastating enough; you don’t want the financial hardship of paying to replace everything entirely on your shoulders all at once.

As useful as homeowners insurance is, though, it’s important to recognize that there are likely to be holes in your coverage. Here are 5 things to watch out for as you secure your homeowners coverage:

1. Business Use of Your Home

Not all homeowners policies cover what happens in your home office. If you run a business out of your home, damage to the equipment, and the area of your home that acts as your office, might not be covered. You also might not have liability coverage if a client is injured while on a business visit to your home office.

Double check the coverage. You might have limited coverage, or none at all. Consider adding business coverage to your homeowners policy if it is lacking.

2. Valuable Contents

Do you have a lot of valuable items in your home? From collectibles to fine art to heirloom jewelry, if you have valuable items they might not be adequately covered. Find out the limit on the contents portion of your insurance policy, and then increase the coverage, or buy specific coverage for particularly valuable items.

3. Liability

A portion of your homeowners policy is designed to protect you from lawsuits if someone is injured on your property. If you have a high net worth, though, someone might sue you for more than your homeowners policy covers. If you are concerned about this situation, look into umbrella insurance. These policies are designed to provide extra liability coverage above and beyond what your other policies provide. They can be a protection if you are worried about high-cost lawsuits.

4. Natural Disasters

Double-check your insurance policy to see what natural disasters are covered. You might be surprised to discover that some damage to your home isn’t covered in your specific policy. In many cases, flood insurance isn’t part of your homeowner’s policy. Other items like hurricanes, tornadoes, earthquakes, and mudslides might also be excluded. If you live in an area prone to any of these issues, there is a good chance that the natural disaster isn’t covered. Assess the situation, and determine whether or not additional coverage is warranted.

5. Increase in Value

Have you been in your house for a long time? Has the value increased from when you first bought? If so, you might not have adequate insurance. You want to be able to be fully covered for the current value of your home. Make sure that you have coverage adequate to the new value of your home so that if something happens, you can handle the replacement at current prices.

Getting Healthy Can Save More Than Just Your Life

by Jessica Sommerfield · 0 comments

As rates of diabetes, heart disease, and other obesity-linked health problems have increased, so has our culture’s focus on getting and staying healthy. As a nation, we have worked to increase the nutrition of our children’s school lunches and snack choices, created weight-loss shows and programs to make fitness appealing, and held fast-food chains responsible for disclosing the caloric content of their tasty but typically unhealthy products. All of these changes help improve our health, our quality of life, and our longevity. But did you know that there are also financial advantages to living a healthy lifestyle? Here are some ways that improving your health will save you money.

Lower grocery bills. Although healthy choices such as organic meat, dairy and produce are comparatively more expensive than their counterparts, choosing to improve the nutritional value of foods you purchase and consume will make a difference in your grocery bill, overall. Just eliminating unnecessary and unhealthy junk foods from your cart will cut a significant amount of spending, allowing you to focus more on the quality of the food you are buying. Keep in mind that although processed, packaged foods seem cheaper initially, buying the basics and cooking meals yourself will save more money per meal.
Less dining out. Let’s face it – our culture is very experienced-focused when it comes to eating. Dining out is a weekly occurrence in most American households. If you consider portions alone, few restaurants encourage healthy eating habits; and, of course, dining out is significantly more expensive than preparing food at home. Choosing to eat healthier will require eating out less, keeping more money in your wallet.
Cheaper entertainment. Sedentary activities are often more expensive (i.e. going to the theater, renting movies, gaming). A healthier lifestyle will often save you money on entertainment because being active is entertainment in itself.
Lower fuel costs. Getting active by walking a few blocks to work versus driving saves fuel while pushing forward your fitness. Other ideas: take your family on a bike ride to a nearby town or park; mow with a push mower; shovel instead of using a snow blower.
Fewer medicines and doctor bills. Although controversial, it’s a general truth that people who live healthier lifestyles need fewer medications and doctor visits. Losing weight and eating a low-fat, high-fiber, nutrient-rich diet has been proven to lower cholesterol, improve diabetes, and affect all aspects of our physical health.
Lower health insurance. Medical insurance providers have to consider unhealthy people a risk, just as automobile insurance companies consider drivers with traffic violations to be a greater risk. In recent years, medical providers have provided significant monetary incentives for its recipients to stop smoking, lose weight, and enroll in fitness programs.

These and countless other savings are the natural result of choosing to live a healthier lifestyle. Remember that getting and staying healthy is not only good stewardship of your body and your health, but of your present and future finances, as well.

19 Home Refresher Ideas for Under $100

by Gina Blitstein · 1 comment

As winter wears on and our same four wall seem to close in on us, we find ourselves longing for a change of scenery. Spring’s natural reawakening is still a couple months away but in the meantime, we can renew our spirits by freshening up our indoor environment.

While a total home – or even room – makeover would be ideal, even smaller, economical changes can make a significant difference in sprucing up our living space. Here are 19 very affordable ideas to perk up our homes, all under $100 – and some cost only time and effort.

Paint – Experience the power of color! A change of hue (even on one wall) can change the whole feel of a room.
Wall Treatments – Wallpaper, borders or stencils can add character and a custom vibe to a plain wall.
Replace or repaint/restain baseboard/moulding – These architectural features often fade into the background. Show them some attention and they can add lots of character to a room.
New hardware – Replacing kitchen and bathroom hardware works like a facelift – revitalizing even older or unremarkable cabinetry.
Decorative film – Add personality and distinctive light play to a room by covering a window with decorative vinyl film.
New shades/globes for lamps or fixtures – Completely change the look of your lighting by replacing shades or globes on lamps and wall or ceiling fixtures.
Rearrange furniture – Make a room seem bigger – or more intimate – simply by moving furniture around. The change in traffic flow will make the space seem new and inviting.
Rearrange/redistribute accessories – After a while, we fail to see the items that populate our living space. Bringing vases, photos, statues, wall hangings, candles and other decorative items from one room to another provides an opportunity for them to be appreciated in completely different surroundings.
New fabrics – Pillows, pillow shams, throws, table linens, towels, chair covers and shower curtains are all examples of how fabric accessories can add a new and exciting splash of color, pattern and texture to your home.
Houseplants – Never underestimate the power of living things to revitalize our environment. Distribute a little bit of nature here and there to add warmth, color and life.
Display an existing collection – Instead of them languishing in storage, use your collections and memorabilia for a new and meaningful decorative experience.
Area rugs – Add color and pattern while tying a color scheme together and defining a space.
Window treatments (curtains, blinds, shades, valances) – Changing your windows’ “dressing” updates a room dramatically.
Change one piece of furniture – Pick a piece – any piece – and paint, distress, stain, stencil or cover it in fabric.
Fragrance – Change is more than visual. Freshen the air with potpourri, pinecones, scented oils, candles, eucalyptus…
Organize it! – Pots and pans, clothing and shoes, tools and household supplies… Homes are subject to clutter accumulation and poor storage. Organizing something significant can make it feel like a new home.
Repurpose items – Using existing items in new and different ways gives them new life. Think outside the box to see your household items in a new light.
Repurpose an area – This is a challenging idea but, could you switch the use of a couple of your rooms, like, dining room and family room? It’s sure to give you a fresh perspective!
Do a deep clean – When all else fails, clean it! Steam clean your carpets or have your window coverings or area rugs professionally cleaned. It’s amazing how refreshed it will make your home feel – and appear.

It’s not costly to refresh your environment while you wait for spring!

How do you renew your living space inexpensively?

Charitable Giving: Claim Your Tax Deduction

by Miranda Marquit

While the primary reason that you give to charity probably isn’t the tax deduction, it doesn’t hurt that your generosity comes with a financial benefit. You can reduce your taxable income with the help of the deduction you get for your charitable donations.

As you consider your charitable expenses from last year, and as you plan for the coming year, here are some ways that you can see a tax benefit from charitable giving:

Donate Money

Most of us are familiar with the idea of donating money to charity. When you give, you can deduct your donations if you itemize your deductions when you fill out your tax return. It’s important to note, though, that you will need a receipt from the organization if you give more than a certain amount. It’s best to get a receipt in any case. Even if you give to a church, there is a good chance that you can get a receipt. Keep track of your donations, and then ask for a receipt at the end of the year.

Donate Goods

You can also donate charitable goods and take a tax deduction. You can deduct the current market value of the goods (you don’t base your deduction on what you paid for the item originally). The items you donate must be in good, usable condition. Additionally, you will need a receipt from the organization verifying the value of your donation. You might also need to fill out what you originally paid for the items as you complete your tax return. If you aren’t sure (who really remembers what they paid for something they haven’t looked at in 10 years), you can usually estimate based the current market value of the goods.

Deduct Mileage and Items You Buy for the Charity

If you are actively involved in helping with a charity, you can deduct what you spend in those efforts. You receive a deduction in the amount of 14 cents per mile that you drive on behalf of a charity. That amount isn’t indexed to inflation, so it remains steady, no matter the current conditions, and no matter how prices rise.

Keep a mileage log in your car. Note the date, the odometer reading as you start, and the odometer meeting when you finish. Then total up the miles. Remember that you can on

← Previous Entries

Next Entries →