15 Tips for More Affordable Vacation Travel

by Gina Blitstein · 0 comments

You may be thinking a vacation isn’t in your budget at this point in time. Don’t put your suitcases in the attic yet! I asked Tiffany Aliche, owner of The Budgetnista, for tips on making travel more affordable. Tiffany offered the following suggestions:

Turn a layover into another vacation – Normally layovers are annoying and often necessary evils, but its all in your perspective. Roll with it and plan to stay a while for some fun in your layover destination since you’ll be there anyway!
Set up fare-watchers – A FREE fare-watcher will help you get the best deals at the lowest price, especially if you’re flexible with your travel dates and times.
Be a guest – When I travel, I prefer to go where I can stay with family and friends. First, I avoid the cost of a hotel. Second, the host provides a “behind the scenes” tour of the destination (including all the FREE, fun stuff I’d never know about). I repay my host by grocery shopping and preparing most meals while there, which leads to a third benefit because I save on eating out at restaurants as well!
Be a tourist in your hometown/state/region – Many of us turn our nose up at the amazing things to do located right in our own backyard! Visit your local tourism website to discover your own area’s tourist attractions and you’ll save big bucks on transportation and lodging.
Menu please! – In Europe, eat out for lunch rather than dinner. Many countries offer special low-cost lunch menus that usually include several courses at half the cost of dinner.
Stay in school – If you’re traveling to Europe (and many other countries), bring your student ID. Students enjoy major discounts on tours, museums and other tourist attractions in many countries.
Gift-giving – Local coffee, sweets or treats purchased on your vacation make great low-cost gifts and souvenirs for those back home. Your family and friends get a thoughtful “taste” of your vacation, and you get to save money.
Eat for less – If your hotel isn’t all-inclusive, make sure that it at least offers a free continental breakfast and is close to a market. This way, you won’t have to worry about scaring up breakfast every morning and you can buy foods at the market for the rest of the day to avoid costly dining at restaurants.
Bigger IS better – Bigger airports mean more competition. Choose the biggest airport near you to save on ticket prices.
It can pay to be late – Don’t buy your plane tickets too early. Airlines don’t start releasing cheaper seats until 3-4 months before domestic departures dates and 4-5 months before international departure dates.
Be flexible – Score cheap tickets by being flexible with the days and times of your desired travel.
Check individual sites – Remember to check low-cost airlines’ individual sites because they are often not quoted on those group sites.
Know the best time to buy – For airline tickets, the best time to shop for domestic travel is Tuesday at 3:00 PM Eastern Time.
Know the cheapest time to fly – The first flight in the morning is the cheapest. The next best times are during or directly after the lunch and dinner hour.
Know the cheapest travel days – Wednesday, then Tuesday and Saturday are the cheapest days to travel. Friday and Sunday are the most expensive.

These tips will help you save on the major costs associated with vacations, like airfare, lodging and food. People who are hip to tips like these can save big bucks on travel. Maybe you can get away after all…

How do you save on the costs associated with travel?

4 Places to Look for Coupons

by Miranda Marquit · 0 comments

In order to get the best combination for savings, and stretch your grocery dollar further, it’s a good idea to look for coupons wherever you can. There are a number of ways to find coupons that you can use as a shopper. The more coupons you have, the more money you save — especially if you can stack your coupons.

As you prepare for your next grocery store trip, here are 4 places to look for coupons:

1. Newspaper

One of the time-honored traditions of the coupon-clipper is to look in the newspaper for coupons. Many Sunday papers come with coupon inserts brimming with discounts. Take a look through the inserts, and select coupons for the items that you normally buy.

2. Mailbox

Your mailbox might also contain coupons. In many cases, the same coupons that you find in your newspaper insert are also delivered to your mailbox. On top of that, you might receive an envelope of ValPak coupons, or Hometown Values coupons. You might be able to stack these coupons with those you get from the newspaper, or find coupons for additional items.

3. Internet

The Internet is a great place to go for coupons. In fact, if you are looking for coupons for specific items or brands, and you might be able to go right to the source online and print off a coupon. On top of that, coupon aggregator sites like CouponShoebox (yours truly) can help you find thousands of coupons.

You can even sign up for a service like CoupSmart to have specific coupons delivered right to your email inbox. Combine what you find online with what you find offline, you can really start to boost your savings.

4. In-Store

Finally, keep your eyes open as you shop. Many stores have little coupon dispensers in the aisles for certain items. The gourmet sausages I like to use in some of my cooking often come with coupons attached to the packaging. Watch for coupons for items that you plan on buying anyway. Take a few seconds to look around, just to see if there is a coupon.

Careful Coupon Clipping

As you clip your coupons, make sure that you follow the principles of savvy shopping. One of the temptations with many coupon resources is that you see coupons for items that you don’t actually plan to buy. Don’t use the coupon as an excuse to buy something that you hadn’t planned on purchasing.

Instead, make a list, and stick to it. Choose coupons for items that you normally buy or that you know you will use later. When possible, use your coupons on items that are on sale as well. You want to compound your savings so that you get the best possible outcome for your couponing. You have to use your coupons within the framework of a larger plan.

It doesn’t have to take long to clip coupons and make a shopping list. With a little extra effort and time, you can start adding up the savings on items that you normally buy with the help of coupon clipping.

Planning for the Unexpected

by Jessica Sommerfield · 0 comments

Life is highly unpredictable – day to day, hour to hour, circumstances can change, and not always for good. Although you may not always be physically or emotionally prepared for a major crisis, you can have the peace of mind to know you are financially prepared. With a little planning, saving, and maintenance, you can create a cushion of funds to support you in a crisis and eliminate some stress when the expected happens. Here are tips on how to make it happen.

Set aside enough funds for 6 months of living expenses. Not every emergency situation will require this much money, but 6 months of income should allow you either:

1. Enough money to cover major unexpected expenses such as vehicle tows or repairs, plain tickets, hospital bills, etc.

2. Enough funds to support you for a few months in case you get laid off or otherwise find yourself suddenly unemployed.

An even better idea if you have a two-income family is to set aside 6 months’ worth of both incomes. Yes, this may seem like a large chunk of money, but you will appreciate it in the odd chance that both you and your spouse lose your jobs at the same time.

Use your emergency funds only in an emergency. The important part of an emergency fund is having it available in a true emergency. Dipping into your savings for regular or impulse expenses on a regular basis is a sure way to drain your emergency fund, and you are lowering the chances the money will be available when you actually need it. If you find yourself dipping into your emergency fund frequently, it’s a good sign your budget may need some tweaking. If you plan to put more than 6 months’ worth of living expenses in your savings, you may be able to dip into it for slightly less urgent (but still unplanned) expenses, such as the down payment on a new vehicle you need or an amazing house you stumble upon.

On the other hand, if you plan to put more than 6 months’ worth of living expenses in your savings, you may be able to dip into it for slightly less urgent (but still unplanned) expenses, such as the down payment on a new vehicle you need or an amazing house you stumble upon. Being an over-saver may allow you to jump at opportunities others are unable to.

Replenish what you use. If you use emergency funds, don’t forget to replenish them. The ideal is to maintain 6 months’ worth of expenses at all times. Life isn’t always fair with dealing out emergencies. You could be stuck with two major emergencies in a short time frame – another example of why it’s better to save a full year or 6 months’ worth of two incomes. The sooner you replenish your fund, the sooner you’ll have peace of mind that you’re prepared for the worst.

Make it easier to save by using payroll deductions. If you have electronic banking, the best way to start building your emergency fund and keep it maintained is to set aside contributions from each paycheck. As a rule of thumb, you won’t miss money you don’t get to see. Even a small amount such as $20 can quickly turn into hundreds over the course of a few months.

Emergency funds are a key component of financial stability and responsibility. With money in the bank for a ‘rainy day,’ you will be significantly less stressed in a crisis, and in turn less of a burden on friends and family members who might otherwise have to bail you out. You don’t have to be a fatalist or expect the worst to happen – just be prepared for it.

A New Year of Money: Assess, Adjust and Move Forward

by Gina Blitstein · 0 comments

You’ve taken on the challenge of improving your finances in the new year – congratulations are in order! This article is the last in a four-part series on the subject of seizing the opportunity a new year represents to make significant changes to your financial state. In Part 1, A New Year of Money: Evaluating Your Financial State, I discussed how to discover the current state of your finances. Part 2, A New Year of Money: Goal-Setting to Make an Impact, served as a guide to determining goals while Part 3, A New Year of Money: Implementing Positive Financial Changes, provided support for taking actions that would lead to a stronger financial foothold.

No plan, financial or otherwise, can succeed with a, “Set it and forget it,” mindset. Vigilance is the key to success. Now that you’ve taken the steps to decide upon goals and implement them, it’s important to keep a watchful eye to make sure that you are, indeed, making the positive changes you desire and anticipate. It’s important to put into place a means by which you can measure your headway on those goals. Remember, these types of things can impact the best laid financial plans:

The unexpected – Loss or decrease of income or higher expenses than expected
Human nature – Nobody’s perfect. That high-ticket item tempted your credit card right out of your pocket…
Carelessness – Perhaps you forgot about a payment that was due and now you’ve incurred a penalty or late fee you hadn’t anticipated.
Errors in judgement – The amount you budgeted for groceries or transportation could have been significantly lower than reality. Maybe dividends from an investment were lower than you’d planned on.

Assess your plan monthly

It’s important that you recognize and remedy these types of incidents when they occur. Gone unchecked, they can easily snowball from a minor blip in your plan to an out-of-control problem. That’s why, each month, you should review your budget to make certain that it reflects your most recent and realistic spending habits. Acknowledge your progress and shortcomings.S

Adjust as necessary

Certain expenses cannot be controlled, even through frugal living and mindful spending. If you need to budget more in certain areas, so be it. Rates for utilities, gasoline, even groceries, are always on the rise – even though your income may not be. You still need power and water in your home; you still need to be able to drive your vehicle and eat, so reallocate some of your “discretionary” money to those categories so that they are always covered by the budgeted amount.

As for the rest of the “monkey wrenches” that can throw your financial goals off target, it’s up to you and your diligence.

Vow to learn from your careless mistakes and not repeat them.
Learn the satisfaction of delaying gratification until you can afford to make purchases without using credit.
Become more financially informed by learning about investing so you can make more profitable investment decisions.

Move forward

Finances are never carved in stone. The best you can do is the best you can do. Don’t expect perfection from yourself because it will only lead to discouragement. Chalk up mistakes and miscalculations to experience and move on with greater knowledge backing you up. Each effort you make toward spending wisely and managing your resources responsibly is a step toward overall mastery of your financial situation.

Whether your finances are meager or vast, you can make significant strides toward creating your best possible financial circumstances when you take control, learn, remain vigilant and forge ahead.

How do you track your financial circumstances and assess your progress toward goals?

Watch Out for Tax Refund Fraud

by Miranda Marquit · 0 comments

Tax season is underway, and that means that fraudsters are starting to pick up the pace. One of the growing forms of identity theft is tax refund fraud. Identity thieves file a tax return with your social security number on it, posing as you, and then pick up your refund. You might not even know about it until you try to file your own return, and find that your refund has already been “paid.”

How Tax Refund Fraud Works

This type of identity theft is fairly easy to perpetrate. The identity thief gets your Social Security number from some information source, whether they hack a database, or find information with your number lying around. The thief fills out a tax return, using your Social Security number, and maybe even your name, but putting a different address on the form. Then, the fraudster just has to file the tax return before you do. (This year, the earliest you can file is January 30, 2013.)

An identity thief can also claim refundable credits, like EIC, on your behalf in order to boost the amount of the refund. The IRS receives the tax return, processes it, and then issues the refund. When you try to file your return, you receive a notification that a return bearing your Social Security number has already been filed. This can be frustrating and disappointing, especially since you won’t get your refund until the situation is resolved.

What You Should Do if You are a Victim of Tax Refund Fraud

The good news is that you do have options if you are the victim of tax refund fraud. First of all, if you find out that a refund has already been filed with your Social Security information, you need to file a Form 14039 with the IRS. This form is designed to help the IRS know that there might have been a breach, and that fraud could be involved.

When you file your Form 14039, you will need to include documentation that proves your identity. You might need to mail or fax copies of your passport, driver’s license, or ID card to the IRS. You might also be required to send in other identification. Remember to only send copies; you should never part with original documents.

Once you have notified the IRS of the problem, an investigation will take place. However, it can take months before things are sorted out and you receive the tax refund you are entitled to. While you wait for the IRS investigation to be completed, you need to move forward to protect yourself in other ways. First of all, the reality is that your Social Security number is clearly out there. Consider placing a credit freeze on your identity so that identity thieves can’t use your information to open credit accounts. Double-check all of your accounts and your credit report, and watch for signs of fraud. You can also report the problem to law enforcement authorities.

While the fraudster probably won’t be caught, you can at least limit the damage to yourself, and make sure that you do everything possible to get the tax refund you have coming.

6 Simple Tips to Getting Organized

by Jessica Sommerfield · 0 comments

Personal organization is always one of the top New Year’s resolutions. Everyone wants to be organized because it can make every area of your life run more efficiently and eliminate the stress that clutter brings. Organization can even save you money as you discover items you misplaced or have a better grasp of your pantry’s inventory. As desirable a goal as organization is, it is much easier talked about than actually accomplished. Tackling clutter can be a daunting task, so here are some tips on how best to make your organization goals a reality.

Make a list. Yes, the best way to start your organization is with an organized approach! Make a list of what areas of your home or life you want to get organized (i.e., garage, pantry, kitchen cupboards). Add any specific ideas or plans you may have, such as the addition of shelving or storage bins. Whenever you feel like you’re getting off track, refer to your list for renewed direction and motivation. And, of course, cross off items are you accomplish them. Nothing feels better than being able to visualize your accomplishments.

Tackle one thing at a time. If you have a lot of areas to get organized, you can end up running from project to project, only partially completing them and therefore not accomplishing anything. Force yourself to stay on one task at a time. If you feel yourself getting burned out, take a break and do something else. Going away from a project for a while often brings clarity and ‘fresh eyes’ that can help you get past roadblocks.

Employ the help of friends. The best ideas often come from outside sources. If you’re feeling stumped or overwhelmed with a project, enlist a friend to help you gain new insight and offer fresh ideas. In return, you may be able to help them brainstorm how to organize an area of their home.

Use resources at the library and online. Instead of buying home decorating or organization magazines, consider checking them out at the library. Libraries keep a current edition of most popular magazines, and one of them is sure to have some tips that can help you. Numerous online articles exist to help you battle specific organization dilemmas, as well as free membership-based sites where you can interact on forums and seek personal advice.

Don’t be afraid to throw things away. In the course of your organization, you will probably discover many belongings that have outworn their use, never been used, or you have no idea where they came from. As you go through each room, set aside items to be thrown out, donated, or sold. Eliminating stuff you aren’t using will automatically ease your ability to organize. If you don’t have enough space for items you claim you still need, consider whether it’s worth the extra expense of building or renting additional storage. If the value of the items doesn’t outweigh that trouble and expense, get rid of them.

Enjoy the rewards. When you have finally reached your desired level of organization, enjoy the rewards of a more frugal, less stressful, and less cluttered life. If you feel particularly inspired, pass on what you’ve learned to others.

A New Year of Money: Implementing Positive Financial Changes

by Gina Blitstein · 0 comments

The new year brings with it high hopes. One of those high hopes may be to make headway toward a stronger financial foothold. Hopes are the inspiration but it takes a plan to bring about significant change. In the first part of this four-part series, A New Year of Money: Evaluating Your Financial State, I discussed the importance of examining your past and present financial habits to gain an overall view of your current situation. The second installment, A New Year of Money: Goal-Setting to Make an Impact, examined choosing goals that will result in meaningful changes to your financial situation. In this piece, I’ll suggest some changes that will set your finances on a course to a better place this year.

The key to improving your financial situation is to take a tight grasp of your money matters. You may not have much control over how much comes in but you can exercise a lot of control over how much goes out.

Reassess regular expenses

We often take our regular expenses for granted without even considering that they could be lowered if we trim the fat. Examine these possibilities for cutting down your regular expenses:

Refinance loans at lower interest rates. Consider transferring credit card balances to your lower-interest cards.
Reevaluate insurance premiums. Make sure you’re paying for exactly what you need and nothing more. Look for companies that offer discounts for good habits (non-smoker, safe driver…) or multiple policies.
Do away with your landline. More and more people are opting to use their cell phone exclusively.
Reassess your data plan. Are you paying for more than you really need – or regularly paying for overages? Your carrier can help you choose a plan based on the reality of your use.
Revisit your entertainment options. There are a plethora of low-cost alternatives to the cable TV or satellite plan you may currently have.
Do a household energy assessment. What could be unplugged, turned off (or down) or used less to lower your utility bills? Could investing in more efficient appliances, household repairs or insulation help you save on the monthly outlay?
Lease a car instead of buying. Because lease rates are generally cheaper than an auto loan, you could spend less on your monthly car payment and put the money you saved toward buying something that increases in value over time (unlike a vehicle).
Rethink where you shop. Are you purchasing household items and groceries at the best possible prices? We often get used to shopping at certain stores and fail to recognize cheaper alternatives. Be sure to consider Internet shopping, too – online prices are often quite competitive and many offer free shipping.

Build savings into the budget

Saving is a necessity! Determine a realistic savings “bill” and pay it – like any other expense – into a savings account. It won’t lead to “wealth” but it will strengthen your purchasing power and shore-up your financial footing.

Define a concrete goal

Once you’re sure that your expenses are streamlined, define what will represent financial growth for you. It could be to:

eliminate a percentage of your debt
save six months of living expenses
increase savings for retirement or college
make a significant purchase (without going into debt)
save up a down-payment for a home
make home repairs or renovations

The key to improving your financial circumstances is to manage your existing money in such a way as to free-up as much as possible, then allocating it so it does you the most good, for the short and long term.

How do you plan to improve your financial situation this year?

Should You Refinance?

by Jessica Sommerfield · 0 comments

If you’re interested in buying a new house or deciding whether to refinance, 2013 is shaping up to be a good year for the housing market. According to major mortgage buyers like Freddie Mac, 30-year fixed mortgage interest rates are at a near-record low, reaching digits that haven’t been seen since the 1970s. And, unlike previous years since the housing market crash, the economy is showing signs of growth, further increasing the incentive to buy now.

Although all signs are showing that this year is a great time to buy or refinance your home, you may not be certain whether refinancing is the best option for you at all. The following are some reasons you may or may not want to take this important financial step.

You May Want To Refinance If:

Rates have fallen at least 2% lower than your current interest rate. This is a general guideline. If interest rates in the market have dropped significantly lower than your current loan rate and appear to be stable, it’s a good time to refinance and get a lower fixed rate for your 30 or 15-year mortgage. There may be advantages to switching the type of loan you are carrying, as well, such as from a variable rate to a fixed rate. Improving the terms of your home loan can relieve financial stress and free funds for savings and other financial goals.

You want to consolidate your home loans and other debt. Lower interest rates may be a good time to consolidate two loans into one, a step which could reduce the amount of interest you pay on both and change the pay-off schedule to better meet your needs. Consolidating your debt could also mean adding in other debt, such as credit cards or student loans. Since credit card interest rates are usually much higher than those of mortgages, you will be saving money while achieving the convenience of one monthly payment. Another benefit of consolidating all your debt into your mortgage is that the interest you pay will be tax-deductible, unlike other kinds of debt.

You want to do major renovating or pay for college. The equity, or value or your home, can be the basis of a home equity loan. This may be a good choice if you are comfortable with your monthly payments and need funds for home improvements or cash for college tuition. The exact amount you are able to borrow will depend on your home’s equity and the remaining amount of your loan. Although it’s not advisable to go further into debt, home improvements and college tuition are usually wise investments with long-term benefits as long as you don’t over-extend yourself.

If you think you want to refinance, there are numerous online refinancing calculators to help you get a better idea of what your new loan would look like. Simply plug in your specific loan statistics and the calculator will do the math for you. Beyond online tools, you should contact your mortgage owner to see what options are available to you.

A New Year of Money: Goal-Setting to Make an Impact

by Gina Blitstein · 0 comments

With the new year upon us, we’re likely to feel the desire to make some inroads toward improving our financial state. It’s a noble and prudent idea but not one that can be undertaken successfully without some evaluation and planning. In a previous article in this four-part series, A New Year of Money: Evaluating Your Financial State, I explained the importance of examining your past and present financial habits to gain an overall view of your current situation, and suggested ways in which to accomplish that.

This article continues that plan and will explain how to utilize the information gained from your evaluation to determine goals that will shore-up your financial footing – throughout the new year – and further into the future.

Consider your financial history to set goals

Continue and build upon good financial habits – Congratulate yourself for those things you did well last year! Did you cut back on dining out? Cancel some unnecessary cable or satellite channels? Say, “No!” to yet another electronic device? Decide to save up for a big expense rather than purchase it on credit? If so, you’re exercising mindful spending which is the responsible way to keep as much of your money as possible at your disposal. Keep up the good work!
Correct for mistakes – Nobody’s perfect! Even though you may have made some positive strides, there may have also been some financial missteps. Did you buy a big-ticket item without comparing prices? Overdraw or miss due dates and incur costly penalties? Forget to look for coupons or other ways to save on items you purchased? Note those mistakes, then move on, secure in the knowledge that you’re prepared to avoid those pitfalls from here on out.
Note financial surprises – Unexpected expenses or lost or decreased income can throw even the most carefully-considered budget into a tailspin. Remember to budget broadly so as to lessen the overall impact of these unwelcome surprises.

Choose your most crucial financial areas

Spending wisely and living frugally will provide the maximum amount of your money not earmarked to cover expenses. You can use that “discretionary” money to help you gain even more discretionary money. The idea is simple – the less money that goes elsewhere, the more you have to spend proactively to build your personal wealth.

Consider the following areas to identify five to ten of the most critical areas for your finances. What do you want or need to do financially in the next year and into the future? Allocate those discretionary dollars in these areas:

Pay down debt – The less debt you carry, the less interest you’re throwing out the window. Put as much as you can afford toward eliminating debt.
Save at three levels – Create savings “expenses” in your budget for: 1) “Surprise” savings to cover unexpected expenses; 2) “Goal” savings which will go toward large purchases so you won’t need to go into debt for them; and 3) “Long-term” savings for “the biggies,” like education and retirement.
Invest when you can – Create a lifestyle in which you’re not spending money that’s bringing you nothing in return. If you rent, consider buying a home so you’ll grow equity.
Maintain what you have – A sure way to build wealth is by maintaining your assets, rather than letting them fall into disrepair.

The next article in this series will focus on implementing your financial goals.

Regardless of your income and expenses, spend as carefully as possible and consider these areas when plotting goals for your finances; you’ll soon be on the way to making a positive impact on their overall state.

How do you determine your financial goals?

Plan to Give: Budgeting Charitable Donations

by Jessica Sommerfield · 0 comments

We often think of giving as spontaneous acts of kindness — the act of giving money, goods, or services to others in need. While giving is and should be spontaneous and from the heart, there are also many fiscal advantages to actively planning for charitable donations in your monthly budget. Here are a few advantages and ways to do this.

Advantage #1: Planning giving into your budget allows you the satisfaction of giving while remaining financially responsible. Not to say there aren’t times you should give even if you haven’t budgeted for it; your budget should always be a guideline rather than a mandate. Budgeting allows the planner in you to compromise with your spontaneous, live-in-the-moment side without as many negative financial repercussions.

Advantage #2: Planning to give allows you to give more. How many times have you had an opportunity to give and realized you didn’t have anything to spare, or that the money you had was already designated for other things? At the same time, you won’t be giving as sporadically, such as only when you happen to have extra money. Together this equals more giving over all.

5 Tips For Budgeted Giving

First, you need to determine which charitable causes you want to contribute to. Causes are as unique and personal as you are, so look around and find a cause you can identify with, whether from personal or family experience, emotional connection, or other factors. Giving shouldn’t just be a number on your pie chart, or a percentage of your income. It should be an expression of your personality, your interests, and your heart.

Don’t wait until December to give. While many people and businesses scramble at the end of the year to reach particular giving amounts for the tax write-off, this isn’t the most financially responsible way to give. The end of the year is usually already stretched tight with gift-giving, party, and travel expenses, so you may be unable to give us much of a lump-sum amount as you would like.

Consider a monthly payment plan. Although you can budget and set aside regular amounts of money for your charities of choice and then present them as a lump-sum, there are advantages of submitting monthly payments. First off, you will be less tempted to spend money you’ve set aside or re-purpose it (out of sight, out of mind). Secondly, many organizations prefer this method of giving because it allows them to utilize funds more effectively. After all, charities have budgets, too. If they can count on a certain level of income for an entire year, their projects and output is more definite and their funds will go further.

Give online with automatic deductions. Most larger charities have websites that allow you to give online. This reduces the cost of mailing materials and paper check processing, and is more eco-friendly. Furthermore, many organizations encourage automatic withdrawal of funds on a set day each month. This allows the reliability of steady pay dates for them, and eliminates the risk of forgetting to pay on your end. It is also cheaper to process. Of course, you’ll want to make sure the organization is reputable before giving them your bank account information, and be sure to check your monthly statements for errors.

Don’t forget but don’t overemphasize tax deductions. Most donations to charitable organizations are tax deductible, so be sure to keep record of all your giving for your income tax files. Although this is a great advantage of giving, it can be overemphasized as a motive for giving. Always give for the joy of giving, and consider the financial benefits secondary.

Budgets are a reflection of your priorities. Planning giving into your budget is a way to be true to yourself and a good steward of the funds you’ve been blessed to receive. Beyond a dollar amount each month, there are also countless ways to give of yourself on a daily basis that won’t cost you anything but a little time and effort, and reward you many times over.

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