Do you want to be successful? Start doing these 10 things now!

Instead of thinking over what you could have achieved what you’ve not, today is the day you should start working to build a better future. You cannot change what happened in past, but you can definitely change your future. In this blog post, I thought of sharing some ideas which all of us should follow, but often we don’t.

  1. Stop lying to yourself

  2. You can tell a lie to the rest of the world, but never to you. So, be honest with yourself and accept what you are or what you’ve done and then fix your goal and work towards achieving it.

  3. Do not ever doubt yourself

  4. Always believe that there’s a force within you which is powerful than everything else. So, always try to give your best! Trust yourself and your inner power. We all have unique talents which we should find out.

  5. Have the courage to face the problems

  6. I know it’s tough. But, you have to face your problems and face life’s challenges. Face your problems, learn to solve them, adapt yourself and you’ll be experienced to face life, in a better way.

  7. Do not postpone your happiness for something

  8. You will never be able to happy if you postpone your happiness till you achieve something. Be happy for what you have right at this moment.

  9. Be positive and think positive

  10. The quality of your life is decided by the quality of your thoughts. Thinking positive will make you successful. Wake up every morning thinking that something good is in store for you in this day and if you watch closely, you’ll be happy that you’re right.

  11. Do not wait to be ready

  12. Try to grab the opportunity if you’re 5o% ready. if you wait to be 100% ready, you might have to wait eternally. At least once in life you need to be out of your comfort zone to achieve success. Just jump into it and you’ll see things falling into right place.

  13. Stop being jealous of others

  14. You don’t know what the other person might have gone through; or, there’s how much struggle behind his/her happiness or achievement. So, instead of being jealous of others, try to shape your life as you want to.

  15. Compare yourself with you if you need to

  16. Stop comparing yourself with others. If you need to, compare what you were yesterday and what you’re now. Analyze what you were before and what you’ve succeeded to achieve. Then ask yourself, what you need to do in order to be, what you want to be, in the future.

  17. Do not try to make things perfect

  18. Nothing is perfect in this world. So, don’t waste your time on being 100% perfect. The world doesn’t actually reward perfectionists but who can get things done. But, that doesn’t mean that you shouldn’t be perfect. Just don’t stretch yourself much or carry on with a work for indefinite period just to achieve perfection.

  19. Enjoy the beauty of small things in life

  20. Enjoy the beauty of small things. After some years, when you’ll look back, you’ll reminisce and enjoy these small beautiful moments, some of which have become memorable in your life.

    So, will you promise yourself to start following these things from now on? At least try and you’ll start enjoying your life more… Be happy!

    Categories: Miscellaneous

Is it possible to make your tax filing less stressful this year?

Again it’s that time of the year which most of us don’t like – tax preparation time. However, everyone of us have to go through this regardless of whether or not we like it. What I feel it’s not about how much money you have to give out, but most of us find the process to be stressful.
So, I thought of sharing some tips for smooth tax filing process. I think it can make your job much easier, especially, if this is your nightmare. These tips can help you whether you file it yourself or take help of a tax professional.

Do not keep it for the last minute

I have noticed that it’s a common habit to defer tax filing process until the deadline. But, doing so, you might miss out a potential deduction or a source of income. In short, there are chances you’ll commit an error. So, it’s better to start it on time. It’s already late if you’ve not started the process yet, as we’ve stepped into March. So, do not delay any more.

Avoid last minute frantic searches

You actually experience this when you do last minute filing. You need to frantically search for the tax-related statements, which is not advisable. I have also seen that some people start with the process, but not take into account whether or not they have every document with them. So, start early and at first, make a checklist of all documents you need. By doing so, you can gather the documents which you need but don’t have with you.

Decide what filing status will be most suitable

You need to decide your filing status so that you can organize the documents accordingly. For example, most married couples prefer filing jointly. However, you may not get your expected refund by filing jointly. In some situations, filing separately can yield better returns.

Organize your tax records properly

Organize your tax records to reduce your tax stress. You can follow these steps to organize them properly:

  • Separate records in 3 groups – Collect all your tax records and separate them in 3 groups – Income, Expenses and Deductions, and Investments.
  • Document gifts properly – Only having the letter of thanks for your gift won’t do; you require proper letter of substantiation of the gift, which you need to produce.
  • Make copies and secure them – Always make at least one copy of all your original documents and secure them in a safe place. You can keep them in a safe deposit box which is fireproof or take an electronic back up in your computer. You can also keep an electronic copy in a hard drive that’s encrypted. Also, keep your security software up to date.
  • Keep documents for at least 3 previous years – The state and IRS can examine your income tax return for past 3 years. Therefore, keep documents of past 3 years. However, keep valuable documents (such as, legal documents, retirement and pension records, tax returns, etc.) permanently. It is advisable to use a paper shredder, for documents you don’t need anymore, to avoid theft of your personal information.

Don’t overlook deductions which you’re eligible for

Finally, what everyone of you will be interested – Deductions. Make a note of all deductions you are eligible for. Here are some deductions which you shouldn’t miss out:

  • Medical expenses more than 7.5% of your adjusted income
  • Donations given to IRS approved charity
  • Unreimbursed cost of job searching
  • Cost involved in moving, more than 50 miles, for job purposes and not reimbursed by employer

Make a note of eligible tax credits

Check out whether or not you’re eligible for these tax credits:

  • Child care credit
  • Earned income tax credit
  • Lifetime learning credit
  • American Opportunity Tax Credit

Opt for filing tax for free

You can file your federal taxes for free. If your income is less than $60,000, then you can use free file software available online. If your income is more than $60,000, then also you can use free fillable electronic forms to file your tax.

Pay pre-tax contribution to IRA if required

While calculating, if you find that you still owe some amount to the IRS, then you can make a pre-tax contribution to a traditional IRA before April 15. You can contribute up to $5,500. You can pay up to $6,500 if you’re above 50 years. You can also set up an account if you don’t have one.

Don’t panic if you can’t make required payment

You can file for an extension in order to push your tax filing deadline for six months. However, you still have to pay the amount you owe, with Form 4868. Doing so, your extension for filing tax will be granted automatically.

Categories: Finance

Do you want to become a financial blogger?

If my first love is finance, precisely personal finance, then you can say that my second love is writing. I love to write in order to express my ideas; that’s why I started this blog! I feel that there’s a writer in each one of you. I have seen many people having financial knowledge and wanting to write, but hesitate whether or not they would be able to express their ideas clearly. If you’re one of them, you can go through these points, which will help you organize your ideas and put them in writing. Reading your personal finance blog will help others manage their financial life in a better way.

Here are 5 tips to start writing for your financial blog:

  1. Decide on a topic or pen down your experience –

    At first, decide on what topic you want to write. You should choose a subject which you’re comfortable to write. After selecting a topic, you might need to select a sub-topic for your first financial blog post. For example, you may choose to write on “How to save money”; you may choose a sub-topic “How to save money on a vacation”. You can pen down your own experience as well, like, how you enjoyed your last vacation on a budget.

  2. Never compromise with quality –

    Being a blogger, your most important job is to make your readers interested towards your posts. Therefore, always write good quality informative content. It is your duty to satisfy your readers by providing useful information.

  3. Upload posts in regular intervals –

    When your readers will get good information, they’ll wait for your new posts. So, it is better to be consistent with your blog posts. Initially, you can post one article per week, but it’s better if you select a particular day on which you’ll post your new article. However, it may not be mandatory to post on that day itself. The idea is to have updates on regular intervals.

  4. If possible, write on current topics –

    You need to update yourself regularly on news and current happenings, so that you can inform your readers about the same. If you do this, your readers will be hooked towards your blog.

  5. Read and comment on other personal finance blogs –

    When you read other blogs, leave a comment regarding what you felt about a post. They will come and check your blog posts, too. You can also give links to other blogs, which you like, and there are chances that they will also give a link to your blog. This way, you can have a number of readers directed to your write-up.

Some more tips…

  • Give an attractive keyword-specific heading
  • Mention the number of years you’ve been in the industry
  • You can tell about your achievements
  • Break your article into short paragraphs
  • Make your content easily scannable
  • Readers enjoy FAQ (Frequently Asked Questions) articles
  • Write short posts unless you’re providing meaningful information

So, what are you waiting for? It’s time to pen down your thoughts… Happy blogging!

Categories: Finance