339 Strategies To Save Money & Lower Your Taxes!

This booklet contains 339 strategies which may play a key role in helping you get out of debt, learn financial planning lessons, understand stewardship, generosity and manage your money better.

Do you have a financial plan?

If you don't have a financial plan you need one. If you do have a financial plan you need to review it on a regular basis. Either way, this booklet will likely save you money and more importantly give you ideas that you can develop in your own financial plan.

It is worth repeating, everyone needs a financial plan and the root of a good plan is to create a "Spending Plan". Along with your spending plan you will benefit from many of the practical and common sense ideas you find in this booklet. You'll want to read it several times because with each reading you will likely find another gem of an idea that you can develop in your own financial planning review.

Here is a sample of a few of the practical stewardship ideas contained in this perfect financial planning booklet.

1. The purpose of a spending plan is to provide a guidance system to send out an alarm signal if you are headed in the wrong direction. A proper spending plan provides flexibility and the ability to handle unforeseen emergencies. It needs to be simple and easily maintained on a weekly basis, and, in less than fifteen minutes. Avoid making the plan overly complicated.

2. Guard your PIN and look carefully at the ATM before you insert your card. People committing fraud build new ATM covers and place them on bank machine to get your card number and PIN.

3. You should not give anyone your PIN number for any account or Internet file - NEVER!

4. As you approach retirement, be sure your funds are not locked-in for long periods. This will give you the opportunity to move to better investments should you decide you want to make a change.

5. Set aside a regular amount from your salary for investment. The amount of money is not as important as the benefit gained from contributing on a regular basis to the fund. Additional money for this fund might be found from increasing income and/or decreasing expenses.

6. If your income fluctuates combine your registered retirement savings plan deduction with next year’s deduction if you anticipate earning a higher income in the second year.

7. If you are facing early retirement, best to try and negotiate your current employee benefits as part of the package. Many employers will continue the benefit package until your age 65.

8. A reverse mortgage permits the elderly homeowner to withdraw part of the equity from the home to provide tax-free income, usually on a regular series of payments. Since this money is not normally paid back during your lifetime and it will deplete your equity, this plan requires careful research before making any final decisions.

9. It is possible to give an asset to your favorite charity and retain a life interest in the asset. You receive a tax receipt and you continue to use or enjoy the asset. At your death, or when you no longer want the asset, the charity can sell it and use the money.

10. Canadian residents aged 18 or over can contribute up to $5,000 per year to a Tax-free savings account, beginning in 2009, with unused contribution room being carried forward. So, using this account with other investments may be a smart way to manage some extra money which you.

11. A small degree of income splitting can be achieved by having the spouse with the higher income use their income for normal living expenses and the spouse with the lower income use this income for investment. Being that the spouse with the smaller income may be in a lower tax bracket, the taxes paid will be less on the earned income.

12. Claim all costs associated with holding investments. Such costs may include, fees for safety deposit boxes, investment counsel fees, brokerage fees, charges for payroll deductions to purchase bonds.

13. Did you know that American teachers and their aids could deduct up to $250 if they spend that money on books or classroom supplies.

14. Another sweet deduction for our American neighbors involves student loans. Now a student loan paid by the parents is deemed to flow through the student and the student who is not claimed as a dependent can deduct up to a limit of $2,500 of student loan interest.

15. While we are talking about charities, any out-of-pocket expenses you incur such as driving, buying office supplies, stamps or food ingredients for a soup kitchen are all tax deductible and you can receive a tax receipt for your contribution.

16. In America if you were to host a charity event in your home, any expenses that are not reimbursed by the charity are considered a donation and you are entitled to a tax receipt.

Well, I think you get the idea of how this booklet can help you. From the 339 strategies there are bound to some that will recover your investment is this booklet ten times over. If you are interested in financial planning success then you should order this book and download it right now.

Financial planning is important and everyone needs to have a financial plan. A financial plan is the only way you can measure your progress and determine how far you have come.

You can download this helpful tool and begin applying several financial planning and stewardship principles right now.