Filing income tax forms has never been a particularly pleasant task. But it’s much easier today than it once was. There was a time when our only options were to file on paper and do all of the calculations ourselves, or haul mountains of paperwork to an accountant and pay him lots of money to file our taxes.

Electronic filing, also known as e-file, has made tax preparation much simpler. In the beginning, it was only used by tax preparation professionals. But today, we can use e-file to file our taxes online. We must still go through a third party provider, but filing electronically is cheaper and easier than paying someone to do all the work.

By definition, e-file is a method for submitting tax returns. It involves putting the information from the return into a standardized format and transmitting it electronically to the IRS. The IRS checks the return, and if approved, sends the state portion to the filer’s state. If the return is rejected, it notifies the e-file provider of the problem so that it can be rectified before processing continues.

How to E-file

The average taxpayer can’t directly e-file a return with the IRS. He must have his taxes prepared and e-filed by a professional or use software from a third party vendor to prepare taxes on a computer. This software may be installed on the user’s computer or used online via the vendor’s website.

Prices for e-filing vary. If using a traditional tax preparation service, the cost of e-filing is added onto the customer’s bill for the service. When doing taxes using software from a third party vendor, e-filing is usually included in the price of the software. Some taxpayers qualify for free online tax preparation and e-filing through the IRS’s Free File program. Check the IRS website to find out if you qualify.

Advantages of E-filing

E-filing offers several advantages over paper filing. These include the following:

* E-filing leaves less room for error. When you file online or with IRS-approved software, all of the calculations are done for you. That means that there should be no mathematical errors in your return.

* Returns that are e-filed are processed much faster than those submitted on paper. If there is an error, you will be notified of it quickly. Otherwise, your return will be processed in a fraction of the time that it would take otherwise.

* You can get your refund faster. If you request a check, it will be mailed out sooner than it would if you filed on paper. If you have your refund direct deposited into your bank account, you can get it in as little as two to three weeks.

* You don’t have to worry about whether or not the IRS and your state tax authority received your return. You will receive confirmation of receipt within 48 hours of filing.

When it comes to income taxes, e-filing is one of the greatest innovations ever. It has made it less expensive and more convenient for the average person to file taxes while helping the IRS process returns more efficiently. If you’ve never e-filed, give it a try the next time you file your taxes. You’ll be glad you did.

Originating post: What Is E-file and How Does It Work?

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If you’ve ever had credit in your name, there’s a good chance that you get credit card offers in the mail regularly. Some charge interest rates so ridiculous that it’s amazing they’re still in business. Others offer deals that seem too good to be true, such as 0% balance transfers.

Zero interest deals do exist, though. In fact, they’re pretty common. Credit card companies offer such deals because they provide an incentive for those who already have credit card debt to get one of their cards. But should you take the bait? Here are some points to consider when making that decision.

Pros

Zero interest is almost certainly a better deal than you’re getting with another card. Even if it’s only for a limited time, it could save you quite a bit of money. As long as the non-promotional interest rate is the same as or less than your current card, you should come out ahead.

If you’re planning to pay off your debt, transferring your balance could allow you to do it more quickly. Instead of contending with compound interest until you finally get it all paid, you can put the entire amount of each payment toward the principal.

Having another credit card account reduces your outstanding debt to available credit ratio. This is good for your credit rating, and can help you get lower interest rates on mortgages and other types of loans.

Cons

For those who already have too much debt, getting another credit card could be a bad idea. That paid-off credit card might look like an open invitation to charge. If you accept that invitation, you could end up with much more debt than you had to start with.

Zero interest doesn’t necessarily mean free. Most cards charge a fee each time you transfer a balance. These fees are usually a fraction of the regular interest rate, but if you transfer a large balance it could add up to a lot of money.

Some cards that offer 0% balance transfers make up for it by charging high fees for other things. They may jack up your interest rate if a payment is late or returned by the bank, or they could charge high annual fees. Be sure to read the fine print, because they are required by law to disclose such things.

Transferring a balance to a zero interest credit card can save you lots of money. But if you just charge up the original card again, you’re worse off than you were to start with. Even if you don’t, fees could add up to more than you realize. Before you accept that balance transfer offer, make it a point to do some research.

Originating post: Can Transferring Your Balance Save Money?

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When it comes to entertainment, live events are a favorite of many. Some enjoy a night at the theatre. Others like to go to concerts and see their favorite bands. But in either case, tickets can be very expensive.

The face value of theatre and concert tickets is high enough to turn away some potential eventgoers. If that doesn’t deter you, there’s a good chance that the fees tacked on to the ticket price will. These fees can add 20% or more, sometimes much more, to the total cost of admission. It’s enough to make you want to just stay home.

But if you have a passion for theatre or can’t bear the thought of missing a concert from your favorite band, all is not lost. There are ways to save money on tickets to live events. Here are a few suggestions.

* If it’s not a blockbuster event, consider waiting until the last minute to purchase your tickets. Venues often sell tickets to events that have not sold out within a few days of the show at a fraction of normal prices. You probably won’t get the best seats in the house, but you could get a spectacular deal on decent seats. Sign up for the venue’s email list to be the first to know about such deals.

* Look for tickets online. Sometimes you can find great deals on tickets that people have bought and later found out they won’t be able to use. Unlike scalpers, these individuals are usually just looking to recover a portion of their investment, so they price the tickets low in an effort to sell them quickly. A good place to look for these types of ticket sales is Craigslist. Some ticket websites also have a marketplace in which members can buy and sell tickets from one another.

* Join your favorite band’s fan club. There will probably be a membership fee, but members often have access to advance ticket sales. You could get front row tickets or even backstage passes for much less than the general public would pay.

* Look for ways to avoid fees. You can avoid booking fees by traveling to the box office to buy tickets in person. This may not be practical if the venue is far away, but it should be no problem if it’s nearby. You can avoid card processing fees if you go this route as well by paying in cash.

Seeing that critically acclaimed show or hotly anticipated concert is something to look forward to. Don’t ruin it by paying too much for tickets. By finding ways to save money, you can have more left over for souvenirs to commemorate the great time you had.

Originating post: Theatre and Concert Tickets Cost Cutting

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Investing in energy-efficient appliances not only benefits you, the consumer, but it also benefits the environment. Here are just a few of the advantages to investing in greener appliances:

* Lower utility bills

Because of federal regulations, newer appliances are less expensive to run than older ones. Consider refrigerators – according to the American Council for an Energy-Efficient Economy, a typical refrigerator with top-mounted freezer made in 1990 uses twice the energy of a modern refrigerator. Thus, replacing old appliances with new, energy-efficient ones will save you money and help finance the appliance. In the case of dishwashers and washing machines, the newer models not only use less electricity but they also use less water.

* More money in your pocket

In these uncertain economic times, being able to keep more of your hard-earned money is a definite advantage. While the purchase of a new, energy-efficient appliance will probably be a significant expense, it will pay for itself long before its average lifespan (15 years) is over. Also, there are federal tax credits available to green consumers, according to energystar.gov.

* Support of energy-efficient manufacturers

When you spend money on an energy-efficient appliance, you are helping to secure the future of the company that manufactured it. The consumer dollar speaks, and this sort of purchase sends a message to other manufacturers to produce more energy-efficient models. As the demand increases, the supply will also increase, and ultimately the price for such appliances will come down. Your purchase helps ensure that these appliances will be available and affordable in the future.

* Less use of fossil fuels

Fossil fuels such as coal are burned to make electricity, and these fuels will not last forever. We are, however, still dependent on them as our primary source of energy. As researchers continue to seek alternative energy sources, you can help “buy us some time” by investing in appliances that require less energy, and thus use less fossil fuel.

* Fewer emissions and less pollution

The burning of fossil fuels to make electricity produces emissions and pollutants, such as sulfur dioxide and carbon dioxide. Sulfur dioxide is a by-product of burning coal, and when it rises into the atmosphere it mixes with moisture and forms acid rain. High levels of carbon dioxide in the atmosphere have been implicated in global warming.

In fact, the Environmental Protection Agency officially declared fossil fuel emissions a health threat this past April. If your appliance uses less electricity, then it is ultimately using less fossil fuel, and that means fewer emissions, cleaner air, and a more stable climate.

When you decide to make your purchase, look for the yellow EnergyGuide that is required on every new appliance. This will tell you exactly how much energy the said appliance is expected to consume. You can fully expect that your household utility bills will decrease, and your peace of mind will increase ? because investing in energy-efficient appliances is an investment in the future.

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The teenage years are a time of transition. Teens are no longer kids, but they’re not quite adults, either. They still have the carefree attitude of childhood, yet they are also becoming mature enough to do many things for themselves.

One of the biggest decisions for teens and parents to make together is whether the teenager should get a job. The money earned can help pay some of the teen’s expenses, such as transportation, clothing, lunch money and cell phone bills. It could even be used to help pay the family bills. But there are some things to consider before filling out those applications.

Pros

Earning their own money helps teenagers develop responsibility. They learn first-hand that it takes hard work to get the money needed to buy the things they need and want. This is a very important lesson for anyone.

A job will help your teenager develop good work habits and skills that will help them in future employment. The types of jobs that are available to high schoolers might not be what your child wants to do as an adult, but good work habits translate into any career. And there are certain skills (such as handling money) that are beneficial in many jobs as well as everyday life.

Having a job can help develop self-confidence. Bringing in an income makes teens feel good about themselves. That self-confidence helps them be more secure in making good decisions, and it can help them reach goals such as getting into their college of choice.

Cons

Working too much can be detrimental to a teenager’s performance in school. Students may not have as much time to spend on their homework, causing them to rush through it and do only what they must to get by. They could also become less interested in school when they realize that they can make money without a high school diploma or college degree.

Work could cut into time for extracurricular activities. Sports are good for teens’ health, and clubs can keep them active in their communities. But when they get jobs, they may ditch these activities in favor of working.

If they don’t budget their money, teens could develop poor spending habits. The money they earn from working will probably be substantially more than they received for allowance. They could easily get carried away with it, spending it on designer clothes, music and other non-necessities instead of taking care of their needs and saving a portion of their earnings.

Allowing your teenager to get a job is a big decision, and one that should be made on a case by case basis. If you feel that your child is mature enough to take responsibility for earning and budgeting his own money and still keep his grades up, it might be worth considering. Teens with jobs can be a big help to the family budget, whether they contribute to household bills or just buy their own necessities.

Originating post: Should a Teenager Get a Job to Help With the Family Budget?

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When you were young, did your parents ever tell you that money doesn’t grow on trees? Have you found yourself repeating that mantra to your own children? It’s hard for kids to understand what it takes to make money, because they rarely have to earn their own. And when they’re teenagers, the allure of the latest fashions, newest electronics and other things that all the other kids seem to have makes them even more eager to spend, spend, spend.

The teen years are prime time for learning about the ins and outs of the almighty dollar. This is a time when kids become more interested in material things. It’s also a time when they can begin to work and earn some of their own money. But perhaps most importantly, it’s a time when they will soon be on their own and making financial decisions themselves.

It’s critically important for teenagers to learn about money and how to manage it before they leave home. Here are some things we should strive to teach them.

* Teens need to learn the difference between needs and wants. This can be a fine line for adults, and it’s even more confusing for teenagers. They need clothes, but they don’t really need those expensive designer jeans. Helping them learn to distinguish wants from needs is an important life lesson.

* Budgeting is crucial. Even teenagers should have a plan for how they will spend their money and stick with that plan. That doesn’t mean they can’t have any fun with it, just that they need to prioritize their spending so that the important stuff is taken care of first.

* A penny saved is a penny earned. This old adage is one that can make our lives much easier, and it’s best learned early. Teens should be taught about the benefits of saving, such as earning interest, having money in case of an emergency and being prepared for retirement.

* Don’t borrow too much money. Using credit responsibly helps us build up a good credit rating so that we can easily buy things like homes and cars. Using it irresponsibly leaves us saddled with debt and a poor credit rating. It’s important to learn this early in life rather than late.

* Taxes are a fact of life. Teens often feel that having taxes taken out of their earnings is unfair (as do some adults). It’s important for them to know why those taxes are taken out and what they pay for. It’s also a good idea for them to learn how to prepare their taxes correctly, either by hand or with software.

Learning about money the hard way can be quite painful. Taking the time to teach your teenager some important lessons could prevent him from making some big mistakes as an adult. He might not particularly enjoy it right now, but one day down the road, he will thank you for it.

Originating post: Things All Teenagers Should Know About Money

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One of the first things that kids learn about money is that you can use it to buy things. We rarely have to teach them this, because they learn it from being with us when we go shopping. But they are usually unaware of most of the aspects of money we take for granted.

Parents often make the mistake of thinking that preschoolers are too young to understand financial matters. It’s true that kids that young won’t understand compound interest or mutual funds, but there are some things they can learn about money that will benefit them later in life. Here are some things that we as parents can teach our kids at a young age.

* Preschoolers can learn about the different denominations of money. They may not remember that there are 100 cents in a dollar, but they can usually recall which coins are worth the most and least. Learning a little about this before they start school will give them a head start in math.

* You can teach the basics of bank accounts. When kids see us writing a check or swiping a card and taking something home, they may think we got it for free. Teaching them that you have to have money in the bank in order to write a check or use your debit card will help them understand that the things we need in life come at a price.

* Preschoolers are not too young to learn about earning money. You can assign chores and pay them a certain amount for each one completed to illustrate the concept of working for money.

* Saving money is an important lesson for kids to learn young. You can help instill the importance of this by encouraging them to save a portion of their allowance. After they have saved for a few weeks, help them count up how much they have and decide what to do with it. Or better yet, have them set a goal for savings and see how long it takes to reach it.

* Shopping provides a wealth of opportunities to teach kids about money. You can discuss how to save money by using coupons and buying things while they’re on sale. You can set a budget and see how much you can buy with it. And you can let them help you count the money when it’s time to check out.

Small children catch on to the importance of money quickly. We can help them develop a healthy attitude toward it by teaching them basic concepts and modeling good spending and saving habits. This will build the foundation for a lifetime of good money practices.

Originating post: Things You Can Teach Your Preschooler about Money

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In today’s world, it’s difficult for many two-parent families to make it. For single parents, finances can be a nightmare. It’s hard enough trying to balance child care and find a way to earn enough money to keep food on the table and a roof over your family’s heads. But you also have to stretch your dollars to buy clothing, pay for transportation, and much more.

Children of single parents often find it hard to understand why they can’t have all of the things that other kids have. It’s especially hard on kids whose parents have recently divorced, or those with a deceased parent. Not only have they lost a parent (either part-time or permanently), they have also suffered a decrease in their standard of living.

As a single parent, it’s important to keep your kids in the loop. Here are some tips that will keep the kids happy while keeping spending low.

* Sit your kids down for a nice, long talk. Explain to them that now that the household has less income, there will have to be less spending. Let each child know that he is not the only one who less money is being spent on, and assuage any concerns that all parties are not being treated equally.

* Draw up a detailed budget. Get the kids involved as much as possible so that they know their opinions are important. Include all necessities and monthly bills, and allocate as much as possible toward paying off debt. Put some in savings if there is any way you can do so.

* Discuss how you will handle allowances. Assigning chores and paying a certain amount for each one will give you some help around the house while teaching children how to earn money.

* Encourage the kids to save a portion of their allowance each week. This can be used for school trips, extracurricular activities and other optional things. Not only will it prevent money in the budget from being tied up in these things, it will also teach the kids the importance and benefits of saving money.

* Find creative ways to come up with extra money. If the kids want something extra, help them have a yard sale. They could sell clothes and toys they’ve outgrown. Or you could help them start an age-appropriate business such as a dog walking, car washing or babysitting service. These projects will help the kids earn their own money and allow them to have things that they would otherwise have to do without.

Being a single parent often seems like an impossible juggling act. Keeping the finances in order alone can be difficult, and it’s even harder when the kids don’t understand why money is so tight. Keeping them informed and allowing them to help can prevent arguments and save hurt feelings on both sides.

Originating post: Money Strategies for Single Parents

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There is something appealing about being off the power grid and running your electrical appliances with your own solar panel kit. But do these kits really save money? And what do you do when the sun isn’t shining? A lot depends on the kind of solar power kit you choose, how much of your household or building you want to have powered by solar, and how much you’re willing to do yourself.

There are two main types of solar panel kits available for home use: solar thermal and photovoltaic. Solar thermal is basically a water heating system that uses sunlight to heat water for the occupants’ use. Since the hot water heater uses more electricity that most other household appliances, implementing a solar thermal kit would eventually pay for itself in lower electric bills.

Photovoltaic systems convert sunlight directly into electricity to supplement or replace traditional electrical power from a local grid. If you go this route, you will save more per month due to all appliances being run by solar power. However, it is initially more expensive, and you will want to purchase a battery to store excess energy for use when the sun is not shining.

The average cost of these kits varies. Generally, a decent set of do-it-yourself instructions can be purchased for around $50, and the materials can be purchased for under $200 at the average hardware store. Some companies, such as earthforenergy.com, offer kits for under $200. Other companies will give you a list of materials you need.

If you are willing to search, it’s likely that most materials can be found in your own workshop or a neighbor’s, or from other sources, such as your local highway department. They often have an accumulation of damaged solar panels that they might be willing to give away. Hiring professionals to provide materials and do the installation is drastically more expensive, reaching into the $1000s.

Besides lowering utility costs, there are other ways that solar panel kits can save or even make money for you. Many state governments offer significant tax breaks for those who switch to solar power. Also, if your system generates excess electricity, you may be able to sell that to your local power company. And once you know how to build and install a solar panel kit, there is potential for you to make money doing installation for others.

With the money you save or make, you can buy more energy-efficient appliances or do other home improvements. You could save toward a vacation, or invest in other green technology. Solar kits require little maintenance and last for years, so there won’t be annual or seasonal upkeep expenditures either. Overall, there is much to be said for the savings that can be incurred by using solar power.

Originating post: Solar Panel Kits and How They Can Affect Your Budget

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Health is one of the most important factors in our quality of life. Being wealthy and having lots of friends are great, but if you’re in poor health you can’t enjoy these things nearly as much as you could in good physical condition. That’s why it’s so vital for us to look after ourselves.

Exercise is essential to a healthy lifestyle. Diet is also critically important. But even with the healthiest of diets, it’s difficult to get all of the vitamins and minerals we need. Fortunately, these are available in supplement form.

Vitamins are very beneficial to our bodies, but they can be hard on our budgets. There are, however, ways to save money on them. Here are a few tips:

* Shop around. Prices on vitamin supplements vary somewhat from retailer to retailer, so comparing prices can save you money. It’s generally best to stick with one store if you’re shopping locally to save gas, so try to find the one with the best overall prices.

* Consider shopping online. There are lots of online vitamin retailers to choose from, and you can compare prices without leaving home. Low overhead costs mean that you’ll often pay less than you would at a bricks and mortar establishment. You will have to pay shipping costs if you buy online, but in most cases it will be cheaper than buying gas to drive to a local store. And some online retailers offer free shipping deals.

* Keep an eye out for sales. Both online and offline retailers have them from time to time. If you find a great deal on a supplement you use, stock up on it. Just make sure you’re not buying so much that the expiration date will arrive before you use them all.

* Read up on the brands you’re buying. It’s great to get a good deal, but some vitamin manufacturers make products that aren’t up to snuff. You may have to pay a little more for a different brand, but if it’s better for your health it’s worth the extra cost.

* Find a good multivitamin. Multivitamins cost more than individual vitamin supplements, but they pack most of the vitamins you need into one pill. Buying one bottle of a quality multivitamin is much cheaper than buying a bottle of each of its components, not to mention they’re more convenient to take.

* Know your priorities. Some people take lots of different supplements for various reasons. If you’re on a budget, choose two or three that are the most important to take. If you need help choosing, ask your doctor or nutritionist.

A tight budget shouldn’t stand in the way of good health. By following these money-saving tips, you can get the vitamins your body needs without going broke.

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