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What are you giving up to save money?

September 6, 2008

With necessities such as food and gas taking bigger
bites out of your budget, are you forgoing some little luxuries that previously you never worried about?

There is, of course, the cliche half-caf soy latte, but you could be buying store brands (aka private label) cereals or simply not going out, either for a meal or a movie.

Chocolate_candy_bar2
Marketplace, the American Public Media program that airs on NPR stations nationwide, found one Minneapolis business owner who is betting
(hoping) consumers won’t let the sinking economy beat their love of
chocolate. You can listen to the story, or read the transcript.

But almost $7.50 for a candy bar? Is that before or after the snack tax that a lot of jurisdictions tack onto some edibles? Either way, that chocolatier is relying on a lot of cocoa love!

That price makes my weekly Frappucino look reasonable. And yes, for now I’m still picking one up after I finish my regular weekly grocery shopping.

Have you given up some little luxury, at least for now, to save a few bucks?

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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Comments
  • I didn’t really give up my starbucks habit I stepped it up. My wife got a part time job at Starbucks to get out of the house and get a few hours a day away from our 2 year old. Everyday she brings me a coffee home which she gets as part of her daily allowance and each week I get a free bag of coffee 😛

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