Taxes
Taxes can be a pain. Luckily, there are some creative ways to legally hack your taxes every year. What are some of your favorites?
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Book Club👍❤️Any in particular that you'd recommend? Let us know below!
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Saving MoneySaving has become more important than ever before in 2020. What are some ways that you've been able to hack your savings accounts this year?
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Stock Market InvestingWhat stocks are you choosing and why?? What's your long-term plan look like?
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Topic Reply👍Hello 🙂 The Intelligent Investor by Benjamin Graham The Little Book of Common Sense Investing Stock investing for Dummies.pdf Security Analysis by David Dodd and Benjamin Graham
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Saving MoneyWe've all heard tricks like paying yourself first, but what's one super unique thing that you routinely do to save more money every month? What's your #1 budget hack!?
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Topic ReplyGreat list @Bee ! We'll definitely have to check them out. What are some of the ways these big helped you specifically? Did they financially inspire you, or did they give you a more technical understanding about money etc.?
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Topic ReplyOne thing that recently helped me start saving more money for my savings and investing funds is by setting up direct deposit of my paycheck to my various bank accounts and then only including the money meant for spending in my budget. So following the 50/30/20 plan that Jaspreet has recommended in some of his videos; I was able to designate 50% of my paycheck to my checking account, 30% to my investment account, and 20% to my savings. Then I build my budget off of the 50% in my checking...
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Topic Reply👍One Up On Wall Street by Peter Lynch An easy read that provides the basics of investing. Can you get the same info on a 15 minute You Tube video ? Yes, but Lynch explains it in such a way that you understand and retain what he is trying to tell you.
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Topic Reply@jmaschak Everyone learns differently! Books are better for some, others prefer videos. Great suggestion though, we'll have to check it out! 😁
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Topic ReplyIt was very easy to stick to the budget while everything was shutdown since there was nothing to spend money on but ever since things have started opening back up it has personally never been more difficult to stick with it, at least as far as the budget for eating out goes! I have definitely exceeded the amount of money that I designated for eating out the past couple of months because besides going on multiple walks everyday, going to get food is the only time I get out of the house.
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Topic Reply@Landon Martin I love the auto deposit idea! One of the best ways to go about your saving/budgeting is staying organized and using certain plans and aspects to your advantage. Has the pandemic affected your budgeting at all? (Has it made it easier, better, or harder to stick to?)
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Topic Reply👍@Landon Martin It's definitely been tougher due to the rising prices at the grocery store. As to how to return back to normal: We'll have to wait and see what things look like when they actually do return back to normal, but we actually recently published an article on things you can do to pass the time during this pandemic not too long ago (don't worry, there's some options for going out of the house on this list, too). Hope this helps! https://theminoritymindset.com...ys-to-pass-the-time/
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Book ClubI want to know the one BURNING question that you have for your favorite finance/money management author? If you could ask them any question you wanted, what would you ask and why?
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Topic Reply👍Don’t have a book. But how to handle emotional spending.
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Topic Reply💯👍Atomic Habits (James Clear) Money Master The Game (Tony Robbins) The 10x Rule (Grant Cardone) Outliers (Malcolm Gladwell) @Bee - thank you for the list shared above too. Will definitely have a look at those.
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Topic ReplyThe question that I would most like to ask is just "What is one piece of information that you wish you could add to or remove from the book?". I know a lot of authors will often release new editions of their books to update the information to fit their current ideas, but it would be interesting to me to see how their ideas have changed over time.
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Topic Reply👍I have not read these, but I just got them. I have seen a lot of recommendations for them so I shall pass them on to you. 1. The richest man in Babylon 2. The Bogleheads guide to investing 3. The intelligent investor
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#SpendingDetox❤️Spending during the holidays: Year after year, the holidays slowly shift from joyful winter glee, to a race to see who can spend the most money. Retailers all vying for your attention, with bargain gifts abound, and who can forget a present for your step-mom, cousins, siblings, friends and the pup or kitty. It's no wonder why people feel drained and spent come January 1st! But, what if there was a better way to keep more money in your wallet this holiday season, without losing any of that...
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Topic Reply👍Profit First, Go For No, Networking On Purpose, Forever Employable.
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Topic Reply👍Adding One Up on Wall Street by Peter Lynch. A good intro into fundamental investing and how to do it. By far the most helpful book on investing I have read thus fa and definitely worth the $20
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Topic Reply@Nathan_Gregory For me it would be: Depreciation from rental properties Tithing/donating at my local church. 401K
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Topic Reply👍The Millionaire Next Door by Thomas J Stanley and William D Danko
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Topic ReplyIf [you are not in immediate need] save your stimulus money. It's a quick and easy way to build that first 1-2K short term emergency fund. This decision will be worth the sacrifice.
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Topic ReplyI spent 3 months at my parent's home during the first and the second hard lockdowns that we had in Italy. My side hustle became babysitting my 2 years old niece, so my brother also saved something.
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Topic Reply👍8 Steps to 7 figures by Charles Carlson. Best book I've read on the subject so far.
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Topic ReplyIt is better to check the list of writer on Wikipedia because the most of the writer get the Wikipedia page creation service to promote or let people to know about them or their book
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Topic ReplyWorld-famous Authors are all on Wikipedia if we have anything to know about them we just need to click on google and type the best writer, we get the result but what about the writer who has written a beautiful book but nobody knows about them it is better to promote your work so you will get the best result, 1st look for custom Wikipedia page creation service , who can help you in the creation of your 1st Wikipedia page
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Topic ReplyAny book can give you the idea that changes your life, sometimes some celebrity did his or her Wikipedia Page Creation that attracts lots of people some of them decide to make their like them and then they start work on it
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Topic ReplyDid I miss it in the reply but Jim Cramer’s Mad Money
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Topic ReplyI know it is not a book, but I think the first 4 videos of this series do a great job to explain what money is: https://www.youtube.com/playli...jJkeeLL2O09eJoC8r7Dc and https://www.youtube.com/channe...EznhW_CNFcfOlyDNTLLw Minority Mindset's Youtube channel will get you the rest of the way.
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Topic ReplyYou can get your taxes done for FREE instead of paying a firm if you are a qualified taxpayer. In Canada, there is the Community Volunteer Income Tax Program (CVITP). Community organizations host free tax clinics where volunteers file tax returns for eligible people. Guidelines in most provinces are for individuals earning up to $35K, a two person family up to $45K, and so on. (see details: https://www.canada.ca/en/reven...ome-tax-program.html ). In the U.S., the IRS's Volunteer Income Tax...
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Topic ReplyAlso, the FREE tax programs I mentioned in my previous post are always looking to find new volunteers and they provide FREE tax training where you will likely learn a few more hacks to save money on taxes, as per your opening question. Having gained experience completing taxes will look good on a resume too if you are looking to pursue a career in business or finance. Lastly, but equally important, it will also give you a great feeling at having helped others who may not be in as stable a...