Category: Tip of the Month

Giving to charity is good for a couple of reasons. First, giving to organizations you believe in is intrinsically good – for them and for you. When we give, the “love hormone” oxytocin is released. Second, giving can reduce your taxable income, which also might make you feel pretty good. But here are a few things to know before you start doling out your cash.

Make sure you give to an IRS-recognized charity. More specifically, it must be a tax-exempt organization that is defined by section 501(c)(3) of the Internal Revenue Code, which includes entities like religious organizations, the Red Cross, nonprofit educational agencies, museums, volunteer fire companies, and organizations that maintain public parks. Most importantly, you must not have received anything in return for your gift. So before you give, make sure you verify your organization with this handy IRS tool. It’s super important to do this before you donate, and be sure to ask how much of your contribution will be tax-deductible. This is key.

Gifts to family and friends don’t count. As much as you’d like to gift perhaps a worthy nephew, these amounts are not tax-deductible. In fact, if they exceed a certain amount, they could be subject to a gift tax.

Deductions have a cap. Generally, you can deduct up to 60 percent of your adjusted gross income via charitable donations (for cash donations). That said, you may be limited to 20 percent, 30 percent or 50 percent, depending on the type of contribution and the organization. Examples of limited contributions include non-cash gifts, private-foundation gifts, etc. This deduction limit applies to all the donations you make during the year, no matter how many organizations you give to.

Exceeding your limit. If you go over the 60 percent limit of your adjusted gross income, the amount can be deducted from your tax returns over the next five years, or when the money’s gone. This process is known as a carryover. Good news for those who are generous.

Deductions for non-itemizers & itemizers. Specifically, for the 2025 tax year (taxes that are due by April 15, 2026), you’ll have to pivot and itemize to deduct your charitable contributions and get the tax break.

But for the 2026 tax year (taxes due April 15, 2027), the rules change for both types:

• If you don’t itemize on your tax return, you can deduct up to $1,000 (single) or $2,000 (married filing jointly) in charitable contributions. This means you can take an above-the-line deduction for the 2026 tax year on the tax return that you’ll file in 2027.
• If you do itemize on your tax return, you must donate an aggregate total of at least 0.5 percent of your adjusted gross income to charity to claim the deduction. Only the portion of your total charitable donations that exceeds 0.5 percent is deductible.

Making sure you follow these guidelines will ensure that you can realize your well-deserved deductions and tax breaks. If you have other questions about charitable giving, consult your tax professional. They’ll know all the ins and outs of charitable giving and keep you secure moving forward.

Sources

Tax-Deductible Donations: 2025-2026 Rules for Giving to Charity – NerdWallet

For some of us, last-minute holiday shopping is just what we do. That said, it’s probably never fun, and two things invariably seem to happen: The gifts you want aren’t available, and you end up paying too much. That’s why shopping in November to get the best savings on what you want just might be the right thing to do this year. Here are a few sales dates to put on your calendar.

Singles Day, November 11. Originally started in China as a humorous “anti-Valentine’s Day” event, it’s become one of the biggest shopping days of the year, surpassing Black Friday and Cyber Monday. To top it off, the date, 11/11, was chosen because it symbolizes, you guessed it, four ones – aka singles. On this day, you can find huge discounts at a lot of high-end clothing stores like Athleta, Nordstrom, Lululemon, Abercrombie & Fitch, Madewell, Neiman-Marcus, and J. Crew, to name a few.

Pre-Black Friday, November 20-27. Yes, there is such a thing, as if Black Friday isn’t enough in and of itself. Nevertheless, lots of retailers get in on this. This year, you’ll want to check out early access on holiday deals at Costco, Lowe’s, Best Buy, as well as Kohl’s, GameStop, and PetSmart. You can find other merchants who offer deep discounts here.

Black Friday, November 28. It’s probably the most famous shopping day of the year, where you’ll find huge price cuts across all categories. If you’re into tech stuff, head to Apple, AT&T Wireless, Dell, Google, HP, Lenovo, or Micro Center to start. The big box places to hit are Walmart, Target, and Sam’s Club. For home goods, you’ll find savings at Bed, Bath & Beyond, Ashley Furniture, and Crate & Barrel. If you want a comprehensive list, go to blackfriday.com. (See? There’s even a website dedicated to this day!) But get ready to scroll because there’s a lot there.

Small Business Saturday, November 29. Originally launched in 2010 by American Express, this day is all about shopping at your local stores. So hit your neighborhood shops, markets, coffee shops, and boutiques to support your friends and neighbors. If you don’t know where to start and don’t have a lot of time, just Google “small business Saturday sales near me” and you’ll be good to go.

Cyber Monday, December 1. To cap off all the November savings, you can’t forget this day. And yes, it’s not technically in November, but that’s OK. This date is great because you can let your fingers do the shopping. Online-only offers are king, so hunker down and start searching. Some places with the biggest deals are, again, (and not surprisingly) Amazon, Target, and Walmart – the big three. For more price-cutting goodness, go here.

Life gets busy around this time of year, but if you take a moment, get your list and hit a few of the aforementioned stores, you’ll be way ahead come the holidays. And that just might be the best gift of all.

 

Sources

Holiday Shopping Calendar: Key Discount Dates 2025 | GiftList Blog | GiftList

https://giftlist.com/blog/holiday-shopping-calendar-key-discount-dates-2025

What if you could lower your grocery bill without giving up the things you love, fight inflation, and have some money left at the end of the month? Sounds too good to be true? It’s not. It’s the Half Rule. This means cutting the amount of product you use in half and seeing what happens.

Truth is, most of us probably use too much of the things we love. Here are several reasons why:

• Manufacturers often ask you to use more of the product than you need.
• You’ve probably gotten used to using a certain amount of a product;
• And finally, product inflation. Specifically, you might think that if you get pleasure out of something, you might need to use more of it. For instance, why get a tall vanilla latte when you can get a grande, right? But ask yourself: Is it really that much better?

To this end, here are some things you can easily use half of and never miss the other half:

• Shampoo. Try using half the amount and adding more water, especially if it’s concentrated.
• Laundry detergent. Try a half cup. A little goes a long way, especially if it’s a small load.
• Dryer sheets. These are so easy to tear in half.
• Cooking oil. Use an oil mister instead of pouring it into your pan or skillet.  
• Restaurant meals. Eat half or a third and save the rest for another meal. Or better yet, split a meal with your partner, friend or work colleague. Bonus: you’ll also save calories.
• Bagels. Just eat half! Save the other half for your next snack or breakfast.
• Starbucks order. Try a tall. Or if you get a vente, try a grande. Give it a whirl. See what happens.
• Glass stovetop cleaner. If you use less, you might have fewer streaks.
• Tape. When you’re wrapping gifts, give string a try.

When you change a few things here and there, over time, you’ll really see the difference in your bank account. Also, imagine how nice it’ll feel not to have to buy these items so often. That’s a big change in spending.

The Half Rule is not for everything. While it works on so many things, there are some things you cannot to apply it to – like filling up your gas tank or cutting a prescription in half. Never do that.

Overall, it’s a good rule. And when you’re persistent over time, you’ll start to develop a habit – one that will help you see a difference quickly and save you money in the long run. It’s a ripple effect that might expand into other areas of your life. In sum, the Half Rule is so effective, you just might go all in – and stay there.

Sources

“The Half Rule” – A Frugal Hack I Live By

Life insurance is something most of us don’t want to talk about. But the truth is, no one gets out of life alive. So, it might make sense to face it now so that when you really need it, it’s there. Before you start looking for a life insurance policy, let’s dispel some of the untruths you might have heard.

Myth #1: It’s too expensive. According to a recent survey by Life Insurance Marketing and Research Association (LIMRA), 52 percent of people thought it was too expensive to have or get more of. And how did they come to this conclusion? They based this on their “gut instinct,” or a “wild guess.” Truth is, it’s more affordable than you think and varies from person to person. In fact, the estimated yearly cost of a $500,000, 30-year term insurance policy for a healthy 30-year-old, non-smoking female is $316.

Myth #2: It’s a pain to apply. Not true. Thanks to the pandemic, which caused us to eliminate or reduce human interactions (like getting a doctor’s exam for term policies), you can apply online. These days, all you have to do is answer a few questions on your phone. Easy peasy.

Myth #3: My company’s policy is enough. Maybe. The coverage you have might not be enough for your family. Here are some facts. The median workplace life insurance coverage is either just a flat sum of $20,000 or one year’s salary.Of U.S. households that rely on workplace life insurance coverage, 44 percent say their families would struggle financially in less than six months should a wage earner die unexpectedly. So, what to do? A simple guideline is this: Aim for 10 to 12 times your annual salary and bonus, but people who are younger (farther away from retirement) might need more. Folks closer to retirement might need less.

Myth #4: I only need coverage if I’m working. If you’re not employed outside the home – like if you’re a stay-at-home mom – it’s still important to consider life insurance. Typically, life insurance is considered a replacement for lost income. If something happens to the non-breadwinner, it could also be necessary to pay for childcare and household work in your absence. The most important thing is to plan your coverage together with your family in mind so that you’re both in the best position possible should one of you pass away.

Myth #5: I don’t need life insurance until I’m older or become a parent. Nope. In fact, not only do you not have to be a parent, but your beneficiary could also be your partner or anyone else who relies on you. And you can change your beneficiaries (you can have more than one), should things change. Plus, if you apply for life insurance earlier in life, you’ll save money on premiums. Why? Because one thing that factors into how much you pay – or qualify for coverage at all – is your health. As you get older, your risk for developing health issues increases. According to LIMRA, 40 percent of those who have policies wish they’d bought them when they were younger.

In the end, you’ll want to take care of those who depend on you – and those you love. That’s why knowing the truth about life insurance matters.

Sources

Myths about life insurance | Fidelity

If you’ve ever longed for a remote job but weren’t sure how to make it happen, then take note. Not only are all these jobs work from home (WFH), but they also provide training. Some even provide the equipment and steady hours right from the start. Whether you’re between jobs or want to switch careers, check out these positions. One of them could be a perfect fit.

Amazon Virtual Customer Service Associate

With this job, you’ll get three to four weeks of paid training before you even start working with customers. Pretty great, right? They also teach you how to manage orders and solve issues using internal tools. In fact, you’ll be provided with a desktop computer, a microphone, and a headset. All you’ll need is reliable internet. You’ll interact with everyone from customers and drivers to shippers and Delivery Service Partners. Best of all, there’s no script to learn; they encourage you to be your authentic self. The job offers part-time and full-time options, and roles are open year-round across many parts of the United States.

Apple At-Home Advisor

For Mac lovers, this is your dream job because guess what you’ll get with this job? That’s right: a Mac – plus other tools to get started. Your training will be remote and paid. During this time, you’ll be introduced to product support, the accompanying issues customers fac,e and problems related to their orders. If you’re up for dealing with people, then this job is for you. Many advisors stay long-term, thanks to strong internal mobility and a supportive team culture.

Dell Remote Tech Support Specialist

If you’re a PC kind of person and comfortable with tech, Dell’s paid training will help you troubleshoot issues for customers right from home sweet home. You’ll also enjoy solid benefits and receive discounts on devices and tools. Lots of people climb the ladder, moving up into engineering or systems roles after gaining on-the-job experience.

Hyatt Remote Guest Services Associate

Ever called guest services when you’re at a hotel? If so, then these folks are likely who you talked to. During your paid training, you’ll receive all the equipment you need and learn how to not only assist customers, but also uphold brand standards, which translates to just being a decent, empathetic human. Many people find long-term stability here and, after some experience, move up into leadership roles.

Hilton Remote Reservations Sales Specialist

Four to seven weeks is all it takes to be trained for this job. It’s fully online and focused on helping you master their booking and support systems. After training, you’ll earn incentives and gain access to generous hotel discounts as a full employee. If you’ve got a travel bug, this is for you.

Prudential Financial Remote Customer Service Representative

This paid training can last up to 10 weeks, but afterward, you’ll be fully set up to understand their systems, policies, and customer needs. Should you become full-time, you’ll get 401(k) matching and tuition support. If you want to get your foot in the door with finances, this is a smart path, especially if you’re switching careers later in life.

Progressive Insurance Work-From-Home Claims Representative

In this position, you’ll be trained (and paid) to learn how to handle real-world claims. You’ll help customers recover after accidents while also gaining valuable experience in one of the country’s leading insurance firms. Better still, you’ll also have access to stock options and opportunities for advancement.

No matter where you are in your professional life, paid training is the way to go; it makes remote jobs so much easier to attain – and succeed in. So, if you’re ready to learn a new skill in the comforts of home, this kind of work might well be in your future.

Sources

15 Work-From-Home Jobs That Provide Paid Training – The Penny Hoarder