Evan Vitale

Watch Those Tax Return Loan Fees!

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By Evan Vitale

Tax season is upon us and you’re probably in the same situation with others in that you’d like to get your taxes filed as quickly as possible and get your hands on your return.

However, what about those different businesses that help you prepare your taxes so they can offer you a “loan” on your return?

Unfortunately, even if you need the money right away, it might not be worth the price.

These are short-term loans – also called “instant refund loans” or “refund anticipation loans” – are popular as millions of Americans use the service year after year.

So, why are they a bad idea?

  • Large fees. Businesses offering tax services and short-term loans on your returns may also be charging you initial loan fees; tax preparation fees and electronic fees for filing your return. These fees might take a bite out of a larger return you were expecting.
  • Outrageous APR. In order to receive the loan on your return, you might have to pay an annual percentage rate of over 200%. Remember, this is just a short-term loan. Would you pay such a high rate for a car or home loan? Of course not!
  • Potential IRS problems. Remember the Internal Revenue Service? If there is any problem with your return, the IRS could throw a wrench into things and hold your refund. Even if that happens, you’re still responsible for paying off your short-term loan and now you’re stuck due to a return problem.

Some people may not have a choice and might be in a tough financial pinch and need the money from “loan on your return” businesses. If so, look for the best deal and the best interest rate. Do your homework, but remember: the best advice is to try to avoid getting a loan on your return altogether.

Extra Income Opportunities

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By Evan Vitale

You’ve cut your budget; you’re watching your spending and you’re working a full-time job yet still it would be nice to have a little bit of extra money each month.

True, you could seek out a part-time job and work evenings and weekend, but there may be some obstacles that prevent taking on another job (i.e., child care; night classes, etc.). So, what could you “juggle” in order to create some extra income?

Simple. Start a small, at-home business. Here are some ideas that might help generate the creative juices:

  • Start selling on eBay, Etsy or other online selling platforms. You probably have some things around the house that you could clean up; take photographs and list for sale. Start researching eBay to get an idea of what people are buying. You’ll be surprised.
  • If you have children, perhaps you can offer some evening and weekend child care services to other family members and friends. Try not to get carried away so that it creates a problem for neighbors (and for yourself).
  • If you can sew, check with a local dry cleaner and offer them your hemming and repair services.
  • If you can write, there are many writing and editing opportunities with online services such as guru.com.
  • Be sure to check out Fiverr.com for ideas. Here, you will find some quick-paying gigs – but there’s a catch: all initial projects are completed for only $5.

This is just a start! Think about your time and your skills and what additional income you would like to earn with a few evening and weekend hours. The possibilities here are endless and you’ll still be able to be at home!

 

Evan Vitale – How To Beat Those Winter Blues

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By Evan Vitale

For many, the end of the holiday season and the what-seems-like-forever cold; gray; dreary days of winter, it’s hard to beat the “blues.”

Some call it the “winter blues” but others can suffer from what’s known as “seasonal affective disorder” or “SAD.”

The winter blues is most common in the Midwest, Northwest and Northeast and nearly 25 million Americans suffer seasonal blues every year.

During this time, you might find yourself:

  • Bored.
  • Restless
  • Irritable
  • Tense
  • Craving sweets
  • Eating more than normal
  • Feeling cooped up
  • Lethargic
  • Sad or down
  • Fatigues
  • Feeling “stir-crazy”
  • Sleeping more than normal
  • Grumpy
  • Moody
  • Uninterested in sex
  • Having trouble concentrating

The winter blues and “SAD” are two different things. Don’t get them confused with each other. People suffering from SAD feel depressed and fatigued to the point that their relationship and work life begin to suffer.

In other case, one of the best ways to get over the winter blues (or SAD) is by getting more sunlight. While they can be a problem in areas where it’s cloudy day after day, you can purchase and use a light box with a full-spectrum light.

It is because sunlight affects the melatonin-serotonin system that it works so well to alleviate the symptoms of the winter blues and elevates mood. In fact, studies have even found that light therapy or phototherapy, which is the practice of using full-spectrum light therapeutically, works to relieve the symptoms of the winter blues and SAD better than antidepressant drugs.

Interestingly, vitamin D, which requires sun exposure to be produced in your body, is also linked to higher levels of serotonin, and it has been suggested that getting plenty of sunlight over the summer helps your body to maintain higher vitamin D levels in the winter, and therefore higher levels of serotonin as well.

So in the wintertime, if you can take a trip to a sunny location and spend some time in the sun, your mood is likely to improve immediately (this means sensible sun exposure — staying in the sun until you are burned is NOT healthy).

For those of you who cannot get away, though, there is another option that is widely accepted as the best treatment for SAD and the winter blues: Full-spectrum lighting. Natural sunlight is full spectrum, and the full-spectrum light box I recommend replicates the same healthy “ingredients” in natural sunlight. This includes the full spectrum of color (imagine the colors of the rainbow), as well as infrared and the three ultraviolet wavelengths. No other type of lighting source — not “regular” or even “natural” light bulbs or fluorescent light bulbs — contains these requirements.

 

Evan Vitale – Here’s To Better Health in 2017

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By Evan Vitale

One of the things you can work on in the new year – and save money – is staying healthy and looking good at the same time.

Health care, as you probably know, is expensive. You may not have any health benefits (or perhaps you might lose them a la ObamaCare) or your benefits are at a minimum depending on your employment situation.

Either way, missing work due to a cold; the flu or other ailments can cause financial stress in both short-term and long-term situations. Therefore, here are some tips to help you become a healthier person this year:

  • Eat healthy foods such as vegetables, fruits and chicken – increase your proteins and cut back on fatty foods. A friend of mine is replacing chocolate, soda and sweets with oranges, celery, and water.
  • Always eat breakfast. Oatmeal; unsweetened cereal or eggs are best, but if you’re running short on time in the morning, a slice of whole grain toast or a bagel is better than nothing. Later in the morning, think veggies; fruits or nuts.
  • Do some type of exercise which can include dancing; walking or riding a bike. A friend of mine lives approximately one mile from his office. He doesn’t walk to work (to avoid building up a sweat), but he walks home at a good pace every day. Nice!
  • Don’t stress out. Stress has a huge impact on your health. Try not to involve yourself in stressful situations (this includes family drama). Work on yourself. Exercise also helps reduce the impact of stress.
  • Now that you are starting to feel better about your healthy choices, you’ll start to look better too. Take pride in your looks; the clothes you wear and how you wear them.

There’s only one “you” and you’re responsible for taking care of yourself!

Evan Vitale – A Happier New Year

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By Evan Vitale

Since we’re early in 2017, you’ll still hear people telling each other (and you) to have a “Happy New Year!”

Is it possible? Can you REALLY have a happy time; a good time in 2017? Can this year truly be a great year for you; your family; your currently employment and more?

One thing is for sure: You and only you can make yourself happy. Don’t wait for something or someone else to come along and make you happy. You are in control of your happiness.

Of course, for some, an improvement in their current lives can help their happiness, but it’s going to be different for each person. For example, a new car; a new house, condo or apartment; a vacation; more money; a job promotion or a new job, etc. Those are all obtainable goals, but they can feel like mountains!

While you might be working towards a larger goal this year, make sure that you are also winning in other areas of your life that you can control. For example, breaking a habit like smoking or cutting back on your sugar intake; feeling healthier by walking for a few minutes each day; being more selective in your eating habits; creating and following a budget, etc.

Winning with small goals (such as creating and following a budget) will help you save more money which, in turn, can help you reach a bigger goal of taking a dream vacation or having enough cash on hand for a down payment on a car.

Let’s be clear: money can’t buy you happiness as the above scenario is only an example. For some, spending more time with family members creates happiness for you (and for others). Volunteering helps make people – both the giver and the receiver – happy.

Find things that you like to do that will create more happiness in your lives (and in lives of others). This will help you create a truly “Happy New Year” this year for you.

Evan Vitale – Improve Your Budget This Year

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By Evan Vitale

Happy New Year!

Now, let’s really get down to work – starting today – in making 2017 a great year for you by taking the necessary steps in erasing (or significantly lowering) your debt and improving your budget.

The beginning of the year is a good time to take a look at your expenses and your debt and making some good decisions to start the year off fresh.

Ready? Here we go:

  • Take a look at where your budget is leaking money. Make there are some unpredictable expenses or, perhaps, you didn’t account for some extra income (which is always nice). Fine tune your budget to completely fill in the gaps so as to make your budget more accurate.
  • Analyze your spending and see if there is anything out of the normal. Check your budgeted categories and make sure that they are realistically reflecting your lifestyle. Make necessary adjustments.
  • Check to see if you are buying too many of one or two items. For example, how much money are you spending each year on those extra “lattes” every day at your local coffee shop or, perhaps, are you spending too much money (and too often) on music downloads; DVDs; books; movie tickets or eating out at lunch. Work hard on reducing these amounts.
  • Re-evaluate your overall plan so that you can have the funds needed in order to reduce your debt (such as credit card debt) or to start saving more.

By studying; analyzing and re-working your budget, you can make logical changes to reduce extra spending; plug holes in your budget for unexpected expenses and work harder in the upcoming new year to erase debt and build more wealth.

 

Evan Vitale – New Year Resolutions

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By Evan Vitale

Are you setting any resolutions or goals for the upcoming year?

Believe-it-or-not, a somewhat recent Forbes study showed that only 8% of Americans actually achieved their New Year’s resolutions. On top of that, only 45% of Americans actually make New Year’s resolutions consistently with the other 55% who rarely make them or never make them at all.

Perhaps we tend to get wrapped up in the moment of a New Year’s Eve party or watching the ball drop on television to realize that make the past year wasn’t that good for us or that we have expectations that, somehow, we’re going to make improvements in our lives for the upcoming year.

Then, 365 days later, we repeat the process. “This year is going to be better no matter what,” we think.

While it can be fun to set a New Year’s Resolution (and impress your family and friends), you should take them seriously and turn them into goals for your life. For example:

  • Think about what you really want.
  • Reflect to the past year; consider your greatest moments and achievements and see if you can build on those in the upcoming year.
  • Develop clear outcomes. Losing weight is always a New Year’s Resolution, but other than seeing a lot of people running on New Year’s Day, you need to vision the ultimate outcome of your resolution. Consider your outcomes and goals and develop a plan to work towards them.
  • Create benchmarks.
  • Try to work with a partner. Find someone who has a similar goal and make it a point to hold each other accountable. This will help tremendously!
  • Fully understand what it’s going to take in order for you to reach your goal. Are you going to have to make serious changes and sacrifices in order to reach your resolution?
  • Consistently take action.

Work on your resolution and goal plans for the upcoming New Year and then follow through and work on them daily; weekly and monthly. Remind yourself and others of your goal and how you’re progressing.

Evan Vitale – End of the Year Crunch

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By Evan Vitale

The end of the year is upon us and approaching at a swift pace! There’s shopping; wrapping; traveling; meals to prepare; people to see; parties to attend, plus all the normal things we need to do every day (like go to work!).

How can you get through the end of the year crunch without losing your mind?

Here’s a little step-by-step approach that will help you survive the holidays and get everything done in a timely manner:

  • Break down everything you need to do in smaller tasks. Not every present needs to be wrapped today, but if you have 30 minutes to spare here or there, take advantage of smaller chunks of time in order to tackle those bigger projects a little at a time.
  • Bundle tasks. For example, if you need to go out, what else needs to be done? Shipping packages; some last-minute shopping and a trip to the grocery store can all be done with a one-car trip. Save time by not going back-and-forth to businesses and to your home.
  • Wait until the holidays are over before taking down the Christmas tree or doing any major cleaning (as long as you’re not hosting this year). Some things can just wait or, if you prefer, you can start gathering and removing holiday decorations in little tasks.
  • If you are really crunched on time, look for and take advantage of time-saving opportunities. For example, several department stores (and other stores) offer gift-wrapping services for a small fee or you might find a non-profit agency offering wrapping services for a donation. This is a huge time saver (and can be a great stress-buster if you don’t like to wrap presents).

Stay calm. Relax and enjoy the holidays. Don’t stress out and feel like things are not in your control. Breathe. Take breaks and remember to enjoy the season!

Evan Vitale – Setting Personal Goals (Part III)

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By Evan Vitale

This is our third and final part of a series on setting and reaching personal goals.

As I’ve said in the previous blog posts, it’s very easy to set a goal (and many people claim resolutions on January 1 for the upcoming year). However, there’s a huge difference in setting a goal and reaching it.

As you set your goal, one of three things will happen:

  1. You’ll work hard and obtain your goal.
  2. You’ll work hard most of the time, but you won’t reach your goal.
  3. You’ll never do anything in working toward reaching your goal.

Let’s focus on No. 1 and No. 2 as our main challenge is how are we going to reach our goal?

Here’s the secret to reaching any goal: break your goal down into smaller, bit-sized and winnable chunks.

How?

Well, let’s say we have a goal that we want to lose 20 pounds in the upcoming year. That’s a good goal and it’s one that we can reach.

Now, let’s break it down into smaller chunks. How are we going to lose 20 pounds?

  1. Create a smaller goal of walking every day for 30 minutes. Break this goal down into when are you going to walk every day. In the morning? At lunch? After work? Make it good for you so that you’ll actually do it every day.
  2. Take a look at your diet. Now, I’m not saying you’re going to switch to an all bread-and-water diet, but what kinds of foods and drinks could you start cutting out of your daily intake that would impact your weight gain or loss. For example, cut back on sugar; carbs and sugar-drinks like soda. A friend of mine totally cut out all soft drinks and starting drinking water instead. Not only does he feel better, but he immediately started losing weight.

There two steps are only the beginning, but they are simple. Plus, if you succeed in reaching and following your “sub-goals” then you’ll reach your main goal quicker.

Now are you ready to set a new goal for yourself for the upcoming year? Create the goal. Then, create a list of steps that you must take in order to reach the goal. Have a plan. Follow it!

Evan Vitale – Setting Personal Goals (Part II)

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By Evan Vitale

Let’s continue with our on-going series of setting – and reaching – goals in our personal life. It’s true: setting a goal is easy, but are you setting realistic goals?

For example, to set a goal that you are going to make $1 million over the next 365 days might be an unrealistic goal if you are unemployed or aren’t in a position to increase sales or your salary. However, if you earned $750,000 last year in sales commissions and salary, then you could see how a $1 million goal might be obtainable.

What realistic goals and reachable goals would you like to set for yourself? Here are some ideas:

  • Lose weight – always a top goal as we enter a new year.
  • Buy a new car.
  • Get a job promotion where you work.
  • Get a raise.
  • Find a different job, perhaps?
  • Travel more.
  • Buy a house, condo, etc.
  • Start a new business.
  • Plan for a better and more comfortable retirement.
  • Save more money.
  • Do a better job of budgeting.
  • Stop smoking; drink less, etc.

Are your creative juices flowing?

These goal ideas are some of the more popular ones, but most goals are those involving financial goals and health-related goals as we’d like to live longer; feel better and have the financial means to enjoy life.

While we might want to choose and create many goals, let’s start our goal project by picking one goal and focus solely on that primary goal.

How are you going to reach that goal? How much time do you think it will take? A month? A year? Longer, perhaps?

In our next blog, we’re going to pick a random goal from our aforementioned list and break it down into smaller chunks and show you how easy it is to work towards and reach your goal!