Often when you think about compound interest, it is in the context of debt, say, a credit card’s annual percentage yield (APY) and the real cost of that loan over time. But compounding is not something that only financial institutions benefit from. In fact, when it comes to your savings strategy, compound interest (essentially lending your money to a financial institution for a period […]
1. File on time. This can be the hardest step—and the most important. The IRS charges penalties for failure to file taxes and for failure to pay them. Avoid the late-filing fee, even if you can’t pay what you owe. For 2018, tax returns are due on April 17, which gives you two additional days […]
Seeing that last year’s average tax refund hovered above $2500 (though in Wisconsin it’s a little less), you may well be expecting a hefty check in the next few months. But before you start Googling “Vacations in Veracruz,” consider finding some better ways to spend your tax return. Especially if you’re among the 63% of […]
So often tips to “make the most” of our paycheck involve some kind of budgeting hack: pack your lunch, forgo some convenience, discipline, discipline, discipline. But what about putting your savings plans on autopilot in order to milk your paycheck? Here’s the thing: Once you take the time to set up automatic payroll deductions and […]
CUMIS Insurance Society, Inc.
