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Unlock Exclusive Black Friday Deals – Are You Making the Most of It?

Hey Priceless Peeps! 🐣

Ready to dive into another edition of Only Finance? ✨💰
 
So, ’tis the season for decking the halls, finding the perfect gifts 🎁 , and treating ourselves to a little something-something. The holiday season is all about spreading joy, but let’s keep our bank accounts happy too, shall we?
 
According to the National Retail Federation, spending during November and December is expected to hit record levels, almost like things were before the whole pandemic mess.
 
But don’t let those flashy Black Friday ads and the promise of lower inflation lure you into a spending frenzy. Not all deals are actually worth it! 
 
Today, I’m gonna spill the beans on some common Black Friday mistakes and share how you can maximize your savings this year. 💸 
                                              
   In today’s edition:

    • Are You Making the Most of Black Friday?
    • 6 ways to save money on your Black Friday shopping list

    Priceless Peep.

     

    🤫 Let’s fill you in on the secret

     

    📩 Weekly serving of insider tips from the wealthy & healthy take a sip.

    The shopping extravaganza known as Black Friday is just around the corner!
     
    But here’s something important to keep in mind for 2023. Prices have been going up like crazy lately and it’s more crucial than ever to make every penny count when you hit the stores.

    Don’t Let lack Friday Break You

    Yes, it’s that time of year when the deals are aplenty and the temptation to splurge is strong. But here’s the thing: don’t let Black Friday put a strain on your wallet. It’s not worth going into debt over.
     
    Take a moment to set a specific budget for Black Friday, and stick to it like glue. Remember, you don’t have to spend every last penny. 
     
    Let’s talk numbers for a second. According to NerdWallet’s 2023 holiday shopping report, a whopping 52% of Americans used credit cards to buy gifts last holiday season. Nearly 31%, still haven’t paid off those balances. 😬
     
    Going into debt for the sake of shopping is simply not worth it, my friend. So, let’s make smart choices this Black Friday and keep our finances in check. ✅

    Don’t Skip Cyber Monday

    You know how Black Friday kicks off the season of epic sales? Well, guess what? Cyber Monday and the following week bring a whole new wave of deals, specifically geared towards online shopping.
     
    Here’s the deal: the sales on and around Cyber Monday can be just as fantastic, if not better, than the deals you’ll find on Black Friday. So, if that one item you’ve been eyeing doesn’t have a jaw-dropping price tag on Black Friday, don’t sweat it. You’ve got more opportunities coming your way!
     
    Keep your eyes peeled during the week after Black Friday, because there are bound to be some hidden gems waiting for you. 👀

    Don’t Expect the Same Low Prices From 2022

    Due to ongoing issues with inflation, prices are still higher now than they were a year ago. 
     
    On top of that, manufacturers have announced plans to increase prices in the latter part of 2023, which can extend to Black Friday. While we hope for great bargains this year, be prepared for the possibility that prices may not be as low as before. 
     
    Despite this uncertainty, Black Friday remains worthwhile. For households grappling with inflation and higher prices in general, Black Friday deals are likely to provide some much-needed relief with the best savings of the year. And that can make all the difference in holiday shopping.
     

    Don’t Overlook Cashback, Offers, and Rewards

    During the Black Friday season, some of the most enticing deals not only boast low prices but also offer additional discounts. 
     
    While the initial price may not always be the absolute lowest, using the 
    Savvy app 📲 before making a purchase allows you to determine the best card to use at checkout, maximizing your cashback or card-linked offers. 
     
    To take advantage of these deals, be sure to download the Savvy app prior to Black Friday and check out the available offers. Don’t assume every deal is a steal; pay attention to whether you’re receiving a small discount or significant savings.
     
    It’s important to keep in mind that many websites display a percentage discount on sale prices, but these figures can sometimes be misleading. The discount may be calculated from the manufacturer’s suggested retail price (MSRP), and certain products often sell for less than the MSRP. This means that some sales may appear more impressive than they truly are.
     
    To avoid making impulsive purchases based solely on an item’s label of being on sale, verify the price online to ensure it’s genuinely a good deal. Don’t let the excitement of Black Friday override your smart shopping habits. Take a moment to double-check and make informed decisions.
     

    📰 In the News:

    6 Surprising Things That Are on Sale This Black Friday

    Black Friday has evolved beyond just deals on TVs, air fryers, and electronics. The term “Black Friday” is now attached to sales across various categories, expanding each year.
     
    #1: Tires
    Surprisingly, tire retailers and manufacturers are offering discounts on new sets. Given the usual high cost of tires, grabbing them at a discount is a smart move. Car-related items on Black Friday? Who would have thought?
     
    #2: Furniture
    While not the first thing that comes to mind for a Black Friday deal, furniture is making a statement this November. Instead of taking a chance on a gift your parents might not use, consider giving them a comfy place to sit. Deals on couches, chairs, and tables abound, with LoveSac offering up to 35% off, and Macy’s marking down the popular Radley sectional couch by 47% until Nov. 25.
     
    #3: Amusement Park Tickets 
    Despite not being at the forefront of your thoughts, there are noteworthy deals on theme park tickets this time of year. Save up to 60% on tickets and annual passes to Orlando parks or up to 50% on tickets to Busch Gardens Williamsburg, Virginia. If a theme park visit is on your horizon, now’s the time to snag a deal.
     
    #4: Health and Beauty Supplies 
    Black Friday doesn’t have to be all about big-ticket items. You can find good sales on smaller items like health and beauty products. Ulta, for instance, has ongoing deals through Nov. 25. Keep an eye out for discounts on essentials like shampoo and conditioner at local drugstores around Black Friday.
     
    #5: Streaming Services 
    With streaming services becoming pricier, Black Friday is an opportunity to score deals. Last year’s offerings included 50% off a Paramount+ annual plan and a one-year ad-supported Hulu subscription for $1.99 a month. Check provider websites on Thanksgiving, Black Friday, and Cyber Monday to ensure you don’t miss out, keeping in mind that some offers may be exclusive to first-time subscribers.

    🧋Taylor’s Toolkit:

    DEAL ALERT 💸 🚨

    Right in time for one of the most significant shopping days of the year, Hulu’s Black Friday promotion is making a comeback and is more enticing than ever.
     
    For a limited time, “GMA” viewers have an exclusive opportunity to get early access to an incredible offer that you won’t want to miss.
     
    “GMA” viewers who are not yet Hulu subscribers or are eligible returning Hulu subscribers get the chance to subscribe to the Hulu (With Ads) plan, for just 99 cents per month for an entire year.
     
    Who is eligible for the “GMA” offer?
     
    All new and eligible returning Hulu subscribers (who have not subscribed to Hulu in the last 1 month) can take advantage of the Black Friday promotion.
     
    Is there an alternative way to subscribe to the Hulu Black Friday promotion?
     
    This offer will be open to all new and eligible returning subscribers starting Nov. 21 at Hulu.com.
     

    That’s it for this week!

    That’s a wrap for today! 👋  

    Wishing you a fantastic holiday season filled with great deals! Remember to stay savvy and make wise financial choices. Explore the Savvy app to discover how you can save extra during this holiday season.

    I’ll catch you next week, peeps! 💪✨

    Your Priceless Peep,

    Taylor

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    Unlock Exclusive Black Friday Deals – Are You Making the Most of It?

    This site contains affiliate links, view the disclosure for more information.

    Hey Priceless Peeps! 🐣

    Ready to dive into another edition of Only Finance? ✨💰
     
    So, ’tis the season for decking the halls, finding the perfect gifts 🎁 , and treating ourselves to a little something-something. The holiday season is all about spreading joy, but let’s keep our bank accounts happy too, shall we?
     
    According to the National Retail Federation, spending during November and December is expected to hit record levels, almost like things were before the whole pandemic mess.
     
    But don’t let those flashy Black Friday ads and the promise of lower inflation lure you into a spending frenzy. Not all deals are actually worth it! 
     
    Today, I’m gonna spill the beans on some common Black Friday mistakes and share how you can maximize your savings this year. 💸 
                                                  
       In today’s edition:

      • Are You Making the Most of Black Friday?
      • 6 ways to save money on your Black Friday shopping list

      Priceless Peep.

       

      🤫 Let’s fill you in on the secret

       

      📩 Weekly serving of insider tips from the wealthy & healthy take a sip.

      The shopping extravaganza known as Black Friday is just around the corner!
       
      But here’s something important to keep in mind for 2023. Prices have been going up like crazy lately and it’s more crucial than ever to make every penny count when you hit the stores.

      Don’t Let lack Friday Break You

      Yes, it’s that time of year when the deals are aplenty and the temptation to splurge is strong. But here’s the thing: don’t let Black Friday put a strain on your wallet. It’s not worth going into debt over.
       
      Take a moment to set a specific budget for Black Friday, and stick to it like glue. Remember, you don’t have to spend every last penny. 
       
      Let’s talk numbers for a second. According to NerdWallet’s 2023 holiday shopping report, a whopping 52% of Americans used credit cards to buy gifts last holiday season. Nearly 31%, still haven’t paid off those balances. 😬
       
      Going into debt for the sake of shopping is simply not worth it, my friend. So, let’s make smart choices this Black Friday and keep our finances in check. ✅

      Don’t Skip Cyber Monday

      You know how Black Friday kicks off the season of epic sales? Well, guess what? Cyber Monday and the following week bring a whole new wave of deals, specifically geared towards online shopping.
       
      Here’s the deal: the sales on and around Cyber Monday can be just as fantastic, if not better, than the deals you’ll find on Black Friday. So, if that one item you’ve been eyeing doesn’t have a jaw-dropping price tag on Black Friday, don’t sweat it. You’ve got more opportunities coming your way!
       
      Keep your eyes peeled during the week after Black Friday, because there are bound to be some hidden gems waiting for you. 👀

      Don’t Expect the Same Low Prices From 2022

      Due to ongoing issues with inflation, prices are still higher now than they were a year ago. 
       
      On top of that, manufacturers have announced plans to increase prices in the latter part of 2023, which can extend to Black Friday. While we hope for great bargains this year, be prepared for the possibility that prices may not be as low as before. 
       
      Despite this uncertainty, Black Friday remains worthwhile. For households grappling with inflation and higher prices in general, Black Friday deals are likely to provide some much-needed relief with the best savings of the year. And that can make all the difference in holiday shopping.
       

      Don’t Overlook Cashback, Offers, and Rewards

      During the Black Friday season, some of the most enticing deals not only boast low prices but also offer additional discounts. 
       
      While the initial price may not always be the absolute lowest, using the 
      Savvy app 📲 before making a purchase allows you to determine the best card to use at checkout, maximizing your cashback or card-linked offers. 
       
      To take advantage of these deals, be sure to download the Savvy app prior to Black Friday and check out the available offers. Don’t assume every deal is a steal; pay attention to whether you’re receiving a small discount or significant savings.
       
      It’s important to keep in mind that many websites display a percentage discount on sale prices, but these figures can sometimes be misleading. The discount may be calculated from the manufacturer’s suggested retail price (MSRP), and certain products often sell for less than the MSRP. This means that some sales may appear more impressive than they truly are.
       
      To avoid making impulsive purchases based solely on an item’s label of being on sale, verify the price online to ensure it’s genuinely a good deal. Don’t let the excitement of Black Friday override your smart shopping habits. Take a moment to double-check and make informed decisions.
       

      📰 In the News:

      6 Surprising Things That Are on Sale This Black Friday

      Black Friday has evolved beyond just deals on TVs, air fryers, and electronics. The term “Black Friday” is now attached to sales across various categories, expanding each year.
       
      #1: Tires
      Surprisingly, tire retailers and manufacturers are offering discounts on new sets. Given the usual high cost of tires, grabbing them at a discount is a smart move. Car-related items on Black Friday? Who would have thought?
       
      #2: Furniture
      While not the first thing that comes to mind for a Black Friday deal, furniture is making a statement this November. Instead of taking a chance on a gift your parents might not use, consider giving them a comfy place to sit. Deals on couches, chairs, and tables abound, with LoveSac offering up to 35% off, and Macy’s marking down the popular Radley sectional couch by 47% until Nov. 25.
       
      #3: Amusement Park Tickets 
      Despite not being at the forefront of your thoughts, there are noteworthy deals on theme park tickets this time of year. Save up to 60% on tickets and annual passes to Orlando parks or up to 50% on tickets to Busch Gardens Williamsburg, Virginia. If a theme park visit is on your horizon, now’s the time to snag a deal.
       
      #4: Health and Beauty Supplies 
      Black Friday doesn’t have to be all about big-ticket items. You can find good sales on smaller items like health and beauty products. Ulta, for instance, has ongoing deals through Nov. 25. Keep an eye out for discounts on essentials like shampoo and conditioner at local drugstores around Black Friday.
       
      #5: Streaming Services 
      With streaming services becoming pricier, Black Friday is an opportunity to score deals. Last year’s offerings included 50% off a Paramount+ annual plan and a one-year ad-supported Hulu subscription for $1.99 a month. Check provider websites on Thanksgiving, Black Friday, and Cyber Monday to ensure you don’t miss out, keeping in mind that some offers may be exclusive to first-time subscribers.

      🧋Taylor’s Toolkit:

      DEAL ALERT 💸 🚨

      Right in time for one of the most significant shopping days of the year, Hulu’s Black Friday promotion is making a comeback and is more enticing than ever.
       
      For a limited time, “GMA” viewers have an exclusive opportunity to get early access to an incredible offer that you won’t want to miss.
       
      “GMA” viewers who are not yet Hulu subscribers or are eligible returning Hulu subscribers get the chance to subscribe to the Hulu (With Ads) plan, for just 99 cents per month for an entire year.
       
      Who is eligible for the “GMA” offer?
       
      All new and eligible returning Hulu subscribers (who have not subscribed to Hulu in the last 1 month) can take advantage of the Black Friday promotion.
       
      Is there an alternative way to subscribe to the Hulu Black Friday promotion?
       
      This offer will be open to all new and eligible returning subscribers starting Nov. 21 at Hulu.com.
       

      That’s it for this week!

      That’s a wrap for today! 👋  

      Wishing you a fantastic holiday season filled with great deals! Remember to stay savvy and make wise financial choices. Explore the Savvy app to discover how you can save extra during this holiday season.

      I’ll catch you next week, peeps! 💪✨

      Your Priceless Peep,

      Taylor

      Filing Taxes for the First Time? Here’s Everything You Need To Know

      Are you in a bind because you’ve never filed a tax return before? And to top it off, you just learned that you’ll need to file one this year? April 15th:

      This site contains affiliate links, view the disclosure for more information.

      filing your taxes
      Are you in a bind because you’ve never filed a tax return before? And to top it off, you just learned that you’ll need to file one this year?
       
      April 15th: Tax Day always falls on that date, unless April 15 falls on a weekend or holiday. 
       
      If you are filing your taxes for the first time, we have everything you need to know. And yes, we will be sharing how to file your taxes for free (or at a super low cost).

      In this post, we are sharing everything you need to know if you are filing taxes for the first time.

      A BEGINNERS GUIDE TO FILING TAXES

      Essential tips for all you first-time filers out there ⬇️

      Figure Out If You Have to File a Tax Return

      To determine if you need to file a tax return, there are a few key factors to consider. 
       
      In general, if your gross income in 2023 was at least $13,850, you’ll likely need to file a tax return in 2024.
       
      Keep in mind that different rules apply to married individuals, older Americans, and heads of household. 
       
      It’s important to note that even if you can be claimed as a dependent on someone else’s tax return, the $13,850 threshold still applies to you. 
       
      If you are considered a dependent, you must file a return if you have accumulated at least $1,250 in “unearned” income, such as interest from investments.

      Get Your Documents Together Early

       
      Once you’ve determined that you need to file a tax return, it’s time to gather the necessary documents to complete it.
       
      Here’s a list of essential documents to gather:
       
      W-2: If you have a job, your employer is required to send you this form by the end of January. It provides details on your earnings for the previous year and the amount of tax withheld.
       
      1099s: These forms report income that doesn’t come directly from a traditional employer. They include earnings from freelance work, “gig” pay, interest and dividend income, as well as income from third-party platforms like Venmo and PayPal.
       
      Receipts: As a first-time taxpayer, it’s important to start keeping records of transactions that may need to be reported on your tax form. This includes income, expenses, and potential deductions. For example, keep track of any charitable donations you make or significant medical bills you incur.
       
      By gathering these essential documents, you’ll be well-prepared to complete your tax return accurately and efficiently.

      Gather Important Personal information

      You’ll need the following personal information on hand to file taxes:
       
      • Social Security Number (SSN) or Taxpayer Identification Number
      • (TIN) for yourself and any dependents
      • Full name and date of birth for all individuals on your return.
      • Proof of identity with a valid photo ID
      • Bank account information, including your routing and account numbers, if you want to receive your tax refund via direct deposit.

      Figure Out If Someone Can Claim You as a Dependent

       
      It’s important to determine whether someone can claim you as a dependent, especially if you’re living with your parents or receiving any financial support from them.
       
      According to TurboTax, parents can claim you as a dependent if you’re under 19 years of age, or under 24 and a full-time student, and they provide more than half of your financial support.
       
      While parents can receive tax benefits by claiming you as a dependent, it’s also crucial for you to report this dependent status on your own tax return. 
       
      Be sure to check with your parents and discuss whether they plan to claim you as a dependent and how it may affect your taxes. Always stay informed to ensure that you’re taking all the necessary steps towards financial success.

      Figure Out If Someone Can Claim You as a Dependent

       
      It’s important to determine whether someone can claim you as a dependent, especially if you’re living with your parents or receiving any financial support from them.
       
      According to TurboTax, parents can claim you as a dependent if you’re under 19 years of age, or under 24 and a full-time student, and they provide more than half of your financial support.
       
      While parents can receive tax benefits by claiming you as a dependent, it’s also crucial for you to report this dependent status on your own tax return. 
       
      Be sure to check with your parents and discuss whether they plan to claim you as a dependent and how it may affect your taxes. Always stay informed to ensure that you’re taking all the necessary steps towards financial success.

      Determine Your Tax Filing Status:

      Here are the five primary filing statuses: 
       
      • Single: If you’re unmarried.  
      • Married (filing jointly): For married couples who want to combine their income on one return.
      • Married (filing separately): For married couples filing separately.
      • Head of household: For unmarried individuals who support dependents.
      • Qualifying widow/widower with dependent child: If you’re a surviving spouse with a dependent child. 
       
      Include the appropriate filing status on your forms, when filing your taxes for the first time.

      Find Out If You Qualify for Deductions or Credits

       
      When it comes to taxes, deductions and credits can both help decrease your overall tax liability. Tax deductions work by reducing the amount of your income that is taxable while tax credits decrease the amount of tax you owe.
       
      For first-time taxpayers, there are a few common deductions and credits that may apply:
       
      • The student loan interest deduction is one example of a deduction and can possibly result in a maximum deduction of $2,500 for the interest paid on student loans.
       
      • The American Opportunity Tax Credit is a credit that can be claimed by those individuals for whom no one can claim as a dependent, allowing for up to $2,500 credit for college expenses.
       
      • The Earned Income Tax Credit may be an option for individuals who earned a low income in 2023. It is essential to consult the IRS tables for information on how to qualify for this credit based on your income level.
       
      • Lifetime Learning Credit: A credit that helps cover the costs of post-secondary education, including tuition and related expenses, for eligible students. 
       
      • Educational expenses deduction: This deduction covers certain educational expenses. 
       
      • Home Energy Tax Credits: A credit for homeowners who make qualifying energy-efficient home upgrades.
       
      • Energy Efficient Home Improvement Credit: A credit for homeowners investing in energy-efficient home improvements. 
      Deductions and credits can be a valuable tool when it comes to claiming your taxes.
       
      Getting your taxable amount to the lowest possible is important if you want to pay less in taxes. It’s crucial to research which ones may apply to your situation and take advantage of them while preparing your tax return.

      Decide if You Need Help

      If you’re a first-time taxpayer, you have the option of either doing your own taxes or hiring a professional. 
       
      Many Gen-Z individuals choose to do their own taxes, which is generally fine if your tax situation is straightforward.
       
      By taking the DIY approach, you can potentially save money and complete your tax return quickly using tax software or the official IRS Free File program.
       
       Calculate your estimated Tax Return using Turbo Tax.

      Completing Your Tax Filing

       
      Once you’re prepared to file your taxes, it’s important to ensure the accuracy of your tax return. Take the time to review your personal information, income, deductions, and credits for any errors or omissions.
       
      Online Filing: If you choose to file online, the platform you use will typically guide you through the process. Before proceeding from one page to the next, carefully verify the information provided for an easier filing experience.
       
       
      Tax Professional Assistance: When working with a tax professional, they are responsible for reviewing their work. However, it’s crucial to provide them with accurate information from the start. If needed, ask for a walkthrough of your return to gain additional peace of mind.
       
      Nonprofit Organization Assistance: If you’re seeking help from a nonprofit organization, you might be required to attend in-person sessions and bring all necessary documents. The organization will then assist you in submitting your tax return.
       
      Paper Filing: If you opt for paper filing, complete all mandatory forms accurately, attach supporting documents, and send the package to the appropriate IRS address. Take the time to double-check everything before mailing your return, and remember to include a signed and dated copy.
       
      It’s crucial to file your return by the tax deadline to avoid any late penalties. For the 2024 tax year, the deadline is April 15, 2024.

      Pay the IRS if you owe taxes

      After filing your taxes, you’ll either receive a tax refund or a notice of the amount you owe to the IRS. If you end up owing money, you’ll need to know how to pay what you owe.
       
      You have a few options:
       
      • Use IRS Direct PayThis online service lets you pay your tax bill directly from your bank account. It’s a secure and convenient way to pay the IRS without any fees. 
      • Pay with a credit or debit card: You can pay your taxes using a credit or debit card through authorized payment processors, but this method includes fees. 
      • Pay in installments: If you can’t pay your tax bill in full, you may be eligible for an installment payment plan with the IRS. This allows you to pay your tax debt over time in manageable installments. 
      Whichever method you choose, pay what you owe on time to avoid any penalties.

      Common Tax Mistakes to Avoid For First-Time Filers

      • Misreporting any earned income
      • Not claiming qualified deductions or credits
      • Forgetting to sign and date your Tax return
      • Missing the date to file
      • Not keeping organized and accurate records.
      • Inaccurate Filing Status

      This post was all about, everything you need to know before filing your taxes for the first time.

      Check out our other posts ⬇️

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