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5 Tax Mistakes We Made Each Year

Posted by Melissa Batai on Mar 22nd, 2022 · 0 Comment

For the first ten years of our marriage, my husband and I filed out our taxes using a software program, which was often a frustrating experience. I’m sure we likely lost out on some of the money we could have gotten back from the government if I hadn’t done the taxes myself. Until five years ago, we typically had 5 tax mistakes we made each year. Doing Our Taxes Ourselves I know some people do...
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Here are some simple guidelines that will help you build wealth:

1) Do the math. Get a budget and calculate your net worth

2) Get an emergency fund. Save at least 6 months worth of expenses

3) Limit costs. Spend no more than 30% of your income on housing

4) Max your retirement. Maximize contributions to your tax-deferred retirement accounts

5) Pay yourself first. Set aside money for yourself before you take care of your other bills

6) Set goals. Goal let you get ahead faster

7) Avoid high interest debt. Avoid credit cards, title loans and other usurious loans

8) Diversify. Diversity your assets.

5 Tax Mistakes We Made Each Year

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Critical Financials’ Basic Personal Finance Rules

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