#Car Payment Calculator GA

[moderncalculators]

Empowering Financial Decisions with Modern Calculators: Your Key to Financial Success

In an era where information is readily available, financial empowerment is key to making informed decisions. Thanks to the digital age, we have access to an impressive array of calculators that can simplify complex financial tasks. Let's explore the world of Modern Calculators and discover how these tools can empower you in various aspects of your financial journey.

1. Rectangle Body Shape Calculator

Your body shape plays a significant role in fashion choices. The Rectangle Body Shape Calculator not only identifies your body shape but also offers tailored fashion advice to help you look and feel your best.

2. Pear Body Shape Calculator

Enhance your style by understanding your body shape. The Pear Body Shape Calculator provides insights and fashion tips specifically designed for pear-shaped individuals.

3. Triangle Body Shape Calculator

Confidence in your wardrobe starts with knowing your body shape. The Triangle Body Shape Calculator identifies your body type and offers fashion recommendations to elevate your style.

4. Car Payment Calculator GA

Planning to buy a car in Georgia? The Car Payment Calculator GA simplifies the process by helping you estimate your monthly car payments, ensuring they fit comfortably within your budget.

5. Mobile Home Mortgage Calculator

Homeownership is a dream for many, and mobile homes provide an affordable path. The Mobile Home Mortgage Calculator assists in estimating your monthly mortgage payments, making homeownership more achievable.

6. Car Payment Calculator Illinois, Colorado, Virginia

If you're relocating to Illinois, Colorado, or Virginia, this calculator helps you estimate car payments in different states, ensuring your budget aligns with your new location.

7. Car Payment Calculator AZ

Considering a vehicle purchase in Arizona? The Car Payment Calculator AZ enables you to calculate potential car payments, allowing you to budget effectively.

8. FintechZoom Mortgage Calculator

Mortgages can be complex, but the FintechZoom Mortgage Calculator simplifies the process. Calculate mortgage payments, explore interest rates, and understand your amortization schedule with ease.

9. Construction Loan Calculator

Building your dream home? The Construction Loan Calculator estimates your construction loan requirements and monthly payments, ensuring a smooth building process.

10. Aerobic Capacity Calculator

Your fitness journey starts with understanding your aerobic capacity. Calculate your fitness level and tailor your workouts for optimal results using this essential tool.

11. Aircraft Loan Calculator - Airplane Loan Calculator

For aviation enthusiasts, owning an aircraft is a dream come true. The Aircraft Loan Calculator simplifies the financial side of aviation, helping you understand loan terms and payments.

12. Manufactured Home Loan Calculator

Thinking about a manufactured home? This calculator provides invaluable insights into potential loan payments, making homeownership in a manufactured home more achievable.

13. Classic Car Loan Calculator

Passionate about classic cars? The Classic Car Loan Calculator helps estimate classic car loan payments, bringing you closer to your dream vehicle.

14. FintechZoom Loan Calculator

Whether you need a personal or business loan, the FintechZoom Loan Calculator equips you to estimate monthly payments and assess the financial impact of borrowing.

15. ATV Loan Calculator

Ready for off-road adventures? The ATV Loan Calculator calculates potential ATV loan payments, ensuring your outdoor escapades are within reach.

16. Farm Loan Calculator

Aspiring farmers can benefit from the Farm Loan Calculator. It simplifies estimating loan payments and planning expenses for a successful agricultural venture.

17. Pool Loan Calculator

Turn your backyard into a paradise with a pool. The Pool Loan Calculator helps you understand the cost of financing your dream pool, making planning easy.

18. Solar Loan Calculator

Considering solar energy? Calculate the financial impact of a solar energy system on your budget and savings with the Solar Loan Calculator, helping you make eco-friendly choices.

19. Mobile Home Loan Calculator

Contemplating a mobile home purchase? Estimate potential mobile home loan payments to make an informed decision about your future home.

20. Bridge Loan Calculator - Bridging Loan Calculator

Real estate investors often use bridge loans for flexibility. The Bridge Loan Calculator simplifies the process of evaluating your bridge loan requirements, facilitating smarter investment decisions.

21. Hard Money Loan Calculator

Hard money lending can be a viable financing option. Use this calculator to assess potential hard money loan terms and payments, ensuring you make sound financial choices.

22. HDFC SIP Calculator

Systematic Investment Plans (SIPs) are an excellent way to grow your wealth. The HDFC SIP Calculator helps plan your investments and understand potential returns on your SIP portfolio.

23. Step Up SIP Calculator

Planning to increase your SIP investments gradually? The Step Up SIP Calculator allows you to calculate the benefits of incremental investment increases on your wealth accumulation.

24. What Calculators Are Allowed on The ACT

For students preparing for the ACT, understanding which calculators are permitted during the exam is crucial. This article provides valuable insights into the types of calculators allowed, ensuring you're well-prepared for test day.

In conclusion, Modern Calculators offers a wide range of calculators that simplify complex tasks and empower you to make informed decisions in various aspects of your life. These calculators are your tools for financial empowerment, helping you achieve your goals and secure your financial future. Explore them today and embark on your journey to financial success!

[toastbutteregg]

if you make $50,000/year, after tax will be $36,000 (estimate)

$36,000/12 months = $3,000 to spend and save monthly

being super conservative with the spending and calculation (state of GA):

$1,500 (rent/mortgage) + $300 (utilities/internet/phone bill) + $300 (grocery) + $150 (gas) + $450 (car + insurance payment) = $2,700 spent with $300 left

$300 left for:

medical bills (copay/coinsurance) that you might need to pay for

other monthly bills that i have not listed

car maintenance (oil change etc) or home repairs

buying presents for family or yourself

savings

investing in something that hopefully will give you a good return

there is really nothing left

[ivan-fyodorovich-k]

Please explain how to write out a personal ledger like I’m 5 (my budget is getting tighter and I always pay my bills before any other spending but I’m tired of passively spending and wondering where 50 bucks went at the end of the month)

OK

I have a five year old and if I explained this to you like you were five it would not be useful to you in your mid twenties

I do mine on the computer, I have a file in Microsoft Excel because I have Excel, but any spreadsheet program would work I'm sure, you could probably use Google sheets or whatever it’s called

warning: if you follow this method you will know how you spend your money

So what I do is this

I have a sheet set up as follows:

Column A is "Date," which is the date I spent the money

Column B is "Date Posted," which is the date the transaction actually clears my bank

Column C is "Amount," or the amount spent/moved/deposited. This will be a positive or negative number depending on whether you are adding or subtracting money from the account

Column D is "Category," which is very important for making this data useful for a budget. Categories will probably be subjective but the ones that I mainly use are:

Bill - this is for a regular monthly expense necessary to live, like car insurance, electricity, the mortgage, phone, etc.

Debt - this is for money I flush down the toilet. I used to have a separate category for "Medical Debt" but now it's all just Debt. Credit card payments and student loans. And medical debt.

Gas - when I buy gasoline it gets its own category

Groceries - as the name implies this is when I buy food from a grocery store, as distinct from:

Takeout - this is when I eat out, have delivery, fast food, etc., unhealthy sodium-saturated food prepared by someone else for immediate consumption

Misc - this is the useless category in which all other spending is absorbed, including my irresponsible purchases.

I also have the following categories:

Deposit - for when money goes in

Transfer - for when money is moved to or from another account

Withdrawal - for when I remove cash

Obviously you could have other categories for expenses you want to track more closely. Clothing might warrant its own category, or books, or snacks, which are sort of between takeout and groceries, or whatever.

Column E is "Location," which is where I spent the money. I usually try to write this how it appears on my ledger, which is not always where I remember physically spending it. For example, my wife's Old Navy card shows up as Barclay Card on the ledger, which has been the object of much confusion, leading to

Column F is "Notes," where I elaborate when Column E doesn't make very much sense. What is Barclay Card? Oh, the Old Navy card.

One place in which Columns E and F work together most regularly is on paydays, when E gives the name of the employer and F gives whose payday it is.

Column G just says "Balance," which I leave in cell G1 permanently, and then Column H / cell H1 is a running balance, which you can see above I let Excel calculate using a simple formula that takes the sum of all additions and subtractions in column C

Now, these features might be exclusive to Excel but I'm sure you could find equivalents in other spreadsheet programs. I have Row 1 / Top Row "Frozen" so that I can always see the column names and the balance as I scroll down. I also have columns A through F set to "filter," which is why they have the little drop-down arrow on the right-hand side, and this, as the name implies, lets me filter. So if you want to look at a specific category, or specific place, or something. I most often use this to filter out all but the current month in Column A, and to keep my transactions in the right chronological order.

Once its set up, and this is the painful part, you need to keep track of every single penny you spend. You can do this in the old-school way by keeping receipts or if you have online banking and they're pretty on top of things you can look at your bank ledger at the end of the day and add the day's transactions then. But if you let it sit more than a day or two you will have unpleasantness and it will only get worse the longer it sits. This is where having a Date and Date Posted column comes into play. There are some bills I have that take several days to post. My mortgage for example, which is my largest single bill, takes about four days to clear. My wife's student loans, the second largest bill, take about a week to go through. So I put those on my ledger the day I submit the payment and then they show up in the bank ledger a few days later and I note that as well. PayPal transactions also tend to take several days to go through. The other reason having a Date and a Date Posted column is nice is when you have to self-audit because there's a discrepancy between your balance and the bank’s, you can use the sort/filter function to sort your transactions by the date posted which makes it easier to compare your ledger to your bank.

The other thing I do is I have a little portion of the spreadsheet off to the side where I keep all of my fixed bills and their due dates and keep track of when I pay them in a month. The Unpaid / Paid cells at the top are so I can copy and paste the format of those cells as the month goes on. As the months go on I have to cut and paste this to keep it close to the end of the ledger. You don't really need to have this but I do, it helps me decide which paycheck pays which bills and when every month.

The other thing is I have a different sheet for every year, because I don't want a spreadsheet with 10,000+ rows. You could have a different sheet for every month or whatever, I don't know. I did it by year.

If you keep on top of this you will know better than your bank how much money you have at all times.

[newkiqx]

I always want to know what the numbers mean in todays money, so for convenience I listed the results of an inflation calculator for the amounts:

1969 tweet claims:

1969 house price: ~$144k

1969 down payment: $425

1969 monthly payment: ~$1532

1936 year in review from the 'pages of yore - nostalgia news report':

yearly income: ~$38k

new car: ~$16.5k

new house: ~$88k

loaf of bread: $1.80

gallon of gas: $2.25

gallon of milk: $10.79

gold per ounce: ~$464

silver per ounce: $8.54

[fingofinance]

Novated Leasing Electric Vehicle: Future-Proof Your Driving with Great Tax Savings

In a world rapidly shifting towards sustainability, Novated Leasing Electric Vehicle options are becoming increasingly popular. These arrangements not only align with eco-friendly goals but also present significant financial benefits for employees and employers alike. Let’s dive into why this leasing option is a game-changer for both your wallet and the planet.

What is Novated Leasing?

Novated Lease is a three-way agreement between an employee, their employer, and a leasing company. This arrangement allows employees to lease a vehicle using pre-tax income, reducing their taxable salary and ultimately saving money. Employers handle the payments through salary deductions, making it a seamless process for both parties.

When applied to electric vehicles (EVs), novated leasing becomes even more appealing due to the unique advantages these cars offer.

Why Choose a Novated Leasing Electric Vehicle?

Switching to an electric vehicle under a novated lease offers a range of benefits that cater to modern lifestyles and sustainability efforts:

1. Cost Savings Through Tax Benefits

A Novated Lease Calculator can demonstrate the potential tax savings from leasing an EV. These savings stem from reducing your taxable income and taking advantage of Fringe Benefits Tax (FBT) exemptions that many electric vehicles qualify for. This makes EVs a financially smart choice.

2. Environmental Benefits

Electric vehicles contribute significantly to reducing greenhouse gas emissions. By choosing an EV through novated leasing, you’re not just saving money—you’re making a meaningful contribution to a healthier planet.

3. Lower Running Costs

Electric vehicles are known for their lower operating expenses compared to petrol or diesel cars. From reduced fuel costs to fewer maintenance needs, the overall expense of running an EV is significantly lower.

4. Access to the Latest EV Models

With a novated lease, upgrading to the latest EV model every few years is easier. This means you’ll always have access to cutting-edge technology and improved range capabilities without worrying about depreciation.

5. Simplified Budgeting

A novated lease bundles costs like registration, insurance, and maintenance into one manageable payment. This makes it easier to keep track of your expenses and avoid unexpected bills.

How Does a Novated Lease Calculator Help?

Understanding the financial benefits of a Novated Lease is crucial, and that’s where a Novated Lease Calculator comes in. This tool allows you to:

Estimate your potential tax savings

Compare the costs of leasing different EV models

Determine the overall affordability of a novated lease

Using a calculator ensures you make an informed decision tailored to your budget and lifestyle.

Testimonials: Real Stories from Novated Lease Users

"Switching to an EV through a novated lease was the best decision I’ve made! The tax savings were incredible, and I love the convenience of having everything bundled into one payment. Plus, driving an EV feels great knowing I’m reducing my carbon footprint."

— Sarah J., Sydney

"The Novated Lease Calculator was a game-changer for me. It showed me exactly how much I’d save, and it helped me choose the perfect EV for my needs. The process was straightforward, and I couldn’t be happier with my decision.”

— Michael T., Melbourne

The Role of Employers in Novated Leasing

Employers also stand to benefit from supporting novated leases for electric vehicles. Offering such arrangements can:

Attract and retain top talent by providing desirable benefits

Demonstrate a commitment to sustainability

Enhance the company’s green credentials

By facilitating novated leases, employers can create a win-win situation for themselves and their employees.

Key Considerations for Novated Leasing Electric Vehicles

While the advantages are clear, there are some important factors to keep in mind:

Eligibility: Check if your employer offers novated leasing and confirm which EV models qualify for FBT exemptions.

Residual Value: At the end of the lease term, you may have the option to purchase the vehicle by paying its residual value. Ensure this aligns with your financial goals.

Usage Requirements: Understand any mileage limits or usage restrictions associated with the lease.

The Future of Driving is Electric

As governments and industries worldwide push for sustainable transportation, electric vehicles are becoming the norm. By opting for a Novated Leasing Electric Vehicle, you’re not just future-proofing your driving but also taking a significant step towards a greener, more cost-effective lifestyle.

Whether you’re an employee looking to maximize your income or an employer aiming to boost workplace benefits, novated leasing makes EVs accessible and affordable. Use a Novated Lease Calculator to explore your options today and join the movement towards sustainable driving.

[amnotaqueen]

Using Food As A Way To Control

I generally do grocery shopping for our household every Thursday. I have done this for years. Lately, I have been asking my husband, double-checking if there is enough money on the credit card or the debit card now for me to shop. When I messaged him on Wednesday morning to ask him, he never replied back. So, I asked him Wednesday evening. He was annoyed that I keep asking him. I asked if I could shop on Thursday, if not, to tell me which day. He at first said he gets paid on Thursday. That doesn't answer the question. I asked if there would be money available for me to shop Thursday morning. He said he didn't know when the money would post. Doesn't make sense to me because when I worked in payroll, we could tell people by when to expect their money to be deposited into their accounts. He played dumb, but eventually said the money should be there by Thursday afternoon.

I felt all along that he was setting me up to be humiliated in public. Him not answer my questions, him giving indirect responses to my questions, playing dumb, acting like he doesn't know why I keep asking. Of course, I keep asking because sometimes I have gone to get gas and the card is declined. Or I go to buy dinner and it is declined. Or I go to buy anything over the counter medication for our son and it is declined. And at no time does he express that I hold off making any purchases due to lack of money or a need to cancel a card. He prefers and enjoys to allow me to find out at the time of purchase.

To keep asking him is giving him too much attention, he likes the begging and he likes withholding from me. He knows I cannot definitively say he is lying unless I go shop and find out with my payment not going through.

So, I went grocery shopping on Friday morning (to make sure to give his check time to post), fully expecting to have my card declined. We went to our evening meeting on thursday in peace (silence with no interaction is our peace) despite the horrific morning events. Friday morning was calm enough. Our son made it to school in peace. But of course, he held a grudge from Thursday morning's events and he has to have his revenge in some fashion. So, I was in expectation.

On Friday morning, I took time to make my grocery list. I spent an hour and a half grocery shopping, because I use an app to calculate everything to try not to go over the budget. I weigh produce and calculate the exact costs before putting into the cart. I used the self-check out lane and scanned all my items. The attendants were monitoring so I was dreading the attention I would get once my purchase didn't go through. I inserted the card. Payment declined. I called my husband. He naturally gaslighted me, trying to make me think we had not discussed that I would go shopping on Thursday, at first, and then I changed to Friday to make sure his check had time to post, based on what he told me. He flat out lied and said he didn't know I was going shopping. I had messaged him about it. I spoke to him face to face. Plus I always go shopping once a week on Thursday. After denying that he knew I was planning to shop, he said something about a replacement card might be coming. So, he failed to tell me that the card I had was useless because he ordered a replacement. Very purposeful. Very mean. This is what narc husbands do to regain control. All because I wanted to give my son more protein at breakfast time.

I had to leave the food. I apologized and left. Now, I can only wonder how long it will be before I can shop again for food, or if I ever will be authorized by him to shop with his card. Today, it was more nonsense. At 1:30, I had my son sit down to eat lunch. He was repeatedly saying he was hungry, running back and forth between me in the kitchen and his dad outside. I was aware that he was having our son help him sometimes with the car he was working on by asking him to get him a washcloth or things like that. My son didn't seem to be glued to his hip and was running in and out, so I didn't feel like his dad would be upset if he came in for lunch. After all, it was lunchtime.

Well, he came storming in demanding that I ask him if our son can come in to eat lunch if he is outside with him. I truly didn't realize that not having our son outside with him was detrimental to what he was doing. I didn't realize our son's stopping to eat lunch was such a hindrance to the work he was doing. Like, I said, he was running in and out and while he was in checking if I had food ready for him, I asked him to sit down and eat.

What type of Christian father demands that before his son is allowed to sit down and eat lunch when it is lunchtime and his son is obviously hungry, that he be asked first and whenever he gives permission, the son can go. Well, I know my husband does not care when our son is hungry. He doesn't care if it's lunchtime, doesnt even keep track of time that way. He said he didn't care about lunchtime, today when I said "But it's lunch time".

We exchanged words because I thought he was ridiculous. He is a 7 yr old kid with special needs. He is not his hired worker whom he depends upon to get jobs done. Even his workers at his business have a lunchtime, at which time they drop everything to go eat. They leave when it's time to clock out at 5pm. But my son and I don't get to clock out, or take breaks, or rest, or eat unless and only if he consents to it or else we have to pay.

There is no goodness in him. No love whatsoever. I resisted his nonsense and told him that instead of my asking him if our son could go eat lunch, he should have been keeping track of the time and asking our son if he was hungry and ready to eat lunch. He should have sent him to me to eat lunch. He started threatening me, telling me if I did that again to see what would happen. He muttered, "I guess I will have to throw out more food." Absolutely diabolical.

[superkilometerfilter]

What Does Mileage Reimbursement Cover and What Benefit Does It Have for Vehicle Owners?

Mileage reimbursement is a common practice in many modern businesses. It compensates employees for using their automobiles for work-related activities. This agreement ensures that the automobile owners receive rightful compensation. However, the specifics of the coverage and how you receive payments remain unclear. There are essential components that might confuse a lot of customers and create false expectations. In this blog, we will cover the reimbursement procedure in detail and provide you with all of the necessary details and tips.

The Essential Concepts of Mileage Reimbursement

Mileage reimbursement is an important part of employee compensation. This financial system was created to reward employees who use personal vehicles for work-related activities. It’s critical to separate mileage reimbursement from standard salary raises or performance bonuses. So, what does mileage reimbursement cover, and what benefit do you get? It serves as a targeted reimbursement method to cover travel expenditures spent for work. The Internal Revenue Service (IRS) has a significant function in standardizing mileage reimbursement across the United States. Annually, the IRS publishes an official mileage rate that acts as an initial guide for businesses across the country. For example, for the fiscal year 2024, the IRS reimbursement rate has been 67 cents per mile. This figure includes all of the costs connected with operating a vehicle for business, including gasoline, vehicle depreciation, insurance, and maintenance fees. Organizations that follow this rate maintain fair and consistent reimbursement policies. This also reduces the administrative processes in managing employee travel expenditures. In the modern business setting, this strategy encourages transparency and equal treatment in spending management, which benefits both employers and employees.

What Does Mileage Reimbursement Cover?

Mileage reimbursement covers various types of vehicle expenses, such as fuel costs, insurance premiums, vehicle depreciation expenses, tire wear and tear, repairs, and general maintenance costs. These reimbursement amounts, types, and conditions vary based on the employer and their location. To clarify what it includes, let’s take a look at all the major aspects that it covers. The modern mileage reimbursement system includes the following aspects:

Fuel costs;

Insurance;

Vehicle depreciation;

Tire wear and tear;

Maintenance and repairs;

Let’s see what mileage reimbursement includes:

Fuel Costs: Fuel expenses often take a significant amount of driving expenses. These are daily costs that add up every time you use your automobile. If you are wondering, it makes no difference whether you drive a gas-guzzling SUV or an eco-friendly hybrid – the rate remains the same.

Insurance: You should know that the cost of your auto insurance does not vary if you use the vehicle for work. However, the mileage rate includes part of insurance costs, which will help you make up for the overall expense.

Vehicle depreciation: Over time, vehicles lose their value. The reimbursement includes a portion to cover the decrease in your car’s value. For instance, if you bought a car for $20,000 and it is now worth $15,000, you have a depreciation of $5,000. The rate usually compensates for part of it.

Vehicle Tires wear out the fastest. The more you drive, the more harm is done to them. Whatever type of tires you require, the rate will cover some of the costs.

Maintenance and repairs: Of course, when you travel, your auto requires frequent oil changes, more replacements, and several routine maintenance. Your mileage reimbursement also takes this components into consideration.

How to Calculate Mileage Reimbursement?

Calculating business mileage reimbursement is straightforward. You need two simple steps to calculate the exact amount. Hence, you need to follow these steps:

Step 1. Track your business miles. Step 2: Multiply the number of miles by the reimbursement rate. Let’s see how it works based on the example. First, you need to know how many miles you have covered. Imagine you drove 80 miles for work this week. Then, you need the reimbursement rate. The current reimbursement rate is 67 cents per mile. To calculate the mileage reimbursement amount, you need to multiply the miles by the rate. So, the reimbursement would be 100 miles x $0.67 = $67. Companies often use mileage-tracking apps to speed up and simplify the process. These apps can instantly track your mileage and simultaneously calculate your mileage reimbursement.

What are the Differences Between Mileage Reimbursement and Actual Expenses?

Many firms allow workers to choose between mileage reimbursement and real expenditure reimbursement. This flexibility allows you to choose the approach that best matches your circumstances. Let’s analyze the main differences and benefits of each strategy. Actual expenses require precise documentation. This complex method includes gasoline costs, maintenance fees, insurance rates, and even depreciation. The company (employer) then reimburses you for the portion of the expenses that are directly linked to business use. For instance, if your work-related driving is 40% of your total vehicle usage, the company would reimburse you for 40% of documented vehicle expenses. Actual expenditure reimbursement may be helpful for several scenarios:

Employees who own expensive or high-performance automobiles with significant operational expenses may profit from this strategy.

Extensive business travel: Those who travel frequently for work may be able to reclaim a greater portion of their real expenditures.

Older car maintenance: People using older automobiles that need regular repairs may find this strategy more financially lucrative.

Fluctuating gasoline prices: In areas where gas prices are variable, actual expenditure reimbursement can better represent current expenses.

While this approach might have prospective financial benefits, it needs careful tracking and an extensive understanding of car expenditures. Employees must balance the possible rewards with the necessary administrative effort.

Mileage Reimbursement and Taxes

Mileage reimbursement and tax requirements typically cross in a variety of ways. A solid understanding of them will allow you to save money and prevent difficulties with tax processes. First, let’s clarify a frequent misconception: correctly handled mileage reimbursements are not taxable income. If your company compensates you at or below the IRS standard rate (67 cents per mile), and you keep accurate records of your business travels, you’re fine. This money will not appear on your W-2. Therefore, you are not obligated to report it. But what happens if your firm is really generous? If they repay more than the IRS rate, the surplus is taxable income. For instance, if you are refunded 75 cents per mile, the additional 8 cents every mile will be reported on your W-2 as taxable income. In addition, self-employed individuals are in a different situation. They can deduct mileage charges straight on their tax forms, which might result in large tax reductions. However, they must choose between the regular mileage rate and actual costs for the year; no mixing and matching is permitted. Here’s a useful tip: always keep accurate records. The IRS enjoys paperwork. A comprehensive mileage record may turn into your greatest friend if you ever get inspected. You can also install a mileage monitoring tool to streamline the process and verify accuracy. Remember that tax regulations change regularly. So, always stay informed and check with a tax professional to maximize your advantages while minimizing your tax liability. To sum up, here are the scenarios when the mileage reimbursement is not taxable:

It doesn’t exceed the IRS standard rate. It can be equal to or less than the IRS mileage rate;

You provide an accurate record of your business mileage;

If your company compensates more than the official standard IRS rate, the excess is taxable income;

Self-employed persons can subtract mileage charges on their tax forms. They apply the identical IRS standard rate.

Tips to Maximize Your Mileage Reimbursement

The following tips can help you significantly boost your mileage reimbursement and, hence, your financial resources.

Mileage tracking: Do not ignore minor trips. Even little trips might result in significant distance over time. Make a practice of tracking every business-related mile, regardless of how minor it appears.

Leverage Technology: Adopt contemporary mileage monitoring devices. Many mobile apps provide GPS-based tracking that simplifies the procedure and increases accuracy. Such instruments usually produce extensive reports that make it easier to file claims and keep records.

Know Your Company’s Policy: Understand the company’s compensation policies. Some firms provide higher rates than the IRS rates, which might increase the amount you receive. Understanding these details can result in huge financial gains.

Maintain Precise Records: Log the purpose of each journey, not simply the mileage. Try to include specific details such as customer names, meeting places, and company objectives. This information not only meets prospective audit requirements but also helps to substantiate your claims to your employer.

Periodically examine and adjust your mileage claims and reimbursement approach. As your work habits or business regulations change, be ready to modify your strategy to optimize your reimbursement.

What Is Mileage Blocker Tool for?

The Mileage Blocker is a device that stops the mileage recording process. It was designed for automotive testing and allows experts to optimize autos without raising miles traveled. The mileage blocker has numerous unique features that make it the most desirable gadget on the market.

The mileage blocker is untraceable. It does not keep mileage information on ECUs, therefore the system is unable to locate data regarding new miles.

It is assembled out of high-quality components, which improves the device’s effectiveness and longevity.

The blocker has many settings, and you may select your preferred one.

It features a mobile app that allows you to operate the gadget remotely via phone.

The SKF mileage blocker includes simple installation instructions.

The mileage blocker has been created exclusively for legal and ethical objectives. Nobody should use this gadget to avoid local legislation.

You must use it in a regulated setting. The item is accessible on the Super Kilometer Filter website and can be purchased right now. For further information, please contact the customer care and support staff.

Takeaway

Mileage reimbursement is the practice of compensating employees who deploy personal vehicles for their jobs. It includes several automobile aspects, such as fuel, depreciation, maintenance, and insurance. The reimbursement rates change annually, and the IRS regulates the issue. Hence, you need to check the correct rate for compensation every year.

[alwayscollective]

How to Budget Effectively When Renting an Apartment with Utilities Included

Renting an apartment is a significant financial commitment, and understanding how to manage your budget is crucial for a stress-free living experience. When you choose apartments with utilities included for rent, you can simplify your budgeting process and gain better control over your finances. In this blog, we’ll discuss effective budgeting strategies to help you thrive in your new home.

1. Understand Your Total Monthly Costs

When renting an apartment with utilities included, the first step is to understand what your total monthly costs will look like. While the rent covers utilities like water, electricity, and gas, there may still be additional expenses to consider, such as:

Rent: The fixed monthly amount for your apartment.

Internet and Cable: Often not included in utilities, so budget for these separately.

Renter’s Insurance: A small but important cost that protects your belongings.

Groceries and Household Supplies: Essential living expenses that vary based on personal habits.

Tip: Create a detailed list of all potential monthly expenses to get a clearer picture of your financial obligations.

2. Create a Realistic Budget

Once you understand your total costs, it’s time to create a budget. Here’s a simple approach:

A. Track Your Income

Calculate your total monthly income from all sources, including your salary, side gigs, or other income streams.

B. Allocate Your Expenses

Use the following guidelines to allocate your income:

Housing Costs (30%): Aim to spend no more than 30% of your monthly income on rent and utilities combined.

Groceries (10-15%): Plan for your grocery bills based on your eating habits.

Transportation (10-15%): Include costs for public transit or fuel for your car.

Savings (10-20%): Set aside a portion of your income for emergencies and future goals.

Discretionary Spending (10-15%): Reserve money for entertainment, dining out, and other non-essential expenses.

Tip: Use budgeting apps like Mint or YNAB (You Need a Budget) to help you track your expenses and adjust as necessary.

3. Take Advantage of Fixed Costs

One of the key benefits of apartments with utilities included for rent is the predictability of costs. With fixed utility payments, you won’t have to worry about fluctuating bills each month. This allows you to budget more effectively and plan for savings.

Tip: Keep an eye on your utility usage, even if it’s included in rent. Being mindful of your consumption can lead to good habits and potential savings in the long run.

4. Plan for Unexpected Expenses

Life is unpredictable, so it’s essential to set aside some money for unexpected costs. Even in apartments with utilities included, you might encounter:

Repair Costs: While major repairs are usually the landlord’s responsibility, minor repairs can arise.

Emergency Expenses: Medical bills or car repairs can pop up unexpectedly.

Tip: Aim to build an emergency fund that covers 3-6 months of living expenses. This will provide peace of mind and financial stability.

5. Review and Adjust Regularly

Your budget should be a living document that evolves with your circumstances. Regularly review your income and expenses to ensure you’re staying on track.

Tip: Set aside time each month to assess your budget. Adjust categories based on your spending habits and any changes in income or expenses.

6. Explore Cost-Saving Strategies

While living in an apartment with utilities included simplifies many aspects of budgeting, there are still ways to save money:

Cook at Home: Reduce dining-out expenses by preparing meals at home.

Utilize Free Resources: Take advantage of community events and free entertainment options.

Use Public Transportation: If possible, opt for public transit to save on fuel and parking costs.

7. Conclusion

Budgeting effectively when renting apartments with utilities included can lead to a more manageable and enjoyable living experience. By understanding your total costs, creating a realistic budget, planning for unexpected expenses, and regularly reviewing your financial situation, you can set yourself up for success.

If you’re considering apartments with utilities included for rent, use these tips to make the most of your new home and keep your finances in check. Happy budgeting!

[ejesgistnews]

A Comprehensive Guide to Personal Loans and Smart Borrowing. Personal loans can be a valuable financial tool for various needs, from covering unexpected expenses to consolidating debt. Here’s a detailed guide to understanding the different types of personal loans and their benefits. Types of Personal Loans 1. Unsecured Personal Loans Description: These loans do not require collateral, meaning you don’t have to pledge any assets to secure the loan. Benefits: No Collateral Required: Reduces the risk of losing personal assets. Quick Approval: Often faster to process since no asset valuation is needed. Flexible Use: Can be used for various purposes, such as medical expenses, education, or travel. 2. Secured Personal Loans Description: These loans are backed by collateral, such as a car or property. Benefits: Lower Interest Rates: Typically offer lower interest rates due to reduced risk for the lender. Higher Loan Amounts: Can borrow larger sums compared to unsecured loans. Improved Approval Chances: Easier to qualify for if you have valuable assets. 3. Fixed-Rate Loans Description: These loans have a fixed interest rate that remains the same throughout the loan term. Benefits: Predictable Payments: Easier to budget with consistent monthly payments. Protection Against Rate Increases: Shielded from rising interest rates. 4. Variable-Rate Loans Description: These loans have an interest rate that can fluctuate based on market conditions. Benefits: Potential for Lower Rates: May start with a lower interest rate compared to fixed-rate loans. Flexibility: Can benefit from decreasing interest rates. 5. Debt Consolidation Loans Description: These loans are used to combine multiple debts into a single loan with one monthly payment. Benefits: Simplified Payments: Easier to manage one payment instead of multiple. Lower Interest Rates: Can reduce overall interest costs if the new loan has a lower rate.   Top 10 Tips For Choosing The Right Insurance Policy You Need To Know 10 Best Seniors Auto Insurance Options for 2024/2025 How To Reduce Your Gas And Electricity Bills: Top 10 Tips You Need To Know Benefits of Personal Loans Access to Quick Funds: Provides immediate cash for emergencies or planned expenses. Flexible Use: Can be used for a wide range of purposes, from home improvements to medical bills. Fixed Repayment Schedule: Helps with budgeting and financial planning. Improves Credit Score: Timely repayments can boost your credit score. How to Secure a Business Loan in Nigeria Securing a business loan in Nigeria can be challenging, but with the right approach, you can increase your chances of success. Here’s a step-by-step guide to help small business owners secure funding. 1. Develop a Solid Business Plan A comprehensive business plan is crucial. It should outline your business model, market analysis, financial projections, and how you plan to use the loan. A well-prepared plan demonstrates your business’s potential to lenders. 2. Determine the Loan Amount Calculate the exact amount of money you need for your business. Be specific about how the funds will be used, whether for purchasing equipment, expanding operations, or covering operational costs. 3. Choose the Right Type of Loan Different types of business loans are available, including: Term Loans: Lump sum repaid over a fixed period. Lines of Credit: Flexible borrowing up to a certain limit. Microloans: Small loans for startups and small businesses. Equipment Financing: Loans specifically for purchasing equipment 4. Meet Eligibility Requirements Lenders have specific criteria, such as: Business Registration: Ensure your business is legally registered. Credit Score: Maintain a good credit score. Financial Statements: Provide audited financial statements for the past two years. Collateral: Be prepared to offer collateral if required. 5. Prepare Financial Documents Gather all necessary financial documents, including:

Income Statements Balance Sheets Cash Flow Statements Tax Returns 6. Research Lenders Identify potential lenders, such as banks, microfinance institutions, and online lenders. Compare their interest rates, loan terms, and eligibility requirements. 7. Apply for the Loan Submit your loan application along with the required documents. Be prepared to answer questions about your business and financials during the review process. 8. Follow Up Stay in touch with the lender throughout the application process. Promptly provide any additional information they request to avoid delays. 9. Utilize the Funds Wisely Once approved, use the loan funds as outlined in your business plan. Proper utilization of the loan can help grow your business and improve your chances of securing future funding. 10. Repay on Time Ensure timely repayment of the loan to maintain a good relationship with the lender and improve your creditworthiness for future loans. 5 Essential tips for Smart Borrowing. Here are five essential tips for smart borrowing to help you manage your finances effectively: 1. Know Your Numbers Before applying for any loan, it’s crucial to understand your financial situation. Check your credit score and debt-to-income ratio. A higher credit score can help you secure better loan terms, while a manageable debt-to-income ratio ensures you can handle additional debt without financial strain. 2. Differentiate Between Good and Bad Debt Not all debt is created equal. Good debt, such as student loans or mortgages, can help you build wealth over time. On the other hand, bad debt, like high-interest credit card debt, can be financially draining. Focus on borrowing for investments that will appreciate in value or improve your financial situation. 3. Shop Around for the Best Rates Don’t settle for the first loan offer you receive. Compare rates from multiple lenders to find the best deal. Look for transparent terms and conditions, and consider both traditional banks and online lenders to ensure you’re getting the most favorable terms. 4. Understand the Terms of the Loan Read the fine print before signing any loan agreement. Make sure you understand the interest rate, repayment schedule, fees, and any penalties for early repayment. Knowing these details can help you avoid unexpected costs and manage your loan more effectively. 5. Create a Repayment Plan Have a clear plan for repaying your loan. Budget for your monthly payments and consider setting up automatic payments to avoid missing due dates. Paying off your loan on time can improve your credit score and make it easier to borrow in the future. By understanding the different types of personal loans and following the steps to secure a business loan, you can make informed financial decisions that support your personal and business goals. Whether you're looking to cover unexpected expenses or expand your business, the right loan can provide the financial boost you need. Remember to borrow responsibly and manage your debt effectively to ensure long-term financial stability

[aestheticlifestyle33]

Ok. Saving to move to Texas! I did all sorts of calculations and for me to be down there comfortably moved, I need to save $12,000👼 Not only will I have a body of a Cheerleader✨️ but I will live in Dallas Cowboys Cheerleaders state🤣

Calculation breakdown:

Flight✈️ $800 (visit/get keys lease agreement😌)

Property application fee/down payment $2000

Savings(rent/3mos) $5000

Savings(furniture/homegoods/internet,Amazon/Burlington)$2000

Uhaul $1900 (bring kitties and my decor)

Gas/etc $600

$12k

Savings(car down payment) $2000

Start TikTok/youtube on journey asap🌿 in case I go missing🤣

Save $900 a month(9mo $450 per paycheck) $8100

Donating-$45 x2 $360/m=$3200

Ubereats ($200/week=$7200/9mo or $100/week=$3600)

Pay credit card in FULL! Pay debt in FULL! $2000 Credit goal: 680/700!

I have cost of everything in order to move/cost of how much I'll have when saving for 9mos! Goal is to leave June2025♡

again, no excuses... I have to put myself first in order to be happy and start a new life out of state because my ex husband would hold our kiddos over me, but he didn't realize I would reverse uno his ass and say, im just going to move my ass down there solo dollo, and turn around and try for full custody. Either way, it'll suck for either parent (who has full and who does not), but that's why I need to just move down there myself. Get everything in order first and go from there😌

I know when I fly my ass down there, I know he'll be like, "Wait...? She's visiting Texas for what?"🤣 he claims he wants full custody but I know for a fucking fact, after a good 2/3 months when he'll be in charge of EVERYTHING no help from me🤣🤣🤣 and/or when his parents stop helping 1000% and back to 20% because they have a life too, that's when reality will click. He should have just moved down there with me from jump instead of leading me on with false hope and promises🙄

[esgjuly]

A Brave Strategic Step to Address Climate Change is the Carbon Border Adjustment Mechanism (CBAM).

Being one of Agile Advisors' top CBAM regulations, it is expected to become more stringent over the next few years. Let's examine CBAM and learn about its history. The CBAM is the first carbon border tax in history, having been implemented by the European Union, according to information from The Carbon Trust. This company offers businesses answers to the climate challenge. Industries may relocate their production bases to nations with less harsh pollution control regulations due to the region's strict carbon emission controls. This may cause greenhouse gas emissions to be moved, with no real decrease in emissions. As a result, CBAM is comparable to a robust solution Europe selected to meet its net-zero emission target. The specifics indicate that the European Union's CBAM will concentrate on industries with significant carbon emissions for its first three years, including cement, fertilizers, iron and steel, aluminum, hydrogen, and power.

As a Carbon Border Adjustment Mechanism in Agile Advisors, other businesses will be included in the scope. There are two ways to calculate the amount owed for greenhouse gas emissions: 1) Indirect emissions, such as the quantity of power used, and 2) Direct emissions, which are carbon emissions from production activities, including machinery and cars. Many news sites have reported since late 2023 that Europe has started enforcing the CBAM, which many may take as the start of fee collection. That isn't the case, though. The CBAM will be implemented in two key stages: the first, known as the Transition Period, will run from October 1, 2023, to December 31, 2025. During this time, importers will be required to report the embedded emissions of their products, or greenhouse gas emissions, before moving on to the complete enforcement phase, which will begin on January 1, 2026.

In our opinion as CBAM in Agile Advisors, in addition to reporting embedded emissions, importers must provide proof of payment for carbon fees or CBAM certifications during this period. Companies that import products into the European Union must rely on data from their international partners about greenhouse gas emissions. Due to this need, there is an increased administrative cost and risk to business operations due to having to revisit the data sources. Businesses in the supply chain have to change to meet this requirement. Bloomberg advises companies with global supply chains to prepare for the CBAM regulations as soon as possible to take advantage of economic prospects. Reports on greenhouse gas emissions must be prepared in the first phase. This will reduce the possibility of breaking trade laws and enable businesses to assess their trading practices before the CBAM's full implementation in 2026.

We believe as a CBAM regulations, the European Union's CBAM is a noteworthy development that inspires other nations to embrace comparable ideals. This program, which involves nations like the United States, Turkey, Australia, and the United Kingdom, attempts to establish a standard for importing goods with lower greenhouse gas emissions. As a nation that exports to the European Union, Thailand will inevitably be impacted by the Clamor instance, it raises the price of Thai goods imported into the EU, which lowers exports to EU nations and increases the cost of manufacturing items in Thailand. It affects, in particular, the price of getting certified and changing production methods to be more ecologically friendly and compliant with international standards. Krung Sri Research Intelligence has interestingly evaluated the impact of the CBAM on Thailand.

In our understanding as Carbon Border Adjustment Mechanism, Thailand might not be greatly impacted because it exports a comparatively small percentage of the targeted items under the CBAM compared to other sorts of products. Thai exporters, however, will ultimately be impacted if the CBAM measure broadens its list of targeted commodities and is implemented in several nations. In the past, attempts have been made to include the plastics sector in the list of commodities CBAM targets. These ideas have yet to be accepted by the European Parliament. However, it is still being determined if chemical products will always be free from the CBAM regulations. As a result, the business community needs to get ready quickly to reduce the risks related to CBAM and carbon emission regulations.

[floorinsite]

Economic activity and social change in the UK, real-time indicators: 25 April 2024

Early data on the UK economy and society. These faster indicators are created using rapid response surveys, novel data sources and innovative methods. These are official statistics in development.

Table of contents

Main points

Latest indicators at a glance

Consumer behaviour

Business and workforce

Energy

Transport

Data

Glossary

Measuring the data

Strengths and limitations

Related links

Cite this statistical bulletin

Main points

Consumer behaviour indicators showed decreased activity in the latest week, with aggregate UK spending on credit and debit cards decreasing by 2% compared with the previous week, while overall retail footfall decreased by 3% (Bank of England CHAPS, MRI OnLocation). Section 3: Consumer behaviour.

The total number of online job adverts on 19 April 2024 was broadly unchanged when compared with the previous week, but 19% below the level seen for the equivalent period of 2023 (Adzuna). Section 4: Business and workforce. 

The System Average Price (SAP) of gas increased by 14% in the week to 21 April 2024; this was 20% below the level seen in the equivalent week of 2023 (National Gas Transmission). Section 5: Energy.

Both the daily average number of UK flights and traffic camera activity for cars in London remained broadly unchanged in the week to 21 April 2024 when compared with the previous week (EUROCONTROL, Transport for London). Section 6: Transport.

Consumer behaviour

UK spending on debit and credit cards: weekly, seasonally adjusted CHAPS-based indicator

These data series are real-time indicators for estimating UK spending on credit and debit cards. They track the daily CHAPS payments made by credit and debit card payment processors to around 100 major UK retail corporates. These payments are the proceeds of recent credit and debit card transactions made by customers at their stores, both via physical and online platforms. More information on the indicator is provided in the accompanying Guide to the Bank of England’s UK spending on credit and debit cards experimental data series.

Companies are allocated to one of four categories based on their primary business, we are currently publishing two of those categories:

“delayable” refers to companies selling goods whose purchase could be delayed, such as clothing or furnishings

“staple” refers to companies that sell essential goods that households need to purchase, such as food and utilities

Source: Calculations from the Office for National Statistics and Bank of England

Notes:

Users should note that the weekly payment data show the sum of card transactions processed up to the previous working day, so there is a time lag when compared with real-life events on the chart.

Percentage difference is derived from the current and previous index value before rounding.

Seasonal adjustment and trend estimates are calculated by the Office for National Statistics using data provided by the Bank of England.

Users should note that all series have been re-indexed, using their average value from 2023.

Overall retail footfall in the week to 21 April 2024 decreased by 3% when compared with the level seen in the previous week and decreased by 1% when compared with the level seen in the equivalent week of 2023.

All three location categories saw a decrease in footfall in the latest week. Shopping centre footfall had the largest decrease when compared with the level seen in the previous week, falling by 6%. Meanwhile, high street and retail park footfall also decreased, by 3% and 1%, respectively. When compared with the equivalent week of 2023, shopping centre and high street footfall again decreased, both falling by 2%, while retail park footfall remained broadly unchanged.

Overall retail footfall decreased in 9 of the 12 UK countries and regions when compared with the previous week. The largest decrease occurred in the East of England, falling by 8% of the level seen in the previous week. For the remaining 3 UK countries and regions, overall retail footfall increased in Northern Ireland by 4%, and remained broadly unchanged in Wales and the West Midlands.

When compared with the equivalent period of the previous year, overall retail footfall decreased in 8, increased in 2 and remained broadly unchanged in 2 of the 12 UK countries and regions. The largest decreases were seen in Northern Ireland and Scotland, with both decreasing by 6%.

Download full PDF here: https://www.ons.gov.uk/economy/economicoutputandproductivity/output/bulletins/economicactivityandsocialchangeintheukrealtimeindicators/25april2024/pdf

Source: Contracts Finder licensed under the Open Government Licence v.1.0.

[paypant]

The #1 Key To A Successful Budget

Have you tried making a budget? Was it successful? If it wasn't, there's a high chance you're missing the key components to a successful budget. Many believe budgeting to be time-consuming, daunting, and overall boring. If you share in this belief, here's the truth, budgeting is fun if you are doing it the right way. But what is the right way? In this article, I'll highlight the key to a successful budget, the right ways to plan and make a budget, budgeting tips, and the features of a successful budget.

#1 Key To A Successful Budget

If you have ever wondered why your budgeting plan doesn't work out, it could be that you lack the commitment to carry it out. Commitment is the #1 key to a successful budget. Anyone can make a budget. Once you review your income and expenses, you can easily come up with a realistic plan that aligns with your financial goals. But regardless of how realistic your budget is, it won't work out if you lack commitment to the plan. Therefore, commitment to a budget is what makes it successful. But as you know, commitment to a budget is easier said than done. It requires a high level of self-control and consistency. To build self-control and consistency towards a budget, you need to know the right way to make a budget.

Right Ways To Make A Successful Budget (Guide On How To Make A Budget)

If none of your budgeting plans have ever worked out, it's time to admit you're not doing it the right way. Here's a simple guide on how to make a budget that works. 1. Calculate and State Your Net Income Knowing your actual monthly income is the first step to having a successful budget. If you own a business, your profits less taxes is your net income. But if you're paid by an employer, the salary you receive is most likely your net income. Do not create a budget based on your total income. It makes you overestimate your goals and abilities. Having an understanding of how much you really earn ingrains a consciousness in you. This consciousness often arises when you're tempted to overspend. Thus, it is helpful. Once you're always conscious of your financial status, you will become more likely to stay on budget. 2. Track and List Out All Your Monthly Expenses Once you spell out your net income, listing out your monthly expenses is the next thing to do. Do not neglect an expense. List them all out. Doing this enables you to point out areas where saving is possible. It also helps you understand your spending pattern and how to cut down or stop certain spending habits. Start by listing out your fixed monthly expenses. Here are a few inevitable fixed expenses: - Rent or mortgage payments - Utility bills (internet and phone bills, water, gas, and electricity) - Groceries - Loan payments (car loans, student loans, and personal loans) - Insurance payments - Retirement Savings - Child Care Support Oftentimes, fixed expenses are inevitable and leave no room for adjustments or savings. So it is important to also list out your variable expenses regardless of how insignificant you think they are. Looking at your bank statement is a good way to discover your monthly variable expenses. Another Interesting Article: 21 Cheapest Ways to Live to Cut Your Living Expenses 3. Set Realistic Financial Goals Once you gain an overall understanding of your income and expenses, set a financial goal in mind. This goal must be realistic. Do not underestimate or overestimate yourself. Set a financial goal that can be accomplished. For example, if you have a smoking habit that eats into your income, set a budget that allocates funds for cigarettes. Most smokers overestimate themselves by setting a budget that does not include cigarette costs. They do this in hopes of saving money. However, they end up spending on it, making their budget plan a failure. The reason most budgets fail is due to their unrealistic goals. If you know you're incapable of cutting down on your monthly internet bills, do not set a goal that includes less amount for internet bills. Overall, be realistic. Know what you can and cannot do. 4. Make Adjustments To Your Expenses Once you set a goal in mind, make spending adjustments that align with the set goals. If your goal is to cut down on your monthly subscriptions, take a look at your subscriptions and choose lower-cost plans. Similarly, if your goal is to cut down on grocery expenses, you can begin to take advantage of coupons and deals offered by stores and sites. If you have a saving target in mind, study the expenses you make and find areas that can be adjusted. 5. Commit To The Budget This is the part most people seem to skip. Once you set a goal and create a budget, commit to it. Make stickers of your budget and place them where you can always see them. If this doesn't work for you, seek the assistance of a friend or family member. They can help supervise and manage your expenses. Another way to commit to a budget is by seeing it as a game or challenge. 6. Review Your Budget Regularly Always study and review your budget. Doing this can help you discover more savings opportunities. The process of reviewing your budget involves carrying out the steps and guide mentioned above.

3 Key Components Of A Successful Budget

For a budget to be successful, it has to possess the following components and features: Flexibility A flexible budget is a budget that can be adjusted. When making a budget, leave room for adjustments. This is because life is unpredictable. There are times when you'll have no choice but to overspend in a situation. Thus, your budget must be able to accumulate sudden changes without ruining your goals. Practical A well-planned and practical budget is a successful budget. If you set a high and unreasonable target, the chances of it being successful are low. Your budget must be created after carrying out a series of thoughts and research. It must align with your ability. Inspiring and Motivating A look at your budget should get you inspired and motivated. If you're motivated by your budget, it leads to consistency and commitment to the budget. Which in turn leads to a successful budget. To keep your budget inspiring and motivating, engage in saving games and challenges. Give yourself a prize or reward each time you complete or accomplish a budget.

11 Tips For Budgeting

To get started on your budgeting journey, here are a few tips that could come in handy: 1. Budget To Zero Once you receive your salary, make a budget for every single dollar. When you give a name or task to every dollar, you'll be less likely to engage in overspending. This is called zero-based budgeting. 2. Involve a Friend or Partner Making budgeting plans with a trusted friend or partner increases your chances of having a successful budget. Plus, it's fun and motivating. 3. Make a New Plan For Each Month Each month comes with different expenses and saving opportunities. For example, you're most likely to spend more during Thanksgiving month. So, it is important to conduct a regular review of your budget. 4. Pay Off Debts First If you owe debts, your budgeting plan must prioritize paying off the debt. Some of the fastest ways to pay off debts include: - Debt Avalanche: This is when you focus on paying off debts with the highest interest rates. - Snowball Method: Unlike debt avalanches, this method suggests that you start by paying off the lowest debts. - Debt Consolidation: This method involves combining all your debts into a single account. 5. Set Goals Having a goal that aligns with your budget keeps you motivated. However, it is important to set practical and realistic goals. 6. Track Your Progress Keep track of how you're following your budget and goals. You can do this on a daily or weekly basis. When you keep track of your progress, you can easily point out areas you're lacking. 7. Do Not Use Credit Cards Using credit cards can lead to overspending. Stick to the use of cash or prepaid cards. Using cash makes you conscious of your expenses. 8. Use an Online Budgeting Tool There are tons of online budgeting tools that make budgeting easier. If you find it stressful or boring to analyze your income and expenses, try using online tools. 9. Be Lenient With Yourself When setting goals, give yourself some sort of grace. Do not go hard on your financial goals. Start by setting goals you can easily accomplish. Once you succeed at the first goal, aim for something higher. 10. Categorize Your Needs and Wants Prioritize your needs over your wants. If you can, cut down spending on things you can do without. 11. Try Automation There are tons of apps that make budgeting fun and easier. These apps offer features and tools that help you achieve your financial goals. Another Interesting Article: How to Cultivate a Budgeting Mindset in 4 Easy Steps

7 Best Budgeting Apps In 2024

Here are the best and unique budgeting apps to use in 2024: 1. Rocket Money (Formally TrueBill) This is one of the best budgeting apps to download. It is free but allows you to enjoy advanced budgeting tools for as low as $3 to $12 per month. Rocket Money is most known for helping users cut down on their expenses. This app tracks your spending and categorizes them. Read More: Rocket Money Review: Can It Really Cut Your Bills Automatically 2. PocketGuard PocketGuard is another popular budgeting app. It is well-known for its budgeting planning and bill-organizing tools. With this app, you easily pay off debts and achieve savings goals. Most of its tools are directed towards helping you pay off your debts. 3. EveryDollar This is a premium budgeting app with tons of advanced features. Some of which include bank connectivity, smart tracking, financial coaching, budget customization, export to CSV file, paycheck planning, custom reporting, and more. 4. YNAB You Need A Budget (YNAB) uses the zero-based budgeting method. Once you install and grant this app certain permissions, it'll assign a plan/task to every dollar you receive as income. YNAB analyzes your spending habits and categorizes them. It then proceeds to tell you how much should go into the various categories. 5. GoodBudget Good Budget is a unique budgeting app that uses the envelope method. The envelope method is a budgeting method that involves putting a cash amount of cash in labeled envelopes. Each labeled envelope with cash represents the amount you assign to an expense. This method enables you to easily track your expenses and know your financial stance. GoodBudget adopts this method. But rather than use cash, the app allows you to transfer/portion money to different online envelopes. 6. HoneyDue If you have a budgeting partner, this app offers budgeting tools that accommodate two people. It allows you and your partner to sync your bank accounts. It analyzes the spending habits of the two accounts and categorizes them - this makes it easy for couples to budget their finances together. 7. Personal Wealth This app acts as a budgeting, investment, and wealth management tool. Once you download this application, you'll be required to connect your bank and savings account, credit card, or retirement account. Afterward, you'll be free to enjoy tools such as an automatic budgeting tool, net worth tracking, savings planner, cash-flow overview, and more.

Conclusion

Overall, the key to a successful budget is commitment. The best budgeting plan can fall through if you lack commitment to the budget. The above article provides tips and guides that help you stay committed to a budget.

Frequently Asked Questions On Budgeting

Why Is Budgeting Important? Having a budget stops overspending, creates financial awareness, makes you prepared for financial emergencies, and makes you reach your goals. What Is The 50 30 20 Budgeting Rule? The 50/30/20 rule states that you should assign fifty percent of your net income to needs, thirty percent to wants, and twenty percent to savings or debt payments. What Is The Easiest Way To Make A Budget Budgeting applications make it easy to create a budget. Some free budgeting apps to consider include Mint, YNAB, PocketGuard, and GoodBudget. Read the full article

[tuesday8econlive]

Uber vs Buying a Car

UCI ID: 63264281

Marcus Lo

One of my largest weekly expenses is Ubering to and from my flight school at John Wayne Airport. As I was already going to have to consider whether to continue using Uber or buy a car, I thought it would be a good idea to do so more objectively from an economic perspective.

For my comparison, I will ignore the fixed cost of purchasing a vehicle since this is something I'll have to buy eventually.

Opportunity cost

Firstly, I'll check my spending for the past month on Uber trips. This is mainly to and from John Wayne with a few trips elsewhere.

The total comes out to $357.99 from Feb 12 - Mar 13

17 trips to John Wayne or back to UCI from John Wayne

3 trips elsewhere

How much would a car cost monthly?

Now I need to do some research on the monthly costs of owning a vehicle. I'll assume that I will buy a reliable secondhand vehicle such as a Toyota or Honda, for example.

I looked at this site which gave some insight into the various costs.

Parking

I would have to buy the resident pass

The resident pass is $135 a month.

Fuel

I'll estimate the cost of fuel by finding the distance of a trip to John Wayne and multiplying it by 24 for the 12 trips I'd make per month.

5.8x24=139.2 miles

This site gives the price of gas per month and year. I'll take the average of the past year and use that for my calculations, which is 4.4 dollars per gallon.

Type of car

Of course, the price I pay for gas is quite dependent on what type of car I get. For simplicity's sake, let's use two cars: the one I want and the one I'll probably get.

For a Miata, the average seems to be somewhere near 25-30mpg. I'll say 25 for comparison's sake.

And for a nice comparison, let's see it in comparison to a Prius, which sits around 57mpg due to its hybrid system.

So for the Miata, it would be 5.5 gallons or $24.2, and for the Prius, it's 2.4 gallons for an absurdly low $10.5. This doesn't sound very realistic to me, so we'll take the numbers from the website instead.

The site says on average one will pay $2390 annually for driving 15,000 miles, or 200 a month to drive 1,250 miles. Since that's over a thousand miles more than my calculations, I'll just split it in half to be very safe and say I'll pay 100 dollars a month for gas.

Insurance

Surely insurance will be expensive for me as I am a 19 year old international student with no history of vehicle ownership or a driver's license for that matter.

I'll use GEICO since it is the only car insurance brand I know of.

After a long survey, assuming I buy the Prius, my insurance comes out to this.

$130.98 per month

Maintenance

Since I don't know the exact costs, I'll go with Nerdwallet's $1500 a year divided by 12 for 125 a month.

Car ownership totals

135(parking)+100(gas)+130.98(insurance)=$365.98

or using the calculated gas estimate, $276.48

Price of Uber vs Price of Car

Just looking at this basic estimate for the cost of owning a car per month, it seems like the two are very similar. However, I need to think about the opportunity cost of both. Also, the car estimate allows me to travel much, much further on 365 dollars. The cost of driving a car is far lower than the cost of Ubering the more distance I travel.

Estimates place Uber at around $1-2 per mile, but mine are around $14-18 to get to John Wayne, which is more like $2.5-3 per mile. Not to mention it takes about $115 to get to LAX, or $2.6.

This graph gives me the cost curve of a car vs uber. costs are on the y axis while miles driven are on the x axis. The green line represents the fixed monthly cost of owning a car. According to this graph, it's more worthwhile to own a car if I drive more than 109.782 miles a month. When I used the fuel estimate I calculated for the Prius it beats the Uber price by almost a hundred dollars. But this highlights that the more I drive the better it would be to own a car vs using an uber.

Opportunity cost

This is what I'm giving up to use one good over the other.

The opportunity cost of Ubering is the time that is spent waiting for the driver, which usually takes around 10 minutes from order to arrival. There is also the consideration that my driver may have a dirty car, or be unpleasant to be around. I am giving up the freedom of being to go anywhere I want, which is especially important in Irvine, and the freedom from not having to maintain a car in exchange for being able to have the convenience of someone else driving me around and not having any burden to worry about. I don't have the ability to go where I want at a moment's notice without having to deal with telling drivers where to meet me and waiting for them to find the parking lot. Further, I am giving up money the more I drive and am giving up the opportunities that I may have had if I was able to move around as I pleased.

Meanwhile, the opportunity cost of owning a car is that I have to be responsible for it, taking care of it and maintaining it. I'd have to figure out where to park it during summers, where to get it maintained, and many other small parts that come with owning a vehicle. The cost is that I don't get the no strings attached freedom of Ubering and not having to worry about the actual ownership. I am forgoing the peace of mind that I don't have to worry about a car halfway across the world during summers, not to mention the fees I'd have to pay for it.

Verdict

It is clear to see that a car is worthwhile given two things:

I drive more than 109 miles a month

I can find a place to keep it during the summer

Uber has the upper hand when it comes to convenience and short trips, but a car easily wins out in the long term given the variable cost is mainly the fuel. Choosing between the two is between freedom and convenience.

[superkilometerfilter]

Is Business Mileage Reimbursement Taxable?

Business mileage reimbursement may be considered taxable income in particular cases; it mostly depends on the reimbursement method. Reimbursing mileage is a common practice that is beneficial for both sides. Employees don’t need to think of the financial side when it comes to work-related travel. Most states, including Oregon, California, and Massachusetts, are more employee-friendly than others. This means that they have labor laws that have a high standard of protecting employees who use personal vehicles for work-related purposes.

Work mileage reimbursement is a general concept that may take different forms. The most straightforward policy to employ and manage is to pay the IRS mileage rate. However, it is mostly questionable how reasonable a particular amount of money businesses pay to employees according to IRS law can be.

WHAT IS THE BUSINESS MILEAGE REIMBURSEMENT RATE?

The business mileage reimbursement rate for 2024 is 67 cents per mile driven for business use. The Internal Revenue Service issues a standard rate every year, so employers pay employees for using personal cars for work purposes. Each year, the calculation is based on an automobile’s fixed and variable costs. The fixed cost of owning a car is depreciation, licensing, insurance, and taxes, whereas variable expenses include maintenance, repairs, and fuel.

Sometimes, companies reimburse the exact amount of money a particular trip costs, or it is pre-determined, generally by the IRS mileage rate. Administering and applying IRS rates is generally more comfortable for employers because all they need is mileage tracking.

Generally, IRS mileage reimbursement is not considered taxable income of employees. Still, if employees pays more than that amount it may be regarded as compensation and be taxed by revenue service. Some may misunderstand the distinction between compensation and reimbursement. If the employer can demonstrate that all the vehicle expenses are matched to business use, reimbursement is considered reimbursement in all other cases when an employer doesn’t claim compliance between payment and business use of the vehicle. That’s why following the IRS reimbursement policy is always easier for companies to administer. Work mileage reimbursement is not the same for all types of organizations. Let’s look at what it’s like in different organizations.

IS THE STANDARD MILEAGE RATE DIFFERENT ACCORDING TO THE TYPE OF ORGANIZATION?

Yes, the standard mileage rate is not 67 cents for all types of organizations. It depends on the purpose of the organization. It changes from year to year. According to the 2024, standard mileage rates are as follows:

The standard mileage rate for business use has increased to 67 cents per mile in 2024.

For qualified active-duty members of the Armed Forces using a vehicle for medical or moving purposes, the rate has decreased to 21 cents per mile.

The rate for driving in service of charitable organizations remains unchanged at 14 cents per mile, as set by statute and consistent with the 2023 rate.

Those rates apply to all kinds of vehicles, including electric and hybrid-electric autos and gasoline and diesel-powered vehicles. Simply speaking, the calculation formula is as follows: reimbursement=miles*current rate; if the traveled distance is 300 miles, reimbursement will be as follows:

300*67= 20100 cents (201$) – for business use

300*21= 1407 cents (14.07$) – for armed forces moving and medical purposes

300*14= 4200 cents (42$) – for charitable organizations.

ARE ORGANIZATIONS OBLIGED TO USE THE IRS RATE?

No, Organizations don’t need to use the IRS rate for business mileage reimbursement. They have a choice of methods. But there is a danger of overpayment and underpayment. Alternative methods of reimbursing are the following:

Actual expenses include all the car’s costs, including insurance, gas, repairs, tires, registration fees, licenses, and depreciation.

Mileage allowance – monthly, fixed amount of money

FAVR (Fixed and Variable Rate) – implies both fixed expenses( depreciation, insurance, and changeable costs, such as fuel and repairs)

All methods mentioned above are not taxable if documents claim them. Employers and employees should perform proper recordkeeping about mileage and maintenance. As far as mileage, it should be reliable, and all the records should be genuine. Work mileage reimbursement can be taxable if reimbursement is more than actual expenses based on mileage or other documents.

It should be noted that reimbursement doesn’t apply to commutes. It only applies to work duties. For example, your company doesn’t reimburse you for your daily commutes. For proper business mileage reimbursement, there should be a clear distinction between business miles and commute miles. So, companies should use good mileage-tracking apps to avoid misunderstandings.

For example, if you drive 50 miles a day and your commute is 20 miles altogether, we should subtract 20 miles (commute) from 50 miles ( overall mileage), so your employer will reimburse 30 miles.

Mileage tracking and logging are vital, so they should be reliable. In the following paragraph, let’s discuss the reliability of that factor in further detail.

IS MILEAGE RELIABLE, AND WHAT CAN YOU DO IF IT IS NOT?

Unfortunately, mileage figures on the odometer are not always genuine and reliable, the first thing you can do is check the reliability of the odometer data. Unreliable odometer data means misleading work mileage reimbursement. There are two possible scenarios you may face:

Odometers are broken or not appropriately calibrated after the change. So, the information is misleading.

The odometer is “clocked” purposefully; dishonest individuals roll back it.

Odometer fraud is a common illegal practice in most countries. According to the NHTSA, it is defined as “the disconnection, resetting, or alteration of a vehicle’s odometer with the intent to change the number of miles indicated.”

There are specific steps individuals can take to prevent becoming the victim:

Check the automobile’s title and compare it with the odometer data.

Examine the tires. (tire change and maintenance are directly connected to the vehicle’s lifespan. If mileage is less than 10,000 miles and tires are replaced, it is a matter of suspect)

Examine the general wear and tear of the vehicle.

Check maintenance and inspection records and make conclusions

Trust the authoritative company, such as Carfax, and invest in vehicle history reports, so “clocking” is the widespread reason for misleading mileage data and, therefore, mistaken business mileage reimbursement calculation.

WHAT IS A SOPHISTICATED TOOL FOR ALTERING MILEAGE DATA?

A mileage blocker, made in Germany, is one of the most common tools used for altering mileage data in a controlled environment. It is designed for testing and tuning purposes; however, due to its untraceable performance, individuals use it to block recording mileage. The mileage blocker from the Super Kilometer Filter is a tool that stops recording mileage figures on the odometer without leaving a trace. It means that it is undetectable unconditionally. The module does not store information in any control unit, making it impossible for anyone to trace the mileage that was stopped while using the module, even with diagnostic testers.

This module allows you to test your vehicle’s performance in a controlled environment. It comes with a mobile application, and you can change modes conveniently without touching the device. You can purchase the module for any maker and model from Super Kilometer Filter.

Caution: Be mindful when using any tool, especially when you work for a company and receive work mileage reimbursement from your employer. Misleading information can lead to misunderstandings.

TAKEAWAY

To make the reimbursement non-taxable, following the rules and avoiding overpayment and underpayment is essential. For that purpose, proper recordkeeping is crucial. A business mileage reimbursement form is a document that includes the following details: employer’s name, date, starting and ending mileage, destination, purpose, additional comments, and notes if necessary. Following the guidelines is vital for the correct way of reimbursing. It is in the best interest of both sides. Businesses do it efficiently; on the other hand employee is thankful to his company.