I don’t know about you but I absolutely love this time of year. I feel as though I wait the entire year in anticipation for the holidays, which I know will be filled with lots of food, egg nog, holiday parties, and people in good spirits. This is also the time of year when I get slightly undisciplined as I drive past stores with signs that read 50% off Christmas sales or I go online to read about black friday and cyber monday giveaways. Similarly, when I talk with my colleagues in real-estate and finance the discussion always leads to topics on low interest rates and home prices that are heading south for the winter season. The mix of what I call good and evil; the urge to spend blindly versus the desire to take advantage of year-end bargains is enough to keep me confused.
Instead of getting antsy about what to do, below are a few random but good pieces of information to consider as we approach the final days of 2012. I. When It Comes To Holiday Shopping: Make Your List…And Check It Twice While economist will tell you to do your part this holiday season by spending your money, which will contribute to improving the nation’s gross domestic product (GDP), my personal advice is to make sure you don’t overspend. It’s easy to get caught up in the hype of holiday shopping, after all the deals sometimes are unbeatable. But the last thing you want to do is beat yourself up after the holidays when you realize your accounts are overdrawn and credit cards maxed out. Be smart and spend only what you can afford. Let Santa take care of the rest! II. Consider Buying A House This Time of Year It’s no surprise that during the winter month’s home prices drop. This is partly because people tend to not want to look at homes in the cold and snowy weather. This could be bad news for a seller who wants to maximize their profit. But if you are a buyer, this could be prime time for you to capitalize during the down season. Yes, there are benefits to home shopping in the spring and summer months, but if you know the area and are willing to bundle up, I’d say go for it. You’re more likely to negotiate better terms during this time of year since most people will wait for the mad dash when the weather warms up. You know what they say; the early bird gets the worm. In this case, be the bird that doesn’t fly south for the winter with the rest of the flock. You might just find a steal of a deal. III. Gear Up For The Upcoming Tax Season The 2012-2013 tax season starts on January 22, 2013; this is when the e-file system opens and begins accepting 2012 tax returns. You can file paper returns earlier than this if you’ve received your W-2, 1099’s, etc. Whether you complete your tax returns on your own or work with a professional make sure you have all your paperwork organized. My advice is to create a folder that has everything you need; bank statements and student loan documents that show interest paid, W2’s or unemployment documents showing earned income, charitable giving documents, a clear itemized list of expenses, etc. This will make a huge difference when you start the process. You can definitely navigate this holiday season comfortably knowing you are in control and that you call the shots. Don’t overspend and make sure you stay organized. Last but not least, stay focused on what is most important; spending quality time with family and friends and taking inventory of all the blessings you’ve received over the year. This will leave you equally as happy. I promise. Till Next Time...Happy Living and Learning, The S.P Team
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About The AuthorSolonge Robinson is a Co-Founder of Soldon Properties, LLC and proud contributor to The Soldon Corner. Archives
January 2020
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