Money Saving Tips That Work

A money saving tip is only good if it works for you. The Fat Dollar will help you use what you already have as well as things you can easily get. Our motto is that a money saving tip should be interesting, fun, relatively easy, and should awaken your creative spirit. Oh, and one more thing .... a money saving tip should make you feel comfortably rich, not miserly or deprived!

Fat Dollar Money Saving Tip of the Day

Save Money on Gas for Your Car

Classic Car The US Department of Energy has a nifty little tool for looking up the expected gas mileage of your vehicle. This tool works for both new and used cars. It has updated expected mileage figures for older card, as well as mileage reports from actual drivers of your model of car. Knowing the expected gas mileage of your vehicle is a good step toward increasing the gas mileage of your vehicle. If your car's actual gas mileage is noticeably lower than these estimates, then you should first look at your driving habits and then look at the possibility that your car's engine or tires need some attention. (See The Fat Dollar's article on Saving Money on Gas for ideas on changing your driving habits for better gas mileage.)

Another use for this tool is estimating a vehicle's yearly gas cost when you are considering purchasing a new or used car. A few hundred dollars in gas savings each year can add up to a few thousand dollars in gas savings over the life of a vehicle.

The tool can also help you if you are putting together a spending budget and want a starting figure for your monthly gasoline expense.

And hey, if your gas mileage figures are noticeably better than the estimates on the site, then thumbs up! You're already ahead of the gas-saving game. And that is the Fat Dollar way!

Here is the US Department of Energy link: www.fueleconomy.gov

Last Minute Ideas for Lowering Your Income Taxes

Use these last few days of 2011 to plan ahead for lower income taxes:

1. Get your paperwork organized now. Instead of having one frantic evening of gathering your tax papers for your return preparation, get started now. Get a box or folder, and start filling it with all the 2011 tax papers, receipts, and documents. While you are at it, get another folder and label it "2012" and get the New Year off to a good tax document start.

2. Do a rough estimate of your income taxes. If you may owe taxes, you still have time to make donations, contribute to a regular IRA account, fund a Health Savings account, or any number of last minute moves to reduce your taxable income.

3. If you normally itemize deductions and want to increase your deductions in 2011, then clean out the closets and under the bed and give away all those unused items, pay your last State estimated tax payment, pay medical bills (if your medical expenses will exceed 7.5% of adjusted gross income- otherwise wait until 2012 to pay medical bills)

4. Consider qualified energy saving improvements, such as extra insulation or perhaps a new storm door or storm window. The purchased item must be actually installed and used by Dec 31 to take the credit in 2011.

5. If you have not already paid the maximum allowable for the Educational Tax Credits, then consider paying any college tuition and books invoices in 2011.

6. After you have done a rough estimate of your income taxes (see #2 above) then consider changing the withholding on your paycheck if the estimate shows a large refund or a large balance due.

7. Contribute to your Regular or SIMPLE IRA account.

8. Contribute to your Health Savings Account.

9. Check for special state tax breaks, such as a donation to a state college (Indiana).

10. If you normally have your return prepared professionally, then make an appointment now so that you get a better chance at having the appointment at your convenience.

Paying your fair and legal share of taxes, taking advantage of all the deductions and credits allowable, neither underpaying nor overpaying - that is The Fat Dollar way.

Awesome, Yet Inexpensive Gifts

Gifts that convey the priceless feelings of love and friendship

Christmas and the holiday season is a time of joy, excitement, goodwill, love, and ... overspending. Gift giving should be a joyful, pleasant, heart-warming event. The experience is more or less ineffective if you spend December in a rush of shopping for gifts that are not likely to be used or appreciated and you further complicate the issue by purchasing those gifts with a credit card, loans, or by raiding your emergency funds.

To make a gift meaningful will take some thought. A great gift will acknowledge or celebrate a cherished aspect of the person who is receiving the gift. Avoid giving a gift that implies that you are wanting (or trying!) to correct some fault in the recipient. Gifts such as diet books, scales, housecleaning products, exercise equipment, self-help books, and so forth should only be given if they have been specifically requested.

Here are some more ideas to fire up your creativity and inspiration for getting the perfect gifts for your loved ones.

click here for full article More Low Cost Gift Ideas for High Impact