It’s hard to believe that 2009 begins on Thursday, but you’ve still got some time to make some last-minute savings choices before the New Year begins. I’m talking that kinds of things that can help you with your 2008 taxes (you know that April 15th will be here before you know it) and put a few extra bucks into your pocket before the big ball drops in Times Square. Here are some ideas to consider:
* Recycle Electronics for Cash
This idea came to me when I was reviewing some of our receipts from Christmas. We’d made a few Wii-related purchases at Radio Shack, which had the following printed on the bottom of the receipt: “Recycle Your Electronic Gear. Trade-in used, working small electronic items through RadioShack.com and get a Gift Card to spend on new electronics.” Now if I was in the market for some electronics–and had some old stuff that needed getting rid of–this is a great deal that Radio Shack is offering.
You can find something similar going on at an Apple retail store if you need to dispose of an iPod. Not only will Apple take the iPod off your hands for you and get it recycled, but also it will reward you with 10 percent off a new iPod. This is a great idea if Santa didn’t bring you that new iPod Nano you were hoping for. Now you can go get one for yourself and save 10 percent.
Finally, if you need to get rid of printer or copier cartridges, bring them to a store like Staples. Staples will recycle the cartridges for you and, in most cases, will give you a coupon for money off a new cartridge.
* Make Tax-Deductible Purchases
I’m not an accountant and I don’t play one on TV but I do know that lots of self-employed people like myself can qualify for tax deductions when they purchase office equipment during a tax year. (Please talk to your tax professional about how this notion relates to your own taxes.) In the past month I’ve managed to get great deals on all kinds of equipment that I’ve needed for my home office but had held off on buying because the price wasn’t right. But when it was right, I finally got two items that had been on my “to buy” list forever: an external hard drive for my computer so I can do an automatic back up every night (that was a 6:00 a.m. Black Friday score, by the way) and a DVD burner so I can take all of my recorded TV segments off of my Tivo and upload them to my MacBook for when I edit my new TV reel.
* Give To Charity
I’m pretty good about giving to charity all year long, but I’m not always great about collecting receipts for my good deeds. And without those receipts, I can’t include those charitable donations on my taxes. So my plan for New Year’s Eve is to bring a bunch of giveaway clothing to a local church thrift store (that clothes the indigent for free) and making sure that I get a receipt for my efforts. Yes, giving to help others is the right thing to do but there’s nothing wrong with wanting to have a small tax benefit as well. (See the IRS website for some new rules about the tax deductability of charitable donations.)
* Clear Out the Clutter for Cash
One of our goals during this break between Christmas and New Year’s is to declutter our home. My husband and I got a great start on our kids’ playroom on Christmas Day–when we cleared out the space to make room for the new Wii. We pretty much took every piece of furniture, box of videos or board game out of the room, and then, one by one, put stuff back if we thought we would use it. A lot of stuff never made it back into the playroom, and right now I’ve got three huge bins of VHS videos that my kids will never watch again and/or we’ve already got a version on DVD sitting in my front hall. My plan is to first try to sell the videos on Craigslist or eBay to bring in a few bucks, and then if that doesn’t work, give them away to charity. I’ve also cleared out the master bedroom closet, and come up with two large shopping bags of adult clothing that we’ll never wear again, and I’ve done the same with the kids’ clothing as well. Again, my hope is to sell some of the stuff to bring in a little extra cash for 2009, and donate the rest to a good cause.
What are some money-saving decisions that you can make today before we ring in the New Year tomorrow?
