Stupid Tax is one of my most despised things. I hate making silly mistakes that cost me, my hard earned money. What constitutes stupid tax? Any bill, cost, fee, or fine that could have been avoided by being a bit more on the ball. Any time I get hit up to pay stupid tax, I feel like I have let myself down, big time. It is such a waste of money.
I have made a list of common sources of stupid tax and how to avoid them.
My most common offender in the stupid tax arena is not knowing what date my automatic bill payments or Direct Debits are coming out of my bank account and then getting caught short. My solution – Google Calendar – now as soon as I receive a bill, I log the date and the amount that is coming out of my account, then set, now this is the important part, a reminder to be sent to me two days before the due date. This gives me enough time to make sure all the funds are available.
I know I should know exactly where my money is and where it is going at all times but here in the UK, we have some bills that come quarterly which makes it slightly more difficult. Also I sometimes get a bit over excited and pay off a bit more than I really can afford to my debts.
Bouncing cheque is the exact same thing, make sure you deduct the amount as soon as you write and don’t let your higher than you thought balance trick you into thinking you have extra funds.
Another stupid tax to avoid, getting caught without enough cash when on a night out. The solution is to budget exactly how much you want to spend and stick to it. We all know that sometimes we just need to get a taxi so if you think this situation could crop up then tuck some secret taxi money in your purse but under no circumstances do you use it for another cocktail.
Going over your credit limit on a card is another super, stupid tax as you really should be avoiding credit cards at all costs. Solution – just don’t use them, just don’t.
Do you have a car? Do you get parking tickets? This is such a big waste of money, all you need to do is set the alarm on your phone with enough time to get back to the car, et voila, no parking fine.
The new smart phones are so handy for helping us save money andbe more productive but we have to remember to use them. I am using Errands for iPhone to remind me to pay bills on time, when library books are due, and when is the last day I can refund items with a time limit. I use the clock timer to avoid any kind of parking fines and as a productivity tool.
We need to recognize stupid tax and make every effort to avoid it at all costs. I ended up paying £95 in stupid tax last month due to my lovely bank reducing my overdraft and me stupidly not cancelling my Direct Debits. This meant I have to put that dress I wanted to buy off by a few weeks or until I can sell something so I can get back on budget.
Do you have any tricks to avoid the dreaded stupid tax? I am ready to try anything because I really want that dress and the way I am going it my be spring before I can buy it, with cash of course.