The Girl Who Came Crying Because of Financial Fear And Left Crying with Financial Joy

The changes in this young lady came very quickly. So quickly that I asked her to share with others what happened to her at her very first meeting.

What occurred with her is evident that it is sometimes necessary to seek some help and advice if you feel you r finances are not where it should be. In finance, the saying that “you are too close to the forest to see the trees” is so true. This was her case.

During her first visit I immediately recognized her fear and took the time to explain that her finances are great and just needed some tweaking. She naturally had to come to grips with the knowledge that by owning her own home some changes in her habits would be necessary.

This young lady has done all the right things to enable her to have financial success in her future.

Here is part of her journey in her own words.

I was never one to think much of money. You either have it or you don’t. It’s there to buy useful or pretty things but not much else worthwhile until the day I bought a condo. My financial situation was thrown for a loop with the additional expenses and I felt lost trying to navigate through it. I wanted to see where my money was going and needed some direction so a friend passed along Tessa – Marie’s number.

I cannot put into words how nervous I felt before that first meeting. All my emotions building inside of me that when I finally tried to talk I burst into tears trying to explain how I had got to where I was. After speaking with Tessa-Marie I cried again, not with sadness but of hope. A hope I had not felt for a long time. She had validated my thoughts and feelings and didn’t put me down but instead showed me the possibilities. I had to laugh when after looking over my information she asked “why are you here?” as I had put so much pressure on myself. After I left that first meeting I was practically skipping down the sidewalk feeling as though I had begun to take ownership of my financial future and excited to put into practice the tools I had been given. She had told me at our next meeting I was the girl who came and left crying.

My peers had begun noticing a change in me excitedly talking about money and I was eager to pass along my favourite strategies such as making a list of all the foods I already owned then creating a grocery list before shopping to avoid duplicate or spontaneous purchases. Opening up several savings accounts, each for an intended purpose such as vacation and emergency funds added in small amounts monthly to ensure I literally had money in the bank if something should come up. I loved the idea of accountable spending with the thought before I spent any money that dollar would put me another dollar in debt and did I want that.

This new advice was like a window being opened and I was finally able to breathe in fresh air. You have to be ready and open to hear the advice someone is giving to be able to whole heartedly listen and take what you learn and put it into action. I am ready and looking forward to a positive financial future filled with only happy tears.

Thanks

 

 

 

 

Tax Deadline April 30th, Have You Done Your Taxes?

Tax Deadline April 30th, Have You Done Your Taxes?

 

You are wondering what to do about filing your taxes this year. Every year you wait until the final few days, make a dash for it and choose the first person you meet to help you do your taxes.

You often leave thinking. Was that right? Your mind begins racing and you have thoughts, such as these. Is that all the refund I qualify for? This guy was not sure of what he was doing. He kept asking his co-workers for help. That was a lot of money to pay to have my simple tax done.

So this year I am offering you some tips to get your taxes done properly.\

  1. Ask for referrals from family, friends or colleagues. Find out if they have had their taxes done by this person and how satisfied they were. Would they be using them this year? If not, why?
  1. Ask for their credentials and experience. Are they qualified to prepare taxes? How many years of experience they have? 7 to 10 years of doing taxes are great. Do they belong to professional associations? Do they keep up to date on the changes in the tax rules and regulations?
  1. Ask about their fees upfront. “Do not worry about it or I don’t charge much.” Is not an answer. Get them to tell you their fees for doing your taxes not someone else’s.
  1. Make sure all the deductions are legitimate. Tell the person; you want them to be sure that the credits are the right ones for you. Do not take chances with the government. They come first.
  1. Make sure your refund is coming to you and not to your tax preparer. You are often told. “We will give you, your refund immediately.” Guess what? There is a fee for that. Just say No. Wait, you will receive your refund in 7 to 10 days.   Not waiting can cost you 15% or more of your refund. If you agree to this, you will be given a debit card, which charges a fee every time you use it. It’s a withdrawal fee. Who do you think keeps making money off you? That company who just did your taxes, you keep on paying and paying.
  1. Sign up for automatic deposit to your bank account. There is a very simple form to complete. The person preparing your taxes should have forms available or download them from the government website. Your bank will give you all the information you need to complete the form and they will assist you in completing it.
  1. Keep an eye on how they prepare your taxes. Turn your phone off and concentrate on what is happening.   Make sure you have all the documents you need to file a proper return. Your last pay cheque is not a T4. If the person is not explaining what is going on with your taxes, ask him/her to explain what they are doing. You are paying them to crunch the numbers, but you should have a general idea of what is going on. Make sure your return is e File. Once this is done they get a confirmation number. Make note of the confirmation number. Ask for the originals of all your T4’s and receipts. Keep them together with the copy of your return.
  1. Find out if they provide audit assistance. Using a tax preparation chain can be cheaper than a CA but they may not offer audit assistance. Your CA will accompany you to an audit and answer questions on your behalf. There will be a charge for this extra service.
  1. Ask the person whether you are able to contact them after you file and after the deadline date. If anything goes wrong with your return, or you have additional questions you need to be able to contact them.

 

Hope this helps and if you have further questions, please contact me.