💰Hack your tax season

The financial world is full of updates this week as more and more people want to know: does money matter in love? Are vehicle repairs getting more expensive? And how do I make the most of this tax season? Fortunately, we have all the answers.

Read on to explore the endless possibilities of good financial decisions. Here’s to supercharging your money, one step at a time 

- Milan

IN THE KNOW

Finding Love Through Your Credit Score? 

Not many people like to admit it but money is one of the biggest contributing factors in building a healthy relationship. In fact, one of the leading causes of divorce is money issues. Financial stability is sexy and you know it. And so does Neon Money Club. 

This week, the lifestyle finance platform launched Score, a new dating app for people with good to excellent credit scores. With the goal of raising awareness on the importance of money in relationships, Score is the hottest new platform for people with a credit score higher than 675. To qualify, Score conducts a soft credit check that will not impact your credit bureau report or be seen by anyone else. Once approved, you gain access to the platform where you will meet equally financially responsible counterparts who can potentially turn into life partners.

Should you fall short of the 675 mark, you will be sent resources to help you develop your financial prowess, after which you can reapply to Score. The app is available for a short period of time so check it out while you still can and if you’re nervous about not qualifying, Hack Your Credit with our one-stop-shop for all things credit repair at milansingh.co/hack-your-credit

Why Car Repairs Are Getting More Expensive 

If you did a double take on your last car repair bill, you’re not alone. Vehicle ownership has gotten more expensive because of the skyrocketing prices of repairs. Experts are still unsure of the exact problem but have narrowed down a few contributing factors.

Though COVID is now just a distant dystopian memory to many of us, its effects are still seen across the board. As travel halted during the pandemic, so did the need for vehicle repairs, meaning that many technicians left the industry in search of other work. Fast forward to 2024, good technicians are few and far between, meaning lower supply, higher demand, and higher hourly charges. The pandemic also disrupted shipping lines, which drove up the price of parts. Added to this, heavier vehicles with more complex parts, new materials, and new manufacturing methods are dominating the market, making repairs more time-consuming, complicated and costly. 

In better news, there are many ways you can reduce the price of a new car. If you're afraid of your expenses getting out of hand, our brand-new quiz gives you a customized step-by-step money plan that will help you save, earn, and invest more. Find it at milansingh.co/money-quiz

Hack Your Tax Season 

It’s officially tax season and we’re here to tell you that you don’t have to be nervous about it. Tax season doesn't have to be a daunting mountain; with the right tools and mindset, you can conquer it like a financial warrior.

The key is not putting it off for any longer. Procrastination and taxes don't mix well so start the race early. Step one: gather your financial arsenal. From W-2s to 1099s, make sure you've rounded up all the necessary documents. Don't let any stray receipt go unnoticed; these little warriors can often be the key to unlocking deductions.

Next, embrace technology. Online tax filing platforms are like financial sidekicks, guiding you through the process with ease and ensuring you don't miss any potential savings. This list by CNBC weighs the pros and cons of different tax filing software and can help you find one perfect for you. Whichever you choose to go ahead with, remember, start now, stay focused, and enjoy the benefits of great financial decisions. 

MONEY MYTH OF THE DAY

“You Need to Follow a Specific Money Rule”

Financial success is a journey, not a one-size-fits-all destination. While some general principles like saving, investing, and budgeting are universally beneficial, the idea that everyone should adhere to the same rigid set of rules is a myth.

Your financial journey is uniquely yours, shaped by your goals, values, and circumstances. Don't feel pressured to conform to someone else's financial playbook. Instead, craft a strategy that aligns with your aspirations. Maybe you thrive with detailed budgets, or perhaps you prefer a more flexible approach. The key is finding what works for you.

So, break free from the myth that there's a one-size-fits-all financial rulebook. Explore different strategies, learn from others, and adapt principles to suit your financial landscape. Your journey is dynamic, and your financial approach should be too. The right tools will help you understand how close you are to financial freedom. Explore your custom plan at milansingh.co/money-quiz

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