Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
Let’s be honest. Some people are just more considerate than others.
These type of people always seem to understand how you feel. You want to be with them but do you ever want to be them? Do you think of each situation as if you are in the other person’s shoes?
Someone was helping me with a logo recently. She didn’t charge me for it, but she still found the time to send me a couple emails along the way to let me know what she’s working on and when I should expect the final design. When she missed the dates she promised, she explained why and apologized even though those recent events made it impossible for her to do what needed to be done.
It’s these types of people that I feel so lucky to be around. The completion of the work probably wouldn’t matter much to her (after all, it was for free and it was a personal favor for a friend’s friend.), but she still took the time to communicate and let me know what’s happening. On the other hand, I probably would’ve been wondering what was happening and would feel uneasy as I keep myself from asking her because I didn’t want to annoy her. [ continue reading… ]
The thought of being able to make more money always come across everyone’s mind at some point in our lives. It could be thinking about a side job to supplement the 9-5 or it could be the thought of expanding if you are a business owner. In most of those cases, the major excuse obstacle most people come up with is time.
There’s not enough time and it’s impossible to make more.
Next time when you tell yourself that you don’t have enough time, come back and take a look at these pictures: [ continue reading… ]
Have you ever came back from vacation and felt a different side of you take over? How about when you go on vacation? I believe it’s quite normal for us to feel and act a little different during days where we are away from home, but how dramatic are the differences?
Yesterday, I came back from my trip to see my parents and I wasn’t even home yet when all of a sudden a rush of money saving thoughts hit me. Should I grab a bunch of biscuits on the plane so I don’t need to get dinner at the food court? What about the taxi ride home? I could theoretically walk home and drive the car back to pickup Emma and all the luggage. It might take me about 30 minutes to get home and another 5 to drive back, but it will save me $12 on the taxi ride. We are tired and it’s 11 o’clock at night (more like 2am if you factor in timezone differences) but hey, $12 saved is $24 earned.
Luckily, I came to my senses and we got a cab in the end (a decision that I’m sure my wife applauded with hint of relief). I’m not even sure why (or for that matter, how) those thoughts got into my head. If I was still in Canada, there was no way I could even think of something like this. Do I have a “vacation mode” where I shut off part of my frugal senses? Or do I have a “frugal mode” where I can completely turn things off?
I’m sure most people’s spending habits change when they are on vacation, especially when it’s coupled with the happiness that typically surround the end of the year (less stress at work, more gatherings). So perhaps when discussing something like this, it’s not the answers, but the questions themselves.
For those of us who are out and about, have a great trip. For the rest of us, Good Morning and cheers for another (going-to-be) great day.
Many travel to different countries around the year but few take advantage of the sales tax refund policies that some countries provide. The most common reasons for not applying are:
never knew tax refund are possible for visitors
didn’t know how to get your tax refunds back
laziness
If you fall under any of the following, this article is for you.
Why Countries Allow Sales Tax Refunds for Visitors
The reason is simple – visitor attraction. Countries want you to spend, spend and spend when you are visiting, so offering a tax refund works the same way as someone putting a sign that says “Big Discount”. Whether this tactic works or not is a different debate because so many people never bother with this but if you care about your money and finances, there is no reason not to take advantage and leave money on the table.
How to Get Your Money Back
Most countries have different procedures of applying for tax refunds as well as which part of the sales tax can be refunded. However, the general procedure consists of:
Filling out some type of form
Bringing your passport
Proof that you are a visitor – some form of boarding pass or itinerary etc
Easiest Way to Get Tax Refunds Back
Sometimes, shoppers can sweet talk the store into not charging the sales tax in the first place, but this method usually doesn’t work for larger retailers. Many department stores have a semi-convenient way to getting tax refunds back via their customer service section. Whenever you shop, the cashier can usually tell you where to go. For example, Holt Renfrew had a customer service department that will refund all applicable sales tax back if you show them your receipt, boarding pass as well as your passport. If all else fails, you can usually find a tax refund form by googling “country sales tax refund” and applying for it by mail. Just make sure to search as soon as possible as most countries will need some sort of approval via an official stamp from an authorized personnel (read – get it figured out before you leave the country).
Countries Participating
There are hundreds of countries that have their own version of the sales tax refund program, here are a few in more detail.
Canada – Visitors are allowed to get the provincial sales tax (PST) portion of the purchase back, with the tax being a minimum of $50 CDN per purchase.
Japan – Visitors who spend more than 10,001 yen on any given day are allowed to get the 5% sales tax refunded.
Taiwan – Receipts showing a spending of NT$3,000 on any single day.
United Kingdom – European countries call it VAT (value added taxes). UK’s VAT is currently at 17.5% with the minimum amount £30 GBP to qualify.
Some Additional Tips for Getting Your Tax Refund
Many people give up on sales taxes because it could be rather complicated to get money back. To help you succeed, here are some more tips to remember.
Shop at Stores that Embraces the Program – Not every store will know everything about tax refunds, so it makes sense to ask before you make a big purchase when traveling aboard. With taxes as high as 25% in some countries, it would be a shame to not being able to get the refund back.
Get the Necessary Documents – Most stores that are familiar with tax refund programs have the necessary forms in-store. If possible, ask the customer service representative to help you fill out the form. Otherwise, fill it out as much as possible yourself and ask all questions you have.
Give Yourself Ample Time – The official stamp (if needed) are usually given by customs at border crossings and can take time to line up and get processed. Don’t short change yourself by thinking that you can just get it done within 5 minutes.
Bring the Product – Some countries require you to bring the purchased item to get the stamp, while others will tell you that it’s unnecessary. Some officers will even require the item to be unused and in brand new condition, so don’t wear it believing you can just show the officer. Since there are discrepancies from country to country on this rule and they are ever changing, bring the item with you unused.
Getting the Refund – Once you get your stamp, it’s time to mail the form to the address provided. The process could sometimes take months with more variables so I always try to see if there’s a way to get the refund immediately. Some countries / stores allow you to get the refund right then and there, while others use a third party service where they will charge you a processing fee for servicing your refund.
The Government is Involved After All – Even with all the procedures and documents, the refund might not come. There were reports that some people have all the documents ready but just couldn’t find the customs personnel at the airport, while others claim that they mailed the form but didn’t receive any reply. That’s why even if there’s a service fee to get the refund right away, it’s a good idea to always take advantage of it.
Is It Really Worth It
It’s complicated and worst of all, you might not even get any money back even if you follow all the rules. However, not even trying is like saying no to a company match in our 401k plans. If there’s even a slight chance of getting money returned, I strongly urge you to give this shot. At the very least, ask the cashier about it when you buy something while traveling. It might turn out that it’s as easy as going to the customer service representative and talking to them.
Everyone is talking about bonus cuts and upcoming layoffs but what about something that will boost your benefits? Getting more perks from your job is essentially free money and best of all, most of these have no tax consequences for you.
Read the few suggestions below and remember to talk to your human resources department and check out the company internal websites. Another good way to find out is by talking with your coworkers to get an idea of what the company provides. Of course, not every company has all of the ones benefits listed below but it’s worth trying to find out.
Gym Membership
Many companies will actually pay for your gym membership (actually, some even have a gym within the workplace). Some companies offer discounts and others will even pay the whole thing in full. Just remember to read the details because while a few will just reimburse you if a receipt is provided, most companies designate fitness clubs that they will subsidies for.
Save Some Money on Commute
Not every company will pick you up from your house with a shuttle to work like Microsoft and Google, but some companies will help you out on your daily commute cost. A popular option is to allow you to put pre-tax money to cover costs like transportation and parking, and I also know people who get help with paying for toll charges on their daily commute.
Employee Discounts
I remember being very envy of my friend when he worked for ATI and could get video cards for half price. If you work for a company which makes consumer products (clothes, computers, cars etc), make sure to take advantage of their employee discounts.
Also, some companies offer discounts for common items like movie, museum tickets through group buys that you can take advantage of.
Emergency Funds
A few companies have setup ways for employees to donate unused sick and vacation time to help other employees facing emergencies. In general, if you really need to take time off, find out from your supervisor and the human resources department what options you have. It really never hurts to ask.
Tuition
Your company could be sponsoring you to study, especially if the courses are job-related. These are great because you get to develop your skills and it’s all free (which could be thousands of dollars a year).
Usually there are rules however that you need to pass the exams (if there are any) so remember not to slack off if you apply.
While big companies usually have more perks, some small companies have some amazing benefits as well. If you don’t find out, how would you know? Try to find out and give yourself an instant raise.
For some of us, the Christmas gift for ourselves this holiday season is just as important as any (in fact, I suggested this as one of the 32 holiday shopping tips). If you fall into that category, consider the following before making that order.
Get Something That Lasts
Build quality and durability is important but even more crucial is how long the gift we want to buy is going to stay on our “wish list”. Before we get it, everything is on our wish list but will what we plan to buy really something we will cherish and love? Nothing will ever last forever of course but the more expensive the gift, the longer it should make us happy.
Waiting Till Last Minute is Crazy
Stop procrastinating and get it once you decide. I’m famous for my patience before I decide to buy anything and my impatience once I decide. I can literally contemplate for months (or even years) and once I flip that switch to turn on the buy signal within my brain, I wanted it “yesterday”. This is bad because one of the few scenario happens:
I really want the next day shipping (which cost more money).
I might go to a store to get it just so I can get it sooner (same consequence as the first).
I really frustrate my family as I keep talking about it until it’s in my hands.
Actually, more than one of those scenarios can occur (all three are possible too, trust me). So, consider getting it early a simple frugal tip as well as advice for disaster avoidance.
Think Twice If It’s Going to Make Someone Else Upset
There is probably a reason if everyone is telling you not to get something. Remember that they disagree with you only because they care about you. Otherwise, they wouldn’t waste the effort.
Also, make sure you aren’t going to get the same thing as a gift from someone else. I’m happen to think out loud of what I want a lot (it really does get annoying I’m sure) so chances are Emma or anyone else close to me knows everything that I want to get at any moment. Getting a gift for yourself and then receiving it again from someone else is not good. If that happens though, at least act surprised and happy because you can return it (the one you got and remember the thoughtful person who was incredibly generous to get you the same thing).
Consider Those That Love You First
Before you spend every penny on yourself, remember those that are close to you. They (not anything you buy) are the ones that make you happy, joyful and satisfied with life. People bring joy, not that gadget or handbag. Buy those people who gave you so much something nice to show them how much they are appreciated and I’m sure you will be much happier than just buying something for yourself.
Free signup to get a free ebook on How to Save Money on Everything! Constantly expanding, it will be the biggest money saving ebook available, and it's FREE! →
(I hate spam and promise that your information will never be shared.)
