Conserve our resources for a healthy planet

Right now, we are a throwaway society who likes to use anything that we need and throw away the waste items without thinking twice about the consequences. Global warming, increased levels of chemicals in fish etc. are some of the known adverse effects of this habit. If we continue in this route, our children are going to follow on our footsteps and eventually will lead to the end of the planet as we know of.

We must teach our children about the positive effects of recycling. They must be taught about this from their very young days itself. This way, they will help in protecting mama nature and our future generations.

Access to water can be a major hindrance for the development of our future generations. Some experts are already mentioning the possibility of the next world war over the disputes for access to water. In this scenario, you must use this precious resource with a lot of care. Your children need to be taught on ways to use this scarce resource sparingly.

Wastage of food materials must be avoided at all possible opportunities. You can imbibe this value in your children by teaching them about the people who suffer from hunger in various parts of the world.


Can’t Save For Yourself? Let Uncle Sam Do It


Some people choose to let the income tax deduction choices on their job filing status be a savings plan. While most folks want the government to receive the minimum possible from their hard won earnings, some see it differently. At the tax filing season, some people owe the government money, some are owed. If you’ve chosen to have extra deductions, without having the extra expected income, then you are likely to get a refund. It’s a unique savings plan.

For those who have trouble being disciplined savers, this can be an easier way to accrue earnings without having to think about it. Of course, if they had more discipline, they would gain some benefits by saving with a bank. Access to their funds in an emergency is one advantage. Earning interest on that money is another. The government allows for neither when it collects income tax from employee’s through their employers.

There is something exciting about getting a large check all at once, versus the more mundane savings method. Perhaps it’s an immature approach, but it does have the benefit of working toward building savings that otherwise wouldn’t happen. Some people need a gimmick or excitement associated with their money. With interest rates so low, it’s not much of a loss to do it this way. It’s a way more successful strategy than gambling or playing a lottery.

Save Tax Money By Splitting Pension Earnings


Canadian residents receiving pension have good news when it comes to tax time. You can now disperse portions of pension earnings to some one else, say your spouse, allowing these funds to be taxed less if they are in a lower tax bracket than you are. Not every pension plan is available to be split in this way, but it is very helpful for many. You must either be part of a common law partnership, or married to the person that you allocate your funds to for this system to work. This is great news for many, because a fixed income does not fix much, especially when you have to pay a higher tax rate.

Both you and the individual that you choose to receive a portion of your retirement earnings have some paperwork to do in order to utilize this tax break. You need to fill out forms together and sign them together, including Form T1032, Joint Election to Split Pension Income. Some of these form lines will be different for the two of you. Having a conversation with a tax preparation expert can help you plan this out to benefit you the most when it comes to tax season.  Saving money on taxes is always great to keep what you earned for yourself.