Saving Money

Topic: Saving Money

Do I Need To Keep A Copy Of My Tax Returns? If So, How Long?

Tax-TimeAnswer:

Yes, and you should keep your tax returns and supporting information (i.e., receipts, W-2 forms, bank statements) for six to seven years. The IRS has three years to audit a return, or two years after you have paid the tax, whichever is later. However, if income was underreported by at least 25 percent, the IRS can look back six years, and there is no time limit for fraudulent tax returns.

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Young People, Do You Need Saving?

A New York Times’ recent article, titled “Saving Young People From Themselves” by Steven Rattner, got us thinking: Do young people need saving when it comes to saving? The article’s statistics paint a startling picture. We as young people are poorer than our parents were on average at our age. We are bogged down by the […]Read More »

Challenge Your Money!

The AICPA’s financial challenge “Ready, Set, Goal!” is kicking off week two with a question: Are YOU tracking your spending and saving? If the ‘spreadsheet budget’ is too old school for you, we’ve got some great alternatives to try! We’re sure you’ve seen your friends using an app such as Mint or Level Money to track […]Read More »

What It Means To Be Fabulously Frugal

Why does the word frugal get such a bad rep? Maybe it’s because we associate frugal with being cheap and with having no fun. Luckily, that’s not the case. We can lead fabulous and fun-filled lives while being frugal.  Here’s how… Frugality means caring about value. Value meaning, what you get for a certain price […]Read More »

April Is Financial Capability Month!

In honor of National Financial Capability Month, the AICPA is running a financial fitness challenge this month called “Ready, Set, Goal!”. This week at CollegeCFO, we’re all setting goals for ourselves. Do you want to be able to be financially independent after college? How about being able to afford that down payment on your first […]Read More »

Saving Money While Traveling Abroad

Are you planning to travel abroad anytime soon – as an exchange student or on vacation? Many of you are! We stumbled upon this fountain of expertise tips on a twitter chat hosted by University of Illinois Student Money Management Services. @ILStudentMoney #UIMoney Their recent twitter chat was chock full of amazing tips such as: How can you […]Read More »
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