When I say “it’s that time of year again,” I know most of you wish I was talking about pumpkin spice everything and not taxes. I bet most people don’t enjoy doing their taxes or owing money for taxes, but I know a lot of people who do look forward to getting their tax refunds. When it comes to saving money on your taxes, tax credits are your best friend. Adjustments and deductions lower your taxable income by a certain percentage (this is based on your marginal tax bracket). Tax credits, however, let you reduce the amount of tax you owe dollar for dollar and that means more money back in your pocket! ​

Jerevie Canlas, Ph.D., CFLE
Empowering Financial Wellness Program Coordinator

​If there’s one thing I learned from the events of 2020, it’s that I need to be on top of my finances just in case something unexpected happens - like a job loss (which happened to me in May), or when we needed a new car (something we had to purchase in November), or somebody needs to be hospitalized (which happened to a lot of people). 
 
They say prevention is better than cure, and that’s the principle behind annual physicals. You go see your primary care provider at least once a year so your general health can be evaluated, and you visit your dentist at least twice a year. Based on a number of factors, your doctor might recommend that you do a couple of things such as exercising more, cutting back on certain foods, increasing your fiber intake, or even referring you to a specialist if necessary. Seeing your doctor at least once a year can detect health conditions that can lead to chronic health issues. The biggest benefit of an annual physical is KNOWLEDGE - and this knowledge can potentially save your life.

AMANDA H. CHRISTENSEN, AFC, USU EXTENSION ASSOCIATE PROFESSOR, UMM EDITOR 

If you’re still waiting for your Economic Impact Payments, you might be getting a debit card instead of a check in the mail. This, of course, is the money that’s meant to give relief due to the Coronavirus pandemic. You may have already gotten your payment by direct deposit or by check. But if you’re still waiting, watch your mailbox for either a check OR a VISA debit card. IMPORTANT REMINDER: the government will never, ever call, text, email, or ask you to click on a link they sent to activate your card or get your money. Here's the 101 (the 4-1-1, the "need to know", etc.) if your payment comes in the form of a debit card...

Welcome to Financial Literacy Month 2020! Woot Woot! The Utah Money Moms team is excited to bring you personal finance content that can help you stay on track with financial goals, make smart money decisions and enjoy financial freedom.  Here's what's coming your way this month: 

1. GIVEAWAY: We'll announce an exciting give-a-way opportunity towards the end of the month.
2. BLOG POSTS: We're curating content every Monday and Thursday to keep you up to date on current COVID-19 financial issues as well as topics like teaching your kids about money. 
3. FB/IG LIVE: Every Friday we'll go live from our virtual classroom to share best-practices, tips and hacks to make managing your personal finances as stream lined as possible.

To start off, let's revisit the topic of financial health, what it means, and why it's critical for financial freedom. Check out What is Financial Health to get started, then see Your Financial Wellness Wheel and download the free printable. Finally, check out Financial Fitness: How to Take Action. 
Can't wait to hear your suggestions for financial health! Join us on the Utah Money Moms Facebook page to share!