Each year we say we’re gonna get it together in all aspects of our life. Money is one of the toughest especially in this economy. But check out these tips to getting your financial affairs in order this year so that each and every one to come will be a breeze!

1.Cut out the crap: Ok, make a list of everything you spend money on in a month. Obviously you can’t cut out the electric bill or groceries but you can live without your daily Starbucks or that magazine you buy every month and never read. be honest with yourself and make adjustments by making your lattes at home, reading that article online or cutting out those things that you’re throwing your money away on. A great exercise is to keep every receipt from every purchase you make for a week. You’d be surprised how quickly purchases add up and how little you have to show for it.

2. DIY: Find ways to do things yourself or at least do them cheaper. As mentioned above, make your own coffee or smoothies instead of spending $5 a day on your fix. Brown bag your lunch, watch your favorite shows online and can you your cable service. While it may seem like a pain at first, you’ll see how quickly you adjust to your new, affordable habits. The extra funds in your account will be enough to keep you on track!

3. Contribute holiday cash to an IRA: Did you receive some cash from gramma? Have a small chunk of savings just sitting around? Make it work for you by contributing to an IRA before you file your taxes.

4. Write-off resolution-related expenses: Join a weight loss program? Visiting a dietician or nutritionist? Keep your recepits this year, some of this stuff might qualify as a tax write-off, easily boosting your refund and putting more cash in your pocket with little effort.

5. Charity helps you and others: Charity is a great way to give back, either through volunteering your time or giving money or goods like used clothing. Don’t forget the monetary benefits of giving. Start 2012 right by keeping track of what you give for a refund booster on your tax return.

6. Save without lifting a finger: Reduce your taxable income next year by choosing to automatically contribute to your 401(k) next year, and set-up a free high-yield savings account online where you start by contributing even a small amount, say $25 per pay period, to an account you can’t easily drain.

7. Pay down debts: Too often we make lofty goals when it comes to paying down debt. Start with one credit card and focus in on one realistic first step, like doubling minimum payments toward one card with the highest interest, then slowly expand once you can meet this goal without skewing any of your other finances toward the negative.

8. Go Green: Yeah, conserving water and power, shopping locally and living greener also means saving green!

I know that April 16th is a ways away but there’s no time like the present to start thinking about saving on next year’s taxes. And you can do that event while you’re having fun all summer long! Mixing business with pleasure is no faux pas when it comes to keeping some hard earned cash in your piggy bank. So how can you make your business/getaway as well as other summer time expenses tax deductible? Deduct costs to and from your destination, including airfare and ground transportation. If you go away for 10 days, spending 6 days on business and 4 days with your family, this mixed trip can give you transportation deductions. Kids at summer camp or day care? Deduction ; ) How’s that for a break?

Business Travel

If you find that you must travel to secondary or temporary locations during your work day, even within your metropolitan area AND as part of your job and your employer does not reimburse you for that travel, those expenses may be tax deductible. Also, travel to and from a second job may be tax deductible.

Un-reimbursed expenses for business travel outside of your metropolitan area may also be tax deductible. And you generally can deduct 50% of the cost of qualifying meals and entertainment expenses. Keep your receipts and make notes of who you were with, why, etc. It will come in handy later on, especially if the IRS decides they want to check you out. You’ll have a nice account of why you have these deductions.

Summer Camps & Day Care count too!

If  you’re a working parent or looking for a job, you may qualify for the Child and Dependent Care Credit when school is or is not in session. Check this out:

1. Day camp costs can count as an expense towards the Child and Dependent Care Credit. Unfortunately, overnight camps do not qualify.
2. Babysitters or daycare will earn you a tax benefit if you qualify for the credit.
3. The Child & Dependent care Credit credit can be up to 35 percent of your qualifying expenses, depending on your income.
4. You may use up to $3,000 of the unreimbursed expenses paid in a year for one qualifying person or $6,000 for two or more qualifying people to figure the credit.

Having a garage sale? Donate your left over items for a deduction!

You are able to deduct your contributions or property donations to charitable (non-profit) organizations only if you itemize your deductions. Just remember, not every non-profit organization is a tax-qualified charitable organization. Ask the organization first whether your contribution is tax-deductible and  keep track of what was donated as well as noting the value.

When you donate property to a charity, you generally can deduct the fair market value of the property. But you must reduce the value of the donated property (this includes  a vehicle) by the amount of income that would be ordinary income or short-term capital gain if you sold the property for its fair market value. Capital gain property is the term used to describe donated property the sale of which would result in long-term capital gain if sold.

You can deduct the purchase price of new items, but the deductible amount for used goods, such as clothing, household goods, furniture and other non-cash items is based on the item’s fair market value. When figuring the fair market value of used goods, check prices in stores that sell used goods, such as thrift stores. Items need to be in good condition or better to claim it as a deduction.

There s a special form to fill out If you donate non-cash items with a total value of more than $500. You may need a qualified appraisal if you donate an item or a group of items with a value of more than $5,000. Always be sure to chat with your tax person about any and all deductions to make sure you’ve got all the correct info, forms and documented paperwork to back it up.

So, remember to keep your receipts and notes in a safe place this summer, especially if you’re traveling. You will thank yourself in a few months and so will your wallet ; ) Now get back in the pool and enjoy your summer!!

Meet Peter, our Financial Health Correspondent. Peter Bielagus (Bill-a-gus) became a top authority on money management for Young America the hard way− by first falling deep into credit card debt. Peter entered college with several thousand dollars in savings but within 6 months he found himself $5000 in credit card debt. Determined to dig his way out of debt, Peter began learning about personal finance, reading over 300 books on the subject, interviewing experts and attending seminars. By graduation, Peter’s cards were clean and he was on his way to financial freedom.

Wanting to educate students and young professionals about money, Peter wrote Getting Loaded: A Complete Personal Finance Guide For Students and Young Professionals which was published by Penguin Putnam/NAL. After graduating, Peter went to work for a national financial company and became the top salesperson in his district, in his first year. Shortly after getting his financial planning license, Peter then opened up his own fee-only financial planning firm – one in the few in the country that catered exclusively to young people. A frequent guest in the media, Peter has appeared in the Wall Street Journal, USA Today and on the nationally syndicated radio show “Hints From Heloise.”

In addition to writing and speaking, Peter has created many financial education products, including the interactive CD-ROM, Mastering Your Personal Finances , and the 70 minute audio program The Free Way Guide To Personal Finance . He is now awaiting publication of his next book for young entrepreneurs entitled “Quick Cash For Teens: Make Money and Be Your Own Boss” to be published by Sterling in the Spring of 2009.

Affectionately known as the “Go To Guy For Young People and Their Money” Peter now gives over 100 presentations a year for high school and college students as well as members of the military. Recently financial corporations, credit unions, financial aid administrators and even parents have called upon him to assist them in getting Young Americans excited about personal finance. Mixing humor and emotion with real life examples, Peter empowers audiences of all ages to get started today on managing their money.

Look out for great articles on how to get your finances in shape no matter your age, occupation, or financial situation! Welcome on board Peter!

FOr more information on Peter, his speaking tour and more, check out his website at PeterBspeaks.com