Money is a funny thing. One minute you are rolling around flushed with cash and the next you are trying to rub two pennies together. For those that have money and know how to use it and make it work for them they, they know how to play the game when it comes to taxes. For the rest of us, we will need a IRS tax lawyer in Nashville TN to help us figure it all out.
Don’t spend it as soon as you get it
One thing that you don’t want to do is spend all of your money once you get it. If you do, you are going to be in a rude awaking. You want to take your money and put it in the bank. You want it to sit there for a few weeks while you wrap your head around what you can do with it.
Don’t give it to others
Another major mistake is that you will give it to someone who says they will pay you back. Nine out of ten times you won’t get paid back. In fact, you will probably be made out to be the bad guy in the situation for giving them the money to help them out. This doesn’t mean you can’t help people or invest or donate. Just don’t expect to get it back.
Do have a savings account
Once you figure out how much money you can really afford to pay out. You want to sit down and decide what will be for savings. If it is for an emergency, there are tax free saving accounts that will give you extra interest on your money. You just need to figure out which one works best for you.