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12 Days of Saving this Holiday Season

Ever wonder what the 12 days of Christmas cost? Well, we did too! Today’s episode is inspired by PNC Bank’s Christmas Price Index. For 35 years, they have calculated the prices of the twelve gifts from the classic carol “The Twelve Days of Christmas.” The result is the PNC Christmas Price Index, a unique and whimsical holiday tradition that makes learning about the economy fun.

In addition to covering PNC’s Christmas Price Index and inflation, we also wanted to relate these twelve traditional gifts to financial tips and recommendations we think you ought to take care of before 2019 gets here. We are only a few weeks away from a brand new year, and there are certain financial matters that are better to address in the current calendar year.

Money Guy Show family, it is officially “Merry Christmas” time. Join us for today’s episode of The Money Guy Show as we uncover the 12 ways you can save this holiday season!

Here’s What You’ll Find Out in this Episode:

  • How much the traditional twelve gifts of Christmas have increased in cost due to inflation
  • 12 ways you can save this holiday season
  • Why now is the time to review your charitable giving strategy and ways to give in light of the new tax laws
  • How to turn lemons into lemonade with tax loss harvesting as a result of recent market performance
  • Why it is a good time to pay attention to upcoming Capital Gain Distributions of your Mutual Funds
  • Which retirement accounts you should max out before year-end
  • Contribution limits you should be aware of in 2019
  • Why you need to be aware of SALT limits in your state and when it makes sense to pay your estimated tax before 2019
  • Why it’s the time to review and update your budget and how to assess if you need to do anything differently in 2019
  • The one thing you definitely don’t want to do this holiday shopping season so that you don’t get into trouble that follows you into 2019
  • How to start an important financial tradition of preparing a net worth statement
  • How to re-evaluate your insurance needs and make sure you have adequate coverage
  • How to hone those shopping ninja skills
  • What low-lying tax deductions you need to take care of
  • Why you can’t forget to use your FSA dollars
  • Look to see if you get a state deduction for your 529 Plan contribution
  • Make sure your required minimum distributions (RMDs) have been distributed
  • How to set financial resolutions and planning goals for 2019

Resources Mentioned in This Episode

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