10 Money-saving Tips That Don’t Work

Prepaying Your Taxes

Prepaying Your TaxesMuch like your mortgage, if you use your extra cash to prepay your taxes, Rosen says there are better uses for the extra dollars. While some do this in an effort to avoid paying them late—which carries a steep penalty—he notes a better money-saving tip is to place the funds in a low-risk cash flow investment. ‘You will come out ahead, and it’s probably a better investment. The government is going to stay in business with you paying on time, there is no benefit to you to pay them in advance,’ he explains.