Beating Broke

Personal Finance from the Broke Perspective

3 Tips to Help You Budget for Your Trip to Austria

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Planning a trip to Austria can be an exciting adventure filled with charming cities and stunning landscapes. However, budgeting for this journey can seem daunting given the expenses associated with travel. Fortunately, with the right strategies, you can manage your finances effectively and enjoy your Austrian experience without breaking the bank. By focusing on securing affordable flights, opting for budget-friendly accommodations, and organizing help with your responsibilities back home, you’ll be able to focus more on the breathtaking experiences Austria has to offer.

Find Cheap Flights

One of the first steps in planning a cost-effective trip to Austria is to find affordable flights. Although search engines are numerous, consider using lesser-known fare comparison websites to uncover deals. It’s essential to remain flexible with your travel dates, as flying during off-peak times can considerably lower ticket prices.

Incorporating layovers into your travel itinerary may also yield significant savings. The inconvenience of added travel time might be offset by dramatically reduced airfares. Additionally, signing up for fare alerts from various airlines can keep you informed about price drops and special offers.

Austrian air travel history offers a unique perspective, as it dates back to the introduction of the first unmanned air devices in 1849. This historical tidbit can remind travelers of Austria’s pioneering spirit and innovation, encouraging them to explore creative options for their flight bookings. Staying within your budget becomes more manageable when you combine historical context with modern budgeting tools.

Stay in Hostels

Accommodation costs can quickly add up, but staying in hostels allows for more budget-friendly lodging options. Hostels in Austria offer a variety of lodging experiences, from private rooms to shared dormitory-style arrangements, catering to different budget levels and comfort preferences. Many hostels also provide communal kitchens, which can further cut down on dining expenses.

Beyond their affordability, hostels are excellent hubs for meeting like-minded travelers and exchanging tips on exploring Austria on a budget. Taking advantage of staying in these environments can enrich your travel experience, offering cultural insights and local recommendations. Furthermore, many hostels have partnerships with local attractions and events, providing discounted admission for guests.

According to Ruby Home, there are 10.7 million swimming pools in the United States, a fact that may seem unrelated at first. However, the comparison underscores the abundance and popularity of shared recreational resources, much like hostels are shared accommodations that provide budget-friendly and communal experiences. Utilizing hostels not only helps manage your budget but also allows a deeper cultural immersion.

Get Friends to Help at Home

Securing help from friends while you’re away can ease both your mind and your budget. Whether it involves pet care, plant watering, or general home maintenance, reliable friends can alleviate the need for hiring services. Creating a reciprocal system where you help each other during trips can build a supportive community network.

Before leaving, ensure you have clear communication with those assisting you. Preparing a simple guide or checklist for them can prevent miscommunications and ensure everything at home runs smoothly in your absence. This peace of mind allows you to enjoy your trip without unnecessary worries or unexpected expenses.

According to ExplodingTopics.com, in the US, there are around 393.3 million pets. This statistic highlights the importance of proper care arrangements while you travel. Whether it’s for pets, plants, or mail collection, organizing support reduces stress and expenses, ensuring your budget for Austria remains focused on enjoying rather than worrying about responsibilities back home.

In conclusion, traveling to Austria mindfully requires strategic budgeting and planning. By securing cheap flights, choosing economical accommodations like hostels, and organizing help for responsibilities at home, you optimize your travel budget effectively. These approaches not only make the trip financially viable but also enhance your overall experience, making the enchantment of Austria accessible on a budget. Embrace these tips and prepare for a journey that’s memorable both for its beauty and its financial feasibility.

Parents Tax Bill Rising?

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Tax season is right around the corner.  Before you know it, we’ll all be holed away in some corner of our house punching numbers into our computers as we try to squeeze a few more of our dollars back from the IRS.  That’s a task that might get a bit harder for some parents this year.

According to this CNN Money report, on January 1, 2013, several tax credits are set to expire.  And, unless Congress manages to pull it’s collective head out of a dark place and extend those credits, many of our tax returns will be quite a bit heavier come April.  For parents, specifically, this could cause quite the burden.

Specifically, the Child Tax Credit, Earned Income Tax Credit, Child/Dependent Care Credit, and the American Opportunity Credit will expire.

  • The Child Tax Credit would be reduced to $500 per child, instead of the $1000 it’s currently at, and would no longer mean a refund of any excess credit above and beyond tax liability.  It’s debatable whether it should be giving that excess credit as a refund, but I’d certainly like to see them keep the credit at the $1000 number.  This is one that we use on our taxes every year, and I know it’s been quite beneficial.
  • The Earned Income Tax Credit will have several of it’s key income thresholds reduced back to previous thresholds.  The maximum credit will also be reduced by 5%.  I believe we exceed the threshold for this one, but reducing the thresholds will eliminate it for quite a few families.
  • The Child/Dependent Care Credit, like the EIC, would see several of the maximum credit and reportable expense reduced.  This is one that I know we’ve used every year, since we’ve always had some sort of child care expenses.  Could mean a significant loss of credit on our tax return.
  • The American Opportunity Credit is a credit that replaced what was called the Hope credit.  It allowed for a higher amount of credit and for some of the credit to be refundable to the tax filer.  If it expires on January 1, it will revert back to the hope credit which means the credit will be reduced by $700, and also reduced to something that can be claimed 4 years to something that can be claimed only 2 years.  The Hope Credit is also a non-refundable credit, so if you have no tax bill, it doesn’t mean a larger refund like the American Opportunity Credit would.  Again, I don’t necessarily agree with the refundability of credits, but this could mean a huge difference for some families still paying for college expenses.  I’ve never been able to use it since I was well out of college when it was put into place.

That’s just four of the parts of the tax code that are set to expire on January 1 if Congress doesn’t act on it.  In a Presidential election year, you can bet they won’t make any moves on it until after election day, so they’ll have a very short window in order to get something done.  I truly doubt that they’d let them all expire, but depending on the outcome of the election, it could be a pretty dirty fight.

How many of you have used these credits?  Would their loss on January 1, 2013 change your tax bill considerably?

Debt Ceiling Crisis?

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If you’re even slightly interested in the US economy, and, let’s face it, most of the world is, then you’ve likely been at least marginally following the last few weeks worth of debt ceiling news.  The quick and dirty of it is that the US government has a debt ceiling that puts a cap on how much debt the US federal government can carry.  If they reach that cap, they can no longer issue treasury bonds and the like to raise money to pay for things.  Based on what I’ve read, everyone would like us to believe that it’s a major crisis, and the world will end if we don’t raise that debt ceiling and allow for more debt.  But, is it really a crisis?

Let’s think about this just a little bit.  Replace “U.S. Government” with John Doe in everything I’ve just said, and all the news you’ve read.  If we were talking about an individual, we wouldn’t be talking about how the world would end if they weren’t allowed to accumulate more debt.  We’d be talking about how they need to radically cut costs, increase income, pay off debt until they can get their finances in order.  Would  it be called a crisis?  Maybe on a personal level, John Doe would believe it was a crisis.  But, it certainly wouldn’t be world ending.

Bus1I’ll admit that it is a bit different when it’s a government entity that we’re talking about.  If the US government goes bankrupt, there will be some pretty serious problems with the economy for a while.  Which brings up another issue altogether.  The US economy needs some diversification of it’s revenue streams.  Way too much of the economy balances on how much money the US government sinks into it each month.

It’s time we start asking the same questions of the US government that we would be asking of John Doe.  Do you really need that expenditure?  That service?  All three cars?  The McMansion?  Unfortunately, those that are in charge in Washington are playing political ball instead of really trying to solve the problem.  They think way to hard about what programs they can cut that won’t lose them votes in the next cycle, or how much they can raise taxes without losing votes, when, instead, they should be looking to make the US government financially solvent and stabilizing it’s fiscal situation.  You or I would start with a balanced budget, I don’t see any reason why the government shouldn’t do the same.

What do you think?  I don’t think I’m being to idealistic in asking that they carry a balanced budget each year.  Or that they cut costs until they can do that.  Yes, they’ll likely have to raise taxes some to pay off what they’ve got for debt, but if it doesn’t come with some pretty significant cost cutting, they’ll all be looking for new jobs in 2012 anyways.

photo credit: Public Notice Media