A Few Quick Tips
Welcome to Saving Money with Andrew!
Because absolutely nothing happened last week (at all), I had plenty of time to sleep and think about great money-saving ideas!
But seriously, this was a very busy week with a lot of ups and downs (in addition to the election, we are trying to buy a house). But here are three helpful tips from the past week that I came across in between losing sleep over election results (before going to bed) and losing sleep over my kids (when they woke me up at 5am post-daylight savings):
Free $5 Amazon Video Credit - Amazon is offering a $5 credit to Prime users just for watching one of their Amazon Prime shows. Having seen most of the good ones on the page, I just clicked on one and played it in the background.
$300 Charitable Deduction - Starting in tax year 2020 (returns filed in 2021), Americans who take the standard deduction on their taxes (~85% of taxpayers) can get a tax deduction for up to $300 in cash donations. Normally, people taking the standard deduction are unable to take a tax deduction for charitable contributions at all. So make sure to save any receipts for charitable contributions in cash you make this year, and make sure to set a reminder for` tax time next year to see if you’re eligible to take the deduction.
Google Fi - Last year, I extolled the benefits of MVNOs (mobile virtual network operators), which sell cellphone service at a discount to the major carriers (AT&T, Verizon, and T-Mobile/Sprint).
At the time, I was a big fan of Ting, but since then, I’ve switched to Google Fi, which I prefer because it is cheaper for heavier data users. It also uses the new eSIM standard, which lets you activate service without a SIM card. Transferring my existing number took less than 15 minutes. If you are paying more than $40/month for mobile service (including taxes and fees) and are not a heavy user of data, you can probably save money with an MVNO. We saved about $50/month by switching from a family plan with a major carrier to an MVNO.
And now…Andrew’s pick of the week!
Tyler Cowen is one of my favorite people. He’s the co-founder of one of the best blogs out there, Marginal Revolution, and he’s a true polymath. In addition to being an influential economist, he’s an expert in international food and writes extensively about a wide range of topics. His interview podcast, Conversations with Tyler, features incredible guests from the worlds of literature, public policy, music, sports, medicine, and economics, and the conversations always go in interesting and often unexpected directions.
I hope this has been helpful. If you liked it, please share it with a friend! Also, please send me your feedback, requests, and success stories.