News.Life

10 Surprising Things That Might Be Costing You Money Unnecessarily

Unknown expenses, money, personal finance, personal finance shopping, saving money

Many individuals shell out cash on items they believe fall outside their budget.


 Perhaps it's a coffee purchased on your commute to work that you could easily prepare at home, or maybe a fresh pair of shoes you did not actually require, acquired simply because they were discounted.


 Here are 10 items that specialists indicate might be an unnecessary expense.


 
 Regular tech upgrades:
 
 A marketing specialist named Bodo Lang from Massey University mentioned that many individuals squander funds by frequently “updating” their cellphones every one or two years. He explained, "Generally, the distinctions between older and newer versions are slight, so unless your current mobile device malfunctions or becomes inadequate, it’s advisable to keep using it for an extended duration—around three to five years."


 
 Subscriptions:
 
 If you find yourself with many unused subscriptions, it could swiftly turn into an unnecessary expense. These may include apps long since forgotten, several streaming services gathering dust, or recurring vitamin shipments you never needed. Recently, ASB introduced a novel “card tracker” tool designed to help individuals monitor and assess these subscriptions. According to the bank, one-third of ASB’s clientele spends over $100 monthly on such subscription-based costs.


 People find online subscriptions quite appealing due to the low upfront costs," Lang stated. "Nonetheless, these expenses add up significantly over one or even five years. Streaming services for music and movies illustrate this point well. The urge to stay informed, get fit, or be entertained through these specific means isn’t an essential requirement; rather, it’s a preference.


 
 Extended warranties:
 
 If you purchase a new device, you might be offered the option to buy an extended warranty.


 Rebecca Styles, who leads the investigation team at Consumer NZ, stated that individuals frequently spend large sums of money—hundreds of dollars—for coverage they already possess through consumer legislation.


 According to the Consumer Guarantees Act (CGA), both manufacturers and sellers must ensure that the items they provide meet a standard of reasonable quality and are suitable for their intended use. Generally, most devices, particularly those that are expensive, should function effectively for several years beyond what’s typically covered under the maker's warranty,” she explained.


 If your item develops an issue within a reasonable timeframe after purchase, you're entitled to get it fixed or, should repairs not be feasible, exchanged — this applies regardless of whether the maker’s guarantee period has lapsed.


 
 A few treatments for colds and flus:
 
 Belinda Castles, a research writer for Consumer NZ, stated that certain claims made by cold and flu treatments were not supported by evidence.


 "Many over-the-counter medications provide little benefit beyond a placebo effect. Instead, the most effective action is to consult with your physician for a medical certificate advising you to take some time away from work. This minimizes the risk of spreading the illness," she stated.


 Castle stated that paracetamol and ibuprofen were the optimal choice for those not feeling well, adding that these options are more economical compared to medications formulated specifically for colds.


 Nasal sprays might assist with stuffiness, however, relying on them beyond a few days can lead to adverse reactions.


 
 Some "green" products:
 
 It’s important to verify the certifications when you’re spending extra money on something claiming to be eco-friendly. According to Abby Damen from Consumer NZ, numerous consumers are willing to pay more for “sustainable” goods. "However, our evaluation of items at supermarkets and cosmetic products revealed many unsupported ‘eco’ assertions that companies failed to substantiate. Avoid being charged extra due to unfounded environmental promises.”


 
 Wasting money on power:
 
 Keeping your electric towel warmer running continuously may rack up about $3 per week. Although this might not significantly impact your expenses, exploring ways to reduce your electricity costs likely would—make sure to review periodically for potential savings opportunities.


 Based on your energy usage patterns, you might benefit from a time-of-use plan, which provides lower rates during off-peak hours. If you haven’t changed plans in the past couple of years, you may be paying an extra $300 to $500 annually. Try using Powerswitch or MoneyHub; they make it surprisingly simple to compare options,” advised investment consultant Jeremy Sullivan.


 
 Card surcharges:
 
 If you tap or wave your card for purchases, you might be losing up to 2% per transaction. Whenever possible, opting to insert or swipe may prove more financially savvy.


 
 Lotto tickets:
 
 Sullivan mentioned that individuals are squandering their cash on purchasing Lotto tickets. He stated, "The likelihood of hitting the jackpot? It’s one in 38 million. Actually, the real risk lies in considering it as part of your strategy rather than seeing it purely for fun."


 
 Travel insurance you possess currently:
 
 When traveling, if you've made your reservations using your credit card, you might discover that you already possess travel insurance and won’t require an additional one. According to Sullivan, individuals ought to verify their coverage details. “Credit cards such as ANZ Platinum or Westpac Mastercard come with built-in travel insurance—yet numerous folks end up spending over $150 for a standalone policy anyway. A prime example of overlooking the small print.”


 
 Avoiding negotiations on your mortgage rate:
 
 Sullivan advised individuals to advocate for themselves and seek improved interest rates from their banks when they were due to refix their home loans. "New Zealanders tend to be unusually courteous towards banks. Simply requesting a better offer from your bank could decrease your mortgage rate by 0.25 percent to 0.5 percent—saving you significant sums over the years. There’s no need for intense negotiation; simply make the request."


 Lang stated that what an individual required or lacked was personal and distinctive to each person.


 Essential items are generally considered necessities. Items that fulfill these requirements usually emphasize functionality more so than emotion or symbolism. These essentials often remain consistent over periods of time and among different cultural groups. Additionally, they're mostly not optional; lacking them can lead to significant repercussions. Consider things like sustenance, housing, medical care, learning opportunities, and fundamental attire.


 Desires, conversely, are typically influenced by cultural elements, societal fads, marketing strategies, and personal identity. These desires are usually subjective and can vary greatly; they frequently mirror one’s way of life, social standing, or emotional aspirations... Often these desires are driven by ambition, symbolism, or routine.


 The way people perceive their desires and requirements may be influenced by companies. Numerous costly buys like automobiles or kitchen gadgets, which offer no clear additional functionality compared to alternatives, often reflect consumer preferences more than actual necessities.


 However, even within budget-friendly product ranges, customers frequently purchase items driven more by desires rather than necessities. Consider anti-aging skincare lotions. According to research conducted by Consumer NZ, sunscreens perform much better at maintaining youthful and healthy-looking skin when contrasted with costly beauty creams. Nevertheless, shoppers are swayed by high prices, alluring marketing, and appealing packaging.


 Register for Ngā Pitopito Kōrero
 ,
 
 A daily newsletter handpicked by our editorial team, sent directly to your inbox each weekday.
 

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10 Surprising Things That Might Be Costing You Money Unnecessarily

Unknown expenses, money, personal finance, personal finance shopping, saving money

Many individuals shell out cash on items they believe fall outside their budget. Perhaps it's a coffee purchased on your commute to work that you could easily prepare at home, or maybe a fresh pair…

Self-Made Millionaire Reveals: Here’s Where Most Americans Fritter Away Their Money

Unknown expenses, personal finance, personal finance saving spending, personal finance shopping, saving money

<img data-document-id="cms/api/amp/image/BB1igT3l" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/BB1igT3l.jpg"/>

 If there's one thing I've learned on my journey from being $300,000 in debt to becoming
 a self-made millionaire
 , it's this: I wasn't broke because I didn't make enough money at the time — I
 
 felt
 
 broke because I overspent on things that weren't aligned with my health and
 wealth goals
 .


 Yes, I spend money on things I like. I love a good K-pop concert and a well-deserved vacation. But I also know that swapping unnecessary spending in some areas frees up money for things that truly matter, like
 investing
 ,
 financial security
 and experiences that
 bring real joy
 .


 Here are six points I believe Americans might consider
 spend far too much money on
 —that I also used to overindulge in! Instead, this is how I handle things nowadays.


 
 
 DON'T MISS:
 
 
 
 
 Ways to Begin a Side Business for Additional Income
 
 

<h4>
 1. Bulk grocery shopping (that ends up in the trash)
</h4>

 Buying in bulk can save you money, but only if you actually eat everything you buy. Let's be real. How many times have you bought the mega pack of spinach only to throw half of it away a week later?


 You're not getting a deal if you toss half of what you paid for in the garbage.


 I now buy produce weekly because I found myself not being able to finish the bag of avocados or kiwis, even though they were cheaper per item at the bulk price.


 When purchasing additional supplies for my pantry, I only get things that I will consume within the coming month, and I pay close attention to use-by dates.

<h4>
 2. Seasonal decorative home accessories
</h4>

 I get the urge to head to TJ Maxx and purchase a new wreath and some festive throw pillows for each holiday. However, rather than splurging on decor items that might quickly fall out of style, consider putting your money into classic, top-notch home basics. Then, refresh your space with minor, budget-friendly touches such as candles or fresh blooms.


 I switch out photos and keepsakes from concerts in the picture frames periodically.
 various sections of my house
 To keep it feeling new, without needing to change with the seasons, I've received numerous praises for my revolving collection of Broadway playbills.

<h4>
 3. Children's toys
</h4>

 Many children get more entertainment from the box than from the actual toy. It’s not uncommon for parents to shell out hundreds, even thousands of dollars, on toys that end up being discarded by their kids after just a few weeks.


 Simple is better. Switch out toys periodically rather than acquiring new ones, and value activities more than possessions.


 If the children require toys, consider having family members contribute. Since I am an aunt with no children of my own, I'm glad to occasionally purchase toys for my nieces and nephews, allowing their parents to use that money for other necessities instead.

<h4>
 4. Footwear that adversely affects your foot health
</h4>

 I'm guilty of having bought multiple pairs of shoes that look amazing but felt like medieval torture devices. I stopped buying shoes that don't fit, don't support my feet or that I'll only wear once.


 A few high-quality pairs of comfortable, well-made shoes will take you further, than a closet full of painful ones.


 Shoes are a great item to apply the $1 rule: If a high-quality pair of shoes costs $100 and you can wear them 100 times, then I think it's a worthy splurge — more so than a pair of discount shoes you'll only wear a few times

<h4>
 5. High-end skincare products
</h4>

 The beauty industry convinces people they need a 12-step routine with $80 serums, when most of it is marketing hype.


 I learned this the hard way when I got sucked into the K-beauty trend of buying all sorts of serums and masks, only to go back to my slightly less glamorous routine of pharmacy brand face wash and moisturizer.


 Stick to simple, dermatologist-approved products that actually work. Your skin (and your wallet) will thank you.

<h4>
 6. Overpriced athleisure
</h4>

 My $15 warehouse leggings and free t-shirts are just as good as the $100 Lululemon ones. People love to justify expensive activewear by saying it motivates them to work out, but wearing a fancy outfit doesn't do push-ups for you.


 Ironically, I've found that I have better workouts when I wear less expensive clothing because they tend to breathe better, since they're often looser and made of natural fiber than shiny material. When I wear the stuff I don't care that much about, I am more focused on the exercise itself, than how I look.


 Buy workout gear for function, not fashion. Focus on quality and comfort over brand names.

<h4>
 Save more money by reprioritizing
</h4>

 Ultimately, I'm not saying it makes sense to give up everything fun or live like a monk. But if you want to build wealth, start questioning if these short-term dopamine hits are really saving you money in the long run.


 Every dollar you don't waste is a dollar that you don't have to work for, whether that's growing your investments, paying off debt or funding a life that brings you a sense of peace.


 
 
 Bernadette Joy
 
 
 
 is the author of "
 
 
 CRUSH Your Money Goals
 
 
 " and a personal finance expert and investor dedicated to helping you beat burnout and reach financial independence.
 
 
 You can find her on
 
 
 Instagram
 
 
 ,
 
 
 YouTube
 
 
 and
 
 
 LinkedIn
 
 
 .
 


 
 
 Want to earn some extra money on the side?
 
 Take 's new online course
 
 
 How to Start a Side Hustle
 
 
 To acquire valuable insights and tactics for initiating your journey and achieving prosperity from leading side hustle professionals, sign up now. Apply the promo code EARLYBIRD to receive a 30% discount off the $97 fee (+ taxes and fees) until April 1, 2025.
 

<img data-document-id="cms/api/amp/video/BB1p9JfN" data-reference="video"/>

Self-Made Millionaire Reveals: Here’s Where Most Americans Fritter Away Their Money

Unknown expenses, personal finance, personal finance saving spending, personal finance shopping, saving money

If there's one thing I've learned on my journey from being $300,000 in debt to becoming a self-made millionaire , it's this: I wasn't broke because I didn't make enough money at the time — I f…

5 Tax Deductions You Can Claim Without Itemizing

Unknown expenses, income taxes, personal finance taxes, saving money, tax cuts

<img data-document-id="cms/api/amp/image/AA1ATJ8y" data-reference="image" src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1ATJ8y.jpg"/>

 Filing taxes can be quite challenging, and the phrase "tax deduction" often evokes images of stacks of receipts and complex computations merely for saving a small amount of money. However, here’s some positive information: you do not have to go through the process of itemizing deductions to benefit from significant tax savings and decrease your taxable income.


 Each year when handling taxes, you must decide whether to opt for the standard deduction or not.
 itemizing your deductions
 . Many of us overlook the
 standard deduction
 since it’s more convenient—and for many individuals, it currently offers a superior option.


 However, many people aren't aware that even if you don't itemize deductions, the IRS still allows you to reduce your tax liability with certain credits or adjustments.
 taxable income
 With specific "above-the-line" deductions. These act as guaranteed victories if you meet the qualifications.


 Below are five tax deductions you can still claim even if you opt for the standard deduction as do many U.S. taxpayers.

<h2>
 5 Tax Breaks Available Without Itemizing Deductions
</h2>

 These deductions, listed on Schedule 1 of IRS Form 1040, decrease your
 adjusted gross income
 , known as AGI, could result in a reduced tax liability for you.

<div class="my-8">
 <div class="SupplementaryLink">
 Learn more:
 Seeking additional tax savings? Consider these common tax credits that you shouldn't miss out on.
 </div>
</div>
<h3 id="traditional-ira">
 1. Traditional IRA contributions
</h3>

 Setting aside funds for your retirement is a wise decision that pays off both later and sooner. The growth of your IRA contributions isn't taxed until withdrawal, allowing you to postpone tax payments. Additionally, putting money into a traditional IRA might make your contribution deductible this year (in contrast, contributions to a Roth IRA use post-tax dollars, so they aren’t eligible for deduction).


 Anyone who invests funds into a
 traditional IRA
 It might be eligible for this above-the-line deduction. However, the sole limitation on claiming IRA contribution deductions happens when either you or your spouse has a retirement plan through your workplace, like a 401(k). Under those circumstances, certain income thresholds could restrict your capability to deduct these IRA contributions.

<div class="editorial-insight-box">
 
 
 Tax tip
 
 
 
 You have up to the tax filing deadline on April 15, 2025, to make contributions to a traditional IRA for the year 2024. This can be one of the limited methods available to decrease your tax liability once the year has ended.
 
</div>

 To express it differently, if you
 
 don’t
 
 If you have a retirement plan through your employer (and your spouse does not), there are no income restrictions for deducting your IRA contributions.


 In 2024 and 2025, you're permitted to contribute up to $7,000 annually ($8,000 if you're aged 50 or above). If your earnings fall under the phaseout threshold, you will likely receive a tax deduction equivalent to the total contribution amount.


 The following are the income caps for claiming deductions on contributions to a traditional IRA when you (or your spouse) participate in an employer-sponsored retirement plan, applicable for the years 2024 and 2025. (Refer to the IRS guidelines for computing these amounts.)
 adjusted gross income (AGI) modified for traditional IRAs (MAGI)
 .)

<h4>
 Income limits for deducting contributions to a Traditional IRA when you're also covered by a workplace retirement plan.
</h4>
<table class="Table Table--text Table--stripedOdd Table--spacing0 align-middle">
 <tr>
 <th>
 Filing status
 </th>
 <th>
 Adjusted gross income for 2024 taxes (modified version)
 </th>
 <th class="has-text-align-left">
 Adjusted gross income for 2025 after modifications
 </th>
 <th class="has-text-align-left">
 Deduction amount
 </th>
 </tr>
 <tr>
 <td>
 Unmarried, as the head of a household, or married but filing separately (did not reside with your spouse throughout the year)
 </td>
 <td>
 Up to $77,000
 </td>
 <td class="has-text-align-left">
 Up to $79,000
 </td>
 <td class="has-text-align-left">
 Full deduction
 </td>
 </tr>
 <tr>
 <td>
 $77,000 to $87,000
 </td>
 <td class="has-text-align-left">
 $79,000 to $89,000
 </td>
 <td class="has-text-align-left">
 Partial deduction
 </td>
 </tr>
 <tr>
 <td>
 $87,000+
 </td>
 <td class="has-text-align-left">
 $89,000+
 </td>
 <td class="has-text-align-left">
 No deduction
 </td>
 </tr>
 <tr>
 <td>
 Filing as married couples where both are covered under a workplace retirement plan
 </td>
 <td>
 Up to $123,000
 </td>
 <td class="has-text-align-left">
 Up to $126,000
 </td>
 <td class="has-text-align-left">
 Full deduction
 </td>
 </tr>
 <tr>
 <td>
 $123,000 to $143,000
 </td>
 <td class="has-text-align-left">
 $126,000 to $146,000
 </td>
 <td class="has-text-align-left">
 Partial deduction
 </td>
 </tr>
 <tr>
 <td>
 $143,000+
 </td>
 <td class="has-text-align-left">
 $146,000+
 </td>
 <td class="has-text-align-left">
 No deduction
 </td>
 </tr>
 <tr>
 <td>
 Filing as married couples where both partners are part of an employment benefit plan
 </td>
 <td>
 Up to $230,000
 </td>
 <td class="has-text-align-left">
 Up to $236,000
 </td>
 <td class="has-text-align-left">
 Full deduction
 </td>
 </tr>
 <tr>
 <td>
 $230,000 to $240,000
 </td>
 <td class="has-text-align-left">
 $236,000 to $246,000
 </td>
 <td class="has-text-align-left">
 Partial deduction
 </td>
 </tr>
 <tr>
 <td>
 $240,000+
 </td>
 <td class="has-text-align-left">
 $246,000+
 </td>
 <td class="has-text-align-left">
 No deduction
 </td>
 </tr>
 <tr>
 <td>
 Filing as married but living apart from one’s spouse for some part of the year
 </td>
 <td>
 Up to $10,000
 </td>
 <td class="has-text-align-left">
 Up to $10,000
 </td>
 <td class="has-text-align-left">
 Partial deduction
 </td>
 </tr>
 <tr>
 <td>
 $10,000+
 </td>
 <td class="has-text-align-left">
 $10,000+
 </td>
 <td class="has-text-align-left">
 No deduction
 </td>
 </tr>
 <tr>
 <td>
 Source: IRS
 </td>
 </tr>
</table>

 Keep in mind that, should you (along with your spouse if married) be
 
 not
 
 If you're covered by an employer retirement plan, your contributions remain fully tax-deductible irrespective of how much you earn.

<div class="my-8">
 <div class="SupplementaryLink">
 Learn more:
 In both 2024 and 2025, we can review the respective tax brackets along with the prevailing federal income tax rates.
 </div>
</div>
<h3>
 2. HSA contributions
</h3>

 If you have a high-deductible health plan (HDHP), contributing to a health savings account can help you save both immediately and down the road. Contributions to an HSA are tax-deducatable, your funds grow without being taxed until withdrawn, and when used for eligible medical costs, these withdrawals remain untaxed.


 The allowable deductions for Health Savings Account (HSA) contributions in 2024 (which would apply to tax filings made in 2025) are as follows:

<ul>
 <li>
 Up to $4,150 for individual recipients
 </li>
 <li>
 As much as $8,300 for family units
 </li>
 <li>
 Individuals aged 55 and above can contribute an additional $1,000.
 </li>
</ul>
<div class="editorial-insight-box">
 
 
 Tax tip
 
 
 
 You have until the April 15, 2025, tax filing deadline to make contributions to your Health Savings Account (HSA) for the 2024 tax year. This is among the rare methods available to decrease your taxes even after the year has concluded.
 
</div>

 The allowable deductions for Health Savings Account (HSA) contributions in 2025 (applicable to tax filings made in 2026) are as follows:

<ul>
 <li>
 Up to $4,300 for individual recipients
 </li>
 <li>
 Up to $8,550 for family units
 </li>
 <li>
 Individuals aged 55 and above can contribute an additional $1,000.
 </li>
</ul>

 In order to make HSA contributions, you need to be part of a qualifying HDHP and should not have coverage from another group plan.

<div class="editorial-insight-box">
 
 
 Tax tip
 
 
 
 Should your employer make contributions to your Health Savings Account, those funds will count towards your yearly contribution cap.
 
</div>
<h3 id="student-loan-interest">
 3. Tax deduction for student loan interest
</h3>

 While student loan repayments might hurt, there's a bright side: you can claim a deduction for up to $2,500 in interest paid annually on both federal and private student loans.


 In order to be eligible for this complete deduction, you have to:

<ul>
 <li>
 have covered interest payments on a student loan for you, your spouse, or a dependant.
 </li>
 <li>
 have removed the loan to cover eligible educational costs.
 </li>
 <li>
 have a modified adjusted gross income (or MAGI) below the limits (see below).
 </li>
 <li>
 Should not be considered as another person's dependent.
 </li>
</ul>

 Below are the income thresholds for claiming the student loan interest deduction when filing your 2024 taxes in 2025 (refer to the IRS guidelines for more details).
 determining Modified Adjusted Gross Income for the student loan interest deduction
 ):

<h4>
 Income thresholds for deducting student loan interest in 2024
</h4>
<table class="Table Table--stripedOdd Table--spacing1 align-middle">
 <tr>
 <th>
 Filing status
 </th>
 <th>
 Adjusted gross income for 2024 after modifications
 </th>
 <th>
 Deduction amount
 </th>
 </tr>
 <tr>
 <td>
 
 Unmarried, individual filer, head of household, or eligible widow(er)
 
 </td>
 <td>
 
 $0 to $80,000
 
 </td>
 <td>
 
 Full deduction
 
 </td>
 </tr>
 <tr>
 <td>
 
 $80,000 to $95,000
 
 </td>
 <td>
 
 Partial deduction
 
 </td>
 </tr>
 <tr>
 <td>
 
 $95,000+
 
 </td>
 <td>
 
 No deduction
 
 </td>
 </tr>
 <tr>
 <td>
 
 Married filing jointly
 
 </td>
 <td>
 
 $0 to $165,000
 
 </td>
 <td>
 
 Full deduction
 
 </td>
 </tr>
 <tr>
 <td>
 
 $165,000 to $195,000
 
 </td>
 <td>
 
 Partial deduction
 
 </td>
 </tr>
 <tr>
 <td>
 
 $195,000 or more
 
 </td>
 <td>
 
 No deduction
 
 </td>
 </tr>
 <tr>
 <td>
 
 Married filing separately
 
 </td>
 <td>
 
 N/A
 
 </td>
 <td>
 
 No deduction
 
 </td>
 </tr>
 <tr>
 <td>
 Source:
 IRS
 .
 </td>
 </tr>
</table>
<h3 id="educator-expense">
 4. Educator expense deduction
</h3>

 It's quite typical for teachers to spend their own funds on classroom materials. Luckily, qualifying educators may claim a deduction for at least part of these expenses.


 Teachers, instructors, guidance counselors, and school principals who work at least 900 hours annually are eligible for this tax reduction, which can be as high as $300 per person (or $600 for married couples where both partners are involved in education).


 This
 educator expense deduction
 covers job-associated costs like educational tech, textbooks, supplies, training programs, and other essential items.

<div class="editorial-insight-box">
 
 
 Need an advisor?
 
 
 
 Looking for professional advice on handling your finances?
 
 
 ’s AdvisorMatch
 I can link you with a Certified Financial Planner™ who will assist you in reaching your financial objectives.
 
</div>
<h3 id="self-employment">
 5. Self-employment deductions
</h3>

 What about freelancers, gig workers, and entrepreneurs? If you're self-employed, there are multiple
 business tax deductions
 To assist in reducing your taxable income on Schedule C.


 However, when you're completing your tax return and you input your net business earnings from Schedule C into it,
 Form 1040
 , you might also be eligible for certain above-the-line deductions (which should be entered on Form 1040’s Schedule 1).


 The three key points are:

<ul>
 <li>
 The self-employment tax deduction works as follows: If you're self-employed, you must cover both the employer and employee shares of Social Security and Medicare taxes. However, half of this tax amount can be deducted.
 </li>
 <li>
 Contributions to your SEP IRA, SIMPLE IRA, or solo 401(k) plans typically offer tax deductions.
 </li>
 <li>
 If you pay for health insurance but do not qualify for coverage through your employer, you have the option to deduct 100% of the premium costs for yourself, your spouse, or your dependents.
 </li>
</ul>
<h2 id="bottom-line">
 Bottom line
</h2>

 Paying taxes isn't enjoyable, yet reducing expenses can be rewarding. You don't require complex itemized deductions to lower your tax liability.Above-the-line deductions are accessible regardless of whether you choose the standard deduction or opt for itemizing your deductions, simplifying the process of retaining more of your well-deserved income.


 These deductions can accumulate rapidly, be it for repaying student loans, saving for retirement, or handling healthcare costs. Spending a short time verifying your eligibility might result in savings of hundreds or even thousands of dollars in taxes.

5 Tax Deductions You Can Claim Without Itemizing

Unknown expenses, income taxes, personal finance taxes, saving money, tax cuts

Filing taxes can be quite challenging, and the phrase "tax deduction" often evokes images of stacks of receipts and complex computations merely for saving a small amount of money. However, here’s so…