The Simplest Way to Bring Home More Money


Recently, I had a couple come to me for financial advice. Like many of us, they were spending more money each month than they were bringing home.

One question helped me to come to the conclusion that they could significantly increase their monthly take home pay without making any major financial sacrifices.

The question was, “Did you receive a tax refund this year?” 

They received a $5000 tax refund in March.

Just like lots of other people, this couple looked forward to their tax refund each Spring as if it’s a bonus from the government. But in reality, it was an indication they overpaid taxes every month when they could have used that money to take care of their monthly living expenses. In essence, they allowed the government to borrow their hard earned money without paying interest.

I asked them if they could use an extra $400 each month. They said, "Sure! That would help us a lot!"

I explained, "Simply go to, print out and complete Form W-4. Then take it to your companies’ HR department and they will withhold the correct federal income tax from your pay.

The W-4 Form has a simple worksheet which allows you to see the correct number of withholdings for you. In their case, they could “exempt” federal taxes which would stop federal tax withholdings for the remainder of the year. This couple will now bring home an additional $400 each month, which will help balance their monthly budget and still receive about $1000 in the Spring!

If you STILL insist on letting someone borrow your money interest-free, feel free to send me $400 a month! I will hold it for you and give it back at the end of the year . . .

What? You trust the government more than you trust me? 

. . . Just kidding. Don’t send me your money and don’t overpay your taxes either. 

If you received over $1000 in a federal tax this year refund, consider adjusting your tax withholdings today! It’s the simplest way to increase your monthly take home pay.

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