An Old Quote Still True Today

"People do not understand what a great revenue economy is."
Marcus Tullius Cicero

Cities missing out on Tax Revenues   We read an article this week (Arizona Republic) about how several Arizona cities have found that rental property owners are receiving an undeserved property tax credit. This oversight is resulting in a deficit in tax revenues. A few cities have hired lower paid interns or staff members to compare tax rolls to utility bills to uncover those owners who are renting homes rather than living in them. The city of Chandler, Arizona paid an intern $13 per hour and they quickly were able to recover over $400,000 in uncollected tax revenue.

Our whole point in writing this is that many municipalities have been hard hit by this recession and are crying for higher taxes and the need for more revenue. We saw the same thing when we did a lot of budget coaching — struggling families thinking that the only solution to their financial dilemma was to earn more money.

In both cases (governments and families) the solution isn't simply bringing in more money to make up for what we don't have, it's managing better what what you do have. If our government would simply manage better, instead of wasting so much, there would be less need for higher taxes.

Take it to the bank    Your family budget can benefit from the same scrutiny. Like Cicero said, economy can produce great revenue. Saving money is the same as giving yourself a raise. What can you do this week?

• Plan your shopping list better and only go to the store one time — no matter what. We've got a whole chapter in our new book (September 2010 release) dedicated to planning your shopping better.
• Requote your auto insurance (especially if you haven't done it in over 3 years).
• Balance your checkbook — we catch overcharges and errors several times each year.
• Start a realistic budget — read the budgeting chapter in our first book or this article if you are a subscriber to our web site.
• Turn off some unnecessary lights and cut your electric bill.
• Buy CFL's and reduce your electric bill and your cooling bill in the summer.
• Plan your errands in an efficient route so you only have to make one or two runs each week.
• Read the reader tips on our web site and get hundreds of more money saving ideas
• Send in your ideas so that others can enjoy the same savings you do.

Economy, frugality, saving, it doesn't matter what you call it, it simply means that you'll keep more of what you earn . . . and that should make you smile!