The Ultimate Tax Form Cheatsheet

1. Forgotten Subscriptions

How long has it been since the free streaming or content creation trial you signed up for expired? We're not psychic but we're sure you're looking at us with a blank stare or a set of surprised eyes.

Subscriptions are always tricky because they offer an enticing 7 or 30-day trial with an app's endless features. At this point, we're convinced marketers know we're likely to forget about the free period which is why we often see the same in-app scripts.

If you know you're not using certain apps or streaming platforms, make sure to cancel them because $4.99 — $9.99 per week or month adds up!

2. Premium Food Delivery Services

Sigh. This one's hard to write about because we love the convenience of having food from our favorite restaurants delivered to our front door. But, that's where the lie begins because there isn't anything convenient about delivery, taxes, silverware, and tip fees on top of the cost of your order. And when you add on a premium delivery fee that seemingly cancels a free delivery, you're still paying for it in some way.

This means you could spend over $100 per year to skip one fee, and you're not guaranteed to love your order or even get it in worst case scenarios. Yikes!

3. Pesky Auto-Renewals

Did you forget that you agreed to pay for an auto-renewal of a magazine you stopped reading? It happens to the best of us, and can be one of those hidden expenses that's easy to ignore. You think, "Oh, "$12.99 per year isn't bad," until you realize that the price somehow increased when you weren't looking. It's even worse if you're subscribed to more than one magazine that you no longer care about!

4. ATM Charges

There's a reason your bank highly recommends you use their ATM's to withdraw money because external sources usually charge a fee. It may seem small, but why should you be charged to get a little of your money?

If you can, skip the extra $2.99 charge for your transaction and find your bank's ATM.

5. Your Daily Coffee Shop Order

We've all told ourselves how essential our coffee shop orders are. They help us get through our work week and feel like one of the less expensive little treats we can indulge in. But, those daily orders are adding up.

For example, let's imagine someone named Ginny spends $10 per work day on her favorite drink and breakfast order. If she does this consistently for one month, she'll have spent an extra $200 per month on them!

TBH, this extra money could go towards savings, a bill, or an unexpected emergency.

6. Weekly Nail Salon Visits

We know getting your nails done counts as self-care, but it can be an expensive form of it. One of the things we've been relying on is giving ourselves at-home manicures or relying on press-on nails. They still fulfill our beauty needs without putting a dent in our bank accounts.

7. Credit Card Interest

If you think you're imagining an increase in your credit card interest, there's a good chance you're not. And it's worth looking into how much for the specific card(s) you have.

It's not as easy to tell you not to carry a balance every month because you may have had to pay for a surgery or emergency car repair, but this is how credit card companies get us. That interest can range from an extra $100 — $300 on top of your actual balance, meaning you're only paying a tiny portion of it each month.

Our advice is to pay more than your monthly fee so that you're able to put a dent in the interest as much as possible!

8. Leaving Lights On At Home Because You 'Can Do What You Want Now'

Most adults grew up hearing how leaving lights on at home was a cardinal sin, but there's a reason why parents fussed about it so much. It costs money that will show up on the next energy bill. Take it from one of our writers whose saw one of her bills skyrocket to almost $250 when she first moved out of her parents' home.

If you have to leave a light on, look into using energy saving light bulbs or burn a few candles for a dark romance vibe.

9. Splurging On Groceries Just Because

Say it with us: overconsumption isn't a goal this year! Usually we'd insert a little joke here, but buying a ton of groceries that'll likely go to waste just because you have the money for them isn't a flex. It's wasteful to your bank account and the environment.

Stick with the groceries you usually get or make a detailed list that includes items that you're going to meal prep instead of "winging it."

10. Daily Trips To The Gas Station

We're not talking about spending money on gas here. We know you might have a daily habit of stopping by the QT or BP near your house to get your favorite juice, Gatorade, or sunflower seeds pack. Although you can include them in your grocery trip, you've somehow convinced yourself that these items taste superior coming from the shiny convenience store.

We're here to gently burst your bubble by telling you they don't. The store's layout is just beckoning you to stop similar to the urge you get in Target.

In other words, you don't need to keep making daily trips there unless you want to keep pretending you're not sure where your money's going.

1. Talking About Money Can Expose Hidden Feelings

It's impossible to know how someone feels every second of the day, but we probably all think we have a good understanding of the people we're close to. But people are capable of hiding how they feel about something or burying their discomfort until certain situations 'expose' them. Why does it seem like money has a way of doing this?

Both Irwin and Dunlap agree that "money is taboo," leading people to avoid conversations about it. "Data tells us that we are more likely to talk about any other taboo topic—sex, politics, religion, even death—before we’ll talk about money," says Dunlap. West agrees and says, "Money is like that one friend who’s incredibly helpful but totally untrustworthy—everyone likes what they bring to the table, but no one wants to talk about them directly." Did you think of someone specific? It's okay because I did too!

The problem is that money can make "hidden insecurities come out, old sibling rivalries rear their heads," and more, according to West. "Even something like 'who paid for what' can suddenly become a life-or death conversation," she says. It's strange because Irwin says a Wells Fargo study shows that "many Americans across all ages are worried about money," proving we're all thinking about it, despite our avoidance issues.

2. And Money Can Also Create Unease In Conversations

"When we don’t have open conversations about money, we’re left to navigate it on our own, which can keep us feeling underpaid, overworked, or unsure about our financial situation," Dunlap points out. She feels "discussing money requires a huge amount of vulnerability" which "isn't easy for everyone." You may have seen how other topics are swept under the rug by family members or friends based on reasons they're not ready to talk about.

Though Irwin believes saying something like saying, "'Here's what's keeping me up at night' or 'here's what my goals are' could strengthen connections," Dunlap knows that "shame, comparison, or fear of judgement" can cause people to remain tight-lipped about their finances.

If you've experienced a weird moment because of money or had to be the unfortunate witness of an awkward conversation, my apologies. It's not fun no matter who's involved because, unfortunately, "money carries layers of emotions, like pride and insecurity, that turn simple conversations into potential minefields," says West.

Dunlap says there's a silver lining if people are willing to be open, however. "The key is respecting each person’s comfort level, and encouraging openness if they're willing to meet you there. It’s not going to be perfect at first, but by starting to share more about your own financial experiences, you can start to break the cycle of shame and fear around money. You might be surprised at how quickly others are willing to open up too."

3. Making Assumptions About Other’s Money Status And Financial Situation Can Lead To Disrespecting Boundaries

No one's saying you should never lend friends money, but being mindful about the decision is worth noting. West feels "it's complicated" while Dunlap believes the issue "can be tricky." There's a chance a low-key loan becomes an expectation that you should dish out money every time someone needs help, even if you're trying to maintain your own bills. "Lending money to a friend is like sharing your Netflix password—simple in theory, but one wrong move, and things get weird," West forewarns.

Dunlap also says, "When you lend money to someone close to you, there's always the chance that you won’t get it back. You want to be mentally prepared for that! Otherwise, it can strain your finances and your relationship. The emotional toll can be just as heavy, as unpaid loans can lead to resentment or awkwardness." It's not unusual to hear about certain friends being unreliable in more ways than one after you've let them borrow something. Unfortunately, Irwin indicates this happens because some people "don't expect to give something back that they've borrowed."

Because of this, Dunlap thinks "it's best to avoid loans if possible." Should you decide to move forward with helping out a friend who's in a bind, make sure you're both in agreement about repayment and what to expect moving forward. West says "having clear terms" or "gifting a small amount if you can afford it" is like "buying their friendship insurance." The latter is something Dunlap agrees with because it "helps prevent resentment if they can't pay you back as planned." Plus, she feels it also "keeps the loan within an amount you're okay with potentially losing."

4. Lending Money Is A Slippery Slope That Can Lead To Distrust And Resentment

It's amazing how money can lead to a friendship breakup if boundaries aren't created or respected. "Money is a sneaky little devil who can push everyone’s buttons. It can cause resentment if one person feels taken advantage of or someone’s 'casual loan' becomes an epic saga of unpaid IOUs," West says. Not only that, but Dunlap knows "money can strain relationships between friends and family by highlighting differences in how we value it, expect to use it, or feel about sharing it."

Friends and family members shouldn't take each other's kindness for granted, but human nature is fickle at times. That's not an indicator that someone you love is a "bad" person, but they may feel like you owe them your time and money. However, Irwin says this isn't "de facto that that person is entitled." Still, Dunlap is more than aware how this can play out. "For example, it can lead to resentment if one person is always the one picking up the tab, while another might feel uncomfortable or indebted because they’ve been helped financially," she says.

On the other hand, it can show up a little differently in families. She adds, "Issues like unequal inheritance or constant requests for financial help can lead to deep emotional tension. Money can also become a tool for power imbalances, where one person feels in control and the other feels dependent, and that can mess with trust and respect."

When certain negative patterns show up in relationships, it can make people decide to take a step back from being available. "And once distrust settles in, it’s hard to shake; nobody wants to be 'that friend' who’s forever dodging a Venmo request or getting side-eye from relatives at every family BBQ," West points out. How many times have you built up a wall with the people you love because of repeated unreliability or the expectation that you're supposed to help them whenever they ask? If you didn't hesitate to think of a moment, you're living proof that distrust can affect even the closest relationships.

Dunlap says, "When money becomes a main factor in a relationship, it can overshadow the connection, making it difficult to maintain genuine trust and understanding. You can avoid this by having open conversations with friends and family about your financial situation. Clear communication can help keep the focus on the relationship, not the money."

5. You Can Worry You're Not A Good Friend Or Family Member For Setting Money Boundaries

Worrying about how other people feel can keep us from setting boundaries. There's a difference between being an empath and a people pleaser, but it's easy to blur the lines. You can absolutely empathize with someone's hardship while knowing you're not in the position to lend the amount they may be looking for. I'm a huge fan of saying that two things can be true at once — because they can.

Irwin says you need to "address the conversation head on" if a friend does ask you for a loan. Your response may depend on if their ask was "emotionally-charged or "in an uncomfortable environment," but Irwin doesn't recommend ignoring it. If you're not in the space to respond, here's what she suggests saying in a "timely" fashion:

1. "Hey, I need time to think about this. Let me get back to you."
2. "We can help you, but here are our boundaries."
3. "We see and understand you, but we're unable to help because we're trying to pay off debt or save for _______."

Yes, Financial Boundaries Are Essential

Don't think you need to create financial boundaries for yourself and your friends? Think again. West says, "Establishing some ground rules is a lifesaver—think of it adding airbags to the friendship. Setting boundaries early on, like when you’re still in the happy, non-monetary part of the relationship, can protect both sides if things get sticky."

Here's how she advises you proceed with creating boundaries:

1. Keep it light and be honest; you’re not making a prenuptial agreement here, just letting them know you’d like to avoid “financial fireworks” later.
2. Say, “I’m your friend, not your ATM.” It’s funny but helps set the tone that your wallet isn’t a free-for-all.
3. Set a gift cap, such as, "I'm happy to chip in for brunch or a birthday, but let’s not get into home-loan territory.”
4. If you do lend, draw up a repayment plan. Think of it as adulting with a side of accountability to avoid “accidentally” becoming their financial fairy godmother.
5. Limit talk of big financial choices unless you’re genuinely invested together. After all, nobody needs to know how much their friend spends on avocado toast or scented candles, let alone home renos.
6. A little humor and some boundaries go a long way. You’ll save yourself a lot of awkwardness and keep the friendships intact, one “non-loaned” dollar at a time!

Tori says, "It's so important to have transparent conversations about money, set clear boundaries, and ensure that relationships are prioritized in any money exchange." Here are a few things you can try:

1. Communicate about your budget with a “gratitude sandwich.” Say you’re invited to an outing—a dinner, or a sports game—that isn’t within your budget right now. You can respond with the “gratitude sandwich.” The “pieces of bread” are positive, and the “meat” is the money thing you’re scared to say. Thank that person for the invite, let them know it’s not within budget right now, and then offer a cheaper alternative, reassuring them that you’d really love to see them. Offering an alternative reminds that person that declining their invitation isn’t about them, and you still care about them. In doing so, you prioritize your budget AND your relationship in the process.When in doubt, remember that no is a complete sentence. You don’t need to overcomplicate things, and sometimes a simple “no” is all you need.
2. Set expectations early. When planning trips with friends, discuss the budget and how costs will be split upfront. Having these conversations ensures that everyone is on the same page and helps avoid any misunderstandings. It creates a supportive, stress-free environment where everyone can enjoy the experience together without any added worries!

The Final Verdict:

Once you've weighed your options and considered what you need, you can decide to loan your friend money. However, Irwin wants you to consider being formal about it. "You can absolutely draft a promissory note or loan agreement so that your friend knows how serious you are about your boundaries. If you want, you can also put an interest rate on it," she says.

It's not to hurt your friend's feelings, but it is a boundary you can put in place so they think to themselves, "This is truly a loan because I'm borrowing money with the intent to pay it back," Irwin says. It could change the dynamics of your friendship, but it's more about being "purposeful about the language being used" so you and your friend can both move in the "right direction," according to Irwin.

If the idea of creating a 'loan agreement' sounds icky to you, Dunlap wants you to seriously consider it as "an extra bit of protection." She says all you need to do, again, is "try setting up a simple contract to outline repayment terms" because it "can help both of you stay on the same page and avoid misunderstandings down the road."

Her ultimate piece of advice? "Only lend what you're comfortable giving and potentially losing, and keep open communication to maintain trust and respect in the relationship."

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