If I asked you, "What are the most common ways people waste money?," how would you respond?

You might say, "paying for unused memberships and subscriptions", or "buying things you don't really need", or "letting food go bad."

These are all common ways of wasting money, and there are plenty more. But one thing that likely wouldn't appear on your list, but should, is "paying too much in income taxes."

Every dollar of deductions you can find will reduce your tax bill by 10 to 37 cents. Every tax credit you can dig up will lower your bill dollar for dollar.

But here's the thing with taxes: Once the year ends on December 31, many of your opportunities to save vanish with it. That's why you should always do a quick review during the last few months of the year to make sure you're not missing something that could save you hundreds, or even thousands.

That's what this week's "Money!" podcast is about. We're going to talk about how to save money next April with a quick review now. And we're going to do it without making your eyes glaze over.

As usual, my co-host will be financial journalist Miranda Marquit. Listening in and sometimes contributing is producer and novice investor Aaron Freeman.

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