Money Management Tips

See how to beat inflation and increase your Buying Power.

2007-10-31T10:29:00.000-07:00

Well, the time has finally come! The new Free Trial offer is now available for The Berry Tree.

2007-10-30T07:20:00.000-07:00

Well, the time has finally come! The new Free Trial offer is now available for The Berry Tree.

The Free Trial offer allows new members to join the business for $4.95 S&H, and check it out for 30 days, before they are charged as Full Members.

The members who join through the Free Trial will receive a sample of the O2 Berry product and a Nutronix catalog. This catalog will go a long way to showing Free Trial members the extensive line of Nutronix products available.

We are launching the Free Trial with a special - limited time - offer for new members to give them an incentive to Upgrade to Full Berry Tree members before their Free Trial is up. If they Upgrade to a Full Berry Tree member WITHIN 7 days of starting the Free Trial, they will get a Bonus Berry Member Credit (BMC). The BMC is a credit toward the bonus pools in the Berry Tree. It normally takes 4 months to earn a BMC so this is a very special offering and will advance you toward making money in the Berry Tree pools.

It is important you know this so you will take advantage of this special offer and not wait for the end of their Free Trial before upgrading to a Full member. All you need to do to upgrade from a Free Trial member to a Full member is to login their Berry Tree back office and click on the "Upgrade Now" Button. The Upgrade button will ONLY appear in the back office of Free Trial members during their first 30 days or until they upgrade to a full member. After that, it will disappear.

The extra BMC is a limited time special, and could be removed at any time, without warning, so make sure you take advantage of it while it's there!Join The Berry Tree Now! http://www.gotmyberrytree.com/

“ANNOUNCING 'The Berry Tree'... A Revolutionary New Business System”

2007-10-30T07:18:00.000-07:00

Make money working from home part time for less than a cup of coffee a day.We make starting your own business easy and we guarantee your success.Get started now with our free offer! http://www.gotmyberrytree.com/

The Berry Tree Nutronix Convention

2007-09-14T10:58:00.000-07:00

Well...
Next week The Berry Tree and Nutronix will be holding their 2nd convention. Last year was the first convention. I will not be attending the convention this year but if all goes well I hope to go to the convention next year. This year it will be held in Orlando, Florida.

There are hints of some new products to be announced and some additional benefits for members to help then/ us to build out businesses. I am looking forward to the announcements to come out of the convention.

This convention will be the Official Launch of The Berry Tree business. We have been in pre-launch since March of this year. So this is a big month for The Berry Tree.

To check out The Berry Tree business visit this link and watch the 5 minute Video http://www.gotmyberrytree.com/

Time to get serious about making money

2007-09-08T13:51:00.000-07:00

Yes it is time to get serious about making money. That is why I have redirected my efforts to focus on one company; The Berry Tree. I know that if I just stick with this company I will eventually make money. I can treat this like an investment in the stock market. I pay a small fee ($56) for which I get a Nutritional product and the company promotes my business for me. The Berry Tree does the advertising and placement of new members in my down line for me. I can remain completely passive and still make money.

Now I can speed up the money making process if I wish by seeking new members on my own. I can also join the Parent Company Nutronix to make additional money with very little effort on my part. The two companies work together to allow you to increase your money making income by allowing your new members a place in each company. This means that you recruit once and then your new member can join one or both money making opportunities. Therefore with very little extra effort you are able to build two businesses at the same time increasing the money you make.

So For more info just visit either website: http://www.gotmyberrytree.com/ or http://www.gotmyberrytree.info/

“Give a man a fish, feed him for a day… If you teach him to fish, you feed him for a lifetime.”

2007-09-06T09:00:00.000-07:00

“Give a man a fish, feed him for a day… If you teach him to fish, you feed him for a lifetime.”

This is what most people think they want. They want to learn how to fish so they can feed themselves for a life time. But this is not True, Most people really don't want to learn how to fish. It is hard work learning how to fish, They may not like to fish, They may not have the skills to fish. Let's face it not everyone is cut out to be a fisherman. So What do they do? They buy the Fish. It is easier and cleaner and less hassle just to buy the fish.

So How does this apply to making money. Well do you want to learn how to make money? Do you want to learn the skillls to be successful? Do you want to buy the tools you need to make money? Do You want to join a program that will teach you how to make money. Do you want to join a program that will give you the tools you need to make money?

What if you don't like to do what you need do to make money? What if you are no good at making money? What if you cannot find a program you would like to make money?

What if YOU could make money by just joining a program that made money for you. What if YOU did not have to do anything but join the program and wait for the program to make money for you. You did not have to lift a finger and the program would make money for YOU.

You don't spend time learning how to make money.

You don't buy any tools to make money.

You don't have to be good at making money.

Well, There is such a program. A program YOU can join that will make you money by just joining it. There is NO Learning, NO buying tools, NO needing to be good at anything.

Don't believe me, At least take a look...and be prepared to take action.

Here it is: http://www.gotmyberrytree.com/

Start Your Own Home Based Business

2007-09-02T17:33:00.001-07:00

Start Your own Home Based Business Online. We will show you how.

You WILL Succeed in this business. The Company advertises and will grow this business for you. It will recruit new members and place them under you.

You will earn money on these recruits. You will also earn credits toward bonus pools which pay you a per cent of the profit of the while company. This is a new Patent pending compansation plan. No one else is doing this. Click on the Banner to go to
my website explaining this business or go to the URL in this post.

http://www.gotmyberrytree.com/

Money Management Tips - Online Tax Preparation

2006-02-23T10:29:00.000-08:00

If you are tired of paying high fees to get your taxes prepared, why not try an online tax prep service.

If your taxes include one or more W-2 Forms for wages earned and maybe a 1099-int form for interest earned from a bank account. You should be able to easily and quickly prepared your taxes online.

I feature the TaxBrain Service on this Blog.

TaxBrain's KnowledgeBase contains helpful tax law information and line-by-line instructions to help you every step of the way. And their friendly, knowledgeable support team is available to answer all your filing income tax questions, toll free, Mon-Fri. 9 am to 4 pm Pacific Time.

Deduct Tax Prep Fees From Your Tax Refund

When you're expecting a tax refund you don't have to use your credit card or pay anything out of pocket!

Money Management Tips - Individual Retirement Accounts

2006-02-23T10:06:00.000-08:00

NOW is the time to think about starting an Individual Retirement account (IRA).It is never too early or too late to start saving for your retirement. If you open a Traditional IRA before April 15th of this year you will reduce your tax bill for 2005 and you may be eligible for the retirement saver’s tax credit. The Saver”s Tax Credit is the government’s way to encourage you to save for your future.

Personally, I prefer the Roth IRA. With the Roth IRA you contribute after tax dollars. Money you take out of your pocket or a savings account. Money that you already have paid taxes on. When you contribute to a Roth IRA, it will not reduce your taxes for the 2005 year. However, the big advantage is that when you withdraw your money you will not pay any taxes on it. This is significant because the money will not increase your taxes during the years you withdraw it. Therefore if you are getting Social Security benefits or you are working part time the money you with draw from the Roth IRA will not increase your taxes and will not decrease your Social Security benefits. The same withdrawal from a traditional IRA could do both and hurt your bottom line.

New Blog - Income Tax Help

2005-12-06T09:42:00.000-08:00

I have created a new Blog called Income Tax Help. This Blog was set up to provide useful information to help taxpayers complete their Income Tax Returns. I also hope to provide some simple advice to help taxpayers to achieve their financial objectives.

Taxes are a subject most people want to ignore. But the truth of the matter is that most of us must report our income to the IRS and pay taxes. I hope this new Income Tax Help Blog will provide some useful information and help stimulate ideas to help you prepare your taxes or help you converse with your tax preparer. to access the new blog click on this link:

http://incometaxhelp.blogspot.com

Money Market Tip - Dividend-Paying Stocks May Lead a Trend

2005-06-08T19:48:00.000-07:00

Dividend-Paying Stocks May Lead a Trend: "The emerging leadership of dividend-paying stocks has some market watchers spotting a broader trend: With earnings growth on the decline, there's renewed interest in what was once considered an old-fashioned investment."

"Back in the old days, people bought stock for the dividends," Kleintop said. "It's only been in the last couple decades people focused more on stocks going up than what they paid in dividends. And now that may finally be reversing."

Money Management Tips - If Real People Ran the Bank - I (a spoof for the heart)

2005-06-04T14:38:00.000-07:00

If Real People Ran the Bank - I (a spoof for the heart) by: Lynella Grant

Banish Loans Forever

If ordinary, hard-working, people ran the bank... the very first thing to get rid of would be loans. Absolutely no more loans!

Because once they’re gone, there wouldn’t be any more:

* Due dates
* Interest charges - at any rate of interest
* Late fees or penalties
* Liens
* Applications or rejections
* Credit reports [Old joke - If it weren’t for bad credit, I wouldn’t have any credit at all
* Playing catch-up month after month

And that means all the related emotional frustrations vanish as well. That would certainly make a lot of people happier. Don’t you think?

Instead of lending money, how about just giving it away? That should make everyone happier still.

Imagine a bank saying, "Help yourself - and never worry about paying it back." If it doesn’t matter whether money ever gets repaid - there goes accounting and bookkeeping. There goes financial records. There goes debt - along with bad debt. But that’s not a stretch for a bank that re-writes the rules. If you thought familiar bank policies were cast in stone, think again.

Up with Emotional Solvency - Down with Debt

A whimsical bank that just started on the Internet eliminates debt and loans. Won’t touch ’um. No way, for nobody. That’s because it rates a person’s emotional health higher than their financial wealth.

This quirky website places more value on emotional solvency than wealth accumulation. Huh? How’s that possible? It’s the logical (illogical, more like it) outcome of putting feelings first. And its other policies are equally unprecedented and unique. http://www.joyfulbanker.com/goofypoliciesdept.html

The Joyful Banker is a parody of all things financial. It just wants to make you happy - and it wants to keep money worries at bay (even if only for a little while). It exists solely to amuse and delight. To make people feel both generous and rich - with access to unlimited money (admittedly funny munny). This site delivers a high level of frivel (wordplay), giggle, and absurdity in the process.

People are More Valuable than Money... Really

Joyful Banker’s avowed purpose is to deliver joy and up-beat energy to all comers. But it can’t pull it off without putting money in its rightful place - which isn’t first place. Or even second. This is the only bank on the planet devoted to what’s really valuable - relationships, generosity, kindness and joy.

Joyful Banker is the Mother Lode of Binkle Lore and Wisdom

A binkle is the energy that’s created when people really connect with each other, with nature, or
anything that inspires. It’s the zizz of energy one feels. Although the word is new that feeling is not. It’s been part of every profound or happy experience you can remember. That sensation is always called something else: love, awe, the thrill, peace, inspiration, etc. But the energy of that moment is binkle energy.

This joyous website is devoted to increasing binkle energy in any way possible http://www.joyfulbanker.com/binklepage.html It’s not hard to find binkles showing up anywhere - if you’re looking for them. Can’t have too many. But if you run low, just come beck to fetch some more.

Probably should warn you - it’s addictive. The zizz of binkle energy keeps you constantly alert for how to get more more. And if you can’t find any... that’s a downer. But a moment of caring and sharing is sure to get them flowing.

The Binkle Standard Simplifies Your Life

1. Spend MORE of your time and attention with people (or activities) that give binkles

2. Spend LESS time and attention on people (or activities) that drain binkle energy

3. Pass it around! Leave a trail of binkles wherever you go

That’s it! But the rewards you feel cannot be exaggerated. Playing "spot the binkle" sure beats a Do List when it comes to banishing stress. Not to mention, it attracts some pretty nice people.

There are still a few bugs being worked out. The funny munny is just for fun. Not to knock fun, but you can’t use joy bucks to pay the phone bill.

Come to the Joyful Banker for Binkles and Joy

Anyone who comes to the website has an account (their email address), so can partake in the Unlimited Withdrawals or Open Vault policies. This is one financial institution that won’t leave you empty handed. Or empty hearted, either.

© 2005, Lynella Grant

This is Part 1 of a 5-part series.

Read the rest http://www.joyfulbanker.com/articles.html

About The Author
Lynella Grant - The Joyful Banker, a parody of all things financial http://www.joyfulbanker.com The funnest, most joyous fool service non-bank in the world. With unlimited withdrawals. Off the Page Press (719) 395-9450 mailto:banker@joyfulbanker.com

grant@joyfulbanker.com

Money Management Tips - Can You Buy Luxury Home Brands Online and Save - Worry Free?

2005-06-04T14:31:00.000-07:00

Can You Buy Luxury Home Brands Online and Save - Worry Free? by: Kevin Taylor

Are you frustrated with the high prices you've been quoted for luxury home decor?

What if you could safely take advantage of the great selection and value of online shopping for home decor items that are normally $1,000, $5,000, even $10,000?

Here's some great news for people who need to bring their new dream home or home renovation costs under control.

Multitudes are making the most of their dollars by shopping for bathtubs, bath fixtures, fireplaces, and kitchen fixtures online with "customer first" outlet sites.

Buy only from outlet sites that have taken extra effort to make you feel comfortable ordering upscale home decor brands online.

What you should look for, beyond the great prices, to ensure your high-end brand home decor purchase is hassle and risk free?

Having a clear understanding of the return policies before you buy can make a big difference in your experience.

Luxury Home Decor outlet sites that are looking for lifetime customers have clearly written policies and specified services in these key areas. This information can easily found on their sites under "our policies" type links.

You should also see BBB (better business bureau) and "Verisign" banners on any outlet site you buy from. "Authorized Dealer" is another important statement to look for as you can be assured the manufacturer will honor the warranty.

There is a big advantage to buying luxury bathtubs, kitchen wares, fireplaces, and home decor items online - to find exactly what you need at an affordable price.

It is also great to get a comparative price when you already know exactly what you want based on in-store shopping.

Remember that however great a price may be online, it isn't an apples to apples comparison unless the shipping and return policies are comparable - or better online!

Go to http://luxury-home-decor.maxsvr.com/ for more tips and information.

About The Author

Kevin Taylor is freelance home improvement writer /webmaster in Toronto, Canada. More information on buying luxury home decor can be found at: http://luxury-home-decor.maxsvr.com/

Money Management Tips - How To Rebuild Your Credit with A Prepaid Debit Card

2005-06-01T21:14:00.000-07:00

How To Rebuild Your Credit with A Prepaid Debit Card by: R. Sharp

Consumers today are up to their eyeballs in debt. And many people don't realize it until their good credit has been devastated.

As a result, many credit repair agencies are popping up all over the internet, on television and in the newspapers making sweeping guarantees that they can erase your bad credit and remove bankruptcies, judgments, liens, and bad loans from your credit history - forever!

Consumers are flocking to these credit repair clinics in droves. However, estimates show that credit repair companies have defrauded consumers in the United States alone out of more than fifty million dollars.

The truth of the matter is that depending of the extent of the damage to your credit history, the best strategy could be a self help strategy - not giving away hundreds or even thousands of dollars in up-front fees to an agency that in the end may do nothing to restore or improve your credit.

After researching the topic quite extensively, I found one great method that works well for some people is a method I call “beating the credit reporting bureaus at their own game”.

I report about it in more detail on my Prepaid Debit Card Site (www.debit-card-guide.com), however, in brief, this strategy involves taking advantage of signing up for prepaid debit cards which offer a built-in credit reporting feature.

A prepaid debit card is a great solution for a lot of people because the money you spend is your own and in most cases you cannot spend over the amount you have in your account.

This is a good solution for people who may have had difficulties with debt or bankruptcy in the past because a prepaid debit card is a great tool for developing invaluable financial management and budgeting skills.

A major bonus of some prepaid debit cards today is that during the sign-up process you are offered an additional service that will help you rebuild a bad credit history by having your monthly payments reported to one or more of the major credit reporting agencies.

Subsequently, each month your card's issuer credit reporting partner will process your payment record and verify that your payment is properly posted to the credit bureaus' records.

There is a small additional fee for this service each month, however, the fees are minimal by comparison to the sometimes outrageous fees and interest payment some credit card companies charge people with bad credit.

This fee is usually billed to you through your prepaid card each month and enables you to show a continuous history of activity within the credit system.

These prepaid debit cards help you rebuild your credit so you can get on with your life and is just one of the many self-help strategies that I recommend.

To learn more about rebuilding your credit through the use of a prepaid debit card simply do a search in one of your favorite search engines or visit www.debit-card-guide.com for more specific card information.

About The Author

To read more of Ms. Sharp's articles about Prepaid Debit Cards, check out THE definitive guide to debit cards of all kinds including: prepaid mastercards, prepaid debit cards, debit gift cards, mastercards, and debit mastercard at: http://www.debit-card-guide.com.

webmaster@debit-card-guide.com

Money Management Tips - Guide to Shopping Online Safely

2005-05-28T11:53:00.000-07:00

Guide to Shopping Online Safely by: John Mussi

Shopping on the Internet has now become commonplace. The Internet is an exciting tool that puts vast information at your fingertips. With a click of a mouse, it lets you buy an airline ticket, book a hotel, send flowers to a friend, purchase your favourite item, bank and invest online.

Shopping online offers lots of benefits that you won’t find shopping in a store or by mail. The Internet is always open – seven days a week, 24 hours a day – and bargains can be numerous online. Most consumers use credit or debit cards to pay for online purchases.

Online Payment options:

Most online shoppers use credit cards to pay for their online purchases. But debit cards - which authorize merchants to debit your bank account electronically - are increasing in use. To complete a debit card transaction, you may have to use a personal identification number (PIN), some form of a signature or other identification, or a combination of these identifiers. Some cards have both credit and debit features: You select the payment option at the point-of-sale. But remember, although a debit card may look like a credit card, the money for debit purchases is transferred almost immediately from your bank account to the merchant's account. In addition, your liability limits for a lost or stolen debit card and unauthorized use are different from your liability if your credit card is lost, stolen or used without your authorization.

Precautions:

Shopping on the Internet is no less safe than shopping in a store or by mail. Keep the following tips in mind to help ensure that your online shopping experience is a safe one.

•Use a secure browser - software that encrypts or scrambles the purchase information you send over the Internet - to help guard the security of your information as it is transmitted to a website. When submitting your purchase information, look for the "lock" icon on the browser's status bar, and the phrase "https" in the URL address for a website, to be sure your information is secure during transmission.

•Check the site's privacy policy, before you provide any personal financial information to a website. In particular, determine how the information will be used or shared with others. Also check the site's statements about the security provided for your information. Some websites' disclosures are easier to find than others - look at the bottom of the home page, on order forms or in the "About" or "FAQs" section of a site. If you're not comfortable with the policy, consider doing business elsewhere.

•Read and understand the refund and shipping policies of a website you visit, before you make your purchase. Look closely at disclosures about the website's refund and shipping policies. Again, search through the website for these disclosures.

•Keep your personal information private. Don't disclose your personal information - your address, telephone number, bank account number or e-mail address - unless you know who's collecting the information, why they're collecting it and how they'll use it.

•Give payment information only to businesses you know and trust, and only when and where it is appropriate - like an order form. Never give your password to anyone online, even your Internet service provider.

•Keep records of your online transactions and check your e-mail for contacts by merchants with whom you're doing business. Merchants may send you important information about your purchases.

•Review your monthly credit card and bank statements for any errors or unauthorized purchases promptly and thoroughly. Notify your credit or debit card issuer immediately if your credit or debit card is lost or stolen, or if you suspect someone is using your accounts without your permission.

--

About The Author

John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.

Money Management Tips - Planning Starts with the Basics

2005-05-28T11:49:00.000-07:00

Planning Starts with the Basics by: Jonathan Citrin

When developing a plan for your finances, the toughest question often is: “Where do I begin?” Before investing in stocks and bonds or buying life insurance, before implementing any change or making any decisions, you first need to analyze and understand your entire financial picture. Two documents allow you to do just that. A Balance Sheet and a Cash Flow Statement enable you to take an in-depth look at your current financial situation and make better decisions about the future. With a little work, you can develop these two tools and be on your way to a solid plan for your finances.

Balance Sheet

A balance sheet is a snapshot of your personal finances at one point in time. It contains two main elements: what you own (assets), and what you owe (liabilities). Your net worth is expressed as: Net Worth = Assets – Liabilities. That is, what you own minus what you owe.

A balance sheet clearly lists all assets and liabilities. Examples of assets include: house, investments such as stocks and bonds, savings and checking accounts, 401(k), IRAs, business interests, artwork, and jewelry, among others. Liabilities include mortgage balances, credit cards, education loans, and any other debt. Once you have created a list of everything you own and everything you owe, simply subtract the sum of the assets from the sum of the liabilities- this is your net worth.

The ultimate goal of most investors is to increase their net worth. The balance sheet is a very useful tool to identify strengths and weaknesses in your current finances, as well as to determine your goals for the future. Someone with a disproportionate amount of liabilities might set a goal to eliminate this debt. On the other hand, someone with a positive net worth (more assets than liabilities) might plan to save and invest towards retirement, college, or another goal.

Cash Flow Statement

After analyzing your balance sheet and determining your goals, you need to decide how to fund these goals. A well formulated plan is one not only with realistic goals, but also a sensible means of achieving them. That is, having goals is good, but you must be able to pay for them. Using a cash flow statement will enable you to determine how to pay for your goals.

A cash flow statement is a detailed look at all money coming in and going out over a period of time. It illustrates what you earn (revenue) and what you spend (expenses). Your net cash flow is expressed as: Net Cash Flow = Revenue – Expenses. That is, what you earn minus what you spend.

Some examples of revenue include: salary and wages, self-employment earnings, dividends, interest, and other investment income. Expenses may include: mortgage payments, rent payments, insurance costs, utilities, clothing, food, child care, alimony or child support, travel, entertainment, loan payments, education costs, taxes, charitable contributions, gifts, and gasoline. After listing all you earn and everything you spend, you can calculate your net cash flow by simply subtracting expenses from revenue.

By analyzing your cash flow statement, you can more easily cut expenses and identify excess net cash to use towards your goals. Generally, someone with negative net cash flow should first concentrate on cutting expenses to achieve positive cash flow before attempting to save or invest towards any future goals. Once positive net cash flow is achieved, excess money can be used directly for funding and achieving your goals.

In developing a balance sheet and a cash flow statement, it is important to remember one general rule-of-thumb- Quality in – Quality out. The more detail and care you put into your planning documents, the more effective they will be. A plan is only as good as the effort you put forth when creating it.

About The Author

Jonathan Citrin provides financial goal planning services. Go to http://articles.citringroup.com for hundreds of educational articles about Personal Finance, Retirement Planning, Investment Planning, and College Savings.

article-notification@citringroup.com

Money Management Tips - Create Tax Savings And Transfer Wealth To Your Child With A Roth IRA

2005-05-28T11:42:00.000-07:00

Create Tax Savings And Transfer Wealth To Your Child With A Roth IRA by: Richard A. Chapo

Parents must give serious thought to protecting their family through estate tax planning. While life insurance and trusts should be a part of every plan, Roth IRAs can be a simple tool for passing money to your child on a tax-free basis.

Roth IRA

First, we need a quick summary of the Roth IRA. A Roth IRA is an after-tax retirement vehicle that produces huge tax savings because all tax distributions are tax-free. That statement can a bit confusing, so lets break it down. The downside of a Roth IRA is the fact that contributions are not tax deductible as with traditional IRAs or 401(k)s. The upside of a Roth IRA, however, is that all distributions are tax-free once the person reaches the age of 59½. So how can you use a Roth IRA to pass money to your child?

Opening A Roth IRA For Your Child

One of the biggest keys to retirement planning is “time”. The more years you spend saving money for retirement, the more you should have when that blessed day arrives. Imagine if you had started saving for retirement when you were 16. How much bigger would your retirement nest egg be? What if you purchased Microsoft stock in 1990 and watched it split eight times? Okay, that was painful example if you missed that opportunity. Nonetheless, why not do for your child what you didn’t do for yourself?

The fundamental goal of estate planning is to pass as much of your estate as possible to your family on a tax-free basis. You can transfer relatively small amounts of money to your child now. If you have a 16 year-old child with a Roth IRA, you can contribute $4,000 in 2005. That $4,000 is going to grow tax-free for 43 years and be worth quite a bit. A ten percent return would result in the account growing to roughly $200,000 and the full amount would be distributed tax-free.
There are other practical advantages to opening a Roth IRA for your child.

As a parent, it is vital that you teach your child the value of money. Opening a Roth IRA gives you the opportunity to sit down and teach your child the value of saving and investing, instead of yelling at them to clean their room. While a parental lecture on the need to save money would typically meet with glassy eyes and yawns, your child’s attitude will undoubtedly change when you are talking about their money.

Work and Maturity Issues

Before you rush out to open a Roth IRA for your child, you must determine if your child is eligible to open an account. To open an account, your son or daughter must be working at least part time for an employer that reports their wages to the IRS. Hiring your child to take out the trash each week is not going to cut it, nor will this strategy work for your 5 year-old. Many teenagers, however, have summer jobs that should suffice for IRS consideration. To avoid any trouble, you should consult with your tax advisor.

A more sublime issue concerns the maturity level of your child. Keep in mind that the Roth IRA will be opened in their name. Your son or daughter will have the legal right to do what they will with the account. It is strongly suggested that you clearly explain the consequences of taking money out of the account [taxes, penalties, being cut out of the will, forced to eat healthy food, grounded for life, etc.] but the decision lies with them. As difficult as it is, try to be objective in evaluating how you child will react to knowing the money is sitting in an account. If you have doubts, you should probably investigate other tax saving strategies.

Opening a Roth IRA for your child can be a very effective means of transferring wealth to your child and teaching important life lessons. If your child exercises restraint, your relatively small contribution to their Roth IRA can grow into a sizeable tax-free nest egg.

About The Author

Richard Chapo is CEO of http://www.businesstaxrecovery.com - Obtaining tax refunds for small businesses by finding overlooked tax deductions and credits through a free tax return review. He can be reached at richard@businesstaxrecovery.com.

Identity Theft And The Internet

2005-04-14T09:49:00.000-07:00

Identity Theft And The Internet by: James H. Dimmitt

LexisNexis, a provider of personal and financial data, recently reported that the personal information of as many as 310,000 people nationwide may have been stolen. This figure is nearly 10 times higher than the original figure disclosed last month by the company.

ChoicePoint Inc., another consumer data collection service, stated 145,000 people in their database were possibly exposed to identity thieves earlier this year. At DSW Shoe Warehouse, officials acknowledged stolen credit information at 103 of its 175 stores nationwide. Hackers have also targeted databases at California State University as well as the University of California, San Diego.

Many consumers now fear that using the internet puts them at a higher risk of identity theft. However, surveys have shown that only 10 percent of known identity theft cases have resulted from online fraud. Dumpster diving along with phone scams account for far more ID theft than the internet.

In fact you can use the internet to help protect yourself from this crime in three unique ways:

1) View your banking and credit accounts online. Almost all banks and credit card companies have secure web sites that allow you to view your statements and activity safely online. Secure sites are those that begin with https// or display a padlock icon on your computer screen.

NEVER access a financial site through a link embedded in an e-mail message. E-mails with links asking you to verify or re-register your personal information are a sure sign of “phishing”, a scam to collect your name and other identifying information to steal your identity.

Instead, type the bank or creditor’s website address into your browser. Check your accounts every two weeks. Verify that the credits and debits shown on the statements are valid. Report any suspicious activity immediately to your bank or creditor.

2) Monitor your credit report. The main reason for stealing your identity is to open new credit accounts to purchase good and services using your name and stolen identity. Chances are that you won’t know you’re an ID theft victim until you’re denied credit or you receive bills for accounts you never opened.

If an ID thief has opened accounts in your name, they are most likely to appear on your credit report. There are three major credit reporting agencies; Equifax, TransUnion, and Experian.

New legislation allows you to obtain your credit report annually from all three of these agencies for free. This new program is being phased in gradually across the U.S.. Check www.annualcreditreport.com to see when your state becomes active in this program.

3) Use credit monitoring services. A variety of paid services are available that will monitor your credit reports for activity and alert you to any changes. As with any product or service, make sure you understand what you're getting before you buy. You can enjoy a free 30-day trial of CreditCheck® monitoring service and get a free copy of your Experian credit report by visiting http://www.yourfreecreditreportnow.com. This monitoring service checks your credit report daily to notify you about fraudulent activity, new inquiries, new accounts, late payments, and more so you can spot possible signs of identity theft. After the free 30-day trial, you will be billed $9.95 monthly unless you cancel the service.

If you become a victim of ID theft, your opportunity for loans, jobs, or even housing could be affected. Taking immediate action after being victimized can minimize the damage.

Here are some additional helpful identity theft related sites: www.consumer.gov/idtheft/ (US government ID theft website) www.privacyrights.org/identity.htm (ID theft resources) www.identitytheft.org/ (ID theft prevention and survival)

About The Author

© 2005, www.yourfreecreditreportnow.com
Author: James H. Dimmitt

James is editor of "TO YOUR CREDIT", a free weekly newsletter with tips to help you manage your personal finances. Subscribe today and receive his ebook “IDENTITY THEFT- How To Avoid Becoming the Next Victim!” and other free bonuses by visiting http://www.yourfreecreditreportnow.com.

5 Tips On How To Save Money At The Gas Pump

2005-04-14T09:41:00.000-07:00

5 Tips On How To Save Money At The Gas Pump by: Robert Smith

1. Keep an eye on your gas consumption

The more aware you are of the amount of fuel that you use the more you can do to try to reduce your gas costs.

If you notice that your gas efficiency is decreasing it could be an indicating factor that your car needs servicing.

Make weekly comparisons with your fuel log that you keep in you car to see how much your gas consumption is going up and your mileage per gallon is going down.
If you are finding that you are constantly seeing less and less performance from your car and spending more for gas at the fuel pump then you'll know that you need to take action so that you can start seeing a savings in your gas economy rather than a constant deficit.

2. Buy gas from a busy station

Try to buy your gas from a gas station that is consistently busy and therefore has its underground tanks filled on a regular basis.

Gas stations that are slow will have gas that has been sitting in underground tanks for longer periods of time, leading to gas contamination.

This contamination can mean that the gas you are purchasing is less powerful than fresh gas and will decrease your fuel economy.

Try to time your visits to busier gas stations at those busy times but make sure that you're not in a rush to get anywhere.

If you're late for an appointment you may find yourself giving up in frustration if you have to wait to purchase your gas and then find yourself moving over to a gas station that has a higher gas cost for the day.

3. Turn the nozzle

When you have finished filling up your gas tank try turning the nozzle of the hose a full 180 degrees.

This will drain a bit more gas into your tank; in some cases up to an entire half cup that would otherwise be a bonus to the next gas customer.

Once you get into the habit of turning the hose you'll find yourself doing it without thinking. That extra half cup that you get each time that you fill your gas tank can add up to a lot of extra gas at the end of the year that you never have known about.

4. High octane gas

For most cars these days, buying higher octane gas is a waste of your money. Regular unleaded has approximately 87 octane already and is fine for your vehicle.

By avoiding buying high octane gas you'll be saving a large amount of money over a period of time.

High octane gas is always more expensive at the gas pumps so the next time that you feel guilty for filling up your SUV with regular gas you can be assured that no harm will come to your vehicle.

Octane is simply a measurement of how difficult it is to ignite the gas in your car and has nothing to do with the quality of the gas. If you are experiencing engine pings, rattles, or knocks you can switch to high octane gas.

However, you shouldn't be experiencing any of those knocks and rattles if you are keeping your vehicle maintained and making sure that you don't miss those scheduled maintenance checkups.
If you are driving a new model car you definitely shouldn't be hearing any pings or rattles and if you are you should take your vehicle to a mechanic.

5. Avoid topping off

Try to avoid topping off at the gas pumps. When you purchase just a bit of gas at the gas station the pump doesn't have enough time to really activate, resulting in short bursts of fuel that may short change you from the amount of gas that you are purchasing.

The best time to replenish your gas tank is when you have half a tank or less left in your vehicle, or when you find a gas price that you just can't afford to miss.

About The Author
Robert Smith
Find more articles and tips about easy money saving by visiting http://www.ez-money-saving.com

Payday Loan Companies

2005-04-11T01:47:00.000-07:00

Payday Loan Companies by: Jakob Jelling

At one point or another everyone of has encountered this situation, not having enough money to make it to our next payday. A common solution to this problem that seems to becoming more popular is a payday loan. While a payday loan may be fast and convenient, it may not be the best solution.

A payday loan company offers to loan you money based upon repaying it and a service fee on your next payday. This often seems like a perfect solution until you look closer.

There is a simple reason as to why we are seeing more payday loan companies opening up and advertising so much. Payday loans are very profitable for those doing the lending due to the high interest rates and often end up being almost addictive for those borrowing the money. A recent national survey of payday loan companies found that only 37% of companies accurately reflected their interest rate. At most places the interest rates varied from 390% to 851% annually with the average being 474%.

Once you get into a payday loan agreement it is often hard to get out of it due to the amount that must be repaid at once. In fact 77% of people who borrow money from a payday loan company can not afford to repay it in full so they roll the loan. When your loan is rolled a portion of the total amount owed is paid and the remaining amount of the old balance, including the old service fees, plus the new service fees and interest rates are added on to a new loan. Obviously it is very difficult to pay down the loan when so much more is being added on to what is owed.

If you can not afford to repay any of your loan then you may receive an even bigger surprise than the interest rates. It is common practice for you to sign a wage agreement that allows the payday loan company to garnish as much of your pay as they wish without having to go to court. Another option available to most companies is charging you with fraud. In many areas it is fraud to write a check if you do not have the money in your account to cover the check and you may receive court order fines or even some jail time.

If you find yourself in a situation where you need to borrow from a payday loan company then perhaps it is time to pause and reflect upon how you got to this point. Sometimes situations arise that you have no power over but more often it is a fault of bad financial planning. Now would be a good time to review your monthly budget and try to see what went wrong and what you can do to prevent the problem from occurring again.

Depending upon your situation, there may be better options for you than a payday loan. For example, if you have a little time to wait, you may be able to use funds in your 401K plan. Funds withdrawn from your 401K you are only taxed at 10% and if you make arrangements with your payroll department to repay the withdrawal from your 401K then it is not taxable at all.

Before getting a payday loan make sure you have examined all of your options. Do you really need this loan? Is there a mistake on your credit report preventing you from getting a normal loan or credit card? Can you change your monthly budget to avoid the financial problem you are experiencing? Payday loans may seem like a convenient option but a steep price comes with that convenience.

About The Author

Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.

What Does Extending Your Taxes Mean to You?

2005-04-11T01:35:00.000-07:00

What Does Extending Your Taxes Mean to You? by: Tiffany J. Morisue
Introduction

As the tax filing deadline is quickly approaching, many procrastinators and those who legitimately are just not ready to file their returns become stressed out and frantic, trying to meet what may virtually be an impossible deadline. Many would rather rush to get their returns prepared than file an extension. Common concerns include, but are not limited to, being flagged as a late filer, being assessed penalties, or being more likely to be audited. If you are one of these individuals, I hope that I can put your mind at ease and inform you of what it really means to extend your tax return and the benefits of doing so.

A few notes before getting started:

This article is written assuming a tax year that is the same as the calendar year, which is the case for most individual taxpayers.

If a tax deadline noted falls on a holiday or weekend, the deadline is actually the next business day.

The focus of this article is on the filing of federal individual extensions except where noted otherwise.

“Tax professional” as opposed to “tax preparer” is referred to in this article. My definition of “tax professional” is someone who has extensive knowledge, education, and experience in taxation and can provide tax consultation and planning services in addition to preparing returns. Two commonly recognized credentials held by tax professionals include CPA (Certified Public Accountant) and EA (Enrolled Agent). CPAs and EAs are by no means the only tax professionals out there and not all CPAs do tax-related work.

With those preliminary notes out of the way, I will now discuss what you should know about extensions.

What is an extension?

First and foremost, it is important to know that an extension is an extension of time to file an income tax return, not an extension of time to pay the tax due. Unfortunately, many taxpayers miss the part about it not being an extension of time to pay, perhaps due to wishful thinking.

There are two federal individual income tax extensions that can be filed. The first extension, which is “automatic,” is due by the April 15th tax deadline and is a four month extension of time to file. Thus, if you file this first “automatic” extension, you will have until August 15th to file your income tax return. Your best estimate of the tax that will be due with the actual return is still due by April 15th.

As for the first extension being “automatic,” that does not mean it just happens – you need to actually file the extension. There are various ways to do so which are convenient and are discussed later. The reason it is referred to as “automatic” is that you do not need to provide an explanation for why you need additional time to file.

The second extension is not “automatic” like the first one. If you cannot complete your returns by the August 15th first extension deadline, you can “apply” for an additional two months. The second extension is considered an “application” because you need to provide a good reason why you need the additional two months to file. You need to demonstrate that you made a reasonable effort to get your returns completed within the first four month extension period or that you had extenuating circumstances. If the reason is merely for your convenience, your request can be denied. If your application is denied, your return will be due immediately or within a 10-day grace period. If you did not timely file a first extension, a second extension will only be approved in cases of undue hardship.

Between the two extensions, that gives you up to six months additional time to file beyond the April 15th tax filing deadline. Six months is generally the maximum total time a return can be extended by law.

Why should I extend?

The Internal Revenue Service prefers that you file a complete and accurate return. A return you have to rush through, do not have all information for, or make estimates of figures for is unlikely to be complete and accurate. Thus, it is better to file an extension if you are approaching April 15th and you do not have all information needed or otherwise cannot file complete and accurate returns.

If you use a tax professional and you are getting your tax information to him or her just a few weeks or so before April 15th, do not be surprised if he or she indicates an extension will need to be filed. You are more likely to have a complete and accurate return if your tax professional is not trying to rush to make the April 15th deadline.

A few more comments for those of you who use tax professionals. If it is approaching the tax deadline and you have not yet contacted your tax professional, do not be surprised if he or she is unable to speak with you when you call his or her office. Also, do not assume that just because you used his or her services last year they will file an extension for you without you specifically requesting it. Tax professionals are very busy dealing with many clients and working long hours all of tax season and they get even busier as April 15th approaches. Moving forward, you should consider getting in contact with your tax professional’s office well in advance of the tax deadline to determine what he or she needs to file an extension, if necessary, and prepare your taxes.

In addition to having a complete and accurate return, there are certain planning opportunities that can be taken advantage of if you or your tax professional is not forced to rush through your return. One example is funding certain retirement plans such as SEPs and Keogh Plans – these can be funded for the prior year through the extended deadline of the return that falls in the current year. Some plans, such as a SEP, can actually be established for the prior year up through the extended due date of the tax return. It is important to note that traditional and Roth IRAs need to be funded by April 15th to qualify as contributions for the prior year. For more information on such planning opportunities for the year just past as well as the current and future years, you should consult with your tax professional.

What are the common concerns over extending?

As referenced earlier, many individuals are adverse to even the idea of extending due to concerns such as being “flagged” as a late filer, being assessed penalties, or being more likely to be audited. Filing an extension in and of itself is not going to raise any “red flags” or cause problems as long as your extension is timely filed and the tax due is paid by April 15th. As for being audited, you are more likely to be audited if your return is incomplete, includes estimated figures, or is inaccurate.

Another concern individuals have is that it will cost them more to file an extension. The IRS does not charge for filing an extension. Your tax professional may charge you for doing so, but the fees charged most likely will be far outweighed by the benefits of the return being complete and accurate. Incomplete and/or inaccurate returns can result in you being contacted by the IRS and generally require that an amended return be filed. Your tax professional will likely charge you for preparing an amended return. If additional tax is due, penalties and interest may be assessed. A complete and accurate return is much less likely to result in any correspondence from the IRS. Additionally, it includes an accurate tax liability, which means lower taxes or reduced penalties and interest as related to an understated tax liability. Like with many things in life, it is better to do something right the first time as there is more time, effort, and expense associated with having !

to correct something later.

Yet another reason that some individuals do not want to extend is because they are in the process of buying a new home or refinancing and their lender is requesting a copy of their tax return. Many lenders will accept a copy of an extension along with copies of documents substantiating income (W-2s, 1099s, K-1s, etc.) and copies of the prior year tax returns.

What information is needed to file an extension?

You will need your general taxpayer information, which includes your name, name of your spouse if married and filing a joint extension, your social security number, your spouse’s social security number (if applicable), and your complete address. To avoid potential delays in the processing of your extension, special attention is required if any of the following apply: your name has changed due to marriage, divorce, etc.; your address has changed since you last filed a tax return; or you want to have correspondence related to your extension sent to your tax professional or otherwise. You should refer to the instructions for the extension form to properly address any of these items.

There is not much other information needed. The items needed for the tax year that the extension is for are an estimate of your total tax liability and the total tax paid. The estimate of the total tax liability is the more difficult of the two. You need to come up with your best estimate of what the tax liability is. The IRS instructions for the completion of Form 4868, “Application for Automatic Extension of Time to File U.S. Individual Income Tax Return” clearly state: “Make your estimate as accurate as you can with the information you have. If we later find that the estimate was not reasonable, the extension will be null and void.” If that were to be the case, your return would be considered late. A late filed return is subject to late filing and late payment penalties and interest.

How do I file an extension and, if applicable, pay the (estimated) tax due?

Either you or your tax professional can prepare and file your extension. The methods for filing it include e-file by phone, e-file by computer, or filing a completed paper Form 4868. Regardless of who is going to prepare and file your extension, the information discussed in the previous section will be needed. Thus, if you use a tax professional, you need to get in touch with him or her in advance of the tax deadline to ensure that he or she has that information.

E-file by phone is a very convenient option if you are going to file your own extension. The Form 4868 and its instructions can be easily downloaded from www.irs.gov. After reviewing the instructions for the form, use Form 4868 as a worksheet and then call the toll free number in the instructions. You will be prompted for the information from the completed form and given a confirmation number at the conclusion of the call. In order to e-file by phone, you must have filed a federal return for the prior tax year.

As for paying the (estimated) amount due, you can do so via electronic funds withdrawal (EFT, from a checking or savings account), credit card, or check. The EFT option can be used if you e-file by phone or e-file by computer. You will need to enter additional information when filing the extension to include AGI (Adjusted Gross Income) from your prior year tax return and the routing and account numbers for your bank account. Payment by credit card can be done via one of several service providers, each of which charge a convenience fee based on the amount of the tax payment being made. Payment by check can be made if you e-file by phone, e-file by computer, or file a paper extension form. More detail about these payment options is included in the instructions for Form 4868.

It should be noted that if you are a taxpayer that makes or should be making estimated tax payments, you should compute and timely make those payments for the current year even if you filed an extension. The federal income tax system is a “pay as you go” system and if you are self-employed or otherwise have income that results in a tax liability that is not paid via withholding, you may be required to make estimated tax payments throughout the year. If you are not sure if this applies to you, it is recommended that you research this topic or consult with a tax professional.

For further information about filing a second extension, please refer to the instructions for Form 2688, “Application for Additional Extension of Time to File U.S. Individual Income Tax Return” which can be easily downloaded from the IRS website as www.irs.gov.

What about state, local, and other income tax returns?

Some states will accept the federal extension while others require that you file an extension document with them. Ohio accepts the federal extension and does not require that you send them a copy of it, though you do need to send in the tax due, if applicable, by the April 15th deadline. If you live in a state with municipal or other local income taxes, you may need to file an extension with the locality (or localities) that you have a filing responsibility with. Further discussion about state and municipal filing requirements are beyond the scope of this article as they vary from state to state. Check with the respective department(s) of taxation or your tax professional for more detail. Like with the federal extension, you generally need to pay any state or local tax due at the time the extension is filed.

In Conclusion

Whether you prepare your own taxes or work with a tax professional, I hope that you have a better understanding of what an extension is, when it should be considered, and what is involved in completing and filing one. If it is close to the April 15th filing deadline and you have not finished or even started preparing your returns, you should consider filing an extension. This will allow additional time to ensure that the returns are complete and accurate and, in turn, should reduce the stress associated with filing your taxes.

About The Author

By Tiffany J. Morisue, CPA, 04/03/05 e-mail: tiffany@rrohio.com

Morisue & Associates, LLC
dba ABC Solutions
3964 Brown Park Drive, Suite A
Hilliard, Ohio 43026-1163
Ph. (614) 850-9440
Fax (614) 850-8770
www.abcsolutionsohio.com

Emergency Savings Accounts

2005-04-11T01:28:00.000-07:00

Emergency Savings Accounts by: John Cook

Unexpected expenses sneak up on the best of us. Paying these unexpected expenses looks impossible when you are in debt and barely making the payments from month to month. If you're like most, you have to reach for the credit card and then find yourself deeper in debt and farther behind.

What do you do about this?

The answer for paying unexpected expenses is an emergency savings account.

An emergency savings account is a sum of money set aside in an account that is only used for paying any unexpected expenses.

Unexpected expenses come in many varieties and range from a roof leak to a job layoff.

There is no hard and fast rule to determine how much you need in an emergency savings account, only rules of thumb.

If you are still paying off your unsecured debts it is generally accepted that $1,000 is an appropriate amount until you have become "bad debt" free.

If you have nothing more than a mortgage payment or perhaps are completely debt free the common recommendation is that you have 3 to 6 months living expenses put aside. Now this is where it gets tricky. Everyone will have different requirements for 3 to 6 months living expenses. The general rule of thumb is to have at least $10,000 available.

This is just a rule of thumb and you will have to do some thinking for yourself here. If your mortgage payment is $2,000 each month, then $10,000 surely will not cut it. On the other hand, if you are debt free, $10,000 may be a nice cushion. Once you are living on a monthly budget it will be easy to determine how much you will need for your emergency fund. Make sure that you do not skimp on this account.

Your emergency savings needs to be readily available; money market accounts are usually the best choice.

Unfortunately money market accounts and other short-term savings vehicles are not big moneymakers, but you can access your money quickly and do not have the threat that it will decrease in value.

The reason that I like money market funds is that they will make a return comparative to other accessible investments, most have check writing capabilities, and your investment is safe from downturns in the stock market.

There are other options such as interest bearing checking accounts, savings accounts and possibly other savings vehicles in various banks, investment institutions and credit unions. Choose the investment that is available to you and fits the criteria.

One thing to be aware of when choosing a money market or any investment option is the expenses. Expenses will vary widely among investment firms. Ideally you want to find an account that lets you invest in the money market with no up front or back end fees and minimal yearly expenses. Since a money market does not appreciate quickly it would take a long time to make up for high expenses.

An up front fee is a percentage of your money that you have to pay when you initially invest it. For example if you invest $1,000 and the fee is 5%, they will take $50.00 out of your account and you will only end up with $950 invested.

With a back end fee they take a percentage when you withdraw your money.

All investment firms will charge an annual expense on your invested money. Just pay attention and choose one that has a low expense. Be careful, since some will lure you in with a low initial expense that will be raised after a specified number of months. Look at the track record going back a few years to make sure that the expense ratio has stayed consistent.

Make sure that you have an emergency savings account so that paying unexpected expenses does not chase you back in debt; it is a vital step in living without debt.

About The Author
John Cook is the author of FinanceForFamilies.com, a website designed to assist families in making smart financial decisions. The burden of seemingly insurmountable debt is destroying too many families. You can read more at http://www.financeforfamilies.com

How To Best Negotiate A House Deal

2005-04-01T12:24:00.000-08:00

How To Best Negotiate A House Deal by: Sameer S Panjwani

Whether it’s selling your home or buying a home, more often than not you’ll come across a stage where you’d have to negotiate. Negotiation is the art of getting what you want at your terms and conditions. Of course, it isn’t that easy and it takes time and patience especially when it comes to real estate dealings.

So how do you negotiate a good deal for yourself and what are the points you can use to negotiate a deal to your favour. Well here below are some points you should consider:

Comparative market analysis of homes in the area. Ask your real estate agent or find out through other sources what other homes in the area are selling for and what they’ve sold for in the past. Having such figures can keep you in good stead during the negotiation process. It can be advantageous to either party. A seller may quote the price of a neighbourhood home to justify for his price or show that he’s selling for less while a buyer can use such facts and figures to justify for a lower price.

Show no emotion. The more desperate you show yourself to be in concluding the deal, the more likely you are going to be taken advantage of in the negotiation process. They say, ‘he who cares least, wins’ and this is most applicable when it comes to buying and selling a home.

Speak of your other options. By speaking of your other options and telling the other party that you have another buyer who’s also negotiating or another home which you’re interested in, there is a good chance you may push the deal to your favour.

Time factor. Deals can usually be closed much faster by offering or insisting on an earlier closing / possession date. As a buyer, offering to close in on the property and completing all the formalities immediately would greatly influence the owner to have some consideration towards bargaining in your favour. As a seller, if you want to close the deal earlier you may negotiate on the price with the condition that the deal is completed immediately.

Including items. If price is a no-go, then perhaps some of the movable items or appliances may be negotiated as to be included along with the price.

All in all, negotiating comes down to both parties being satisfied with the price and the terms and conditions of the deal. Make sure that everything is documented and signed when making the offers, so as to prevent any misunderstandings or chances of either party backing out in the future.

Coming back to negotiating, feel free to be innovative in your negotiations and you may just find yourself with a better deal than you could’ve initially asked for. Best of luck!

About The Author
Sameer S Panjwani is the CEO and Founder of ChoiceOfHomes.com - Real estate listings of homes on sale and rent. Visit http://www.choiceofhomes.com.

First Time Buyer's Guide

2005-04-01T12:18:00.000-08:00

First Time Buyer's Guide by: Terri Hickey

Buying your first home can be a difficult time, especially in these days of high house prices, and low job security. But don't despair, www.mortgagedown.com have prepared a few top tips to make the process as painless as possible for you!

Get an agreement in principle from your favorite mortgage company BEFORE you start house hunting. This helps you establish your price range and makes you a better 'bet' as a buyer in the eyes of any sellers you meet.

Don't just rely on 'realtors' or 'estate agents'. Nowadays, the best place to start a property search is the web. You can also check local papers and even drive around your preferred area looking for private sales boards.

Make a checklist of teh essentials you MUST have in your new home. If you need a garage, saya so. If outside space is essential, don't go see and house without it.

Never go alone - take someone with you even if just a friend. Alone, you might miss something.

Never offer after just one viewing. Two visits minimum is essential, and they should be at different times of the day. Some areas that seem safe during the day turn dodgy at night!

Ignore the decoration. Mauve wallpaper can always be taken down! The important thing is space, and the layout of the rooms. Try to see this, not the color scheme used by the current occupier.

ALWAYS get a survey. You won't be economising if you don't. In fact, it could be the most expensive 'money saving' you ever make! A good surveyor will spot the things you can't, like damp, sloppy roofwork etc.

Ultimately, the old www.mortgagedown.com cliche about 'the place feels right' is true. If you walk in and you don't get that 'wow' feeling, you probably won't enjoy living there.

Remember, as prices are now falling in most parts of the world, it's a buyer's market and you can take your time. You can also put in lowball offers at times like these, and you might be surprised how little negotiation upwards is needed to secure a sale! Good luck with it, and happy house hunting!

About The Author
Terri Hickey consults on mortgages and writes for website www.mortgagedown.com the free tips and advice site for first time house buyers.

Credit Card Fraud Is Usually Preventable

2005-04-01T12:10:00.000-08:00

Credit Card Fraud Is Usually Preventable by: Jakob Jelling

One of the worst things that can happen to you is credit card fraud. This is even worse if you don't pay very much attention to your credit reports, since you may not find out about the fraud until there are very serious problems to deal with. Even if it's possible to get out of paying for most of the fraudulent purchases that are made on your card, you will often have to pay for some of them - and you will have to go through the hassle of dealing with a stolen credit card if you're not careful.

One of the major places where credit card fraud happens now is online. Therefore, you should be very careful about the companies that you give your credit card number to. Ideally, you should figure out a way to avoid giving out your credit card number at all. There are several payment services online that will help you make your online payments without giving out your credit card number to unauthorized parties.

You should also make sure that if you are entering your credit card number that it is being entered into the right field on the right page, and that it is being sent over a secure connection. If the connection is not secure, then anybody online might be able to find the information that you sent.

Another place where credit card fraud is common is over the phone. For this reason, you should avoid giving your credit card number to people or companies over the phone if at all possible.
You should also listen to your instincts regarding the phone and internet. If you have any doubts about the safety of giving your credit card number, then you should probably not do so. After all, when it comes to things like fraud, you're much better off safe than sorry.

If you do find that there are charges on your credit card that you don't remember making, then you might be a victim of credit card fraud. Luckily, there are a lot of options to people who think that their credit card might be stolen. The first thing you should do if you think that your card or card number has been stolen is to call up your credit card company and immediately cancel the card. This will keep the person who has stolen your card from using it anymore. While you'll still have to deal with what has already been done with your card, you will at least have limited the damage.

To keep yourself from being a victim of credit card fraud, however, the most important thing to do is just to use common sense. If something seems shady, then it probably is, and you shouldn't risk your credit card number if you are unsure of the situation.

About The Author
Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.

How To Decide Between a Travel And Cash Back Credit Card (For Free Airline Tickets)?

2005-03-18T11:15:00.000-08:00

How To Decide Between a Travel And Cash Back Credit Card (For Free Airline Tickets)? by: Nick Lian

Travel or Cash Back Credit Cards?

If you want to use a reward credit card for getting free airline tickets, you have a choice of choosing a dedicated airline credit card, a travel reward credit card or a cash back credit card. A dedicated airline credit credit card has hefty annual fees and may not be worth it if you are not a very frequent traveller or do not spend enough on your credit card. But assuming that you do take a couple of vacations here and there, is it better to choose a no annual fee travel credit card or a cash back credit card? This article examines the factors to consider if you decide not to get a dedicated airline credit card, but instead to choose between either a no annual fee reward or cash back credit card.

Let is assume we now have one reward credit card and one cash back credit card to choose from. The reward credit card pays one point for every dollar you spend on purchases. The cash back credit card pays a 1% rebate. Essentially, they both have identical payout formula of 1%. Let us assume both have no annual fee (very realistic) and both have identical apr. Would there be any difference between the two credit cards? Should we be indifferent? How do we decide which is better?

How much does your typical vacation airline ticket cost?

The most important factor that in this decision is actually the average cost of your airline ticket when you take your vacation. Why? Because most travel reward program (in fact, most frequent flyer program) require that you earn 25,000 miles or points to redeem a roundtrip restricted economy ticket within continental US. You are required to purchase the ticket either through the specific airline directly (in the case of a specific frequent flyer program) or through the reward program's agent. If you have a cash back credit card, 25,000 points will get you a $250 cash rebate (assuming a 1% formula).

But we all know that a domestic economy ticket cost can vary anywhere from about $99.00 to $350.00. If you are flying short haul, you can get a $99.00 ticket from a low cost discount carrier. If you fly from coast to coast, you are likely to have to folk out over $300 for a ticket. If you use get a special deal from expedia or priceline, you may get it cheaper.

Choose a cash back credit card if you airline ticket cost less than $250

Hence, it is very important to know your vacation habits. Where do you tend to go for your vacations? How much does your average airline ticket cost you? If you tend to fly short haul to a nearby place for your vacation and your airline ticket cost about less than $250 (say for example $150), you are better off using cash rebates from a cash back credit card. This is because you only need to spend $15,000 on your credit card to get a $150 cash rebate. Spending $15,000 on a reward credit card only earns you 15,000 points, not enough on most reward program to earn a free domestic economy flight.

Choose a travel credit card if your airline ticket cost more than $250

However, if you fly long distance (New York to LA for example) and your airline ticket tends to cost over $300, then using a reward credit card makes more sense. This is because if you use a cash rebate credit card, you need to earn over $300 in cash rebates (ie spend over $30,000). However, with a regular reward program credit card, you only need to spend $25,000 to earn your 25,000 points.

So if you tend to take vacations that require long haul flights that cost more than $250, use a travel reward card. If your vacation flights cost less than $250, use a cash rebate credit instead. Some reward program only require 22,000 points to redeem a domestic roundtrip flight. In that case, use $220 or 22,000 points as your guide when you are choosing between a travel or cash back credit card.

Click on the links to see a list of cash back and reward credit cards http://www.compare-apply-credit-card-online.com/CashRebateCreditCards.html http://www.compare-apply-credit-card-online.com/RewardProgramCreditCards.html"

About The Author
Nick Lian http://www.compare-apply-credit-card-online.com Credit Card Tips, News and Reviews for those looking for a credit card.

Keep Your Investment Profits

2005-03-18T11:08:00.000-08:00

Keep Your Investment Profits by: Al Thomas

Have you had one of those huge investment winners – a stock that went from $2.00 to $80.00? Or any other numbers you want that gave you a gigantic percent profit?

Did you take the profit or did you watch the equity drop back down to what you paid for it? I hope you sold and kept the money. That’s what it is all about. So many times when I was a broker I have seen customers make large profits and then think they were omniscient about trading and within a short period give back what they had made.

As a brokerage company owner I had seasoned brokers do the sane thing. One of my men made $150,000 in a short time. I called to congratulate his performance and suggested he take a vacation from trading for a while. He said, “No, Al, I know what I am doing”. The very next month he lost $155,000. What happened?

Listen carefully as I am going to tell you one of the great truisms not found in the trading training manuals. If you are doing any trading whether in stocks, mutual funds, real estate, currencies, whatever, this applies. Print this out, frame it and put it up on your office wall.

“Making a lot of money is just as upsetting to your mind as losing a lot of money”.

A big score destabilizes thinking. Many people want to do it again and again so they immediately plunge back into their investments with their winning cash and make bigger bets. It is almost without exception that they become losers and give back their winnings.

For many years I have advocated taking time off after a big profit. It takes time to get your head on straight again. As a former floor trader I would have about 6 or 8 times during the year when I made a good “hit”. Then I would immediately call my travel agent to ask where I could go for a week. I knew I must get away because my investment strategy would be clouded by success.

Too many of the big winners seem to alter their basic trading plan because they now had a large amount with which to trade causing them to deviate from their successful pattern. They then became losers. Because of their success their thinking changed and they were not aware of what had happened. The trader must get away and let his emotions down.

A disturbing event, even a positive one, can alter up your thinking. If you want to keep your investment profits you must keep your emotions under control.

Copyright 2005

About The Author
Al Thomas' best selling book, "If It Doesn't Go Up, Don't Buy It!" has helped thousands of people make money and keep their profits with his simple 2-step method. Read the first chapter at www.mutualfundmagic.com and discover why he's the man that Wall Street does not want you to know.

al@mutualfundmagic.com

Make A Deal With Your Creditors

2005-03-18T11:02:00.000-08:00

Make A Deal With Your Creditors by: Fredric Johnson

Are you unable to pay your bills? Pick up your phone and call your creditors; you will be surprised at the goodwill most creditors and collectors give the persons who bothers to pick up the phone and make an agreement.

You should not loose your night sleep or turn into a nervous wreck because of your inability to pay some bills. In most cases you do not even need help from others to solve the problems, a phone call to the bill collectors is usually enough. Yes, you will feel embarrassed when you call some stranger and tell them that you are unable to pay your debt and you will most likely feel like a beggar. The short moment of embarrassment is however, a low price to get your financial issues straightened.

Here it was you should do. Find your invoice that you are unable to pay, if you have more than one invoice and are unable to pay all of them, choose the invoice with the lowest amount. Find the phone number to the invoice issuer, you will most likely find the phone number at the invoice, and call it. One important notice: you will most likely be transferred between two or more people before you reach someone who can help you. Be prepared to explain your situation more than one time and be prepared to be waiting on hold for a long time. Surprisingly many people give up because of these small, maybe irritating, details. Do not give up; explain, wait, repeat, wait, etc. Accept that this is how it works and don not get frustrated, your mission is too important.

When you finally reach someone who has the authorities to help you, be humble. Explain the person that you have some economical difficulties this month and that you are unable to pay your debt. Note that you will have a much stronger case if you are able to pay some of your invoiced amount immediate. Here are some of the possible outcomes of your conversation:

1. You will not reach any agreement. You most probably fear this outcome. You should not; nothing has changed. Your situation has not been worsening, but you have eliminated one solution.

2. You will make an agreement to pay your invoice later. Most probably, you will have to pay a fee due to the delay.

3. You will make be able to split the invoices into several smaller invoices.

You should know what kind of deal you want before you make your call. However, be prepared to accept a deal that is poorer than your suggestion. Most important do not accept a deal that you are unable to fulfill.

Why does this usually work? There are many reasons, but I will give you three:

1. Your creditors want the money, and they see that they will get the money faster if they cooperate with you.

2. The creditors are humans too, and they have no intentions to make your living hard. Most people do not realize this…

3. You are practicing engagement. You are telling your creditors “I have difficulties now, but I do not ignore you”. Nobody want to be ignored, especially not when it comes to money.

There are still a lot of possible solutions if you do not succeed to make an agreement, but you should always try the simple solutions first. I wish you good luck.

About The Author
Fredric Johnson is a contribution writer for Pluto Loans (http://www.pluto-loans.com), an information site on loans and credits.

How Can I Become Debt Free?

2005-03-10T07:48:00.000-08:00

How Can I Become Debt Free? by: Stuart Simpson

1. You must change. You have to change your spending habits and spend less than you make no matter what. Its good for everyone. Especially if you are in debt. I know it’s hard to do with our current lifestyle of keeping up, but when you are debt free, it’ll be much easier.

2. Cash only. You have to go to a full time cash only basis. What cash you have to spend is all the cash you have. Once its gone, it’s gone. You have to spend correctly. Don’t spend it all before your next payday.

3. Document. You have to document your spending to see what you are buying. This will help you see if you still have a problem and where the money is going. This will allow you to control your spending if you see all of your monthly spending in one place.

4. Attack Debt. Pay off credit card debt first. The highest interest rate must go! Pay them off and then work towards assets that appreciate in value – like your house. Pay it off last.

5. Lower your interest rate. I called the credit card company to tell them I was going to cancel their card as I consolidated and paid off my other cards. To my surprise, they offered to drop the interest lower than all my other cards so I put all those higher rate cards on this lower rate card. They did that just for the asking and now I’m paying less interest and more towards the principal! Go team!

6. Plan. You have to have a plan and may need to create a payment plan. There are tons of software out there to look at and use, but don’t hide behind the software on trying to find a debt free solution. Plan on paper if you have to. Just do it.

7. Stay the course. Don’t waiver. Spending less and paying off bills is a drag, but it will get better soon and you have to stay strong to make your life even better. Keep your goals. Write it down. Check your progress. You can become debt free!

Sometimes debt can become overwhelming and even scary at times. If you spend too much, you must make changes before it gets out of hand. You can get out of this pit of debt and become debt free and have even more buying power.

About The Author
Stuart Simpson is consolidating information to help people become debt free. http://www.debt-consolidation-review.com/articles/

All Inclusive Vacations

2005-03-07T13:32:00.000-08:00

All Inclusive Vacations by: Sandy Baker

Most of the time, when an individual is planning a vacation, they have to consider all aspects of the time they will spend away from home. The lodging, the transportation, the meals and so on are all things that have to be thought of. One way to limit the expense that all of this creates, is to book an all inclusive vacation. While this will not alleviate all of the things an individual has to think about, it will help to reduce the amount of planning that is needed.

All inclusive vacations usually include accommodations, meals, tips, and taxes are included in the package. Sometimes, they can also include attractions, airfare, and transportation as well. To find an all inclusive vacation that fits the needs of an individual, several things should be taken into consideration. All inclusive vacations wrap the cost of all these expenses into one. That is not to say that an individual can not find great deals on these items individually. But, often an all inclusive vacation includes all of this at a discounted rate.

If considering an all inclusive vacation, one should check out the deals that are available. Individuals who are really looking for the best deal should take the time to find out if all inclusive vacations they have found are a better deal. But, in the end, they can find all this information and do so from their home. The Internet is a great tool in planning a vacation, including an all inclusive vacation. Most big attractions have all inclusive vacations planned for them. To find the options available to anyone, it is as simple as finding the right Internet sites. An all inclusive vacation may be just the thing to help make planning a vacation less of a struggle and more of an enjoyment. And, it may just save some money!

So before you make your next travel reservations, visit www.e-travelpromos.com and check out the all inclusive vacation deals from our partners.

About The Author
Sandy Baker is staff writer at http://www.e-travelpromos.com sbaker@e-travelpromos.com.

Steps You Can Take To Protect Your Financial Information And Personal Identity From Fraud

2005-03-07T13:21:00.000-08:00

Steps You Can Take To Protect Your Financial Information And Personal Identity From Fraud by: Jay Fran

Financial fraud and identity fraud are one of the fasted growing forms of fraud. The first line of defense to protecting yourself begins with you. Here are some steps you can take to help you protect and fight against financial and identity fraud.

Review and Protect Your Information - The first line of defense in financial fraud is to periodically check your credit report to ensure all your information is accurate. Remember there are three credit agencies (Equifax, TransUnion, Experian) which all operate independently. Make sure you check your credit report from all three because they may each have different information.

Destroy Credit Card Mail Offers and Old Financial Documents - If you receive direct or pre-approved solicitations in the mail for new credit cards and do not use them make sure you shred or tear them up before throwing them away. In addition, shred all financial papers including cancelled checks, old bank account statements, or any document with your identity.

Watch Out For E-mail or Telephone Fraudsters - Never give your personal or financial information out on the internet or phone unless you initiated the contact. This is especially true with giving out your social security or credit card number. Watch out for e-mails from fraudsters that state they need your account information or credit card number to update your account with your bank or an online company like e-bay. Never give out personal information over e-mail! Many times these e-mails will have links for you to click on that take you to a website that looks authentic. However more times than not, it is a scam to get your personal and financial information.

Social Security Number – Keep your social security number in a safe place with other financial documents. DO NOT carry your social security card in your wallet and remember to shred your old social security statements. It is also recommended to not store your social security number on your computer as hackers may have access to it. Never print your social security number on your checks, credit card or drivers licenses.
Incoming / Outgoing Mail - Pick up incoming mail promptly and do not send outgoing mail in your residential mail box. Make every effort to keep your mail as securely as possible when it leaves your house.

Monthly Bills – If your monthly bills stop arriving, take action quickly. Notify the company right away. Also, review your monthly statements promptly and if you see charges or items on your bills that you do not recognize get them resolved immediately.

Credit Cards / ATMs - Report lost or stolen credit cards and ATM cards immediately. Be sure to carry the 1-800 numbers of your bank and credit card company in your wallet.

Age Matters - If you are over the age of 50 you are more likely to be targeted for financial fraud. Therefore, keep this in the back of your mind as you handle your daily tasks and personal information.

Most analysts forecast financial fraud and identity thief to cause financial loss to hundreds of thousands people in the next five years and beyond. While fraudsters are very slick and you can never be 100% safe the steps above can assist in you significantly deterring yourself and family from being a victim.

Copyright (c) 2004, by Jay Fran This article may be freely distributed as long as the copyright, author's information and the below active live link is published with the article.
http://www.motorcycle-financing-guide.com/

About The Author
Jay Fran is a successful author and publisher at Motorcycle-Financing-Guide.com, a comprehensive resource on bad credit motorcycle loans, motorcycle financing, military motorcycle loans and online motorcycle loans.

http://www.motorcycle-financing-guide.com/

3 Sure Fire Ways To Beat Financial Stress

2005-03-04T10:02:00.000-08:00

3 Sure Fire Ways To Beat Financial Stress by: Robert S. Laura

1) Get CREATIVE

Don’t fall victim to typical or cliché financial goals that you know, from your own experience, you haven’t been able to stay focused on. Switch things up and simply commit to spending 10-15 minutes, one day a week, thinking about ways you can turn regular spending into savings. Choose a specific dollar bill, for example, a five or ten dollar bill, that you will separate and save for a special purpose every time one ends up in your possession. Or if you’re not ready to brown bag it at work, commit to drinking water every day with your lunch. This should save you about $1.50 a day, which, over an entire week should cover the cost of your lunch on Friday.

2) Pinpoint Financial STRESS

Not sure where to focus your financial efforts? Start by finding out where the greatest opportunity is by asking yourself, “What’s the one thing you don’t want anyone to know about your current financial situation?” The answer should concisely pinpoint the financial area of your life that needs your most urgent attention.

3) Sleep on IT!

It’s getting more and more difficult to keep up with Joneses who inevitable continue to raise the perceived standards of a good living. Commit to a dollar amount that you will not spend until you have thought it over for 24 or 48 hours. By avoiding compulsive expenses, you can save hundreds of dollars.

You can learn more about Robert Laura's real life financial solutions and bill organizer at www.financialkarma.com

About The Author

Robert Laura is a money management expert, speaker, author, and creator of the Cash Flow Organizer System R. You can contact him at robertslaura@financialkarma.com or learn more at www.financialkarma.com.

Get Rid Of Debt With Simple Steps

2005-03-02T13:46:00.000-08:00

Get Rid Of Debt With Simple Steps by: Jakob Jelling

Someone who is not in debt appreciates a telephone ringing, because a person without excess debt does not fear creditors. A person without excess debt goes to the mailbox with general malaise, and doesn’t feel the stomach clenching fear when a handful of bills appear. Someone without a lot of debt can enjoy shopping, can handle the unexpected, and sleeps better knowing they have their ducks in a row. Life without debt is difficult to conceive or manage for many people, but a few simple steps can get anyone on their way to being debt free.

The first step towards decreasing debt is to stop creating debt. People who amass a lot of debt often get into a mindset of spending tomorrow’s money, but that only leaves today feeling pinched. Examine spending habits and be aware of what items are necessary for today, and which items are not. Getting out of old debt is easier to manage if a person is not actively creating new debt.

The next step to getting out of debt is to organize all bills and outstanding balances owed. When a person organizes their bills and has a firm grasp on what they owe, they can make better decisions about where their money goes. Also, money spent on late fees, overdraft fees, or over the balance fees is money given away in vain. A person actively trying to get out of debt will do so much more effectively if they are paying their bills on time. To aide in the organization process, a person can buy special folders or create a filing system to keep track and organize bills. A desk calendar marked with bill due dates will help ensure a person committed to getting out of debt doesn’t miss a payment and earn additional fees or accumulated interest.

The third step towards getting out of debt is to increase monthly payments. Paying more than the minimum payment applies more money towards the balance and costs an individual less in interest over the long run. Adding even five additional dollars per payment can reduce the number of payments made of a loan or credit card. Reducing the number of payments made decreases the amount a person pays in interest and fees.

Additional debt management strategies include seeking help from a debt consolidation agency, refinancing, or applying for a loan. When a person has several high interest loans, high interest bills, or higher interest credit cards, they pay more money for the things they bought than those things were actually worth. High interest rates slow down the dent made in the principle owed, and can add years to repayment. Sometimes, one loan can be achieved at a reasonable interest rate, and can be applied to the other debts. This reduces the amount of monthly payments made, and decreases the dollars each month spent vainly on interest.

Getting out of debt can be a life goal, or it can be a goal achieved daily through little steps. Debt can be manageable, but a person must be hands-on about their financial health. A hands-on, educated approach decreases confusion and increases the speed at which debt dwindles and savings increase.

About The Author
Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.

ING DIRECT Savings Account Increased Interest Rate

2005-03-02T13:25:00.000-08:00

Here is an update on the ING DIRECT Savings account by Patrick Ort

Earlier in the Blog I had an article that explained "Why some internet banks can pay higher interest rates on Savings accounts"

The article went on to provide information on the ING DIRECT Savings Account. This is a quick update to the interest rate that ING is now paying. The new rate is for the Orange Savings account is 2.60%.

Savings accounts are FDIC insured meaning the government guarantees your money up to $100,000.00.

You can open an account online is about 5 minutes.Click the underlined text below if you are interested in learning more about opening an ING DIRECT Savings Account. ING DIRECT makes $aving money simple! Open your account online today

Saving Money on Phone Bills

2005-02-16T16:30:00.000-08:00

Saving Money on Phone Bills by Patrick Ort

If you have a cell phone and have a plan that provides you with long distance service you may not need to keep a long distance service on your home phone. You can use the cell phone for all of your long distance calls.

In addition if you have a separate carrier for local and long distance you may want to combine the two. Check your phone bill if you use a separate carrier you will pay some taxes and phone charges twice for each carrier which if combined would save you money.

You may also save money if you use one of the VOIP or Broadband phone services. However, be careful as they all do not work well with the 911 emergency services. Check to see how they supply this service.

Savings On Utility Bills

2005-02-16T16:24:00.000-08:00

Saving On Utility Bills by: Amy Allen Clark

Some of our bills can be eliminated as being “extras”, but utilities is just not one of these. If you are noticing an increase in your utility bills it is time to review what you may/may not be doing to cause this increase. Here are some helpful tips for ways to decrease your utility bills.

Water

Check to make sure none of the faucets in your household are leaking/dripping. A slow dripping faucet can accumulate over two gallons per hour.

When watering the garden, set a schedule and try to water in the early morning hours to help minimize evaporation (between 6am-8am)

Take shorter showers. Did you know that a shower uses approximately 6-10 gallons of water per minute? Think of how much money you could save if you shaved a few minutes off of your shower.

Use your dishwasher and washer only when you have full loads.

Contact your utility company to see if they offer reduced rates at certain times of the day and either timer-delay your washer/dishwasher or wait until that time to do your loads.

Recycle your water from fish tanks and use it to water your plants. Fish emulsion is a good and inexpensive fertilizer. It is high in nitrogen and phosphorous- just think that you will save on fertilizer AND water.

Gas

During the winter use your fireplace- this will heat up the room at a much lower cost.

Lower the temperature on your gas water heater. It is not necessary to have your water heated up to 180 degrees. You will find that by lowering it that you will in turn lower your bills.

Invest in a water heater timer if you have an electric water heater. By turning the heat off during the time it is not in use you will save money on your bill without even making a sacrifice.

Turn your thermostat down just three degrees. By doing so you will save approximately three percent on your heating bills.

Weather-strip your doors and windows along with insulating your attic. This will conserve the heat in your home a lot more.

Close off the rooms that aren’t in use in your home. This will help keep the rooms you do use warmer.

Close vents in the rooms that have one or more in them. If one room is always warmer you can close the vent to force air into the rooms that are cooler

Electricity

When purchasing new appliances always try to get the ones that are energy efficient. You can save hundreds of dollars a year by spending the extra money to get the energy efficient models.
Get in the habit of turning off ALL lights and appliances that are not being used. You'll be surprised at how quickly the energy savings will add up.

When not watching television make sure that you keep it off. This is the number one electricity waster in the world.

The dryer will use less energy if you dry loads of clothing one after another because the dryer will already be hot. What an easy way to save money and get your laundry done more quickly.

Use low-wattage light bulbs or energy efficient fluorescent lighting. Compact fluorescents typically last ten times longer and they use 75% less electricity.

Call your utility company to find out if they have off-peak hours and when they are. Many companies charge less for your electricity at night and more during the day. By doing your laundry and dishes during off-peak hours you could easily save money off of your utility bill.

Phone

Compare the prices of various long distance providers. A great place to look up information on lowering your long distance bill is www.lowermybills.com. On this web site you can compare long-distance companies in your area and also see any hidden fees they might have. I am currently with Opex Communications (offered in our area) and they charge 3.9 cents a minute with only a $2.95 monthly charge if I do less than $20 in long-distance calls. I found out about this company through Lower My Bills and when the larger companies call to offer me long-distance and I share my rate with them they always tell me I am getting a better deal then they can offer me. This is when you know you are a smart consumer!

If you have a cellular phone that offers state-to-state long-distance, use this instead of calling. Always make sure that you can call nationwide, the minutes you have available to you each month, and what hours are free (evenings, weekends) before making calls. I have made this mistake before and it was a costly one when I discovered I had no long-distance. Always be clear about the terms of your plan.

Take advantage of the internet and email instead of calling your friends and family. You can also use great instant messaging programs and still feel like you are having a telephone conversation without the high bill.

About The Author
© 2003-2004 Amy Allen Clark. All rights reserved.
Amy Allen Clark is a stay-at-home mother of a two year old son. She is founder and creator of http://www.momadvice.com. Her web site is geared towards mothers who are seeking advice on staying organized, living on a budget, and for those seeking work-at-home employment. Please visit her site to sign up for her free monthly newsletter filled with more great tips to help simplify your life.

amy@momadvice.com

Tax Records - What You Should Keep And For How Long

2005-02-10T13:53:00.000-08:00

Tax Records - What You Should Keep And For How Long by: Richard A. Chapo

Many taxpayers are confused about how long they should keep tax records. The term "tax records" refers to your tax returns and the documents that support the information in the returns. These documents can include receipts, bank statements, 1099s, etc. If you are one of the unlucky few to be audited, these records will be vital to fending off the IRS.

Tax Returns

To protect yourself from a nasty audit, you should keep all of your tax returns indefinitely. The IRS has been known to lose or misplace tax returns. While conspiracy advocates argue that this is evidence of a nefarious scheme, the simple fact is that the IRS receives millions of returns over a three-month period and lost returns are inevitable. So how do you protect yourself? You keep copies of every single tax return.

A quick word on the IRS e-file program. If you file your returns electronically, make sure you get copies from the company that filed your return. All such entities are required by law to provide you with paper copies.

Records Supporting Tax Returns

You should keep supporting tax records for a period of six years from the date the returns were actually filed. In general the IRS only has three years to audit you from the filing date. For example, if you filed your 2000 tax return on April 15, 2001, the IRS would have to start an audit by April 15, 2004. Keep in mind that if you filed an extension, the IRS will have three years from the date you submitted the return. As is always case with taxes, there are exceptions to this general time period.

If your tax return looks like the great American novel, the running of the three-year audit period may not save you. Failure to report more than 25% of your gross income gives the IRS an additional three years to pursue you. Using the previous example, the IRS would have until April 15, 2007 to audit your 2000 tax return.

Property Records - Get A Filing Cabinet

You may need to get a filing cabinet if you hold property for an extended period of time. For example, assume that you purchased a home in 1980 for $100,000 and made $50,000 in improvements over the years. You need to keep the purchase records, mortgage statements and receipts that relate to the improvements. When you sell the home, you will need the records to determine the tax consequences of the sale, to wit, your basis (original cost plus improvements) and profit. If the IRS decides to take a closer look at the reported profit, you will need to provide your tax records to support your claims. Once you actually sell the property, it is recommended that you keep all of the tax records for an additional six years.

Divorce

Make sure you keep copies of all of your financial documents, tax returns and supporting documents if you get divorced. You should also keep copies of all divorce agreements and court orders that cover property and financial issues. When couples divorce, the tax and credit consequences can be nightmarish. If you don’t keep records, you will have to ask your ex-spouse for them. Get the records now to avoid doubling your misery!

Hopefully, you will never need to show your tax records to the IRS. If you are one of the unlucky few that is audited, your tax records should keep your feet out of the fire.

About The Author
Richard Chapo is CEO of http://www.businesstaxrecovery.com - Obtaining tax refunds for businesses by finding overlooked tax deductions and credits through a free tax return review.

Ben Franklin Didn't Quite Get It Right

2005-02-10T13:04:00.000-08:00

Ben Franklin Didn't Quite Get It Right by: Terry Mitchell

When Ben Franklin said "a penny saved is a penny earned", he didn't quite get it right. Actually, a penny saved is worth more than a penny earned. Do you find this statement shocking? I am about to prove to you that what I'm saying is true.

Most people erroneously believe the best way to strengthen their financial health is to increase their income. On the contrary, saving money by cutting costs will get you there quicker. You see, it's very simple. When your income increases (with some exceptions like the part of it you put into your 401k), that extra money is taxed. On the other hand, any amount you save by cutting costs is not taxed. Therefore, $20 saved by cutting costs is worth more than a $20 increase in income.

The following (although over-simplified) example will illustrate this principle. Let's suppose that Jack and Cindy have identical jobs and incomes. Let's also suppose they shop at the same grocery store and pay about the same amount for groceries each week. Now, Jack gets a $20 per week pay increase and Cindy does not. However, at about that same time, Cindy finds a new grocery store where she is able to save $20 per week on her grocery bill. Assuming nothing else has changed, Cindy is now better off financially than Jack, even though she did not get a raise and he did.

How can this be? It's because Jack has to pay taxes on his $20 raise but Cindy does not have to pay taxes on her $20 grocery discount. Assuming Jack is in the 25% federal tax bracket (and disregarding any possible increase in his state or local taxes), he will be able to put only $15 into his piggy bank each week whereas Cindy will be able to put the whole $20 a week into hers!

Bottom Line: It is more blessed to receive a discount than to receive an equal amount in a pay increase!

About The Author
Terry Mitchell is a software engineer, freelance writer, and trivia buff from Hopewell, VA. He also serves as a political columnist for American Daily and operates his own website - http://www.commenterry.com - on which he posts commentaries on various subjects such as politics, technology, religion, health and well-being, personal finance, and sports. His commentaries offer a unique point of view that is not often found in mainstream media.
terrymitchell@verizon.net

Why some Internet banks can pay higher interest rates on Savings accounts

2005-01-26T13:55:00.000-08:00

Why some Internet banks can pay higher interest rates on Savings accounts by Patrick Ort

Savings accounts are safe place to keep your money. Savings accounts are FDIC insured meaning the government guarantees your money up to $100,000.00. The advantage a savings account has over a Certificate of deposit (CD) is that your money is not tied up for a period of time. You can access it at anytime without paying a penalty.

The problem is that a lot of banks do not pay as high an interest rate on savings accounts as on CD’s. However, some internet banks are a little different.

Typically, Internet banks don't have branches, but when was the last time you were in a bank branch? Instead, they take the money they save from being branchless and pass it on to you in the form of greater value, including better rates, lower fees, and better product selection and services. And you have 24-hour access to your account.

ING DIRECT is one such internet bank. They do business online, over the phone and by mail. Without the overhead and high operational costs of other banks, they can pass those savings onto their customers.

An ING DIRECT Savings account is an FDIC-insured savings account with no fees, required minimums or service charges… no matter how much money you have on deposit. You can open an account online is about 5 minutes.

Click the underlined text below if you are interested in learning more about opening an ING DIRECT Savings Account.

ING DIRECT makes $aving money simple! Open your account online today and start earning 2.35% variable APY. No Fees and No Minimums!

Less than Perfect Credit – You can still get a loan

2005-01-26T13:48:00.000-08:00

Less than Perfect Credit – You can still get a loan by Patrick Ort

Banks won’t loan you money if your credit is bad. Finance companies may, but at sky high rates. Ameriquest gives loans to the people in the middle. Ameriquest loans are easier to qualify for, and their interest rates are competitive.

You may want to consolidate your debt and pay a lower monthly payment. You may need to fix your house or remodel to increase its value. You may need extra money for a medical emergency, or to pay for a college education.

Whatever you need is Ameriquest may be your answer. Get a Free Loan assessment at No cost and NO obligation. To learn more about an Ameriquest loan click the underlined text below.

Lower your monthly payments. Refinance Loans without perfect credit

Success Unveiled

2005-01-24T17:17:00.000-08:00

Success Unveiled by: Laurie Hayes

How do you define success?

According to the Collins dictionary, success is defined as the achievement of something attempted; the attainment of fame, fortune and position.

I believe this definition requires expansion success also means being a responsible human being, caring for our planet, feeling good about ourselves, making others feel appreciated and valued, providing and caring for others, and sustaining genuine lasting relationships.

To have a 40-room mansion, four luxury cars and your own jet plane does not qualify as success if you have no one to share it with or you feel empty inside.

To be a billionaire and die alone because you alienated yourself or disadvantaged others to achieve your wealth is not success.

Many think that possessions and recognition define success and in order to gain these, they must work harder and longer, sacrifice relationships, values and health.

Some believe success is unachievable because they're not sufficiently educated, don't have enough time, or are not associated to the "right" people.

Success is relative.

If you are a middle-income earner, feel good about yourself, enjoy life and make every day count, you are a success!

If you have taken a vow of poverty, and have dedicated your life to serving others, you are a success!

If you have touched the life of another in a positive, influential way, you are a success!

To achieve material wealth, status and fame are admirable pursuits as are learning a new skill, earning a diploma, building your own business and so on.

We all deserve the best life has to offer, so set goals, believe in yourself, take action and make your dreams a reality!

Never give up!

Material success is wonderful and well deserved, but always remember that true success is about how you feel inside.

You don't have to have a certain level of education, loads of spare time, or be associated to a certain group of people to be successful.

If you are happy, excited and optimistic about your life, you are already successful. If you have financial freedom and all of the comforts and gifts life has to offer, that is just icing on the cake.

How you feel inside determines whether or not you are a success. Focus on yourself and your thoughts first. If you are confident, grateful for what you do have, and excited about the endless possibilities available to you, you are a success!

Enjoy life and live it to the fullest!

About The Author
Laurie Hayes is a professional Life Strategy Coach who teaches others how to recognize and seize opportunities presented in every day life. She has the ability to reveal the lesson to be learned in every situation and inspires others to seek out the best life has to offer. To learn more about life coaching and to secure a copy of her free e-book, "10 Guidelines for Attraction," visit http://www.wheretheheartis-lifecoaching.com. All content herein is copyrighted and must be used in its original format with author bio and website attached.

Comments: Living within your means does not mean you must be unhappy or that you should consider yourself a failure. It also does not mean you shouldn't try to do better. Be happy and work with what you have. Enjoy each day.

Create Tax Savings And Transfer Wealth To Your Child With A Roth IRA

2005-01-24T17:07:00.000-08:00

Create Tax Savings And Transfer Wealth To Your Child With A Roth IRA by: Richard A. Chapo

Parents must give serious thought to protecting their family through estate tax planning. While life insurance and trusts should be a part of every plan, Roth IRAs can be a simple tool for passing money to your child on a tax-free basis.

Roth IRA

First, we need a quick summary of the Roth IRA. A Roth IRA is an after-tax retirement vehicle that produces huge tax savings because all tax distributions are tax-free. That statement can a bit confusing, so lets break it down. The downside of a Roth IRA is the fact that contributions are not tax deductible as with traditional IRAs or 401(k)s. The upside of a Roth IRA, however, is that all distributions are tax-free once the person reaches the age of 59½. So how can you use a Roth IRA to pass money to your child?

Opening A Roth IRA For Your Child

One of the biggest keys to retirement planning is “time”. The more years you spend saving money for retirement, the more you should have when that blessed day arrives. Imagine if you had started saving for retirement when you were 16. How much bigger would your retirement nest egg be? What if you purchased Microsoft stock in 1990 and watched it split eight times? Okay, that was painful example if you missed that opportunity. Nonetheless, why not do for your child what you didn’t do for yourself?

The fundamental goal of estate planning is to pass as much of your estate as possible to your family on a tax-free basis. You can transfer relatively small amounts of money to your child now. If you have a 16 year-old child with a Roth IRA, you can contribute $4,000 in 2005. That $4,000 is going to grow tax-free for 43 years and be worth quite a bit. A ten percent return would result in the account growing to roughly $200,000 and the full amount would be distributed tax-free. There are other practical advantages to opening a Roth IRA for your child.

As a parent, it is vital that you teach your child the value of money. Opening a Roth IRA gives you the opportunity to sit down and teach your child the value of saving and investing, instead of yelling at them to clean their room. While a parental lecture on the need to save money would typically meet with glassy eyes and yawns, your child’s attitude will undoubtedly change when you are talking about their money.

Work and Maturity Issues

Before you rush out to open a Roth IRA for your child, you must determine if your child is eligible to open an account. To open an account, your son or daughter must be working at least part time for an employer that reports their wages to the IRS. Hiring your child to take out the trash each week is not going to cut it, nor will this strategy work for your 5 year-old. Many teenagers, however, have summer jobs that should suffice for IRS consideration. To avoid any trouble, you should consult with your tax advisor.

A more sublime issue concerns the maturity level of your child. Keep in mind that the Roth IRA will be opened in their name. Your son or daughter will have the legal right to do what they will with the account. It is strongly suggested that you clearly explain the consequences of taking money out of the account [taxes, penalties, being cut out of the will, forced to eat healthy food, grounded for life, etc.] but the decision lies with them. As difficult as it is, try to be objective in evaluating how you child will react to knowing the money is sitting in an account. If you have doubts, you should probably investigate other tax saving strategies.

Opening a Roth IRA for your child can be a very effective means of transferring wealth to your child and teaching important life lessons. If your child exercises restraint, your relatively small contribution to their Roth IRA can grow into a sizeable tax-free nest egg.

About The Author
Richard Chapo is CEO of http://www.businesstaxrecovery.com - Obtaining tax refunds for small businesses by finding overlooked tax deductions and credits through a free tax return review. He can be reached at richard@businesstaxrecovery.com.

Freelance Work: The Changing Face of Employment

2005-01-24T16:55:00.000-08:00

Freelance Work: The Changing Face of Employment by: Jesse S. Somer

No more working for the same company for fifty years. Freelance work is becoming more and more prominent. On-line you can find work or someone to do a job. Check out www.guru.com

The world sure is changing, and if you look at job employment you will see what I mean. Let's just go back to our grandparent's generation, even though I'm sure if we went back further we would see very different structures of work in the tribal periods of our history. Our grandparents usually found a skill, and then used that one skill to work for their whole career. An example is my grandfather who was a salesman for the same suit company for 44 years. There is nothing wrong with this. His job was secure; he knew there would be a superannuating fund when he retired, and that there would always be food on the table for his family. These days in the 21st century things have changed, and they are still changing rapidly as we speak.

Nowadays it isn't strange for a person to have around five completely different career paths in their lifetime. You might think that job security is much lower, but there are new types of jobs emerging everyday with the advent of modern technology. Older people can go back to schools and be educated in totally new areas that are greatly desired in society. One of the greatest changes in recent times is the fact that a lot of people are now working for themselves as freelancers from home. Society is still getting all the necessary work done, but the structures in which individuals pursue their dreams and goals in their areas of interest have changed completely. If you are working at home for your own business, you sure don't have the old hierarchy of bosses watching over your every move, judging your worth, and threatening you with dismissal.

People are now self-motivated as they know that if they don't get out there and share their skills and attributes with society, they simply might be forgotten. There is a new way of acquiring work these days that is so very different than the days of perusing the job-ads in the newspaper or going door-to-door asking for work. Surprise, surprise, its on the Internet! There are now on-line marketplaces for both employers to offer work and for potential freelance employees to show their portfolios. There are many, but an excellent example of one of these sites is www.guru.com. On Guru.com once you have registered your portfolio for free, you can then bid for jobs that prospective employers have advertised. On the other hand, if you are an employer, you can go to the category of work you need done (E.g.: Creative Writing) and search through a list of professionals that you can then contact to do the job.

These professionals exhibit the amount that they charge per hour, how much they have already earned through the site and a portfolio of examples of their work. They are then given a rating that has been compiled by the employers who have used their services. It is quite unbelievable; they've got people and job types from a multitude of different areas, just about any type of freelance work you can imagine: E.g. Website design, marketing, writing, graphic design, legal, engineering, photography, finance-the list is quite extensive.

So you see, "the times they are a-changin'" my friends. Imagine if you were frozen in time one hundred years ago and then thawed out today. All the basic human beliefs and emotions would be the same, but how would the world look to you? We've got to go with the flow and not get lost in the structures of old. What's your goal? Get on the Web!

About The Author
Jesse S. Somer M6.Net http://www.m6.net Jesse S. Somer is some human who wants do what he loves best to help our society to work efficiently. He imagines all people one day loving their jobs...Is he crazy?

Comments: This approach to finding work may be used to make extra income as a part time job. It could be looked at as a way to test the waters to see if you could make a living full or part time as an independent consultant using one of these job markets.

Best No Load Mutual Fund: Mutual Fund Fees and Mutual Fund Expenses

2005-01-24T16:43:00.000-08:00

Best No Load Mutual Funds: Mutual Fund Fees and Mutual Fund Expenses by: Sam Subramanian

While searching for the best no load mutual funds, some mutual fund investors often tend to focus exclusively on mutual fund fees and expense ratios. Is this always a smart way to select mutual funds?

Metrics such as price/earnings ratio and dividend yield on the S&P 500 index, a commonly used proxy for the U.S. stock market, are hardly at bargain levels. This has lead several market pundits to predict single digit annual returns for domestic mutual funds over the next decade.

While pursuing the search for the best mutual fund, some mutual fund investors tend to focus exclusively on fees and expense ratios. The rationale is that by choosing mutual funds with low fees, investors will have more of their capital invested. Also, no load mutual funds with low expense ratios will pass on more of the returns they earn to their shareholders.

Is shopping for the lowest fees and expense ratios a smart way to select mutual funds? Not always. The answer depends on the type of mutual fund you are evaluating, the time you can devote to evaluating and managing your mutual funds investments, and the type of cost incurred.

Investing in the Best No Load Index Mutual Funds.

If you believe markets are generally efficient and prefer to invest in an index mutual fund to achieve an index-like return, shopping for the best index mutual fund based on low fees and a low expense ratio makes good sense. The portfolio manager of an index mutual fund endeavors to invest the fund’s assets to track the index as closely and cost-effectively as possible. Larger index funds have an advantage in that they can spread their operating costs over a larger asset base.

Some of the interesting index mutual fund options currently available include no load index mutual funds like E*Trade S&P 500 Index Fund (Nasdaq: ETSPX), Fidelity Spartan 500 Index Fund (Nasdaq: FSMKX), and Vanguard 500 Index Fund (Nasdaq: VFINX) with expense ratios of 0.09%, 0.10%, and 0.18%, respectively.

Investing in Actively Managed Mutual Funds and Strategies.

Mutual fund fees and expenses are just one of several important factors to consider if you believe portfolio managers can add value and out-perform the index through active management. The portfolio manager’s ability and investing style are just as important. Therefore, seeking out the best mutual fund based on just low fees and a low expense ratio may not always be the right approach. It may just be a case of being ‘penny-wise and pound-foolish’.

Legendary investor Peter Lynch, who managed the Fidelity Magellan Fund (Nasdaq: FMAGX) from 1977 to 1990, achieved returns well in excess of the market averages even after accounting for the fund’s fees and expenses.

So too has Bill Miller who currently manages the Legg Mason Value Trust (Nasdaq: LMVTX). Even after accounting for its relatively high 1.7% expense ratio, this no load mutual fund has achieved compound annual returns of 18.6% for the 10 year period ending in 2004, well in excess of 12.0% for the Vanguard 500 Index mutual fund.

AlphaProfit, an investment research firm that specializes in active sector investing, uses the no load Fidelity Select Funds to implement its investing strategy through its Core™ and Focus™ model portfolios. Although not the lowest, the expense ratio of the no load Fidelity Select Funds compares favorably with that of other sector fund offerings. AlphaProfit prefers Fidelity Selects for their comprehensive coverage of sectors and industry groups. The AlphaProfit model portfolios have significantly outperformed the market averages over time.

Ensure Your Mutual Fund Puts Your Interest First.

Whether you prefer to index or take an active approach to managing your investments, ensuring that your mutual fund is putting your interests first is good investing practice.

Mutual funds charge different types of fees. By looking at some key factors pertaining to fees, you can get a sense of whether the mutual fund puts your interests first or merely seeks to line the mutual fund company’s pockets.

Serving the Interests of Long-Term Shareholders. Some mutual funds impose short-term trading fees to discourage frequent trading of mutual fund shares. Frequent trading disrupts efficient management of the mutual fund and increases operating expenses. A short-term trading fee can therefore actually be beneficial to long-term shareholders if the fee is rightly treated by the mutual fund company.

Fidelity Spartan Total Market Index Fund (Nasdaq: FSTMX), for example, follows the practice of returning short-term trading fees collected on shares held less than 90 days to the mutual fund itself rather than passing on the benefit to the mutual fund company. By having this short-term trading fee structure, this no load mutual fund seeks to contain its operating expenses. Such fees are therefore aligned with the interests of long-term shareholders of this mutual fund.

Passing on Savings from Scale Economies. The operating expenses incurred by a mutual fund are a combination of fixed and variable costs. As the asset of a mutual fund increases, the fixed cost gets spread over a larger asset base. Therefore, the expenses incurred to operate the mutual fund as a percentage of the fund’s assets should trend lower.

A mutual fund that places the interest of shareholders first must pass on the savings from scale economies to the shareholders. The trend in a mutual fund’s expense ratio therefore serves as a metric of how seriously a fund takes its fiduciary responsibility.
Key Points.

1. If you are searching for the best no load index mutual fund, shopping for one with low fees and expenses makes perfect sense.

2. If active management of investments appeals to you, fees and expenses are just one of several important factors to consider.

The ability and investing style of the portfolio manager are at least just as important as fees.

3. The types of fees a mutual fund charges and how the fund uses the fees provides clues as to how seriously a mutual fund takes its fiduciary responsibility.

Mutual funds that impose fees to contain operating expenses and return fees to the mutual fund help protect the interests of long-term shareholders.

4. Mutual funds that put the shareholders’ interests first typically pass on savings from scale economies to the shareholders.

Notes: This report is for information purposes only. Nothing herein should be construed as an offer to buy or sell securities or to give individual investment advice. This report does not have regard to the specific investment objectives, financial situation, and particular needs of any specific person who may receive this report. The information contained in this report is obtained from various sources believed to be accurate and is provided without warranties of any kind. AlphaProfit Investments, LLC does not represent that this information, including any third party information, is accurate or complete and it should not be relied upon as such. AlphaProfit Investments, LLC is not responsible for any errors or omissions herein. Opinions expressed herein reflect the opinion of AlphaProfit Investments, LLC and are subject to change without notice. AlphaProfit Investments, LLC disclaims any liability for any direct or incidental loss incurred by applying any of the information in this report. The third-party trademarks or service marks appearing within this report are the property of their respective owners. All other trademarks appearing herein are the property of AlphaProfit Investments, LLC. Owners and employees of AlphaProfit Investments, LLC for their own accounts invest in the Fidelity Mutual Funds included in the AlphaProfit Core and Focus model portfolios. AlphaProfit Investments, LLC neither is associated with nor receives any compensation from Fidelity Investments or other mutual fund companies mentioned in this report. Past performance is neither an indication of nor a guarantee for future results. No part of this document may be reproduced in any manner without written permission of AlphaProfit Investments, LLC. Copyright © 2005 AlphaProfit Investments, LLC. All rights reserved.

About The Author
Sam Subramanian, PhD, MBA is Managing Principal of AlphaProfit Investments, LLC. He edits the AlphaProfit Sector Investors' Newsletter™, a publication that discusses investments using Fidelity mutual funds. For the 5 year period ending December 31, 2004, during which the Dow Jones Wilshire 5000 Total Market Index declined 6.9%, the AlphaProfit model portfolios increased by up to 186.2%, an average annual return of 23.4%. To learn more about AlphaProfit and to subscribe to the FREE newsletter, visit http://www.alphaprofit.com .

You Can Make Financial Resolutions Anytime

2005-01-18T10:16:00.000-08:00

You Can Make Financial Resolutions Anytime by: David Wilding

The New Year often brings with it a desire to right the wrongs in your life. From this desire springs the tradition of New Year resolutions. You should take advantage of this to change your financial situation.

There is a good chance by the time many of you read this, you will have already made and BROKEN your financial resolutions. Those of you who have not already done so, know they are hard to keep. You can change that. Anytime is a good time to make financial resolutions.

Since you are thinking about this, you must suspect a problem. The first step is defining the problem. Define it specifically. "I spend too much money", is not good enough. You spend too much money on what? Why do you spend too much money? It is not often you are speaking of life's necessities here. You need to specifically target your problem areas.

The best way to identify problem areas in your spending, is to pull out your check registers and credit card statements for the past twelve months. Write down all checks and charges for items other than necessities. This spending will be your gold to mine.

After making this list, add up the total amount of these expenses. This will be a very revealing exercise. For some the total will be staggering, especially when done for a twelve month period.

Pay close attention to checks and charges for restaurants and fast food chains. Look at the amount and frequency of payments to convenience stores. Examine closely the spending on your home and your closet.

Using this information you become aware of your weaknesses and where they occur. You are now better equipped to overcome them. You need to make conscious decisions to stay away from the places where you overspend. If you don't go there you won't be tempted to waste your resources and place your financial life in peril.

Now, armed with these bits of information you can boldly and successfully make resolutions. Remember, changing your behavior is how you will keep these resolutions. If you fail, and you will, just climb right back on the resolution wagon. Dogged repetition will help you succeed. Check how you are doing on a monthly basis. Make any adjustments needed.

Putting your financial house in order and becoming debt free is a process before it is an event.

About The Author

(C) 2005 David Wilding
David Wilding has for the past ten years worked with groups and individuals to rid themselves of debt. Visit his website http://www.debtattack.com for more ideas, tools, and strategies for becoming debt free.

ddmmw@access4less.net

Debt Management

2005-01-18T10:11:00.000-08:00

Debt Management by: Jason Holmes

At times of severe financial crisis Debt Management Plan (DMP) helps you to manage your funds and also protects you from the humiliation of debt struck conditions. The famous American author Washington Irving in ‘Wolfert’s Roost’ addressed dollar as Almighty and described it as the great object of Universal devotion. A man who can manage his dollars well can manage his life as well. A Debt Management Plan (DMP) teaches you how to manage your dollars well and lead a prosperous life even during times of financial crisis. Debt Management is a process that allows you to compile your multiple debts into one amount and work out a repayment scheme where you pay the debts in affordable monthly installments. Debt management companies usually negotiate with your creditors to reduce or eliminate high interest charges, delete late fees and other penalties, and update your past due accounts to show current status.

Debt Management Plan has gained immense popularity in the past couple of years with the striking difference they created in gifting hundreds of people a debt free life. In a recent survey it was reported that almost 32% client filed bankruptcy. Additionally almost 10% reported that they are going to file bankruptcy. However, the remaining 58% clients are opting for Debt Management Plans which they find is highly beneficial. The other half who opted for bankruptcy did not prefer to manage their debts and work on a new repayment scheme.

Clients who successfully completed a DMP felt that it provided a wealth of different benefits, both for the present days and the future ahead. Almost 85% of clients felt that the ability to payoff their debt was beneficial and almost 55 % felt that the plan helped stop collection calls. In the long run, almost 32% of the clients felt that the plan helped them balance their budget and almost 41% felt that they learned new budgeting skills. A total of almost 38% felt that they improved their credit worthiness and almost 51% felt that they improved their overall financial status.

With the Christmas festivities happening in the recent past Debt Management Plans seems to be on an upraise. It is reported that millions of Americans ran up billions of dollars in spending on their credit cards in the past month. The issuers of two major credit cards, MasterCard and Visa, reported some record numbers, according to reports published by CNNMONEY. Reports also cited Visa reporting a 31.8 percent increase in spending when compared to 2003. MasterCard processed a record number of transactions at 914 million, totaling $60 billion, up 12.9 percent from last year. The statistics reflects the confidence and merriment among the consumers. However, the financial analysts at this juncture can smell heavy financial burdens that can cause a wrinkle for people who are not in a position to pay back their debts. With this trend, it is expected that the majority of the population undergoing debts will opt for Debt Management Plan which will show a surge in this program like never before.

For more sound and in-depth knowledge in debt management plan, please view: http://www.debtconsolidationcare.com/debt-management.html http://www.debtconsolidationcare.com/debt-solution.html http://www.debtconsolidationcare.com/help.html http://www.debtconsolidationcare.com/credit-negotiating.html

About The Author
Jason Holmes is a contributing writer to http://debtconsolidationcare.com and is currently working on a special section in the site called do it yourself where you can eliminate your debts and become debt free..

marcia@debtconsolidationcare.com

If you rent a home, protect it by buying Renters Insurance.

2005-01-15T10:57:00.000-08:00

If you rent a home, protect it by buying Renters Insurance. by: Mike Yeager

Renters insurance is often overlooked by people who are renting their house or apartment. Many people don’t realize that their landlord’s insurance only covers the building that you live, there in no coverage for your personal belongs. Renters insurance usually offers full coverage to protect your belongs from fire, flooding, theft, and many other types of perils. Most renters’ policies are actually very inexpensive, especially when compared with regular homeowners insurance; and it’s easy to get a renters insurance quote. People who rent their homes or apartments may not realize that they may need liability insurance. You could be held responsible for injury to another person if they were injured in your rented residence. Fortunately, most renters insurance will guarantee personal liability coverage. Renters insurance will be able to help protect you in case of a liability lawsuit against you. In addition, if the place you are renting becomes unlivable for any reason, most renters’ insurance policies will allow additional living expenses. This means that your insurance will pay for your hotel room or any other expense you may have if your home become unlivable.

Some suggestions keeping your Renters Insurance premium low.

The cost of your renters insurance coverage will depend on many factors, including the place you live, your insurance company, your deductible, and many other factors. One tip is to increase the deductible, which will in the long run lower the amount of money you will have to pay. If you put in safety measures like fire alarms, burglar alarms, and fire extinguishers your insurance company may offer a discount. If you rent a home, a renters insurance quote will provide you with peace of mind and security for as long as you rent a home. With a little planning and searching you’ll be able to find great rates on Renters insurance quotes and cheap renters insurance.

About The Author
Mike Yeager Publisher http://www.a1-insurance-quotes-4u.com/

It Only Takes a Few Simple Steps To Avoid Student Loan Debt

2005-01-15T10:49:00.000-08:00

It Only Takes a Few Simple Steps To Avoid Student Loan Debt by: Mike Yeager

Student loan debt is a problem that affects many former students. It is a long and difficult process to pay off a student loan. Undoubtedly, it is much easier to avoid student loan debt in the first place. There are a few simple steps that can be taken to either escape student loan debt or ensure that the debt won’t be too hard to pay off in the future. Consider student loans only after you have researched all the sources of free financial aid. Many people who are eligible for financial don’t even realize it and instead take out a student loan. If you are not eligible for financial aid and need to take out a student loan, be aware that there are three major types of student loans: Federal Family Education Loans, Federal Direct Loans, and Federal Perkins Loans. Make sure you don’t go over your head in debt by deciding how much you can afford to borrow, and how much you can realistically repay.

Ask for help if you have trouble paying off your Student Loan Debt.

If you’re having difficulty repaying your loans, don’t be afraid to talk it over with your lender or loan servicer. Generally, the earlier you ask for help, the easier it is to get it. If you are having trouble remembering to pay your student loan, ask a bank for help and they should be able to set up an automated paying service, where you won’t have to worry about writing a check. Or, consider asking for student loan debt consolidation, which will combine all your federal loans into a single loan.

About The Author
Mike Yeager Publisher http://www.a1-loans-4u.com/

Attaining A Debt Free Lifestyle

2005-01-15T10:37:00.000-08:00

Attaining A Debt Free Lifestyle by: John Cook

Many people have been taught that you cannot get ahead without debt. We are also inundated with advertising telling us we can have anything we want. All we need to do is put it on our credit card.

We have become an impatient society, we want it right now. We have lost the ethic of working for what we want.

It is not how much money you make; it is what you do with it. By living without debt you can actually have a higher income since you are not paying out interest, you are actually getting paid interest on invested money.

All debt is not created equal. We will classify them as good debt and bad debt.

To simplify the classification we will say that good debt is a loan for something that you could sell at any time and repay the debt. This narrows down good debt to a home loan and possibly a home equity loan.

A bad debt, of course, is a loan on anything that will lose value.

Let's take a look at some debts that we would consider bad debt.

Home equity loans are in the gray area. They could be considered good debt if they are used to repair or improve your home, but you would be a lot better off to just save up the money for the project. Home equity loans become bad debt when used for purposes other than home improvement or maintenance. In other words a bad home equity loan is for anything that does not add to the value of your house. Do not jeopardize your home by taking out a home equity loan on unnecessary items.

One possible good use for a home equity loan is when the interest rates are low. You can use a home equity loan to refinance your mortgage. Home equity loans generally have lower costs than conventional home loans.

We consider school loans bad debt. If you finish school, get a good high paying job and then attack the loan like mad, a school loan may work out. The problem is that there are too many things that can go wrong. At best, even if you do graduate and get a good job there are always a lot of other expenses at this time in ones life. You are really behind financially when you start your working life in debt.

Auto loans are bad loans that have become common practice to us. We pay interest on a vehicle that will only be worth one half of its original purchase price in five years. Lately it has also been common for us to borrow more than a vehicle is worth. We can trade a car in that we still owe on, and roll that owed amount over into another vehicle. This gives us a loan amount that is higher than the value of the car that we drive away. We have lost our capacity to say NO.

Co-signing is a bad debt that usually and unfortunately involves family. If someone cannot qualify for a loan at a regular lending institution, they should not get a loan. The fact that they can’t qualify for a loan elsewhere should tell you that they are a huge risk. Use this opportunity to teach them how they can get what they want by working harder for it and delaying the purchase.
If you want to get off of the debt treadmill, you must run as far away from debt as you can. You cannot use debt to get out of debt. Even if you do, you have not changed your habits; you must change your lifestyle.

About The Author
John Cook is a family guy who likes to help people get off and stay off the debt treadmill and secure the financial future of their family. You can read more about securing your families finances at his website www.financeforfamilies.com.

Time Management

2005-01-15T10:15:00.000-08:00

Time Management by: Gus

With the creation of the universe, God gave humankind a miraculous gift. A wonderful gift which cannot be seen or touched but without which there will be no meaning in life. In fact without which it would be difficult to imagine life. It is time!

God being kind and just gave this to all of us in equal quantity. He knew that some of His children would be wasteful. So He gave it in such a way that they would not be able to waste all of it. He assured a continuous and fresh supply of it. Each day He gives us a fresh supply of twenty four hours or 1440 minutes or 86,400 seconds per day to each of us—poor or rich, good or bad, man or woman.

We may have handicaps of education, money, and connections. But we are not handicapped by time. It is given equally to all. It is the most important ingredient in success. Use your time wisely and nobody can stop you from succeeding.

Time management is the key to keeping your New Year Resolutions.

How to use time wisely? Of course, by managing it wisely. Here are a few tips to manage your time.

1. Eliminate Big Chunks of Wastage of Time: We are usually Pound Foolish, Penny Wise. We jump red light to save a fraction of second but before that we might have already wasted hours in some useless activity. There are big chunks of time which we usually waste—sleeping long hours, wasting time in front of TV, gossiping, in drinking and dining parties, etc. If you spend two hours each way in commuting to office, you have to find some solution to it. Either change office or residence or utilize the commuting time in reading (if traveling by bus or metro) or listening to useful audios.

2. Eliminate Wastage of Time on Irrelevant Activities: We are usually not focused in our life. Not only we should have a single goal in life but all our efforts and time should be directed towards it. If you want to write a book, not only you have to eliminate big chunks of wastage of time, but you should also avoid irrelevant activities such as, may be, a side business, politics, and involvement in activities of various social activities which may be good in themselves.

3. Plan your Time: Planning is very important for time management. One obvious benefit is that as you would never put in your plan items of big chunks of wastage of time and irrelevant activities, they would be eliminated automatically! Write down your daily, weekly, monthly, yearly, and may be even more long term plans.

About The Author
Gus is the writer of the recent ebook Be Happy! The Guide comes with an Action Plan. The Guide, divided into three parts of Body, Mind and Heart, and Soul, deals with various sources of happiness and how to be happy. The Action Plan gives To-Do lists, Happiness Quotations, Affirmations and Meditations, etc. For more information, please, visit: www.thelifebeautiful.com.

Looking for Love In All The Wrong Places

2005-01-15T10:05:00.000-08:00

Looking For Love In All The Wrong Places
by: Geela

Quote of the day: 'All that you seek you already have within you.'

Practically every year finding love is at the top of Americans’ list of resolutions for the New Year. That’s the good news. The bad news is that most Americans are looking for love in all the wrong places.

The way I see it, the definition of love should not be limited to romantic love alone. Love is more than a sentiment. Love is a way of being. The broader definition of love should also be a longing for experiencing a life of fulfillment, purpose, meaning, inner peace, fulfillment, real joy and self-worth. After all, everything we do is to either experience more love and fulfillment or to compensate for the lack of it.

Some people have been willing to go under the knife, and endure excruciating pain, to change their looks (hoping the mirror will still be kind just a little longer and gravity will not take its toll anytime soon). Some people have deprived themselves of food while on the quest for attaining the perfect body. They have been willing to go into huge debt and endure the worst kind of pain and humiliation that comes from compromising one’s integrity and selling their soul just to support a life-style and status they couldn’t afford. Some even ignored and deprived the biggest part of their Self, their spirit, which allows them to experience all the very things they set out to attain in the first place. In short, you name it and they endured just about anything in their quest for love.

Even for those who were able to achieve material success, it was only a hollow victory since no amount of money, good looks, status and/or trophies could fill up the void inside which was created by a malnourished spirit. They too discovered that “when you get there, there is no “there” there,” and that external riches don’t necessarily have the power to give us internal riches (“real love” defined as fulfillment, purpose, meaning, inner peace, real joy and self-worth) that we are desperately seeking. At best they were flirting with the illusion of love rather than experiencing the real deal.

In a “more is better” culture where vanity, and not virtue, is worshipped (consider the growing trend of reality TV shows such as “For Love or Money”) it’s easy to understand why we have been looking for love in all the wrong places. Yet surprisingly, we have ignored the fact that the natural state of our spirit is love, which is the driving force behind all creation. Hollywood stars, the media and multi-billion dollar industries have all brainwashed us to believe that we are simply not adequate, worthy or good enough to be loved just the way we are and that it is only “He with the most toys, and not joy, lives.” The reality is that finding true love should not be either painful and/or costly. You can find true love (in the broader definition) no matter what you have been brainwashed to believe. First you must recognize that you are a spiritual being first, having a human experience (and not the other way around) and therefore, your natural state of being is love. As such you were meant to live a life of meaning, purpose, fulfillment, real joy, inner peace, and abundance by reconnecting with your spiritual roots (living in harmony with universal laws characterized by integrity, giving and the honoring of all living things). We can’t truly be happy and fulfilled without the element of giving. Real joy comes from making a meaningful difference in people’s lives, when money and power are used as useful tools to help make a difference.

Next time you are tempted to look for “love” in all the wrong places, consider the definition of real love. Most importantly remember that all that you seek is not “somewhere out there,” but rather it is already within you. All you have to do is recognize it and enjoy it while you can.

About The Author

Copyright © 2004-2005, Geela
Author of “The American Dream”
http://www.Geela.com

2005-01-14T11:06:00.000-08:00

Top 10 Secrets to Avoiding “Marital Money Chaos©” by: Cindy Morus

Money can wreck a relationship. In fact, how they spend, save, and account for money is one of the leading sources of disagreements between couples. In almost every study, money ranks as the first or second most argued-about topic for couples and partners. If you currently suffer from “Marital Money Chaos©” you can follow these secrets and achieve more financial success together than you ever could have dreamed. If the two of you can improve your relationship with money, you will also improve your marriage. Money can be romantic!

Secret #1: Know your spending style and your partners’

How many of you are married to your “Financial Soul Mate”?

The most common are spending styles are Spenders and Savers but there are also the Procrastinators/Avoiders/Deal with it Tomorrow types and the Money Meek/Humble/ personalities.

What are the benefits/good things about each style? What are the things you call your partner when you fight about money?

Find ways in which you can take advantage of your personality strengths and minimize the weaknesses of that style. In the best possible scenario, you will both acknowledge your differences and move to the middle.

Secret #2: Values Driven Spending

Values are different than goals

Values: Creativity, Freedom, Friendship, Financial Security

Goals: Be debt free, get a new car, and give more to charity

Take some time to choose your top 5 values and define each of them in your own words. Share the definitions and use them to understand your partner and what is important to them. If your partner’s money behavior confuses you, ask which value they are satisfying. They may be doing their best, but their definition is different than yours. If you both use the same value word but have different meanings, you’ll have conflict.

Secret #3: Have regular Money Meetings or Money Dates!

How many of you think that money is romantic? Actually, since couples fight more about money than anything else (it is estimated that 80% of divorces are the result of money disagreements), having an honest talk about household finances might be better for your relationship than anything else you can do! Financial well-being and peace of mind are certainly romantic!

It doesn’t matter how much money people have, money is a daily event. That increases the chance of it triggering arguments and tension. Use regular meetings as a way to avoid conflict

Secret #4: Enjoy the present and save for the future

Everyone needs to have their own play money. Ideally 5-10% of your family’s income should be set aside for play. What’s the use of working every day if you don’t get to spend some money on play?

Secret #5: Have a needs/wish list for each person and for the family

We all have things we wish we had and those we need to purchase. Check your list on a regular basis so your subconscious can focus on other things. It’s also great fun to check off the things you take care of. Great place to go to find out how to spend bonuses or other windfalls.

Secret #6: Divide financial responsibilities between partners

Focus on each person’s skills, interests and availability rather than relying on out-dated gender stereotypes or how much money one partner makes. Share what’s going on with your partner during your monthly meetings and make big decisions together.

Secret #7: Each person has some money they do not have to account for/

This is probably one of the MOST important things you can do for your relationship. No grown up likes to have to ask for an allowance or justify every little expenditure they make. Determine in advance how much money each person can “do with what they will” and no questions asked. Savers can save, spenders can spend, procrastinators can leave it in a jar and the money meek can feel free to give it all away.

Secret #8: Take action, one step at a time

I can guarantee that you will save $1000 1 year from today if you put away just $2.74 per day. Where can you find $2.74 each and every day? Do the same with larger goals. If you want to go on a $2000 vacation next year, save $6 per day.

Secret #9: Learn something about money and finances every day

There are lots of good resources out there – websites, books, magazines, classes. You can start at my website: www.cindymorus.com where I have articles, calculators, book reviews and teleclass schedules.

Secret #10: Plan your spending and spend your plan

I know, no one likes the “B” word (I call them spending plans) because they feel restrictive. Instead, plan your spending ahead of time and give yourself permission to spend money in certain areas and get creative about the areas where you choose to spend less. When we feel like “going out” at our house, we have “no silverware dinner” of ribs, french-fries and artichokes. We spend the time enjoying ourselves and creating memories without spending a lot of money. I bet you can do the same!

(c) Phelps Creek Financial Coaching - All Rights Reserved

About The Author
Cindy Morus (www.cindymorus.com) is a Certified Financial Recovery Counselor specializing in showing women and their families how to achieve financial well-being and peace of mind. She is also a Certified Credit Report Reviewer. Contact her at 541-387-2995 or cindy@cindymorus.com. Get a free copy of the "Secrets to lowering your Credit Card Interest Rates" e-book when you sign up for the "Women's Financial Freedom Monthly" newsletter at www.phelps-creek.com/newsletter.asp.

3 Sure Fire Ways To Beat New Year Financial Stress

2005-01-14T10:48:00.000-08:00

3 Sure Fire Ways To Beat New Year Financial Stress by: Robert S. Laura

1) Get CREATIVE

Don’t fall victim to typical or cliché financial goals that you know, from your own experience, you haven’t been able to stay focused on. Switch things up and simply commit to spending 10-15 minutes, one day a week, thinking about ways you can turn regular spending into savings. Choose a specific dollar bill, for example, a five or ten dollar bill, that you will separate and save for a special purpose every time one ends up in your possession. Or if you’re not ready to brown bag it at work, commit to drinking water every day with your lunch. This should save you about $1.50 a day, which, over an entire week should cover the cost of your lunch on Friday.

2) Pinpoint Financial STRESS

Not sure where to focus your financial efforts? Start by finding out where the greatest opportunity is by asking yourself, “What’s the one thing you don’t want anyone to know about your current financial situation?” The answer should concisely pinpoint the financial area of your life that needs your most urgent attention.

3) Sleep on IT!

It’s getting more and more difficult to keep up with Joneses who inevitable continue to raise the perceived standards of a good living. Commit to a dollar amount that you will not spend until you have thought it over for 24 or 48 hours. By avoiding compulsive expenses, you can save hundreds of dollars.

Robert Laura is the author of Financial Karma: Real Life Financial Strategies (www.financialkarma.com) and the President of Financial I.Q. – “The Cash Flow Consultants.” robertslaura@financialkarma.com

About The Author
Robert Laura is a money management expert, speaker, and the author of Financial Karma: Real Life Financial Strategies (www.financialkarma.com) and the President of Financial I.Q. – “The Cash Flow Consultants.” robertslaura@financialkarma.com.

Can't Afford To Retire Until 7 Years After You

2005-01-14T10:41:00.000-08:00

Can't Afford To Retire Until 7 Years After You by: Lin Schreiber

Most people think that's all retirement is about -- having enough money to sit on the deck, play golf, and visit the grandkids. But that's the old model -- not today's retirement. I believe you can revolutionize your retirement even if you can't count on 80% of your current revenue when you stop working. (That's the secret number according to many retirement experts.)

Someone who turns 65 today can expect to live until age 83, according to the US Bureau of Labor Statistics. So, even if you stop working at the normal retirement age, you've got nearly two decades to fill with things that really matter to you. And, if you give up traditional employment sooner, you've got even more years to enjoy the 'third half' of life. Today the average retirement age is an astonishing 57.

I said 'enjoy,' and I mean it. To do that, you need to put yourself squarely in the driver's seat -- decide when and how you retire and who you will be. Don't let someone else's definition determine your retirement.

So, begin by putting the money issue aside entirely. That's right. Just forget about money and take a good hard look at the life you want to be living. Start journaling, brainstorm with friends and family, and dream a lot. For inspiration, download the Retirement Re-Tool Kit Ebook at http://www.RevolutionizeRetirement.com/revolutionize.htm and follow link after link of ideas and tools to help you plan the perfect retirement for YOU.

OK. So money does have something to do with it. Now's the time to figure out exactly how much you have and what you'll need. Maybe you'll discover that you have enough money to do everything you want to do. Congratulations!

But what if you don't? Will you need to work until seven years after you're dead? Or can you still create the retirement of your dreams? Of course you can. Here are some ways to make that happen.

First, sharpen your pencil and reconsider how much is enough? Maybe you don't need to stay in the big house and take care of all that stuff. Perhaps you'd love to simplify your life by living out of your RV as you travel the country. What could you downsize or let go of to buy yourself a more carefree existence?

Second, consider supplemental income. Wait a minute, didn't I just say you were going to stop working? Well, there's work. And, then there's work.

Larry was an art teacher in an urban high school for his entire career. In retirement, he followed his passion for painting and also volunteered at a national art society near his home. His experience, enthusiasm and organizational skills so impressed the Director that Larry was offered a part-time position as Assistant Director. Although he has less time for his painting, the supplemental income allows him the luxury of another passion - regular trips to Italy.

Maybe you've been passionate about your hobby all your life -- making woodcarvings, gardening, or playing bridge. What about a part-time job as a gardening assistant during the summer, selling your work at craft fairs, or getting certified as a bridge instructor?

Think about what you love to do, the best times in your life, what you never had time for when you were raising children and working full time. If you love animals, become a pet sitter. Consider working in a day care center, if small children delight you.

Try seasonal employment. That's what Betty and Bob do. They say they're 'rewired,' not 'retired.' Each winter they close their Maryland home, pack up her home-based marketing business, and head to Snowmass, Colorado. For the next two months, they work for the ski corporation -- alongside college kids from Australia and a few other couples their age. He parks cars and slings skis on busses; she helps families plan their vacations at the resort. The minimum wage they make covers basic expenses, they each get a season's pass worth $1,799, and they only work a few days each week. The rest of the time they follow their passion on the ski slopes.

Seasonal employment is available at National Parks, community facilities, and as travel hosts to exotic places. Furthermore, there are lots of Web sites that specialize in senior employment listed in the Retirement Re-Tool Kit Ebook.

But if you really want to make the most of the 'third half' of your life, consider packaging what you know and sharing it with others. That's what Miriam did. After 30 years of a successful therapy practice, she traded her East Coast home for a West Coast apartment. With her savings and a handsome settlement from her ex-husband, she lived the good life. Then one day the money was gone. Already in her seventies, she picked herself up, buffed up an old passion, and began writing psychological thrillers. Today, Miriam is making more money than she did during her other career and she's having a lot more fun.

What will it take for you to let go of your outdated beliefs about money and retirement and get inspired to revolutionize the 'third half' of your life?

Remember, money is merely one of the 15 'must haves' for a thriving retirement. While taking charge of your life, having dreams for the future, and a purpose that pulls you out of bed in the morning are not as tangible as, say, $1.3 million in assets, they're just as crucial.

About The Author
Lin Schreiber, is a Speaker and Certified Retirement Coach, and the author of '88 Tips for Planning a Healthy, Happy, Enriching Retirement Life' available at http://www.RevolutionizeRetirement.com.

Investors Lose Buying Market Leaders -- Stop Chasing Performance

2005-01-14T10:31:00.000-08:00

Investors Lose Buying Market Leaders -- Stop Chasing Performance by: Tim Olson

You read right. Millions of investors guarantee their failure by selecting mutual funds and stocks based on quarterly or annual performance records. Do you chase performance? You might be buying high and selling low!

As the year draws to a close, millions of mutual fund investors begin an annual event to divine next year’s winners. Yet most of these individuals rely heavily on a time-honored – but terribly wrong – method of evaluating strength. Whether analyzing screening tools from websites, reviewing fund honor rolls in magazines, or using star ratings from fund analysts, normally savvy business people foolishly chase the returns of last year’s hottest investments.

This begs the question: Can top performing mutual funds lead two years in a row? Consider a study commissioned by Vanguard Investments Australia and released by Morningstar. The five best performing funds were analyzed from 1994 to 2003. Here are the results:

Only 16% of top five funds make it to the following year’s list.
Top five funds average 15% lower returns the following year.
Top five funds barely beat (by 0.3%) the market the following year.
21% of all top five funds ceased to exist within the following 10 years.

Academic studies and market statistics confirm the typical investor acts in direct opposition to the sage advice – buy low, sell high. It’s only after high returns are realized and reported that investors pour money into both stock and bond mutual funds. In fact, Financial Research Corporation compared investor cash flows into mutual funds. Purchases immediately following best-performing quarters exceed 14 times those immediately following their worst-performing quarters. In other words, you are 14 times more likely to buy funds at their highest price than at it’s lowest. Buy high and sell low.

Just what kind of damage are they inflicting to their investment returns? DALBAR, Inc., conducted a well-known study called Quantitative Analysis of Investor Behavior. The study confirms investors’ poor timing and the resulting financial carnage. Investors buy funds immediately after a rapid price appreciation. This just happens to be right before investment performance wanes. Prices fall soon after and the investors quickly dump their holdings to search for the next hot fund. The resulting returns fail to even beat inflation! When measured over the last nineteen years, the average equity investor earned a meager 2.6% annual return. Compare that to a 3.1% inflation rate and a 12.2% return from the S&P 500 over the exact same time period. Not only did investors fail to keep up with the market, they also lost money to inflation.

We’ve all seen the warnings on packages of cigarettes. Even smokers understand their relevance; smoking is not a healthy activity. So why do investors not heed warnings about mutual fund returns? You’ve all seen those statements too. But can you remember what is said? Past performance is not a guarantee or indicator of future results. Research and studies have proven this fact, yet the majority of investors choose to ignore this warning. Yes, it’s an easy means of comparing funds. It also happens to be completely irrelevant. Let me evangelize these words for you. Past performance does not predict future results!

Here’s how you can stop chasing short term performance and stay focused on your financial goals. Identify appropriate long-term investments by evaluating the following:

Group leadership: How does the fund perform relative to similar size and similar style funds?
Management tenure: How long have the managers and advisors been at the fund?
Management skill: Are managers well-known and highly-regarded (e.g. remember Peter Lynch)?
Consistency of returns: Are the 3, 5, and 10 year returns all above average?

Finally, measure returns based on your entire portfolio. History shows that no single investment success repeats. Accept the fact every year is different and brings new leaders and laggards. Use an asset allocation strategy to guarantee balance and increase long term returns among all your investments. Invest in a diversified portfolio to meet your financial goals — and stick with it.

Not yet learned your lesson? Consider this: Fourteen mutual funds topped the 2003 charts with returns over 100%. In 2004, these fourteen funds lost over 4% while the S&P 500 gained over 9%. Congratulations, chasing performance lost 13% of your money this year.

About The Author
Tim Olson http://TheAssetAdvisor.com Subscribe to our free newsletter.
Mr. Olson is the editor of The Asset Advisor, a financial investment service providing proven strategies for no-load mutual fund investors. He brings 26 years of education and experience from Stanford University, Ernst & Young financial consulting, personal wealth management, and venture capital investing.

Rebuild & Keep Good Credit Ratings by Understanding Your Credit Cards

2005-01-07T18:23:00.000-08:00

Rebuild & Keep Good Credit Ratings by Understanding Your Credit Cards by: David Hall

SECURED CREDIT CARDS

Secured Credit Card is similar to a prepaid credit card since the funds you are using are actually yours and not the issuer of the credit card. Generally people who apply for secured credit card or prepaid credit card are people with poor credit or unemployed. Prepaid Credit Card spending limit is the amount of money you loaded to the card. There are no interest or finance charges on a prepaid card. With secured credit card, your credit line could be from 50% to 100% of your deposit depending on the institution giving you the secured credit. Therefore the company giving you the secured credit card has zero risk.

Secured credit card can be very beneficial because it gives you an opportunity to rebuild your credit history and you are able to make purchases just as if you had an unsecured credit card. Many companies require that you have a credit card to make purchases, such as car rental, airline tickets, etc. Ensure that the company issuing the secured credit, routinely reports customers' payment history to any of the three main credit bureaus namely Experience, Equifax and Trans Union. This reporting to the credit bureaus will rebuild your credit history over time.
Closing unnecessary accounts and consolidating your bills to make payments more manageable could be an advantage financially. By not applying for too much credit within a short period of time is another factor that will help in rebuilding your credit rating. Additionally, even though secured credit is like prepaid cards, they do have certain fees attached. Benefits are similar to that of an unsecured credit card, such as usually being paid interest on your balance in the bank, using Automated Teller Machines (ATM) to make deposits, withdrawals, and making purchases at participating merchants. Following the above steps will strengthen your credit rating.

UNSECURED CREDIT CARDS

Unsecured cards are issued to individuals with good to excellent credit rating. Credit ratings depend on certain criteria, such as one's ability to repay loans. These criteria include payment history, employment history, and financial stability. Individuals with excellent credit will most likely receive a lower interest rate. A major factor in maintaining excellent credit is making your loan payments on time thus avoiding late fee penalties.
Customers should read the credit agreement to ensure that they understand their obligation to the creditor. Making payments on time will strengthen your credit rating. Unsecured credit cards has numerous advantages such as low interest rates, high credit limit, business name options, no annual fees, and low APRs on balance transfers up to 12 months. Closing unnecessary accounts and consolidating your bills to make payments more manageable could be an advantage financially. By not applying for too much credit within a short period of time is another factor that will help in maintaining a good credit rating.

REBUILDING YOUR CREDIT

It takes time, patience, and consistency. If you consistently pay your bills on time, you will see an improvement in your credit ratings over time. There are no quick fixes for improving your credit report except for mistakes or inaccuracies that can be corrected, hopefully in your favor. Your credit information is maintained by the credit bureaus namely Experience, Equifax, and Trans Union for seven years. Therefore poor credit information will remain on your report for seven years. The good thing is that as negative information disappears with positive information, this will definitely rebuild your credit rating. Closing unnecessary accounts and consolidating your bills to make payments more manageable could be an advantage financially. By not applying for too much credit within a short period of time is another factor that will help in rebuilding your credit rating.

Applying for secured credit card can be very beneficial because it gives you an opportunity to rebuild your credit history, and you are able to make purchases just as if you had an unsecured credit card. Many companies require that you have a credit card to make purchases, such as car rental, airline tickets, etc. Ensure that the company issuing the secured credit, routinely reports customers' payment history to any of the three main credit bureaus namely Experience, Equifax and Trans Union. This reporting to the credit bureaus will rebuild your credit history over time.

BUSINESS CREDIT CARDS

Business credit cards are very popular for small business owners because of the many benefits they offer. Benefits includes 0% Intro APR on balance transfers, no annual fees, high credit limit, low interest rates, cash rewards, bonus miles, free online account management to choosing card design etc., At iCreditOnline.com we have some of the best business credit cards from American Express, Advanta, Chase, Bank One, Bank of America, Discover, Citibank, Household Bank and more, with online credit card approval. Why waste time going to a bank when you can get a decision in less than 60 seconds with secure online credit card application. Online Credit Card Approval with Online Credit Card Application is fast and easy!

STUDENT CREDIT CARDS

Having a student credit card while still living at home or attending school away from home can be an advantage. It gives the student the opportunity to establish credit at an early age and to start asserting their independence. It comes in handy in case of emergency, it is less trouble and safer to carry a student credit card than to carry cash. Parents find student credit cards to be very convenient. They are able to make deposits to their children's account while they are away from home. Students should be careful with their credit card receipts to avoid identity thief.

If you consistently pay your bills on time, obtaining students credit cards is a good way to established credit rating and start building a good credit history while in school. Establishing and maintaining a good credit rating will make it easy to purchase a car, a home or obtaining a personal loan in the future. For students who are not committed to their financial obligation, getting a student credit card is not a good idea. Running up balances, finding yourself in debt, unable to make monthly payments will destroy your credit rating.

Student's credit cards generally have high interest rates. At iCreditOnline.com we offer some of the best student credit cards from Chase and Discover with 0% APR introductory rate for 6 months, no annual fees and online account access. Online credit card approval with online credit card application is fast and easy!

EXPLANATIONS OF SOME OF THE CREDIT CARD TERMINOLOGY

0% Intro APR Credit Card or Balance Transfer Credit Card - gives you the benefit of using this credit card without making any interest payment on the principal for a stated period of time. This credit card is marketed to individuals with good credit rating who want to transfer balance from a high interest credit card to a 0% intro APR credit card.

Cash Rewards or Cash Back Credit Card - earns a percentage on purchases made. This reward or cash back is credited to your account.

Debit Card - takes the place of carrying a checkbook or cash. This card is used like a credit card with certain limitations, such as not being able to rent a car. Purchase transactions are contingent upon having enough funds in your checking or savings account to cover the purchase. Verification of funds requires entering your Personal Identification Number (PIN) at a point-of-sale terminal.

Low Interest Credit Card - saves you money. Having a good credit rating qualifies you for some of the best low APR credit card offers.

Prepaid Credit Card - spending limit is the amount of money you loaded to the card. There are no interest or finance charges on a prepaid card. Therefore the company giving you the prepaid credit card has zero risk. Generally people who apply for prepaid credit card are people with poor credit or unemployed.

Secured Credit Card - is secured by the amount of funds you have in your account. Your credit line could be from 50% to 100% of your deposit depending on the institution giving you the secured credit.

Unsecured Credit Card - is issued to individuals with good to excellent credit rating. Credit ratings depend on certain criteria, such as one's ability to repay loans. These criteria include payment history, employment history, and financial stability. Individuals with excellent credit will most likely receive a lower interest rate and can receive instant online credit card approval. A major factor in maintaining excellent credit is making your loan payments on time thus avoiding late fee penalties.

Travel Rewards Credit Card - benefits may include travel accident insurance, free rental car collision/loss damage insurance, rebate on gasoline purchases, frequent flyer points or bonus miles towards airline flights, free quarterly and annual account summaries.

About The Author

David Hall owns iCreditOnline.com. He offers free downloadable, high quality guides on credit repair, credit ratings, credit scoring, debt consolidation and more. He has tools for finding a wide range of financial services including secured and unsecure cards, student and business cards, auto loans, and more from the most reputable companies in the industry. You can also compare multiple credit card offers, securely complete an online credit card application, and receive a credit decision in less than 60 seconds. Visit David's site today: http://www.iCreditOnline.com

How to Avoid Credit Card late Fees

2005-01-07T18:12:00.000-08:00

How to Avoid Credit Card Late Fees by: Daryl Flagg

Everyone hates late fees and being late will cost you dearly these days. For some credit cards today, if you are late, you will have to shell out as much as $40 each time. This can put a nice sized hole in your pocket really quick.

Below, I will provide you with some tips and strategies on how to steer clear of those monstrous late fees. This will not only save you a lot of money in the long run, but it will also keep those money-hungry credit card companies, I won’t mention any names, from getting your hard earned money.

Just pay your bill. One of the easiest ways of avoiding a late fee is to just pay your bill each and every month by sending in a check, money order, or other type of payment to your respective credit card issuer. Just make sure you follow the numerous guidelines, which are usually outlined on the back of each credit card bill, on how to send in your payment. These guidelines must be followed precisely if you want to guarantee that your payment will go through on time.

Payment guidelines may include everything from a specific payment address to the time of day by which the payment must be received to be credited that day. Many issuers also stipulate that payments must arrive in the preprinted envelope sent to the customer.
While the Fair Credit Billing Act requires issuers to credit payments the day they are received, each issuer is allowed to set specific payment guidelines. If any of the guidelines are not met, the issuer can take as many as five days to credit the payment.

An on-time payment could easily become late during that five-day period, so follow those payment guidelines carefully.

Just skip the payment. One of the more rare types of methods you hear of are Skip-A-Payment services. You can use these services to skip mortgage, credit card, or loan payments. Usually you would need to get in contact with your bank just to see if you even qualify or not. There are also independent companies out there that will allow you to do the same thing, no matter what bank you are a member of. Depending on whose service you use, the fee’s associated with it vary. When you use these types of services make sure you know how much you will be charged then decide if it’s worth it or not.

Pay minimum due immediately. One of the best ways to prevent a late fee from being charged to your account is to pay the minimum due immediately. As soon as you receive your bill, send in the minimum due. This will always insure that your credit card issuer received payment. You can always send in more money later if you decide otherwise. This is a great way to avoid missing a payment because if you forget to send extra money you can guarantee that you won’t be charged a late fee because the minimum due has been already been paid.
Move your due date. Are your credit card bills due at a time of the month when you're running low on cash? Many people have trouble saving money, so when it comes time to paying their credit card bills, they don’t have any cash to do so. One particular solution is to move your due date. Many credit card issuers will allow you to set your own due date to meet your specific needs. If you have trouble saving money, move your due date to a time when you do have money, like as soon as you get your paycheck. If you time your credit card bill to come the same day you get paid, you will always have cash to pay the bill.

Pay by phone. If you are one of those people that wait to the last minute to do everything or if you just forgot to send in your credit card payment early enough, you could always pay by phone. This guarantees that your payment will be on time. Just supply the representative on the other line with your checking account number and your bank routing number, which is printed at the bottom of each check. Usually the routing number is first and the account number is second. A lot of issuers allow you to pay by phone and some will charge you a pretty penny for doing so. Fee’s can range from $5 to $20.

Use other express methods. If your bank does not offer a “pay by phone” service and you need to get your payment to your credit card issuer as soon as possible, I recommend either sending your payment in by express mail or by Western Union. Either one of these services can get your payment to your credit card issuer immediately. These express methods are costly, but it will always most likely be cheaper than any fees associated with being late. Make sure you send your express payment to the proper address. Many issuers have separate payment addresses for express payments. The last thing you want to do is slow the processing of an express payment by sending it to the wrong address.

About The Author
Daryl Flagg is the founder and CEO of Next Month Online. Next Month Online is a service that allows its visitors to skip credit card payments. They can be found at http://www.NextMonthOnline.com. Sign up for free!
info@NextMonthOnline.com

Handling Debt in 2005

2005-01-07T18:05:00.000-08:00

Handling Debt in 2005 by: Paulson Lopedro

Debt is a problem that is ever increasing in our society today. Offers for credit cards coming in the mail is happening more and more often, interest rates are appearing low, and borrowing money seems like the “smart” thing to do at times. However, it seems that going into debt is not that good of an idea after all, and now many people are stressed to get out of debt.
Are you caught in debt yourself? Fortunately, there are steps that you can take to get yourself out of debt.

1. Make lists. Figure out what you own, and figure out what you owe. Take what you owe, and put the major debts at the top of the list. Paying off those debts first will reduce the amount of interest that you are charged. Once that is paid off, you can then move on to the next item on the list, and so on.

2. Do away with all credit cards. There are no buts, simply get rid of them. Do not roll over balances, ever. Pay them off and get rid of them. Call the credit card companies and tell them to close up the accounts.

3. Make a spending plan or a financial plan if you will. Getting out of debt is as important as staying out of debt, and that requires a financial plan that will allow you to live within your income. Also, it is not enough to simply make a financial plan. Sticking to it is the only way this can prove beneficial.

4. Watch your home’s equity. It does not have equity for the sole purpose of purchasing new furniture and going out to dinner a few times. Be intelligent and don’t misuse this.

5. Don’t be scared to get assistance if you require it. Many people simply cannot manage their expenses. The best thing to do if you are in this condition is to recognize the problem if it exists, hold yourself responsible, and ask others for help if it is needed.

Doing these things should help several people be on the right track to get out of debt. Debt can be a frightening and risky thing, it is just imperative to be wise and to handle things well. Americans are overwhelmed with almost a half of a trillion dollars of debt, with half of them passing off debt from one credit card to another, simply to keep away from ever having to pay it off. Don’t be a statistic, manage your finances and spend intelligently.

About The Author
Paulson Lopedro is the Webmaster of FindDebt.com.
You can read more of his work at http://www.finddebt.com.

Want more Money? Live below your means

2005-01-06T14:29:00.000-08:00

Want more Money? Live below your means The Cincinnati Post

This article states that if you need more money you have two choices. You can increase your income or you can reduce your spending. It goes on to state that you benefit more by reducing your spending. It's instantaneous, reduces stress, and you will be more content.

By reducing your spending you are changing your old habits of overspending and incurring too much debt.

Seven steps to financial fitness

2005-01-06T14:28:00.000-08:00

Seven steps to financial fitness csmonitor.com

If you can follow these Seven Steps to Financial Fitness you will be on your way to a more profitable year. Stick to your budget is my favorite step.

I believe that if you set up a reasonable budget and you follow it you will at least not cause any more financial damage. Meaning you will not add to your debt. Then you can try to use any money left to pay down your debt or add it to savings.

Financial Regret? Step Up to a Debt Reduction Challenge in 2005

2005-01-03T15:34:00.000-08:00

Financial Regret? Step Up to a Debt Reduction Challenge in 2005

One of the steps to successful money management is to manage the debt you have accumulated from the money you have already spent. The interest on this debt is like having a hole in your pocket. You are just throwing this money away. Think how much better off you would be if you could save it and invest it instead of giving it to someone else.

By paying off this debt you are actually saving money. Once your debt has been paid off you can really start to invest and bring yourself closer to Financial Freedom.

Money Management Rules for Career Starters

2005-01-02T14:32:00.000-08:00

Contributors - Inside INdiana Business with Gerry Dick

Gerry Dick describes the philosophy that I believe in. The rules set forth in the article are basis for attaining wealth. This is not a get rich quick lifestyle but if you follow these rules they will lead you to a debt free lifestyle and hopefully financial freedom at an early age.

MSN Money - The Basics Fine-tuning a winning ETF portfolio for '05

2005-01-02T13:51:00.000-08:00

MSN Money - The Basics Fine-tuning a winning ETF portfolio for '05

Tim Middleton (MSN Money) tweaks his ETF portfolio for 2005.

The model portfolio of exchange-traded funds he launched a year ago is finishing 2004 with a gain of 11%, handily beating its benchmark of stocks and bonds, as well as the market itself. Its benchmark was the Vanguard Balanced Fund which finished the year up 9.1%.

See what changes he is making for the new year.

Money Management Tips - Welcome

2005-01-02T08:57:00.000-08:00

Welcome to the Money Management Tips Blog. The purpose of this blog is to provide a central place to to find information on how to management your money.

The plan is to collect information on how to eliminate debt, live happily within your means, and learn to save and invest wisely.

The desired result is to achieve Financial Freedom.

I hope you will find this information useful and I welcome your comments.