Rescuing Your Business During a Recession

At a time when companies are closing down, longtime employees are being laid off, unemployed people are struggling to create their own opportunities, and the market is uncertain, either you struggle to stay afloat or you rise above. Falling down to your business’ demise should never be an option. Read more

ROTH IRA: Why Convert

It’s a given that unlike the traditional Individual Retirement Fund (IRA), contributions to a ROTH IRA are not tax-deductible. In addition, despite the fact that you cannot have a tax-free withdrawal from your principal – unless the account has been existing for 5 years and that tax is applied for earnings withdrawn before reaching the age 59 ½ – there are fewer withdrawal requirements on ROTH IRA over a traditional IRA. Read more

Dentalplans.com – A Good Alternative to Dental Insurance

Because we value our healthy and beautiful smiles, we only want the best dental plan or insurance policy for us. A little browsing over the Internet led me to countless options, most of which seem closely similar to each other. After a period of information overload, I became confused and exhausted until I stumbled upon DentalPlans.com. Read more

Home Equity Loans 101

Homeowners looking to borrow a large sum of money may find a home equity loan to be an attractive option. These loans are typically used to fund a major home renovation, college education, consolidate high interest debts or pay off medical bills.

A home equity loan allows a homeowner to borrow money using the equity in their home as collateral. The equity consists of whatever funds were invested in the home at the time of purchase, principal from mortgage payments, improvements done to the house and any appreciation of the house value since purchase. Read more

What’s the Worth of Your Student Financial Aid?

Many students go to college thinking that as they are awarded a certain financial aid package by a chosen school or university, they are financially set throughout college. In fact, just because a school offered them the most financial aid, they think that it’s the best offer available.

So don’t take the first financial aid package you are offered, as there are a number of things to consider before finally choosing one. Falling into such mistake could still cost a student or parents a difference of thousands of dollars over the course of their college career. The following are simple steps to help a student decide on a college financial aid package. Read more

Guide to Worry-Free College Finances

The road to college has always been filled with thorn-like dilemmas for many high school seniors and their parents. There are the questions on what college to attend, what major to pick, but most importantly, how much of a college education they can actually afford. Some may even wonder is college even necessary?

In recent years, college costs are rising at a pace much faster than the nation’s overall inflation rate. Because many colleges are seeing a decrease in student enrollment, they are willing to inject more options in the financial arrangement between them and the student. This is a great opportunity for anyone who wants to finish a degree but is limited by the family’s meager financial resources. Read more

Stretch Your Nest Egg

The global economic unpredictability has made planning for retirement a rather complex job for a growing number of Americans. As financial crisis forced a string of giant corporations to fold, it has become clear that people cannot rely solely on company pension for financial independence. Moreover, with the advancement in technology, more and more people are living longer than expected that the need to stretch the nest is inevitable. Below are 5 ways to make the most out of your nest egg and help you achieve your retirement goals. Read more

Top 5 Work at Home Scams

The offers cram your in box “Work from Home: Rebate Processors Needed” or “Earn $50,000+ Processing Medical Claims from Home.” The offers sound tempting, maybe you’re tired of the 9 to 5 rat race or you’ve been unemployed for 6 months and getting desperate. Maybe you even posted a resume on Monster.com or CareerBuilder.com and had a work at home opportunity sent to you. But are they legit? No, chances are they are a scam whether the offer comes as spam in your inbox or comes from a career site like HotJobs.com. Here is our list of Top 5 work at home scams to avoid. Read more

Top 5 Smartest Ways to Use Your Tax Refund

 The average tax refund in 2008 was $2429 with predications the average 2009 refund will be higher.  We could all use the extra cash in these tough economic times to pay off our debt and save as much as we can, but what is the best way to use your surprise windfall in our cash-strapped economy?  Read our top 5 tips and find out.

Save, Save, Save

With the world economy locked in a recession and unemployment at a 25 year high, your best bet is to save it.  In good times, financial experts were advising a cash reserve of 3-6 months of living expenses, but since it is taking the average job seeker longer to find a job, a cushion of 6 to 9 months is now recommended.   Living pay check to pay check is especially dangerous these days since the credit market has dried up even for people with good credit.  Stop all frivolous spending and place your refund and extra monthly income in an easily accessible account like an FDIC-insured money market account.

Pay Off Credit Card Debt

If you are carrying any high-interest credit card debt pay it down or pay it off with your tax refund.  Start with your highest percentage cards (usually department stores which charge a mammoth 22% or higher) and work your way down.  Confused on whether you should pay off debt or build up a cash reserve?  Financial advisors recommend any card charging more than 10% interest needs to be paid off first before starting on your emergency fund.

Invest

Stocks are slowly starting to climb after their 40% nose dive last year and now is the time to take advantage of their low prices.  If you have no credit card debt, a good emergency fund, and money you won’t need to touch for at least 5 years then look at getting into the market.  There are many different theories on investing but a basic starting point is buying an index fund.  It protects you from volatility and gives you diversification at a low cost. Remember you don’t need tens of thousands of dollars to invest.  Even starting with a few hundred dollars can reap a big reward over time, but you have to start somewhere.

Refinance Your Mortgage

With 30-year mortgage rates hovering below 5% this spring, it may be a good move to use you tax refund to pay for part or all of your closing costs and refinance.  To make it worth your while, make sure you’re able to knock off at least 1 percentage point. You’ll also need to have a bit of home equity and a good credit score (720 or higher) to qualify for the lowest rate. Anyone with an adjustable-rate mortgage (ARM) should definitely try to switch to a fixed rate mortgage.

Invest in Yourself

Polishing up interviewing skills, learning a new computer program or meeting with a career coach maybe a good investment of your tax refund if you are currently job hunting or think you will be soon.  With high unemployment rates, job competition is fierce so standing out from the crowd with a top-notch resume or sharp interview skills means you’ll land a job faster.

Store Credit Cards: Must-Haves???

You are dying to get those hip knee-high boots and adorable pair of Jimmy Choo sling backs but are unsure if you can afford them.  You are thinking:  Do I buy now or do I wait for a bargain?  While you are mulling over this decision, a sales assistant approaches you and cheerfully informs you that you’re entitled to a 10% discount if you sign-up for their versatile credit card.  The application takes only minutes.

Should you or shouldn’t you? Read more

« Previous Page — Next Page »