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6 Ways to Save on Back-to-School Supplies and Clothes
Tweet Share on Facebook July 31, 2012 CommentAlthough it seems like summer just started, the onset of a new school year is approaching fast—and that means back-to-school shopping is right around the corner. It's easy to wait until the last minute to stock up on clothes and school supplies, but this approach will generally cost you a fortune. Instead, strategize before you shop to snag the best deals and spend less.
Here are some money-saving tips for back-to-school shopping:
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How to Prevent Your Generous Donations from Inviting Endless Spam
Tweet Share on Facebook July 30, 2012 CommentDespite the inadequate savings account funds belonging to millions of Americans in this slow economy, many still find solace in their ability to donate toward a cause they feel strongly about. What new donors may quickly come to realize, however, is that their act of kindness could leave them vulnerable to unwanted solicitations from the very causes they intended to support.
The Charity Navigator, a website that rates charity organizations, shared that the total giving to charitable organizations in 2011 was at $298.42 billion, an increase of 4 percent compared to 2010. Of that amount, 73 percent came directly from individual donors.
With so many Americans willing to donate to the millions of support groups soliciting for funds, it's imperative donors read between the lines—or, in my experience, the fine print. When I submitted my name and e-mail address for an entry to win a chance to meet President Barack Obama, little did I know I was unknowingly entertaining spam e-mail.
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Is the Middle Class Safe From Tax Increases?
Tweet Share on Facebook July 27, 2012 CommentWe’ve heard a lot about taxing the rich during this election year. Implicit in this battle cry is that the middle class will be insulated from any pecuniary pain. The Senate has already voted to extend the Bush tax cuts for the middle class, a maneuver that is sure to fail in the House because it doesn’t cover the top two tax brackets. Nevertheless, politicians seeking election are going the extra mile to convince the vote-heavy middle class that they will not need to sacrifice as our country struggles to address a bevy of fiscal challenges.
Let’s cut to the chase—it’s a lie. The inconvenient truth, to borrow an expression, is that the middle class will be called upon to address everything from our deficit and debt, to the unsustainable path of social security and Medicare. Whether in the form of higher taxes, reduced entitlement benefits, or both, the middle class will pay.
Here’s why:
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4 Reasons Not to Bank with Facebook
Tweet Share on Facebook July 27, 2012 CommentRecently, some overseas banks have partnered with Facebook to leverage the social network’s website as an easy-access portal to online banking. First National Bank of South Africa and ASB Bank, based in New Zealand, have both recently launched partnerships with the social network. The Commonwealth Bank of Australia is planning on doing the same.
One often-cited benefit of these arrangements is that peer-to-peer, or P2P payments, can easily take place over the network, between Facebook friends. While that’s interesting, there are other considerations you might want to keep in mind before making Facebook and your bank virtually indistinguishable from one another.
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Don’t Pay Off Your Mortgage if This Describes You
Tweet Share on Facebook July 26, 2012 CommentMany personal finance experts extoll the virtue of being mortgage-free. I agree that, for many people, paying off the mortgage is a great move. While it may not always maximize your return on investment, the payoff of having no more mortgage can be substantial. Chief among those benefits is peace of mind. It’s hard to put a price tag on that. And this is why so many of us want to pay off our mortgage as soon as possible
Having said that, there are three instances where paying off a mortgage is the worst mistake a person could make. Let’s go through these one by one:
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How the Drought Will Affect Consumers (and What You Can Do About It)
Tweet Share on Facebook July 26, 2012 CommentAccording to experts, the drought hitting the U.S. this year is the worst since the 1950s. More than 60 percent of the country is experiencing drought conditions. And, while the brunt of the damage will be borne by farmers, all consumers will be affected.
Corn-growing areas have been hit especially hard. The result is that corn prices are at an all-time high, around $8 per bushel. Soybean products are also reaching high prices.
Consumers will be affected in three ways: at the grocery store, at the gas pump, and in their electric bills.
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How Much Will You Need to Send Your Child to College in 2030?
Tweet Share on Facebook July 25, 2012 CommentWhen it comes to children and finances, what is every parent’s goal? It’s to raise young adults that can become financially independent. Unfortunately, surveys have shown low success rates. Only 23 percent of 20-somethings consider themselves financially independent, according to a survey by PNC. One of the largest barriers to achieving independence is the rising costs of college tuition.
According to the US Department of Education, the average cost of a year at public school is $15,100 and $32,900 for private institutions. Those costs are more than outpacing inflation and wage growth. Today, there is more outstanding student loan debt than credit card debt. More than 11 percent of graduates have racked up more than $50,000 in student loans, according to a 2009 survey by Sallie Mae.
If you are the parent of a young child, it’s only going to be worse by the time your child is ready to enroll in college.
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Top Deals to Earn Back Airline Miles
Tweet Share on Facebook July 25, 2012 CommentSummer travel often means chewing through hard-won airline miles. Returning from far-flung destinations can mean already plotting a return trip or thinking of the next locale on the list, and after the thrill of vacation is over, travelers may be looking for quick ways to earn those airline miles back.
Fortunately, smart consumers can find good deals readily available online through airline carriers’ shopping programs. Online purchases, made through the airline’s own online shopping portal, garner significantly more bonus miles than shopping in-store. For example, American Airlines offers one bonus mile per dollar spent at a brick-and-mortar Sunglass Hut store when you use a credit card registered with the airline, but six bonus miles per dollar when shopping online through the AAdvantage shopping portal.
With such lucrative deals on bonus miles floating around, we’ve decided to highlight a few that will help smart shoppers recoup some of their spent airline miles.
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6 Ways to Save on Home Energy in the Heat of Summer
Tweet Share on Facebook July 24, 2012 CommentSummer is upon us, and while I'm sure we all hope for mild weather, chances are that your home energy costs may be rising—especially if you live in an area of the country affected by the recent heat wave. However, it's always a great idea to save money any way you can. So even if your energy costs aren't skyrocketing, consider the following ideas to make your electric bills more manageable this summer:
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5 Smart Credit Moves for College Students
Tweet Share on Facebook July 23, 2012 CommentYears ago, when I first started college, I signed up for a Citi credit card because it offered 1 percent rewards, no annual fee, and a few other small perks I never used and can't even remember. I was a freshman in college and I foolishly signed up at a table outside my student union. I was fortunate in that I was able to get the card and start building my credit history as early as possible, when I was 18, and that it wasn't an identity theft scam! Years later, looking back, I realized how careless I was even though everything turned out fine.
It's scary how important your credit is these days. Once relegated to just loans and other credit instruments, your credit score is used by everyone from landlords to cell phone providers to insurance companies. Luckily, the best time to start building your credit is while you're still in school. Here are a few smart credit moves students can make to help build their credit:
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