Reports

We all know millionaires know how to make money. I've always wanted to know why most people don't become millionaires or don't succeed when it comes to simply having enough money to lead a stress-free and independent life.

Here are five key lessons I've learned so far from those who fail becoming millionaires:

Facebook has announced major changes in the way it allows you to handle privacy decisions—and the changes are good. It's easier to make sure you control who sees your private information, not Facebook. But here's the rub…

Want to comment to the Federal Trade Commission on possible revisions to the FTC's Children's Online Privacy Protection Rule (COPPA rule)? Read more about the review here. Find comment form here.

May 2010

In the spring, a homeowner’s thoughts turn naturally to home improvement. As sure as the flowers bloom, however, the thoughts of home improvement service providers—the good, the not-so-good, and the scamsters—turn to selling their services and wares to homeowners. How do you get the improvements you plan done right and at the right price? No matter the type and size of your project, from a “simple” paint job or roof repair to a home expansion, knowing how to define your project, find the appropriate financing if necessary, and locate and evaluate the appropriate products and contractors is a must. This report covers those basics step by step.

First, research your project and budget

What’s the scope of your project? The more you know about what your specific home improvement project entails, the more ably you can evaluate appropriate products and proposed services. This tip holds true for something as “simple” as interior painting or re-carpeting all the way to planning an extensive remodel or expansion to your home.

Colleges and graduate schools can be backbreaking when it comes to money. Why not get creative with ways to save more money and lessen that backbreaking load?

1. Hang out with people who are careful with their money. Cutting your spending is easier when the crowd you run with is trying to do the same thing.


2. Make one day a week a “spending-free day”. This sounds weird, but it will give you courage, and isn’t as hard as you think.
   
   
   • Make sandwiches for lunch and break out the Noodle packs for dinner. Invite friends for dinner, but tell them to bring their own eats.
   
   
   • Find a free way to get around. Use a bike, or bum a ride. But spend no money on transportation.



 

Looking to buy a home? The deadline for qualifying for the first-time and existing owner homebuyer tax credit is April 30, 2010. This IRS page has more details.

Will the changes to the federal student loan program benefit you?

April 2010

How busy are you? Very! Isn’t that right? Most of our “to do” lists are a mile long. How would you like to save time on some repetitive financial chores while increasing security and benefits? Most people have online access to their financial accounts, but many are not taking full advantage of some major benefits offered, such as direct deposit, electronic bill pay, and even “paperless” statements. Take a moment to see how these services might work for you.

Take advantage of direct deposit

If you’re not using direct deposit, then you’re missing out on some important benefits. With direct deposit, your paycheck, social security check, retirement check, or any other recurring check is electronically deposited into your account. You don’t have to wait for the check to come in the mail or go to the credit union to deposit it. There’s no worry that the check might get lost in the mail or stolen from your mailbox. You also get your money faster. With direct deposit, the funds are typically available the day the deposit is made.

Think Outside The Box!

The summer of 2010 can be a tough summer to find a part-time job, if you’re still in school: plenty of college graduates can’t find work. Many businesses—even those that normally hire people in the summer—have cut back their staffs. And plenty of adults with years of work experience are out there pounding the pavement, too.

So, what can you do? Be creative, and be brave—that’s what! And be quick. April is nearly too late to pin down a job in many fields.

March 2010

Tax time has rolled around again. Wouldn’t you like to save all you can? Some of the many changes to the federal tax code in 2009 might help you save on your taxes. Various tax deductions and tax credits are new, extended, or expanded. This month’s report takes a brief look at some of those tax deductions and credits.

Tax Deductions/Credits Available if You File Form 1040, 1040A, or 1040EZ

No matter which 1040 form you file, make sure you consider these deductions and credits.

Scammers are taking advantage of the 2010 Census which has begun.

Looking for information on the Toyota issues? Check out this one stop resource from The Center for Auto Safety.

Don't be a tax-time phishing victim

Watch Out for These Tricks!

Been thinking about a new credit card? Think all credit cards are alike? If you think that, good luck. You’re going to need it!

A lot of credit card companies will tell you that new regulations just put in place make it easy for you to get the right card—and make it harder for companies to push you to get a credit card when you shouldn’t get one.

For instance: