The economic fallout from the national credit crisis and recession has been hitting personal finances hard in recent months. Many consumers are facing tightened credit availability as they seek a mortgage or car loan. Credit card companies have been lowering credit limits and closing accounts at record levels, even for customers with good credit, in an effort to recover from past losses and reduce future risk exposure. Meanwhile, layoffs continue and our collective sense of job security is lower. Even though some recent economic indicators have been positive, economic recovery is still a way off. Smart consumers know that protecting their credit and credit score in this uncertain climate is very important. In this report, we’ll look at some expert recommendations for achieving that goal.
Today’s recession has made for a tight job market. In addition, high unemployment rates add more pressure. This stressed climate in the job market attracts scams and fraudsters seeking to take advantage of people anxious to land a job. Because so many job search activities have moved online, many of the scams also come to you online. This month’s report describes some of the most popular frauds and offers tips to help you avoid these traps.
Used wisely, credit cards enable consumers to manage cash flow and leverage their overall buying power. Today’s tough economic times, however, have put pressures on financial institutions, businesses, and individual consumers. These pressures have given rise to ongoing changes in credit card account terms and rates being made by a number of card issuers. Such changes may in turn increase financial pressures on many card holders. Cash-strapped consumers squeezed by higher costs or employment woes may be tempted to bridge cash shortfalls by charging expenditures, even for necessities such as food and gasoline. The resulting cycle of increased debt can be down right dangerous to personal financial stability. This report provides some strategies for using credit cards wisely in today’s tough economic circumstances.
Saving money is a top priority for most people these days. Yet, most of us also want to do our best for the environment. Taking steps that help you go greener at home and also save money is a win–win goal. So in this report, my team and I have pulled together a variety of easy, practical tips. Add at least one new green, money-saving practice each week, and over time your wallet and the planet will say thank you!
Lighting. Incandescent light bulbs lose about 90% of the electricity they use as heat. Replacing incandescent bulbs with compact fluorescent light (CFL) and LED bulbs can reduce your electricity bill. Even though CFL and LED bulbs are more expensive than incandescent bulbs, they are more efficient and last longer. To avoid problems, however, you must choose the correct bulb for an application because CFLs and LED lights can burn out quickly when used in the wrong place. For example, a regular CFL “coil” light placed in a can light or an enclosed fixture typically will burn out rather quickly—a waste of your money. Excessive heat can also cause LED lights to burn out. Learn more about CFL and LED lighting at the energystar.gov site.
The news headlines have been telling the bad news for months: financial crisis, job losses, recession, and record foreclosures. Millions of people have been affected financially by the current economic conditions. If you are facing debt or credit difficulties, how you handle matters to resolve the issues can make a big difference. This month's report provides some tips to help.
If you are facing difficulties, take prompt action.
At the first sign of financial difficulties, you should take immediate steps to get on the path to financial recovery. The earlier you start, the more options you have.
Are you tempted to refinance with interest rates at historic lows? Or are your loan payments stretching your budget? How do you know if refinancing is right for you? This month's report looks at reasons why now may be a good time to refinance your mortgage or other loans.
Is refinancing right for your circumstances?
Is your loan’s interest rate higher than current loan rates? Do you have equity in your house or property (that means, do you owe less than the current value of your property)? Are you current on your loan payments? If you can answer yes to these questions, then you may wish to consider refinancing.
Have you fallen behind in making your mortgage payments? Are you having financial difficulties in other ways, perhaps in paying other bills or loans? If you answer yes to either of these questions, then conventional refinancing may not be the best option for you. If you are not already discussing your problem with your lender, the time to do that is now. Some lenders may consider loan modifications as one option to help delinquent and struggling borrowers. If your loan is with CCU, they encourage you to call right away. CCU’s Member Assistance program offers assistance to help members find the best options based on their individual circumstances.
Census Forms will soon be appearing in mailboxes. Check out the Census 2010 site for answers to questions, how the process works, and why the census is taken every 10 years.
1040 Central Check out this section of the IRS website for tax law changes, tax fraud alerts, first-time homeowners credit, frequently asked questions, and much more.
Track down the best tax preparer Looking for someone to prepare your taxes, then this article gives you tips on how to find the best one for your situation.
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