Dave Barry On Income Tax Season

March 6, 2009

“It’s income tax time again, Americans: time to gather up those receipts, get out those tax forms, sharpen up that pencil, and stab yourself in the aorta.” — Dave Barry

Read the full article →

Details on the New Foreclosure Prevention Program

March 5, 2009

The Obama administration announced details of its new foreclosure prevention program yesterday. Interest rates on loans could drop to as low as 2% for some borrowers. The cost to tax payers is expected to be approximately $75 billion. Under previous programs by the Bush administration, lenders were urged to voluntarily modify mortgages. Even though a […]

Read the full article →

5,433 Bankruptcies Per Day in February 2009

March 5, 2009

Creditslips.org reports that there were over 103,000 bankruptcies filed in February 2009. Spread over the 19 business days of February, the filing rate is 5,433 filings per day. The figure is a 22.0% jump over the January 2009 filing rate, although the better comparison is to the November 2008 filing rate because bankruptcy rates typically […]

Read the full article →

Watch Out For Economic Stimulus Scams

March 4, 2009

If you use Facebook, or many other high-traffic sites, you may have noticed advertisements for “grant kits” which promise to give you the inside track on getting money from the government. The scam is this: you purchase the kit for the cost of shipping, then if you don’t return it within 14 days; you start […]

Read the full article →

Drive One, Pay for Two

February 19, 2009

Creditslips.org has nice article on dealing with another bubble that inflated during the times of easy credit: negative automobile equity. The article states that as much as 25% of all automobile borrowers are “under water.” Here’s how that works: The value of the trade-in is $8000; balance on the loan for that trade-in is $10,000. […]

Read the full article →

Writing Personal Finance Essays Earns Student $3,000!

February 18, 2009

Jonathan Schultz, an 18 year old senior at St. Mary High School in Dell Rapids, South Dakota, won a $3,000 prize for a series of essays he wrote for a financial literacy contest. Contestants were required to write essays that involved creating financial independence by understanding investing principles. Shultz’s teacher received a $300 prize of […]

Read the full article →

Mortgage Rates At Record Lows

January 1, 2009

30 year fixed rate mortgages finished the year at 5.14%. This is the lowest rate since record keeping began in 1964.

Read the full article →

Jeffrey Saut Sees Markets Bottoming

December 30, 2008

I all ways find the market opinions of Raymond James’ Jeffrey Saut enlightning and fascinating.  In his latest Investment Strategy note he quotes the views of Barron’s Stephanie Pomboy and then gives some stock tips: In past missives we have suggested that the equity markets have been in a bottoming process since the October 10th […]

Read the full article →

Gasoline Near Five Year Low

December 30, 2008

According to a  AAA survey, gasoline now costs $1.619 per gallon.  This is the lowest level since January 2004 when gasoline averaged $1.617 per gallon. Gasoline is now down $2.50 per gallon since its record high of $4.114 in July of this year. The falling price of oil is behind the drop in gasoline.  Oil […]

Read the full article →

Valuing Donation Items

December 29, 2008

We have put it off until very late in the year, but today our family is rounding up clothing and household items to donate to charity. Besides helping out with a good cause, the donation will give us a tax deduction.   Note: if your non-cash donation is greater than $500 you will be required to […]

Read the full article →