Archive for the ‘Misc’ Category
Should You Lend Money to Your In-Laws?
Posted May 21, 2009 by Bernz
Money is a sensitive issue even among family and friends. Money has ruined relationships between spouses, siblings, parents and children, and between friends. But money issues between in-laws are particularly sensitive. If this is the case for you, what can you do? Should you let your in-laws borrow money from you during difficult times? And if you decide to lend them money, can you expect it back? There are a lot of issues to consider before letting anyone borrow from you.
Even the most credit-worthy individuals can become unreliable when they borrow from family members. They might reason out that the money is between families anyway. Even with the best intentions, it is almost impossible to treat the transaction in a business-like manner when dealing with the in-laws. However, before you think that lending money to in-laws is a terrible idea, there are some points you can keep in mind. This will enable you to get repayment in an easy, efficient, and friendly manner. (more…)
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Tags: Debt, lending money, Loans
Posted in Loans, Misc | No Comments »
Just another Tax Blog Post
Posted April 8, 2009 by Bernz
Well I decided to post another tax topic this week being the last week to file income taxes for most filers. Besides tax is probably the biggest unavoidable expense everyone needs to pay every year.
Here are some really basic tips which may be beneficial to you, although some of these maybe a little too late to avail of the deductions you are entitled to.
1. File Electronically – doing this will minimize errors and help you get a refund in two weeks. The tax- preparer are most likely filing e-files but you can do this yourself. The IRS has already partnered with preparers in order to provide free tax preparation and e-filing on the internet.
2. Child Tax Credit – parents can save a certain amount in taxes by having dependents. However, it is important to note that there are technical definitions about what constitutes as a “child”. In addition, if you are hiring someone to watch over a child under the age of 13, you can quality for child tax credit as well. (more…)
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Tags: income tax, income tax software, irs
Posted in Financial Education, Misc, Tax Reduction | No Comments »
Dealing With Collection Agencies
Posted April 3, 2009 by Bernz
No one likes to get a call from a collection agency. It’s their job to get you to pay back money you owe to a creditor at a time when you may not have the money to do so. But ignoring calls from a collection agency is never in your best interests. They have a legal right to collect the debt on behalf of their clients and not complying can be used against you in any future legal proceeding.
However, you do have rights when it comes to dealing with debt collectors. Under the federal Fair Debt Collection Practices Act (FDCPA), collection agencies cannot legally do the following:
• Call you at unreasonable times (before 8 am or after 9 pm)
• Pretend to be someone other than a debt collector
• Use abusive language or threaten you with legal action
• Add on additional charges to the debt other than interest stated in the original contract
• Call your workplace if your employer forbids it
• Discuss your debt with third parties who are not directly connected as co-debtors
If any of these practices are happening, you can demand in writing that the collector stop contacting you except to let you know that collection efforts have ceased or that the case is going to trial. Remember, however, that not hearing from a collection agency doesn’t mean that you don’t still owe the debt. You can also file a complaint with the Federal Trade Commission. (more…)
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Tags: collection agency, personal finance, recession
Posted in Financial Education, Loans, Misc | 1 Comment »
Would You Like to Trim Your Utility Bills?
Posted April 1, 2009 by Bernz
Everyone knows that not turning off the lights, fans, and televisions, and other utilities can put a dent on your pocket. In today’s economic downturn where lay-offs and unemployment are the norm, it is important to cut your bills where you can and save money. Aside from the obvious money-saving techniques you can put into practice, there are other ways to save on your utility bills. Below are some ingenuous ways that can help you save a significant amount of money every month:
Control Your Indoor Weather
Depending on your current heating system, using electricity for warmth can be eating up a big part of your utility budget. Try to look into programming thermostats to control the indoor temperature. If the residents at the house are awake, you can keep the temperature at 68 degrees. And once they are asleep, you can drop it to 55 degrees. Generally, the lower your home temperature, the more money you save. The savings can add up especially during the winter season.
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Tags: Frugality, heating bills, Saving, saving gas, Saving Money, telephone bills, utility bills
Posted in Frugality, Misc, Saving Money | No Comments »
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