In the past, students were besieged with credit card offers a few years before graduation. The cards proved too tempting to most college students who weren’t informed enough to use them responsibly, leading to a significant debt burden upon graduation. Whether that situation was a problem of poor financial management on the part of the student or aggressive credit card tactics that targeted a vulnerable demographic, changes have now been made. While much of what is happening is good news, other people fear it can lead to an increase in other types of loans amongst college aged students, most notably payday loans.

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Conservation of earth’s resources is good stewardship and makes great financial sense. It can be very costly to change from electricity to solar, but it’s not that hard to cut some of your dependence on the Water Company. Right now, there are even rebates available for people who want to reduce their water usage, cut their water bill, and make their home a greener place. Read on for the top 5 ways to cut living expenses by focusing on your water resources.

1. Replace Your Showerheads

Old showerheads can use up as much as 5 gallons of water a minute. Newer, low-flow showerheads are rated at 2 gpm or less. That’s cutting your usage in half, without even reducing the number of showers you take. A good low-flow showerhead can range from $15 to $30, and many can be installed on your own. If you want to be sure not to damage other piping as you twist and turn the showerhead to secure it, hire a plumber to finish the job.

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It may come as a surprise, but dental care is not a part of the Medicare program. Along with the elderly, people who have lost employee-sponsored dental plans through the loss of a job may have to face dental costs on their own too. If your budget is tight but the cavity in your tooth is killing you, you may be wondering what some low cost options are to get your dental needs done. Here are a few strategies for people who are looking for some temporary or permanent fixes to their dental woes.

For Immediate Emergencies

If you have no cash, but the dental emergency can’t wait, you can always resort to getting check advance loans that will allow you to float the coast until your next pay period. If you’re employed, but don’t have a dental plan, you can opt to put monies aside for dental and medical emergencies through your flexible spending account. Just use all of it before the year’s end, so that you don’t lose it. For Medicare recipients, some emergency dental care is provided as long as it is required for another covered procedure to take place. Thus, if you are in an accident and shatter a jaw, Medicare may cover resetting the jaw and any necessary dental work associated with that covered procedure.

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With rising mortgage rates and falling incomes, the recession has revived an interest in rooming together. When faced with foreclosure or a lack of income, renting a spare room is a quick way to make several hundred dollars extra a month. Home value predictions, 2009, showed declining prices in most markets, making the option of selling a home to downsize less likely. Yet, holding a home with an adjustable mortgage or with less income is problematic too. That’s why many people are opening their doors and taking in strangers in a bid to ride out this recession, and save their home from foreclosure, by renting out a room.

How to Advertise for A Roommate

If you’re not in college anymore, but seeking a roommate, your first question might be: “Where do I advertise?” Online bulletin boards like Craigslist are easy places to start, and they don’t cost anything to advertise. The heading is “rooms/shared” under your major city heading. Other places to advertise are in your local newspaper, and within roommate websites like Roommates.com. In some cases, you may have to pay a fee to advertise, and others will allow you a small period, like a week, to post for free.

Screen Your Potential Roommates

When you advertise, be sure to put in what you desire in a roommate. The best arrangements don’t just need your financial needs, but also take into account your chosen lifestyle. Someone who hates dogs, for instance, may not want to room with you if you have several dogs. The same is true for people who smoke, party, or even have differing religious or political viewpoints. The best match is someone who will appreciate your own lifestyle and endeavor to fit in as seamlessly as possible. The first way to attract such a roommate is to make it clear this is what you seek.

Avoid Being Scammed

Unfortunately, the ease of online communication in searching for a roommate has also led to scammers frequenting these areas, trying to scam you out of money. The paid sites, like Roommate.com, are not as open to such shenanigans, but one still has to be careful. The majority of scams are people who claim to be outside the local area and wanting to rent the room, sight unseen. This should be an immediate warning bell, as the minute they agree to send you money without even meeting you, you know they are setting you up for a scam. They will send out a bad check or money order and then renege on the arrangement, asking you to send them back good money instead.

Some unfortunate would-be renters have also been scammed when genuine advertisements and photos are hijacked and then priced significantly lower than the market price. The scammer hopes to obtain that money by eager renters so eager to score a deal, they will fail to realize they are being scammed. Sometimes, scammers have even cased a good rental, broken in, shown the home to a prospective target, and then taken off with the money. Later, the renters find out the home wasn’t even owned by the person who rented it. This is a good reason why you shouldn’t let people know when you will be home or not. Schedule all viewings only mentioning when it is most convenient to visit, not when you will not be around.

Renting A Room Takes Time

To do this right, expect to take a month or so in the screening process. There will be no-shows and obvious mismatches. Keep looking because eventually you will get someone who is a match. It’s up to you to decide whether you want to run a background or credit check, both of which can be easily done via services available through the Internet. Keep on doing screenings until you have money in your hand, because often people back out because they either find another room or they can’t come up with first and last month’s rent on time.

Get a template for a rental agreement so that your new renter knows their financial obligations and has it down in writing. Everyone should sign. Collect first and last month’s rent, so that your renter doesn’t get tempted to leave you in the lurch without proper notice. If no notice is given, you should make it clear the last month’s rent is non-refundable and only applied when a clear 30 days notice is given. This way, you will have plenty of time to locate your next roommate.

Thrifts stores have more going for them these days than just second hand clothes for sale. You can get toys, furniture and jewelry in a variety of different thrift stores. Goodwill stores even offer reconditioned computers in some areas for only $150 each. With so many people out of work or having trouble making ends meet, a trip to the thrift store can help put a little shopping fun back in their day without the guilt.

What You Can Find

More and more consumers are finding some great deals at their local thrift store. Depending on the store’s policy, you can find either costume or real gold and silver jewelry. In many cases, the jewelry was stuck into clothing by mistake and donated. Most thrift stores make it a point to notify owners when that happens, and the jewelry is returned. Otherwise, if no contact can be made and no one claims it, after a few months it is assumed to be donated and put up for sale. This gives the buying public the opportunity to buy nice jewelry pieces for far less than at retail prices.

Other great finds include antiques. You can find antique dishes and furniture, and sometimes lamps. If you’re not into antiques, people often donate brand new items, still in the box or with tags, because they simply don’t like the purchase, received it as a gift, or are unable to return it to a store. Just because it’s brand new doesn’t mean it’s priced higher. New clothes go for the same as used, and only do some household items get priced a little higher. Yet, you can still get a great deal sometimes for as little as 5 bucks.

Thrift Store Shopping Increased By 35%

Thrift store owners have reported on average a 35% increase in sales. You can blame the economy and the fact that thrift store shopping is now seen as a smart option, rather than only for those with a low-income. Even pawn shops, another place that used to be stigmatized by public opinion, have become more popular too. As people continue to look for ways to save money, thrift store shopping will continue to increase in demand for the foreseeable future.

Electricity is a modern blessing, but it can come attached to a bill. If you didn’t get a 2009 cost of living raise, you’re probably seeking out ideas on how to reduce your living expenses. Rather than seeking to detach from the grid, which can cost thousands, here are a few simple ways to lower the cost of your electric bill.

Disengage When Not In Use

This can mean shutting off the lights when you’re not in a room, or unplugging appliances. Appliances like computers, TVs, and kitchen gadgets have ghost loads that continue to draw energy when plugged in. By getting into the habit of only using items when you need them, you can reduce your electric bill. Get a surge suppressor and plug your appliances into it, then shut them all off at night with one click.

Replace Bulbs With Compact Fluorescents

These bulbs can reduce your energy usage for lights up to 75%. They last 10 times longer than regular incandescent bulbs, keeping you from replacing bulbs as often. They cost more but will end up paying for themselves in as little as six months. They come in small and large sizes, so that you can replace even modern chandelier bulbs with tiny compact fluorescents. Each bulb you replace can save you as much as $30 dollars during the lifetime use. Multiply that by the number of bulbs you replace and you can see that savings really add up.

Replace Your Refrigerator

If your refrigerator was bought in 2001, you can benefit from a newer refrigerator. Newer models are up to 40% more efficient with energy demands, as long as they are labeled “Energy Star.” It can save, on average, about $50 per year as a refrigerator accounts for 15% of your total electric bill. Even though it costs several hundred dollars to replace your refrigerator, check with your state to see what rebates are available for people upgrading their refrigerators to obtain further savings.

Weatherize Your Home

Electric heat can be expensive if your home isn’t properly insulated. It’s an easy thing to determine whether you need more insulation in the attic or the walls. Your windows should be checked for drafts and leaks. Caulk areas that need it. If you can’t replace your windows with energy efficient ones, you can always use plastic thermal window coverings during the winter to reduce the electric bill for as little as $15 for four windows.

Check Your Vents

The number of vents that are open or needed changes from winter to summer. You can shut off an entire room that is not in use in the winter, and save that energy for where it is most needed. If you don’t mind a cold bathroom or basement, shut those vents off and leave the warmth for the rest of the house. Keep vents free from obstruction from furniture and your heating system and filters clean for maximum performance.

With unemployment higher than it’s been in years and current salaries on a down-turn, it has been harder and harder for people to make ends meet in this particular economic climate. Many are losing their homes to job loss and balloon payments on adjustable rate mortgages. So many others have gotten sick or injured and have had to turn to government assistance to get by. Most people think that Americans are greedy and only care about themselves, but there are good Samaritans out there who genuinely want to help others and will offer assistance when available. People like Bill Gates are in good economic shape and give millions away to charities across the world, but we don’t necessarily see many normal, average people helping others financially. In many instances, helping others is just not possible, but some do manage to pull it off without much fanfare.

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The old quote, “Nothing is certain but death and taxes” is especially true of property taxes. Apparently, some towns in the United States continue to show rising property taxes, even when homeowners are struggling with a recession and the average house price in 2009 has decreased. Yet, there are mechanisms in place that make hiking property taxes appealing for local governments, when other forms of revenue are unavailable.

Continue Reading Why Property Taxes Can Rise In A Recession »

Even with new anti counterfeit measures put in place for U.S. legal tender, there’s always some enterprising criminal trying to cheat the system. Instead of copying an already established currency note, which might be hard to duplicate correctly, why not just create a new one? That must have been the thought behind a Lebanese man’s attempt to create new denominations for the United States dollar, ranging from $500 notes, a $100,000 note, and finally a $1 million dollar note. None of these currency note values are actually still within wide circulation, as the highest note currently in circulation is only $100.

Or, the man might have done some poor research and discovered that, in fact, there were denominations of $500 and $100,000 U.S. bills in existence. He just may have gotten the dates of their issue and circulation wrong. The last time $500 notes were printed legally was in 1945, and they there are few within mainstream circulation. There was also a special edition $100,000 note, created in 1924, but it is not in circulation either, making it very easy to spot an obvious fake for anyone in the financial industry.

Regardless, the enterprising criminal might have gotten away with the scheme except that his first act was to tip hotel staff in Kuala Lumpur, where he was staying, with a fake $500 note. The recipient of the note tried to exchange the note at a local moneychanger and was then informed that the bill was a fake. Malaysian police arrested the man who might face up to 10 years in jail. When they searched the man’s room, police found over $66 million dollars of counterfeit bills with the same denominations. The man already has a prior arrest record in connection with fraud over the sale of office supplies in 2005.

As tax season begins, many are starting to feel the pressure and stress of filing. Every year, it seems like tax rules that we use to determine our tax liabilities on our current salaries gets harder and harder to decipher. Luckily, the I.R.S, or Internal Revenue Service, is available to answer any and all of your questions. They do realize that it can be a burden on regular folk and are available to answer questions, but many professionals agree that obtaining a good tax representative is the best way to get through each tax season. These experts are trained on the tax code and any new items that arise every year. If you simply work and have no investments and rent your home, you may be able to do your own taxes, but there are situations where you may have to file 5 or more forms and this is where an expert can really be worth the expense.
Some of the more common questions involve things that most of never really think about. When we die, who pays our taxes? Usually the estate, but it is always best to contact the I.R.S. about certain circumstances that we do not understand. Also, most people have questions regarding past due balances and how they affect their upcoming refunds. If you owe back-taxes or are on a payment plan, the I.R.S. will apply any new refunds to the amount owed. If you are planning something with ytour refund money, be wary of this as you may never see any of it if you still owe from years past. The I.R.S. is flexible and you can either file for a 6 month extension to save up to pay your liability. Payment plans are also available to those who cannot afford their tax debt. They have flexible payment terms and will give you ample time to pay them what you owe.
There are many circumstances where you should consult with a tax expert to make sure you are doing the right thing. If you are honest and have made mistakes, the I.R.S. will work with you to rectify any of those and give you ample opportunity to rectify the situation. They are aware that people make mistakes and are not out there to get you, but to simply enforce the tax code.