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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.

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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.

Some towns are taking note and learning how to survive a depression by using old tricks from history’s playbook. When people have no ready cash on hand, some towns are trying to stimulate commerce using some dollar alternatives that work in local areas. One of these alternatives is scrip, local currencies that can be used to trade within a select group of merchants. Another alternative that can work is a time bank. Instead of using dollars, people trade hours for different services. Each of these probably can’t uphold an economy all by themselves, however they do support additional ways to create commerce when cash is in short supply.

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With the economic boom of the 80’s and 90’s, many membership cards cut their cost of membership to zero. You could get a credit card without an annual fee pretty easily. You could even obtain a free payday loan without much fuss. You could get a shopper’s card for free, too. Even though warehouse clubs continued to charged a membership fee, they were minimal. No one would have considered paying an upfront membership fee a good deal. Times have changed, and with it comes the reappearance of the annual membership fee. Along with it, though, is the possibility of obtaining higher value from your membership cards than you would without the fee attached. (more…)

Credit card debt is something that many millions of consumers face on a daily basis. As the economy starts to recover, we often find ourselves in more debt due to economic hardships that had become unavoidable. We must now find a way to get out of debt and restore our financial independence. The real question is, can we afford to pay these minimum payments monthly and how will we ever get out of debt that way?

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The importance of budgeting cannot be stressed enough. In these times, it is very difficult to save for the future or for things we want to buy. In many cases, these things must remain in the store and instead, we must use discipline to put that money away to avoid having to use payday loans too often. Using credit cards is also a bad idea as the payments can sometimes be too much to deal with when money is tight.
If we budget in our daily lives, it is much easier to see how much we can and cannot afford. Even if budgeting is something we have never done before, we must try our best to estimate our daily expenditures as well as our income. (more…)

Whether your family budget is getting stretched a little too thin, or you want to teach your kids to not make the money mistakes that you did, odds are you’ll find yourself wanting to teach your kids about money. Regardless of the age of your kids, it is never really too early to start teaching them the proper way to manage money. Commonly one of the best times to start is when your kids are old enough to help out around the house. As they get older, the lessons should get tougher and should also be based on more real world situations. Here are some simple tips for teaching your kids about money so they will be prepared for any money situation that may arise.  (more…)

It’s unfortunate that some of the most under-reported financial crimes have nothing to do with banking, instead they have to do with romantic partners who cheat and steal from their partners. The embarrassment of having been taken by someone you loved or trusted is so over-powering that victims rarely report or prosecute people who steal from them. You may think you’re building a dream life together only to wake up and find out someone else has gotten a no credit check payday loan in your name, and you’re responsible for repayment. How can you protect yourself from this increasingly growing crime? Take note to maintain your privacy, and your wallet, as you engage others in intimate areas of your life. (more…)