Cash for car clunkers may be over, but hold on to your hats! Appliance clunkers are about to get a program of their own. The idea is the same: saving energy, updating infrastructure, and providing a tax incentive to people to spur spending in the US economy. In one of the few positives about the economic situation, this program will provide a way for struggling homeowners to get some benefit out of the stimulus plan, by allowing them to upgrade appliances while subsidized by the Federal government. The appliances that will qualify include aging refrigerators, washing machines, dishwashers, and more. The actual make and models that you can replace them with will be issued by each state that implements the program. (more…)

There is some good news during this recession. If you’re in your mid to late 20’s, have a job, and are looking for a home, there are some great real estate deals out there. Securing a mortgage may be tougher, but banks are keen to make sure you can maintain the mortgage, leaving you less open to defaulting. Getting into a starter home is probably easier than it has been in years, as long as you have a good credit rating. The down payment may be 10%, but over all prices have depreciated significantly in many markets making housing more affordable for many young people starting out. (more…)

If you’re a parent during this recession, you may have questions on how to tell your children about your financial situation without scaring them unnecessarily. You can use the recession as a great history and economics lesson to help your children grow up with a better sense of money values. Explaining economics to kids doesn’t have to cause anxiety, and many times just communicating the needs of the family will help the kids to understand how they can contribute to the solution, instead of being part of the problem. (more…)

One of the biggest debt traps out there is revolving debt. Credit cards have managed to indebt millions of individuals in the United States who took on lines of credit when debt was relatively cheap. Some had offers for introductory 0% cards, motivating them to indebt themselves further with the ideal that they would pay it off before the finance charge reset. Unfortunately, with revolving debt, it’s very easy to get in over your head. It’s not like a short-term loan, like pay day loans, that only allow you to borrow a small amount (between $300 and $600) and then requires payment with a short payback cycle, clearing the balance. Instead, revolving credit on credit cards can linger for years and cost many thousands of dollars more than it’s worth. (more…)

When people are in debt they get desperate, but that’s the time to keep a cool head. Debt scams abound for those with financial issues from fake foreclosure help to consumer debt advocacy organizations that take your money and run. Sometimes the scam is an out-and-out fraud. Other times, the level of service is so poor, you would have done better to go elsewhere. Whatever the reason, if you’re trying to resolve a debt issue, it’s important to realize that you might be a prime target for people who don’t have your best wishes in mind. (more…)

In the current economic climate people are looking to save money on everything possible. Clipping coupons and looking for budget oriented or “bargain” items is a very popular and common past time.

This has spilled over into vacationing as well, and now everyone is hoping to enjoy some discounts and savings on their holidays. Many parents look for family vacation ideas on a budget as a way of enjoying a unique, but cost-effective trip. There are entire websites dedicated to saving money while traveling and many news stories about ideas that others are using to enjoy a fun and yet inexpensive trip. (more…)

Many people nowadays have taken to the habit of living paycheck to paycheck. They often believe that saving or putting any money away whatsoever to be an impossible task, but this isn’t necessarily true. Learning how to build a realistic budget can allow people to still make sure that their needs are met, and allow them to begin setting something aside each month, or with each paycheck. With the current state of the economy, it’s important to have a back up plan. Having a little something set aside just in case something happens can not only bring peace of mind, but help to ensure that if something unexpected happens you can still be okay. (more…)

If you read the entertainment publications and watch television it is easy to see that most celebrities, including the biggest rap stars, are quite comfortable and have plenty of cash. Unfortunately, most of us can’t live the life of a major star, and enjoy the kind of wealth they receive for their work.

Most of us can make budgets, look for good deals and bargains and try to get ahead so that we can at least have some financial “breathing room” from time to time. In the current economy, it is very hard to even set aside some savings or make plans for vacations or getaways, because prices are high and incomes are low. (more…)

In an effort to take gas-guzzling vehicles off the road, the government has initiated a program that will give new car buyers a monetary incentive to trade in their older, less fuel efficient cars and trucks. Known affectionately in the media as the Cash for Clunkers program, the Car Allowance Rebate System, or CARS incentive program, will allow a $3500 to $4500 payday to be put into the pockets of those who wish to help the government make traveling greener. By reducing the number of less fuel efficient vehicles on the road, we can save money and help the environment in general by reducing the consumption of fossil fuels.  (more…)

Most people living in the United States have at one time been faced with a financial burden.  Sometimes, the situation can be worked around, perhaps borrowing a little money from a family member or friend but other times, there simply seems to be no solution.  However, rather than the individual paying the expense with a high interest rate credit card, maxing out a credit card, or for people that never use credit cards, payday advances offer a way out. (more…)