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Unless you’ve got an extension, you’ve probably filed your tax return for 2008. Like many Americans, you might have missed out on some deductions simply because you weren’t aware of them – it’s a complicated system! So take a look at this list and keep in mind that some of these deductions might be available for you when you next file a return.

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Some finance people are calling the current state of the US economy a time of stagflation: but what is it, and how can we best deal with our finances during this kind of period? Some recent CNN Money tips might help you to deal with economic difficulties and your investments in these times. Being informed and staying prepared is, of course, always half the battle.

1. Understand stagflation: The economy is slowing down, but there is also high inflation - that’s what the experts call stagflation. It’s particularly nasty because unemployment problems could arise yet prices are increasing, so lots of people find themselves in trouble.
2. Stay in the stock market: Don’t be tempted to pull out your share investments during this time, even if their value is falling. You’re usually better off holding on to them and waiting for the market to rise again.
3. Invest in TIPS: Treasury Investment Protected Securities rise according to the rate of inflation so these can be a secure investment in times of stagflation.
4. Be careful with investments in general: There are not so many good ways to invest your hard-earned cash during these times, so make sure you research investment oppportunities carefully before making a decision.

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If you’ve ever wondered how you can calculate whether or not you’re on track for retirement then a handy article at Yahoo Finance recently gives some great tips. It all hinges around calculating your net worth and then figuring out if your net worth is about right for your age and demographics.

Net worth is relatively easy to calculate and follows a simple formula: Net worth = Assets - Liabilities. So figure out the value of everything you own (that could be quickly turned into cash). Subtract the total amount of your debt, and you’ve got your net worth.

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Women are facing a financial problem. They generally earn less and start saving later, but they live longer than men: so how will they have enough money to fund their retirement? (more…)

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If your water bills are rising, it’s time to follow some of these water-saving and money-saving tips from Yahoo Finance: (more…)

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While most conventional wisdom has long said you should start saving money as soon as you start earning it - because over time, it will compound and be much more valuable when you reach retirement age - there are also people who say that you’re better off not stressing too much and just saving later when your income is higher. An article at Yahoo Finance looked at both sides of the coin and came up with these points to think about: (more…)

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If you’re getting into trouble with your home mortgage repayments, you might be interested to know what kind of compromises lenders are prepared to make to find a way to keep your loan viable and avoid selling your house. Apparently, foreclosing on a loan can cost the lending authority around $50,000, so there’s often a real incentive for them to find a way to get the borrower paying back the loan on a regular basis. Plus, with house prices falling in some areas, the lender will be trying even harder to work out a loan rather than foreclose, because they may not fully recoup their money if they sell the property. (more…)

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Everyone with investments has been feeling the heat, their stomachs sinking each time the Dow dips another hundred points. But instead of double-guessing your investment decisions and diving into panic mode, Money Magazine recommends that you focus on your long term goals in relation to your investments. (more…)

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Many people believe that credit card companies have been irresponsible in their dealings with customers, and that fewer people would have large credit card debts if the companies acted somewhat more responsibly. Of course, they are only making business decisions, but the Federal Reserve has started talking about new regulations that would help credit card customers avoid overwhelming debts. Some of these regulations include: (more…)

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During World War II, U.S. citizens were encouraged to cultivate personal fruit, vegetable, and herb gardens in order to reduce pressure on the public food supply. And though it was a secondary reason, the war gardens also served as a morale booster and sense of pride for all who grew them. Today, though we don’t have victory gardens, Americans are showing their patriotism through their spending habits. (more…)