By: Barbara Zickau

Short term financing can benefit a person’s life in many ways. How many times have you found yourself with an emergency that needs to be taken care of but payday is a week away? What have you done to locate the funds? Have you borrowed from friends, family, taken out a loan at the bank or a last resort took out a payday loan? All of these options will allow you to meet the payment when it comes due, but which option allows you to feel that you are actually doing this without help? (more…)

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Everyone knows that paying bills on time is the major factor in keeping a good credit score. However, there are a few little known items that can swiftly undo all your hard work and have a very negative impact on your credit score if ignored. You may not even know what damage has been done unless you keep up with your credit profile. (more…)

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It’s a long haul to get that diploma, but not soon after the celebration new grads are faced with new financial dilemmas that need careful planning. School loans can come due, health insurance benefits may or may not need changing, and in today’s economy a job may not there immediately to save the day. Careful financial planning is in order to keep your spirits high until you can land your first big gig. (more…)

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Sure, Valentine’s Day was yesterday. You can chalk up this great advice as getting a headstart on next year’s Valentine’s Day, just like all that discounted heart-shaped chocolate you bought today that you know will be eaten before the weekend. Yeah, we did that too. (more…)

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Explore the Five Senses!

Being cash poor doesn’t have to affect your Valentine’s Day. There are plenty of low cost options available for the couple on a budget. Just remember that Valentine’s is not about how much buck you spend, but what kind of bang you get from your Valentine’s plans. To keep your budget intact and the romance still in your relationship, seek out experiences that cost little, but make for bigger memories by engaging all your senses. (more…)

Winter may not have dumped tons of snow in the United States this year, but that hasn’t kept people from dreaming about their next vacation. Fleeing bad weather may be a prime motivator when figuring out vacation plans, but others seek an experience that is different and novel enough to infuse more passion in their lives. (more…)

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Wave a home office deduction in front of the IRS and you may end up audited. Accountants have long known that certain deductions on your taxes are red flags for the IRS which can lead to an audit. (more…)

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Banks have had their share of the blame during the recession as many Americans are still stinging over problems in the housing market. While demand for housing dropped and foreclosures rose due to unemployment, banks were seen as complicit in the housing crash due to the ease of obtaining a house (whether you could afford it or not) and the “robo-signing” scandal. Since banks are in the business of turning a profit, it has never been an option to forgive a bad loan. Now, the Obama administration has stepped into make it easier for underwater homeowners, those that owe more on their mortgages than they are worth, to be able to obtain relief via a new home financing program that gets the banks on board first.

Early Stages

Banks have not whole-heartedly embraced the programs, but despite that 40 states have signed up to take part in the program. Even though the sign-on deadline has passed already, there is great hope that with 40 states participating it can still be a step in the right direction. The amount of funds available to banks and distressed owners depends on the number of states that sign up. If all 50 states came on board, the pool of money would be $25 billion. Some larger key states, like California and New York, are still not in agreement, but the plan is still in its very early stages. Negotiations continue for these states and others, like Florida and Delaware, despite the deadline having passed. It is expected some agreement can be reached.

What It Means

For underwater homeowners, the new program would provide them with $20,000 of relief to pay off the principal of an underwater mortgage upon refinancing. States that agree to the deal will get immunity from federal prosecution for their role in the housing crash. Homeowners would still have the option to pursue proceedings against banks, but are less likely to do so if they obtain relief. More people would be able to stay in their homes and refinance to more appropriate levels. The program offers help for those currently at risk of foreclosure, but can do nothing for those who already have lost their homes during the housing crisis.

Oversight and Management

The new rules put in place for this program mean better oversight and management. In keeping with President Obamas ideal of a “fair shake,” they will be responsible for communicating better, not causing delays, and providing contracts that are equitable. Banks aren’t as happy with the new agreement as it still leaves them open for further legal issues. However, mortgage services and states will be off the hook as long as they abide by the new rules and promise to help about 1 million people who are estimated to be underwater on their mortgages. This in turn can lead to more confidence in the market and a stabilization of housing prices in the most hard-hit areas. Once the housing market recovers, it will be the last sign that the recovery is in full throttle and the U.S. economy is headed towards prosperity once again.

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That’s what one unlucky man found out when his entire village won the lotto. Filmmaker, Costis Mitsotakis was the only person in his town to not buy a lottery ticket, only because he was overlooked by the civics group that went door-to-door. (more…)

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You expect a retailer to offer you a coupon, but now even banks and credit card companies are jumping on the online coupon bandwagon. While they are not in the business of selling specific merchandise, credit card companies have long offered discount perks to their customers and online coupon links are just the next evolution of that philosophy. With more people checking their statements online, instead of waiting to see them in the mail, it offers yet another opportunity for banks to put an offer before a captive audience for something tailored specifically for that person. (more…)