The uncertainty in the housing market along with more stringent lending standards is driving more people to rent rather than buy.
Even though there may be more people in the renting market in addition to the usual renting population, there are also more people turning the homes they own into rental units rather than having their home languish on the market for months or years.
This means that the rental market, like the housing market, is currently a renter’s market.
As you start getting your tax information together, don’t forget to look for tax deductions.
While it is mostly too late to rack up new tax deductions, you can go back through your expenses from last year and figure out if you are eligible for another deduction or two. Every little bit helps when it comes to decreasing your tax liability.
The holidays have come and gone!
I’m sure many of you have gotten a gift card or two as a gift. I know I love getting a gift card to a store I love!
Don’t go spending what’s on those cards just yet though. With a little forethought you can make sure you use the gift card wisely and maximize it’s benefits. This way you make the gift card more valuable.
There’s been a bit of a ruckus with the release Suze Orman’s pre-paid debit card — the Approved Card.
Her card joins other celebrity cards such as the Rush Card and the Kardashian Card.
The problem, many claim, is that pre-paid debit cards come with fees to use them. With Suze’s card, people are claiming that she is just profiting from her audience.
I’d like to show you an alternative to pre-paid debit cards. In fact, I’m going to show you how to make your own pre-paid debit card!
First though, let’s go over what a pre-paid debit card is.
When a couple gets married, one of the first things that have to decide is who will pay the bills and make financial decisions.
Ideally, both people in the relationship would make joint decisions and have open discussions about their finances, but unfortunately, this seems to rarely happen. Instead, they may talk out large purchases, but the day to day household spending, budgeting and bill paying seems to fall on one partner.
This is generally a bad idea for both parties.
Now that 2012 is underway, many are concerned that it is too late to log more deductions for 2011.
For the most part, you’re out of luck: It’s too late to sell those losing investments for a deduction, or donate to a charity for a 2011 deduction. December 31 has passed, and many of your chances to lower your taxable income have passed along with the old year.
However, it’s not too late to squeeze in a couple other tax deductions.
Indeed, you have the opportunity to find new tax deductions if you can contribute to a Health Savings Account or a traditional IRA. You have until April 15 to make contributions to traditional IRAs and HSAs for the previous tax year (this year April 17th). Continue Reading
Since 2008 and 2009, owning a home is about as in style as teased hair.
As foreclosures continue and people end up selling their home for less than what it was worth, renting has become the new way to live. Not owning a home takes away the investment risk that is inherent in home ownership.
If the housing market would continue to falter, you’re not out anything.
Because of the distaste towards home ownership, renting has taken off.
Rental rates continue to rise and the amount of highly sought after apartments or homes continue to fall but according to a recent survey, 57% of renters are missing an important piece of insurance:
Renters Insurance!
Continue Reading
Every new year, people resolve to lose weight and get in shape.
One of the ways they often try to do this is to join the gym.
If you go to any gym around the country in January, you will notice that it is packed with well-intentioned people; however, come March, what does that same gym look like?
Suddenly it is much easier to use the equipment because there are fewer people waiting in line.
Resolving to lose weight and/or get in shape is an excellent goal for the new year.
Not only will you feel better, but you could likely save your future self money by proactively taking care of your health and avoiding high medical costs in the future related to excess weight.
However, joining the gym and spending a great deal of money upfront is not necessary as there are many other, more frugal, ways to lose weight and get in shape.
This is the time of year where you come up with a list of resolutions for the New Year.
Some want to exercise more. Others simply want to lose weight. Some want to save more money, while others want to get out of debt.
What do you think of New Year’s resolutions?
I’m not sure what to think, to be honest.
On the one hand, I think it’s important to have goals. A great goal that you follow through on give you guidance and something to aim your energies towards.
But I think setting a resolution or a goal just because the calendar changed is a bit odd.
Why not set goals throughout the year?
There’s a story that the media has missed in all of their 2011 wrap up stories.
It’s one of those rare feel-good economics stories that deserves to be relived because in 2011, one group above so many others who tried, showed that they have far more power than what they thought.
It’s not a story about Wall Street bankers, Washington politicians, the Tea Party movement or even the Occupiers.
It’s about you.
You, the consumer, showed that when you speak, you can influence the actions of the world’s biggest companies.
Not convinced? Continue Reading