Scam Alert: Your Loved One Has NOT Been Kidnapped

December 17, 2013

I’ve previously written warnings about the grandparent’s scam, where a caller pretends to be a grandkid asking for help in a bad situation, typically a fake car accident or drug arrest, and the grandparent is instructed to wire money to help out.  However, scammers are now turning up the heat with the newest twist – the kidnap call. Imagine you are at work, your cellphone rings, and the caller informs you that your father (or brother/husband/son) was in a car accident, declined to give his insurance information, a fight broke out, and your loved one was now being held at gunpoint and you need to wire $1,000 immediately for the damages or else he would be shot.  How would you react?  Continue reading “Scam Alert: Your Loved One Has NOT Been Kidnapped”

Make the Most of Your Miles

December 12, 2013

While making my travel plans for this holiday season, I went to use my American Airline Aadvantage miles to book a free flight home only to realize that my miles had expired! I now had to spend several hundred dollars on a flight that I could have had for free.  Needless to say, I wasn’t very thrilled with this. I contacted American Airlines and found out that I could get my miles back by either paying $200 or paying $30 and booking a roundtrip ticket with them in the next 6 months. I guess I’ll have to keep a lookout for a good flight on American. Here are some tips on using mileage points to make sure you don’t end up paying more for a flight too: Continue reading “Make the Most of Your Miles”

A Tax Tip for a Jolly Old Elf

December 11, 2013

‘Tis the season to be jolly, and what better way to express your jolliness than to share it with others. Friends and family may be the first on your list, but don’t forget the less fortunate. My friend and colleague, Diane, and her daughter are starting a new tradition this year: They have adopted a family for the holidays so Diane and her daughter have chosen to sacrifice part of their Christmas so that others can enjoy theirs. Continue reading “A Tax Tip for a Jolly Old Elf”

How to Dispute a Credit Card Purchase

December 04, 2013

Have you ever paid for a service with a credit card and just weren’t satisfied? Or bought something and found yourself unable to return it because of some obscure policy? If your answer to either of these questions is “yes,” take solace in the fact that you’ve got some recourse. As long as you made your purchase with a credit card that provides a dispute process – which almost all do – you may have a way to get your money back. However, there’s a right way and a wrong way to engage this process. To learn more about how to properly dispute your credit card purchases, read on. Continue reading “How to Dispute a Credit Card Purchase”

Clothes Too Tight After Turkey Stuffing?

December 03, 2013

Did you try to put that cute winter sweater on for the first time this year, only to find that eating way too much turkey, mashed potatoes, and stuffing is resulting in your unsuccessful attempt to stuff yourself into clothes that are now too tight? Well, I don’t have a magical dieting solution, but I’m sure someone else might just find that sweater a perfect fit. Whether some of your clothes are now too tight, too loose (I wish!), or just simply out of style, the solution is to donate these items to someone who CAN wear them.  Not only can someone else make good use of your castoffs, you might even be able to take a tax deduction.  Continue reading “Clothes Too Tight After Turkey Stuffing?”

Eating Out Can Take a Big Bite Out of the Budget

November 26, 2013

I took a call last week from a frazzled father of two young kids who was stressing over his budget. He made good money but was living paycheck to paycheck and still coming up short some months, which meant charging some things on his credit card.  After reviewing his monthly expenses, what jumped out was the fact that his family was spending over $500 a month on eating out,  and many of these meals ended up on his Visa card.  His wife worked part-time and felt like between working and dealing with the kids, she had no time to make dinner, so they’d head out to a restaurant at least four times a week.  Not only is this expensive, but eating out is usually not good for our health either.  Continue reading “Eating Out Can Take a Big Bite Out of the Budget”

Simple Car Buying Rules That Can Save You Money

November 25, 2013

I recently received a nice reminder about why our family maintains an emergency fund. While sitting in a car line getting waiting to drop my daughter off at school (and trying to play the role of referee during an early morning brother/sister quarrel), I noticed that the SUV was severely overheating. A few days and about $1,300 later, my daddy chauffeur business is now once again back up and running.  (Note: I am still working on getting the cute little monsters to get along though.) Continue reading “Simple Car Buying Rules That Can Save You Money”

It Takes More Than a Helmet to Protect Yourself Today

November 22, 2013

If you ask fans of the NFL what one of the biggest news stories of the year is, many would say “player safety.”  There have been numerous rule changes designed to limit the impact of violent collisions on players’ long term health.  This is especially true with hits to the head and neck.  Players can no longer use the crown of their helmets to tackle other players.  The hoped-for result is fewer concussions that can lead to serious long term health consequences. Penalty flags are common for dangerous plays now and very often players are fined significant sums of money for illegal and dangerous hits. The league and the NFLPA (the players union) take safety and protection very seriously.  Continue reading “It Takes More Than a Helmet to Protect Yourself Today”

Need a Lyft?

November 21, 2013

I recently had to drop off my car for some repair work and rather than call a taxi, I decided to try a new “ride sharing” service I had heard about called Lyft. Before using it, I really didn’t know what to expect. I thought it was the car version of Airbnb, in which practically anyone could sign up to give rides for a fee to people using the service. I figured that at the very least, it would be more interesting than the typical cab ride and could possibly save me a few bucks. I was pleasantly surprised to find that it was a whole lot more. Continue reading “Need a Lyft?”

Can You “Burp” Away the Medicare Surtaxes?

November 19, 2013

Burping can relieve more than just stomach discomfort. It can actually relieve the pressure of the new 3.8% Medicare surtax, according to Steve Parrish, a Forbes contributor. His idea of “burping income” is that if a taxpayer can discharge some income at certain levels, it avoids an accelerated build-up of further taxes. This analogy can apply to various triggers in the tax code but is particularly appropriate to the Medicare surtax. Continue reading “Can You “Burp” Away the Medicare Surtaxes?”

What Happens Now If You Cannot Afford Health Insurance?

November 18, 2013

Most of the employees that I work with are in a fortunate position to work for large companies that provide health insurance to their employees.  But many of the people that I talk with have friends and extended family members that are not covered by an employer-provided plan.  One area of confusion these days is what happens when you cannot afford health insurance.  Unfortunately, the answer to that question is a little complicated and it depends on a few important factors. Continue reading “What Happens Now If You Cannot Afford Health Insurance?”

Pass the PEP, Pease?

November 12, 2013

No, I am not asking you to pass me the pepper. PEP stands for personal exemption phaseout, a potential reduction or even elimination of the $3,900 per person exemption on your 2013 tax return. For single filers with adjusted gross income (AGI) in excess of $250,000 or couples who are married filing jointly and have AGI in excess of $300,000 the exemption will be reduced by 2% for every $2,500 of AGI (or portion thereof) above $250,000 ($300,000 for married couples filing jointly). For married couples, personal exemptions will be fully phased out once their AGI exceeds $422,500, or for single filers if AGI exceeds $372,500 according to Internal Revenue Bulletin 2013-5. Continue reading “Pass the PEP, Pease?”

Are You Ready to Ditch Your Cell Phone Contract?

November 07, 2013

I was happy to hear that my colleague and fellow finance geek Linda Robertson recently joined me and Greg in ditching cell phone contracts and coming over to the prepaid side. I’ve been a huge fan of prepaid cell phone plans over the last few years and they keep getting better in terms of price, phone selection, and overall value. For example, you can now get a top of the line iPhone or Android smartphone and pay a fraction of the monthly cost of the big 4 carriers (Verizon, AT&T, Sprint, and –Mobile). Continue reading “Are You Ready to Ditch Your Cell Phone Contract?”

My Homeowners Insurance Has a New Place to Live

November 06, 2013

This November, my homeowners insurance policy came up for renewal.  I’ve had my current policy ever since I purchased the home six years ago.  In North Carolina, if the cost of your homeowners insurance is more than what the insurance commissioner deems a reasonable rate, the insurance company must send a “consent to rate” form, whereby the homeowner consents to pay a premium higher than the threshold set by the state commissioner.  For the last several years, I’ve signed the consent without much thought, but this year I decided to shop around to see if I could get better rates somewhere else. Continue reading “My Homeowners Insurance Has a New Place to Live”

On The Road Again

November 05, 2013

As a financial educator, I travel quite a bit in order to provide onsite workplace financial education on a variety of topics. In fact, some months I am on the road more than I am at home. I’ve been to almost every state, even including Hawaii!  Continue reading “On The Road Again”

Financial Trick or Treat?

October 30, 2013

Along with the cooling temperatures and falling leaves that mark this time of year, comes the annual parade of children dressed as ghouls and goblins, marching door-to-door asking that most provocative question: trick or treat? It may seem silly when the question comes from a little boy and girl dressed up for Halloween, but when it comes to your money, how many times do you think you are getting a treat, when in reality you might be falling for a trick?  The following are examples of financial tricks that are disguised as treats: Continue reading “Financial Trick or Treat?”

SPEND MORE now to SAVE MORE later

October 23, 2013

As financial educators, it is important for us to solicit feedback from end users so that we know if our education is making a positive difference in the lives of those that receive it. It is also important to report this information back to our clients, so that they can make adjustments to their programs based on the feedback we receive.  Since our education is sometimes delivered through live workshops, we often have stacks of evaluations that must be mailed back to our home office in El Segundo, CA. Continue reading “SPEND MORE now to SAVE MORE later”

Take the America Saves Pledge

October 22, 2013

Want to win a $50 gift card?  By taking the America Saves Pledge and agreeing to receive text messages with  tips to help you find money to save and reminders to save for your specific goal, you will be entered to win 1 of 5 $50 gift cards during the month of October. You’ll be joining over 310,000 people who have pledged to save so far, and even if you don’t get the gift card, you will win by staying motivated to save. Continue reading “Take the America Saves Pledge”

The 5 Most Rewarding Cash Back Credit Cards

October 17, 2013

I recently received an email from a friend asking for a suggestion for a new cash back rewards card. Credit card debt can be a dangerous thing but as long as you pay off the balance in full each month, getting cash back is a great perk to using credit cards. I especially like cash back as a reward because of the simplicity and flexibility it offers versus miles and other types of rewards. Without further ado, here are the best ones I’ve found: Continue reading “The 5 Most Rewarding Cash Back Credit Cards”

Are You Sirius? How Much Was I Paying for XM Radio?

October 15, 2013

When I bought a gently used SUV last year, it came with a 6 month free trial of SiriusXM  radio.  Unlike my husband, I don’t have to listen to the sports channels, but I did get used to spending up to 3 hours of a long drive with Dr. Laura. When my free trial expired, I called to cancel – I had even written the date down in my dayplanner to make sure I didn’t auto renew – but couldn’t resist the offer to extend my subscription for another 6 months for only $39.99.  Continue reading “Are You Sirius? How Much Was I Paying for XM Radio?”