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30.04
2011
Author:
David Powell
Tags:
Money
No Comments »

Buddies With Money

Did you ever see the movie Friends With Money? Jennifer Aniston plays a house cleaner in LA with three well-off friends who don’t get it that not everyone can swing pricey restaurants on a daily basis.

Its likely most of us have been there at some point. I remember a time when money was tight and a friend of mine had her birthday dinner at one of the most expensive restaurants in town. Not only did the group order a lot and the bill get split evenly, but everyone had to pitch in for the birthday girl. On a tight budget, it was a social/economical nightmare.

Whether you’re trying to take the frugal route or you just don’t make as much as some of your friends, here are a few tips for navigating that fine line between living within your means and living it up together.

1. Be honest about your limits. Talking about money (or lack of it) can be uncomfortable. But b

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26.04
2011
Author:
David Powell
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Countdown to Graduation: Getting an Apartment

Close your eyes and imagine your ideal pad: is it in the city, near all the noise and late-night pizza joints? Are there roommates (or a significant other)? Big TV or little TV? Time to have your dreams slam into the reality of a budget.

Rent will eat up the biggest chunk of your budget so be prepared to be thrifty. Extra charges for electricity, gas, hot water, a garbage disposal, an occasional plumber, cable and Internet are just plain necessary. Let me share a few apartment-hunting strategies that I’ve used over and over:

  • Know the neighborhood: My favorite site is . This free site lets you filter apartment rentals against a Google maps background for almost any city. You can pull up the crime stats, neighborhood names and other useful info too.
  • Rethink distance: You can save a lot if you live farther away from work or the city center. Offset that longer commute by living very close to the subway, train or bus. E

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26.04
2011
Author:
David Powell
Tags:
Conference Press Conference
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First Ever Fed Press Conference

Today marks the first time the Federal Reserve will hold a press conference to go along with it’s decision on whether to change interest rates. Most observers expect the Fed to leave interest rates unchanged (basically at zero percent), so the real action will be in the details that emerge from the press conference where questions about how the economy is doing, what the Fed is doing, and how long they think those things will last, will take center stage.

In another change, the Federal Open Market Committee will also release the quarterly growth and inflation estimates that is uses to make its rate decisions today. U

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21.04
2011
Author:
Mary Ross
Tags:
Credit Credit Explained
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The Enigma of Bad Credit Explained

Do you have a low credit score? If so, you’re not alone. Thousands of Americans, buffeted by the recession, are facing lower than average FICO scores. Since most Americans have, on average, a credit history of 14 years and 13 credit obligations, the capacity for error can be great. In fact, since the average American has approximately $19,000 in credit to manage, it helps to know how you can avoid getting lower credit scores, or how to improve your existing one.  In this article, we discuss how bad credit happens and what steps you can take to repair your low credit score.

How Bad Credit Happens

More than 25% of Americans have credit scores below 600, which is commonly referred to as the dividing line between good credit and bad credit. Ho

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20.04
2011
Author:
David Powell
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About the Financial Literacy Summit

As promised, yours truly dutifully waded through over two hours of dense talk from some of the most important gurus of personal finance. Imposing experts included the Treasurer of the United States, Rosie Rios, and the Chair of President Obama’s Advisory Council on Financial Capability, John Rogers, Jr. A lot of the discussion was about policy and programs to distribute, measure and improve financial literacy training.

One tip stands out. Ian Solomon, the United States Executive Director at The World Bank, had a great idea to link financial training with events. He talked about two kinds of events: big life events and transactional moments. The first one we’ve all experienced: getting a brochure and Q&A sessions when we take on student loans or sign up for a credit card. The other type is more innovative. Transactional moments are every day, and really un-special. But because they’re so frequent, they have power to accumulate and change our financial situation. Here

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18.04
2011
Author:
David Powell
Tags:
April April 18 Due Today
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Taxes Not Due Today – April 18 not 15

Today is April 15th; taxes are due today.

Wait! Actually, tax day 2011 is actually on April 18th thanks to a Washington D.C. holiday being observed on April 15th.

That means all you slacker, procrastinators, and just plain still working on them taxpayers out there get a whole other weekend to work on your income taxes.

Don’t forget, you can also file for an extension. Everyone is permitted an automatic tax filing extension of six months by filling out and submitting Form 4868 – Application for Automatic Extension of Time To File U.S. Individual Income Tax Return.

You still have to pay your taxes by April 15th. An extension to file is not the same as an extension to pay.

Wondering what happens if I don’t file my income taxes?

If you can’t pay your income taxes, you can ask the IRS for a payment plan. There is a fee for setting up a payment plan, however. If you can’t pay them now, but will be able to pay within a month or two, don’t set up a payment plan. Just send t

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