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Just checking annnnnnnnnnnd… yep… global stock markets remain in turmoil. [NYT]
personal finance
Get Tax Advice Over The Phone With FreeTaxQuestion.com
By 1.23.08
If you’re uncertain about something on your taxes, you can get free tax advice over the phone until Jan. 31, thanks to a special TurboTax promotion at FreeTaxQuestion.com. Just enter your question and name, phone, email, and best time to reach you, and an IRS enrolled tax pro will call you and help you out. If you’re worried that this is just a lead generation ploy, use a disposable email address and disposable phone number. The FiLife blog tried it and had to submit their question twice, but they got it answered and answered good. They said that TurboTax was casually mentioned among the array of options one could use to finish filing, but there was otherwise no overt product pushing.
E*TRADE Drops Online Savings Account Rates To 4.4%
By 1.23.08
So, of course, one day after I post about how great E*TRADE’s 5.05% savings rate is, it drops to 4.4%. Truth be told, that was kind of unsustainable with the federal interest rate at 3.5%. It will still probably be higher than the rates offered by the other players which have like HSBC Direct (currently 4.25%), ING Direct (currently 3.6%), and Emigrant Direct (currently 4.55%). Tears, tears.
5 Retirement Myths
By 1.23.08
Many people are so fixated on saving for retirement that they forget to plan what they’ll do during that time. If you cut out your days of work, you now have 40-60 extra hours in your life. What will you do with that time? After all, there’s only so much golf you can play.
Swapped Cash From HSBC Direct To E*TRADE
By 1.22.08
Today’s interest rate cut means online savings accounts lovers will once again experience heartbreak as their high-interest accounts become even less so. There is still one company offering rates from the what now must be seen as halcyon days; E*TRADE’s online savings accounts give you 5.05%, though it’s not without caveats…
Fed Cuts Interest Rates In Emergency Action
By 1.22.08
The Federal Reserve Board cuts interest rates again, now down to 3.5% from 4.25%, in a rare move outside the normal meeting schedule. The reduction is meant to stimulate growth as banks will lower their loan rates for certain kinds of loans. Here’s how things will go for the consumer:
By 1.21.08
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As of January 11th, you can now start e-filing your taxes. Let the fun begin! [Bankrate]
By 1.21.08
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Here’s another fraudulent charge to watch out: charges in the amount of $9.45 or $9.40 from your checking account from an “advertising company” called HBS. A reader says it happened to him, and when he searched online, he found others, a good number of whom had ordered credit reports from Equifax… [800notes]
It's Still Possible To Game Your FICO Score By 100 Points Or More
By 1.21.08
For about $1400, you can raise your FICO credit score by 35 to 40 points through companies like TradeLine Solutions, writes the New York Times. Lots of subprime mortgage holders are turning to these companies in a last ditch effort to game the FICO system, in order to avoid rate adjustments that might send them into foreclosure. Of course, knowingly misrepresenting your credit score might count as loan fraud, points out a FICO representative.
By 1.21.08
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The average age of new car buyers in January 2007 was 43. In January 2008, it was 48. This suggests that as the economy tightens, younger car buyers are staying out of the new car market. [Kicking Tires]
Say Goodbye To Your Free Student Checking Account
By 1.20.08
Banks love graduation almost as much as parents. You’re finally on your own, able to afford food, rent, and beer, so why shouldn’t the banks—the kind, selfless banks that let you save while you slaved for knowledge—now sink their teeth into your anorexic accounts for a hearty bite of their own? FiLife compiled an excellent list of bank policies so students know how their institution plans to celebrate their impending graduation.
6 Reasons To Keep More Than One Credit Card
By 1.19.08
Keeping a second credit card won’t lead to financial ruin, and may prove useful in several situations. Bankrate offers six reasons to stash away a spare card.
Missing Data On 650,000 Customers Related To Credit Card Fraud Surge?
By 1.18.08
On Tuesday we speculated that the surge in credit card fraud and forcible card reissues our readers have been reporting to us were the result of a recently discovered breach at a “major retailer,” and now GE Money Bank reported that the data of over 650,000 customers of JC Penney and hundreds of other retail stores is missing. Are these two events related? The official line is no. GE Money Bank says the data, which was stored on magnetic tapes, “was created in such a manner to make unauthorized access extremely unlikely and difficult, even for experts with specialized knowledge and technology.” But guess what?
By 1.18.08
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Here’s 10 top questions frequently asked about starting a Roth IRA. Don’t have one? Why not? They’re a great no-brainer way to save for retirement. [Yahoo! Finance via Money Crashers]
Get Basic Tax Info With Publication 17
By 1.18.08
Are you totally clueless about your taxes? Don’t worry, the government is here to help! The IRS puts out a 300-page document called Publication 17. It can serve as a getting started guide for doing your taxes and answer questions like what to do when you have a baby, retire, or sell stock. Pub 17 also covers some of the new changes in store for 2008, like the expiring capital gains tax, IRA deduction increases, changes to child’s investment income, and ever so much more. No, you don’t have to read the whole darn thing. It’s a PDF so you can search for specific keywords and phrases. If you’re doing your taxes yourself and have some basic questions you need answering, Pub 17 is a good place to start.
Man Turns Chevy Trailblazer Into Giant Cellphone
By 1.18.08
Wayne shares a cool Chevy/On-Star/Verizon billing hack that reduces his monthly bills:
I just bought a new Chevy Trailblazer which came equipped with On-Star and hands-free phone service. The hands-free service was provided through a pre-paid plan with Verizon Wireless. I called Verizon and they actually put my Chevy onto my already existing Family Plan for $9.99 a month. Now, my car is a giant cell phone with all the same calling features of a regular phone ( Verizon to Verizon for free, free evenings and weekends, etc… ).
Sweet deal, no doubt it would work for any other car prequipped with On-Star. Anyone else hack their car’s hands-free service in a similar way?
$800-$1600 Rebates Expected In Bush Stimulus Plan
By 1.18.08
It looks like Bush’s economic stimulus package is going to take the form of instant cash bonuses: $800 for individuals and $1600 for married couples. That’s dumb, everyone should get Costco coupons! All kidding aside, the NYT says the ~$500 rebates granted after the 2001 recessions proved “surprisingly effective…people spent most of the money rather than salting it away in savings or using it to pay down credit card debt. A 2004 study by economists at the Department of Labor, Princeton University, and the University of Pennsylvania found that households spent between 20 and 40 percent of the rebate within three months and another third in the following three months.” Will this “wealth surge” be just what the countries needs to beat back the forces of recession holed up in our economy, terrorizing our financial well-being? Bring on Operation Cash Dump.
Stay Away From Tax Refund Anticipation Loans
By 1.18.08
I saw a big billboard for Jackson Hewitt showing a broadly smiling woman of indeterminate ethnicity holding a fistful of money that she just got by getting a refund anticipation loan, and it reminded me of how we need to do our annual telling of people to once again stay away from said refund anticipation loans.
