They say an ounce of prevention is worth a pound of cure and the adage applies very well to keeping your car running right. Here’s 7 common sense things you need to be checking on your car on a regular basis to save yourself a lot of money in the long run. We found the tips in the summer 2007 issue of our USAA member magazine. They’re all pretty obvious, which is why you’ll be smacking yourself in the head if you don’t do them, so read up and make sure you’re on schedule.
personal finance
Prepaid Funeral Planning: Don't Do It!
By 1.4.08
Prepaid funeral plans are the “extended service warranties” of the funeral industry—profitable for the funeral home but often useless.
How Can A Minor Get Their Credit Report?
By 1.4.08
“Why can’t I get my credit report?” one of our 16-year-old readers (obviously precocious in the personal finance responsibility department) wanted to know. It seems if someone under 18 tries to get it online, say through annualcreditreport.com, they’re told no. It turns out you can order your report, you just need to do it by an old-fashioned letter. You’ll want to to include in your request your name, address, and Social Security number. This is good not just for go-get-em kids like our reader who want to make sure no one is buying a $40,000 boat with their credit, but also parents who want to protect their children from identity theft. The addresses for each of the bureaus follow.
Confess Your Money Sins
By 1.3.08
What things are you doing with your money that make you feel guilty? Leave your confessions in the comments.
Credit Card Delinquencies Skyrocket
By 1.3.08
The Impact of Extra Mortgage Payments
By 12.31.07
The web is full of opinions listing the pros and cons of making extra mortgage payments, but there are surprisingly few pieces on how extra payments impact your mortgage payments. Turns out that the answer depends on which of the four main types of mortgage you have. Yahoo Finance gives thoughts on each of these including standard fixed-rate mortgages, standard adjustable-rate mortgages, interest-only mortgages, and home ownership accelerator loans. A few interesting highlights listed from least responsive to most responsive extra-payment home loans:
By 12.21.07
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Should you go cash only to deal with a debt addiction? It can’t hurt. [The Simple Dollar]
How FICO 08 Changes Your Credit Score
By 12.20.07
The FICO system, whose credit scores lenders use to determine whether you’re credit-worthy and how favorable to set the terms, is set for a makeover. An article in today’s WSJ reveals more of the changes in store than previously disclosed, here’s how they’ll affect your credit score:
Congress Postpones AMT Expansion For One Year
By 12.20.07
Today, Congress approved a one-year postponement of the Alternative Minimum Tax, which is good news for an estimated 25 million Americans (mostly middle-class) who would have qualified for it this year. The IRS said that due to the last-minute nature of the change, some refunds may be delayed: “Changes in the tax code require substantial work, especially in reprogramming I.R.S. computers.” The IRS says that “within 72 hours it would post on its Web site revisions to a dozen forms affected by the change.”
Intuit Planning To Launch "iPhone-Friendly" Version Of Quicken Online For $3/Month
By 12.19.07
Would you pay $36 a year to access Quicken on your iPhone? What the hell, why not, right? You already paid for the iPhone! That’s probably what Intuit is hoping—and the zillion-dollar iPod accessories market proves there’s a lot of “blue ocean” for businesses that want to fish in Apple waters. It launches the product as a web service on January 8th, 2008, with an iPhone-friendly flavor also available then. There are plans to roll out “tweaked” versions for other mobile devices at an unspecified point in the future.
Family Sues Racist Debt Collector For $854,389.81, Wins
By 12.18.07
Lazy, fat, inbred, black, pathetic, stupid, liar, thief, nigger. Those are some of the defamatory words Merchants Retail Credit Association (MRCA) used on Dolores Madduxes’ family when they tried to collect on a debt Dolores Maddux, who is dead, owed CitiFinancial. For these violations of the Fair Debt Collection Practices Act, the Madduxes sued MRCA and won $854,389.81. Even delinquent debtors have rights and it’s important to know them and call an attorney if they’re being violated.
The Best Personal Finance Ideas Of The Year
By 12.18.07
Nothing say Christmas like a list, so here’s another one. Here are some of the best personal finance ideas blogged this year, chosen by Mrs. Micah: Finance for a Freelance Life. Her top pick is the “debt snowflake” from the blog PaidTwice—it describes the act of finding lots of little ways to supplement your standard income, so that you can add mass to your “debt snowball” to make it more effective.
Save So You Can Splurge
By 12.17.07
Here’s how reader Andy Alt saves his money while still rewarding himself:
Roughly 65% of the money I make goes directly to a savings account (the other 35% goes to rent, health insurance, cell phone bills, gas, auto insurance & food). After I take care of the necessities, I tell myself that for every $10,000 I save (usually takes 2-3 months) I allow myself to buy something cool that I want around the $1000 range. Since summer, I bought a Macbook with 4GB ram, a 1966 Fender Pro Reverb amp and am ready to make another purchase (perhaps a scooter or used motorcycle) once I hit my mark again.
