College is a financially difficult time for many full-time students. You probably have significant education expenses, are likely to work a limited number of hours at a relatively low-paying job, and may often be tempted to splurge on the fun that's a natural part of college life. Money management can be challenging for people of all income levels, but the less money you make, the more important it becomes to stay in control of your money...
Most U.S. cities have seen a drop in the unemployment rate over the past year, a government agency reported on Thursday. The unemployment rate dropped in 317 of the 372 metropolitan areas surveyed by the Labor Department’s Bureau of Labor Statistics in the twelve-month period beginning in March 2010. It was higher in 44 metros, and remain unchanged in 11 areas. The national average unemployment has dropped 1 percentage point in that same time period -...
If you are overwhelmed with debt and feel that it’s impossible to ever pay it all back with your current income, you may be considering bankruptcy. There are two types of bankruptcy: Chapter 7, also known as straight bankruptcy or liquidation, is the type which clears the filer of all qualified debts. Chapter 7 filers must meet certain income criteria. Chapter 13, also known as a reorganization or payment plan bankruptcy, is a court-ordered structured repayment...
It’s tough if you’re at a point where you’re considering bankruptcy - it can be really disheartening to realize you’ve been swamped by your debts. And you probably already know that bankruptcy has serious long-term consequences to your credit history. But in certain situations, bankruptcy may be the best way to get that fresh start you desperately need. The U.S. Supreme Court said this about the purpose of bankruptcy law back in 1934, “It gives to...
Just a heads up if you haven’t already filed your income tax return - today is the last day to get your taxes paid on time. Your mailed return must be postmarked or your e-filed return (with payment) must be electronically delivered by midnight to be considered on time by the IRS. Failure to pay the entire balance due can result in a late payment penalty. This year’s April 18th due date comes three days later...
Unfortunately, tax season is when many Americans find out that their identifying information was fraudulently used by a crook. An unexpected message from the Internal Revenue Service could be a warning sign that your Social Security number is being misused by an identity thief, warns the Federal Trade Commission. Consumers should always be alert to signs of identity theft, and that includes tax-related identity theft. If you receive a notice from the IRS that more than...
In his budget speech today at George Washington University, President Obama said that his goal was to cut the federal debt by $4 trillion over the next twelve years, phased in over time to avoid hampering the economic recovery. To deal with the nation’s $14 trillion deficit, Obama said he would not extend Bush-era tax cuts for high earners - set to expire at the end of 2012. “In the last decade, the average income of...
Do you need renters insurance?If you’re renting a place to live - whether a house, townhome, or apartment - you may have wondered if you need to have renters insurance. Or you may be just starting out or otherwise feel that you own very little worth insuring. But you probably have much more than you realize. It’s unlikely that you went out in one day and purchased every single thing you need to make your place...
The number people who filed for first-time unemployment benefits fell by 10,000 last week, according to a government report released on Thursday.The advance number for new claims was 382,000 for the week ending April 2, and the insured unemployment rate was unchanged from the previous week’s rate at 3%, the Labor Department reported.States reported that just over 3.5 million Americans were claiming Emergency Unemployment Compensation (EUC) in mid-March, down from nearly 5.6 million at the same...
Kohl’s announced on Tuesday that the transfer of its private-label credit card portfolio to Capital One has been completed as of April 1, 2011. Capital One will service new and existing Kohl’s charge accounts for a seven year contract. Through the partnership, Capital One acquired more than 20 million existing Kohl’s charge accounts - which accounted for 50% of the department store’s sales last year."Kohl's has an exceptional brand and offers a great experience to their...
