If you have a hard time wrapping your head around all the terms flying around along with how credit or housing connects with the collapse that's taken place on Wall Street, watch this!

Labels: economy, government, money, news

We're rounding the final countdown for tax season. If you're getting your books squared away this weekend, be sure to read this article on the 9 wackiest tax deductions for 2009 from BankRate.com. Now, these didn't necessarily work, it's just what some taxpayers attempted to write off. For example, one accountant noted a client had a check for over $2,000 written to a gynecologist. It was classified on the business books as 'repairs and maintenance.' Another out-there attempt has been from some animal lovers. The article mentions one pet lover who claimed his dog as a dependent, another who attempted to write off the dog food for his "home security system," and yet another who claimed Fido as a landscaping subcontractor. Got to admit, these are some pretty creative deduction attempts.

What's the craziest thing you've ever been able to write off? Click here to read the complete aritcle.

Labels: commentary, economy, money

SmartMoney.com has run a story of 7 things that you're wasting money on. Times are tough and we know a lot of you are looking to save a few bucks here and there. So where are you wasting money? The seven places they mention are bottled water, extended warranties, gym memberships, overdraft fees, organic produce, auto insurance, and music downloads. There's definitely money to be saved in each of these and SmartMoney breaks down an estimate of how much money you could save. There are obviously many variables to consider here. Some other items we'd like to add to this list are eating out, coffee runs, entertainment expenses, alcohol and movie rentals. Another thing is to be more thoughtful and plan ahead. For example, if you're going to run errands on the weekend, map out where you need to travel and make sure you take the most direct route. This will save not just time, but gas, which we know is money. Please go on the message boards and share your tips.

Labels: advice, economy, money

SmartMoney.com has run a story of 7 things that you're wasting money on. Times are tough and we know a lot of you are looking to save a few bucks here and there. So where are you wasting money? The seven places they mention are bottled water, extended warranties, gym memberships, overdraft fees, organic produce, auto insurance, and music downloads. There's definitely money to be saved in each of these and SmartMoney breaks down an estimate of how much money you could save. There are obviously many variables to consider here. Some other items we'd like to add to this list are eating out, coffee runs, entertainment expenses, alcohol and movie rentals. Another thing is to be more thoughtful and plan ahead. For example, if you're going to run errands on the weekend, map out where you need to travel and make sure you take the most direct route. This will save not just time, but gas, which we know is money. Please go on the message boards and share your tips.

Labels: advice, economy, money

SmartMoney.com has run a story of 7 things that you're wasting money on. Times are tough and we know a lot of you are looking to save a few bucks here and there. So where are you wasting money? The seven places they mention are bottled water, extended warranties, gym memberships, overdraft fees, organic produce, auto insurance, and music downloads. There's definitely money to be saved in each of these and SmartMoney breaks down an estimate of how much money you could save. There are obviously many variables to consider here. Some other items we'd like to add to this list are eating out, coffee runs, entertainment expenses, alcohol and movie rentals. Another thing is to be more thoughtful and plan ahead. For example, if you're going to run errands on the weekend, map out where you need to travel and make sure you take the most direct route. This will save not just time, but gas, which we know is money. Please go on the message boards and share your tips.

Labels: advice, economy, money

When one spouse loses their job, it's not just a financial strain on the marriage, but also an emotional one. A British study released late last year by the Institute for Social and Economic Research at the University of Essex found that couples who experience job loss are more likely to divorce within a year than their employed counterparts. This flies counter to other studies that have said the financial crunch slows divorces because people can't afford them--if nothing else. In this article from MSNBC, Nicholas Yrizarry, a financial planner from Reston, Va., says he sees two types of couples: the ones who are obsessed with money and material things and allow a layoff to destroy their marriage; and the ones who have a mature relationship and adversity only brings them closer. "They are the types that can live in a phone booth together and still be OK," he said.

This is a good reminder of what really matters in life. That doesn't mean that money troubles aren't real. Yrizarry offers the following steps couples should take:

1. Sit down "calmly" and discuss what your assets are.

2. Come up with a financial plan to deal with the loss of income and strategies to get a new job--or have a non-working spouse get a job. Assess your options for taking on temporary work or retraining if your skills are not marketable anymore.

3. Implement the plan.

On the emotional front, he recommends being respectful and supportive of each other and making sure not to play the "blame game." It's a time to be constructive and supportive, especially in troubled times.

Labels: advice, economy, money, real people

When one spouse loses their job, it's not just a financial strain on the marriage, but also an emotional one. A British study released late last year by the Institute for Social and Economic Research at the University of Essex found that couples who experience job loss are more likely to divorce within a year than their employed counterparts. This flies counter to other studies that have said the financial crunch slows divorces because people can't afford them--if nothing else. In this article from MSNBC, Nicholas Yrizarry, a financial planner from Reston, Va., says he sees two types of couples: the ones who are obsessed with money and material things and allow a layoff to destroy their marriage; and the ones who have a mature relationship and adversity only brings them closer. "They are the types that can live in a phone booth together and still be OK," he said.

This is a good reminder of what really matters in life. That doesn't mean that money troubles aren't real. Yrizarry offers the following steps couples should take:

1. Sit down "calmly" and discuss what your assets are.

2. Come up with a financial plan to deal with the loss of income and strategies to get a new job--or have a non-working spouse get a job. Assess your options for taking on temporary work or retraining if your skills are not marketable anymore.

3. Implement the plan.

On the emotional front, he recommends being respectful and supportive of each other and making sure not to play the "blame game." It's a time to be constructive and supportive, especially in troubled times.

Labels: advice, economy, money, real people

When one spouse loses their job, it's not just a financial strain on the marriage, but also an emotional one. A British study released late last year by the Institute for Social and Economic Research at the University of Essex found that couples who experience job loss are more likely to divorce within a year than their employed counterparts. This flies counter to other studies that have said the financial crunch slows divorces because people can't afford them--if nothing else. In this article from MSNBC, Nicholas Yrizarry, a financial planner from Reston, Va., says he sees two types of couples: the ones who are obsessed with money and material things and allow a layoff to destroy their marriage; and the ones who have a mature relationship and adversity only brings them closer. "They are the types that can live in a phone booth together and still be OK," he said.

This is a good reminder of what really matters in life. That doesn't mean that money troubles aren't real. Yrizarry offers the following steps couples should take:

1. Sit down "calmly" and discuss what your assets are.

2. Come up with a financial plan to deal with the loss of income and strategies to get a new job--or have a non-working spouse get a job. Assess your options for taking on temporary work or retraining if your skills are not marketable anymore.

3. Implement the plan.

On the emotional front, he recommends being respectful and supportive of each other and making sure not to play the "blame game." It's a time to be constructive and supportive, especially in troubled times.

Labels: advice, economy, money, real people