School Options
Friday January 16, 2009
Many college students, and soon to be college students are facing a new problem when it comes to paying for college. Many parents are now unable to pay for their children to attend college due to job loss or other pay cuts that they may have taken recently. This is especially true if the parents had not saved for all of the cost of college.
So is it possible to go to school when your mom and dad won't help you pay the bill? The simple answer is yes, you can. And you don't even need to go in to debt to do it. You may need to rethink where you are headed for school--an in-state university will have lower tuition costs than most out-of-state or private universities. You should make it a priority to find and apply for scholarships and get a job or two. You can work two or three jobs over the summer and save up for the school year. Plus you can work part time when you are attending classes.
This path may not be the easiest one, but it is time to take charge of your life and make responsible decisions. A good education is necessary to compete in today's job market. With the economy getting tougher, it is even more essential to have the skills you pick up while getting a college education.
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Get Ready to File Your Taxes
Thursday January 15, 2009
Tax time is fast approaching. The sooner you file, the sooner you can get your refund. The time it takes to receive your refund slows down the longer you wait because the volume increases and it takes longer for everything to be processed. If your refund if big, you should consider adjusting your withholdings so that you have more money during the month.
You need to determine if you are going to a tax place to get your taxes done or if you are doing them yourself. The software that you can purchase can make doing it yourself much easier. If you have a difficult return or if you have had a lot of tax changes this last year, you may want to go to an accountant for help with your taxes. If you made less than $54,000 then you qualify for free file, which allows you to use tax software for free. You need to visit for more details.
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Finding Motivation for Your Finances
Wednesday January 14, 2009
Every time I hear of someone else losing a job or having a reduction in hours, it gives me that extra twinge of motivation to get my finances a hundred percent in order. Seeing people I care about scrambling, because they do not know what to do without their income is very disheartening. It is also a reality check of where I am, and what I could do better. Who wouldn't be better off with less debt and more in savings?
If you are worried about your job security or you have heard rumors of cut backs. You need to begin preparing for that possible job loss now. Begin by cutting back significantly on your budget. You do not need to go as bare bones like you would if you actually lost your job. But now might not be the time to upgrade your cable package and you may want to hold off on large purchases of more than $500.00. Additionally make sure that you pay for everything in cash.
Once you have freed up money in your budget you should work on saving more and paying down debt. This is a time when you may be better off putting a little more into savings, and a little less into debt. The reason behind this is the money in savings can prevent you from going into debt or losing your home while you are looking for work. But reducing your debt will help as well.
Finally begin looking at your resume. You can have an updated resume ready in the event you are laid off. You can also spot any holes in your resume and work on making it stronger. Taking the extra certification class or training at work, can make a big difference in getting the next job.
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Do You Want to Buy a House?
Tuesday January 13, 2009
Buying a house is a big step. Now is a great time to find a good deal on a home. Since there are so many homes on the market, you should be able to get one at much lower price than you could even a year ago. Friends and family may be urging you to buy a home now, since you can take advantage of lower housing prices.
It is important to realize that buying a home before you are ready is a big mistake. It doesn't matter how good the deal is, if you aren't ready you could end up in an awful financial situation. That is why you should be very careful when you make the biggest purchase of your life. To be truly ready you should be debt free, have your emergency fund, and have a down payment saved up. Remember that the mortgage payment should not be more than a quarter of your income. If you do this, you will not regret your purchase.
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