Posts Tagged bill
Turnaround In U.S. ISM Contradicts Analysts Best Guess
Posted by Oksana Grebenjuk in Fund Markets on Ноябрь 4th, 2010
Fixed income trading got off to a blistering start in a week where news events are likely to determine the fortunes for bond prices for the remainder of 2010. The first in a series of critical surveys showed the Chinese manufacturing expansion continued and is likely to be followed by more of the same around the world extending also to the service sector.
And while the diffusion indices are a positive influence on risk sentiment they will not be enough to stop more quantitative easing from either the Fed or the Bank of England. Markets continue to rally ahead of the FOMC statement precisely because the central bank’s action is a growth-positive event. On Friday the October jobs report may yet show a deeper thaw in the labor market if the latest initial claims reports are anything to judge by.
Eurodollar futures – The December 10-year note futures contract has erased an initial 10-tick gain, currently sitting at 126-10 to yield 2.61%. The manufacturing sector picked up steam throughout October with the ISM survey rising further into expansion territory rather than falling. The FOMC’s two-day meeting starts on Tuesday and markets may be slow until then. For now the bias is towards lower yields in anticipation of a large amount of quantitative easing. Ever since the Fed said it would survey market participants over their sense of direction in light of the magnitude of the actions of the central bank, dealers have geared up for more rather than les. Eurodollar futures have also pared earlier gains once again with implied yields now higher lower by a couple of pips across the curve. Read the rest of this entry »
Five Lessons From Your ’09 Tax Return
Posted by Oksana Grebenjuk in Budget, Favourites on Апрель 15th, 2010
Your 2009 taxes are done. Congratulations! But you’re not done yet. (Sorry.) While you have all your 2009 tax forms and documents handy, this is the perfect time to analyze last year’s finances and use those insights to lower your taxes in 2010 and beyond.
The sooner you get started, the more you can save. So, take a big breath and then take these five steps:
1. Avoid a Big Tax Refund
You think you love getting a tax refund. What’s not to like about found money? But a refund is really just the return of a year-long, interest-free loan that you extended to your spendthrift Uncle Sam.
You can do much smarter things with that money, like putting it into a retirement plan or a college savings fund. So if you will be receiving a 2009 refund of more than a few thousand dollars and you’re an employee, adjust your withholding at work. If you’re self-employed, lower your quarterly estimated tax paymentsaccordingly.
If your 2010 income will be less than $75,000 ($150,000 if you’re married and will file jointly), be sure your tax withholding has been properly adjusted for the new Making Work Pay Tax Credityou’re entitled to receive this year. This credit (up to $400 for singles and $800 for couples) should be reflected in the amount of taxes taken out of your paycheck. But you may need to submit a revised W-4, especially if you’re holding down multiple jobs or you’re married, since your employer wouldn’t know about your extra work or your spouse’s income. Read the rest of this entry »
How to Fix Your Finances in 2010
Posted by Oksana Grebenjuk in Budget on Март 4th, 2010
Still mulling over your New Year’s financial resolutions? — David Laibson, a Harvard University economics professor, has one for you—one that many of us may wish we’d made last year.
«Promise that you’ll never try to time the market again,» he suggests, a not-too-subtle gibe at the many investors who sold their stock in the depths of the downturn early this year and then missed the huge rally that followed.
That’s not the only thing many of us could afford to improve. We would also like to save more, earn more and spend more wisely in 2010. But despite the fresh promise of a new year and a new decade, tackling all our goals at once can be overwhelming.
So to help you accomplish your many New Year’s ambitions, here’s a year’s worth of personal-finance aspirations, timed to major holidays to raise your chances of success: Read the rest of this entry »
Banks Apply Pressure to Keep Fees Rolling In
Posted by Oksana Grebenjuk in Banks on Февраль 22nd, 2010
For many households trying to improve their finances, tossing out pitches from the bank has become almost automatic. But in recent weeks, Chase has been fanning special letters out to consumers with an offer that it urges them not to refuse.
“Your debit card may not work the same way anymore, even if you just made a deposit. Unless we hear from you,” the message, emblazoned in large red type, warns. “If you don’t contact us, your everyday debit card transactions that overdraw your account will not be authorized after August 15, 2010 — even in an emergency,” with “even in an emergency” underlined for emphasis.
As the government cracks down on the way banks charge fees for overspending on debit cards, the industry is mounting an aggressive campaign aimed at keeping billions of dollars in penalty income flowing into its coffers. Chase and other banks are preparing a full-court marketing blitz, which is likely to include filling mailboxes with various aggressive and persuasive letters, calling account holders directly, and sending a steady stream of e-mail to urge consumers to keep their overdraft service turned on.
Starting this summer, banks must get consumers to agree, or “opt in,” to a service covering purchases on a debit card when there is not enough money in their account. The Federal Reserve has ordered the same restriction for banks that want to let people withdraw more than their balance at an automated teller machine. Many banks now automatically provide such coverage for fees of up to $35 or more. Read the rest of this entry »
Are You Eligible for Recovery Tax Credits?
Posted by Oksana Grebenjuk in Budget on Ноябрь 5th, 2009
Weatherizing your home not only helps lower energy bills, but can also qualify you for tax credits under the government’s economic stimulus plan.
Learn more about getting your government grants.
Heading into the winter weather season, families are challenged with the basic need of heating the home. But the economic crisis has many Americans wondering if they can afford to ratchet up the thermostat. The fact is many do not have the money to spend.
Fortunately, the added expense of home heating can be partially offset by tax credit programs the government put in place through the American Recovery and Reinvestment Act this year.
One of those programs is the Nonbusiness Energy Property Credit. This tax incentive gives money back to people who buy eligible energy-saving improvements for the home. This includes efficient heating and air conditioning, water heaters, and stoves. The cost of installing such appliances may also be credited. Other weatherizing equipment such as insulation, windows, and doors that increase energy efficiency also trigger the 30% tax credit. Read the rest of this entry »
College Costs Add Up — Before You’re Even Accepted
Posted by Oksana Grebenjuk in Budget on Сентябрь 21st, 2009
Shopping for college gear is expensive, but shopping for a college itself can cost nearly as much.
Guide books, application fees, charges for taking standardized tests, charges for sending said test scores to schools and actually visiting the schools in question can easily cost the families of college-bound students a few thousand dollars. While some of those costs are unavoidable, there are ways to trim expenses without hurting Junior’s chances of getting into Favorite State University. Here’s how:
One inevitable expense families incur when on the college hunt comes from exams, as most colleges require a score from at least one standardized test. Registration for the SAT and ACT costs $45 and $32, respectively. Students are allowed to send SAT scores to up to four schools for free but must shell out an additional $9.50 for each school after that (plus $27 for rush reporting); the ACT charges $9-$13.
Students with extraordinary need (those who receive free or reduced-cost lunches at school) can contact their college counselors about obtaining fee waivers. John Boshoven, counselor for continuing education at Community High School in Ann Arbor, Mich., recommends other needy students ask their schools to forward test scores to colleges along with official transcripts. High schools get the scores automatically, and some universities will accept those scores as “official.” Read the rest of this entry »
Can a Credit-Card Company Cancel Your Card and Not Tell You?
Posted by Oksana Grebenjuk in Banks, Favourites on Июль 17th, 2009
In the last few months, we’ve heard from plenty of readers that not only are their cards being canceled, but they’re also finding out the hard way: At the cash register while trying to make a purchase.
Over at Consumerist is the tale of Joey, who saw four (yes, four) of his Chase cards canceled. Plus, his Chase Freedom rewards are no more.
From Joey’s letter:
The rep told me my card had been canceled. Not only my Freedom card, but also my 3 other Chase credit cards (I use them for different rewards). I told him it was outrageous that I hadn’t received any early notification, and all he could say was that I would be getting something in the mail soon. I asked why my cards were canceled, and his response was that I had too many loans out so Chase considered me a risk. For the record, I do have loans that I’m paying off — my student loans and the loan on a recently purchased house. However, I’ve always paid the balance on my Chase credit cards in full every month and rarely ever am I late (the last time was at least 6 months ago). Nothing in my history with them would cause them to think I would not pay my bills. The rep couldn’t do anything for me so I asked to speak to a supervisor. I was told they were busy and that one would call me back. No one has since. Read the rest of this entry »
Is Paying for Your Kid’s Education Still a Top Priority?
Posted by Oksana Grebenjuk in Budget on Июнь 2nd, 2009
In a perfect world, we wouldn’t have to rank one financial priority over another.
But now, more than ever, Americans are faced with many tough financial trade-offs. Paying off debt or saving for retirement? Raiding the 401(k) to pay the bills or putting them on a credit card? Trying to slog it out with a tough mortgage or walking away from a home?
New survey data from Country Financial highlights some of the tension parents are face when it comes to juggling their stressed retirement accounts and the ballooning cost of higher education for their kids.
Forty-seven percent of the 1,241 surveyed said that their children’s college plans are a higher priority than retirement savings, whereas 41% said that retirement savings came first. A majority (61%) said that the recession was not going to impact their plans for their children’s college education. Considering all of the belt-tightening — both from families and financial-aid offices strained by anemic endowments — we’ve heard about in the last few months, this is particularly astonishing. In spite of one of the worst economies in generations, parents say they’re still willing to shell out a lot for college education. Read the rest of this entry »
New Rules of Credit Card Debt
Posted by Oksana Grebenjuk in Banks, Favourites on Апрель 16th, 2009
Personal finance gurus usually treat credit card debt as the plague and urge consumers to pay it off. But this week, Queen of Personal Finance Suze Orman announced on The Oprah Winfrey Show that the old advice is wrong. The recession has made job loss so prevalent, she says, that consumers now need to make creating an emergency fund with eight months worth of expenses their top priority.
«If you have an unpaid credit card balance [and] not much saved up in emergency savings, I need you to listen up. My advice has changed. I want you to only pay the minimum due on your credit card balance, and instead, make it your top priority to build as much of an emergency cash fund as you can,» Orman said on the program.
Telling her fans not to prioritize paying off credit card debt is quite a shocker since her focus has long been about getting out of debt. In her latest book, 2009 Action Plan: Keeping Your Money Safe & Sound, she dedicates an entire chapter on the subject. But Orman says that now, with the number of unemployed Americans rising, having an emergency savings fund is even more important than being debt-free.
«The sad reality is that the credit card industry is taking actions to protect themselves with no regard to your needs or how good you have been in paying your bills on time,» she said, referring to the fact that credit card companies have been lowering credit limits, increasing interest rates, and revoking credit cards altogether. Read the rest of this entry »
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