Back to newsletter listDate:
Sun, October 15, 2006 09:00:01 PMFrom:
editor@stretcher.com
Subject:
10/16/06: The Dollar Stretcher
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The Dollar Stretcher
"Living Better...For Less"
October 16, 2006
Volume 11, Number 42
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"The Dollar Stretcher" and Dollar Stretcher, Inc. does not
assume responsibility for advice given. All advice should be
weighed against your own abilities and circumstances and
applied accordingly. It is up to the reader to determine if
advice is safe and suitable for his/her own situation.
===========================================================
In This Issue:
Introduction
Finding Compound Interest
by Gary Foreman
Exploring the value in compound interest
Impulse Buying
by Kristina Nelson
10 ways to curb that impulse
That's Outrageous!
Chase Master Card
contributed by N. S. in New York
Below Face Value Stamps
by Jeffrey Strain
Can you really buy postage stamps at a discount?
Reduce Your Restaurant Bill
by Jessica Mayo
Eliminate unsuspected costs that will drive up your bill
Tips, Quips, Quotes & Questions
On www.Stretcher.com This Week
===========================================================
Introduction
by Gary Foreman
gary@stretcher.com
Hello to all my Frugal Friends!
I'll probably misquote it, but as best I can recall there's an
old Chinese proverb that says that a journey of a thousand
miles starts with the first step. The message is that you need
to take action, however small, if you want to reach your goal.
We think that we have a way to help you do that with your
finances. For over 10 years we've been providing information
on how to take control of your finances. Beginning with this
issue we're going to do something different. At the end of
some articles we're going to include something that we call
"Take the Next Step". The idea is to provide you with one or
more action steps that can help move you towards your goal.
In the 30 years that I've been involved with managing money
I've come to believe that unless you hit the lottery (which is
actually less likely than being struck by lightning), you
won't reach your financial goals through one or two big
decisions. It's really an accumulation of many small, correct
decisions and actions that will put you on the path to
financial security. We hope that you'll try one or more of
these Next Steps and draw a little closer to your goal of
financial independence.
Please let us know what you think of Take the Next Step. As
always, part of our goal is to give you the tools that are
most useful to you. So we like to know when we're doing a good
job (and also when we're not).
Hope that you have a wonderful week!
All the Best!
Gary
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Finding Compound Interest
by Gary Foreman
Exploring the value in compound interest
I have read and heard about compounded interest as a sound
tool for saving. Other than the measly interest that you get
from banks and some credit unions, I cannot locate an
institution that offers such a thing. Are you allowed to
recommend organizations that offer good compound interest
programs at high interest?
Jennifer
Jennifer understands the value of compound interest. And,
she's right to want to use it to build wealth. But let's
review for those who aren't that familiar with it.
Compound interest is really pretty simple. If you loan money,
you expect to earn a specific amount of interest over a
specified time (for instance 4% per year). Suppose that you
leave the loan open for a second year. If your loan were
earning "simple" interest, it would earn the same rate and
amount as the year before.
But, in a compound interest loan, instead of taking the
interest you earn, last year's interest is left with the
original principal. The new interest owed is calculated on
that sum. So you're also earning interest on last year's
interest. And, that's "compound" interest.
The concept is best discovered at an early age because the
results are most impressive after long periods of time. A
dollar saved in your 20s is much more valuable than one saved
in your 50s.
Let's look at an example. We'll suppose that Jennifer had
$1,000 in savings and that she earned 4% on it annually.
Further, let's say that she left it in the bank for 50 years
at the same 4% rate and that the account wasn't compounded. At
the end of the 50 years, she'd have $3,000 (the original
$1,000 plus $2,000 in interest earned).
That example isn't completely realistic. Very few people would
leave money in a simple interest account for 50 years, but the
example is instructive because we're going to compare it to
the results earned by compound interest.
So what happens to our example if the interest is earned and
compounded annually. Jennifer's $1,000 becomes $7,106 in 50
years. You wouldn't think that earning 4% interest on a measly
$40 could make such a big difference. But it does. The
interest earned the last year alone is $273. Thank you
compound interest!
What about timing? At the end of 30 years, the $1,000 had only
grown to $3,243. That means that about 63% of the increase
takes place in the last 40% of the time. So the sooner that
Jennifer gets going the better.
Now to the meat of Jennifer's question. Where can you earn a
good compound rate of return? She's right. Bank rates aren't
that attractive. But, in fairness to them, they do guarantee
that you can't lose any money.
So where should Jennifer look? The first place is to other
banks. Banking has become more competitive. Another bank may
offer an account (and interest rate) that's better for
Jennifer.
It's also possible that she's getting the benefits of
compounding without realizing it. Consider a mutual fund
account. If you automatically reinvest any dividends, interest
or capital gains, then it's the same as getting compound
interest. Technically, it may not be called interest, but the
money spends just fine!
We don't have the time to discuss it here, but for long-term
investing, a basket of common stocks have always performed
well. Even if you happened to buy right before a market crash
(like 1929). Some experts are predicting that future returns
won't be as good as past performance, but even they expect an
annual return in the 6% or better range.
If we put Jennifer's $1,000 to work compounding at 6%
annually, it will grow to $19,935 after 50 years. Not bad for
a one-time investment of $1,000.
We won't try to pick a mutual fund for Jennifer.
Unfortunately, a single email from her can't provide enough
personal information to allow for good advice in that area,
but that shouldn't prevent her from finding one herself.
She can find an introduction to funds from the Securities and
Exchange Commission at sec.gov/investor/pubs/inwsmf.htm.
Comparisons are available at kiplinger.com and other magazines
and websites. Look for well established no-load funds with a
long past record of success.
Here are two final thoughts. It's also important to realize
that compound interest can work against you. Carrying a
balance on your credit card is a good example. So the first
way to take advantage of compound interest is to pay off any
credit card balances you're carrying.
Finally, we should note that compound interest is nothing new.
In fact, Ben Franklin promoted it centuries ago. In his will,
he left $5,000 each to the cities of Boston and Philadelphia.
Each city was to have a fund that would last for 200 years.
The money was to be loaned to needy young people at 5%
interest. After 100 years, each city could withdraw $500,000
from the fund, leaving the rest to work for the second 100
years. The cities managed to deviate a bit from Franklin's
plan, but they did clearly demonstrate the benefits of
compound interest.
______________________
Gary Foreman is a former financial planner who currently edits
The Dollar Stretcher.com website and newsletters.
Take the Next Step:
- Take a look at an Introduction to Mutual Funds from the
Securities and Exchange Commission
===========================================================
Impulse Buying
by Kristina Nelson
10 ways to curb that impulse
Impulse buying is the sudden driving force that tells you to
buy something. Stores, shops, and businesses all prey upon
shoppers who don't have the discipline to shop from a list and
use it diligently. It's easy to toss a candy bar, magazine, or
any sale item into your shopping cart. Buying an item on sale
can drastically affect a shopper's wallet. It takes discipline
to walk past items that have that flashy red clearance sticker
that's screaming for you to buy it. Here are ten tips to put a
stop to impulse buying. Several shopping mothers tell how they
prevent buying more than they intend to.
1. Don't shop. One mother from South Bend, IN shares here tip
to stay out of the stores. This tip works best for her.
2. Don't use credit cards. Vanessa from Birmingham, AL shares
this tip to leave your credit cards at home. Without credit
cards, she is less tempted to buy more than she needs, which
keeps her debt free.
3. Make a "wish list." Tami in Portland, OR is most tempted to
by lower cost items, while her husband is most tempted to buy
higher priced items. They each keep their own wish list of the
items they would like to buy. They mark the date next to each
item on their list and re-check their list after one month.
Tami also shares her tip that after one month an impulse item
will lose its appeal.
4. Wait a day. Christi from Newman, GA waits a day or two
before she buys an item that she wishes to purchase. By doing
this, she can make clearer and better purchases for her
family.
5. Carry cash only. One mother shops with cash only. She
suggests leaving the credit cards and even the checkbook at
home to prevent over spending or buying items that are not on
her list. When she goes "window" shopping, she leaves home
with only her driver's license.
6. Pray. Several women said that they pray before buying
anything, asking God for guidance before and during each
shopping trip. Becky from Indiana states, "Yes, I'm well aware
of the fact He is always guiding me. I just need the reminder
to follow"
7. Possess one credit card only. One family puts a stop to
overspending and buying by having only one credit card. They
restrict the use of it to purchasing gasoline and buying by
mail order.
8. Stash leftover cash. Only put enough money in your checking
account to purchase the necessary items or pay bills. Deposit
the remainder into a savings account. This will keep you from
spending money on items that you don't need.
9. Create a shopping budget. Keep your shopping limited to a
set dollar amount. One mother suggests this tip to keep
spending down. She also checks sales flyers before making out
her shopping list.
10. Shop with a list. A popular tip from almost every mother
that answered this survey suggested to write out a shopping
list and use it, crossing off items as they are bought.
Married couples offered tips to make joint agreements when
purchasing a high cost item. For example, one couple has an
agreement that they are not to purchase any item over fifty
dollars without consulting each other.
Many shoppers love to shop clearance year round and actually
make it a hobby. To keep this spending under control, simply
follow the tip for creating a shopping budget and allow
yourself to only spend a certain amount on clearance items.
This works well for the avid shopper who buys birthday and
holiday gifts ahead of time.
===========================================================
That's Outrageous!
Chase Master Card
contributed by N. S. in New York
My daughter has held a Chase Master Card for three or four
years, since she was a college student. When she opened the
account, the interest rate of 19.8% was presumably fixed. She
worked at only part-time jobs and was a full-time student at
the time of opening the account. She graduated last spring,
got a full-time job, new car loan, and paid three or four
times the minimum payment on her credit cards for several
months. In December last year, she purchased a laptop
computer, which she put on the card, and the next month she
paid the entire amount for the computer plus more than double
her minimum payment. At that time, her interest rate was
increased to 26.99%. She was not aware of it until recently,
much to her disappointment. She called the company today and
was told that they had sent her a letter stating this would
happen. Chase left this punitive rate on until her call. She
never made a late payment nor exceeded her credit limit. She
was simply penalized for using her allowable credit line.
Today, when she requested a lower rate, she was given 9.99%
fixed. For months, they profited over her lack of vigilance to
the tune of 17% interest! And it shows that calling a creditor
can indeed result in a lower rate. Her balance is now low
enough that she plans to pay it off, and then use it only for
purchases she will pay off the following month in order not to
incur finance charges. She won't close the account because she
needs the longevity of the account on her credit history. Let
the buyer beware!
_____________
Now it's your turn! Just send mailto:outrageous@stretcher.com
and tell us what drives you crazy! You'll feel better for
venting!
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===========================================================
Below Face Value Stamps
by Jeffrey Strain
Can you really buy postage stamps at a discount?
One area where many people don't realize that they can save
money is with postage stamps. If you send a lot of mail,
postage stamps can cost quite a bit of money. There is a
simple way to get postage stamps at below their face value.
Discounts can be 3% to over 10% below face value depending on
the number of stamps you purchase.
The first question you're probably wondering is why would
anyone want to sell stamps at less than their face value?
Stamp dealers buy huge lots of stamps at estate sales, stamp
auctions and from other stamp dealers going out of business.
Among the valuable stamps the dealers want are large numbers
of unused stamps that have little or no resale value to stamp
collectors. In order to quickly get rid of these stamps and
get back some of the investment they put into the lots of
stamps they purchased, dealers are willing to sell them at
under face value.
The stamps are postage stamps issued by the US government and
can be used to send any item through the postal system. Some
may be older (even 50 years old), but all are still perfectly
legal to use. In fact, if you like having your letters or
packages stand out, they are fantastic as many of the stamps
are no longer in production and are rarely seen on postage
today making the mail you send instantly recognizable.
There are a few issues that you should realize when buying
stamps like this at below face value:
Requests: In most cases, you can't request a specific value
stamp. Some dealers will simply state the total value of the
stamps while others may tell you the general values of the
stamps in the lot (for example, all stamps range in price from
5 cents to 20 cents). If you want specific valued stamps (for
example, all 10 cent stamps), you can usually get an
interesting assortment, but you'll usually have to pay face
value for them.
Minimum Amount: When buying the postage stamps at a discount,
there is usually a minimum order. Most dealers sell the
postage stamps in $100, $200 and $500 lots, although you can
find a $50 lot of low denomination stamps from time to time.
The more expensive the lot, the bigger discount under face
value you'll usually receive.
Disadvantages: If you send mainly packages, then there isn't
usually a problem of space. If you only send letters, however,
low value stamps can take up a huge amount of space on the
letter face. While many will find this fun and interesting, it
may also look unprofessional if your mail is mostly sent for
business.
If you are interested in getting these lots of below face
value stamps, there are a few ways that you can do so. You can
look for advertisements in stamp collecting periodicals (your
local library may carry one or two of these), which will
usually contain offers for below face value stamp lots. You
can also find the stamps at below face value being sold on
Internet at places such as www.hgitner.com/postage.html. For
those living in the United Kingdom, you can find discount
stamps at www.stamp-shop.com/postage.html. With the advent of
online auction sites, you can also find stamp lots at below
face value on sites such as eBay.
If you use a lot of stamps and know that you'll be using them
all, getting stamps at below face value is a great investment.
You get a guaranteed rate of return higher than you can find
with any checking account, and you'll get to put on a lot of
interesting stamps with all your mail.
_____________________________________
Jeffrey Strain is the owner of www.savingadvice.com - a
website dedicated to saving you money and also writes the
daily updated blog at www.pfadvice.com.
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Reduce Your Restaurant Bill
by Jessica Mayo
Eliminate unsuspected costs that will drive up your bill
Going out to eat can be a costly pastime, but it's a well-
deserved treat even for those on a frugal budget. You can
minimize the shock when you get the bill by being aware of one
of the highest unsuspected costs on the menu: drinks. Many
restaurants don't even include prices next to their drink
offerings, so diners unsuspectingly add almost half or, in the
case of alcohol, over half of their meal price in order to
quench their thirst. Dining out should be a pleasant
experience, not one filled with regret over the unexpected
cost. Consider these tips the next time you're eating away
from home.
- Drink water. If you don't like the taste, ask for a slice or
two of lemon. It can improve almost any quality of water. If
you happen to be traveling abroad, make sure you're getting
tap water; some restaurants charge insane amounts for a glass
of mineral water.
- Refuse refills. If you are ordering a drink other than
water, find out if there are free refills. If not, ask that it
be brought out with the food, not before. Refills get
expensive. You can also cut down on the need for refills by
using water to quench your thirst and your other drink for
taste.
- Bring your own wine. Nice restaurants charge anywhere from
$5-$15 for a single glass of wine. Unless you're a true
connoisseur, that's $5-15 for a glass you might not even like!
Bottle prices vary widely, but they're almost always more
expensive when bought in the restaurant than beforehand. If
you have a bottle of your own that isn't too expensive, you
may be better off paying a corking fee. Do a little math ahead
of time.
- Save with sobriety. Think about skipping alcohol completely.
It's never cheap, but buying a case at the store and having a
bottle when you get home is sure to beat the price at the
restaurant. That said, if you decide to drink before going
out, make sure you have a designated driver.
- Prioritize. Which is more important to you? Getting a
specialty drink or having dessert? If you want to splurge, do
so in moderation. Don't buy impulsively. Decide ahead of time
and avoid the guilt.
- Be wise about size. Yes, it is cheaper per ounce to buy
larger sizes. But if you are not going to drink it all, or if
you are eating at a restaurant with free refills, it really
isn't worth the extra quarter.
- Order to go. At fast food restaurants, you're sure to save
if you order your meal to go and help yourself to a drink from
your own refrigerator.
Saving money when dining out may seem like a contradiction; if
you want to save money, stay home. But eating at a restaurant
is a great way to reward yourself for a well-kept budget, and
it's a common way to celebrate birthdays and other special
events. But don't leave all of your money saving tips at home.
Saving on drinks can really add up. You can plan another night
out just from your savings on a couple meals!
Take the Next Step
- Find out more ways that Fine Dining can be frugal
- Put only the cash you are willing to spend on your meal in
your wallet then go have a great time!
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Tips, Quips, Quotes and Questions
*********
Can You Help This Reader?
*********
Investing While In College
My question is about investing while still in college and/or
grad school. I'm a college student about to graduate in
December and go to grad school next fall. I expect to have a
tuition waiver and teaching/research assistantship to support
me through grad school. Currently, I don't have any student
loans, credit card debt, or a car payment and I live at home
for the time being.
What would you advise me to do with my savings? Should I keep
investing in short term accounts like CDs and money markets or
begin investing long term in stocks and bonds? I'm already
thinking about saving for retirement and I've had an IRA for
two years. Should I wait until I'm out of grad school or
should I begin even now?
Thanks,
C.
Please send your answers mailto:CanYouHelp@stretcher.com with
"College Investing" as the subject. We'll include the best
solutions in future issues.
*********
Yes, We Can Help This Reader
Taking In a Roommate
*********
My husband and I have taken in three housemates to go along
with our three extra bedrooms. This has allowed us to
comfortable afford a house payment on one income while being
students. My suggestions are that everyone has at least one
chore that is part of the household cleaning in main living
areas and that a schedule is created for kitchen and laundry
privileges. We have been doing this for almost a year and it
has been great. They pay $750 of our $950 mortgage!
Amy
editor's note: more suggestions, including warnings, about
taking in a roommate or housemate at
*********
Success With Banks
My mother taught me from an early age that I should never put
anything on credit cards unless I knew I could pay it off when
the bill came due. She is in her middle 70s and this is how
she was taught to manage money. Her mother struggled through
the Great Depression and learned the hard way how dishonest
banks can be. They never trusted them. This is the way my
mother's generation was raised and she had me very late in
life. They always paid cash for things and waited and saved if
they did not have the money for something they wanted. What a
concept!
She always taught me to use credit cards as a float on my
money but never to rely on it as anything else. Let the banks
loan you money for a few weeks, but then pay them off! I am
now in my 40s and have followed my mother's advice. Boy, am I
glad she taught me that lesson. Neither my husband nor I have
ever carried a balance on our cards and we are teaching our
children the same lesson.
I am not a bank's dream customer because of this. They can't
make money off me. But I can tell you this, my husband and I
have never had a problem getting credit of any kind and our
credit score is clean and way above average. It is in every
bank's best interest to encourage debt. They want us to be
under their control and they have done a very good job of
marketing their scheme to our generation! I am afraid that we
are going to be the next generation that falls on our face
with much heartache, just like our grandparents did during the
Great Depression. We always forget to look to the past and
learn. Avoid the trap of credit card debt like the plague!
ChaRene
*********
Hard v. Soft
How much detergent you need is often a question of how soft or
hard your water is. Softer water is going to require less
detergent. The same is true for any detergent, soap, shampoo,
etc. However, there is another thing to note with respect to
dishwashers. If you have hard water, the best detergent to use
is the powder. The gel was made for soft water. I had a friend
who complained her dishwasher wasn't working very well to get
her dishes clean. I gave her this information and she hasn't
had a problem since!
Donna in Raleigh, NC
*********
From Halloween to Christmas
Last year after Halloween, I went to my local Wal-Mart where
they had all the Halloween costume items on clearance. It was
mostly loose pieces that had gotten separated from the rest of
the costume and they were selling them for 25 to 50 cents
each. I bought knight items, soldier items, masks, swords,
hats, and belts as well as pirate and mummy pieces. I took all
this home and put it away until Christmas. My son got a huge
box of dress up clothing and accessories as one of his
Christmas presents that I got for around $10.
Celeste
*********
Become a Dollar Stretcher "tipster" by sending your time and
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tip in any of our publications, we'll send you the next three
issues of our print newsletter as a "thank you."
Receive Dollar Stretcher Tips twice each week. More great
ideas for saving money! Just send
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===========================================================
On www.Stretcher.com This Week
editor's note: Hotmail and WebTV users may have trouble with
some addresses. Please access them from our front page
Your Money
----------
Finding Compound Interest
by Gary Foreman
Exploring the value in compound interest
Story Here - http://www.stretcher.com/stories/06/06oct16b.cfm
Impulse Buying
by Kristina Nelson
10 ways to curb that impulse
Story Here - http://www.stretcher.com/stories/06/06oct16c.cfm
My Story: Addicted to Debt
contributed by Kim in Texas
Going from 'high' to low
Story Here - http://www.stretcher.com/stories/06/06oct16g.cfm
10 Ways Uncle Sam Helps You Save Money
Saving for the future is of paramount importance to all
Americans. Luckily, we all have a rich uncle to turn to for
some help. His name is Uncle Sam
Story Here - http://www.stretcher.com/brm/06/06oct07a.htm
Fame & Fortune
The Superman of TV trivia 'Brainiac' Ken Jennings now prefers
writing books over "daily doubles"
Story Here - http://www.stretcher.com/brm/06/06oct07c.htm
Boosting Your Post-Bankruptcy Credit Score
Although bankruptcy causes severe and lasting damage to your
credit score, a few simple tricks can help send the number
back up
Story Here - http://www.stretcher.com/brm/06/06oct07d.htm
6 (Worthless) Excuses for Not Saving Money
And how to bust them. Anyone can save money if they choose
Story Here - http://www.stretcher.com/brm/06/06oct07e.htm
Person-to-Person Lending Offers Reward, Risk
Cutting out the middleman on a loan can offer high returns,
but you're taking a chance
Story Here - http://www.stretcher.com/brm/06/06oct06a.htm
Are You Financially Flummoxed?
Take this quiz to find out if you have your financial
priorities straight
Story Here - http://www.stretcher.com/brm/06/06oct07h.htm
In Debt? Get Out in 3 Hard Steps
Create a spending plan, build an emergency fund and then
aggressively whittle down that debt
Story Here - http://www.stretcher.com/brm/06/06oct07j.htm
Top 8 Places to Stash Your Cash
Got money to save but don't know exactly where to put it? Try
our interactive guide to the pros and cons of your best
choices
Story Here - http://www.stretcher.com/brm/06/06oct07n.htm
Will Contactless Payment Cards Connect?
Card companies are pushing these swipe-free cards, which use
low-frequency, short range radio waves to speed transactions.
Consumers and merchants aren't so sure
Story Here - http://www.stretcher.com/brm/06/06oct07p.htm
Would You Use a Contact-Free Payment Card?
Sure they're a speedier way to buy a Slurpee or get past a
turnstile, but do you trust them? And are they worth the
bother?
Story Here - http://www.stretcher.com/brm/06/06oct07q.htm
Index Funds as a Core Holding
The average S&P 500 index fund beat 74 percent of actively
managed funds over the past decade. Yet the debate about the
superior way to invest rages on
Story Here - http://www.stretcher.com/brm/06/06oct07r.htm
Reopening an Old Account to Improve Credit
Credit history counts, so it is worth a try
Story Here - http://www.stretcher.com/brm/06/06oct08a.htm
Paying Early Withdrawal Penalty to Reinvest
Use our calculators to figure it out
Story Here - http://www.stretcher.com/brm/06/06oct08b.htm
Cashing Bonds to Pay Off Credit Cards
It's OK if you rebuild your savings, but not if you don't
Story Here - http://www.stretcher.com/brm/06/06oct04a.htm
Your Family
-----------
Raising Teens on a Tight Budget
by Nigel ***, The TeenCoach
Let's face it, raising teens is expensive!
Story Here - http://www.stretcher.com/stories/06/06oct16f.cfm
Home Learning Activities
by Ruth Schiffmann
Keep your children thinking and happy
Story Here - http://www.stretcher.com/stories/06/06oct16h.cfm
10 Frugal, Healthy Halloween Treats
Thrill the trick-or-treaters with these fun and healthy treats
for their goodie bags
Story Here - http://www.stretcher.com/brm/06/06oct07k.htm
Your Home
---------
Sharing Costs With a Housemate
Could taking in a housemate relieve her budget?
Story Here - http://www.stretcher.com/stories/06/06oct16a.cfm
Make the Most of the Buyer's Market: 4 Tips
Sure, prices are dropping, but that's not always enough to
land you the home you really want at the price you can pay
Story Here - http://www.stretcher.com/brm/06/06oct07m.htm
Option ARM Won't Solve Your Problem
It will lower your payments by increasing your debt
Story Here - http://www.stretcher.com/brm/06/06oct06b.htm
What Is a Mortgage Accelerator Payment?
It's a biweekly mortgage, but why would it tie to a home
equity loan?
Story Here - http://www.stretcher.com/brm/06/06oct05a.htm
Your Career or Small Business
-----------------------------
Buying a Business?
Better do your homework It can be rewarding, but you should
like what you're doing
Story Here - http://www.stretcher.com/brm/06/06oct07f.htm
Your Food
---------
Reduce Your Restaurant Bill
by Jessica Mayo
Eliminate unsuspected costs that will drive up your bill
Story Here - http://www.stretcher.com/stories/06/06oct16e.cfm
Your Auto
---------
Weak Alternator
Ask Bob: The Auto Answer Man
Story Here - http://www.stretcher.com/stories/06/06oct16j.cfm
Your Taxes
----------
Challenging Independent Contractor Status
Whether you are an employee or independent contractor depends
on the amount of direction and control the firm exercises over
you
Story Here - http://www.stretcher.com/brm/06/06oct08c.htm
New Rules on Charitable Donations
To claim a deduction, the clothing or household items you
donate must be in good condition or better
Story Here - http://www.stretcher.com/brm/06/06oct08d.htm
New Rules for Inherited IRAs
Beginning next year, you can defer withdrawing inherited IRA
funds until you reach age 70 1/2
Story Here - http://www.stretcher.com/brm/06/06oct08e.htm
Eligibility Rules for Traditional IRA
If you contributed to an employer's retirement plan for part
of the year, you can still contribute to an IRA. But it may
not be deductible if your earnings exceeded certain limits
Story Here - http://www.stretcher.com/brm/06/06oct08f.htm
Everything Else
---------------
Impulse Buying
by Kristina Nelson
10 ways to curb that impulse
Story Here - http://www.stretcher.com/stories/06/06oct16c.cfm
Below Face Value Stamps
by Jeffrey Strain
Can you really buy postage stamps at a discount?
Story Here - http://www.stretcher.com/stories/06/06oct16d.cfm
10 Alternative Ways to Cut College Costs
Scholarships and grants aren't the only ways to cut college
costs
Story Here - http://www.stretcher.com/brm/06/06oct07b.htm
Poll: How Hard Is It to Opt Out?
Sure, the law says you can tell your bank not to sell your
name to junk mailers. But how easy is the process?
Story Here - http://www.stretcher.com/brm/06/06oct07g.htm
Readers' Tips
Story Here - http://www.stretcher.com/stories/06/06oct16t.cfm
===========================================================
Decision-Making Tools
For Your Home
-
Rent or Buy Your Next Home?
-
Mortgage Calculator
-
15-Year or 30-Year Mortgage?
-
Fixed or Adjustable Rate Mortgage?
-
Mortgage Points Adviser
For Your Car
-
How much car can you afford?
-
Buy or lease your next car?
-
Your next car: New or used?
-
Auto Loan Calculator
-
Is a hybrid car right for you?
===========================================================
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