YOUNG MONEY TALKS » Students, Credit Cards and Debt

Keep Your Heating Bill Down

Ben Levy — Mon, 18 Jan 2010 17:59:38 +0000

Consumer Reports recently posted 10 ways to keep your heating bill costs down this winter:
1. ”Lock in your price for natural gas or heating oil.”
2. ”Check for federal tax incentives” and the “cash for clunkers for appliances rebate program.”
3. Try for a free energy audit — or “hire a reputable firm”.
4. Check “easy-to-correct problems”, such as “changing or cleaning furnace filters and dusting heat registers or baseboard radiators…”
5. Consider space heaters and electric blankets.
6. Check out the “federal government’s pending cash for caulkers program.”
7. ”Keep heated air inside your home and conserve energy.”
8. ”Insulate your attic and minimize the stack effect.”
9. ”Buy an effective programmable thermostat and install it yourself.”
10. Consider a “tankless water heater or a solar water heater.”

(You can find the above tips at TipHero.com.)

Everyone should try the Home Energy Saver Calculator to see how much other people are spending in your area and how much money you can save.

More easy things you can do to lower your heating costs:

Add attic insulation (this can lower costs 5 to 30% – U.S. Dept of Energy)
Drop temperature a few degrees (each degree saves about 3%) – consider dropping it when no one is home or at night
Seal holes, look for holes where heating and water pipes emerge, around windows and doors and anyplace you feel a draft
Insulate water pipes (slip-on pipe insulation is easy), you can also wrap a special energy-reducing blanket around your water heater, this reduces energy lost in transport and storage
Consider installing energy efficient windows, storm windows or shrink wrapping plastic sheets on windows you rarely open

Here’s another bonus to making your home more energy efficient, according to a study by the Appraisal Institute every dollar saved off your energy bill from home improvements can add $20 to the resale value of your home.

Housing Tax Credits for First Time Home Buyers

Ben Levy — Mon, 18 Jan 2010 17:38:39 +0000

The Housing Tax Credit Will Not Be Extended a Third Time

The housing tax credit gives first time homebuyers $8000, and move-up buyers $6500. However, buyers must sign a contract by April 30th and close by June 30, 2010 to qualify.

Now is the time to start thinking seriously about buying a home.

According to the LA Times, “Proponents of the $8,000 credit for first-time buyers and the $6,500 credit for move-up buyers made it clear during the debate on Capitol Hill that the benefits would not be renewed when they expire. And a lobbyist for the National Assn. of Realtors confirmed that at the group’s annual convention last month.”

This may be your last chance to get these tax credits.

Jon Stewart Keeps The Big Boys Honest

Ben Levy — Wed, 13 Jan 2010 03:26:57 +0000

While watching The Daily Show I’ve often wondered: Why don’t all traditional news agencies dissect politicians, businessmen and other talking heads the way Jon Stewart does? If it is their job to report the news they shouldn’t just phone it in, as they say. In my opinion, holding people accountable for the “facts” they espouse to the rest of the world should be at the core of their job. And, to be fair, some newspapers still do.

It seems that people enjoy this type of reporting, programs like The Colbert Report and The Daily Show are actually taking the place of more traditional news outlets. “Thirty-two percent (32%) of adults ages 30-39 believe this to be true, while 42% disagree,” according to a Rasmussen Report survey. If you enjoy Jon Stewart, you will enjoy this article written about him at NPR.org.

Ever wonder how your local movie theater makes money?

Ben Levy — Sat, 02 Jan 2010 21:18:35 +0000

The answer is alternative revenue sources like commercials before the show starts. If you’re like me you hate commercials. And you may have noticed that there are more commercials prior to that new movie you are about to watch. Love ‘em or hate ‘em they are keeping that theater in business. That’s also just the tip of the iceberg. Theaters are even showing sporting events in some cases. If you ever wondered how this part of the movie business works, read this great article about the movie biz. Super Bowl XLIV anyone?

Vacations to Warm Locations

Ben Levy — Wed, 30 Dec 2009 14:08:12 +0000

So, if you’re like me, the bitter cold that has settled in the Northeast is beginning to get a bit old.

Making this a perfect time to take a vacation.

The problem is that vacations are expensive. However, if you search, you can find good deals on vacations and get away this winter without paying too much money. Recently I’ve discovered a great website which offers huge discounts on cruises to just about anywhere, from just about anywhere. Ok, so you do need to be near water. But, if you live on the Eastern or Western seaboard of the United States you can find a cheap cruise. Just visit Vacations To Go to find all the best cruiselines with heavy discounts.

I know, it sounds too good to be true. However, there’s a reason it’s not: last minute deals. If you are flexible enough to book within 2-3 months of the time you wish to travel, you can find a great deal. One last piece of advice: Be careful about how much you drink on a cruise (booze is not included in the quoted price). Some say you should sneak your own alcohol onto the ship, but I’d never advocate that.

Happy traveling.

Warren Buffett: Stock Market is Not Expensive Right Now

Ben Levy — Mon, 21 Dec 2009 15:06:56 +0000

Video: An interview with Ben Stein on Fox where Mr. Stein summarizes Warren Buffets view on things right now. Interesting. One big take away is that[Warren Buffett] does not think the stock market is overvalued at this point. And he even thinks America will be a much richer country in 20 years! Perhaps he’s just an eternal optimist.

2009’s Dumbest Moments In Business

Ben Levy — Thu, 17 Dec 2009 15:09:28 +0000

CNN Money.com has decided to provide us with a fun list of the biggest bonehead moves in 2009. Here’s the list:

Chrysler axes their dealership network through the press
People trade a worthless GM stock
U.S. Debt is safe, according to Geithner
Avaya pays man who doesn’t work for Avaya
Credit Card law passes but doesn’t actually take effect
Silverdome sells for 1/10 the cost to build it
Man tries to sue USA for more than its worth

Read the entire list of dumb moments.

Thanks for the Home Sales Boost, Uncle Sam

Todd — Mon, 02 Nov 2009 16:26:35 +0000

According to Realtor.org pending home sales have risen for the 8th straight month. That seems like a good sign, right? Well maybe it is. But if its been fueled by our tax dollars or government breaks perhaps its not.

You Can Walk Away from a Mortgage (there is no shame)

Daniel — Thu, 15 Oct 2009 12:27:17 +0000

I just read an article this morning that I think should be read by anyone who is having trouble with paying their mortgage or concerned that they might soon have trouble. It was written by Mark Gimein of “The Big Money” and you can read it here.

If you don’t have time to read the article know this: Yes, you should always try to live up to your obligations and fiduciary responsibilities. But if you can’t, there is no shame in it; live, learn and be smarter the next time.

“A solid two years into the housing bust, the national foreclosure wave doesn’t show the least signs of abating. Banks that had called a foreclosure moratorium are now back to the business of taking back properties, and the foreclosure numbers are again at record highs. As the foreclosures rise, so too does the criticism of “walkaways” who hand the keys to their drastically devalued houses back to the bank.” Read the rest of the article.

Make Money Online: Take the Young Money Challenge & Earn Cash

cara — Mon, 12 Oct 2009 15:40:37 +0000

A recent poll by YoungMoney.com found that only 24 percent of people felt they have a decent knowledge of personal finances.How much do you know about finances? Do you think that you can answer 15 questions about money?

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