Archive for January, 2011

Plan to Be More Financially Fit in 2011

Posted on January 24, 2011 by Saldutti

A recent TransUnion survey on consumers’ 2011 financial goals found that two out of three consumers said they plan to improve their financial position this year. Effective budgeting, saving more and paying down credit card debt were the top three methods selected to achieve this goal. These results validate what consumers have done in managing credit card debt over the last 12 months. Tracked by TransUnion’s Trend Data, the average credit card borrower debt dropped 11.5% from the 3Q09 to 3Q10 ($5,612 to $4,964). The survey, conducted by Zogby International, also found that a quarter of the respondents had no…

Invitations to an IRS Audit

Posted on January 18, 2011 by Saldutti

It’s that time of year … Tax Season is upon us.  If you aren’t thinking about a tax audit, maybe you should be. They can be a nightmare even if you’re completely honest.  Thanks to the staggering federal deficit, the IRS is trying to close the $300 billion gap between what Americans pay in taxes and what the government thinks we should have paid. You aren’t paranoid if someone is really out get you, as the saying goes, and the IRS is out to get you. But even if you aren’t wealthy, don’t operate a cash business, and you don’t…

A Friendly Reminder: Check Your Credit Report

Posted on January 13, 2011 by Saldutti

It’s the start of a new year – the perfect time to begin to get your finances in order.  The first step should be to request a copy of your credit report and check it for accuracy.  It’s simple, it’s free and it’s crucial: Old or inaccurate information could cost you a job, an apartment or a lot of money when you borrow. The Association of Credit and Collection professionals (ACA International), encourages consumers to check their credit report for accuracy at least once per year to identify and correct errors, and spot signs of identity theft.    “Closely monitoring…

Here's to Better Financial Health in 2011 …

Posted on January 04, 2011 by Saldutti

With the fresh start of 2011, many Americans have set forth a new year’s goal to better manage their finances.  “It’s a popular goal because people tend to get in over their heads with debt and they tend to look at their situation on January first and say what can I do to really better the situation,” says Scott Hemauer, Senior Financial Advisor with Ameriprise Financial.  However this situation can quickly fall apart if an unwanted expense presents itself.  Most people don’t reserve enough money for something unexpected – costly medical bills, replacement appliances or an auto or house repair.  According…