Archive for August, 2012

Money Talks – Financial Lessons for Kids

Posted on August 23, 2012 by Saldutti

The kids are getting to be that age – they’re starting to ask personal questions.  They need to know the truth. It’s time to have “the talk”- not about drinking, drugs or even the birds and the bees. We’re talking about dollars and cents.  According to a recent T. Rowe Price survey, most parents would rather talk to their kids about smoking, drugs or bullying instead of their own family finances. But, the truth is, the kids would rather hear about saving and how to make more money. Nearly a third of parents admitted they avoid talking to their kids about family…

Saldutti Law, LLC Named Among Top Firms Once Again

Posted on August 23, 2012 by Saldutti

Cherry Hill law firm, Saldutti, LLC, is pleased to announce that it has been named one of SJ Magazine’s Top Firms again this year.  The firm’s principal, Robert Saldutti, was recognized for excellence in his area of practice – Debt Collection.  Award winners were selected based on nominations by their peers in the New Jersey legal community. SJ Magazine reached out to local lawyers and asked them which of their peers would they choose to go to battle for them. After tallying the votes, they compiled their list of 2012 Top Attorneys.  As SJ Magazine pointed out in their issue, “a smart, strong, successful attorney…

10 Most Common Personal Finance Mistakes

Posted on August 21, 2012 by Saldutti

All of us are guilty of a few bad financial habits, and most of us share a few. When financial advisors first meet with clients, they usually find a familiar set of money-losing miscues, from checking credit reports too infrequently (or not at all), paying too much for insurance, or buying stocks for the wrong reasons.  Rarely are any of these bad habits alone enough to sink us. But taken together over time, these small leaks in our financial ship rob us of amounts we’d never stand for losing all at once. We asked several financial advisors to name the…

Back to School Shopping Survival Guide

Posted on August 16, 2012 by Saldutti

That’s right, it’s that time of year again – back to school shopping is here!  Looking for the best strategy to beat the high costs for back-to-school shopping? According to Myfamilyfinaces.net, “The average, proud family of a college student will spend $929.35. The average parent with children in grades K-12 is going to cut a check for $688.62”. The estimated 2012 total combined K-12 and college spending for back-to-school in the U.S. is $83.8 billion dollars. Compared to 2011’s total combined K-12 and college spending for back-to-school in the U.S. was $68.8 billion dollars. Needless to say, the economy plays…

The Bankruptcy Picture for 2012

Posted on August 14, 2012 by Saldutti

The number of bankruptcy filings from U.S. businesses continued to fall in the 12 months ending June 30, reports the U.S. Bankruptcy Courts.  The filings fell 14.8% – slightly more than they fell in the previous 12-month period, when they dropped 14.3%. Business bankruptcies had skyrocketed 62.7% in 2007 and 2008, then rose another 8.3% in 2008 and 2009. They peaked in 2009 and 2010, with 59,608. Good News, Bad News The number filed in 2011 and 2012 (44,435) is still above the 2007 and 2008 level (33,822). Personal bankruptcies, in which debts are mostly personal or consumer, also fell 14.2% in…

The Myth of 'Good' Debt

Posted on August 11, 2012 by Saldutti

The economic crisis and the tepid pace of the recovery have left millions of Americans deep in debt. And amid this slow recovery, many are struggling to make minimum payments to keep ahead of creditors.  The amount of debt the average American holds is staggering, compared with the average American salary. In its latest findings in 2010, the Social Security Administration calculated the average American wage index to be $41,673.83. According to Creditcards.com, the average American household holds $15,956 in credit card debt. The Census Bureau has determined than 60% of Americans own their homes; many of these people still…

Save on Monthly Bills

Posted on August 07, 2012 by Saldutti

Paying bills is about as fun as a trip to the dentist. From your phone to cable to insurance, monthly expenses can shockingly add up to a small fortune. But a few phone calls and some old-fashioned negotiating can go a long way in helping you shrink your bills by as much as $1,000 a year. Kiplinger’s Personal Finance newsletter offers this money-saving advice: Start With Your Cell Plan – Since it’s one of our biggest monthly bills, there’s a good bit of room for savings. For starters, think twice about the size of your cell phone plan.  Do you really…

Frugal to a Fault?

Posted on August 02, 2012 by Saldutti

Sometimes our attempt to save money backfires. Ever drive around for miles to find the cheapest gas, but really just waste time and money in the process? It happens to the best of us.  Here are 5 common ways we tend to be frugal to a fault, from Yahoo! Finance. Falling for Free – A free lunch? Sign me up! But think twice about “free” promotions since, in many cases, there may be hidden costs. Buy-two-get-one-free deals, for example, can entice us to spend more than we intend to, while “free shipping” offers may require a minimum purchase that’s…