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900 N. Kings Highway, Cherry Hill, New Jersey 08034 856.667.4100 · 215.563.0276 · Fax: 856.667.3652 Money Management is a weekly column on personal finance distributed by NJSCPA. 2009 Money Management Archive Archives View past Money Management articles: View past Money Management articles: 2008 ·2007 2006 · 2005 2004 · 2003 2002 · 2001 2000 · 1999   Other Tips Tax Tips Business Tips Financial Planning Tips Online Advisor Search Looking for something specific? Enter one or more keywords and search our entire site. December Five Questions to Ask When You Join a Gym As the new year approaches, many people will resolve to lose weight or get into better physical shape. If so, you’re not alone. According to the International Health, Racquet & Sports Club Association, more than 45 million Americans belong to health clubs. December 28th Debt Management Mistakes to Avoid Most people carry some debt, whether it’s a credit card balance or the money they owe on a car loan or home mortgage. Debt is not necessarily a bad thing, but it can become a problem if you allow it to get out of control. The New Jersey Society of Certified Public Accountants (NJSCPA) offers these tips on mistakes to avoid in managing your balance: December 21st Don’t Get Scammed When Making Travel Plans Many people take vacation or visit family at this time of year. That’s the good news. The bad news is that there are a number of scams that unsuspecting travelers can fall victim to if they are not careful. The New Jersey Society of Certified Public Accountants (NJSCPA) offers these tips on how to avoid them: Holiday Shopping Tips The holidays are an exciting time, but they can also be an expensive one. Many people have tightened their belts during the last year because of the troubled economy, but that doesn’t mean you have to miss the joy of giving presents to loved ones or indulging in the celebrations. The New Jersey Society of Certified Public Accountants (NJSCPA) advises that there are some smart steps you can take to ensure that you are a savvy shopper, even during what can be a costly time of year: December 7th November Five Costs You Shouldn’t Cut Are you looking for ways to trim expenses? There are a lot of different reasons to be worried about money and spending these days. Cutting back on unnecessary outlays is always a good idea, but make sure you don’t chop out important budget items in the process. November 23rd What to Ask Before You Donate Even in a bad economy, people still reach deep into their pockets to help out those who are less fortunate, especially as the holidays approach. However, in good times or bad, it’s important to know that the money you are giving to a charity is truly being put to good use. November 16th Are You Ready for Home Ownership? Purchasing a first home is an exciting time in anyone’s life. It’s also a large financial undertaking, a fact that leaves many people wondering whether they’re prepared for this big step. The New Jersey Society of Certified Public Accountants (NJSCPA) suggests you answer these questions to help you decide if the time is right for you: November 9th Tips on Working into Retirement Retirement used to mean leaving work forever at age 65. Today, that description no longer applies to many of the millions of Americans who are at or near the traditional retirement age. According to the U.S. Bureau of Labor Statistics, by 2016, workers age 65 and older are expected to account for 6.1 percent of the total labor force, up sharply from 3.6 percent in 2006.  November 2nd October Getting a Better Price on a New Car In recent months, the news has been full of stories about struggling auto makers and declining car sales. While that’s bad news for the economy, it can be good news for consumers looking to make an auto purchase because car dealers are anxious for your business. The New Jersey Society of Certified Public Accountants (NJSCPA) offers these tips on getting the best deal: October 26th Avoid Magazine Subscription Scams If a promise sounds too good to be true, it usually is. And that’s the case with many offers for magazine subscriptions that you may receive over the phone or from someone selling door-to-door. The New Jersey Society of Certified Public Accountants (NJSCPA) offers this advice on how to be sure you’re getting the most sensible deal for you dollar: October 19th How to Get a Better Financial Aid Package College costs have become an enormous outlay for families, and the price tag seems to rise by larger amounts every year. According to the College Board, tuition and fees at private four-year colleges jumped 5.9 percent last year and rose 6.4 percent at public four-year colleges.  October 12th 529 Savings Plan Tips in Uncertain Times 529 college savings plans allow you to set aside funds for tuition costs where they can build up profits that are usually exempt from federal, state and local taxes. They can be a good tool for parents, but after recent stock market declines, many people found they had lost some of the money they had put in these plans. October 5th September Running a Business with Family If you work in a company run by your family or plan to start one, then you’re not alone. It is estimated that up to 90 percent of all businesses in the United States are family owned. They range in size from the corner store to large corporations.  September 28th Managing Your Small Business Health Care Costs The price of providing health care to small company employees is soaring. In fact, according to a study by the National Small Business Association, 28 percent of businesses surveyed said their health care insurance rates had jumped more than 20 percent in the past year.  September 21st Starting a Business in Uncertain Times A recession may seem like a bad time to launch your own company, but many people are considering this option. Even a troubled economy can create new opportunities, so this may be the right time for your start-up. September 14th Managing Staff Through Tough Times Small business owners face many tough problems in a troubled economy. One of the most difficult challenges can be managing a staff through uncertain times. Whether it’s a matter of keeping anxious employees focused on their work or making hard decisions about layoffs, company owners often find themselves wondering what the best steps may be. The New Jersey Society of Certified Public Accountants (NJSCPA) offers these timely suggestions: September 7th August Five Easy Cost-Cutting Tips During uncertain economic times, everyone is searching for ways to cut spending. Maybe you’ve already started brown-bagging lunch and stopped buying $5 lattes, but there’s no reason to stop there. The New Jersey Society of Certified Public Accountants (NJSCPA) advises that there are other simple steps you can take to keep more money in your pocket: August 31st Tips for Lowering Your Mortgage Payments Many people are struggling to pay their mortgage as a result of the bad economy. Don’t despair if you are concerned about falling behind on payments. According to the New Jersey Society of Certified Public Accountants (NJSCPA) there may be options available that can help make it easier to keep up with those monthly bills: August 24th Don’t Let a Loan Ruin a Relationship Now that banks have tightened their lending standards, it is more difficult to borrow money —even for those with stellar credit. So what do you do if you need a loan? Many people are turning to friends and family to borrow funds. The New Jersey Society of Certified Public Accountants (NJSCPA) offers some ideas to prevent the loan from damaging a good relationship. August 17th Tips for Keeping Your Job in a Recession Every day, it seems as if the news is filled with reports of layoffs and job cuts at more and more companies. If you’re concerned about the safety of your own position, the New Jersey Society of Certified Public Accountants (NJSCPA) offers the following steps you can take to recession-proof your situation: August 10th Finding a Job in a Down Economy Unemployment has been on the rise in recent months. If you are among the thousands of people seeking work, it’s important not to give up hope. As you conduct your search, the New Jersey Society of Certified Public Accountants (NJSCPA) advises that there are many ways to improve your prospects and ensure that you present yourself as the best person for the job: August 3rd JULY Choosing an Eldercare Facility The American population is aging. In fact, according to U.S. Census Bureau statistics, one in five Americans will be over age 65 by the year 2050. As these people grow older, many will choose to continue living on their own or may decide to move in with family.  July 27th Avoid Investment Scams With the stock market in turmoil in recent months and numerous other investments losing their appeal, many people are looking for ways to earn back the funds they’ve lost on stocks or to get some positive returns on the money they have left. July 22nd Is a Reverse Mortgage Right for You? Reverse mortgages have become a popular option for seniors who would like to reap some of the benefits of the equity they have accumulated in their homes. However, it’s important to be aware of both the advantages and drawbacks to these loans. The New Jersey Society of Certified Public Accountants (NJSCPA) explains how they work and the issues to consider: July 13th Five Tips for Shopping at Liquidation Sales One of the unfortunate consequences of a bad economy is a stream of liquidation sales, where retailers slash prices to unload merchandise before going out of business. Consumers can find some great bargains at these sales, but there are pitfalls to avoid in order to get a good deal. The New Jersey Society of Certified Public Accountants (NJSCPA) provides some money-wise hints on the best way to make the most of these sales: July 6th June Is Bankruptcy the Right Choice? During the current economic recession, many have lost their jobs, seen their credit lines cut or experienced other serious financial misfortunes. When the bills pile up and times become desperate, many people begin to question whether declaring bankruptcy is a viable option for them. The New Jersey Society of Certified Public Accountants (NJSCPA) advises there are many issues to consider before taking this drastic step: June 29th Is Now a Good Time to Refinance? nterest rates often fall during tough economic times. Thats good news for homeowners who would like to shave a few dollars off their monthly mortgage payments. Thats because when interest rates fall, its time to consider refinancing your mortgage loan. If you can find a loan with a lower interest rate, your regular payments will drop. June 22nd Smart Steps for Renting a First Apartment As college students graduate this month, many will be taking the monumental step of renting their first apartment. The New Jersey Society of Certified Public Accountants (NJSCPA) offers the following advice on getting the right start. June 15th Great Gifts for the Graduate June is graduation time, an important rite of passage for young students. One-third of all Americans typically give at least one graduation gift at this time of year and sometimes it can be difficult to find just the right one to mark the occasion. The New Jersey Society of Certified Public Accountants (NJSCPA) recommends several money-wise steps to make sure recent grads start off on sound financial footing: June 8th Cutting Wedding Costs Congratulations, youre getting married! So if youre starting to plan for your upcoming nuptials, you know that the price can be steep. In fact, the average cost of a wedding in the U.S. is around $28,000. However, it is possible to have a memorable day while sticking to a realistic budget, advises the New Jersey Society of Certified Public Accountants (NJSCPA). Here are some tips: June 1st May Smart Steps for Funeral Planning Many people dread the prospect of planning for a funeral, but a little forethought can ensure that your loved one receives the funeral he or she desires. It can also minimize unnecessary expenses and stress during a difficult time. May 26th How to Lower Your Prescription Drug Costs According to a Kaiser Family Foundation study, the amount of money that Americans spend on prescription drugs today is more than five times higher than it was in 1990. Many people struggle to meet the steep price of medications for their families, particularly in a tough economy. The New Jersey Society of Certified Public Accountants (NJSCPA) offers these tips to make this necessary expense more affordable: May 18th Borrowing from a Company Retirement Plan The troubled economy has taken its toll, resulting in job losses, home foreclosures and tighter credit. Faced with a financial emergency, many people are scrambling to find available cash. At such times, the money in your qualified company retirement plan may seem like a great resource. May 11th Protecting Your Retirement Savings Problems in the stock market have affected virtually every sector of the economy, but the impact on retirement accounts has been the most worrisome for many people. Thats not surprising, according to Congressional Budget Office estimates, retirement accounts have lost approximately $2 trillion during the last two years due to market declines. May 4th April Financial Advice for New Parents A new baby is a joyous addition to any family. But children also bring added financial responsibilities for new parents. The New Jersey Society of Certified Public Accountants (NJSCPA) offers the following advice on making the right financial choices: April 27th Helping Aging Relatives in Tough Economic Times The downturn in the economy has taken a toll on everyone, but senior citizens are often hardest hit by a recession. Thats because they generally live on a fixed income, including the earnings on retirement plan investments that may have declined sharply in value due to drops in stock prices and interest rates. April 20th Dealing with Debt Collectors Its not uncommon to fall behind on debt payments, particularly in a troubled economy. If you have missed payments on your mortgage, credit card or other outstanding debt, you may hear from a debt collector at some point, if you havent already. The New Jersey Society of Certified Public Accountants (NJSCPA) provides some advice on how to deal with collection agencies if you find yourself in this situation: April 13th Three Scams to Avoid in Tough Times Protect Yourself Against Fraud, Especially During a Recession Many people have lost their jobs in the last few months as the economy falters. Scam artists are still fully employed, however, in good times and bad. So be careful. April 6th March Handling Debt in a Divorce Divorce is usually a very emotional and difficult time in life, and it can also raise troubling financial questions. Dealing with debt, for example, can be a particularly tough issue for couples in the midst of a split. The New Jersey Society of Certified Public Accountants (NJSCPA) provides some advice on how to smooth out problems and avoid unnecessary friction when finances become an issue: March 30th What You Need to Know About Writing a Will Wills are not just for the very rich. They are important legal documents that help guarantee that your wishes will be followed and your family or other beneficiaries can receive their inheritance without unnecessary delays. Everyone should have a will, particularly if you have children or if you have assets that you plan to leave to a person(s) or an organization. The New Jersey Society of Certified Public Accountants (NJSCPA) offers the following tips on writing an effective will: March 23rd Six Ways to Stretch Your Dollar Its always a good idea to spend your money wisely, but during tough economic times these smart steps are even more important. The New Jersey Society of Certified Public Accountants (NJSCPA) offers these tips on how to get the most out of every dollar that you spend: March 16th Five Mistakes That Can Bust Your Budget Making  and sticking to  a household budget can help you conserve cash and limit your credit needs in tough economic times. There are some traps, however, that can bust your budget quickly, despite your best intentions. The New Jersey Society of Certified Public Accountants (NJSCPA) offers the following advice to avoid making these mistakes: March 9th Avoiding a Tax Audit All taxpayers dread the prospect of facing an Internal Revenue Service audit. According to the New Jersey Society of Certified Public Accountants (NJSCPA), there are some steps you can take to minimize the likelihood that youll be audited or ensure a more positive experience if you are. March 2nd February Retirement Savings Tips to Take Now The recent turmoil in the financial markets has touched virtually every sector of the economy. One huge source of anxiety for many people is the state of their retirement savings. Late last year, many saw the value of their retirement nest egg dwindle as stocks and mutual funds plummeted. February 23rd Talking to Your Children About Tough Economic Times The nation has been facing uncertain economic times for a while now, a fact that has had an impact on many Americans. That means many families have had to tighten their budgets and cut back on spending. As this occurs, children may have a tough time understanding why their parents can no longer afford the toys, electronic gadgets, activities or trips they want.  February  16th Qualifying for a Mortgage in a Tough Economy Getting a mortgage has become increasingly challenging in this difficult economy. One recent survey showed that 67 percent of those who applied for a mortgage found it more difficult. According to the New Jersey Society of Certified Public Accountants (NJSCPA), although banks now may have stricter lending rules, it is still possible to qualify for a mortgage. Here are a few steps that may make it easier: February 9th Preparing Your Home for Sale Between reluctant buyers and a tightening up of bank lending, many people have found its a tough time to be selling a home. According to the New Jersey Society of Certified Public Accountants (NJSCPA), all is not lost. There are several steps you can take to make your home more attractive to buyers: February 2nd January What to Do If Your Wallet Is Stolen You check your purse or pocket and discover the worst has happened — your wallet has been stolen. What should you do first? Your wallet contains not only your money but also credit cards, your driver’s license and other identification. If you find yourself in this situation, the New Jersey Society of Certified Public Accountants (NJSCPA) offers the following advice: January 26th Smart Steps to Take If You Are Laid Off In a troubled economy, many companies are cutting jobs. According to the New Jersey Society of Certified Public Accountants (NJSCPA) there’s no need to panic if you are laid off. Here are some strategies for keeping your finances in order even if you lose your job: January 19th How to Save on Gasoline Costs The cost of fuel may have dropped since its surge last year, but saving money on gasoline is always a top priority for consumers. While you may have no control over prices at the pump, the New Jersey Society of Certified Public Accountants (NJSCPA) advises that there are steps you can take to be a smarter gas consumer. January 12th How to Choose the Best Bank for You When opening a checking or savings account, security and convenience top the list of must-haves. But how do you know which bank, savings and loan or other choice is the right one for you? According to the New Jersey Society of Certified Public Accountants (NJSCPA) there are many different factors to consider: January 5th We currently have individuals licensed to offer securities in the states of New Jersey, California, Connecticut, Washington D.C., Delaware, Florida, Maryland, Nevada, Pennsylvania, Texas and Wisconsin and to offer investment advisory services in New Jersey, Connecticut, Delaware, Florida, Maryland North Carolina, New York, Pennsylvania, Texas and Wisconsin. This is not an offer to sell or provide investment advisory services in any other state or jurisdiction. Securities offered through 1st Global Capital Corp., Member FINRA/SIPC. Investment advisory services offered through 1st Global Advisors, Inc. [Current Money Management] [Business Information] [Home]     This site designed and maintained by the Information Technology experts at Alloy, Silverstein, Shapiro, Adams, Mulford, Cicalese, Wilson & Co. We appreciate comments concerning our website. Contact our webmaster . Copyright © 1997 - 2004 Alloy, Silverstein, Shapiro, Adams, Mulford, Cicalese, Wilson & Co. All rights reserved.