Credit & debt management

  • 4 steps for paying down your debt once and for all

    Aug 10, 2011
    According to the National Foundation for Credit Counseling, the top financial new year’s resolution for consumers in 2011 is cutting back on debt. Now that the year is nearly half over, how many people have kept that pledge? If your resolve is starting to fail, The Ohio Society of CPAs offers these tips for making it happen.
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  • How new grads can build a strong financial foundation

    Aug 10, 2011
    You’ve put in four, or maybe to your parent’s dismay, five or six years of hard work in college, and now graduation is here. What’s next? Planning for retirement.
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  • Financial records: what to keep or toss

    Aug 10, 2011
    If the IRS came calling, could you easily put your fingers on the important records that will back up your tax return? If you’re a hoarder, with file cabinets overflowing in old checks, bank statements and pay stubs, or a purger—someone who shreds everything the minute you file your return, these CPA tips of record keeping can help you make sense of what to keep and what to pitch. Reducing your paperwork burden will help you be more organized with the documents you do need to keep.
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  • Americans have more debt than emergency savings

    Aug 10, 2011
    Most Americans agree saving for a rainy day is a good idea. But despite recommendations of CPAs, Americans are racking up certain debt faster than they are growing emergency savings, according to a recent Bankrate Inc. study.
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  • To master your credit worthiness, it pays to understand the score

    Aug 10, 2011
    “What’s your credit score?” That might be the question. But the answer is another question: “What’s in your credit file?”
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  • Avoiding overdraft and bounced check fees

    Aug 10, 2011
    Have you ever been hit by a hefty charge for accidentally withdrawing more money than is in your checking account? These fees can be quite high, so The Ohio Society of CPAs advises that you understand how they work and how to avoid them.
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  • What you need to know about your spouse’s finances

    Aug 10, 2011
    Are you and your spouse completely familiar with each other’s financial situation? Are critical documents up to date? Are you prepared if a spouse is incapacitated or dies? Failure to share information can magnify problems in a crisis.
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  • Top 10 tips for managing money in college

    Aug 10, 2011
    You just earned your first paycheck from your new college job and you feel like you are at the top of the world. Now you can finally afford that new outfit, a trip with your friends to the movies and the new gadget you’ve been eying.
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  • 3 scams to avoid in tough times

    Aug 10, 2011
    Many people have lost their jobs in the last few months as the economy has turned sour. Scam artists are still fully employed, however, in good times and bad. In fact, The Ohio Society of CPAs warns that the threat of being defrauded by a con artist probably rises during a recession, as money becomes tight and thieves work overtime to get their hands on yours. CPAs caution against these scams – and offer advice on how to avoid becoming a victim.
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  • The Sandwich Generation: Juggling family responsibilities

    Aug 10, 2011
    At a time when your career is reaching a peak and you are looking ahead to your own retirement, you may find yourself in the position of having to help your children with college expenses while at the same time looking after the needs of your aging parents. Squeezed in the middle, you've joined the ranks of the "sandwich generation." It’s a challenge millions of Americans are currently facing.
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  • Talking to your kids about tough economic times

    Aug 10, 2011
    The nation has been facing uncertain economic times for a while now, a fact that has had an impact on many Americans. That means that many families have had to tighten their budgets and cut back on some of their spending. As this occurs, kids may have a tough time understanding why their parents can no longer afford the toys, electronic gadgets, activities or trips that they want. Here's some advice on how to address the economy with your children.
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  • Talking about finances before your wedding can reduce stress later

    Aug 10, 2011
    Money issues are one of the leading causes of marriage stress. Making sure both of you are on the same page when it comes to finances before you walk down the aisle can help avoid problems once the honeymoon is over.
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  • Starting over: 8 steps for rebuilding your finances

    Aug 10, 2011
    Perhaps you’re recently divorced or widowed. Maybe you just landed a job after a long period of unemployment or you recently completed bankruptcy proceedings. All of these life events present a common challenge: the need to reestablish yourself financially. The following steps can help get you back on sound financial footing.
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  • Smart planning helps families achieve financial goals

    Aug 09, 2011
    If you’re like most adults, your goals may include raising a family, building your dream home and retiring in comfort. But without a clear plan to achieve these, it’s easy to get sidetracked. Young families often are strapped with college loans, mortgages, medical premiums and the never-ending costs of raising children. It’s easy to put off saving until later. But later comes all too soon for many of us. Fortunately, with good planning, it is possible to achieve a more secure financial future.
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