Money Management Articles
Money Management articles provide financial tips on a broad range of topics. Kids going to college? Own a small business? Buying a new house? Money Management articles can help. Take a look at some recently published articles, or use the search function on the web site to find information about a specific topic.
- How to Avoid Scams When Searching for Scholarships
- Contact: Sarah Krueger – 248.267.3712 May 5, 2008—Troy, MI—Tuition and fees can add up to well over $30,000 at some universities. Many parents hope their children can secure a scholarship so that they can further their education without exhausting the family’s savings. With scholarship dollars often hard to come by, and parents anxious to get them, it’s no surprise that “scholarship fraud” is on the rise. In fact, people taken in by scholarship scams lose a total of $100 million annually, according to
- Planning an Affordable Family Vacation
- Contact: Sarah Krueger – 248.267.3712 May 12, 2008—Troy, MI—With the end of the school year fast approaching, many families are beginning to plan their summer vacations. Travel expenses can take a big bite out of your budget, but the Michigan Association of CPAs advises that there are many ways to make your vacation dollar go further. SEARCH FOR DEALS Don’t miss out on the many online opportunities to find great bargains. You can use online travel sites to search for the lowest airfare, hotel rates,
- Teaching Children Money Smarts
- Contact Sarah Krueger – 248.267.3712 May 19, 2008—Troy, MI—Do your children understand the value of a dollar? Learning how to manage money early is a lesson that will be essential throughout their lives, according to the Michigan Association of CPAs. Here are some tips that you can use to ensure that even the youngest children learn how to save and spend wisely. GIVE THEM RESPONSIBILITY Most children begin to learn about money through their allowances. When you give your children a regular allowance
- Don't Let Your Teen Get Caught in a Credit Crunch
- Contact Sarah Krueger – 268.267.3712 May 26, 2008—Troy, MI—When is it best time to teach your children about using credit and borrowing money wisely? The Michigan Association of CPAs advises that the teen years are a great time to introduce children to the rules for managing debt. Don’t miss out on the opportunity to broach this important topic. Young adults are swamped with advertisements for credit cards as soon as they enter college, and many don’t know how to say “no.” It’s estimated that
- Protecting Your Child Against Identity Theft
- FOR IMMEDIATE RELEASE: Contact Sarah Krueger: 248.267.3700 Troy, MI—April 28, 2008—Is someone using your child’s Social Security number or other personal information to commit fraud? Unfortunately, the number of cases of identity theft committed against children is on the rise, according to the Federal Trade Commission. And, parents may be completely unaware until the child is one day denied a driver’s license or a college tuition loan because of the bad record that an identity thief has built in the
- Five Ways to Save on Energy Costs
- Contact Sarah Krueger: 248.267.3700 Troy, MI—April 7, 2008—The average American household spends $1,900 a year on energy bills, according to the government’s ENERGY STAR program. Whether you’re preparing for the heat of summer or for winter’s frigid temperatures, or looking to lower your gasoline expenses, there are many practical ways to cut down on costs, according to the Michigan Association of CPAs. And, when you reduce your energy use, you will realize the environment benefits from lower greenhouse
- Smart Tips for Managing Your Debt
- FOR IMMEDIATE RELEASE: Contact Sarah Krueger: 248.267.3700 Troy, MI—April 14, 2008—Debt is not always a bad thing. Taking out a loan can make it possible to buy a home, purchase a new car or send your child to college. However, building up too much debt and failing to manage your outstanding balances wisely can be costly mistakes, according to the Michigan Association of CPAs. Many American families have allowed their debt to get out of control, but there are smart steps you can take to remedy the
- Medical Identity Theft: Don't Be a Victim
- FOR IMMEDIATE RELEASE: Contact Sarah Krueger: 248.267.3700 Troy, MI—April 21, 2008—Many people are familiar with identity theft in which con artists use another person’s personal information to commit fraud. Identity theft encompasses a range of crimes, from using a stolen credit card to make an illegal purchase to employing a pilfered Social Security number to establish a new identity. One truly alarming twist on this trend is medical identity theft, a crime that can threaten your family’s well-being.
- SAVVY STEPS IN SHOPPING FOR A MORTGAGE
- Contact Sarah Krueger: 248.267.3700 Troy, MI—March 31, 2008—What’s the best advice for people who are buying or refinancing a home? Get the best mortgage. According to the Michigan Association of CPAs, shopping around for the best mortgage deal you can find and being informed about the right questions to ask mortgage lenders can be the most important things that you do. GET THE FACTS ABOUT RATES The mortgage interest rate will affect your monthly payment amount so, as a general rule, you will want to find
- ANSWERS TO FREQUENTLY ASKED TAX TIME QUESTIONS
- Contact Sarah Krueger: 248.267.3700 Troy, MI—March 3, 2008—When you think about filing your tax return, do you have more questions than answers? The entire process can be confusing and frustrating, but a little information can make the experience a lot more bearable. Here are some common tax season questions, along with practical answers, from the Michigan Association of CPAs. HOW CAN I LOWER MY TAX BILL? CPAs recommend that you make tax-savvy choices such as participating in your company’s 401(k) plan or
- BEST WAYS TO SPEND YOUR TAX REFUND
- Contact Sarah Krueger: 248.267.3700 Troy, MI—March 10, 2008—As the April 15 tax filing deadline nears, many people will be in the enviable position of receiving a tax refund. It’s a nice surprise to get back some of the money you paid in taxes during the year. It’s also a great opportunity to make some sound financial decisions that will reap benefits now and in the future, according to the Michigan Association of CPAs. So, before you spend all of your newfound funds, consider some of these money-wise
- Tax Tips for Members of the Military
- Contact Sarah Krueger: 248.267.3700 Troy, MI—March 17, 2008—At this time of year, people are organizing their records in preparation for filing their tax returns. This is often a challenging task, and that may be particularly true for those who are serving in the armed forces. That’s why the Michigan Association of CPAs advises that anyone who is in the military, or has family members that serve our country, be aware of some of the special tax breaks and programs available to them. BREAKS FOR THOSE IN
- Tips for First-Time Home Buyers
- Contact Sarah Krueger: 248.267.3700 Troy, MI—March 24, 2008—Given the bad times that have occurred in real estate prices lately, many first-time home buyers may be wondering if this is a good time to enter the market. Purchasing a home can be an excellent investment, according to the Michigan Association of CPAs, but there are some important issues to consider before you do. SET REALISTIC PRICE GUIDELINES The easiest way to decide how much house you can afford is to determine what size mortgage payment
- How to Miniminze Your Health Care Costs
- Contact: Sarah Krueger- 248.267.3712 February 4, 2008—Troy, MI—The average employee contribution for health insurance has soared over 143% since 2000. Typical out-of-pocket expenses that consumers pay for deductibles, prescription copayments and coinsurance for doctor and hospital visits have jumped 115% during the same period, based on facts compiled by the National Coalition on Health Care. You and your family can still afford to receive the treatment you need, according to the Michigan Association of
- For Peace of Mind, Create an Emergency Fund
- Contact Sarah Krueger: 248.267.3700 Troy, MI—December 24, 2007—Your car breaks down and you need repairs immediately. You or a loved one has a medical problem and there are related expenses that aren’t covered by insurance. Or, you can’t work temporarily because of an illness or injury. Do you have enough money available to pay for unforeseen expenses in a crisis? According to the Michigan Association of CPAs, the best way to make sure you do is to set up an emergency fund that you can tap into when the
- Identity Theft: Don't Let it Happen to You
- Contact Sarah Krueger: 248.267.3700 Troy, MI—December 17, 2007—Could you become a victim of identity theft? It’s more likely than you might expect. Identity theft occurs when someone uses your identification-—such as your Social Security number or credit card number—-without authorization to commit a crime. When it comes to identity theft, prevention is the best defense, according to the National Crime Prevention Council. The Michigan Association of CPAs offers these tips and observations to help you avoid
- Long-Term Care Insurance: What You Need to Know
- Contact Sarah Krueger: 248.267.3700 Troy, MI—December 10, 2007—The average cost of a private room in a nursing home is about $200 a day, or roughly $75,000 a year, according to a survey by the MetLife Mature Market Institute. And by 2020, 12 million older Americans will need long-term care, including nursing home stays, according to the U.S. Department of Health and Human Services. How can families handle this expense? Health insurance pays the cost of the care you might need to recuperate from an illness
- Money-Wise Gifts for the Holidays
- Contact Sarah Krueger: 248.267.3700 Troy, MI—December 3, 2007—When buying presents at this time of year, people often spend a lot of money without being sure that they have really found the right gift for that special person. While it is surely the thought that counts, it’s also great to be able to give a present that is truly appreciated by the recipient. According to the Michigan Association of CPAs, there are many financially savvy ways to indulge or honor a loved one. If you are tired of buying the
- Don't Let Theives and Con Artists Ruin Your Holidays
- Contact Sarah Krueger: 248.267.3700 Troy, MI—November 26, 2007—Unfortunately, not everyone is filled with the spirit of peace and good will at this time of year. The holidays represent the peak season for criminals. The Michigan Association of CPAs recommends a number of steps you can take to avoid falling prey to their schemes. HOLD ON TO YOUR WALLET Crowded stores and distracted shoppers are a boon to pickpockets, so try to limit the cash you carry so you don’t have much to lose. Keep your wallet in a
- Programs that Will Make Your Employees Thankful
- Contact Sarah Krueger: 248.267.3700 Troy, MI—November 19,2007—Americans gather together this week to consider the many things for which they are thankful. As we take stock, it’s a good time of year to assess your company policies and procedures to make certain you are offering programs that will make employees grateful to be working for you, according to the Michigan Association of CPAs. A 2006 survey by the Society for Human Resource Management found more than three-quarters of American workers were
