June 25, 2009
On June 24th President Obama signed into law the “Cash for Clunkers” bill in yet another effort to hopefully encourage, and help, more consumers purchase a new car. However, the signature kicks off a 30-day period in which the Transportation Department will prepare regulations for the program. The National Automobile Dealers Association is advising dealers to wait until the rules are out late next month before participating.
As I understand now, under this new law, if a consumer has an older car that gets poor mileage - but not more than 25 years old - and they have owned said car for at least one year, they can drive it to the Dealership and maybe get a $4,500 credit towards a new, more fuel-efficient car. I say maybe because it is the Dealers’ discretion who they give the credit to. Sound fair? Read the rest of this entry »
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June 17, 2009
If you’re like me, when it’s time to do your taxes you are searching for any possible deductions allowed by law. Handing our hard-earned money over to the IRS is not something any of us is really fond of doing. MCCU may have a solution for you.
Do you have an auto loan? Are you thinking about buying a new car and financing it? Okay…here’s the fun part. Did you know that if you own a home, you may be eligible for a tax-deductible auto loan, and you may be able to deduct the interest you pay on that car loan? Read the rest of this entry »
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June 10, 2009
Budgeting. We all know what it means, but do we do it? Maybe we think we are, or maybe we intend to, but never get around to implementing it. Or, maybe, we don’t know how to budget at all.
Budgeting is especially important in this economy. Making each dollar count and ensuring all of our bills are paid, on time, is crucial. So how do you do it if you’ve been laid off or are just having hard times? According to a recent Money poll, in light of the financial crisis, 89% of us are changing the way we manage our finances, and 88% plan to be more frugal. Read the rest of this entry »
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May 29, 2009
The Helping Families Save Their Homes Act of 2009, signed into law by President Obama on May 20, 2009, includes a provision extending $250,000 share insurance coverage provided by the National Credit Union Share Insurance Fund through December 31, 2013. FDIC insurance will also be extended under this new law.
This is good news, considering many consumers may have purchased CDs, or Share Certificates, that expire in 2010, and they may not have been insured, depending how their accounts are vested, had the limits gone back to $100,000. Read the rest of this entry »
Posted in General, Savings 1 Comment »
May 22, 2009
On Thursday I was fortunate to have the opportunity to speak to a group of graduating Seniors from Champs Charter High School in Van Nuys about money management and how to maintain good credit once you get into college and life after High School.
I am a huge advocate of financial literacy in the classroom, and was even a past Board Member for the California Jumpstart Coalition. I truly believe that if kids are taught how to responsibly manage their money and know what to look for when applying for credit, they will grow into responsible and informed consumers and hopefully won’t get into any credit trouble in the future. Read the rest of this entry »
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May 18, 2009
Think about your passwords for a minute. How many do you have? Are they all pretty similar? And how hard would it be for someone to guess what they are?
You may have passwords for your debit card, your credit card, your online banking, and your favorite web sites. It probably only took you a few seconds to choose each one. Unfortunately, if you weren’t careful (“My birth date! Perfect”) it may not take long for a clever hacker to guess them. Read the rest of this entry »
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April 29, 2009
I was watching Clark Howard - one of my favorite Financial Gurus – today on CNN and his segment was on Indian Online Payday Lenders. Payday lenders offer short-term loans with extremely high fees typically to consumers who live paycheck to paycheck. The consumer will write a post-dated check to the lender and the lender will collect that money once it has been deposited to the consumer’s bank account. Read the rest of this entry »
Posted in Alerts & Scams 1 Comment »
April 16, 2009
According to Congressman Brad Sherman, there are thousands of Los Angeles County residents who are owed millions of dollars in undelivered tax refunds and stimulus payments from 2008.
Did you move? Did you change your name? These are the top reasons for the checks not making it to people’s homes. When this happens, the check is marked “undeliverable” and is sent back to the IRS. Read the rest of this entry »
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April 10, 2009
As someone who’s been there, I know firsthand the abundance of expenses that fall into your lap as a new parent. Though your little bundle of joy warms your heart and amazes you on a daily basis, those cute little cherubs can cost you some serious money!
Between diapers, bottles, formula, and clothes, the smallest member of your family can run up some pretty hefty bills. And these items are just the beginning! Here are a few unexpected expenses that will be helpful to consider before your baby arrives. Read the rest of this entry »
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April 1, 2009
Looks like Ford has jumped onto Hyundai’s bandwagon and is now offering a Payment Protection program. Here’s how it works:
You are automatically enrolled when you purchase or lease any new Ford vehicle. But, it only becomes effective 30 days after you make the purchase. If you become involuntarily unemployed (note: this won’t benefit you if you’re fired, only laid off) before January 1, 2010, as long as you submit monthly proof of unemployment, Ford will make your full payment for you, up to $700 per month, for up to 12 months. Read the rest of this entry »
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