Money Advice

Statistics prove, prove that you've one birthday / One birthday every year / But there are three hundred and sixty-four unbirthday’s / That is why we're gathered here to cheer. / A very merry unbirthday to you!

The Unbirthday Song, made famous by the Walt Disney’s film Alice In Wonderland tells a tale of celebration for the sake of celebrating.

Radical? Perhaps, but as a licensed therapist, life coach and die hard Disney fan, I must admit the "unbirthday" concept should hardly be seen as the work of the "extremist spouse."

With fall fast approaching, what better time to spend a morning with your husband or wife, walking or driving from home to home, visiting some neighborhood tag sales. I recently experienced the "rush" of hosting my very own and after a few tag sale bumps and bruises, I got the hang of it and enjoyed the experience. Although my husband was less than thrilled with the prospect of selling junk on our driveway, he reluctantly agreed to help. I also got my father and mother involved and we had a family-friendly fall sale. Along the way, I learned some valuable tag sale etiquette tips that I would like to share with anyone considering or willing to give it another go.

1. A plastic cookie container left over from last Christmas is not an appropriate moneybox.

In the rush of events that take place as a couple begins their new life together, insurance needs are probably not going to be top of mind. However, consider all the gifts that you received during the reception—the china, the silverware and even the toaster oven from Aunt Phyllis. More couples now live together before getting married, but if not, think about all the things you accumulated merging your two households into one. Unfortunately, if you were expecting your homeowners or renter’s insurance policy to automatically protect all your treasures to the full extent of their value, you’d need to reconsider. The truth is that not all insurance polices are a perfect match for a new couple.

Many people are not clear what their insurance will cover, and they don’t realize the importance of having the right insurance until they suffer losses. They are surprised to learn that their insurance doesn’t always cover all their property for the full

As a youngster during the Great Depression, I remember a popular complaint of the time: "When poverty comes through the door, love flies out the window." For many couples, the financial strain was more than the relationship could bear. With the nation’s economy again in similar straits, financial partnership is crucial, with each partner working together. Here are five suggestions to avoid the trauma.

1. Beware of interest. The single greatest economic threat to most Americans is payment of interest. The credit card, successfully foisted upon us by our financial institutions now has this nation by its collective neck

Is that hissing sound your 401(k) account losing precious dollars from the recent stock market swoon? Years ago, when your balance was small and fluctuated in value, it never bothered you, because even large swings represented little in actual dollars. However, your balance has grown over the years as you and perhaps your employer have made annual contributions, which have benefited from several periods of considerable stock market appreciation. Now, a 15 percent decline is real money and you are not getting any younger. In fact, for many 401(k) participants the U.S. stock market correction that started in late October 2007 has wiped out the past 18 months of profits and possibly some of their contributions.

In years of strong growth, a poor asset allocation may result in earning less than your potential. However, during market corrections or bear markets (stock market decline of over 20 percent) a poorly allocated portfolio can sometimes represent huge losses like those experienced during the last correction that started in March 2000.

We know, you've recently filed your taxes and you either just paid money to Uncle Sam or you collected it. Not to mention that the rebate checks are starting to roll in. But if you're new to this marriage thing, the tax rules are different than when you were single. With the economy slumping, it's more important than ever to pay attention to your money.

Since 2003 when it was first introduced, the marriage tax penalty has evolved into more of a tax planning consideration than a surprise liability. To understand the concept you need to have a basic understanding of how tax rates work. I have always used the analogy of "walking up a staircase" when describing the progressive nature of tax rates.

It’s that time of year when everyone begins to panic about their taxes. This checklist may help you get started on the dreaded task.

A – Answer the question of "Who is going to prepare our return?" Each of you may have used a different preparer in the past. It's important that you both decide who you want to do your tax return.
B – Begin collecting your tax statements and information. Your chosen preparer should be able to give you an organizer to help you assemble the needed items.