Recently
Commingle Personal and Business Finances? Never!
Dear Mary: I am reading your book, "Debt-Proof Living," and have begun tracking my expenses. I have a home-based business. Should I include business expenses or just personal expenses in the tracking? — Lucy, Vermont
Dear Lucy: You …Read more.
In Recessionary Times, Thrift Stores Are Booming
I love to read about the ingenious ways people are dealing with the effects of this unrelenting recession. Reminds me of a news story I read recently about the rise in popularity of thrift stores. They're becoming so popular, in fact, new ones are …Read more.
How to Stop Paying for Standby Power
Take a stroll through all the rooms in your home tonight when it's dark. Notice all the little green or red lights staring at you from TVs, cable boxes, phone chargers, computer peripherals, sound systems, the coffee maker and the microwave. I did …Read more.
Debt: The Good, Bad and Really Ugly
All debt falls into one of three categories: reasonable, toxic and neutral.
Reasonable, or good, debt is the result of borrowing money to buy something that has a high likelihood of increasing in value, and in so doing will increase your net worth.
…Read more.
more articles
|
A Simple Spray Sends Stray Cats AwayDear Mary: We have two neighbor cats that think our front flowerbeds are their own personal toilets. They have found a spot right next to our front door to do their business, and we can't keep them out of it. Do you have any suggestions? — Cindi, Oregon Dear Cindi: Cats hate the smell of citrus. So instead of throwing away orange, lemon and grapefruit peels, soak those rinds in a large container of water. Pour the water into a spray bottle, and spray the area. Experiment to see how often you need to repeat. One other home remedy to repel cats is to sprinkle used coffee grounds in the garden. Neither of these repellants is harmful to the cats or your soil. Dear Mary: Does it make more sense to sell items that I no longer use at a garage sale or to donate those items to a charitable institution to receive a tax credit? I just bought the booklet "Money For Your Used Clothing, 2009 Tax Year." It seems as if you get more from giving than from selling. — Zeida G., Florida Dear Zeida: The allowable tax deduction for used goods donated to a charitable organization is almost always more than you could sell those items for at a garage sale. Just remember that your donation becomes a tax deduction , not a tax credit . That means you are allowed to deduct the fair market value of the items from your adjusted gross income. (A tax credit reduces your tax liability dollar for dollar.) Depending on your tax bracket, that translates to about 25 cents in tax savings for each dollar you can deduct.
Dear Mary: I have a $200 debt collection item listed on my credit report, but I'm not sure whether it is correct. It might be a medical bill from when I was in college, but I have no proof that the item is legitimate. The statute of limitations in my state for the collector to sue me has passed, and I've read that most things drop off your credit report in seven years. It's been five since the debt was listed on my report. What would happen if I paid it? — Kelly G., Texas Dear Kelly: Because you do not know whether this item is correct, you should dispute it. If you were to pay it, you would reset the clock, so it would remain on your credit report for seven more years. Make sure you have a current credit report. Visit AnnualCreditReport.com to get it for free. Instructions on how to dispute it will come with the report. The law says that a credit bureau has 30 days from receipt of your dispute either to furnish you with credible evidence that you owe the debt or to remove the item from your report. You need to do this right away. Getting the item removed from your credit report will definitely improve your score. Do you have a question for Mary? E-mail her at mary@everydaycheapskate.com, or write to Everyday Cheapskate, P.O. Box 2135, Paramount, CA 90723. Mary Hunt is the founder of www.DebtProofLiving.com and author of 18 books, including "Can I Pay My Credit Card Bill With a Credit Card?" To find out more about Mary and read her past columns, please visit the Creators Syndicate Web page at www.creators.com. COPYRIGHT 2009 CREATORS.COM
|
||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
