December 2011 GreetingsMay you have a joyous December and a Prosperous New Year!
October - November 2011 Newsgram
The Federal Trade Commission (FTC) Offers Advice on Getting the Best Deal Shopping Online this Holiday Season
Set a Budget. Create a gift list and check it twice to help you stay on track and not overspend.
Decide What Matters. Especially if you're buying gadgets, know what your "must-have" features are versus those that are just nice to have.
Use Search Engines. Type a company or product name into your search engine with terms like "review," "complaint" or "scam" to find out more about it.
Read Reviews Online. Reviews from other people, experts, and columnists can give you an idea of how a product performs. But don't put all of your trust in one review.
Consider Reputation. A brand's reputation for quality and good customer service can really pay off.
Check Comparison Shopping Sites. They connect to many retailers selling the same product, sometimes at significantly different prices. Keep shipping costs in mind.
Consider Coupons. Some companies offer discounts via e-mail, and some websites collect and list codes for free shipping and other discounts. Search for the store with terms like "discount," "coupon" or "free shipping."
Read Return Policies. Not all stores have the same rules. Some charge fees for return shipping or restocking things like electronics.
Decide How to Pay. When you shop online, credit cards can offer extra protections.
Look for a Secure Checkout. Does the website start with https (the "s" stands for secure) when you're checking out?
For hassle-free online shopping, keep records like e-mails and online receipts in case there's a problem. Also, make sure you know who you're dealing with and protect your personal and financial information, since anyone can set up shop online under almost any name.
To read this article at the FTC website, click http://www.ftc.gov/opa/2011/11/holidayshopping.shtm
September 2011 Newsgram - Employment Situation
The U.S. Bureau of Labor Statistics within the U.S. Department of Labor reported the number of unemployed persons, at 14.0 million, was essentially unchanged in August 2011 compared to July 2011, and the unemployment rate held at 9.1 percent. The unemployment rate has shown little change since April 2011.
The table below shows unemployment rates among the major worker groups
| | Percentage % |
|---|
adult men | 8.9 |
|---|
adult women | 8.0 |
|---|
teenagers | 25.4 |
|---|
| whites | 8.0 |
|---|
blacks | 16.7 |
|---|
| Hispanics | 11.3 |
|---|
Asians | 7.1 |
|---|
To read the complete Employment Situation Summary, click: http://www.bls.gov/news.release/empsit.nr0.htm
The employment downturn is fertile ground for Job-Hunting/Job Scams. Ads for work-at-home opportunities may appeal to you. But before you send in any money in response to an offer, check it out. Fraudulent promoters use the classifieds and the Internet to tout all kinds of work-at-home offers, from medical billing and envelope stuffing to assembly and craft work. Too often, these ads make promises about earnings, merchandise, or marketability that sound great, but aren’t truthful. The result: consumers can get ripped off.
To Do
Before you spend money responding to placement firms or completing placement contracts:
· Reject any company that promises to get you a job.
· Be skeptical of any employment-service firm that charges first, even if it guarantees refunds.
· Get a copy of the firm’s contract and read it carefully before you pay any money. Understand the terms and conditions of the firm’s refund policy. Make sure you understand what services the firm will provide and what you’ll be responsible for doing. If oral promises are made, but don’t appear in the contract, think twice about doing business with the firm.
· Take your time reading the contract. Don’t be caught up in a rush to pay for services. Stay away from high-pressure sales pitches that require you to pay now or risk losing out on an opportunity.
· Be cautious about purchasing services or products from a firm that’s reluctant to answer your questions.
· Be aware that some listing services and “consultants” write their ads to sound like they are jobs when they’re selling general information about getting a job.
· Follow up with the offices of any company or organization mentioned in an ad or an interview by an employment service to find out if the company is really hiring.
· Be wary of firms promoting “previously undisclosed” federal government jobs. All federal positions are announced to the public on www.usajobs.gov.
· Check with your local consumer protection agency, state Attorney General’s Office, and the Better Business Bureau to see if any complaints have been filed about a company with which you intend to do business. You also may contact these organizations if you have a problem with an employment-service firm.
To read this information at the Federal Trade Commission’s website, click: http://www.ftc.gov/bcp/edu/microsites/moneymatters/jobs-hunting-scams.shtml
August Newsgram 2011- Hurricane Preparedness Get an Emergency Supply Kit, which includes items like non-perishable food, water, a battery-powered or hand-crank radio, extra flashlights and batteries. You may want to prepare a portable kit and keep it in your car in case you are told to evacuate. Make a Family Emergency Plan. Your family may not be together when disaster strikes, so it is important to know how you will contact one another, how you will get back together and what you will do in case of an emergency.
You should also:
· Ensure a supply of water for sanitary purposes such as cleaning and flushing toilets. Fill the bathtub and other large containers with water.
· Turn off utilities as instructed. Otherwise, turn the refrigerator thermostat to its coldest setting and keep its doors closed.
· Cover all of your home's windows with pre-cut ply wood or hurricane shutters to protect your windows from high winds.
· Plan to bring in all outdoor furniture, decorations, garbage cans and anything else that is not tied down.
· Keep all trees and shrubs well trimmed so they are more wind resistant.
· Secure your home by closing shutters, and securing outdoor objects or bringing them inside.
· Turn off propane tanks.
· Install a generator for emergencies
· Reinforce your garage doors; if wind enters a garage, it can cause dangerous and expensive structural damage.
· Find out how to keep food safe during and after and emergency by visiting www.FoodSafety.gov.
For more information, click http://www.ready.gov/america/beinformed/hurricanes.html
July Newsgram 2011- Wealth Disparity
A Pew Research Center analysis of data finds that in 2009, the typical black household had $5,677 in Net Worth (assets minus debts), the typical Hispanic household had $6,325 in wealth and the typical white household had $113,149. Accordingly, the Pew Research Center finds the median wealth of white households is 20 times that of black households and 18 times that of Hispanic households.
The Pew Research Center finds that, percentage wise, the housing market decline beginning in 2006 and the recession that followed had a greater impact on the Net Worth of minorities than whites. According to Pew, because minorities had much of their wealth tied to the equity in their homes, when home equity declined, so did wealth (or Net Worth).
The Pew Research Center’s full report is at http://pewsocialtrends.org/2011/07/26/wealth-gaps-rise-to-record-highs-between-whites-blacks-hispanics/.
June Newsgram 2011- New Car Fuel Label
Beginning with model year 2013, the Federal Government is requiring new fuel economy labels that will help consumers take advantage of the increased gas efficiency standards. The new labels will provide more comprehensive fuel efficiency information, including estimated annual fuel costs, fuel savings, and information on each vehicle’s environmental impact. This comprehensive information will help American car buyers make a car choice that will save gas money and prevent air pollution.
The new labels will for the first time provide:
· New ways to compare energy use and cost between new-technology cars that use electricity and conventional cars that are gasoline-powered.
· Useful estimates on how much consumers will save or spend on fuel over the next five years compared to the average new vehicle.
· Easy-to-read ratings of how a model compares to all others for smog emissions and emissions of pollution that contribute to climate change.
· An estimate of how much fuel or electricity it takes to drive 100 miles.
· Information on the driving range and charging time of an electric vehicle.
· A QR Code® is registered trademark of DENSO WAVE INCORPORATED that will allow users of smartphones to access online information about how various models compare on fuel economy and other environmental and energy factors. This tool will also allow consumers to enter information about their typical commutes and driving behavior in order to get a more precise estimate of fuel costs and savings.
The new labels are required by the Energy Independence and Security Act of 2007.
Consumers can get more information on the new label at: http://fueleconomy.gov/label
May Newsgram 2011- Just Say No
Unsolicited Mail, Telemarketing and Email: Where to Go to “Just Say No”
Tired of having your mailbox crammed with unsolicited mail, including preapproved credit card applications? Fed up with getting telemarketing calls just as you're sitting down to dinner? Fuming that your email inbox is chock-full of unsolicited advertising? The good news is that you can cut down on the number of unsolicited mailings, calls, and emails you receive by learning where to go to "just say no."
Consumer Reporting Companies. If you decide that you don't want to receive prescreened offers of credit and insurance, you have two choices: You can opt out of receiving them for five years or opt out of receiving them permanently.
To opt out for five years: Call toll-free 1-888-5-OPT-OUT (1-888-567-8688) or visit www.optoutprescreen.com. The phone number and website are operated by the major consumer reporting companies.
To opt out permanently: You may begin the permanent Opt-Out process online at www.optoutprescreeen.com. To complete your request, you must return the signed Permanent Opt-Out Election form, which will be provided after you initiate your online request.
When you call or visit the website, you'll be asked to provide certain personal information, including your home telephone number, name, Social Security number, and date of birth. The information you provide is confidential and will be used only to process your request to opt out.
If you don't have access to the Internet, you may send a written request to permanently opt out to each of the major consumer reporting companies. Make sure your request includes your home telephone number, name, Social Security number, and date of birth.
To read the entire article at the FTC website, click: http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt063.shtm
April Newsgram 2011- Your Free Annual Credit Reports
You can request your free credit report online, by phone or by mail. Visit AnnualCreditReport.com, call 1-877-322-8228, or fill out the Annual Credit Report Request form and mail it to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. No matter how you request your report, you have the option to request all three reports at once or to order one report at a time. By requesting the reports separately, you can monitor your credit more frequently throughout the year.
Why should you request your credit report?
Because the information in your credit report is used to evaluate your applications for credit, insurance, employment, and renting a home, you should be sure the information is accurate and up-to-date. In addition, monitoring your credit is one of the best ways to spot identity theft. Check your credit report at least once a year to correct errors and detect unauthorized activity.
What should you look for when you review your credit report?
If you see accounts you don’t recognize or information that is inaccurate, contact the credit reporting agency and the information provider. For more information, read the Federal Trade Commission's (FTC) tips on how to dispute credit errors.
If you suspect identity theft, you may need to place a fraud alert on your credit report, close compromised accounts, file a complaint with the FTC, or file a police report. Start by visiting the FTC’s identity theft website.
To read this information at the FTC website, click: http://www.ftc.gov/bcp/edu/microsites/freereports/index.shtml
March Newsgram 2011- Free File your Federal Income Tax Return
The IRS website provides the following information: Free File is a free service that offers free federal tax preparation and e-file options for all taxpayers. Free File is made possible through a public-private partnership between the IRS and commercial tax software companies. All taxpayers have a Free File option.
Everyone can use IRS Free File. If your adjusted gross income was $58,000 or less in 2010, use brand-name software to do your taxes for free. If your income was more, use Free File Fillable Forms.
Taxes can be, well, taxing. Free File does the hard work for you. There's no need for you to be a tax expert. Software provides step-by-step guidance. You get a more accurate tax return. It helps you get the tax credit and deductions you're due. And you can transmit your return electronically for free with IRS e-file. Best of all, if you use e-file and select direct deposit, you can get your refund in as few as 10 days.
IRS e-file is the highly secure way to transmit your federal tax return to the IRS. It uses the latest encryption standards to safely and securely protect your personal data.
To read this information at the IRS website, click: www.freefile.irs.gov/
February Newsgram 2011- Americans are saving more money and climbing out of debt.
The Washington Post reported data from the Federal Reserve Bank of New York that showed that compared to 2008, when consumer debt peaked, Americans now have less mortgage debt, auto loans and credit card debt. The same article cited U.S. Department of Commerce data that showed Americans are saving at nearly triple the rate they did between 2007 and 2009, setting aside 5.3% of their disposable income in December.
It's the start of a new year, be determined to save more in 2011 than you saved in 2010. Start by reviewing your investments and determine whether your investment choices should be revised, updated, etc.
To read the Washington Post article, click http://www.washingtonpost.com/wp-dyn/content/article/2011/02/15/AR2011021502605.html
To calculate your personal Net Worth, click on the calculator at : http://www.americasaves.org/resources/estimators.asp
January Newsgram 2011- FICA Tax Decrease
Did you receive a 2% raise in your January paycheck? For employees who pay Social Security (Old-Age Survivors, and Disability Insurance (OASDI) or FICA) taxes, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 provides a 2% payroll tax cut for employees. This cut reduces their Social Security tax withholding rate from 6.2% to 4.2% of wages paid.
The maximum amount of wages subject to the Social Security tax for 2011 is $106,800. For example, an employee who earns $110,000 in wages would not have to pay FICA taxes on $3,200 of wages in 2011. There is no limit on the amount of wages subject to the Medicare tax.
For wages paid in 2011, employees pay 4.2% and employers pay 6.2% in FICA taxes. Thus, an individual with wages equal to or larger than $106,800 would contribute $4,485.60 to the FICA program in 2011, and his or her employer would contribute $6,621.60. Self-employed workers pay 10.4 percent in OASDI taxes on income in 2011. By law, the FICA trust fund will receive taxes as if the tax rates were 6.2% for employees and employers, each, and 12.4% for self-employed workers. The reduction in 2011 tax revenue due to lower tax rates will be made up by transfers from the general fund of the Treasury to the trust funds. See http://www.socialsecurity.gov/OACT/COLA/cbb.html
Taxpayers will also see a variety of other benefits impacting several different tax years under the new legislation signed into law on Dec. 17, 2010. To read a summary of these new benefits, visit: http://www.irs.gov/newsroom/article/0,,id=233907,00.html