“That’s too much time and too much money,” says Gary Lundberg, product management director for CompleteTax (www.CompleteTax.com), an online income tax preparation program. “The good news is, there are a few easy things people can do that will help them save time and money doing their taxes, as well as make sure they get the biggest refund they’re due.”

As people get ready to file their 2009 tax returns, there are a few things they can do to save time and money.

1. Make sure you’re prepared.

Having a few key items available when you start your taxes will save a lot of time. These include:

* Your tax return from 2008
* Social Security numbers for you, your spouse and children
* All W-2s (wage and tax withheld form for 2009 supplied by your employer), 1099s (statements on investment income provided by your financial services institutions), mortgage interest statements and other statements related to income
* All statements related to expenses that you will be claiming on your tax return
* The routing numbers and account numbers for the accounts in which you want to directly deposit your tax refund.

2. Use an online tax program.

One advantages of using an online tax program is that many of the items you need to start your taxes – like your prior year’s return – can be stored by the program. So, you don’t have to waste time hunting down information every year.

More than 32 million people filed their tax returns from their home computers during 2009, up nearly 20 percent from the prior year, according to Internal Revenue Service data. That number is likely to continue to increase as more people realize the benefits of online tax prep and electronic filing.

Using the right online tax program makes it a lot easier and faster for people to finish their tax return with no need to go to the store or download a program onto their computer.

Online tax programs also are a lot more accurate. In fact, the IRS reports that an electronically prepared and filed return has an error rate of less than 1 percent, compared to an error rate of about 20 percent for a paper prepared return.

3. Free file if you can.

Depending upon how complicated a person’s taxes are, they may be able to prepare and e-file their tax return absolutely free. For example, if you don’t need to itemize, and only have a few simple requirements – such as claiming the Earned Income Tax Credit – you may be able to use a free online tax program. For example, CompleteTax offers a free version of its program and the IRS lists other providers participating in the Free File Alliance.

If your tax situation is more complicated – for example, you have itemized deductions, investment income or you are a small business owner – you will want to make sure to purchase the online solution that is tailored to your needs. Good online tax programs for people with general tax needs are available for less than $20 and even investors or small business owners who have more complicated returns can find solutions for less than $75.

“Completing your tax returns does not need to be a drain on your wallet,” says Lundberg. “The right tax program can save a taxpayer both time and money.”

4. Maximize your credits and deductions.

The average tax refund for 2008 was nearly $2,800. However, many taxpayers have the sinking feeling that they are not getting the tax breaks they should. In fact, according to an independent survey conducted by CompleteTax, two-thirds of 1,000 randomly surveyed taxpayers fear they may overlook tax breaks or make mistakes that could cost them in fines or penalties.

“There are dozens of credits and deductions that people may have available to them. So it’s important to make sure that the tax program they’re using is geared to identify these and guide them to options that will maximize their refund,” says Lundberg.

Some programs will also provide tools to help further ensure accuracy. For example, while millions of people donate clothing and household items to charities, few have any idea of the value. A tax program, such as CompleteTax, with a charitable donation calculator, provides an easy way for determining and documenting the fair market value of these items, helping you realize the greatest charitable contribution deductions you can.

5. E-file and use direct deposit.

Electronically filing and using direct deposit significantly increases how quickly taxpayers have access to their refund. Generally, e-filers can have their refund deposited directly into their accounts within a few days, compared to the weeks it takes to receive a mailed check. Certain tax programs also allow customers to split their refund and deposit it into three separate accounts. For example, you could deposit part in your checking account, part in your savings account and part directly into a tax-advantaged IRA account.

“E-filing and direct deposit don’t cost you anything, but they can mean you have your refund faster so that it can start working for you – whether that’s paying off debt, buying something you want or saving for the future,” Lundberg says.

Just as many of us have taken on extra work to make ends meet in this economy, everything we buy now must serve a dual purpose as well. It makes sense to spend your hard-earned dollars on items that not only do the job intended for them, but that also save you money in a variety of ways.

Not sure how to make money-maximizing, dual-purpose purchases? Here are a few tips:

* Make decor decisions that not only upgrade your enjoyment of your home, but that improve its energy efficiency as well. For example, thermal drapes in decorator colors will add punch to your decor and will also help retain heat. An energy-efficient electric stove can create a warm ambiance and help save on energy bills as well.

* Drop your gym membership, which likely costs you $50 a month, in favor of creating a home gym. You’ll save money in the long run, with many pieces of fitness training equipment costing just a few hundred dollars. Plus you’ll save gas money by driving less.

* Buy a bicycle and use it for short trips instead of the car. Again, you’ll reduce greenhouse gas emissions, and save money on gas – all while getting cardiovascular exercise that’s good for your health.

* Replace energy-consuming outdoor incandescent lights with low-cost, energy-efficient solar lighting. You’ll not only save money on energy bills, you’ll improve your home’s curb appeal and improve safety by lighting high-traffic areas at night.

* Skip the spa for aromatherapy, hair removal and manicures or pedicures. You can do all those things at home – with a spa-like experience – by obtaining the right devices. An electrolysis pen does home hair removal quickly and easily – and without the cost and inconvenience of going to the spa. A pair of Pedi Couture Sandals will soothe and relax your feet while gently separating the toes to make a self-pedicure simple. Purchase an aromatherapy diffuser and indulge in relaxing aromatherapy in the comfort of your own home at your convenience.

We all know getting life insurance is an important step in building a financial plan, and that it’s easy to put off getting a policy because of uncertainty about life insurance and how it works. With these 10 expert tips, you’ll be prepared to make the purchase that will protect you for life.

1. Consider why you need life insurance
Life insurance doesn’t simply insure your life; it helps ensure the well-being of your loved ones if you’re unable to do so.

2. Maintain your health
Make wise health decisions today – you may need to undergo a medical exam to determine your insurability. The better your health, the better your policy rate. Take advantage of the opportunity to save money by getting in shape.

3. Determine the right amount of coverage
Before selecting an insurance company, figure out how much coverage you need. Online calculators can help determine your life insurance and other financial needs. A simple, alternative approach is to multiply your annual salary by seven; the average recommended amount of coverage.

4. Choose a provider
One of the best ways to buy life insurance is directly through a life insurance company. Just like certain stores specialize in clothing or electronics, life insurance companies specialize too. Do research to find the one that fits your situation. Use the Internet, friends and family; they’re all valuable resources.

5. Consider your preferences
The Internet is one of the most efficient ways to maintain your policy. Find a company with the technology that allows you to manage your account and conduct transactions online. A good company will offer multiple alternatives. Perhaps you prefer to make transactions in another language, over the phone or in person. Look for a company that offers these options.

6. Do your homework
Once you have selected an insurance company, get a quote online so you have more information to help you in your decision-making process. Think over the questions you’ll be asked. Who are your beneficiaries? What’s your financial situation? What do you plan to use the coverage for?

Then call to speak with a licensed agent, or consider purchasing your policy online. Your agent will have an understanding of the changes you face that could affect your coverage or beneficiaries, and will work with you about coverage for life stages such as marriage, starting a family, or retirement.

7. Find the policy that works for your life stage
There are many different types of life insurance products, and learning about the available options will provide you the most comfort and security. A term policy will help you secure protection at the lowest rate for a specified period of time. If you can pay a little more money, a whole life policy may allow you to lock-in a more affordable rate early on, keep that rate for life, and give you the option to borrow the cash value of the policy.

8. Consider the financial benefits of the policy you choose
Life insurance policies offer many financial benefits. Under current tax laws, your beneficiaries may not have to pay federal income tax on the money they receive from a life insurance policy. Accelerated death benefit riders, under certain circumstances, may allow you to receive a percentage of your life insurance death benefits during your lifetime.

9. Create a relationship with your insurance company
When you speak with your insurance company, write down the name of the agent that helps you, and what’s discussed, so you’ll be prepared for any follow up. Check the company’s Web site for updates and take advantage of additional financial tools and resources the company has to offer.

10. Manage your financial future
Be proactive in making sure you have the right coverage at every stage of life. Periodically review your personal circumstances and the products you own. Make sure your coverage fits your needs and does not lapse.

More than 186 million cars are on the road in the United States, according to The Insurance Information Institute. Most states require drivers to purchase auto liability insurance before they can legally drive a car. Often drivers don’t understand what they need in an auto insurance policy or where to purchase it. There are many options and it is important to understand your individual needs.

Your preference on how to buy insurance, who to buy it from and what to buy are all important considerations. Most people don’t understand their liability insurance needs, whether to accept or reject uninsured motorist coverages, or how much of a deductible to assume on their comprehensive and collision coverages. These are important coverages and decisions, and it makes sense to consult with a professional – an independent agent – who can help you find the best coverage to fit your needs.

Some people prefer to talk with an independent agent in person, some via the phone; others work via e-mail or the Internet. Most agents offer all these services. The benefit of dealing with an agent is the advice, variety of products and companies they represent. This gives them a leg up in their ability to shop for the best price, products and service. The price can be less than buying on the Internet.

“We are committed to selling auto insurance through independent agents at Fireman’s Fund,” says Duke Daugherty, vice president of personal auto insurance at Fireman’s Fund Insurance Company, a company of Allianz, www.ffic.com. “The advice and guidance they provide customers, combined with the convenience of shopping for the best products and prices, is invaluable.”

Auto owners should look for coverages that fit their specific needs. Fireman’s Fund recommends these considerations when shopping for your auto policy:

1. Start with required coverages and then flex limits, deductibles and optional coverages around the price you’re willing to spend for the protection you desire.

2. Characteristics that often receive favorable pricing include:
* Good driving records.
* Stability, which includes continuous insurance with no lapse in coverage, greater than state required minimum limits of liability insurance, years with a prior carrier, home ownership, good to superior insurance scores, multiple policies with same carrier (home, auto, excess/umbrella, collections) and having more cars than drivers.

3. Look for credit where credit is due. Things like having multiple policies, including homeowners and excess/umbrella, a new car, a good student, accident/violation free or age 55 and retired can result in a credit.

4. Options that may be important to you:
* Six-month or one year policy term.
* Coverage for personal property.
* Key coverage.
* Repairs guaranteed.
* Transportation expenses.
* Coverage for audio tapes, compact discs, and other media.
* Upgrade to a hybrid vehicle after a total loss.

5. Premier coverages:
* Choice of repair shop and original manufacturer’s parts.
* Lock in car’s value at beginning of each policy term.
* Worldwide liability.
* Full glass replacement with no deductible.
* Comparable rental car up to $10,000.
* Roadside response included, and a tow to your preferred mechanic.
* Deductible waived when other party is at fault and has liability coverage.
* Trip interruption with living expenses up to $1,000.
* Pet coverage.

6. Pick appropriate limits. As you acquire more assets and make changes to your lifestyle it is important to review these limits with your agent. It may be beneficial to pick a higher deductible, get more liability coverage, or add an excess/umbrella policy to your portfolio of products. This helps lower the cost and/or increases your protection in the case of a loss.

7. Know the basics. Auto insurance can provide liability coverage, medical coverage and physical damage coverage:
* Liability coverage pays for the policyholder’s legal responsibility to others for bodily injury or property damage.
* Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.
* Physical damage coverage pays for damage to, or theft of, the car.

According to a 2008 study by Experian Automotive, the United States is still very much in love with the automobile, with a national average of 2.28 vehicles per household. Protect your family and your car by making knowledgeable decisions on insuring this important risk.

The change from one year to the next presents the perfect opportunity to reassess our lives – where we’ve been, where we are and where we intend to go next. With signs the economy is slowly recovering, many people are likely to re-examine their financial health again as 2009 gives way to 2010.

How is your financial health? If you’re not sure where to begin in assessing your fiscal well-being, here’s a brief checklist you can review to generate some good ideas.

Item No. 1 – Know your credit score and what’s on your report.

The recession has probably changed forever how we access, use and monitor credit. With more companies and organizations – from potential employers and medical offices to mortgage companies and auto lenders – looking to credit scores and reports to get an idea of your reliability, checking your report more than once a year is extremely important.

More Americans are turning to Web sites like FreeCreditReport.com to enroll in credit monitoring products, like Triple Advantage, that allow them to gain instant access to their free credit report and score, and includes daily monitoring of their credit reports at the three credit reporting agencies. Members receive notification alerts if key changes are detected on any of their credit reports so they can take immediate action, if necessary.

Item No. 2 – Build your savings.

It’s been widely reported that Americans are saving more in an effort to build a financial safety net for themselves and their families. This is one trend it pays to follow. Depending on your level of debt and monthly expenses, you should have savings to cover three or four months worth of bills in the event that you lose your income, experts say. And with job searches stretching over many months while unemployment rates remain high, some experts are advising you should have savings in the bank to cover more than six months of living expenses.

Item No. 3 – Reassess your mortgage.

With steady low mortgage rates and plenty of federal aid available to assist homeowners trapped in dangerous mortgages, it may be the right time for you to re-examine your mortgage. Are you in an adjustable rate mortgage that’s reset or is about to go to a much higher rate? Are you in a conventional mortgage that’s at a rate higher than what you might be able to find through refinancing? If you can lower your monthly payment, interest rate or the overall amount you’ll pay in interest for the life of the loan, it may be worth considering refinancing your mortgage.

For free mortgage advice, check out the federal government Web sites www.USA.gov and www.HUD.gov. Before you consider refinancing, be sure to check your credit report and score, as both may affect whether you qualify to refinance your mortgage.

Item No. 4 – Keep track of your identity through credit monitoring

Monitoring your credit report can help you spot some of the most common types of identity theft, including credit card and loan fraud. Web sites like FreeCreditReport.com allow you to enroll in a credit monitoring product that checks your credit report every day and alerts you right away if key changes are detected. If no new activity appears, you’ll receive an “all clear” notice every month. Monitoring allows you to spot suspicious or fraudulent activity, like the appearance of accounts you didn’t open or unpaid credit card charges you didn’t make.

With a little introspection and examination of your current finances, you can decide what steps you need to take to prepare to greet 2010 fiscally fit and financially confident.

Loan consolidation has its ups and downs, but, if handled properly, it can help a family afford to get out from under debt.

The average American household had $8,329 in credit card debt in 2008, according to the Nilson Report in April. And that didn’t depend on if the household currently had an active credit card open.

“Debt control and management is a possibility for everyone,” says Daniel Wesley at CreditLoan.com. “And there are many resources available – ranging from credit consolidation companies to credit counselors – that can help people bring their debt to a manageable level.”

Some tips to help evaluate if debt consolidation is an option for you are:

* Get organized

List all the debts you have, all the interest rates you’re paying and all the annual income your family brings in. Having all this information in front of you will help you to determine the best steps for bringing your debts under control. This is also a good time to manage your FICO score.

* Do the math

Calculate the interest rates for all the debts you’re paying now, and then calculate what your new interest payments will be for all the different consolidation options. The concern is that the new single interest rate through your credit card or bad credit loans will probably be a higher amount, so you need to make sure your overall payments are fewer than what you’re currently paying on multiple debts.

* Determine the risk

You can consolidate all your debt to one credit card that has a lower interest rate now, but there is the risk that those rates will increase in a year. And if you don’t have your debt paid down that quickly, this type of consolidation probably won’t make the best sense. Another type of consolidation is taking out a home equity loan, but with this, you have the risk of your home being taken away if you default on the payments.

While the number of auto and mortgage loans issued are down, and the effort it takes to get a good loan these days might seem daunting, there are signs that consumer lending is improving with positive economic reports. And even though dollars aren’t handed out as quickly or easily as they were just a few years ago, it is possible for a person to obtain a mortgage or auto loan.

Signs that consumer lending is improving include:

1. Interest rates remain low.
2. Banks are stronger and evaluating loan requests in depth.
3. Inflation is staying low.

Consumers interested in either a mortgage or auto loan should first review their credit scores to determine whether they can afford the loan. A bad credit score could mean denial or paying a lot of extra money. Federal law requires everyone to be able to access a free credit report from each of the three credit agencies once a year. With that credit report information, you can find out if your report has errors or if you have areas where you can work to improve your score.

“Once you have determined that your credit score will assist you in acquiring a mortgage or auto loan, you need to do some research on the loans available,” says Daniel Wesley at CreditLoan.com. “In the mortgage loan area, you need to investigate whether an Adjustable Rate Mortgage works better or a Fixed Rate Mortgage. And in the auto loan area, secured and unsecured loans are available through direct and indirect financing, giving you plenty of options to research to best fit your budget.”

ARMs are good if you plan to live in your house for only a few years because your mortgage rate will be fixed for a set number of years at a lower interest rate. But they can fluctuate quickly once the time period expires, increasing your payments greatly. You may be eligible for a refinance on the mortgage at that time – make sure you research the terms of your ARM closely.

Fixed Rate Mortgages – while higher than typical initial ARMs – are at a historic low, which has made these types of mortgages very popular. They are also popular for families looking to refinance.

Auto loan interest rates for new car purchases also have fallen from a year ago according to interest.com. Some tips for getting an auto loan include:

1. Check your credit report
2. Know what you can afford in payments
3. Determine whether a low-cost option is really the best idea in the long run

Consumers seeking out 0% credit card deals should approach such products with caution, it has been suggested.

Writing in an article for lovemoney.com, Neil Faulkner points out that, despite their title, such credit card products can often prove to be more costly than borrowers may first think.

He states that although balance transfer credit cards do not charge interest over the duration of their 0% period, they do implement an upfront transfer fee of around two or three per cent on the entire balance owed.

As such, this charge can turn out to be as expensive as an ordinary credit card which – despite not incurring an annual fee – has an interest rate of around 11 per cent.

To illustrate this, Mr Faulkner points out those owing £1,000 on a 10.7 per cent credit card will be able to clear off their balance in six equal repayments, which sees the total amount of interest paid off standing at £30, with such charges falling steadily each month.

Meanwhile, those opting for a six-month 0% balance transfer deal charging a three per cent fee will have also faced a £30 charge by the time they have completed their repayments – although this comes in the form of a one-off upfront charge.

However, as they are “an extremely cheap way to borrow” there are a number of ways balance transfer borrowers can get to grips with their debts more effectively. One means of doing this, the writer notes, is to compare accounts in order to seek out longer balance transfer deals or lower fees.

He also suggests only making the minimal monthly repayments until the last month of the balance transfer period before clearing off the money owed. By doing this, instead of paying off regular amounts, he suggests these additional funds should be placed into a saving account to generate interest and then used at the end of the transfer deal to clear off what borrowers owe. Such a practice “effectively means you’re earning interest on the money you’re borrowing”.

The advice on clearing credit card debt follows recent comments by Peter Sargent, president of insolvency trade body R3, that consumers should make clearing off their plastic their top financial priority.

Source: Which4U UK

Anyone with a credit card will tell you, interest rates can be crushing.

“I think it’s about 16 percent,” says one New Yorker.

“Right now on one of them, I’m paying 9 percent,” says another.

“I think it’s like 19 percent,” says a third.

So if you hear an offer that you can transfer your balance to a new card and get a zero-percent interest rate, the allure can be palpable.

“You think, ‘Wow, this is fantastic,’ but you know what? A lot of times this is too good to be true,” says Ellen Breslau, the executive editor of Women’s Day Magazine.

Breslau, who writes a blog called “Money Talks,” says the biggest pitfall of promotional rates is that the low annual percentage of rate generally only lasts about six months. After that, it can skyrocket to 20 percent or more. Miss a payment, and you could be looking at 25 to even 29 percent.

“Come on, that’s a quarter on the dollar!” says a New Yorker.

What’s more, check the fine print and you’ll find the money you think you’re saving by lowering your APR is often eaten away by transfer fees. They sound like small change but add up to big bucks.

“Three percent, 4 percent, it could be hundreds of dollars, so you need to think about that,’ says Breslau.

If you do decide to do a transfer, do not transfer more than half of your new limit, because that will leave you with very little available credit. It’s dangerous for you and raises a red flag for lenders.

Also avoid the urge to cut up your old cards after you transfer the debt.

“Don’t close them, because that’s going to reflect on your credit score and you’re going to have very little credit available,” says Breslau. “They’re going to see this person had a lot of credit and now they don’t have much. What happened there?”

Of course, not all offers are disasters waiting to happen. Breslau says if your credit score is over 700 and if the interest rate will remain low after the introductory period, it may be worth your while.

Better yet, she says, rather than pay the transfer fee and take your chances with a new company, work with your existing lender and see what they can offer you to get you to stay.

“Call them. It might take a few phone calls, you might have to speak to a manager, but guess what? They will probably lower your rate if you ask,” says Breslau. “All you need to do is ask.”

Finally, if you do decide to forego the balance transfer offer, be sure you shred it rather than just throw it away. If you don’t, someone else will be happy to take that offer and your identity along with it.

Source; NY1

Conducted in March, The Body Shop Sleep Survey of more than 1,000 people reveals the extent of sleep lost each night across the country as men and women toss and turn worrying about the economic crisis. Twenty-eight percent of people are suffering from at least one hour of less sleep each night than in previous years, with men more badly affected than women. And one in eight people are losing at least two hours more sleep per night than before the credit crunch kicked in.

Money Worries Are No. 1 Sleep-depriver

Not surprisingly, research carried out by The Body Shop reveals that money worries are the No. 1 sleep-depriver, cited by 38 percent of those surveyed. Furthermore, Americans are also having restless nights worrying about their families.

High up the list of things stopping people from nodding off at night are worries relating to:

* Job security (21 percent)
* Food bills (16 percent)
* Paying mortgage or rent (15 percent)
* Cost of heating bills (13 percent)

Sleepy and Less Productive

Sleep deprivation has a negative effect on productivity and stress levels. At a time when people are worrying about financial security, most people said that lack of sleep made it hard for them to concentrate, while 31 percent said it was more difficult to focus at work. Worryingly, the effects of sleep loss have been cited as being similar or worse than the effects of drinking alcohol to excess.

Twenty percent of people say they are more likely to argue with their partners when they are sleep-deprived, while a few have even admitted to snapping at strangers.

Sex is Snooze Solution, Say Men

So what’s the solution for a peaceful night? Sex, according to men. A frisky quarter of men revealed that this is their antidote to sleeplessness, compared with just 12.9 percent of women. However, topping the poll of sleeping aids are age-old remedies of hot baths and hot drinks, while counting sheep remains a popular alternative.

Sleep S.O.S.

The Body Shop Deep Sleep Dreamy Pillow & Body Mist could be the answer the nation’s insomniacs have been waiting for. This quick-drying mist-spray is packed with a soothing medley of chamomile, jujube date, geranium, juniper and patchouli essential oils to promote tranquility for a deeper, restful night of sleep. Applied to the pillow or body, the mist employs special encapsulation technology that allows bursts of active fragrance to be released throughout the night to aid more satisfying sleep.