http://www.mncpa.org/information/Manage-Your-Money/ Money Management is an ongoing series of helpful articles, tips, and information provided by the Minnesota Society of CPAs. en-us Copyright 2002-2009. Minnesota Society of CPAs. All Rights Reserved. Tue, 6 Jan 2009 05:19 CST 20 http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=400http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=400When opening a checking or savings account, security and convenience top the list of must-haves. But how do you know which bank, savings and loan or other choice is the right one for you?Mon, 5 Jan 2009 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=397http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=397What's on your wish list for the future? Do you dream about taking a special vacation, buying a home or retiring to a dream location? With the proper planning, it's possible to reach many or all of your goals. The MNCPA offers tips on how to do it.Sun, 28 Dec 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=396http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=396Is it a good idea to buy a service contract when you are making an important purchase? According to the TFC, roughly 50% of the people who buy new or used cars or major appliances purchase service contracts. But you should be prepared to ask a lot of questions before you sign up for one.Mon, 22 Dec 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=395http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=395Many people find gift cards to be a convenient and thoughtful way to allow friends and family to choose their own presents at the holidays. While this may be true, some potential pitfalls to be aware of when giving or receiving a gift card.Mon, 15 Dec 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=394http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=394The holidays are a fun and exciting time of year, but they are also a time when you can end up spending more than you expected. Keep in mind that you don't have to bust your budget in order to show how much you care. Here are some tips for reining in spending while partaking in the generous spirit of the season.Mon, 8 Dec 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=393http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=393Although April 15 may seem a long way off, now is the time to make sure you've taken advantage of some of the tax breaks available to you in 2008. That's because many opportunities to reduce your tax bill will expire once the new year begins.Mon, 1 Dec 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=389http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=389Skyrocketing gas prices have gotten a lot of media attention this year, but the costs of many basic goods have also crept higher, taking a toll on their monthly budgets. The MNCPA offers these suggestions on the best ways to boost the cash in your pocket.Mon, 24 Nov 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=390http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=390It's a good idea for everyone to take steps to ensure that their wishes are carried out in case of their illness or death. According to the Minnesota Society of CPAs (MNCPA), there are a number of legal documents that can communicate your wishes and make life easier for your loved ones.Mon, 17 Nov 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=392http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=392Some parents spend years saving for their children's college education, while others scramble to search out scholarships and loans at the last minute. No matter which approach you've taken, there are tax breaks available for qualifying taxpayers paying education bills.Mon, 10 Nov 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=391http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=391This is the time of year when many high school seniors are finalizing their decisions about which colleges they will apply to. That means that it's time for their parents to give serious consideration to how they are going to pay for that college education. The Minnesota Society of CPAs (MNCPA) provides some smart financing ideas to follow.Mon, 3 Nov 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=387http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=387Home heating prices have skyrocketed in recent years, leaving people scrambling to find ways to cut their energy expenses. Given the soaring cost of fuel in recent months, there's good reason to believe that this year will be another expensive one. There are several ways to conserve energy and lower your heating bills, without sacrificing your own comfort. Here are some of their timely suggestions.Mon, 27 Oct 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=388http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=388Consumer fraud is big business. An estimated 13.5 percent of American adults were identified as fraud victims in one study by the Federal Trade Commission. There are many different types of crimes involved, including tax refund scams, fraudulent weight-loss programs, phony lottery or prize schemes and bogus work-at-home scams. You don't have to be a victim, you can take steps to avoid being a victim.Mon, 20 Oct 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=386http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=386What would happen to your family's finances if you or your spouse were to die unexpectedly? Would it be easy for the surviving loved ones to get back on their feet financially? The MNCPA offers tips to ensure that your family is financially prepared to cope with a death in the family.Mon, 13 Oct 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=385http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=385Natural or manmade disasters can strike at any time. The MNCPA advises that proper planning and preparation before disaster strikes is crucial.Mon, 6 Oct 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=384http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=384Do you know what will happen to your business when you retire? By necessity, many busy small business owners spend all of their time thinking about the here and now, with little opportunity to focus on the future.Mon, 29 Sep 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=383http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=383The global markets offer tremendous business opportunity, and a growing number of small businesses are taking advantage of them. About 97% of the exporters in the United States are small companies, based on statistics from the U.S. Small Business Administration.Mon, 22 Sep 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=382http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=382You have a great idea for a new product or service and you're going to turn it into a winning business. Over 600,000 new businesses are launched in the United States. To succeed, they will need the funding to get started and to keep them running during the early days. It's important for every aspiring business owner to understand the ABCs of financing a new business.Mon, 15 Sep 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=381http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=381A family business can be a very rewarding enterprise. Family businesses are a major contributor to the overall economy, employing over 60% of the U.S. workforce. But they also face unique problems that are unknown at other companies.If you are involved in a family business or plan to start one, CPAs offer these tips to overcome some of these issues.Mon, 8 Sep 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=380http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=380Many thriving businesses begin with someone's great idea for a product or service. While that first inspiration is critical to any successful company, it's also necessary to have a solid roadmap for the future. That's why every company ought to have a business plan, a document that charts where your business stands today and where you plan to go.Mon, 1 Sep 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=379http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=379Every year, taxpayers wade through piles of financial documents to find the information they need to file their taxes. But what happens to all that paperwork once you've mailed your return? How long do you have to hold on to your records in case of a tax audit or similar concern down the road? While there are few hard and fast rules, there are some general guidelines you can follow.Mon, 25 Aug 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=378http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=378Are you overlooking the value of keeping your savings in a mutual fund? Mutual funds allow you to buy into a diverse pool of investments. Your risk is spread among a number of investments, which is a less risky choice than investing in just one company. There are typically charges associated with any investment, however, and that's also true of mutual funds. When choosing the best investment for you, it's a good idea to understand those fees and how they will affect your investment.Mon, 18 Aug 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=377http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=377Choosing when to retire and start drawing Social Security benefits is an important decision, and one that is unique to each individual. You can begin taking payments as early as age 62, based on Social Security regulations, but when you retire will have an effect on the amount of the payment you receive.Mon, 11 Aug 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=376http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=376What steps have you taken to keep your financial information and personal records confidential? You may be surprised to learn how many honest---and dishonest---people could have access to the details of your financial life. If you want to maintain better control over your privacy, tips on how to safeguard your information.Mon, 4 Aug 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=375http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=375Are you and your spouse completely familiar with each other's financial situation? In case of an unexpected emergency, it's a good idea to have up-to-date knowledge of the details and location of each other's financial records and documents. Here are some questions each spouse should be able to answer about his or her partner's finances.Mon, 28 Jul 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=374http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=374A low credit score could be costing you money. People with poor scores usually pay higher interest rates, which translates into larger monthly payments for a mortgage or an auto or student loan. Poor scores can also cause you problems when renting an apartment, signing up for a cell phone plan or even getting the job you want. Learn about steps you can take to try to improve your score.Mon, 21 Jul 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=373http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=373In these uncertain financial times, even those with excellent credit histories may have trouble getting a mortgage or other type of loan. That's why it's important to know your credit score and the effect it may have on your checkbook.Mon, 14 Jul 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=372http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=372Are you earning the salary you deserve? In a tight economy, many people are finding that they aren't receiving impressive increases when evaluation time rolls around. Don't despair. There are some steps you can take to maximize your chances for a fatter paycheck.Tue, 8 Jul 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=399http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=399When opening a checking or savings account, security and convenience top the list of must-haves. But how do you know which bank, savings and loan or other choice is the right one for you?Sat, 5 Jan 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=398http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=398When opening a checking or savings account, security and convenience top the list of must-haves. But how do you know which bank, savings and loan or other choice is the right one for you?Sat, 5 Jan 2008 00:00 CST