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 2002-2008. Minnesota Society of CPAs. All Rights Reserved. Fri, 9 May 2008 09:34 CST 20 http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=363http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=363With the end of the school year fast approaching, many families are beginning to plan their summer vacations. Travel expenses can take a big bite out of your budget, but the MNCPA advises that there are many ways to make your vacation dollar go further.Thu, 8 May 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=362http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=362Many parents hope their children can secure a scholarship so that they can further their education without exhausting the family's savings. With scholarship dollars often hard to come by, and parents anxious to get them, it's no surprise that "scholarship fraud" is on the rise. In fact, people taken in by scholarship scams lose a total of $100 million annually, according to the college planning site FinAid.org.Fri, 2 May 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=361http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=361The number of cases of identity theft committed against children is on the rise, according to the Federal Trade Commission. And parents may be completely unaware until the child is one day denied a driver's license or a college tuition loan because of the bad record that an identity thief has built in the child's name. The MNCPA offers a series of steps you can take to prevent your child from becoming a victim.Mon, 28 Apr 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=360http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=360Identity theft encompasses a range of crimes. One truly alarming twist on this trend is medical identity theft, a crime that can threaten your family's well-being. Get an overview of medical identity theft and steps you can take to avoid becoming a victim.Mon, 21 Apr 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=359http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=359Building up too much debt---and failing to manage your outstanding balances wisely---can be costly mistakes. Many American families have allowed their debt to get out of control, but there are smart steps you can take to remedy the problem.Mon, 14 Apr 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=358http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=358The average American household spends $1,900 a year on energy bills, according to the government's ENERGY STAR program. There are many practical ways to cut down on costs and when you reduce your energy use. These tips will help you save money and do the earth a favor.Mon, 7 Apr 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=357http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=357What's the best advice for people who are buying or refinancing a home? Shopping around for the best mortgage deal you can find and being informed about the right questions to ask mortgage lenders can be the most important things that you do.Sun, 30 Mar 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=355http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=355Your sanity is a terrible thing to waste, which is why the MNCPA offers a list of ten tax time tips to help you keep your wits this tax season.Fri, 28 Mar 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=356http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=356Given the bad times that have occurred in real estate prices lately, many first-time buyers may be wondering if this is a good time to enter the market. Purchasing a home can be an excellent investment, but there are some important issues to consider before you do.Mon, 24 Mar 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=354http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=354Anyone who is in the military or has family members that serve our country should be aware of some of the special tax breaks and programs available to them. Deployed soldiers can also receive free tax preparation from CPAs.Mon, 17 Mar 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=350http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=350As the April 15 tax filing deadline nears, many people will be in the enviable position of receiving a tax refund. It's a nice surprise to get back some of the money you paid in taxes during the year. It's also a great opportunity to make some sound financial decisions that will reap benefits now and in the future. So before you splurge all of your newfound funds, consider some money-wise alternatives.Mon, 10 Mar 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=353http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=353When you think about filing your tax return, do you have more questions than answers? The entire process can be confusing and frustrating, but a little information can make the experience a lot more bearable. Get some common tax season questions, along with practical answers from the MNCPA.Thu, 28 Feb 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=347http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=347The loss of a job, a sudden illness or another crisis can spell financial trouble for any family. Sometimes, however, people make small mistakes that add up over time to create big problems for their finances. CPAs recommend that you watch out for these warning signs that can signal potential financials pitfalls.Mon, 25 Feb 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=352http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=352Many members of the Baby Boom generation are trying to balance supporting a parent while also raising a youngster or providing financial help to an adult child. That can put a squeeze on adults in their middle years, often known as the "Sandwich Generation." The Minnesota Society of CPAs (MNCPA) recommends that this group take a number of steps to cope with competing financial demands.Mon, 18 Feb 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=351http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=351Are you or a loved one enrolled in Medicare? This government health insurance program for older Americans offers many choices in terms of coverage and available plans. Given this wide range of options, it is important for those enrolled in Medicare understand the options available to them.Mon, 11 Feb 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=349http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=349The average employee contribution for health insurance has soared over 143 percent since 2000. Typical out-of-pocket expenses that consumers pay for deductibles, prescription copayments and coinsurance for doctor and hospital visits have jumped 115 percent during the same period, based on facts compiled by the National Coalition on Health Care. You and your family can still afford to receive the treatment you need by taking some simple steps to limit your costs.Mon, 4 Feb 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=348http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=348Employers are increasingly shifting the responsibility for retirement savings to the employee. That means that workers must take an active role in planning---and saving--for their retirement. The good news is that there are many tax-advantaged options that can enhance the growth and earnings power of your retirement nest egg.Mon, 28 Jan 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=345http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=345There's a reward for donating to charity, because it also qualifies you to take tax deductions for your donations. However, recent changes in the tax law have made a difference on which deductions you are allowed to claim.Mon, 21 Jan 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=344http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=344What are your financial aspirations for the coming year? Would you like to pay off some high-interest debt? Step up your retirement savings? Set aside enough for an exciting vacation? The MNCPA recommends that you take several wise steps to turn your financial dreams into realistic goals.Mon, 14 Jan 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=343http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=343Paying off debt and saving money are among the most popular new year's resolutions. Get some helpful tips to help you meet financial objectives in the coming months.Fri, 4 Jan 2008 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=342http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=342Do you have enough money available to pay for unforeseen expenses in a crisis? The best way to make sure you do is to set up an emergency fund that you can tap into when the unexpected happens.Mon, 24 Dec 2007 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=341http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=341Identity theft occurs when someone uses your identification---such as your Social Security number or credit card number---without authorization to commit a crime. When it comes to identity theft, prevention is the best defense.Mon, 17 Dec 2007 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=340http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=340The average cost of a private room in a nursing home is about $200 a day, or roughly $75,000 a year, according to a survey by the MetLife Mature Market Institute. And by 2020, 12 million older Americans will need long-term care, including nursing home stays, according to the U.S. Department of Health and Human Services.Mon, 10 Dec 2007 00:00 CSThttp://www.mncpa.org/information/Manage-Your-Money/view.asp?id=339http://www.mncpa.org/information/Manage-Your-Money/view.asp?id=339When buying presents at this time of year, people often spend a lot of money without being sure that they've really found the right gift. While it is surely the thought that counts, it's also great to be able to give a present that's truly appreciated by the recipient.Mon, 3 Dec 2007 00:00 CST