The Bottom Line

Two months ago, this series began with the question, “Have you thought about your taxes?” Now, as we count down the hours to the midway point in April, also known as the dreaded April 15 deadline, I would hope that you, dear reader, have not only thought about your taxes but are also ready for your taxes.

So, here are the Taxpert’s five basic, last-minute tips on filing your tax return, after the jump.
Read more…

Personal Finance, Taxes ask the taxpert, Taxes, tips

Trapped with credit card debt? So's the rest of America.

“Never spend your money before you have it.”
-Thomas Jefferson

Old T.J. got it right 200 years ago before the advent of credit cards, and on Wednesday, the Federal Reserve’s consumer credit report confirmed that Americans were finally beginning to follow this advice. Credit card debt is down 9.7% from $2.567 trillion to $2.56 trillion, or a change of $7.8 billion.

Why do Americans have so much credit card debt, even in this economy? The underlying theory of credit cards is that customers can spend money that they may or may not actually have.

Example: Your credit card limit is $1,000. As a student, you only have $500 in your checking account. Over the course of a month, you spend $500 on groceries, but then on impulse, you decide to buy a $500 Wii and charge it to your credit card because you figure, “Hey, I still have $500 on my credit card that I can spend (even though I might not have the same amount of money in my checking account)…let’s buy something with this money that I don’t actually have!” Read more…

Personal Finance, The Economy credit cards, debt, quotes

Poor girl looks like how I’ve been feeling since April began.

And so another month has begun, which means it’s time for another edition of “Buy, Sell, Hold.” Missed the last one? Catch up on it here.

Buy

• Housing in the high rises: The housing assignments for 2009-10 have been decided, and those who missed the boat on moving to the wind tunnel triad will be trying their luck elsewhere. Incoming freshmeatmen will have one less option among the three.
• Allergy medicine: Spring is in the air…and so is pollen, along with other allergens. Stock up on Claritin, and while you’re waiting in line at CVS, consider buying stock in its manufacturer, Schering Corporation (NYSE: SGP).

Sell

• Courses: No, seriously. Advanced registration may have ended for undergrads, but the MBAs over at Wharton will be busy “selling” their elective courses to each other through the course registration auction later this month. Pretty cool, huh? I think it overcomplicates life, but then again, I’ve always appreciated the relative straightforward aspect of PennInTouch.
• Accounting 102 students with a propensity for hacking: Yes, I can appreciate the ingenuity and skill level it takes to hack into a professor’s email account and scare the living daylights out of your entire class. But, dudes, that’s just not a cool to do to people who have things like other classes and extracurriculars or that little thing called “a life” to deal with.

Hold

• Another PennInTouch revamp: As a graduating senior, I won’t be here next year to fully benefit from the changes being made to PennInTouch over the summer. In any case, this stock has been upgraded to “hold” status by H&P’s rating to reflect the uncertainty of this venture.
• Onto luxury: After Fashion Week’s panel on whether or not luxuries will survive the recession, the picture’s not looking too pretty. I’m reluctant to downgrade this to “sell” because we all need a thought of something to make us happy on those bad days, whether it’s that nice pair of Manolos or the latest Blackberry.

Personal Finance buy sell hold