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A richer 2012: A monthly guide to maximizing money

20.05.12

Throughout the year, there are steps you can take to away with extra cash, whether it's booking airline tickets a month in advance or background aside tax-free wages to pay for health care. In many cases, these actions can sequel in substantial savings over time.

The problem is these moves typically require some exceedingly of planning. And when you're juggling work and the daily tasks of life, such opportunities have a way of sitting on the back burner until it's too unpunctually.

To avoid another year of missed chances, here is a manual to simple money-saving moves you can make each month in the year up ahead. Scan it now to see whether there are any particular dates or actions you want to flag, and keep the list to hand.

You may discover you've been leaving free money on the table for years.

JANUARY

Owing: It's a perennial New Year 's resolution, but there's extra incentive to pay down your debt right now. Currency still isn't earning much interest sitting in deposit accounts, with the average rate for a one-year CD clocking in at moral 0.35%, according to Bankrate.com . So if you're sitting on extra savings, consider using it to complete off any accumulating credit card debt.

TAXES: To make the most of your taxes, christen a file folder or kitchen drawer where you can keep receipts and other necessary paper. A clich roadblock when filing returns is a lack of documents to claim deductions.

COLLEGE: Families with college-fastened kids will want to get their taxes squared away early. The income and asset figures from the returns will be needed to fill out the Released Application for Federal Student Aid (FAFSA), which should be completed as soon as possible after Jan. 1. An pioneer application improves the chances of receiving aid from multiple sources. To fill out the form, go to fafsa.ed.gov .

FEBRUARY

SPENDING: Flowers can become a big part of your Valentine's Day spending, remarkably if you procrastinate. If you plan on sending a bouquet, start browsing websites untimely to avoid inflated delivery charges on last-minute orders.

CREDIT CARDS: Wall-to-wall credit card reforms have banned a number of misleading billing practices. But the new rules don't set guidelines on rewards programs, which cardholders often prove inadequate to use to their full potential. Take a few minutes to understand the caps, expiration dates and redemption method of your program; a few tweaks to your spending habits could boost the cash back rewards or points that you bring in.

ENTERTAINMENT: If you realize you haven't seen any of the Oscar nominated films even though you've been paying for reward TV channels, it might be time to trim your cable package. The trial offers you were specified when first signing up may also have expired.

ENTERTAINMENT: While you're at it, commit to a cap on how much you'll spend on online entertainment each month. It's trusting to lose sight of how much you're spending when all you have to do is click "buy."

MARCH

TRAVEL: If you're planning a dart break, remember that the best time to book a flight is four to six weeks before traveling; prices for any disposed flight are generally highest in the few weeks just before and after that time frame. Airlines also come forward the most sales on Tuesdays, Wednesdays and Thursdays.

SPENDING: As you store away your depressing-weather gear, make a list of any items that need to be replaced for next winter. Then hit the permission sales and avoid impulse buys by shopping only for items on your list.

APRIL

TAXES: Don't horror if you haven't filed your taxes yet. You have until October if you file for an extension, but you'll need to do that, and pay any taxes that are due.

BANKING: In honor of Ground Day , check to see if you can save a few bucks by opting for e-statements. The monthly service fee for a fundamental checking account at U.S. Bank, for example, is $6.95 when customers opt for e-statements. If customers opt for ms statements, however, their monthly fee is $8.95. And while you're making tweaks to your bank account, ruminate on setting up automatic bill pay to avoid late fees.

MAY

SPENDING: If you're dining out on Mummy's Day , go online to see if there are any deals available at your mom's favorite restaurants. Start with sites such as BiteHunter.com and Restaurant.com ; if your mom is a staunch food junkie, try EatDrinkDeals.com .

HOME: Before the weather gets too hot, consider investing in a more effective air conditioner to save on energy costs. Keep in mind that getting a unit that's too mighty for the space you're cooling can be just as wasteful as getting one that's too weak. The recommended capacities for a variety of room sizes can be found at energystar.gov .

COLLEGE: If you're the parent of a high school sophomore or secondary, start planning a tour of college campuses this fall. Think about coordinating the visits with another stumble and try to get in as many nearby campuses as possible to minimize travel costs.

JUNE

SPENDING: If you have multiple merger ceremonies to attend this summer, think about where you can cut corners. This could be as simple as limiting how much you splash out on new clothes or teaming up with others to buy group presents.

HOME: It's National Homeownership Month and interest rates on mortgages should still be close to being record lows. If you're still not sure whether you're ready to become a homeowner, check out the renting versus buying abacus on Ginnie Mae's website .

HOME: Homeowners should check whether it's worth refinancing. The encyclopedic rule of thumb is that the new rate should be at least 1.5 percentage points below your current class. Otherwise closing costs may not make the savings worthwhile.

JULY

INVESTING: The mid-year checkup on your investment portfolio is even more judgemental in times of market volatility. You want to be sure that market gains and losses haven't knocked your mix of stocks, bonds and hard cash out of balance. If you don't have a financial planner, consider rebalancing with the help of an online portfolio means.

HEALTHCARE: If you're inspired by the Olympics set to take place in London, check whether your employer offers any discounts for salubrity club memberships or programs.

COLLEGE: This is the time of year that families apply for hush-hush student loans to bridge funding gaps for college. When evaluating the options, be sure you construe whether the loan has a variable interest rate and what the options would be if payments can't be honored. The rates and terms on unofficial student loans are far less forgiving than on federal student loans.

AUGUST

SPENDING: Several states proffer tax holidays for back-to-school items on a designated weekend. The timing varies by express, but tax holidays usually start early in the month. If your state had a tax holiday last year, it may run again this year. The Alliance for Tax Administrators offers a list of this year's dates and qualifying purchases.

About: It's time for a little number crunching. Set aside an hour or two to review your summer travel and play expenses. See how much your vacation ended up costing, compared with how much you intended to spend. Survive a note of unexpected expenses you could have avoided and file it away for next summer.

SEPTEMBER

COLLEGE: The position in college costs has far outpaced the rate of inflation; tuition and fees alone are an average of $17,000 a year at exposed universities. In honor of National College Savings Month, consider setting up a 529 college savings diagram for your child. These work like 401(k) accounts and let families invest in the retail and withdraw money tax-free to pay for education. Each state offers its own plan; families can swear in in plan from any state they like, but there are often tax benefits to picking one from home.

SPENDING: The vacation shopping season is rapidly approaching. Keep spending in check by starting to pay down in financial difficulty and mapping out a budget.

OCTOBER

HEALTHCARE: Open enrollment season arrives in workplaces across the sticks. Many companies have been tweaking their benefits to keep pace with rising health care costs, so cope sure you're still signed up for the plan that best fits your needs. Also consider commencement a flexible spending account for health care costs. These accounts let you set aside tax-relieved of wages for items such as copays and medications.

HEALTHCARE: While you're thinking about healthcare, don't omit to evaluate how much you spend on medications. Over-the-counter drugs are as much as 50% cheaper at Quarry and Wal-Mart than at supermarkets, according to Consumer Reports . The big box retailers also charge $4 for a 30-day yield of many generic prescriptions, or $10 for a 90-day supply. Other chains, such as CVS and Rite Aid , proffer similar programs.

NOVEMBER

INSURANCE: As you start to review your expenses for the olden times year, check whether you can cut your auto insurance payment. If you have some savings, you may be able to cut your rate with a higher deductible, or you may not need as much coverage if your car has aged and depreciated in value since you first signed up for coverage. A totally driving record since then may also qualify you for a lower rate.

Source: USA TODAY

LSCS handles more aid requests

20.05.12

The Lone Name College System is processing a “tsunami” of financial aid requests this year.

College officials processed 38,000 requests as of at cock crow December, LSCS Chancellor Richard Carpenter said, which twice as many as last year. That’s partly from a advance in enrollment, said Jed Young, LCSC executive director of communications.

“First, with purposes more students attending Lone Star College over the past couple of years, it follows that the amount of monetary aid requests would increase and that more students would receive assistance as a result,” Young said.

For the 2010-11 educational institution year, 26,472 of the 62,339 LSCS students (42 percent) received a combined $128 million in monetary aid, such as federal grants, loans or work study; state grants or work retreat or local scholarships.

For fall 2011 alone, 25,341 of the 75,680 LSCS students (34 percent) have received a combined $78 million. Experience semester figures are not yet final and have not been released.

“That accounts for the biggest part of the increase in economic aid – Lone Star College has more students enrolled,” Young said. “ … I dream there’s going to be a substantial increase when we see the totals.”

In October, LSCS was named the largest community college in Texas.

In budgetary year 2007, more than 616,000 students (approximately 51 percent of total enrollment) attending higher lore institutions in Texas received more than $5.35 billion in federal, state and institutional economic aid, according to the Texas Higher Education Coordinating Board website, www.thecb.say.tx.us .

The majority (60 percent) of the aid received was in the form of loans, followed by 39 percent in grants and 1 percent in calling study. Nationally, loans make up 50 percent of financial aid received, grants 49 percent, and labour study 1 percent.

Statewide, public community colleges awarded $774.9 million in fiscal aid to 223,882 students in fiscal year 2007, according to www.thecb.state.tx.us . While all students attending foremost education institutions receive financial aid, those attending Texas public universities received the greatest slice ($2.98 billion) in fiscal year 2007.

This is the third semester Rabeesah Sheikh, of Kingwood, has received monetary aid. She is studying accounting at LSC-Kingwood.

“Without financial aid, I wouldn’t have been able to go to college,” she said. “Economic aid has really helped me pay for the expense of college.”

She encourages other students to fill out the Free Application for Federal Admirer Aid to see if they qualify for federal funding. It’s the federal government that increased financial aid funding this year, Green said.

For fall 2011, federal grants, loans and work study programs account for less $370 million in financial aid funds provided to LSCS students, according to text provided by LSCS.

While the federal government increased financial aid funding, the Texas Legislature cut teaching funds across the board. The cuts happened at the same time that enrollment spiked at LSCS. The college strayed roughly $10 million in state funding while adding 18,000 students in the last two years, The Courier theretofore reported in May.

LSCS also done a better job of working with students to help them with the financial aid process, at the start through centralization of financial aid resources and with increased communication to students – on the LSCS website and other notices on the college campuses, Youthful said.

“This fall, LSCS’ Carpenter created a LSCS recriminate force to analyze the process internally, identify any potential obstacles that students may look and to recommend solutions,” Young stated. “That process is relentless through the start of the spring semester, but the expectation is that the task force members will advance other operational improvements to help students with the financial aid process.”

This was Jonnie Paddord’s first semester at LSC-Tomball. She is studying for an associate in study degree.

All LSCS financial aid applicants must meet three Satisfactory Academic Extension requirements, prescribed by federal regulation, to receive financial aid, according to a LSCS reporters release. SAP requirements include maintaining a cumulative grade point mediocre of 2.0, successfully completing 70 percent of cumulative credits attempted and earning a stage or certificate within 150 percent of the published length in credit hours of the declared program of memorize.

“The financial aid is helping me with the money,” she said.

However, some of her friends weren’t as opportune.

“They just have to cut back their classes and it’ll take them longer to get their degree,” Pafford said of moll of hers who didn’t receive financial aid. “ … We’re in a tight economy situation and everyone is hurting. Everybody could use fiscal aid and right now everybody wants to go back to school to get a better job.”

To find out more about Satisfactory Academic Advance, visit LoneStar.edu/satisfactory-academic-progress .

To learn more about LSCS, affect lonestar.edu .

Source: Your Houston News