If you haven’t filed your 2010 tax return yet, you are not the only one in the boat of procrastinators.  The IRS says as many as 25% of filers do so in the 2 weeks before the deadline.  The great thing about this year is that those who wait until the last minute have 3 extra days to file!  Usually the date is April 15th but, due to a holiday in DC the date to file by is Monday, April 18th.  Here’s a few tips for last minute tax filers:

1.)    Have all your records in one spot like w-2’s, receipts, interested statements…

2.)    Do a preliminary run through for preparation.

3.)    Based on your income and deductions be sure to use the IRS for questions.  They have call centers that will help you prepare your taxes and answer your questions, like:

•    How do you qualify for the Making Work Pay credit?
•    What is eligible to claim as tax credit for the Homebuyer Credit?

4.)    File for Free with the IRS File Free option if you make under $58,000.

5.)    If after you have gathered your info, asked the questions and still can’t get your taxes in on time, you can always file for an extension.  Your extension can be for up to 6 months.  You don’t want to get in a situation where you have to pay a penalty of 5% for not getting your payment in on time.

6.)    Be sure to always keep a copy for your records!

Once you've filed your 2010 return, just think, you have a whole year before you have to do it all over again!

Are you called a worrywart, a pessimist or even a downer?  Well maybe it’s time you take that as a compliment if you think of the ‘what-ifs’ in life and plan ahead you’re probably ready for anything, including your insurance needs!

Many people don’t plan for the unexpected so they find themselves in a tough situation when something catastrophic happens.  The changing weather has people in fear of flooding, hail and even tornadoes in some parts of the country.  Do you have the appropriate coverage on your home insurance and car insurance in case a natural disaster does hit your neighborhood?  In some cases flood insurance is not available, so those homeowners should look at stashing some money away to potentially redo their basement. 

Now for all those hypochondriacs out there, health insurance is probably something that has come in handy.  There are many insurance plans that range in price and coverage so you’ll have to shop around to find the right plan for you and your family.  Make sure to take into consideration your family history when looking at insurance quotes because cancer treatments and heart medications can really add up in cost if you’re uninsured. 

What happens if the unthinkable happens and you’re no longer here to take care of your family?  Life insurance is there to make sure your family is taken care of after you’re gone.   

It can be tough to think about these devastating events and hopefully they never happen to you or your loved ones but if you’re prepared it can lessen the pain of the unexpected in life.

If you are looking to buy a new home or refinance your existing mortgage loan, be prepared that the process may not be as easy as you think.  With the unemployment rates, extremely low home prices and foreclosures on the rise, consumers are finding it difficult to get financing. Even if you have good credit and a down payment, you may still have to jump through hoops to get your loan.

Some things that lenders may look at, besides your credit score is:

- Loan to value ratio – some lenders may require this to be at or around 85% or less.

    - 1st and 2nd mortgages along with any additional cash requested will need to be considered for a mortgage refinance, home equity line of credit or debt consolidation loans.

- A down payment for a new home loan may be required up to 3.5% or more.

If you are a first-time homebuyer, be sure to do your research on the house you are interested in as well. Know your mortgage options and if there is federal or state aid available to help with your purchase.

How many times have you walked into a department store, found the perfect items, gotten up to the counter, and then got hit with, “Apply for our store card and get 10% off today.” Or “Do you want to save 25% on your purchase today?”  10% and 25% are sweet offers to hear when purchasing those perfect items, but are they really that great of a deal? 

A department store card from places like Kohls or Home Depot can be helpful for building credit but can also be dangerous at destroying it as well.  To play it safe, think about why you are going to get that credit card.  Are you turned on by the initial savings, do you shop at that particular store a lot, or is this a means to get what you want and not what you need? 

Let’s look into this a little deeper.  Are you turned on by the initial savings and how often will you save 10 and 25 percent?  Department stores credit cards are known as a one time offers. There is usually an attractive introductory interest rate or percentage off your purchase.  But that is JUST initially.  Investigate the credit card before you sign up at the cash register.  Read the fine print.  Find out what fees are associated with that particular department store credit card.  Specifically looking at interest rates, late charges, over-the-limit fees, and the annual percentage rates (APR).

Do you shop at that particular store often? (ie:  Lowes, Walmart or Old Navy.)  Whether you answer yes or no, there’s still a lot to consider:  What kind of points or sales does that credit card offer, do you build points towards another purchase, or are there special services that you can take advantage of?  Can you pay the balance off at the store?  So after you select the perfect Valentines Day present and  put it on your Target card , you can then turn around and pay for it at the counter?  What kind of grace period is attached to that credit card?  If you don’t shop there often, consider how many times you have applied for credit cards.  Each time, your credit score is evaluated your credit report is affected.

Is this a means to get what you want and not necessarily what you need?  You can’t buy necessities like groceries or make payments for the electric bill on a Sears card.  Consider how many credit cards you already have and remember it isn’t the number of credit cards you hold but the way in which you pay on them; i.e. paying your total amount due and on time.

After taking everything into consideration, is that department store credit card worth it versus just sliding your debit card or bank card?  If you want a credit card that will offer you long term rewards, look for one that offers cashback, travel or APR incentives on your every day purchases.

For those having a good credit history, a personal loan may be a good alternative to a home equity loan or mortgage financing.  A personal loan is a loan that’s not backed by collateral. It‘s also known as a signature loan or unsecured loan.  An unsecured loan is usually based on the borrower's integrity and ability to pay. 

A person loan is typically a short term loan that can be used for a variety of things such as home improvement, patio furniture, digital cameras, vacations, or to pay off high interest debt.

For people looking for an unsecured loan, but have bad credit history or no credit history, a cash advance may be an option.  A Cash Advance or Payday Loan is a very short term loan that’s typically based on the applicants having a regular paycheck.