The Credit Card Act: What does it mean for you?

Are you trying to control your debt during the job search?  Well, here is a little relief.  On May 22, 2009, President Obama signed the Credit Card Accountability Responsibility and Disclosure Act of 2009.   Features of the Act include: Creditors are required to notify a consumer in writing of any change in the annual percentage rate (APR) on the account at least 45 days prior to the...

Financial Advice for Job Seekers

Congratulations!  You are now an official member of one of the largest and fastest growing communities in the United States: The Unemployed.  Whether you are one of the 2.6 million laid off last year, or 598,000 last month, you are not alone! A new career awaits you and it is crucial that you are 100% committed to finding it.  Unfortunately, it’s hard to focus on the job search when...

5 Things to do with your Tax Refund.

Over $300 Billion in tax refunds is expected to be paid out to Americans this year.  What are you going to do with your piece of the pie?  Here are 5 suggestions: 1.  Pay Down Debt. With interest rates on credit cards averaging 13 to 14 percent, paying down your debt is one of the smartest things you can do with your refund check.   If you are behind on your mortgage, car or credit cards,...

COBRA: Demystified.

The new American Recovery and Reinvestment Act (ARRA) provides premium assistance to help involuntarily unemployed workers purchase their former employer’s COBRA or other continuation coverage.  Before we dive into the details of the ARRA, let’s cover the basics of COBRA. What is COBRA? COBRA is a federal law that allows people who leave jobs in businesses with 20 or more workers to...

Sit, Stay, Rollover?

Your 401k may be your largest investment account – it is important to manage it responsibly as soon as you are out of work.  Take a few minutes evaluate and decide whether you are better off leaving your retirement savings in your current qualified 401k retirement plan, or rolling over to an IRA, by way of an IRA rollover.  Here are some tips to help you decide: Advantages of the...