Thursday

8 Tuition-Free Colleges

by Scott Allen, http://blogs.static.mentalfloss.com/blogs/archives/22573.html

Buzz up!on Yahoo!

During difficult economic times, the cost of higher education leaves many students wondering if they can afford to go to college. For those who want to avoid being saddled with huge loans, the U.S. government offers one of the best deals around: Enroll at one of the five service academies tuition-free and receive free room and board. (And you thought the Grand Slam promotion at Denny’s was cool.) But if military service isn’t for you, here are eight other schools that offer tuition-free educations:
1. College of the Ozarks

ozarks.jpgSeveral schools
share the “Linebacker U” and “Quarterback U” monikers in reference to the NFL talent that their college football programs produce, but the only “Hard Work U” is located in Point Lookout, Missouri. In 1973, a Wall Street Journal reporter bestowed that title on the College of the Ozarks, where students pay no tuition and work at least 15 hours a week at a campus work station. Jobs are taken seriously at the school of 1,400; students are graded on their work performance in addition to their academics.

History: In 1906, Presbyterian missionary James Forsythe helped open the School of the Ozarks to provide a Christian high school education to children in the Ozarks region, which spans parts of Missouri, Arkansas, Oklahoma, and Kansas. The school added a two-year junior college 50 years later and completed its transition to a four-year college program in 1965. The school was renamed College of the Ozarks in 1990 and has established itself as one of the top liberal arts colleges in the Midwest.

Notable: College of the Ozarks was No. 4 on the Princeton Review’s list of the top 10 Stone-Cold Sober schools in 2008.

Famous Alum: Actress and model April Scott, who played Daisy Duke in the straight-to-DVD prequel of Dukes of Hazzard – Dukes of Hazzard: The Beginning. Scott has also appeared in Entourage, as a briefcase-toting model on Deal or No Deal, and on various magazine covers.

How to Spend the Money Saved on Tuition: Silver Dollar City, an amusement park in nearby Branson, Mo., harkens back to simpler times with its 1880s theme. In addition to thrills, roller coasters at the park offer scenic views of the Ozarks.
2. Deep Springs College

dsfarm.jpgDeep Springs is a two-year, all-male liberal arts college located on a cattle ranch and alfalfa farm in the Inyo-White Mountains of California’s High Desert. To get an idea of just how isolated the school is, consider the explanation for its policy forbidding smoking in any of the school’s buildings or near hay bales: “We’re 45 minutes from the nearest emergency services, so a fire could be disastrous.” Every student admitted – 10 to 15 per year – receives free tuition, room, and board, and works at least 20 hours a week on the ranch. The manual labor ranges from washing dishes to milking cows. Most students complete their degrees at prestigious four-year schools after leaving Deep Springs.

History: Deep Springs was founded by Lucien Lucius Nunn, a pioneer in electrical engineering who helped design the Ontario Power Plant at Niagara Falls. While working for the Telluride Power Company, which provided power to gold mines, Nunn invited young men to work for him in exchange for an education. The work-study program became known as the Telluride Institute in 1905. Nunn was driven out of the company in 1912 by a powerful stockholder who believed Nunn’s unconventional means of attracting workers was detrimental to the business. Nunn decided to start a completely new educational endeavor at Deep Springs, which admitted its first class of 20 in 1917.

Notable: Academics, labor, and self-governance are the three pillars of the Deep Springs experience. Students have a say in what subjects to study, what professors to hire, and even what applicants to admit.

Famous Alum: William T. Vollmann, a novelist and journalist with a propensity for writing about dangerous firsthand experiences, including a trip into Afghanistan with the Mujahideen in 1982. Vollmann has written more than 20 books, including Europe Central, which won the 2005 National Book Award for Fiction.

How to Spend the Money Saved on Tuition: Given that students are generally prohibited from leaving the ranch during the semester, online shopping via the somewhat reliable Internet connection is one of the only viable options.
3. UC-Irvine School of Law, Class of ’12

UCI.jpg

In an effort to attract the best and brightest students for its inaugural class, the UC Irvine School of Law is offering a free ride to all 60 students admitted this fall. Dean Erwin Chemerinsky, a constitutional law scholar, told reporters, “Our goal is to be a top-20 law school from the first time we are ranked.” By early February, the number of applicants at California’s first new public law school in 40 years had topped 1,000. The school will rely on grants and donations to cover the estimated $6 million it will cost to put each of the students in the first class through the program.

History: There is some precedent for a professional school offering free tuition to its inaugural class. In 2008, the Central Florida College of Medicine received nearly 3,000 applicants after offering the same deal to each member of its inaugural class.

Notable: Chemerinsky, an adamant defender of the separation of church and state, as well as abortion rights, was hired, fired amid political pressure from conservatives one week later, and then rehired as Irvine’s law school dean in 2007.

Famous Alum: You? It’s not too late to apply.

How to Spend the Money Saved on Tuition: In-N-Out burgers. Lots and lots of In-N-Out burgers.
4. Berea College

berea_college.jpgThanks to a large endowment, every student admitted to Berea College in Kentucky receives a full-tuition scholarship valued at more than $90,000. Students are required to work at least 10 hours a week in one of more than 140 departments, and while room, board, and books are not covered, the work-study program enables some of the 1,500 students to lighten their financial load even more. Berea offers degrees in 28 fields.

History: Berea was founded in 1855 by Rev. John Fee – an ironic name for the founder of a tuition-free college if there ever was one – as the first interracial and coed college in the South. Classes at the school were fully integrated until the Kentucky Legislature passed a law in 1904 that prohibited school integration. The law was amended in 1950 to allow integrated education above the high school level and Berea returned to its roots, becoming the first school in Kentucky to re-open its doors to African-Americans.

Notable: Berea’s motto is “God has made of one blood all peoples of the earth.”

Famous Alum: Carter G. Woodson, an African-American historian, journalist, and author. After graduating with a Bachelor of Literature degree from Berea, Woodson earned his PhD and taught at Howard University. He pioneered the celebration of “Negro History Week” in 1926, which would serve as the precursor to “Black History Month” as we know it today.

How to Spend the Money Saved on Tuition: Berea is home to the Kentucky Artisan Center, a 25,000-square-foot facility that showcases Kentucky-made arts and crafts in a variety of exhibits.
5. Olin College of Engineering

college9.jpgOlin College is a school of 300 in Neeedham, Mass., where every admitted student receives four years of free tuition valued at $130,000. The school is funded by a $400 million grant from the F.W. Olin Foundation and ranks as one of the top undergraduate engineering programs in the country. There is great emphasis placed on philanthropy at Olin; students are encouraged to develop creative ideas that address societal needs and help make the world a better place.

History: The school is named for Franklin W. Olin, who founded the Olin Corporation and made a fortune selling ammunition. Olin was a great philanthropist, too. Since 1938, the F.W. Olin Foundation has contributed more than $300 million in grants to colleges and universities throughout the country. The same foundation financed the development of Olin College, which was completed in 2002. The school graduated its first class in 2006.

Notable: Indicative of the entrepreneurial spirit of the school, six Olin students are taking a year off to develop educational Internet software – think Google Docs meets Facebook – for local middle school students. The students expect the software, which will include built-in features that allow parents and teachers to interact with and monitor their students’ work, to be operational by mid-April.

Famous Alum: He’s not exactly famous, but Alex Dorsk does have a cleverly titled blog chronicling his time aboard a research vessel with the Woods Hole Oceanographic Institution.

How to Spend the Money Saved on Tuition: Honor the legacy of F.W. Olin, who played two years of professional baseball after graduating from Cornell, with a trip to Fenway Park in nearby Boston.
6. Cooper Union

cooper.jpgLocated in Manhattan, Cooper Union offers degree programs in art, architecture, and engineering, and every admitted student receives four years of free tuition valued at $130,000. According to a recent article in the New York Times, applications for early decision to the school were up 70 percent this year. The admissions rate at Cooper Union is about 8 percent, while the enrollment is a little more than 900. The Cooper Union endowment is valued at nearly $600 million.

History: Peter Cooper, who invented the first locomotive in the United States, believed that education of the highest quality should be “as free as air and water,” so he founded Cooper Union in 1858. Cooper’s greatest legacy may have come 14 years earlier, when he received the first American patent for powdered gelatin. A cough syrup manufacturer bought the patent from Cooper, developed a prepackaged gelatin dessert, and named it Jell-O in 1897.

Notable: The Great Hall on the Cooper Union campus has been the site of several historic speeches. Abraham Lincoln outlined his views on slavery – namely that he didn’t want to see it spread – in a famous address there, while Mark Twain spoke at the school’s inauguration.

Famous Alum: Milton Glaser, who founded New York Magazine and designed the ubiquitous I Love New York logo.

How to Spend the Money Saved on Tuition: Fifth Avenue is a start.
7. Curtis Institute of Music

curtis.jpg

Like Juillard, the Curtis Institute of Music is considered one of the most prestigious performing arts conservatories in the world. Unlike Juillard, tuition at Curtis is free. Every student admitted to the school of 160 in Philadelphia is provided a full scholarship, and all piano, harpsichord, composition, and conducting majors are lent Steinway grand pianos. As part of their training, students at Curtis host over 100 public concerts each year, and receive one-on-one instruction from the musically accomplished faculty.

History: Mary Louise Curtis Bok founded the Curtis Institute in 1924 as a place for talented young performers to prepare for careers as professional musicians. She named the school in honor of her father, Cyrus Curtis, the founder of Ladies Home Journal and a fellow music lover.

Notable: According to the school’s Web site, 17 percent of the principal chairs in America’s top 25 orchestras and four music directorships in the top 50 are held by Curtis-trained musicians. More than sixty alumni have performed with the Metropolitan Opera.

Famous Alum: Anthony McGill, a member of the Metropolitan Opera and the clarinetist in the quartet that played at Barack Obama’s Inauguration last month. Also: Leonard Bernstein.

How to Spend the Money Saved on Tuition: Buy a membership to the Franklin Institute to supplement your musical education.
8. Alice Lloyd College

alice.jpgAll students at Alice Lloyd College in Pippa Passes, Ky., are required to work at least 10 hours per week in exchange for free tuition. Students who need additional financial aid to pay for room and board may work up to 15 hours per week. Jobs at the school of 550 are assigned based on a student’s work experience and personal preference.

History: Alice Spencer Geddes Lloyd, a former publisher and editor of The Cambridge Press, moved from Boston to Eastern Kentucky in 1916. With the help of June Buchanan, Lloyd chartered what was then called Caney Junior College in 1923. The school became an accredited four-year college in 1980.

Notable: The call letters for Alice Lloyd College’s non-commercial radio station, which has broadcast inspirational programming around the clock since 1998, are WWJD-FM.

Famous Alum: Carl D. Perkins, who served in the U.S. House of Representatives from 1949 until his death in 1984. Perkins’s legacy lives on in the form of the Perkins Loan, a need-based Federal student loan.

How to Spend the Money Saved on Tuition: Elk were introduced to Kentucky in 1997 as part of a restoration project and Knott County, which includes Pippa Passes, is now known as the elk capital of the East. Tours are available through several outlets.

at 1:18 PM 0 comments

Sunday

USTA and Pacific Northwest USTA



Our section includes Alaska, Washington, Oregon, Northern Idaho - above the 45th parallel - and British Columbia, Canada, making it the largest geographical section of the United States Tennis Association. Over 23,000 members and 200 volunteers make up the backbone for grassroots tennis in the region. We strive for excellence and are dedicated to serving tennis enthusiasts throughout the Pacific Northwest.

Please visit our website often as we will have frequent updates on tennis news and events throughout the Pacific Northwest. Don't forget to sign up for our e-newsletter that will bring you even more local tennis news (simply click here to sign up). Your comments are always welcome so please feel free to email the USTA Pacific Northwest at info@pnw.usta.com so that we are able to bring you the best website possible.

Pacific Northwest
4840 SW Western Ave.
Ste. 300
Beaverton, OR 97005-3430
(503) 520-1877
FAX:(503) 520-0133
info@pnw.usta.com

http://www.pnw.usta.com/

http://www.usta.com/

Mission Statement: To Promote and Develop the Growth of Tennis
The United States Tennis Association (USTA) is the national governing body for the sport of tennis and the recognized leader in promoting and developing the sport’s growth on every level in the United States, from local communities to the crown jewel of the professional game, the US Open.

Established in 1881, the USTA is a progressive and diverse not-for-profit organization whose volunteers, professional staff, and financial resources support a single mission: to promote and develop the growth of tennis.

The USTA is the largest tennis organization in the world, with 17 geographical sections, more than 700,000 individual members and 7,000 organizational members, thousands of volunteers, and a professional staff dedicated to growing the game.

Community Tennis
Community Tennis strives to grow tennis at every level with a goal of making the game accessible to everyone. It supports a wide range of programs designed to help people learn the game, play the game, and benefit from its many health/fitness and social benefits.

Community Tennis is also working hand in hand with the USTA’s seventeen sections, committed volunteers, and industry partners on the largest new player initiative that tennis, or any other sport, has ever conducted—to promote the benefits of tennis to new players and drive them to one of the thousands of Tennis Welcome Center facilities across the country that offer introductory group lessons and playing opportunities for new or lapsed players.

Professional Tennis
Professional Tennis manages all aspects of the USTA’s involvement in the professional sport, including the US Open — the world’s largest attended annual sporting event — and the Olympus US Open Series, which links 9 summer tournaments to the US Open.

It also oversees three professional tour events, 94 Pro Circuit events nationwide, all operations of the USTA Billie Jean King National Tennis Center — the world’s largest public tennis facility and home of the US Open — and it manages and selects the U.S. teams for Davis Cup, Fed Cup, the Olympics, and the Paralympic Games.

Designed to operate as a true sports marketing, entertainment and media group, Professional Tennis generates — through television, sponsorship, ticket sales, merchandising, membership, and advanced media — the revenue for funding the USTA mission and works to increase the popularity of the pro game to positively affect player participation.

USTA Player Development
USTA Player Development facilitates the development of world-class American champions by providing promising players with access to the best training, coaching, and competition. This mission is facilitated through enhanced coaching education programs, top supplemental coaching in men’s and women’s tennis, and junior competition programs on the national and international level.

USTA Pro Circuit
The USTA Pro Circuit, the world’s largest professional tour for tennis development, provides the next generation of American champions with the opportunity to play against world-class competition without having to travel abroad.

Diversity
Embracing diversity and encouraging multicultural outreach efforts is essential to achieving the USTA mission to grow the sport of tennis. The USTA is committed to fostering a tennis environment that is more inclusive and inviting to all people. In working to expand the image of tennis, the USTA is focused on broadening and increasing multicultural participation in the sport and serving as a model for all organizations that aspire to successful growth and an inclusive environment.

at 10:39 AM 26 comments

Thursday

The Foundation of a Better Life

We are a non-profit organization dedicated to sharing the values that make a difference in our communities. We create public service campaigns that model the benefits of a life lived by positive values. In turn, we hope to inspire people to make values a part of their own lives, and then to communicate the benefits to others.

http://www.forbetterlife.org/

Values

VALUES. NO MATTER WHERE WE LIVE, WE LIVE BY VALUES. AND BECAUSE THEY ARE WORTH MORE WHEN WE PASS THEM ON, THE FOUNDATION FOR A BETTER LIFE CHOSE THESE VALUES TO SHARE. EXPLORE EACH ONE HERE.

at 11:20 PM 0 comments

Monday

USTA College Scholarships

USTA College Scholarships

Apply for USTA Pacific Northwest and
USTA Serves college scholarships, Player Incentive Award
The application for the USTA Pacific Northwest Glenn Lovett College Scholarship is now available. The section scholarship was renamed last year in honor of former USTA Pacific Northwest Secretary-Treasurer Glenn Lovett who passed away in November of 2007. Glenn was an avid tennis player and volunteer who contributed critical advice, a positive attitude and good humor during his tenure on the USTA Pacific Northwest Board of Directors.

Criteria for those applying for the section scholarship is as follows:
• Current membership in the USTA Pacific Northwest Section (USTA/PNW).
• Participation as a tennis player in the USTA/PNW.
• Personal character, strong values, community involvement and good sportsmanship.
• Financial need.

High school seniors graudating in 2009 are encouraged to apply. Please click here to view and print the USTA college scholarship application form. Please click here to view and print the 2009 college scholarship application directions and information.

NOTE: By completing and submitting this scholarship application to the USTA/PNW office, you will be considered for the USTA Pacific Northwest Glenn Lovett College Scholarship as well as the USTA Serves (formerly known as the USTA Tennis & Education Foundation) college scholarships that you choose to select on your application (please see descriptions of each below). There is only one (1) application that is used for all scholarships.

All applicants will assemble and submit, in one envelope, the application, required supporting documentation, and a current photograph. All endorsements and transcripts must be submitted in sealed envelopes with the endorser’s or guidance counselor’s signature over the seal.

USTA Serves college scholarships

In addition to those offered by the USTA/PNW, the following scholarships are being awarded through USTA Serves:
• Marian Wood Baird Scholarship
• Dwight F. Davis Memorial Scholarship
• Dwight Mosley Scholarship
• College Education Scholarship
• Eve Kraft Education & College Scholarship
• College Text Book Scholarship

Please click here to view a chart that lists the specific qualifications for each of the above scholarships. You can also refer to the 2009 USTA Serves College Scholarship Program information sheet for a complete description of each the scholarships that are available.

Applications for both the USTA/PNW Glenn Lovett College Scholarship and USTA Serves college scholarships must be postmarked by February 9, 2009.

Mail all completed applications to:

USTA Pacific Northwest
Attn: Scholarship Application
4840 SW Western Ave, Suite #300
Beaverton, OR 97005

If you have any questions during the application process please feel free to contact USTA/PNW Communications Coordinator Hillary Moore by email at moore@pnw.usta.com or by phone at (503) 520-1877, x21.

at 7:49 PM 0 comments

Thursday

29 Ways to Save More Money During The Recession

Not sure how you'll survive the current economic crisis? Stick to these 29 money basics and you'll thrive anytime.

By Beth Kobliner
From Reader's Digest
Check out our online money guide for mortgage advice, calculators and more.

The financial gurus will be debating for years how we got into the mess we're in-and how we'll get out of it. But while the talking heads are talking, you'd like to know how to shore up your resources so you won't have to worry about every little hiccup in the stock market. Here are time-tested strategies you can master—how to spend less, reduce your debt, make the most of your tax breaks, and finance your retirement. The idea, says William Speciale, a Boston-based adviser with the financial planning firm Calibre, is to focus on what you can control: "Little steps can really make a huge difference."

Taxes
Forget the short form. Most taxpayers-65 percent of us, to be specific-just take the standard deduction. But you may save money by itemizing your deductible expenses. It doesn't matter if you use an online program (like turbotax.intuit.com or completetax.com), a current tax guide, or a storefront preparer. Out-of-pocket health care charges, business expenses (including some for job searches), and charitable donations are just a few of the items you may be able to deduct. Fill out the long form, known as the 1040, and compare numbers. If your total deductions are greater than $5,450 (the standard deduction for 2008 for a single person) or $10,900 (for a married couple filing jointly), you'll save money by itemizing when you file.

Your kids should file a tax return. The Internal Revenue Service (IRS) doesn't care how old they are. If they earn more than $5,450 in a given year (in wages and/or interest income), they have to file-even if you claim them as dependents. And if they make less than that, they should still file because they'll get back all the money their employer withheld. Help them fill out the paperwork. It's a great learning experience that may earn them some extra cash. Avoid a tax refund. You may feel giddy knowing you'll get a check from the IRS this spring, but you shouldn't. Getting money back means you're essentially lending money, interest free, to the government for the year. Better to have that cash in your account than lend it to Uncle Sam. So if you've been getting big refunds or have had a big life change (a marriage, a baby, a divorce, a radical increase or decrease in income), adjust the withholding allowances on your W-4 form. You can do that for your 2009 taxes now at irs.gov. Use the withholding calculator to determine the correct figure for you. Then print a new W-4, fill it out, and give it to your payroll department.

Avoid "rapid refund" programs. Sure, they sound great. After all, what can be better than getting your money fast? A tax-prep chain might try to get you to agree to one of these "instant" or "anticipation" options. Don't take the bait. This is not your refund. It's a loan—and a very high-interest loan at that. The average for 2008 was 123 percent. If you file electronically, even if it's through a tax chain, the IRS will deposit your refund directly into your bank account within a week or two.

Checking and Savings
Make sure your free checking is really free. A lot of banks advertise it, but read the fine print. If the minimum balance is steep-thousands of dollars, in some cases—look for a bank with no minimum requirement. This could save $100 a year or more. Bankrate.com is a good site for comparing accounts. (And don't waste $2 on ATM withdrawals at another bank's machines.)

Bank online. You'll be surprised how easy it is to pay bills, transfer funds, save automatically, and keep track of it all. In fact, gathering records at tax time will be a cinch. And by setting up the automatic bill-payment option, you'll help protect your credit score. Banking online is actually safer than banking at a brick-and-mortar institution. Banks have spent a fortune to make sure their sites are among the most secure on the Internet. Besides, most cases of identity theft happen the old-fashioned way—by crooks who raid your mailbox.

Keep your money in supersafe places. Aim to amass at least six months of emergency expenses, in case you lose your job or become disabled. Where's the best place to keep it? FDIC-insured bank savings, CD, and money market accounts are still three of the most secure places. (The government recently increased the limit it will insure to $250,000 per account until December 31, 2009.) Money market funds that invest in Treasury bills are supersafe, too, but low yielding. Internet banks and credit unions tend to pay higher interest rates, but go to fdic.gov and check to make sure they offer the same government-insured guarantee. Look into Series I bonds, or I bonds, which are just as safe and are guaranteed to keep up with inflation. They're also free from state and local taxes (and possibly federal tax, if you use them for college costs). The downside? You can't redeem them for at least a year. And if you cash them in before five years, there's a small penalty. Other savings options, including corporate and tax-exempt money market funds, are a bit riskier. Compare yields at cranedata.us.
Debt
Cut up your extra credit cards. But don't close the accounts. Yes, it's smart to reduce your temptation to splurge by destroying your cards. But if you actually cancel them, it could hurt your credit rating. Here's why: Lenders worry about how close you are to using all the credit available to you. If you close an account, you lose its credit line. As a result, you are using a greater portion of the reduced amount you can now borrow. How many cards do you need? While the average American household has nine, two or three active cards should be plenty.

Pay your bills on time. A single late payment means that you could pay a much higher interest rate on any future loans and on your existing credit card accounts. That's because even one missed payment can lower your credit score by as much as 100 points. That plunge means that lenders view you as a risky customer. If you're shopping around for a mortgage, you could end up paying as much as a full percentage point more. That's an increase that could ultimately cost you tens of thousands of dollars in interest. Set up automatic payments to make sure you're never late on your major bills. The sooner you can show lenders you're back on track, the better.

Pay $10 more each month. Most American households keep their credit balances at around $2,000, but about 10 to 15 percent carry balances that are $9,000 or higher. If you paid the minimum $224 required on that $9,000 balance each month, it would take you 31 years and over $13,000 in interest to pay it off. Increasing your payment by just $10 a month, to $234, until you've paid off the balance would save you $8,900. And you'd get rid of the debt in five years. (To check your own balances, try the calculator at bankrate.com.)

Put your savings to work. Many people who are deep in debt usually have some savings stashed in a bank account. They argue that they don't want to use their hard-earned savings to pay off debt. But do the math: It would make sense to keep the money in savings only if the bank is paying you an interest rate higher than the one your credit cards charge. Paying off a card with an interest rate of 13 percent is the equivalent of earning 13 percent interest on your money after taxes. There are no savings or investment options with that kind of guarantee. Experts caution that you still want to keep emergency cash on hand. A good rule is to take 5 percent of your paycheck to pay off debt and put an additional 5 percent into savings.

Pay more on your mortgage. You may have heard that because the interest is tax deductible, a mortgage is a good debt. But even if you're getting a tax break, you're still paying interest—and the longer you've had the mortgage, the smaller the tax break (because you pay less interest each year). As with all debt, paying it off sooner is better. So once you've paid off your credit cards and other high-rate debt, go ahead and add an extra payment each year (or spread it out over 12 months). If you do that over the life of a 30-year fixed loan with a rate of 6 percent, you'll shave roughly 20 percent off the total interest you pay. On a $150,000 mortgage, that means saving about $26,000.

Reduce your credit card interest rate. It may be time to get nervy with the credit card companies. If you pay your bill on time and your credit card company still raises your rates or lowers your limits, call the company's toll-free number (ask for the retention department) and explain that you're thinking of taking your business elsewhere. You may reap a rate reduction. No matter what you've heard about the current credit crunch, banks are still motivated to keep good customers. And check your accounts often. These days, banks are increasing rates even on good customers.

Get your credit report for free. You're entitled to one free report from each of the three credit bureaus (Experian, TransUnion, and Equifax) every year. Beware, though. Many sites advertising "free credit reports" are actually fronts for companies trying to sell you services—credit monitoring, debt consolidation, credit repair-most of which you don't need. The reports are free, but you'll be automatically signed up and billed for these products. Get your reports from annualcreditreport.com, which is sponsored by the three bureaus and the Federal Trade Commission. You can purchase extras on this site, too, but just stick with the free reports. If you want to see your credit scores (a numerical representation of how good a credit risk you are), you'll have to pay $48 at myfico.com.

Insurance
Shop around for car insurance. An online search and a few phone calls can turn up vastly different rates in the same area. You'll also want to ask about lesser-known breaks. For example, even if your kids are grown and out of the house, they might be able to get a substantial discount if they insure their cars through the company you use. One place to start is carinsurance.com. Once you've found the best rate, ask your insurance agent if he or she can match it.

Sign up for an FSA. Many employers offer flexible spending accounts as a way to set aside part of your salary for health care and child-care costs. You can pay for everything from Band-Aids to orthodontic work with pretax money, which translates into a discount of about 30 percent or more, depending on your tax bracket. But plan carefully. If you don't use all the money in your account within the year (at many companies, you have until March 15 of the following year to submit receipts), you lose whatever's left.

Keep grown kids on your health insurance policy. If you're going to end up lending (or giving) your children money for coverage, it's much cheaper to keep them on your policy as long as possible. In some states, you can do this until they are 26, whether they're still in school or not. (New Jersey will give you until they turn 30.) Some states require proof that they are single, without children, and that they live in the same state as you. For the rules where you live, go to statecoverage.net. Even if your state doesn't mandate extended coverage, your plan might, so call your human resources department for details.

Hold off on that long-term-care insurance. The soaring cost of extended nursing care has prompted many people in their 40s and 50s to sign up for long-term-care insurance in order to lock in a rate. It's true that the premiums go up as you get older, but not by the huge amount you might expect. According to data collected by America's Health Insurance Plans, a 65-year-old may end up paying just $126 more a year than someone who bought a policy at age 55. During those ten years, that person would spend close to $19,000 on coverage, even though he or she probably won't need it until age 83 or so (if at all). Depending on your health, the best time to buy is between 60 and 65. Until then, make retirement savings the priority, not long-term-care insurance.

Sign up for disability insurance. It helps protect your income in the event you become unable to work for a long period. Ideally, you should have enough to replace 60 to 70 percent of your salary. If your company plan doesn't provide this much coverage, consider buying more on your own. It can be costly, but it's worth it if you can afford it. Visit affordableinsuranceprotection.com or unum.com for quotes.

Think twice about life insurance. If you don't have dependents, you may not need it. If you do have kids or other dependents, you're probably better off with term life insurance until, say, your children are grown and can take care of themselves. It's generally less expensive than whole-life or other types of policies that build up value until you die or cash them in. Agents will tell you that whole-life insurance is a good investment because your money builds up tax-free, but these policies often have very high fees. You're better off putting that money toward your 401(k) and IRA instead. To comparison shop for term life policies, try term4sale.com.

Write your will. Although no one likes to think about dying, you need to. A will doesn't have to be a fancy contract that teams of lawyers slave over. It's just a written record of whom you want to entrust your kids and assets to when you die. You can write one using a simple boilerplate form and then sign it in the presence of witnesses (usually two people who aren't named in the will). The legal publishing company Nolo has a good template and instructions you can download for less than $25. (These templates are valid in all states except Louisiana. Of course, if your situation is complicated or you'd like a professional to look it over, consult an attorney. You can search for lawyers by state at actec.org.) You'll also want to make sure all the beneficiaries on your life insurance policies and bank and retirement accounts are up-to-date.
Retirement
Contribute to your company's 401(k). If your company matches funds, sign up. This will be the best investment you can possibly make. Typically, a company will kick in 50 cents for every dollar you save, up to 6 percent of your salary. That's the equivalent of earning an immediate 50 percent return-a rate you can't get anywhere. Yet incredibly, one in three American workers who are eligible isn't taking full advantage of it. With the matching funds, you can more than double the size of your 401(k) in 20 years, even if the stock market remains flat. For a family making $44,000, your contribution may cost you as little as $30 a week, money you won't even miss after a while.

Put retirement savings ahead of college savings. This sounds crazy to parents who need to come up with tuition money well before it's time to retire. But because of the tax breaks and the flexibility of retirement accounts, you're much better off contributing to a 401(k) or an IRA and taking out loans for college. Many people don't realize that the contributions you put in Roth IRAs can be withdrawn free of penalties at any time. That's very different from the college savings plans, called 529s, that smack you with a significant penalty if the money is not used for college. Another plus: Most schools don't count money in your retirement accounts when assessing how much financial aid they'll offer you. (For more detailed advice, check out Kalman Chany's book, Paying for College Without Going Broke.) Once you've saved the maximum amount that the government allows in your retirement accounts, then research 529 plans at savingforcollege.com.

Say no to company stock. Think of Lehman Brothers, Bear Stearns, and Enron. All were once on top, but when they went under, many employees were left without jobs and with retirement accounts that were overloaded with worthless company stock. You already have a huge stake in the company because you depend on it for your paycheck. Don't risk your retirement money as well. If your employer offers company stock as a 401(k) option, don't take it. If you get company stock as part of your matching-funds plan, sell it as soon as you're allowed to and switch that money into some other type of investment. Ask your HR representative for details.

Don't worry about Social Security. You've probably heard the dire predictions that anyone younger than 35 can't expect to collect Social Security. Even in bleak economic scenarios, though, Social Security will probably pay you 65 to 80 percent of your currently promised benefits. And with some fairly modest changes—like raising the retirement age or increasing payroll taxes for anyone earning more than $250,000 annually-the system can be shored up for decades to come. Make sure you're saving enough so you don't have to count on the program for your entire retirement income.

Stay away from individual stocks. In spite of what you may hear from your cousin the broker, buying the stock of a single company is generally not wise. It's essentially putting all your eggs in one basket-and paying broker fees that could eat up your earnings. In fact, you don't really need a broker. Instead of buying individual stocks, invest directly in mutual funds, which spread your dollars among a group of stocks. It's usually safer, cheaper, and simpler. But remember, you should do this only with money you can invest long term and can afford to lose in the short term.

Stick with index funds. You'll want to go with a special type of mutual fund called an index fund, which buys a little piece of each of the companies that make up established market benchmarks like the S&P 500. One of the best-kept secrets of investing is that in the long run, index funds perform at least as well as the funds that charge high fees and have a professional stock picker making the choices. And how are index funds doing these days? As of early December, they had actually lost less than the average stock fund run by the so-called experts. For a list of low-cost index funds, go to vanguard.com or fidelity.com.

Don't buy investment products from your bank. Banks sell a wide range of mutual funds, annuities, and individual stocks and bonds. These aren't FDIC-insured, and they tend to be more expensive than what you could get elsewhere because banks usually charge high sales commissions. Buy directly from mutual fund companies instead. Go with companies like Vanguard or Fidelity, which charge low fees and no commissions.

Build a portfolio. The rule of thumb is to put 50 percent of your long-term savings in stocks and 30 percent in bonds and keep 20 percent available in cash (that means in a savings or money market account where you can withdraw it at a moment's notice). In tough times especially, getting the right mix will depend on the risk you're willing to take and how soon you'll need your money. Stocks are generally more risky than bonds, but there are exceptions. For example, bonds issued by companies that are in questionable financial health-called junk bonds or, more euphemistically, high-yield bonds are a lot riskier than, say, stock in utility companies. Financialengines.com, which charges about $40 for a three-month subscription, is a great site for calculating the right mix.

Bonus Tip
Take care of your health. Eat right, exercise, and get plenty of sleep. Says Rutgers finance professor Barbara O'Neill, "The last thing you want in a financial crisis is huge medical bills."

Keep Your Money Safe
Supersafe
  • FDIC-insured bank savings, CD, and money market accounts
  • FDIC-insured credit unions
  • Series I bonds
  • Money market funds that invest in Treasury bills

Somewhat Riskier: Corporate and tax-exempt money market mutual funds

Riskiest: Bank investment products not FDIC-insured Individual stocks

***
Learn More
A clip-and-save guide to the sites in this feature.

Taxes

Checking and Savings Debt Insurance Retirement

at 10:37 PM 3 comments

Oregon, college 529 plans, quite shady these days?

We talked about this in one of our college programs and probably for now is a bad time? Here's the alternative but do consult your Financial Advisor or CPA. Instead of investing for your kids through many annual deposits to their College 529 Plans, you could do the Traditional & Roth IRA

Traditional & Roth IRA Certificates of Deposit

Rates Effective: January 1, 2009



 $1,000 - $49,999.99 $50,000 and higher
CDs Interest Rate Annual Percentage Yield** Interest Rate Annual Percentage Yield**
3 mos. 1.74% 1.75% 1.79% 1.80%
6 mos. 2.13% 2.15% 2.18% 2.20%
» 12 mos. 2.48% 2.50% 2.57% 2.60%
» 18 mos. 2.72% 2.75% 2.82% 2.85%
» 24 mos. 2.96% 3.00% 3.06% 3.10%
a25 mos. 3.69% 3.75% 3.69% 3.75%
36 mos. 3.16% 3.20% 3.26% 3.30%
48 mos. 3.40% 3.45% 3.50% 3.55%
¥60 mos. 3.59% 3.65% 3.69% 3.75%

$100,000 and higher
¥60 mos.

3.79% 3.85%
https://www.onpointcu.com/htm/checking_accrates.html#iratd

Or, you can do this annually until college plans look good:

Standard Rate Certificates of Deposit
Rates Effective: January 1, 2009

CDs Interest Rate Annual Percentage Yield** Interest Rate Annual Percentage Yield**
$1,000 - $49,999.99 $50,000 and higher
*3 mos.† 1.74% 1.75% 1.79% 1.80%
*6 mos.† 2.13% 2.15% 2.18% 2.20%
» *12 mos.† 2.48% 2.50% 2.57% 2.60%
» *18 mos.† 2.72% 2.75% 2.82% 2.85%
» *24 mos.† 2.96% 3.00% 3.06% 3.10%
36 mos. 3.16% 3.20% 3.26% 3.30%
48 mos. 3.40% 3.45% 3.50% 3.55%
¥60 mos. 3.59% 3.65% 3.69% 3.75%
$100,000 and higher
¥60 mos.

3.79% 3.85%


JUST suggestions and the bank up here is in Beaverton, Oregon. I'm sure your local bank teller will give you more info. Please ignore this if you're already in great shape. Thanks!

at 3:17 PM 0 comments

Wednesday

The Fujitsu Scholarship supports your development as a global leader

Qualifications

In addition to qualifying for the Fujitsu Scholarship, you must also qualify for admission to JAIMS' EWKLP. For complete EWKLP information, refer to the EWKLP Application Packet contained at the bottom of the Application Checklist section. Fujitsu Scholarship qualifications include the following:

  1. A bachelor's degree or a degree equivalent to a four-year standard baccalaureate degree in any discipline from a regionally or nationally accredited institution.
  2. Cumulative grade point average of 3.0 on a 4.0 scale.
  3. A minimum TOEFL score of 577/233/90 (paper/computer/Internet), TOEIC score of 750, or IELTS overall band test result of 6.5 or higher from tests taken between January 2007 and January 2009. Applicants who received a bachelor's degree or an advanced degree with at least two years of full-time coursework within the last five years from a regionally accredited institution in the United States, Australia, United Kingdom, or New Zealand; or from a university in Canada, Africa or Singapore, where English is the language of instruction are exempt from taking the TOEFL, TOEIC, or IELTS.
  4. A minimum of three years of relevant full-time work experience (five years preferred) at the time of application.
  5. To qualify for the Fujitsu Scholarship, applicants must be a resident of the state of Hawaii, U.S.A., or a citizen of one of the following countries: Australia, Cambodia, China, Hong Kong, India, Indonesia, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand, or Vietnam.
http://www.jaims.org/EWKLP/index.html

http://www.fujitsu.com/global/about/responsibility/community/scholarship/qualifications/
http://www.fujitsu.com/global/about/responsibility/community/scholarship/

at 5:26 PM 0 comments

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