Archive for December, 2008

College Student Success: Improve Your Reading Speed and Comprehension

By: Green Panda | Date posted: December 31, 2008 (4:57 am)

One of my goals for 2009 is to increase in my college related topics. Many readers are college students and I want to help with tips that I used that worked. If you have any ideas for future topics, please contact me.

study-material

Photo Credit: The Master Shake Signal

Learn to read faster

Readng faster is one goal when you’re a college students, especially if you attend full-time. The amount of labs work, papers, and projects given to you eat up a huge amount of your time. It’s important to read faster and comprehend the material.

You can improve your reading speed by widening your visual lens. Don’t just look at one word at a time, try to group words together. Start off with three words at a time and continue until you only need two to three glances to read per line. Instead of lowering your comprehension, this technique will help you understand the main points much easier.

Mind Tools offers a description of your goals for each process.

  • Increasing the number of words in each block:
    This needs a conscious effort. Try to expand the number of words that you read at a time. With practice, you’ll find you read faster. You may also find that you can increase the number of words in each block by holding the text a little further from your eyes. The more words you can read in each block, the faster you will read!
  • Reducing fixation time:
    The minimum length of time needed to read each block is probably only a quarter of a second. By pushing yourself to reduce the time you take, you will get better at picking up information quickly. Again, this is a matter of practice and confidence.
  • Reducing skip-back:
    To reduce the number of times that your eyes skip back to a previous sentence, run a pointer along the line as you read. This could be a finger, or a pen or pencil. Your eyes will follow the tip of your pointer, smoothing the flow of your reading. The speed at which you read using this method will largely depend on the speed at which you move the pointer.

Take a reading speed test to see how fast you are currently reading. After you’ve practiced speed reading for a couple of weeks, test yourself again.

chess1

Photo Credit:  helmet13

How to improve your memory is when reading

  • Quickly scan the chapter to get an idea of the main points. Don’t start reading the paragraphs, you’re just trying to an overview of the topic.
  • Review the subtopics after you completed of them. Don’t wait until the end of the chapter to review. What was the main point of the last section? Highlight all the main points.
  • Write in the margin a quick note of how this section is related to what you are ready know. Studies point now that learning by association tends to improve retention. In fact it has been noted that reviewing material immediately after studying will increase your memory.
  • Review again right after you finished the whole chapter. If you want to test yourself use the chapter review questions provided in the text and see how much you remember. Writing down your answers on a separate sheet of paper for later.
  • Review again in a day or two to retain information. Without looking at your last answers try going through the chapter review again.

Most of your classes would benefit if you increased your reading speed and comprehension. If you do, you may also want to consider using the time you saved to tutor a classmate for some extra cash and to keep your class material fresh in your mind. If you have any suggestions or ideas, leave a comment or join me today on Flexo’s forums to discuss.

Our Financial Goals For 2009

By: Green Panda | Date posted: December 29, 2008 (4:00 am)

soccer

Review of 2008 Personal Finance Goals

I set some goals last year for 2008. Since February I’ve been updating you with our progress. I decided I should review how I did in 2008 financially and then give my goals for the upcoming year. Basically some goals were met; some weren’t.

Income: The goal is $60,000 for the year as a family.

Goal was not reached (?). We’ll know for sure once we get our W-2s, but I’m going to err on the conservative side. I know we did better than last year, but with 5 companies between us and a big move this year it’s a bit unclear.<

Spending: I’m going to continue cutting back on eating out to twice a week, including weekends.

Goal was not reached. I definitely cut down on eating out, but not twice a week, including weekends. I eat out about three times a week with weekends included. Not bad, but technically I didn’t reach the goal.

Investing: We’ll contribute to our retirement funds.

Goal was reached. After resigning from my job, it definitely decreased the amount I put aside, but money has been set aside for savings. The amount in my retirement savings has gone down as many others’ have in this year’s market. My husband has automatically invested money into 401(k) as soon as he qualified with his company. He also rolled over his money from his old job’s 401(k) into a Vanguard IRA.

Saving: We’ll have 3 months expenses in an emergency fund.

Goal was met. We have several accounts that can cover our expenses if something comes up. Since we’re living on one steady income in this economy, this was a priority.

Debt: I would like to pay off my car loan by December 31, 2008.

Goal not reached. We have money in our savings to cover this expense, but we don’t feel comfortable lowering our cushion quite yet.  We’re putting it off until next year to be on the safe side.

Your Goals

How have you’ve been doing with your goals? Did you make them? How did you do it? Did the economy throw your goals for a loop?

2009 Personal Finance Goals

Based on my 2008 goals, talking as a couple, and the economy, we came up withe some 2009 personal financial goals. I ordered it by time frame.

  • Debt: We would like to pay off my car loan by March 31, 2009.
  • Spending: We’re going to limit eating out for dinner to twice a month.
  • Frugal: My husband would like to bring his lunch to work at least three times a week.
  • Savings: We want to have 6 months in the joint account in addition to building our house fund.

Let me know what your goals are.

This post was included in the Carnival of Money Stories# 92 hosted by Gather Little By Little.

Photo Credit:  wonker

2008 Best Personal Finance Posts

By: Green Panda | Date posted: December 27, 2008 (4:32 am)

mountains

 

It’s been an eventful year with the global economy. Personal finance is becoming a more important topic to discuss and learn. I really believe 2009 will be a big year for many personal finance. The economy won’t be fixed overnight and people will have to be more conscious of their spending if they want to ride this through. 

Do you need tips for 2009? Mara has already got a list compiled to help you jump start your finances. check out her post New Cash For The New Year 2009: Tips From Top Money Bloggers.

There was a tremendous amount of great information in 2008 for personal finance. I searched over 100 personal finance posts to find a great collection of articles that are helpful for this reflective round up. Thank you to all the bloggers who put such an effort writing and thanks to the wonderful readers who have been following us. 

There are over 60 personal finance articles are included, so pick and choose which interest you the most. Any a particular post? Leave a comment on the blog to let them know. 

Editors Choice

I asked some bloggers to share their favorite posts from this past yea. A few were kind enough to give their thoughts. 

Finances and Budgeting

 

 Economy & Taxes

 

Frugality & Do It Yourself Projects

 

Debt Reduction

 

Investing & Retirement

 

Saving and Wealth Building

 

I hope your weekend goes well. Take care!

Photo Credit: coda

 

2008’s Best Of Green Panda Treehouse

By: Green Panda | Date posted: December 24, 2008 (4:00 am)

you

I want to thank those of you who have been with me in 2008. I’m enjoying my time writing and I love getting in contact with you through email and Twitter. I look forward to getting to know you better in 2009. 

If you haven’t already, please subscribe to Green Panda Treehouse and get automatically updated. It’s easy and free.  

I wanted to put up some of the most popular posts on this site this past year.  I was surpised to seewhat made the tops of the list as some of them were off topic (sausage dip..).  Let me know if you have any topic ideas, I want to make this site as useful as I can. 

January

February

March

 

April

 

May 

June

July

August

September

October

November

December

Helpful Tax Information for College Students

By: Green Panda | Date posted: December 22, 2008 (4:14 am)

After looking at the IRS’ site, I included some common questions on taxes that people have.  I added my own commentary to some points that I found interesting. It’s always interesting to find out how the US tax system works.

2009 Standard Deductions Rise and Changes in Earned Income Credit

The new standard deduction is $11,400 for married couples filing a joint return (up $500), $5,700 for singles and married individuals filing separately (up $250) and $8,350 for heads of household (up $350).

Tax-bracket thresholds increase for each filing status. For a married couple filing a joint return, for example, the taxable-income threshold separating the 15-percent bracket from the 25-percent bracket is $67,900, up from $65,100 in 2008.

The maximum amount of income you can earn and still get the credit has increased for 2008. You may be able to take the credit if:

  • You have more than one qualifying child and you earn less than $38,646 ($41,646 if married filing jointly),
  • You have one qualifying child and you earn less than $33,995 ($36,995 if married filing jointly), or
  • You do not have a qualifying child and you earn less than $12,880 ($15,880 if married filing jointly).

Investment income amount increased. The maximum amount of investment income you can have and still get the credit has increased to $2,950 for 2008.

Source: USA IRS

Use the Hope Credit or Lifetime Learning Credit to Save on Taxes

If you’re in college, take a look at the Hope Credit and the Lifetime Learning Credit. If you are in your first two years of college, you may qualify for the Hope Credit. Otherwise, look at the Lifetime Learning Credit for all other years (unlimited number of years). Keep your receipts for tuition and educational expenses. You cannot claim both credits in one year.

I couldn’t find the new adjustments for your gross income. In 2007, if your modified adjusted gross income was between $47,000 and $57,000 ($94,000 and $114,000 if you file a joint return), you should be able to qualify. We won’t be able to take this credit since I’m not a student anymore but I hope you guys can put this to good use.

Some Easy Ways to Lower Your Taxes

By looking at the IRS and other sites, I found some tips that can help reduce your tax burden.

  • Contribute the most you can to your retirement. You can contribute to your 401(k) and it isn’t taxed as income when you put deposit. Even with the bad market, you can still get some benefits.
  • Donate to worthy charities that fit with your goals. If you donate money, keep all receipts. If you donate items you can deduct their fair market value. If you drove for a charity there’s a small deduction you take.
  • If you moved for a job, see if you qualify for a deduction. It has to be more than 50 miles away and you stay at the job at least 39 weeks.
  • Deduct Student Loan Interest. Keep the paperwork to get a tax deduction.

Check out some other deductions you may be overlooking.

How much does a student have to make before he or she has to file an income tax return?

If you are an unmarried dependent, you must file a tax return if your earned and/or unearned income exceeds certain limits.

I included the IRS chart to see if you are required to file a tax return by looking at your income earned.

Table 1.2008 Filing Requirements Chart for Most Taxpayers

IF your filing status is… AND at the end of 2008 you were…* THEN file a return if your gross income was at least…**
single under 65 $8,950
65 or older $10,300
head of household under 65 $11,500
65 or older $12,850
married, filing jointly*** under 65 (both spouses) $17,900
65 or older (one spouse) $18,950
65 or older (both spouses) $20,000
married, filing separately any age $3,500

Source: IRS Publication 501

If you’re looking for a specific question, want to get some tax help, and want a reliable source, try the IRS’s website. There is a huge amount of information to search through. I also included some information from other personal finance sites that were helpful.

How do you plan for your taxes? What tips do you have to keep your money?
Photo Credit: NickStarr

Weekly Round-Up: Celebrity Edition

By: Green Panda | Date posted: December 20, 2008 (1:22 pm)

Photo Credit: Green Panda

We made it back yesterday even with some 30 minutes to spare befoe we turned in our car rental a day early.  We had a wonderful time down in Orlando and now we’re going to rest before Monday comes along. :) It’s a laundry day for us and I got one in the washer right now.

 

The timing couldn’t have been more perfect we hardly had any lines at both Universal parks and Disney lines were bearable. My favorite rides we did? I would have to say Spiderman (Islands of Adventure), Simpsons (Universal), and Tower of Terror(Hollywood Studio – Disney). 

I included two pictures from our trip. We also hung out wit Spiderman, Cyclops, and the Simpsons to name a few celebrities. 

 

Top Personal Finance Posts This Week

 

 

 

 Have a great weekend. I hope to hear from you guys!

Tactics of Time Share Tours

By: Green Panda | Date posted: December 18, 2008 (11:44 am)

Yesterday, I gave a bit of a rundown of our time share tour experience. Today I wanted to do a lessons learned post. I’m included somethings I remembered about the sales presentation and some consumer information I found from th Federal Trade Commission. As always, please share your stories and tips. The site is only as good as its readers.

How Time Share Tours Work to Sell

  • No business can expect a sale every time. For many marketing companies 2% conversion is a goal. Some sales people at our presentation were being push asking why did they bother to come. Two women we came with had to deal with a salesperson giving that argument. I thought of two reasons: 1. They were curious.   2. They came for the gift. To get angry at people for coming for the gift is a bit off. The resort and its partners are promoting the gifts. They have signs up and they have a script about how you’ll get the gift for ‘just doing the tour’. They even ask to see what the hotel told you about the program. They”re not in the dark. If they don’t like getting people who do the tour for the gift, then stop offering it. People offer food samples, because they hope (and have seen) that some will buy a me from them once in awhile. If not enough people buy, then they lose money and 9 out of 10 times stop giving samples.
  • Don’t lie to get the discount/gift. Everything with our person was upfront and we told each other what we expected. We’d get 2 discounted unlimited Universal passes if we did a 90 minute tour (which lasted longer). Both of us and the sales guy agreed to that. There was to be no requirement to buy.
  • Don’t let them use the kids card. Several times they asked if we had kids or wanted to have kids. Almost everyone used the option of willing the time share to the child when you die.
  • High pressure sales are typical with timeshare presentations; expect it. They sold the time share idea as buying real estate, but then needed a same day decision. Red flag went up with that option. Making a huge purchase and you have to do it now. My first reaction is pass. I just don’t want to go through buyer’s remorse. By the way, if you do sign a contract for a time share, federal law gives you a ‘cooling off’ period. Check The Federal Trade Commission’s site for more information.
  • Get a contact name and number. I noticed that our salesperson told us they don’t give out cards because they are ineffective. The salesperson next to us said he moved offices and didn’t have one. If no one has contact information to give you, then pass. There’s no accountability for the sales people and that usually means you’ll get burned.

Federal Trade Commission on Time Shares

I was looking into the industry and came across something interesting. The Federal Trade Commission keeps track of consumers complaints on fraud. Here are the top 20:

Rank
Category
Complaints
%
1 Identity Theft 258,427 32
2 Shop-at-Home/Catalog Sales 62,811 8
3 Internet Services 42,266 5
4 Foreign Money Offers 32,868 4
5 Prizes/Sweepstakes and Lotteries 32,162 4
6 Computer Equipment and Software 27,036 3
7 Internet Auctions 24,376 3
8 Health Care Claims 16,097 2
9 Travel, Vacations, and Timeshares 14,903 2
10 Advance-Fee Loans and Credit Protection/Repair 14,342 2

Source: Federal Trade Commission

How to Handle Time Share Getaway Tours

Timeshares are included in the list and over 14,000 people had issues in just 2007. If you decide to purchase a timeshare, please consider the following tips.

1. Don’t make impulsive purchases based on aggressive sales people. It rarely works for your benefit. ignore the special that are ‘only available for today’.

2. Shop around to see the quality of the resort and the package. Many times you can find out what the Better Business Bureau has to say about them.

3. See how much comparable time shares are going for. It’s amazing what a glut of timeshares are up for sale.

4. Get EVERYTHING in writing. You’re making a big purchase and you want to make sure nothing trips you up.

Your Take

Please if you have more information or suggestions, leave a comment.

Photo Credit: spisharam- away

This blog uses the cross-linker plugin developed by Web-Developers.Net