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Tuesday, May 19, 2009
Dayton 10th most affordable place to buy home
It isn’t surprising, given the bombardment of dire economic information out there, that according to CNN Money today, May 19, a study shows that houses are the most affordable in 18 years.
And, helping to lead that cheap charge in our great nation? Little old Dayton, Ohio.
Dayton ranks 10th among big metro areas where residents are most able to afford to buy a home. The study measured affordability index and median home price to get its results.
To be deemed affordable, a family making the median national income of $64,000 must be able to buy the property and devote no more than 28 percent of their income toward housing costs.
Ohio is really the heart of the affordable list. Dayton is among five other Buckeye State cities — Youngstown is No. 2, Akron is No. 3, Cleveland is No. 7 and Toledo is No. 9 — on that list.
No. 1 is Indianapolis, which has led the list for 15 straight quarters.
Which cities are least affordable? New York, San Francisco and L.A.
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Cut college costs with new tax credit
Paying for college is often a challenge for parents, but it is even tougher for many in this recession as those costs continue to rise.
However, as Consumer Reports wrote today, May 19, a new tax credit can help curb college expenses.
According to the Internal Revenue Service, under the American Recovery and Reinvestment Act, more parents and students will qualify over the next two years for the American Opportunity Credit to pay for college expenses.
CR noted that the new tax cut, which was included in the stimulus package, beefs up an old college tax break, the Hope Scholarship Credit, according to Eric Smith, spokesperson for the Internal Revenue Service.
As the IRS noted:
The new credit modifies the existing Hope Credit for tax years 2009 and 2010, making the Hope Credit available to a broader range of taxpayers, including many with higher incomes and those who owe no tax.
The IRS said the tax credit adds required course materials to the list of qualifying expenses and allows the credit to be claimed for four post-secondary education years instead of two.
Many of those eligible will qualify for the maximum annual credit of $2,500 per student.
“The full credit is available to individuals whose modified adjusted gross income is $80,000 or less, or $160,000 or less for married couples filing a joint return. The credit is phased out for taxpayers with incomes above these levels. These income limits are higher than under the existing Hope and Lifetime Learning Credits.”
CR added that the stimulus package also has increased the Pell Grant by $500 to $5,350 for 2009 and $5,550 for 2010.
In case you are filing taxes late this year, the American Opportunity Credit is not available on the 2008 returns taxpayers are filing during 2009.
Permalink | Comments (0) | Post your comment | Categories: Savings
Save hundreds with frequent-shopper cards
Do frequent shopper cards really save you money? ShopSmart;) magazine says they do.
The money-saving source reports that using free frequent-shopper cards offered by booksellers, movie theaters and other major retailers is a smart way to save up to hundreds of dollars a year or more.
Here are 10 frequent-shopper programs from ShopSmart; as compiled by Daniel Vasquez of the Sun-Sentinel.
AMC Theatres MovieWatcher: Earn two points for every movie ticket you buy; redeem 10 points for a small popcorn or 30 points for a free movie ticket.
How To Sign Up: Go to Moviewatcher.com.
BORDERS Borders Rewards: For every $150 you spend, you get $5 toward another purchase within a month; you also get special discounts and offers.
How To Sign Up: Sign up in the store or at Borders.com.
CVS Pharmacy ExtraCare: 2 percent rebate on every in-store and online purchase; $1 “Extra Buck” for every two prescriptions filled; discounts on items featured in weekly circulars.
How To Sign Up: Go to CVS.com or ask for an application in any CVS store.
Office Depot Worklife Rewards: 10 percent back on ink, toner, paper, design, print, and shipping services; 1 percent back on all other items; rebate is redeemable for future purchases.
How To Sign Up: Ask at Office Depot or go to Myworkliferewards.com.
PETCO PALS (Petco Animal Lovers Save): One free bag of food for every 10 bags of natural or premium food you buy within a 12-month period; one free grooming, bath, or wash for every eight you buy within a 12-month period.
How To Sign Up: Sign up at your local store.
PetSmart PetPerks: Coupons; monthly exclusive online offers; discounts on some in-store items.
How To Sign Up: Go to Petsmart.com.
Regal Cinemas Regal Crown Club: Get one point for every dollar spent on tickets and extra credit for concessions; redeem 50 points for a small popcorn or 150 points for one free admission.
How To Sign Up: Ask at the theater or go to Regmovies.com.
Staples Staples Rewards: 10 percent back on ink, toner, paper, and copy and print services; rebate is redeemable for future purchases.
How To Sign Up: Ask at Staples or go to Staples.com.
Toys “R” Us Rewards “R” Us: $5 gift certificate for every $150 spent during select promotional periods, plus discounts on diapers and other items.
How To Sign Up: Go to Toysrus.com.
Walgreens EasySaver: Rebates on featured items; you must save receipts and submit them by mail or online.
How To Sign Up: Go to Walgreens.com.
Permalink | Comments (0) | Post your comment | Categories: Helpful information, Savings
