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• What kids don't know about personal finance

  Posted Apr 14 2008, 01:10 PM by Karen Datko
  Filed under: Investing, Credit, Taxes, Karen Datko
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  A new survey shows that only 48.3% of high school seniors could correctly answer basic questions about personal finance. That's the worst score in the six times the survey has been conducted.

  For instance, 48% realize that a person who pays only the minimum due on a credit card each month will end up paying more in finance charges than those who pay more than the minimum. In fact, 18% thought the person who pays off the entire balance each month will pay the most finance charges.

  Actually, Steve at brip blap, who posted about the survey results (to read the post, click here) made public by the Federal Reserve last week, thinks there is reason for optimism in these answers. He goes on a little political rant to make his point.   Read More...

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• The IRS did not send you that e-mail about an audit

  Posted Feb 01 2008, 06:27 PM by Karen Datko
  Filed under: Banking, Credit, Taxes, Karen Datko
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  The scammers are out in full force this tax season, targeting taxpayers, accountants and anyone else who can answer a phone or open an e-mail. Kay Bell at Don't Mess With Taxes gives readers a rundown on some of the latest tactics being used to steal your identity. 

  One is an e-mail purporting to be from the IRS, asking you to click on a link to a refund claim form, where you're instructed to provide personal financial information. A similar e-mail tells you that you're going to be audited. Unlike many phishing attempts, this one  actually addresses you by your name, Kay says.   Read More...

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