Unemployment rises in 43 states in December

Contrary to what most experts had predicted, the unemployment rates in 43 states went up in December. Although the national average is still approximately 10%, a handfull of states are struggling with unemployment rates approaching 15%, not a good sign for economists who had previously believed that the economy is on the mend.

In any economic recovery employment is among the last indicator to reverse course and begin to rise, but the numbers for December are troubling for a White House and Congress that find themselves hoping against hope that a large percentage of the workers who are currently looking for jobs will find them before the November elections.

Senate could soon boot Fed Chairman Ben Bernanke

With the economy still in the dumps, Federal Reserve Chairman Ben Bernanke could find himself out of a job when his term expires at the end of this month. A number of Senators, several of whom are up for re-election themselves in November, have expressed serious reservations about keeping Bernanke in the post.

The shocking win by Republican Scott Brown in Tuesday's special election to fill the Senate seat left vacant by the passing of Ted Kennedy has virtually all incumbent Democrats running scared. The handful who will be defending their seats this fall are likely to vote against him simply to serve notice to their constituents that they definitely "got the message" delivered by Tuesday's vote.

The vote on Bernanke's re-appointment could take place before the Fed meets to vote on whether or not to change interest rate policy on Wednesday, but that is appearing doubtful at the moment. But regardless of when the vote actually takes place, the Chairman is facing a steep uphill battle.

TurboTax Federal Free Edition

Do you plan to file your 2009 federal income taxes on form 1040EZ? If so, you can prepare and electronically file your federal return for free on TurboTax.com. Of course if your tax situation is more complicated you'll need to use a different form which means you won't be eligible to use the free version of TurboTax. You'll also have to pay to use their service to file your state return (or you can do it yourself or hire a tax preparer).

TurboTax is an industry leader in the field of tax preparation, and they have an excellent reputation for helping taxpayers get the largest refund possible. And by filing electronically, you'll have your refund in your hands a lot faster than you would by filing a paper return. If you qualify for using TurboTax Federal Free Edition, why not give it a try?

Planning ahead for applying for a mortgage

In these tough economic times qualifying for a mortgage is tougher than ever. Gone are the days of easy credit, and if you hope to qualify for a mortgage you'll need to be able to prove to the lender's satisfaction that you can repay it. Here are a few tips that can help you do just that:

1 - Have a stable work record. Mortgage lenders are looking for borrowers who have a stable record of working on a job, preferably with the same company for at least the last two years.

2 - Attain an income that will allow you to qualify for a loan large enough to purchase the type of house you plan to buy in the future. For example, if you hope to purchase a 5 bedroom home in a gated community, you're going to have to earn a lot more than minimum wage.

3 - Make sure your credit report is 100% accurate and up to date. Try to get any innacurate or less than positive entries removed BEFORE applying for a mortgage. By law, you are entitled to one free credit report per year. Visit this page to find out how to get it.

4 - Create an active credit history. Lenders look for borrowers who have a proven track record of handling loans responsibly. A great way to start is by getting a credit card, charging a few items on it each month for a year, then paying the balance off in full every time you receive a statement. A small consumer loan paid off early is a big plus as well.

5 - Have all of your documentation ready when you go to the lender to apply for the mortgage. At a bare minimum you'll need your driver's license and tax returns for the last two years. Some lenders will require more documetation as well. Contact the lender you plan to apply to several months ahead of time and ask them to provide a list of the documents you'll need.

How to get your annual free credit report

Federal law mandates that every American consumer is entitled to one free credit report per year, a benefit that each and every one of us should take advantage of. Checking your credit report at least once a year for inaccurate or fraudulent entries is a great way to find and fix any negative items that might be listed in your credit report. The process is fast, easy and completely free.

To get your annual free credit report, simply visit http://www.annualcreditreport.com/ and fill out the form. Rest assured that this is indeed a legitimate website that was created for the sole reason of giving you access to your free report as mandated by law.

Airlines hike fees for checked bags

The airlines are stuggling to remain profitable in these tough economic times, and the latest measure they have taken is raising the fees on checked bags. In times past, you could check one bag for free with most airlines, but not anymore.

For some travelers it simply is not possible to "travel light", but if you can get by with just a small carry-on bag you now can save a pretty good chunk of change. If you simply must take along more items than you can fit into a carry-on, try to limit yourself to checking just one bag if at all possible.

Understanding Car Insurance

If you take a good look at your car insurance policy you'll see a number of items such as liability, comprehensive, collision, personal injury, etc. Understanding exactly what each of these items means is imperative for finding the best auto insurance policy for your needs at the best price.

CarInsurance.com has one of the best tutorials I've ever seen on the various types of auto insurance coverage available. Click here to check it out.

Should you add gold your investment portfolio?

If you watch any of the cable news channels, you have undoubtedly seen a plethora of commercials by companies hawking gold. Should you add gold to your own investment portfolio? For the average investor, the answer is probably yes. Here are a few things to consider:

1 - Gold has been a rock-solid form of currency for thousands of years. Currencies come and go, sometimes even becoming completely worthless overnight (i.e. Confederate money after the Civil War). Gold on the other hand has never been worth zero at any time in recorded history.

2 - Gold is typically worth the most when other assets are worth the least. That's why the current price of gold is approaching the stratosphere even as the rest of the American economy is in the tank.

3 - Gold is a hedge against inflation. With the U.S. Federal Government borrowing money at a record-setting clip it's virtually guaranteed that inflation is going to go through the roof at some point, and probably in the not so distant future. Gold typically increases in value as inflation heats up.

4 - Gold is a tangible asset that can be used as currency in virtually any economy in the world.

There you have it, four reasons for adding gold to an investment portfolio. If you decide that you want to add it to yours, below you will find a list of some of the most well-known companies that sell (and buy) it. Just be sure to do your homework by checking out the facts about buying and selling gold before you invest. All of the companies listed below have excellent tutorials on their websites.

- Monex
- Goldline
- Blanchard
- USA Gold
- Rosland Capital

Using coupons to lower your food bill

In these tough economic times many consumers are turning to a time-tested method of saving money at the grocery store: clipping coupons. Coupons might not be glamorous, but used effectively they can easily cut your typical monthly food bill by as much as 60% without scarificing either the quality or quantity of the food items you normally purchase.

Here are a few tips for raking in huge savings with coupons:

1 - Write out your grocery list and actively seek out a coupon for every item on it. In days of old that would mean pulling out a newspaper and leafing through stacks of magazines in search of your coupons. While that method still works quite well, there is a much faster and easier way to accomplish that task today. Simply visit websites like Coupons.com, CoolSavings.com and CouponMom.com and print out the coupons you need!

2 - Whenever possible use your coupons to purchase items that also happen to be on sale that week. For example, if a box of cereal that normally sells for $2.99 is on sale for $1.99, a 50 cent coupon would allow you to purchase that item at half price. If you're a good organizer you can stockpile your coupons and use them ONLY when the items are on sale. What a powerful way to make a huge dent in your grocery bill week after week!

3 - Don't limit your use of coupons just to grocery items. You can also use them to save money on items that you use around the house such as soap, glass cleaner, floor wax, and laundry detergent.

4 - Be sure not to let coupons "blind" you to competing brands that are less expensive. Many times you can choose a different brand that is just as good, but still cheaper than your regular brand even after applying the savings from the coupon.

5 - Pay attention to expiration dates. While stockpiling your coupons for later use when the items go on sale is a great idea, they become worthless upon expiration.

Saving money with your PayPal debit card

If you use a PayPal debit card for many of your purchases, one simple little trick will allow you to save 1% on everything you buy: Simply ask the cashier to run the transaction as a Credit instead of a Debit. Once a month, PayPal will credit back to your account an amount equal to 1% of all purchases made during the previous month where you used the debit cards to complete a credit transaction.

While 1% might not sound like a big savings, it really does add up over a month's time, especially of you use your PayPal card a lot or purchase big ticket items with it. But even if you only use the card occasinally, the savings can still treat you to a nice dinner out every once in a while. Not a bad deal at all since the practice is requesting "credit insted of debit" takes about 2 seconds!