Can You Mix Money with Art?

Ask most artists, from painters to poets, and they will tell you they don’t think about money. I think this is a big mistake. Your art does not need to be motivated by money, but to protect your creations and to get them made in the first place, it may be helpful to be a not-so-starving artist. -Mary Caraccioli
Check out the story of these two artists and tell me if you agree.

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Can You Get Out of a Car Lease Early?

Lisa’s question answered!

Let me know if you have a question by hitting the contact button on the navigation bar.
Have a great day! -Mary

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Relationship Skills Worth Learning

We all have heard “it is not what you know it is who you know.” While the saying is a gross over-simplification, there is some truth to it. First, you do have to know your stuff because being skilled matters. But then you also need to know how to build a community or a constituency to keep your good work flowing.
Here are some ideas to help you do just that.

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How the Coupon Queens Do It

Would you work this hard to save this much? Let me know!

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Don’t Call them Gen Debt

Don’t call Gen Y-er’s generation debt. They may be the victims/beneficiaries of their parents dealing with debt, but many have learned from the older generation’s mistakes.

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ASK MARY: Banking Online, Is it Safe?

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When You Become a Parent to Your Parent

It is easy to see why Gene loves Nicolina so much. But managing what is best for her and for him is no simple task.

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You Will Love Herb

From getting a raise at work to paying less for your utilities – you can negotiate anything! We have tips to help you get what you want. Take a look at Herb’s tips and tell me if I am wrong about how fab he is!
Enjoy! -Mary

For more negotiating tips or to learn about books from Herb Cohen, visit Herbcohenonline.com.

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Ideas to Help You Raise $mart Kids

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Tools to Become a Social Media Maven

Build a better online reputation by using social media tools to your advantage. Connor Raus has become the go-to guy for social media strategy. Here are his plain English tips to help you get going.

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Teens and Money: How to Jump-start the Conversation

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New Grads Here is How to Expand that Paycheck

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Mark Haines 1946-2011

 There are a lot of big personalities working in the television industry. Throughout my career I have had the opportunity to work with some of the biggest personalities in the news business, particularly financial news. Those big personalities don’t always live up to their larger than life image. A clear exception was Mark Haines. Mark became famous on Wall St. and beyond for putting morning financial news on the map with Squawk Box and Squawk on the Street. I had the chance to work with Mark during the early days of money TV on CNBC’s World Business, Squawk’s predecessor. He was a big tough talking guy who came in at 4am carrying a travel coffee mug and wearing gray sweat pants. I was young, but looked liked a juvenile, with braces and wild curly hair. He didn’t relish the fact that he would have to train another newbie.

“OK what are we doing?” he would ask each morning. Occasionally, my reply would be followed by a, “Huh?” He was gruff but never demeaning. Then, about a month into my new job, he walked into the office saying Mary Fay, Mary Fay (his usual greeting for me). Only this morning he stopped a few feet shy of his desk and looked at me. I froze. Mark was a man of routine. He rarely deviated from it. He was supposed to take 4 more steps, put his mug down and then jump on the computer, and bang out his story about money supply. Instead he stopped and was looking at me. “My wife Cindy says good things about you. So you are okay in my book,” he said. That was it. No time for hugs or an explanation of why his wife felt that way. He took four more steps, put his coffee down and started striking the keyboard. But it was at that instant, I knew then and forever more, Mark would have my back. That support helped me grow into the job and strengthened my confidence. I am not sure I ever had the chance to say Thank you. So Mark, thank you for being kind to the newbie producer and showing me the ropes of a tough business. Thank you for your uncompromising attitude toward both guests and bosses. Thank you for showing me that the second half of your on air TV career can actually be way better than the first half. Thanking for showing me that it is not only OK to be yourself, it is imperative. The ayem will never be the same.

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A Better Break-up? Yep!

You know someone (if not you) who spends hours thinking about and planning how to grow a relationship. But who spends time planning a break-up? Not enough of us. Here are some tips on how to have a better break up.

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Straight Talking Financial All Stars and 3 Fed Presidents: 1 Great Conference

One of the nation’s best resources for financial debate and discussion, the non-profit Global Interdependence Center, will be hosting a star studded conference on housing. No neither Lady Gaga nor the Duchess of Cambridge will be there, but some of the most sough after economic and market strategists and policy makers will be on hand and accessible to you. Two current and one former Fed President join some of the most quoted market experts in the country and YOU can be there too. Get the story behind the soundbites. Ask your own questions of some of the sharpest minds in the business at the:

29th Annual Monetary and Trade Conference

Tuesday, May 24, 2011

“Is Housing Ready for a Rebound? QE2, Housing and Foreclosures:  Are they Related?”

7:30AM – 8:00AM – Registration & Continental Breakfast

8:00AM – 8:15AM – Welcoming Remarks:

- George Tsetsekos, Dean, LeBow College of Business, Drexel University

- David Kotok, CIO, Cumberland Advisors & Vice Chair, GIC

8:15AM – 9:20AM – Session I: Panel Discussion and Audience Q & A

“Fannie/Freddie: Where Have We Been and Where are We Going?”

Josh Rosner of Graham Fisher & Co. Co-Author of Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon

Chris Whalen of Institutional Risk Analytics. Author of Inflated: How Money and Debt Built the American Dream

Michael Lewitt, Author of The Death of Capital: How Creative Policy Can Restore Stability

Moderator: Gretchen Morgensen, Assistant Business and Financial Editor of The New York Times . Co-author of Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon

The speakers above will be available for a book signing during the break.

9:20AM – 9:50AM – Session II: “Outlook for Housing Recovery” Followed by Audience Q&A

David Berson of PMI

Moderator: Barry Nobel, NASDAQ OMX PHLX

9:50AM – 10:25AM –

Special Remarks, Charles Plosser, President, Federal Reserve Bank of Philadelphia

Keynote Speaker: Tom Hoenig, President, Federal Reserve Bank of Kansas City

Moderator: Paul McCulley, Chairman, GIC Society of Fellows

10:25AM – 10:45AM – Coffee Break and Book Signing

10:45AM – 11:25AM – Session III: “What Does QE Mean for U.S. Housing?” Followed by Audience Q & A

Maria Pia Olivero, Dept of Economics, LeBow College of Business

Mark Vitner, Managing Director & Senior Economist, Wells Fargo Securities, LLC

Moderator:John Mauldin, Millennium Wave Investments, 4-time NYT Best Selling Author

11:25AM – 12:10PM – Session IV: “GSEs: What To Do and How to Do It.” Followed by Audience Q & A

William Poole, Former President of the Federal Reserve Bank of St. Louis

Moderator: Bill Dunkelberg, GIC Chair

12:10PM – 12:20PM – Summary and closing by Bill Dunkelberg, Chair, GIC

When: May 24, 2011 7:30AM – 12:30PM

Where: Behrakis Grand Hall, Drexel University in Philadelphia, PA

Registration: $50 – Members  ·  $100 – Non-Members and includes a one-year membership

Registration Available Online:

http://www.interdependence.org/Event-05-24-11.php

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A Coupon Collector: Does it work?

Just signed up for the internet coupon aggregator called Yipit. It allegedly sorts deals from more than 350 Web sites in 20 cities.

Here is a link: http://yipit.com/

I will let you know what I think of it as I use it.

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Ask Mary: Hiring a Financial Advisor

I am frequently asked by men and women for tips on finding a good financial planner or advisor. Finding the right one can make life so much easier. So here are some ideas that could help you narrow the field.

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Six Figure Women

There is good news out there for women in the workplace. Yes I know things aren’t perfect- but here is a quick snapshot to show you we are making progress.

Lets keep pushing for pay equity! BTW If you want to read Molly’s new book (which I loved) find it here:

http://www.the-leaders-edge.com/breaking-boys-club

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Six Money Tips for Young Professionals:


Save one-third of your income.
Don’t scrimp on career-related investments.
Cultivate your most ambitious dreams.
Pay off all but your cheapest student loans early.
Don’t wait to invest until you have “extra money.”
Give back — on your own terms.
See my interview with Kim Palmer for more money tips.

http://maryandmoney.com/videos/are-your-kids-marter-than-you/

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Saving More at the Supermarket

If the high price of gasoline is taking its toll on your monthly budget, then you no doubt are looking for other ways to save. It may seem old school- but coupon clipping is back and can be more lucrative than ever.

BTW: If you aren’t into coupons and love eating fresh- stay in the outer aisles of the market. I find the stuff that is cheapest in produce is the stuff that is freshest and at the peak of its season.

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Are Your Kids $marter Than You?

Why isn’t personal finance a required course in every high school? Too many of us learn our lessons the hard way. My pal Kim talks about the stuff that should be talked about in school and at home.

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My Money Tips are in Tracey’s New Book

Tracey Jackson has written about the second most awkward phase in a woman’s life with spit out your coffee humor and practical sisterly advice. I love it! I am also proud to have helped her with her chapter on money. I don’t want any of us running out of that before our time is up.

Check out Tracey’s site: http://traceyjacksononline.com/

Here is one of my tips for women of cougar age who have taken care of their claws but not their cash!

Quit waiting for the lottery, a miracle or God forbid, Prince Charming. They aren’t coming.  For all our gender’s accomplishments during the Boomer Era, it puzzles me that smart, educated, accomplished women are still waiting on someone else to make their financial dreams come true. Wake up smell the double espresso and get to work. There is no magic to money. It takes the same elbow grease that goes into planning a great vacation, fabulous party or stunning renovation.  If you’ve done one of those three, then you can lead the money aspect of your own life. Once you take ownership of your financial future and give up on the lottery dream, you can actually build wealth or at least stop the bleeding of your cash for trivial things that don’t give you what you really want.

How do you make that happen?

1) Do a little work on yourself. Understand your emotional attachments to money. What does money represent to you, status, safety, greed?  Who helped shape that belief, parents, an ex, your favorite aunt? Who’s money lifestyle do you most identify with now- who do you think is doing it right? Once you know your emotional ties with money and your financial role models you can more easily spot your triggers. This self-awareness has to be factored in when you build a money plan for your life. Knowing yourself means you can create a realistic plan that honors where you are now and where you want to be in 10 or 15 years. If you do this, you are now ready to create a plan of what you really want in the years ahead. Make sure you write it down.

more to come…

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Erasing Debt with a Happy Ending

My pals at Kiplingers always have great stories that inspire you to build wealth.  I loved this story that showed that it is possible to pay down even large sums of debt. Fist step- commit. – Mary

How to Erase $70,000 in Debt
In early 2006, Jaime Tardy, 29, of Turner, Maine, resolved to wipe out $70,000 in debt as quickly as possible so that she could quit her job and start a family. By April 2007, she and her husband were debt-free — and had $23,000 in the bank.

How did you rack up $70,000 in debt? I had two student loans totaling $26,180 after graduating from the Rochester Institute of Technology, and my husband, Matthew, and I took out a $24,560 home-equity loan to cover a portion of the down payment on our house. The loan had a variable interest rate, so it was as bad as credit card debt. We also had a $19,300 car loan.

Why did you decide to pay it off? Paying off the debt was the first step toward reaching my goal of working from home part-time and starting a family. Having a reason to pay it off that was bigger than myself made it a lot easier to make the sacrifices. Once we were ready to take the leap, we wanted to do it as fast as possible because getting out of debt isn’t fun.

How did you do it? Read the rest of this entry »

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Refi a Car? Yep. But is it a Good Deal for You?

Keep the questions coming! Here is a good one about auto financing. If you have a question just click on the contact button on the nav bar. -Mary

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Housing Market Future: Grim or Great?

Find our for yourself – by attending a terrific event sponsored by the Global Interdependence Center.

29th Annual Monetary and Trade Conference
 
Welcoming Remarks:
- George Tsetsekos, Dean, LeBow College of Business, Drexel University
- David Kotok, CIO, Cumberland Advisors & Vice Chair, GIC

Session I: Panel Discussion: “Fannie/Freddie: Where Have We Been and Where are We Going?”
Josh Rosner of Graham Fisher & Co. Co-Author of Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon
- Chris Whalen of Institutional Risk Analytics. Author of Inflated: How Money and Debt Built the American Dream
- Michael Lewitt, Author of The Death of Capital: How Creative Policy Can Restore Stability
Moderator: TBA.

All three speakers will be available for a book signing during the break.

Session II: “Outlook for Housing Recovery” by David Berson of PMI
Followed by Audience Q&A

Keynote Speaker: Tom Hoenig, President of the Federal Reserve Bank of Kansas City

Coffee Break and Book Signing

Session III: “What Does QE Mean for U.S. Housing?”
- Maria Pia Olivero, Dept of Economics, LeBow College of Business
- Mark Vitner, Managing Director & Senior Economist, Wells Fargo Securities, LLC
Moderator: Charles Silverman, EVP & Group Head, Global Financial Institutions Wells Fargo

Session IV: “GSEs: What To Do and How to Do It.” By William Poole, Former President of the Federal Reserve Bank of St. Louis

Summary and closing comments by Bill Dunkelberg, Chair, Global Interdependence Center

Tuesday, May 24, 2011
8:30AM – 12:00PM
Behrakis Grand Hall, Drexel University in Philadelphia, PA
Registration: $50 – Members
$100 – Non-Members and includes a one-year membership

Contact: Jillian Fornito at GIC at jfornito@interdependence.org or 215-898-9453

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Let Your Stuff Take Care of YOU!

Whether we’ve bought it, inherited it, or found it- all of us have put effort into collecting the “stuff” in our home. Some of that stuff could be of real value. So before you throw that old side table or grandma’s art collection in the basement take a listen to my pal Dr. Lori. From where you hang your art, to how you stack your dishes– she dishes on how to take care of your possessions, so maybe they can take care of you.

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Get the Boss (or anyone) to Commit

If you’ve ever wanted anyone to “commit already” then you will love Shawn’s advice. She teaches us how to get bosses, boyfriends, clients and colleagues to sign on the dotted line. It all starts with a conversation.

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Where do you find LiveWell TV?

I get this question a lot. LiveWell TV is a new network that was created by ABC-TV, linking together the second channel each owned and operated station received when broadcasters converted to digital. There is a lot of original lifestyle programming on the network, including Mary Talks Money.

But where do you find it on TV?  Thanks to the simplicity of the web, I can answer that question for everyone, no matter what timezone, with a link.  http://livewellnetwork.com/index

Scroll down to “Programming”  put in your location and you are ready to watch.

The link also brings you to LiveWell’s comprehensive website that archives all of our shows.  Just go to “shows” then “Mary Talks Money” and viola- every episode is at your fingertips!

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Too Big to Fail

 You cannot judge a book by its length. Andrew Ross Sorkin’s Too Big To Fail about the events before and after the collapase of Lehman Brothers, which triggered the worst financial crisis since the Great Depression, is a thick book, 544 pages! But don’t let that fool you- there are no annual reports or pages of fine print or lengthy debates about structured assets. Instead, this is a book about fascinating characters. Who needs the Real Housewives of  New York when you have the Real Hubris of Wall Street. Recently I had a chance to talk to Andrew, who edits the NYT’s Dealbook, about where we are now and lessons learned.

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See Brian Sack from the NY Fed for Free

Wednesday, February 9, 2011

BE OUR GUEST!

As GIC Welcomes


Brian Sack, Executive Vice President, Markets Group

Federal Reserve Bank of New York

Implementing the Federal Reserve’s Asset Purchase Program

Join GIC and the Federal Reserve Bank of Philadelphia for this free program as we welcome Brian Sack for remarks followed by a cocktail reception. Mr. Sack is the executive vice president of the Markets Group at the Federal Reserve Bank of New York as well as the Manager of the System Open Market Account for the Federal Open Market Committee (FOMC). The Markets Group oversees domestic open market and foreign exchange trading operations and the provisions of account services to foreign central banks.

Wednesday, February 9, 2011

5:15pm · Registration

5:45pm · Remarks

Implementing the Federal Reserve’s Asset Purchase Program

6:30pm-7:30pm · Reception

This event is generously hosted by the Federal Reserve Bank of Philadelphia.

Please visit their website to register, free of charge.

Registration closes February 4th.

Register on FRB Website today!

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ASK MARY: Credit Card Fraud

You have credit cards, but what if your card info gets into the wrong hands? How well are you protected?
Here is what you need to know.

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Job Search: Word Games Hiring Managers Play

Are the words on your resume making you stand out? Get insider information about the word game hiring managers are playing and see how mastering this lingo could have you earning more.

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Zac Posen and Chanel for $5? Shopping for a Cause is a Great Deal!

Find out how to score designer clothes for as little as $5 and get an amazing bonus too!

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Eat Cheap and Eat Well!

We love a discount but when is cheap bad for you and when is it a true bargain? I take you shopping at a grocery outlet and show you how to spot trouble and how to spot a deal that is worthy of your cart!

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Home Time: Advice to Make Your Home Project a Success

Two HGTV guru’s and yours truly, visit Adam and Karen of FYI Philly to share our tips for making your next project a success. From making your home healthier, to the art of a good plan, to paying for it all, we are at your service. Enjoy! -Mary

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Help My Boss is a Crackberry!

How do you leave work at the office when you’re constantly connected?

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What are Energy Efficient Mortgages?

I have been getting a lot of questions on the loans I discussed in a recent show.  The loans are part of the FHA’s Energy Effecient Mortgage Program. This article offered by hud.gov helps to answer a lot of the questions. Good luck with your project! -Mary

FHA’s Energy Efficient Mortgage program (EEM) helps homebuyers or homeowners save money on utility bills by enabling them to finance the cost of adding energy efficiency features to new or existing housing as part of their FHA insured home purchase or refinancing mortgage.

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Overspent during the holidays? Now what?

Okay you did what you said you wouldn’t do.  You are already beating yourself up, so a smack from me won’t help.  Instead, I want to help you right the ship and keep that spending binge from haunting you for years to come. Here are my 5 tips for getting your act together to pay off the holiday and have a great debt-free new year.

1)      Stop all unnecessary spending now! Hide the cards and vow to pay cash or use a debit card for all your spending until the debts are gone. Don’t take a vacation or splurge on any new stuff for yourself (or anyone else) until you do that.  This serves two purposes: it reduces and eliminates your credit card debt and it is a great deterrent.  That pain will stop you from indulging next time

2)      Get a re-payment plan together. This means taking a hard look at how much money you bring in each month and how much you really spend.  Figure out how much is leftover and apply it all to paying off that debt. If you don’t earn enough, cut more spending or make more money. 

3)      Attack the debt. Get your taxes done early if a refund is coming your way.  Can you consolidate your debt to one lower interest card? If not, there are two approaches you can take.  Either go after the card with the lowest balance first,  for a psychological boost, or go after the card with the highest interest first, for a financial boost.

4)      Let everyone in the family and maybe even your friends know about your plan. I know we hate to talk about our money mess-ups- but it could help eliminate any peer pressure spending and who knows you may get a great idea on how to raise money from a friend. Make it fun and make it a group challenge.

5)      Don’t do it again! Next year, next vacation, next temptation- use cash or a debit card and live within your means. Doing anything else is so-  pre-precession.  Worrying about debt creates stress that shortens your life and makes your time here less enjoyable. In the words of the great Cher, snap out of it!

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PAYING FOR THE RENOVATION

THE NEW YEAR IS A TIME FOR A FRESH START. BECAUSE I AM TRAPPED INDOORS, THIS IS ALSO THE TIME OF YEAR I WANT TO TAKE A WRECKING BALL TO SOME OF MY MORE “TIRED” LOOKING ROOMS AND GIVE THEM A MAKEOVER. IF YOU CATCH YOURSELF FEELING THE SAME WAY- STOP! I HAVE A FEW TIPS YOU SHOULD HEAR BEFORE YOU SWING THAT SLEDGEHAMMER. Read the rest of this entry »

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Mary’s Work

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Could You Work with Your Mom and Dad?

When I did this interview with the McMahon family of WWE fame, Linda was not yet a candidate and son Shane was still part of the family business. Meet Vince, Linda, Stephanie and Shane McMahon and hear their take on what it is like to work in the family business.

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New Year’s Resolution: Get Your Finances Organized!

Days away from the start of the New Year and chances are you are hoping to have a better money year in 2011. I believe it all starts with organization. My pal Farnoosh Torabi has some ideas that could help you get off to a great start. Happy New Year!!

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A Story from the Entrepreneurial Frontline

Want to become your own boss? See how two women are taking on the challenge. And learn how you can take charge of your own career in a matter of months.     Read the rest of this entry »

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Ask Mary: Debit or Credit?

After you swipe your card, you have no doubt been asked, “Debit or credit?” Not sure which is best for you- check this out.

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ASK MARY: Getting out of a Lease

Your Questions Answered! Today we look at auto leases. Is there any way out of a lease once you sign one? Find out! If you have a question- hit the Contact us tab at the top of the page. -Mary

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Ask Mary: Savings Bond for Baby? Tipping at Restaurants- How much?

Time to answer your questions. Today I tackle two. Should friends and loved ones get your new baby a savings bond or is there a better financial gift? And I examine the art of tipping at restaurants.
If you have a question- hit the “contact” tab at the top of the page. Thanks! Mary

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Teach Kids Good Money Habits, Even if You Need Help Yourself!

Your kids learn their lessons about money from you. Even if you are financially unfit, you can still be a great money mentor. Here is how. BTW Sorry for the misleading headline on the video. This is not a story on tennis as you will see when you click!

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Stay Warm and Safe

With oil rising to $90 a barrel this week, homeowners in the Northeast and Midwest who heat their homes with oil may be tempted to use supplementary heating sources to offset their high heating bills. These alternative heating sources, if not used properly, can contribute to an increased risk of fire, according to the Insurance Information Institute (I.I.I.).

Space heaters, wood stoves and other supplemental heating sources are the leading cause of home fires during the winter months, trailing only cooking equipment. The National Fire Protection Association reports that fixed and portable home heating devices account for two of every three home heating related fires and two of every three related deaths. In 2008 (the most recent statistics available), heating equipment was involved in an estimated 66,100 reported home structure fires, 480 civilian deaths, 1,660 civilian injuries, and caused direct property damage of $1.1 billion. Read the rest of this entry »

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Should I Go Solar?

If your electric bills are draining your bank account, learn how you could turn sunny-days into pay-days.

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Social Media Strategies to Build Business

Facebook, My Space, Twitter, there are ways to turn a profit using social media. Find out how

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