If you’re strapped for cash, don’t make your situation worse! There are some major money mistakes to avoid, according to USA Today.
First, don’t dip into your retirement money! IRAs and 401(k) plans are protected from bankruptcy, but if you use the money in those retirement accounts and fall into bankruptcy, you could lose it all and have nothing for the future!
Another money mistake is letting your home fall into foreclosure – or simply walking away from a mortgage! If you’ve been out of work for a while and can’t afford your house, experts say sell it, move into a less-expensive place and start saving money. If you still have money coming in, ask your mortgage company if they’ll suspend or lower your payments – called “modifying” your mortgage. For help, go to MakingHomeAffordable.gov. If you just walk away from your house, you’ll trash your credit for years.
Money mistake #3 - using credit cards to buy more than you can afford! Almost 15% of families now owe about half their income to credit card debt! If you only make the minimum monthly payment, it could take a decade to pay off the balance. A credit card is a convenience – not something to live off of. So keep the card with the lowest interest rate and stop using the rest.
What’s another money mistake? Co-signing a loan! You might think you’re helping out a friend, but imagine if you were stuck repaying the entire amount of that loan? It could happen, especially if you co-sign for a boyfriend or girlfriend and the relationship falls apart!
Also, getting a payday loan can be a mistake. It’s a cash loan you agree to pay back with your next paycheck, but the interest rate is sky high! If you’re late paying it off, you’ll owe twice as much as the loan!
Lastly, here’s a money mistake a lot of older people make: taking out a reverse mortgage on their house! Retirees often need more than their government checks to get by, but there are a lot of fees attached to a reverse mortgage. Instead, get a home equity loan, or sell your home and move into something cheaper
SPANKING Parents and psychologists have debated it for decades. Even though research has said for years that it’s a bad idea, 90% of parents still do it. You may change your mind after you hear about a new study we found on MSNBC.com. The new study, done by Tulane University’s School of Public Health and Medicine, says that kids who are spanked often are twice as likely to develop aggressive behaviors – like fighting, destroying things, or being mean – as those who aren’t.
First, let’s clarify one point about spanking: Psychologists almost universally agree that it’s wrong to spank a child before the age of two. At that age, kids aren’t old enough to understand the difference between right and wrong, and they may not recognize a connection between their behavior and a parent’s reaction. All they process is that an adult is causing them pain. It’s only after the age of two when psychologists disagree on the spanking debate. Some say it can be an effective form of discipline after all other tactics have failed - like sending a child to bed with no TV, or giving a time out. However, there are many other experts who say spanking is wrong at any age, because it’s viewed as a form of physical abuse.
The Tulane researchers looked at more than 2,500 kids. They found that those three-year-olds who’d been spanked repeatedly were twice as likely to be defiant, have temper tantrums, get frustrated easily and have physical outbursts by the time they were five years old. Why is this? Psychiatrist Dr. Mark Goulston says spanking makes kids feel frightened, trapped, and powerless, and these three ingredients will make a kid to want to retaliate, if not toward the person who spanked them, then toward someone else. The experts say spanking makes children do what they're told in the short term, but doesn't work in the long term. So what should parents do? Try time-outs and other non-physical punishments. If they don’t work, wait until you’re calm before talking to your child about the problem. Kids need guidance, discipline and consequences, not spanking.
LEASING A CAR
You want to get the best deal possible when leasing a car, and what you don’t know can end up costing you. For example, did you know that the best time to lease a car is at the beginning of the model year? According to the experts at Kelley Blue Book, that’s when you’ll get the best deal because a lot of manufacturers hike their prices up four times a year. However, when the car is launched, the price is usually lowest. Here are more facts on car leasing, courtesy of Smart Money magazine.
First, never say, “I can afford this much per month.” When you tell the salesman how much of a monthly payment you want, he’ll say, "up to?" The "up to" question is a subtle way to bump up the price without you knowing it. For example, if you say, "I want my monthly payment to be $250" the salesman will ask, "Up to?" If you aren't paying attention, you'll probably say, "Oh, up to about $300." You just cost yourself an extra $50 a month!
In fact, Smart Money says you shouldn’t let the salesperson at the dealership know you’re leasing. As soon as the salesperson knows that, the prices freeze up. They’ll have a standard for which they’ll want to lease the car. Instead of negotiating a monthly lease price, negotiate the cost of the car as if you were buying it. The lower the overall price of the car, the lower your lease payments will be. So get a price on the car first, and then talk about leasing once you’ve established the price.
Another thing you need to know when leasing a car is that you can’t go anywhere you want. There’s a restriction in standard lease agreements that says you can’t take the car outside the state you leased it in for more than 30 days without the lessor’s written consent. If you do it anyway, you’ll be in default, which means you’ll have to pay the amount you owe on the lease – plus – the price of the car at auction. Also find out how many miles you can drive your car BEFORE you sign the lease. If you go over the agreed upon mileage, you’ll have to pay extra for each additional mile. 25 cents per mile may seem like nothing, but if you go over the agreed upon mileage by say 2,000 miles, you’ve just cost yourself an extra $500.
AUTISM
Autism affects about one out of every 110 kids in North America, and it can be everything from mild social troubles to a severe inability to communicate. Since it’s so widespread, The American Academy of Pediatrics is now recommending that all kids get screened for it starting at 18 months. There’s a new test out that can help doctors determine if a toddler is at risk even earlier. We read about this on the ABC News website.
It’s called the Rapid ABC test, and it uses five simple activities to test a 15-month old’s risk for autism. Your pediatrician can administer the test in five minutes during a routine checkup. Your toddler will be tested to see how well they respond to things like their name being called, being tickled, looking at a book, or playing with a ball. A software program computes a score, and if the doctor suspects autism, the kid gets more comprehensive tests.
It made the difference for Katy Crowther’s son, Ben. We read about her in the ABC article. She started worrying before Ben’s first birthday because he wasn’t imitating things, pointing or clapping or playing games like peek-a-boo. Even though her pediatrician told her it was too early to test for autism, she insisted, and her concern paid off. Ben is still behind other kids his age, but he’s been able to catch up tremendously. The early diagnosis made all the difference.
The Rapid ABC test was developed by Emory University and Georgia Tech – and before it was developed the test for autism took up to four hours – so most parents wouldn’t get their kid tested unless they were really concerned. This test is so accurate, and so fast, researchers now want to make it a routine part of a toddler’s check up. Some of the typical signs of autism include what we mentioned – your child doesn’t react to his name, or he doesn’t mimic you. Other more severe signs can be obsessive interests, getting upset over minor changes, obsessively repeating words, avoiding eye contact, and not pointing to objects. If you suspect your child may have autism, ask your doctor to administer a Rapid ABC test as soon as possible.
WHAT TO EAT
Here is an Eat This, Not That challenge for every meal of the day, because what you put in your mouth can make or break your day. Eat the wrong foods and you could spend the day feeling panicked, drained or floundering. This comes from Rodale Publishing:
Of course, we’ll start with breakfast. If you want to be energized, eat this: Bacon and eggs. Thanks to the protein punch of this meal, you’ll feel full and energized throughout the morning. A University of Illinois study found that people who eat more protein during their meals, find it easier to stick to a diet. Another benefit? The eggs will relax your blood vessels – which will keep your blood pressure from spiking. The hotter the eggs, the better it works, and frying sends an egg’s temperature soaring. What NOT to eat for breakfast? Pancakes or a bagel. They’re loaded with simple carbohydrates, which will give you instant energy – only to leave you crashing and reaching for a candy bar in an hour.
It’s lunchtime and you have a meeting in hour that you’re really stressed about –what to eat? Grilled salmon. It contains an amino acid that your brain uses to make neurochemicals that keep you alert, and the Omega-3s in salmon can calm your nerves. What not to order at lunch? Tea with milk! It may seem harmless, but when you drink tea with milk, it cancels out the calming effect tea has on your stress hormones.
Now, it’s dinner – and you have a hot date. You want to be witty, charming and sharp. Eat this: a steak. It’s loaded with vitamin B12 which keeps you mentally sharp and wards off brain shrinkage. The zinc in red meat boosts brain levels of attraction hormones. What not to eat on a hot date? White chocolate! White chocolate has no cocoa in it – so it lacks the chemicals that make you feel energetic and alert
DIETING
If you're interested in a few creative ways to slim down a little, then try these ideas- from other countries! These ideas are from the book, "30 Secrets of the World's Healthiest Cuisines":
In Scandinavian countries, people rarely snack- they stick to 3 meals a day. This protects them from high fat, empty calorie foods.
In Asia, meat is used as a spice. Vegetables are the main ingredient in most dishes, with a small amount of meat added for flavor. And don't be afraid of carbs; veggie-rich meals served with steamed or brown rice will slim you down.
People in Mediterranean countries, the focus is on whole foods. Olive oil is good; eating olives is better. Grapes are a favorite dessert in Greece and France. By eating whole foods, we tend to get more nutrition, because we get more fiber.
From Africa, try adding more nuts to your diet. We tend to think of nuts as a diet "no-no", but in many countries, they make up the bulk of a meal. African countries that use nuts as a staple have the lowest cancer rates in the world.
