Student loans. Without them, college educations would not be possible for large segments of today’s population. Whether attending state colleges and universities or private institutions of higher learning, the fact remains that student loans ease the financial burden of college for many students who would not otherwise be able to pay to attend college at today’s rates. Once graduation takes place and the time to begin repaying those student loans kicks in, many families, unfortunately, face hardships that make paying these loans back challenging. Fortunately, there are strategies you can employ that allow you to refinance student loans for more favorable terms and rates. Finding a Lender Finding a lender to refinance student loans is often the most straightforward part of the process. The key is to find the lender that offers the best terms and services to meet your needs. One of the benefits of refinancing student loans, when compared to refinancing a mortgage loan, is that you do not have to worry about things like closing costs, points, etc. You owe the amount of money you refinance and the interest. Be aware that, unlike the federal student loan program that guarantees student loans to all, regardless of credit, refinance lenders often require that borrowers have good credit, with many requiring scores in the high 600s to qualify. Even among those that do qualify, terms and interest rates can vary substantially according to how high your credit is. Getting the Best Loan Terms One of the things you might want to consider to get the best possible loan terms for refinancing your student loans is to apply for several loan programs and compare their offers. It is not just about the best interest rate, though that is certainly an important consideration. Also explore your option for repayment terms such as: Other things to consider are the types of loans available for student loan refinancing. For instance, fixed-rate student loans provide security that allows you to know the interest rate you will pay for the life of the loan while adjustable-rate loans often offer lower initial interest rates but may rise sharply when interest rates increase. Refinancing vs. Consolidation Consolidating student loans is often something offered through the federal student loan program. That allows students to combine all their student loan payments into a single payment each month. It is much easier to manage a single monthly payment on one set day each month than multiple payments spread throughout the month. Additionally, students may take this opportunity to extend the term of the loan. That can lower monthly payments substantially. The downside of this option, though, is that you will pay more in interest over the life of your loan. Refinancing is different in that students seek lenders outside of the federal student loan program to cover the entirety of their student loan debt. They then refinance the total amount of a lower interest rate. Before you refinance your student loans you need to understand that doing so transitions the loan from the federally protected student loan to a private loan from a private lender. This eliminates many of the protections, such as: These are all available through the Federal Student Loan program but not through the private lenders that refinance them. For most students, it is best to consider options within the federal student loan program before seeking to refinance with a private lender. However, there are some situations in which private lending is absolutely the way to go, especially for those who have excellent credit scores. When it comes to refinancing student loans, there are plenty of lenders to choose from for those who have outstanding credit and are interested in reducing the amount of interest they pay. However, it is wise to compare options to seek the best possible terms for your student loans and to decide if consolidation is a better option for maintaining benefits offered through the federal student loan program option.

Refinancing Strategies for Student Loans

View Resource Refinancing Strategies for Student Loans
Many things impact a car’s resale or trade-in value. Learning to maximize your car’s trade-in value gives you more buying power for the purchase of your next vehicle and allows you to enjoy a higher return on investment. These tips can help you get top dollar for your trade-in. Preparing for the Trade-In Before you make your trade-in decision, there are a few key details to consider as you prepare. The better handle you have on these types of events, the greater your end rewards tend to be. They include: Little things like these can maximize the value you receive from your trade-in. Increasing Your Car’s Appeal There are some things you can do quickly, easily, and inexpensively that will wow those in charge of pricing out your trade. Consider these tasks for adding a little “curb appeal” to your car before trading it in. The more of these you take care of, the more likely you are to receive top dollar for your trade. When things are left undone, the dealership will lower its trade-in offer to cover their costs. Negotiating the Best Deal Approach the dealership from a position of power when discussing a trade-in. Let the dealer know you do not need to trade the car in but are interested in exploring your options. That gives you far more negotiating power than if you need that money to supplement or solidify your down payment in a newer vehicle. Also, do not hesitate to let the dealer know you know the value of your vehicle and all the added features that make your specific car worth more. Finally, do not negotiate the trade-in value until after you have agreed on a price for the newer vehicle. Often, sales staff will attempt to recover losses on a trade with the offer they make on your new car. If you agree on the price first, that cannot happen. Takeaway Taking the time and paying attention to detail before you begin to negotiate for the trade-in value of your existing vehicle can have a significant impact on the final offer you receive from the dealership. The steps above, combined with your powerful negotiating skills, can help you get a better offer for your trade-in vehicle.

Maximize Your Car’s Trade-In Value

View Resource Maximize Your Car’s Trade-In Value
Leasing a car is a great way to get lower monthly payments on brand new or late model cars. It is one way for people who are not mechanically inclined, or who love the new-car smell, to make sure they can have a new vehicle every few years. There is a price to pay for that privilege, however, and sometimes people leasing cars need to find creative and intelligent ways to extricate themselves from these leases. People want to get out of car leases for a variety of reasons: Regardless of the reason, getting out of a car lease can be difficult. For those who go about getting out of a car lease in the wrong way, the process can be complicated, disastrous to credit scores, and expensive. Avoiding Default The last thing you want to do to get out of a car lease is to stop making payments and go into default. That will leave a lasting black mark on your credit record, making it difficult for you to get financing for future vehicles, homes, and any other credit you may require for several years. Financial hardships do happen, though, which makes it essential to understand and explore your options for getting out of a lease without going into default. Merely stopping payments and waiting for the dealership to repossess the vehicle is the worst thing you can do. Not only does it add repossession fees to the amount you owe, but it doesn’t absolve you of your debt to the dealership. According to your contract, you could still be on the hook for the remaining lease payments, early termination fees, and more. Options for Getting Out of Car Leases There are generally three options available to consumers looking to get out of a car lease. They include:
  1. Early termination of the lease

  2. Transferring the lease

  3. Buying out the lease
Each option offers its own set of pros and cons according to individual circumstances. Be aware, however, that the way depreciation works, automobiles depreciate at much faster rates earlier in the lease. That means that early termination may carry the risk of owning a substantial sum even when terminating the contract early. Early termination of the lease can get you in hot water, depending on the language in the lease contract. If you are seeking to get out of the contract to “trade up” or into a different vehicle, it may be easier to do so, provided you pay the required early exit fees. In some cases, it is possible to trade down and only pay exit fees, saving you more money over time. One thing to consider is that there are “lease swapping” sites where people will list leases available to those interested in taking them over. Some people like the lower monthly payments that leasing delivers over buying, and these sites allow you to find willing individuals that might be interested in helping you find relief from your current contract. Transferring the lease allows you to find someone interested in taking over the contract. Of course, the other person in question must meet the rigorous credit requirements many dealerships require for leasing vehicles. However, it gives you another option to consider. The problem, or consideration, with this method, is that it is not always easy to find someone willing to take over a lease. It is much easier to find buyers for vehicles than people interested in taking over a lease. However, it does remain a viable option if you do have an interested party in mind. Buying out the lease is another consideration. This option would have you buy the vehicle outright. The benefit of this option is that you now own the car and can do anything you want with it. You can sell it, give it to a family member, or trade it in for another vehicle you wish to purchase. Additionally, you could drive it around without paying a monthly note. Looking for ways to get out from under a car lease that no longer benefits your situation? You do have options, including trading up, buyouts, early termination, and lease transfers. The one thing you don’t want to do is risk default by taking no action to relieve yourself from your lease burden.

Getting Out of a Car Lease

View Resource Getting Out of a Car Lease
It is now more important than ever to protect your identity. As more companies reveal data breaches on large scales, the need for consumers to protect themselves, their reputations, and their financial interests with identity protection services is growing daily. Fortunately, many services are available to help you protect your identity. But which one is right for you? The more you know about your options, the better informed you will be to make the right decision to protect your own identity. Types of Services You need more than services that monitor your credit score in today’s connected world, though that is certainly a good place to begin. A good credit monitoring service will let you know any time someone does any of the following: Identity monitoring goes beyond that by reporting when people use your personal information in ways that might not appear on your credit report, such as: Identity recovery services come in after the fact and help you regain control of your finances and restore your good name after the damage has occurred. They work with you to help you freeze your credit so that new accounts cannot be opened in your name, informing creditors and lenders about the theft, and address inquiries from debt collectors. Identity theft insurance goes even further by covering out-of-pocket expenses related to reclaiming your identity. Some people consider the coverage relatively minor, considering that it doesn’t return stolen money and financial losses resulting from the theft, nor does it, in most cases, provide protection for legal fees and lost wages that occur throughout the process. Assessing Your Needs The real key is in assessing your individual needs and those of your family. Unfortunately, there are many different types of identity theft. More than you might know or realize. And, there are no services available that protect people from all the types of identity theft that currently exist, such as: Comparing Services All services for identity theft monitoring and protection are not the same. Most people find identity theft insurance to be of little benefit, though some feel that every little bit of money you can recover at a time like this can be beneficial. You will have to decide for yourself which service offers the best assistance for your needs or if you are better off using multiple services. Use the information above to help you choose, but also remember that when your data is compromised, many companies provide free credit and personal information monitoring services. Takeaway The best way to protect your identity is to do the monitoring yourself in combination with all the methods listed above. Prevention, and proactively protecting your information is the best cure; however, when data breaches occur, it is always good to have other eyes on the problem with credit monitoring and identity monitoring services. If your information and identity are compromised, then you want the assistance offered in a reputable identity recovery service.

50 Services

View Resource 50 Services
Paying off loans ahead of schedule can have a significant impact on how much you ultimately pay for the loan. Additionally, it can help you eliminate the debt faster so that you can move on with other financial goals you might have. These tried-and-true strategies can help you get rid of your debt by accelerating the loan repayment process. Bi-Weekly Payments Rather than paying once or twice each month, bi-weekly payments have you paying toward your loan every other week. Over the course of the year, this has you making one additional payment per year without almost realizing it. While this method is not as effective as others for short-term loans, it can save you several months of payments when used on longer-term loans, not to mention hundreds (or thousands) of dollars in interest. Round Up Payments Rounding up payments work just as the name implies. Rather than making the exact payment that you owe each month, you round up to a higher amount. For instance, instead of paying $237.00 each month, make your payment for $300.00. That adds $63.00 each month that goes towards paying down the principle of the loan. That is a total of $756 (just over three additional payments) going toward the principal each year, quickly whittling away your debt! Lump-Sum Payments Find out the total amount owed on principle for the debt and make a lump sum payment to eliminate the entire remaining debt. That works for people who have recently received royalty payments, an insurance payoff, or even come into inheritances and are interested in eliminating debt. Some people who are interested in eliminating more substantial debts, or even several smaller debts, use extra payments to aid in this process. Some people receive bonuses from work, holiday gifts, Christmas club payments, and even their IRS tax returns and use that money wisely to help reduce debt, minimize interest, and live simpler, debt-free lives. They do this by making extra payments on higher-interest loans, credit cards, and other debts when they receive substantial sums of money so that they can ultimately pay off as much of their debt as possible via these lump-sum payments. Extra Payments Even if you are not able to make the bi-weekly payment suggested above, you can still reap the rewards by making one additional payment each year. By saving up a few dollars here and there throughout the year toward this payment goal, you can deliver valuable positive results for your total debt. One Last Thing Before you dive into any of these methods of early loan repayments, it is critical to determine if your lender has any early repayment penalties. While many modern lenders do not utilize this practice, it is still possible for some lenders, those eager to earn as much profit from interest payments as possible, to impose stiff penalties for early loan repayments. Be sure to check into whether the lender allows early repayment without a penalty fee. Once you are sure you can repay your debt early, any one of these steps can be a huge help toward your overall goal. The bigger the effort you make towards debt repayment, the more substantial your results will be, and the faster you will find the entire debt repaid.

Accelerating Repayment on a Loan

View Resource Accelerating Repayment on a Loan
Many people view banks and credit unions as financial institutions that can help keep their money safe. After all, that is what banks and credit unions do, right? Not exactly. These institutions exist to accept deposits and make loans, although, in the case of credit unions, they typically do so on a ‘not-for-profit’ basis. It is safer to store money in bank or credit union than, say under mattresses or in buried coffee cans. However, the idea that these organizations are designed to keep your money safe is a little misguided. That isn’t to say that they offer no protection for your money. Today’s banks and credit unions are safer than they have been at various points throughout history. This is largely a credit to two organizations: Since the founding of these organizations, no holder of a bank account or member of a credit union has lost a single penny of deposits that were federally insured. NCUA and FDIC Insurance Limits Here’s where things get interesting. These organizations do provide insurance for the money held in a qualifying bank or credit union accounts, up to certain limits. Both organizations offer protection and guarantees for up to $250,000 per depositor, per financial institution without account holders lifting a finger or paying a dime. The more “depositors” assigned to the account, the higher the protection becomes. Additionally, people who have accounts at multiple banks or credit unions will enjoy the same protection for each financial institution. Qualifying Accounts There are a variety of qualifying accounts that can receive the protection offered by FDIC and NCUA Insurance. They include: You should note that different insurance protections exist in cases of robbery and theft. The FDIC and NCUA do not insure in these types of losses. Maximizing Your Insurance Protection The key, of course, is to seek out ways to get more protection for your investment with as little effort as possible. These are a few things you can do to help you maximize your insurance protection: Banks and credit unions exist in a highly competitive market. Many are willing to go the extra mile to ensure you are confident with the coverage and protection you have. They are often willing to work with you to help you spread your money around in a fashion that limits your risk and exposure to keep your business. While FDIC and NCUA insurance coverage do not offer complete and total protection automatically to consumers, they do allow a fair amount of flexibility so that savvy consumers can get the protection that makes them feel better protected. These things will help you get the insurance protection your bank deposits require.

How Safe is Your Money?

View Resource How Safe is Your Money?
Shopping for the holidays isn’t just stressful. It can be quite expensive if you don’t have a strategy in place for managing your money and getting more out of it. The strategies below will help you keep your Christmas budget in check by helping you score fantastic holiday deals. Tips for Saving Money at Christmas Christmas, for some, is the most beautiful time of the year. For others, though, it is an easy opportunity to overspend. These tips and tactics can help you give Christmas gifts your friends and family are sure to love without breaking the bank this holiday season.
  1. Make a list. That will be your guide for the holiday season. Include the names of everyone you need to buy gifts for and how much you would like to spend on each person.

  2. Start shopping early. The earlier you begin shopping, the smaller the financial hit will be when the holiday season rolls around. Have a dedicated space to place all the Christmas gifts you purchase early and consider wrapping them ahead of time too for easy storage away from prying eyes.

  3. Save receipts and compare prices throughout the season. Some stores will match prices, past and present, during the holidays to guarantee you get the lowest possible price on the things you purchase. Comparison shopping is always wise, and the Internet makes it easier than ever.

  4. Make your gifts. There are plenty of amazing gifts you can make at home to give for the holidays. Everything from handmade soaps, candles, and crafts to infused liquors, baked goods, and clothing can hit the mark and make excellent gift options.

  5. Shop for discounted gift cards. Shop ahead of the holidays for discounted gift cards. Many websites offer discounted gift cards for sale. You can even earn gift cards from various retailers by taking surveys. Whether buying or earning, these gift cards can either be Christmas gifts or help you purchase Christmas gifts with little out-of-pocket.

  6. Shop on Black Friday and Cyber Monday. Both brick and mortar and online retailers often offer significant savings on these days to entice shoppers to make their holiday purchases early.

  7. Buy multiples when scoring deep discounts. When you find amazing deals that will work for multiple people on your Christmas list, buy multiples. No rule says two people can’t receive the same (or very similar) gifts. You can even buy multiples for the same person if there are different colors, patterns, or themes. Especially if the gift is something you know the recipient will use, like, and appreciate.

  8. Redeem rewards and rebates. Far too often, people get caught up in the hustle and bustle of holiday shopping, parties, and decorating that they forget to take advantage of the rebates and rewards available to them. That is like letting money fly out the window. Do not forget to fill out the paperwork and send it in right away so that it doesn’t get lost in the shuffle.

  9. Shop with cash (and guard it well). Take cash along with you when you shop and leave the credit cards at home. If you do not have them with you, you cannot use them. That means you are more likely to stick to your list and less likely to overspend as the holiday chaos unfolds and you get caught up in the excitement.

  10. Use and stack coupons. While some retailers exclude coupons during the holidays, others apply them liberally. Stores like J. C. Penney and Bath and Body Works, for instance, not only allow you to use coupons, there are some days when you may be able to stack them with exceptional sales during the holiday season. Use them wisely.

  11. Use apps or shop through sites that offer money-back. If you are going to shop online, some websites allow you to earn cashback rewards on all the holiday shopping you do that originates on their website. While this usually helps with a payout after the holidays, it is money that is going back into your pocket. Additionally, they offer discount codes that will help you save big on your shopping right away.

  12. Dine at locations offering bonus cards. While you are out shopping for the holidays and get the munchies, only dine at places that offer bonus gift cards. Purchase a gift card as a gift and enjoy a free lunch or dinner in the process!
There are many great ways to save big on your holiday shopping. These will get you off to a nearly perfect start while helping you score some massive deals!

Shopping Strategies for Holiday Deals

View Resource Shopping Strategies for Holiday Deals
With a little imagination and ingenuity, you can transform standard household items into things that give these tired old items new life and new love in a process known as upcycling. More importantly, it keeps these items out of landfills, provides them new usefulness, and helps the planet because you are reinventing existing things rather than investing in new ones. What is “Upcycling”? Upcycling is the art of recycling something by creating something new from it. For instance, you can upcycle a skirt with a small tear into a curtain or apron for your kitchen rather than throwing it away. In a world with so many disposable products, it is always good to discover ways to give things new life and usefulness. That is what upcycling can do for all types of items you have in your home, giving you, or others, new reasons to love these tired or forgotten pieces. 10 Upcycling Ideas Sometimes you need a little help to get started with your upcycling efforts. Perhaps it is a lack of inspiration that is holding you back or merely an absence of ideas. These ten upcycling ideas ought to keep your upcycling endeavors going for a while.
  1. Use broken and chipped cups and saucers to create masterpieces.
    There are tons of ways you can do this. You can break them into smaller pieces and use the pieces to create mosaic tabletops, stepping-stones, or even wall art. You can glue cups to saucers to create multiple tiers of a small serving tray, desktop organizer, or quirky jewelry holders. You could even use them as planters for a kitchen herb garden.

  2. Give old furniture a new life.
    Some ideas to give a piece of furniture a new life include transforming an old dresser into an entertainment center for your bedroom or living room, a serving table or buffet for your dining room, or additional storage for household linens. Other projects to consider include:
    • Turning an old entertainment center into a pretend kitchen for the little ones.

    • Creating a beautiful bench from an old chest of drawers.

    • Turning an old bedside table into a pet bed for your furry best friend.
    Furniture is large and bulky and takes up a tremendous amount of space in local landfills. Projects like this give old furniture new usefulness, and second life, while helping to keep them out of landfills.

  3. Transform wine bottles (or other types) into lamps.
    A few strings of light and some beautiful bottles are all you need to light up your home with lamps that offer a warm glow and ambiance.

  4. Upcycle old jewelry into stunning curtains.
    Beaded jewelry is an amazing choice for transforming into sparkling and pretty curtains that cover windows, divide rooms, and create focal points within the home. Add a little lace into the mix for privacy’s sake.

  5. Revitalize old jars and bottles into vases and storage.
    All you need to do is remove the existing labels and add your own finishing touches.

  6. Makeover old tee-shirts into a memory blanket.
    That is a beautiful reminder for those who have lost loved ones, or to give to children graduating high school.

  7. Make furniture, shelves, etc. from wooden pallets.
    Wooden pallets are made with surprisingly high-quality wood considering their purposes. Then, they are broken down to serve as mulch or sent straight to landfills across the country. That is unless someone comes along to repurpose them into something more useful. While it is possible to buy them online, that is often unnecessary. It is very much possible to get them free — if you know where to look.
    Lifehacker recommends going to local, independently owned (no chain stores) shops, such as garden and nursery stores, hardware stores, and power equipment stores, and ask if they are willing to part with any of their pallets. Many of them are glad to do it as it saves them from disposing of them.

  8. Revamp old windows into picture frames and tabletops.
    Anyone interested in a rustic, farmhouse style of décor will find a lot to love about this upcycling project that is simple to do and almost always gets compliments.

  9. Create a hanging bookshelf from an old ladder.
    That helps to keep books organized and free up vertical spaces within the home for other things.

  10. Make pendant lamps from old bottles.
    These make some of the most beautiful and unique pendant lights for a home. The project is also a lovely way to bring the past into the present without sending old things to a landfill in your community.
You don’t have to move mountains to change the world. All you need is a little imagination and a steadfast commitment to the planet. Upcycling can help.

Upcycling Basic Household Items

View Resource Upcycling Basic Household Items
Retirement planning is far from simple. Sometimes, it feels like you are speaking a different language from everyone else. From words like 401k and 403b to IRAs, it can be a bit overwhelming. The better you understand your IRA options, though, the greater your flexibility in managing your retirement investments becomes. These are a few key details and facts about IRAs you need to know. Individual Retirement Accounts First things first, what is an IRA? IRA is short for Individual Retirement Account. It represents a specific type of tax-advantaged investing account set aside for retirement savings. The varied types of IRAs allow improved flexibility and freedom for your retirement investing. The more you learn about your options, the more informed of a decision you can make about which type of IRAs best meet your needs and interests. Before diving in too far, it is essential to understand that whether your contributions to an IRA are tax-deductible depend on a few factors, including accessibility to employer-sponsored retirement plans and your income. There are also limits related to how much you can invest in IRAs each year. Plus, funding limits can vary from one type of IRA to the next. It is wise to consider all options before choosing one over another so that you have a clear image of what each one will mean for your retirement savings. Traditional IRAs As long as you are employed, whether self-employed or otherwise and under the age of 70.5, you can invest in a traditional IRA. That is, as long as you fall within the income limitations and abide by the maximum contribution limits for traditional IRAs.  If you have an employer-sponsored retirement plan you participate in, you may still contribute to a traditional IRA, but those contributions are not tax-deductible. The one upside of that, however, is that the earnings are tax-deferred as they grow. With the traditional IRA, you may begin receiving distributions of payment at the age of 59.5 as long as you have had the account open for at least five years, and you must start taking out distributions by April 1 of the year after you reach the age of 70.5. The costs of early withdrawals are high and include taxation and IRS penalties of 10 percent. You may, however, receive a loan from your IRA. It must be repaid within 60 days, though, or the same penalties for early withdrawals apply. Roth IRAs While Roth contributions are never eligible for tax deductions, the earnings on these investments grow tax-free. Investing in this type of IRA is, essentially, giving yourself the gift of tax-free income during your retirement. The limits for investing in Roth IRAs are usually equal to the limits of investing in traditional IRAs when it comes to income and investments.  Another benefit of the Roth IRA is that it offers more lenient rules regarding withdrawals. Anyone who anticipates retiring in a tax bracket that is larger than their current tax bracket might want to consider the post-retirement tax-benefits this type of IRA delivers.  Roth IRAs are also exceptional choices for people interested in leaving their heir’s tax-free income. In some cases, it can last throughout their lifetimes, according to Bankrate. You can also continue contributing to your Roth IRA even after reaching the age of 70.5, which is something you cannot do with a traditional IRA. One more reason to give the Roth IRA a long, hard look applies to high earners or people who earn more than the limits for a Traditional IRA. You do this by making a contribution to a Traditional IRA that is not tax-deductible and then converting that IRA to a Roth IRA. You must also pay taxes on any gains made when the conversion takes place. Many refer to this is at the Roth Back Door. However, there are tricky tax considerations for this option, and you should obtain the advice of a tax professional before going down this path. Self-Directed IRAs This type of IRA, while governed by the same contribution and income limit rules of other types of IRAs offers greater freedom when it comes to types of investments allowed. For instance, Roth and Traditional IRAs are often limited to the usual investment scenarios that include the following: Self-directed IRAs offer an expanded list of assets in which you can invest, such as: It offers investors more options but also comes with stricter regulations about how the money can be used in relation to those investments. SEP IRA Short for Simplified Employee Pension IRA, these are employer-sponsored IRAs. The money in these IRAs gets contributed by the employer and offers a flexible, cost-effective option for employers who would like to help employees have retirement savings but are not able to contribute every year. The employee controls the retirement funds in an employee’s account. The employer makes contributions when possible and receives the tax deduction for the contribution. Simple IRA This employer-sponsored plan is short for Savings Incentive Match Plan for Employees (SIMPLE) IRA. Best suited for small businesses that have fewer than 100 employees who earn at least $5,000 annually. The beauty of this plan for employees is that employers may make matching contributions or non-elective contributions. IRAs might sound complicated. And specific rules abound for each different one. Working with a financial advisor and tax professional can help you maximize your IRA mileage so that you can get closer to your retirement goals.

What are My IRA Options?

View Resource What are My IRA Options?
You have probably seen advertisements advising you to search for unclaimed money. Many people dismiss the offers as potential scams or information grabs. However, many people are leaving money on the table without even realizing it. Even the U.S. Government has a site for people who may have unclaimed money from things like bank and credit union closings, tax refunds, back wages, pensions payments, and even life insurance payments. And that, for many, is only the beginning. How Much Unclaimed Money is Available? According to USA Today tech columnist Kim Komando, in Arizona alone, there is more than $1.5 billion in unclaimed property just waiting for the right person to claim it. That includes things like FHA refunds, utility deposit refunds, unclaimed life insurance, and undelivered tax refunds. Of course, it is crucial to be mindful of scams. Companies are out there offering to locate unclaimed money on your behalf – for a fee. If you are looking for money from one of the sources mentioned above, the U.S. Government website is an excellent place to begin your search.  How Does Money Go Missing? Money goes missing in a variety of ways.  Places to Look Fortunately, there are plenty of places to look. The best practice is to begin your search in your home state. If you have lived in multiple states, you may want to consider searching for unclaimed money in all of them. You should be aware that each state could have different websites and processes for looking for and claiming unclaimed money in your name.  The simple step would be to do an Internet search for “unclaimed money + state.” Just make sure that you find a trusted site with a .gov extension before you provide any personal information. You should also never pay a fee. You might also consider where you can conduct a state by state search for unclaimed properties in your name. However, there are a few helpful websites that may aid you in your search for unclaimed money: One huge tip is to look for variations on your name if you have one that gets commonly misspelled. That offers you more opportunities to find the funds that may belong to you, despite an incorrect spelling. Once you have located unclaimed funds that potentially belong to you, it is time to collect those funds. Each website should detail the process for claiming your funds, as well as provide information related to how long it should take to complete the process and deliver proof of your identity.  The process, from start to finish, can take anywhere from a couple of weeks to a couple of months. While the rewards for your efforts may be small, there is always a chance that they can be much larger than you anticipate. Takeaway There is a lot of legitimate unclaimed money floating around. Knowing the right places to find the money and how to avoid common scams can help you find any unclaimed money waiting for you, without becoming a victim in the process.

Searching for Unclaimed Money

View Resource Searching for Unclaimed Money