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Still hungry – food insecurity in the U.S.

Posted on November 16th, 2009 by Alexis Cala No Comments

Courtesy of Jessica Mullen (via Flickr)

Between the recession, job losses, and rising costs, millions of American households are going hungry. In fact, nearly 1 in 7 Americans are food insecure, or unable to afford and provide enough food for their family, according to a report from the USDA.

Poverty and a lack of resources have made it more difficult for many families to find food, shelter, and healthcare. Necessities everyone should have access to. But in 2008, at least 17 million households were food insecure, up from 13 million last year – the highest level of food insecurity since reporting began in 1995, says the USDA. Even with record enrollment in SNAP and other assistance programs, millions of families are still in the red with “low” or “very low” food security. As more children grow up in food-insecure households, President Obama is working with Congress to extend benefits and expand programs to ensure access to healthy meals. Make sure you’re getting the help you need and deserve.

No one should go without food. Visit The Beehive for family support services, healthy eating tips, and financial help.

Tags: food assistance, food insecurity, food pantries, food stamps, health, healthy meals, hunger, job loss, Recession, snap, support services, U.S. food security, USDA
Posted in Crash Course | No Comments»

Say goodbye to overdraft fees – unless you want them

Posted on November 12th, 2009 by Alexis Cala No Comments

Courtesy of Mira Hartford (via Flickr)

The Federal Reserve is setting some new rules that will soon protect you from overdraft fees on ATM and debit card transactions. In fact, banks will only be able to charge these fees if you ‘opt in’ and sign up for overdraft protection.

The rules, which take effect July 1, require banks to inform customers of their overdraft services and offer coverage. If you choose not to opt in, and refuse the service, any ATM or debit card transaction that overdraws your account will be denied. In other words – banks can only let you spend what you have. Keep in mind the new rules do not cover bounced checks or automatic payments since many customers want their rent, utilities and whatnot covered just in case. Whether you opt in or not, some good advice: stay aware of your balance and only spend what you have.

Will you opt in and take the overdraft protection? Let us know what you think about the new rules in the comment section.

Now is a great time to track your spending, start a family budget, and get financially fit with The Beehive.

Tags: atm, banks, budget, consumer protection, debit card, Federal Reserve, fees, finance, Money, overdraft, overdraft fees, overdraft protection, personal finance, spending
Posted in Crash Course, Money | No Comments»

Coming soon – jobless benefits and homebuyer credit extensions

Posted on November 5th, 2009 by Alexis Cala No Comments

Courtesy of Tenaciousme

Congress approved a bill today that extends unemployment for millions and expands tax credits for homebuyers. President Obama will add his signature on Friday.

Just in time? The bill would extend unemployment benefits for 14 weeks in all states and up to 20 weeks in states with unemployment over 8.5 percent. The extension comes as 7,000 people are exhausting their benefits every day and jobs remain scarce with roughly six job seekers for every job posting. On top of the job situation, many homes around the country still sit empty. That’s why the $8000 credit for first-time homebuyers, originally set to expire this month, will also be extended through April. Another bonus for homeowners – the legislation includes a new $6,500 credit for buyers who have lived in their current home for at least five years.

Don’t miss out on these benefits. Visit The Beehive for unemployment help, job services and more.

Tags: bill passed by congress, Congress, economy, Employment, extended benefits, first time homebuyers credit, homeowners, job loss, jobs, Obama, recovery, tax credit, unemployment, unemployment rate
Posted in Crash Course, Employment, Homeownership | No Comments»

Time for some innovation – more job losses ahead

Posted on November 2nd, 2009 by Alexis Cala No Comments

Courtesy of Robyn Beck (via Getty Images)

As unemployment nears 10 percent and more job losses are expected, President Obama says creating good-paying, long-term jobs is now his “administrations overriding focus.” And this time they’re looking at new, innovative ways to get you back to work.

In his meeting with the Economic Recovery Advisory Board, Obama discussed a need for growth in exports, manufacturing, infrastructure, and clean energy. Industries that could create growth across the board. Of course, it’s not going to happen overnight. But new tax breaks, hiring credits and projects like weatherizing and retrofitting buildings, could help stimulate the economy and generate millions of jobs. Keep in mind, the economy is making a slow comeback, but job losses mean we still have a long road to recovery.

Are you ready for a great job? Check out The Beehive for job training, resume help, unemployment and more.

Tags: economic recovery adivsory board, Employment, job losses, jobs, Obama, recovery, U.S. economy, unemployment
Posted in Crash Course, Employment | No Comments»

Credit card rates, fees, payments may spike for some

Posted on October 13th, 2009 by Alexis Cala No Comments

Courtesy of Ohadweb (via Flickr)

Before a new credit card consumer protection bill takes effect in February, some credit card companies are taking advantage of the grace period.

Some are not, though. Discover and Bank of America are among a few of the card issuers who have decided to freeze interest-rate hikes — for now. But other companies are quickly upping interest rates and fees, and raising minimum payments before the bill becomes law. The reason: the risk of non-payment is too high, so card companies are compensating just in case you can’t pay your bill.

But don’t worry just yet… Congress doesn’t like it either. As more complaints pour in from angry card holders, members of Congress want to act fast and move the bill up to December.

Do you feel at-risk? Let us know in the comments. And check out The Beehive for a great section on credit cards, financial fixes, and more.

Tags: Congress, consumer protection, credit card act, credit card protection bill, credit cards, interest rate hikes, Money
Posted in Crash Course, Money | No Comments»

Benefits may get extended

Posted on October 12th, 2009 by Alexis Cala No Comments

Courtesy of Swimparallel (via Flickr)

Housing programs and extended unemployment benefits have given many people a glimmer of hope and some much needed relief. Of course, with the growing number of bad mortgages and claims for unemployment, it’s no surprise the demand for assistance is expected to surge. But many of these programs will also soon expire. The question now is are they worth continuing?

While these programs haven’t solved everyone’s problems, they have made a dent. So far in 2009, over 357,000 new home owners have taken advantage of the $8,000 tax credit for first-time buyers. Extending unemployment insurance has also helped millions of folks avoid hitting absolute bottom. But with mortgage programs coming to an end and September unemployment hitting a 26-year high of 9.8 percent, the fear that people will stop spending again is a very real one. With this in mind, the Obama administration is considering another extension.

Until then, there are things you can do today to keep up with payments, find a job, and stay afloat. Check out The Beehive for more information and help with housing and unemployment.

Tags: economic recovery, economy, Employment, extended benefits, first-time buyers credit, housing, Money, mortgage help, Obama, Recession, unemployment, unemployment rate
Posted in Crash Course, Employment, Homeownership | No Comments»

Credit Cards: Consumers Get a Little More Protection

Posted on August 20th, 2009 by Alexis Cala 3 Comments

by Alexis Cala, PICurrent Assistant Producer

Courtesy of The Consumerist

Unfair rate hikes and dishonest billing practices by credit card companies may be a thing of the past with new guidelines from the Credit Card Act of 2009 taking effect soon.

Nearly 90 percent of Americans have a credit card and almost half have a balance to pay off. This puts a lot of people in a position to be taken advantage of. Fortunately, the Credit Card Act seeks to protect consumers and keep card issuers honest. While a large chunk of the legislation doesn’t take effect until February 2010, card users will begin to see a little more protection starting this week (read the full story on Reuters).

If you have a credit card you can look forward to a few improvements:

Banks must allow at least 21 days for customers to pay their monthly bill and give 45 days notice of any changes to rates or fees (before customers were only given 14 days to pay and 15 days notice of changes)
You will be able to reject contract changes you don’t agree with and make arrangements to cancel the debt and close the account.
Protection against exceeding your card limit

More changes to watch for:

Limits on fees
Bans on unfair rate increases
Plain language and more disclosure
More access to account activity and terms
More protection for students and young card holders

While changes to the current laws will help, you can also do your part to make sure your credit cards and debt stay manageable. Check out The Beehive for a great resource section on credit counseling and how to stay out of debt.

What is this?

Tags: consumer protection, credit, credit card, Credit Card Act of 2009, credit counseling, debt, fees, finance, Obama, unfair practices
Posted in Crash Course, Money | 3 Comments»

Is Your Credit Keeping You From Getting a Job?

Posted on August 11th, 2009 by Alexis Cala No Comments

by Alexis Cala, PICurrent Assistant Producer

Courtesy of B Rosen

Trying to get a job today is hard enough, but a credit check by a potential employer might make it even more difficult.

Credit cards and quick cash seem like a lifeline when no one else can help. Unfortunately, as many are finding, racking up debt can cost more than you think. While employers running credit checks is not a new thing, more organizations are using your credit to narrow down stacks of applications. Even the most qualified applicants are being turned down because of poor credit.

Although bad credit alone isn’t usually a reason to be denied a job, some employers are now using it to check your judgment. Too many negative marks might look like bad decision-making and could ultimately cost you a job. It doesn’t seem fair, but in most states it’s perfectly legal. For the millions of people dealing with foreclosure, debt, and bankruptcy this means that the worse off you are, the harder it may be to find work (read the full story on The New York Times).

Do you know what’s on your credit report? If you’re looking for a job, now may be a good time to check your credit. Employers are required to ask before running a credit check. Make sure you know what’s on there before you miss out on a job opportunity. Find out how to get a free credit report, here.

If your credit is less than perfect, check out The Beehive for credit help and to find a counselor who can get your credit score back on track.

What is this?

Tags: credit, credit counselor, credit report, debt, Employment, foreclosure, Recession, unemployed
Posted in Crash Course, Employment, Money | No Comments»

Unemployment Insurance: Are You Running Out of Coverage?

Posted on August 5th, 2009 by Alexis Cala No Comments

by Alexis Cala, PICurrent Assistant Producer

Courtesy of aflcio2008

Unemployment insurance is supposed to be temporary relief for those who have lost their job and need a little help. Although, in a recession, temporary can mean long term and many are finding out there is a limit.

Running out of unemployment benefits is a very real concern for more than nine million jobless American’s.

In fact, without more help, over 1.5 million people are expected to use up their unemployment by the end of this year. Even with Congress extending coverage in most states, thousands of job-seekers are already out of their extended aid. Unfortunately, more are likely to follow. This many people losing their cash flow could mean big problems. Unemployment insurance has helped many U.S. households avoid falling deep into debt and kept even more out of foreclosure (read the full story on The New York Times).

Here are a few things you can do to make sure you’re covered:

Find local assistance. Contact your state employment office and career-one-stop for help with housing, utilities, food, job training, etc.
Temporary relief. Apply for programs like LIHEAP, Partner for Prescription Assistance, food stamps, etc.
Keep applying for jobs! There are still jobs out there, but you have to know where to look and how to apply, try some of these helpful tips.
Volunteer/internship opportunities. This can be a great way to get your foot in the door, some are even paid!
Start your own business. If you have the means, now may be a good time to get your business going, Side Hustle can help you get started.

If you’re running low on unemployment, don’t qualify, or just need a little help, read our previous post for more ways to cover costs and avoid some headache.

Also, check out The Beehive for a great section on finding a career and many of your unemployment needs.

For more, visit:

Reuters

U.S. Department of Labor

What is this?

Tags: Employment, extended aid, how to stay covered, Recession, unemployment, unemployment benefits
Posted in Crash Course, Employment | No Comments»

Homes for Sale: As Prices Drop, New Home Sales Soar

Posted on July 29th, 2009 by Alexis Cala No Comments

by Alexis Cala, PICurrent Assistant Producer

Courtesy of TheTruthAbout

New home sales made a big jump last month. They’re the highest they’ve been in nearly a decade.

The housing market looks like it’s trying to make a comeback, according to a report from the U.S. Department of Commerce. Economists hope this means the recession is nearing an end.

Along with the surge of new home sales, construction of homes and apartments increased by 3.6 percent in June, the highest level in seven months. Even requests for building permits, which signal growing demand for new homes, rose 8.7 percent.

If you’re considering home-ownership, now might be the time to buy. Why?

Tax credits: $8,000 tax credit for first-time home buyers has helped many people buy their first home. Because this credit expires in November, many buyers are now scrambling to take advantage of it.
Low mortgage rates: Average rates for 30-year mortgages have fallen to a record 4.78 percent making it easier for some to afford a new home.
Falling home prices: Median new home prices fell about 12 percent to $206,200 compared to last year. Prices likely will continue falling as new homes compete with foreclosures. Good news for home buyers, not-so-good news for sellers.

This data is the latest signal that the U.S. housing market may be finally leveling off as prices fall and some home buyers begin to cautiously get back into the market. But, even with these signs of stability, some are worried that unemployment, low wages and lending issues could continue to impact homeowners everywhere (read the full story on The New York Times).

A full recovery isn’t going to happen overnight, especially when empty houses, foreclosures, and bad mortgages still hurt many Americans. But even small improvements can help boost confidence and get America a little closer to a more stable economy.

If you’re ready to own a home, but don’t know where to start, we can help. Check out The Beehive for everything you need to know before you buy.

For more information, visit:

The Washington Post

The Associated Press

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