What I’ve Been Up To

This Week In Your Wallet: April 19, 2011

Did it seem to anyone but me that tax season was longer this year? And no, I don’t mean the extra three days you got to file. I suspect it has something to do with the fact that we’re almost through April and it still doesn’t feel like Spring has actually sprung. Nonetheless, assuming you filed on time if you’re among the three-quarters of filers getting a refund this year it’s likely to be a doozy – more than three grand.

Now, I’ve always been one of those financial writers who counseled against getting a refund, nudging you to re-calculate your withholding if you’re having too much taken out. But a story in last week’s Wall Street Journal quotes a psychologist as saying that a “$3,000 check feels very different from $3,000 dribbled out in paychecks over a year.” Young people especially like the windfall, so they’re not changing their withholding by choice. If this sounds like you, then at least make the most of the windfall by doing something smart with it. My suggestions: Use it to kickstart your savings. It’s more than half the year’s contribution to an IRA. Or pay down credit card debt. At 19.9 percent, it’ll save you $597 this year in interest. Or make an extra mortgage payment. Do that every year and you’ll cut a 30-year-fixed rate loan to a 24. Here’s the link to that piece if you want to read more.

Not Such A Bad Job Afterall

It seems to me that all the news about airlines—from the hole in the Southwest plan to the hubbub about fees – has been downright depressing lately. So when I read that airlines have actually been better at on time performance and that there were fewer lost or damaged bags than in any of the past 20 years, I felt compelled to share the sunshine.

Just in case you want to hedge your bets, however, you way want to take a gander at the following list. It ranks the nation’s 16 largest airlines, from worst, to best, based on the number of complaints per 100,000 passengers.

Not Such A Bad Way To Spend Your Time (In Fact, A Pretty Good One)

Americans are a generous sort. The majority of us give money to charity. One in four volunteers. Turns out the latter can be a good way to spruce up your resume and make valuable connections. And in this recession both of those things can help you get a job – according to a story this week from SmartMoney.com. One staffing executive even called it a “differentiator.” If you’re looking for work, here’s what the story suggests you need to know to make the most of your pro-bono activities: Try to volunteer in a position that relates to the one in which you’re job hunting – or in a position where people who might have the ability to hire you also volunteer. Use the time to hone skills you need (because you’re not getting paid, the organization might be willing to train you.) And know that just like working your way up the hierarchy of a corporation, working your way up the hierarchy of a charity takes time and persistence. You can read the whole piece here.

Not That You Asked But…

A big bee in my bonnet has long been that unlike credit reports, which you can get for free through annualcreditreport.com, credit scores cost you money. At least FICO scores and those pulled together by the major credit bureaus typically do. But starting July 21, if you’re turned down for credit a lender has to send you a free copy of the score that decision was based on. And in the interim, if you want a free score you can get a close approximation at credit.com and creditkarma.com.

Finally, I decided to see if you’re reading all the way down to the bottom by putting the trivia question here. I’ve been glued to America’s Next Great Restaurant (you can watch the repeats if you have free on demand from your cable channel.) If Friends’ Joey Tribbiani was the creator of America’s Next Great Restaurant, what would that restaurant serve? Answer me on twitter @jeanchatzky or facebook.com/jeanchatzky . A free copy of the kids book to the first correct answers on each.

Until next week!

Jean