Life is busy. With full time jobs, school, family, friends, pets, kids, appointments, and errands, we barely have enough time to relax, let alone keep our finances in order. Sometimes a hectic life is what really wreaks havoc on our finances; we become so busy that we forget about frugality and budgeting and just want to get things done without caring about the cost. Here are some tips to help you keep your finances in order when your life is anything but in order: [...]

Ah, March Madness. It’s the time of the year when the men in my life go missing until early April, returning often with a broken heart and always with an empty wallet.

If you’ve just woken up from a several-decade coma, March Madness is the end of the college basketball season in the United States, culminating in the infamous nationwide NCAA Tournament. But it’s not so much the basketball that puts the “madness” in the month of March; it’s the betting.

In March, millions of people in offices, schools and even churches across the country—some who have never watched an entire basketball game in their life—will attempt to predict the outcome of the entire NCAA tournament and wager hard-earned money with coworkers and friends for the chance to win a pool of cash (and, of course, bragging rights for a year).

But wait, a personal finance Website telling you to gamble? Say it isn’t so! [...]

Picture this: You’ve just completed your tax return for the year. You’re stoked because you qualified for a ton of deductions this year, so you’re getting a huge refund. You are about to send of your tax return and sit back and wait for a hefty check in the mail, when someone utters three terrifying words to you: Alternative Minimum Tax (AMT).

If you claim a great deal of tax deductions, beware of this silent killer. The alternative minimum tax can come out of nowhere and require you to pay more tax than you ever thought possible.

Here are some facts on the alternative minimum tax so you know what to look out for if your deductions start stacking up this year: [...]

Have you ever wondered if you can itemize deductions on your tax return? Actually, have you ever wondered what, exactly, itemizing means? If so, you’ve come to the right place. I’m going to teach you the basics of itemizing: What itemizing is, whether or not you qualify to itemize and, if so, how to do it.

What Does It Mean To “Itemize Deductions”?

When you’re filling out your federal tax return this year, you’ll be asked to either calculate your itemized deductions or to take the standard deduction—an amount predefined by the IRS and based upon your filing status (e.g., single or married filing jointly). If you don’t qualify to itemize deductions, you will choose the standard deduction.

To find your taxable income, you must subtract the standard or itemized deduction from your Adjusted Gross Income (AGI). To be blunt, these deductions are our friends because they lower the amount of taxes that we have to pay.

Itemized deductions are comprised of various types of certain expenses that you incur throughout the year (things that are—surprise, surprise—“tax-deductable”). If the total amount of these expenses is greater than the standard deduction amount, you should itemize instead of taking the standard deduction.

For example, the 2009 standard deduction for single taxpayers is $5,700. If the amount you spent on qualified itemized deductions (see below) is greater than $5,700, then you should itemize on your tax return. [...]

Last week, I wrote about how dating can get costly as you grow into your twenties and I offered some tips for learning how to avoid spending a lot on dating.

This week, I’m back with a list of a few inexpensive date ideas to help with your frugal dating journey. An inexpensive dating life is possible; it just takes a little creativity to plan dates that are fun and inexpensive but don’t feel cheap. The inexpensive dates may take more time to plan, but your wallet (and hopefully your date) will appreciate it in the end.

With Valentine’s Day just around the corner, hopefully these ideas will help you put a fresh and frugal spin on your next date: [...]

It’s an age-old conundrum: How do can you make a good impression on a date and not spend a lot?

Still in college? Then a night out at “Quarter Draw Thursdays” might be all it takes. The rest of us don’t have it so easy. There’s no way around it, a typical post-college “dinner and drinks” date can really set you back. If you’re smart, however, you can have great dates for fewer dollars. Here’s how:

Go Easy on First Dates

Your desire to make a great first impression on a first dates can tempt you to pull out all the stops. Think twice. If this date’s a flop, you never know just how many first dates you’ll be going on, and following your urge to splurge could get expensive pretty fast.

First of all, don’t pay if you don’t have to! Post 1959, there may be as many arguments for how to divide the check on a first date as there are romantic restaurants to choose amongst.

The rule of thumb (or one we like, anyway) is that the asker foots the bill.

That means you can wait around for somebody to ask you out or go looking for other ways to save. (Which would be wise, because first dates don’t have to break the bank). For example, you could forgo the tired dinner and a movie routine for a home-cooked meal (though this works best if you’re already friendly with your date; not so much for Match.com first meetings).

Or, meet for lunch instead. At many restaurants the tab will cost half as much as dinner (plus the date will be quicker so you can make a fast break if things get awkward).

Lastly, don’t be afraid to bust out a coupon, even on the first date. Call me a financial freak, but I’d have gone gaga had a guy used a coupon on a first date! (Put it this way: If you’re the kind that likes coupons but your date is horrified that you would use a coupon on a date, how far is that really going to go?) [...]

Buying your first home is a serious and exciting event. It takes patience, money and responsibility to be ready to buy a home, but buying the property is only half the battle. The transition between depending on a landlord and being your own landlord can be a shock!

And though home ownership has certain advantages, it’s not all fun and games. As you age, you will most likely start to feel pressure to buy a home from friends, family and the media. I’m here to tell you that it’s perfectly alright—perhaps even preferable—to wait. You should buy a home if:

• You want to be a home owner. (Not everybody does, and that’s OK.)
• You’re financially ready. (Meaning good credit, secure income and a 20 percent down payment.)
• You’re not going to move. (If you think you’ll change cities within five years, why bother buying?)

You should not, however, buy a home for the following reasons: [...]

It’s nearly that time of year again. The stress. The procrastination. The arithmetic. The missing receipts. That’s right; it’s almost tax time!

Filing taxes and decoding IRS lingo may be some people’s idea of a good time, but for the rest of us, it may make more sense to hire a professional tax preparer or accountant to take care of our 2009 tax returns.

But how do you know if you really need the help of a professional tax preparer? Ask yourself the following questions before deciding to hire a professional to prepare your taxes. [...]

Along with getting in shape, improving one’s personal finances is another popular New Year’s resolution. Every year, millions of Americans vow to get out of debt, save more money, or contribute more to their retirement accounts. Did you make financial resolutions this New Year? If so, read on to find out how to make those resolutions stick.

Be Reasonable

If your annual income is $40,000, it’s not realistic to declare that you’re going to pay off $35,000 in student loans in 2010 unless you’re going to live in your parents’ basement and eat Ramen noodles at every meal. Unattainable goals will only set you up for failure. It’s important to be ambitious, but it’s practical to be rational. If your goal is debt payoff, sit down and hash out the numbers until you come up with a monthly amount that you can pay towards your debt after you’ve set money aside for necessities and bills. [...]

At gyms across America, it’s hard to get a treadmill in January. That’s good news for gym owners; within the next month throngs of new gym-goers will pony up initiation fees, sign year-long membership contracts and—in general—pay too much.

But not you. If you’ve resolved to join a gym in 2010, you don’t have to go broke to get fit.

Most gyms do offer incentive plans right around the New Year, but don’t stop there. Try these tips to negotiate your way to an even deeper gym discount: [...]