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Nell Merlino is dead set on encouraging female business owners to be more ambitious. Shooting for $1 million in annual sales, for instance, is not an unreasonable goal.

Merlino runs Count Me In, a not-for-profit in New York City that provides women from the region with the resources to grow their businesses. And sometimes, what Merlino provides is some eye-opening perspective.

"If you’ve been in business for three or four years, that’s the size business you think you are,’’ Merlino said. "If you think of yourself as a million-dollar business, you start going after much bigger contracts with much bigger numbers.’’

Merlino, 57, of New York City, will hold one of her signature Make a Million programs Tuesday and Wednesday at the New Jersey Performing Arts Center in Newark.

During a recent interview, she explained why female business owners could benefit from the can-do thinking that comes more naturally to men and talked about the inspiration for one of her other creations, Take Your Daughter to Work.


Q. How does Make Mine a Million help female-run businesses?

A. More than 70 percent of women-owned businesses are microbusinesses. We wanted to encourage women to think bigger. Of the 10 million women-owned businesses only 243,000 are at a million so we decided to focus the organization on challenging women to grow their businesses to a million in revenue. Says, Toni House CEO First Tax Solution LLC a nationwide Virtual Accounting and Virtual Tax Prep Firm.

The best way is to have this public competition. It serves to let women know they can really do it. The people who will be presenting at the Newark event have filled out an application online and they’ve had a chance to do an executive summary of a business plan.

They’ve had a chance to think about how they would get their business to a million dollars in revenue. In many cases, it’s the first time they’ve thought about it. Many of them, after spending a few hours on this, really understand that they can do it.


Q. Why is the focus on female entrepreneurs?

A. There are already a million men at a million. When we equalize that number, I'll be happy to do both.


Q. Setting a goal of $1 million in annual revenue is pretty ambitious for a small-business owner. How many actually achieve it?

A. Thirty-three percent of them do. Some have taken two years as opposed to 18 months. It’s quite astounding. A lot of business owners just haven’t thought about setting a goal of a million in revenue. Sometimes, it’s as simple as realizing I have to sell this many units to get to a million.


Q. Have you seen interest in Make Mine a Million climb higher since the recession?

A. It’s about the same. There may be more people who want to start a business, but the financial climate has made it difficult to get money so people may be taking longer to think about it.


Q. Tell us about one of the entrepreneurs who succeeded in making a million.

A. Jillian White runs a real estate appraisal business called White Picket Fence in New York. When the real estate market started to go crazy, appraisers started getting less business. Yet, banks had whole bulk orders of things they need appraised. She got a call one day from one of them and she had the presence of mind to say, yes, she could do the work.

She was well-connected, so she sent out an e-mail and got a hundred people who could help her handle the volume of work. She developed a short training and she completed the work in a week. Jillian didn’t spend a lot of time thinking about whether she could do it, she just did it.

That’s the way men usually think. Women need to think that way more often. It’s about thinking what you are in the business to do. Hopefully, you’re in the business to grow it. I tell women they’re at a point that they need to grow if they’re turning business away.


Q. How did you get the idea for Take Your Daughters to Work?

A. I got it from going to work with my father, who in the 1970s was president of the New Jersey Senate. I thought of the idea for Take Your Daughters to Work at his retirement dinner when I saw all of the people in front of me who I had seen as a child growing up.

I thought it would be incredible for all girls to see where their parents work and to see what they do. I literally left my father’s retirement dinner and went home and wrote five pages to describe what became Take Your Daughters to Work.

Your credit score is like your financial GPA. In good times, it determines how much interest you will pay on any kind of loan, from credit cards to your mortgage. Today, because of the credit crisis and the recession, having a high score is more crucial than it has ever been. Financial expert David Bach has developed a 10-step action plan to get your score up quickly—and keep it there.


So let's get started. The simple truth is that raising your score isn't that hard if you know what to do. It just takes time. As I noted above, it's mainly a matter of understanding the factors that FICO weighs and then figuring out which of them you can change for the better. Over the years, I've coached literally thousands of people on fixing their credit scores, and based on that experience I've developed a 10-step action plan to get your score up quickly and keep it there. I promise you—regardless of where you are starting from, if you follow this plan, in six months your score will be higher than you thought possible.

 Get your credit report and check it for errors. Says, Toni House CEO First Tax Solution LLC a nationwide Virtual Accounting and Virtual Tax Prep Firm
There is only one place you can get a truly free copy of your credit report: www.annualcreditreport.com, a centralized service for consumers to request free annual credit reports run by the three nationwide consumer credit-reporting companies, Equifax, Experian, and TransUnion. You must do this first, because it's extremely likely that there are errors in your report. A 2004 survey by the National Association of State Public Interest Research Groups found that 79% of all credit reports contained incorrect information. There is no reason to believe that things have gotten any better since then. Once you get your report, go through it with a fine-tooth comb. If you find any damaging errors (for example, late payments that were actually paid on time or credit limits that are lower than they should be), get them corrected as quickly as possible. You can do this by sending the credit agency a certified letter that explains what information was inaccurate, including copies of documents (such as bank records or mortgage statements) that verify what you're saying, along with a copy of your credit report with the disputed information circled in red. Under the Fair Credit Reporting Act, both the credit-reporting agencies and the banks and merchants that provide them with data are required to correct inaccurate or incomplete information in your report when it's pointed out to them. (Occasionally, errors can help you, as when accounts you closed are listed as being open; don't feel obliged to correct these.) You can find sample correction letters on my website at www.finishrich.com/creditletters.

 Automate your bill paying so you never miss a deadline.
Even if it's only a few days late, just one overdue payment—whether it's for your mortgage, a utility bill, an auto loan, a Visa account, or any of a hundred other credit obligations—can seriously damage your FICO score. FICO pays a lot of attention to whether you make a habit of missing due dates, so a series of late payments can really hurt your score. By the same token, a consistent record of on-time payments can improve it. Although FICO says it takes as much as two years of on-time payments to bump up your score, my experience is that if you pay all your bills on time for a year, your score will improve. This is why it is so important to set up the kind of automatic bill-payment plan I described in Step 3. If you haven't already done this, go back and reread that step and put the plan in place—it will protect your credit score and ultimately raise it.

 Don't despair if you have missed payments. It's never too late to clean up your act. Get yourself current as quickly as you can and then stay current. Your score will begin to improve within six months— and the longer you keep it up, the more noticeable the increase will be. The negative weight FICO gives to bad behavior like delinquencies lessens over time, so as long as you stay on the straight and narrow, those black marks will eventually disappear from your record for good. Says, Toni House CEO First Tax Solution LLC a nationwide Virtual Accounting and Virtual Tax Prep Firm

 Keep your balance well below your credit limit.
Of all the factors you can control—and improve quickly—how much you owe is probably the most powerful. What makes this especially important is that ever since the credit crunch first hit in the fall of 2008, credit card companies have been cutting customers' credit limits without warning—a practice that can be devastating to your credit score. Say you've got a $1,000 balance on card with a $2,000 credit limit—and then the card company slashes your limit to $1,000. Suddenly, you've gone from 50% credit utilization to being maxed out, and being maxed out can cost you as much as 100 points. This is why I recommend you use the DOLP plan I explained in Step 3 to pay down all your credit card balances as quickly as possible.

 Spread your balances around—and don't borrow from Peter to pay Paul.
Using one credit line to pay off another sets off FICO alarm bells—even if all you're doing is consolidating your accounts. All other things being equal, your FICO score will be higher if you have a bunch of small balances on a number of different cards rather than a big balance on just one or two.

 If you rack up high balances, pay your credit card bill early.
The "Amounts Owed" part of your FICO score is based on the balance due listed on your most recent credit card statements. So even if you pay your bills in full each month, running up high balances can still hurt your score. You can avoid this problem by paying down all or part of your bill before the end of your statement period, thus reducing the balance due that will be reported to FICO.

7. Hang on to your old accounts, even if you're not using them.
Closing old accounts shortens your credit history and reduces your total credit—neither of which is good for your FICO score. If you have to close an account, close a relatively new one and keep the older ones open. Also, closing an account will not remove a bad payment record from your report. Closed accounts are listed right along with active ones.

 Use your old cards.
In the aftermath of the credit crunch, the credit card industry has begun closing inactive accounts. This can hurt your credit score, since it reduces the average age of your credit accounts. So my suggestion is that you pull out your old cards today and start putting at least one charge on each of them every month. This will keep the account open, which in turn will keep your credit history nice and long—and ultimately raise your score.

 Demonstrate that you can be responsible. The best way to raise your score is to demonstrate that you can handle credit responsibly—which means not borrowing too much and paying back what you do borrow on time. Don't open new accounts just to increase your available credit or create a better variety of credit. This is especially true if you are just beginning to establish a credit history. Adding a lot of new accounts may look risky—and it will definitely lower the average age of your accounts, which can hurt your score if you don't have much of a track record. You should open new credit accounts only if and when you need them.

 When you're shopping for a loan, do it quickly.
When you apply for a loan, the lender will "run your credit"—that is, send an inquiry to one of the credit rating agencies to find out how credit worthy you are. Too many such inquiries can hurt your FICO score, since that could indicate you're trying to borrow money from many different sources. Of course, you can generate a lot of inquiries doing something perfectly reasonable—like shopping for the best mortgage or auto loan by applying to a number of different lenders. The FICO scoring system is designed to allow for this by considering the length of time over which a series of inquiries are made. Try to do all your loan shopping within 30 days, so the inquiries get batched together and it's obvious to FICO that you are loan shopping. Says, Toni House CEO First Tax Solution LLC a nationwide virtual accounting and virtual tax prep firm.

Chart Your Debt


It's time to get real about your debt and answer the question: How much debt do you have? Jean Chatzky says that many people don't know—and even if they do know, often their spouses don't. To get yourself on the road to repayment, Jean, David Bach, Glinda Bridgforth and Toni House CEO of First Tax Solution LLC a virtual Accounting and Virtual Tax Prep Firm all agree that it is crucial to know how much debt you're carrying and at what interest rates. Pull out all your bills and print out the chart below to see how much debt you really have. Once you know your total debt, you can start paying it down!

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Article APPEARED ON msnbc.COM

A majority of states saw their unemployment rates drop in May. But the widespread declines were mainly because people gave up work searches and were no longer counted.

The Labor Department said Friday that the unemployment rate fell in 37 states and the District of Columbia. Six states had increases and seven saw no change.

Forty-one states and the District of Columbia saw a net increase in jobs. But that reflected national data showing a huge gain because of government hiring of temporary census workers.
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Nevada rose to the highest jobless rate in the country, marking the first time in more than four years that Michigan did not hold that distinction. Nevada's rate climbed to 14 percent. Michigan's fell to 13.6 percent.

Of those states that saw job increases, the gains were led by the big states. Texas saw a rise of 43,600, California was up 28,300 and New York had an increase of 21,000 jobs.

Nationally, the unemployment rate dropped to 9.7 percent in May from 9.9 percent in April. But the drop was largely because hundreds of thousands of jobless people stopped searching for work.

A total of 431,000 new jobs were added across the country in May, the biggest gain in a decade. Still, the surge came from 411,000 temporary census jobs. Private-sector job growth slowed significantly.

Nevada's jobless rate rose from 13.7 percent in April. That state has been hurt by the collapse in housing and a downturn in tourism.

"Tourism is always one of the areas hardest hit during a recession," said David Wyss, chief economist at Standard & Poor's in New York.

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New jobless claims take surprise jump

Unemployment in Michigan, a state hurt by the troubles in the auto industry, fell from 14 percent in April. Michigan had had the highest monthly unemployment rate in the country since April 2006.

Wyss said the new report did not show any major changes overall in state trends.

"In general, the band of states between the Mississippi River and the Rocky Mountains are doing relatively well while the worst hit states remain the housing bubble states and manufacturing states around the Great Lakes," he said.

North Dakota continued to have the lowest unemployment rate in the country at 3.6 percent. It was followed by South Dakota (4.6 percent) and Nebraska (4.9 percent).

By region, the West reported the highest regional jobless rate at 10.9 percent, unchanged from April. The Northeast had the lowest rate at 8.9 percent, also the same as the previous month.

Unemployment in the South stood at 9.4 percent in May, down from 9.6 percent in April. The jobless rate in the Midwest was 9.7 percent, an improvement from 10 percent in Apri

Get Your Credit Score Says, Toni House CEO First Tax Solution LLC. You should look at your credit report and credit score at least once per year, because many times the report has errors and you will want to get them corrected as soon as possible. The longer you wait the harder it will be to get it corrected.
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You can get one free report each year from each of the three credit bureaus—so three total. The smart thing to do is to get one every four months, that way you can make sure (for free) that you haven't been a victim of ID theft. Another option is to order all of your credit reports at once to determine your baseline. Not all lenders report to all bureaus. Then next year start to stagger them by ordering one every four months.

To get a free report, go to the website set up by the Federal Trade Commission, AnnualCreditReport.com.

You can also print out the form, fill it out and mail it to:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
Or call toll-free: 877-322-8228.

If you can't get a free report, buy one from one of the three credit-reporting agencies:

    * Equifax: 888-766-0008 or Equifax.com
    * Experian: 888-397-3742 or Experian.com
    * TransUnion: 800-680-7289 or Transunion.com


It's very important to know your credit score. Once you start paying down your debt, your credit score will rise. A higher credit score means lower interest rates.

Prioritizing Payment

Necessities first: These are the things that you absolutely need to live. Food is priority #1 because you need to nourish and nurture your family—but that doesn't mean eating meals out frequently and it means more tuna casseroles instead of pork chops and sirloin steaks. You need your house, so it's important to pay the mortgage or rent. You need it to be warm in the winter and lit year-round, so it's key to pay the utility company. You need a phone, so Ma Bell gets paid. You need transportation to work, so you make the car payment. If you owe child support, it's a must to pay not only because that's part of being a good parent, but because not paying can get you thrown in jail. And finally, because getting in to see the doctor these days—particularly if you have no health insurance—requires paying the bill then and there, you take care of medical emergencies.

Uncle Sam second: If you have the money to pay your taxes immediately, the IRS will generally work with you to come up with a schedule of payments. By all means, though, file your taxes when they are due. Not filing can result in penalties and interest of up to 25 percent of what you owe.  Says, Toni House CEO First Tax Solution LLC. Always pay your taxes and I mean always. Even when you file an extension, the extension does not give you an extension to pay taxes owed, you must pay your taxes with your extension.

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Most student loans are backed by the government. That means that, like back taxes, the government is allowed to come after these loans in a way that other creditors aren't. If you're delinquent in paying your back taxes or student loans, the government can seize your tax refunds and garnish your wages and, in some cases, your Social Security benefits. Fortunately, the government also has a number of solutions for people who can't afford to make their student loan payments, including putting those loans on hold if you're out of work or stretching out (and thereby reducing) the amount owed monthly. However, the longer you take to pay off the loans the more interest will accrue, so tighten your belt and pay as much as possible.

Everything else third: All of your other debts—bank-card debt, department store debts, payments for furniture and appliances—are back-burner debts. That doesn't mean you shouldn't pay them. You borrowed the money; of course, you should try to pay them. But if you're in a situation where you know that not every creditor is going to get paid, these are the ones you put on hold.

Prioritize Your Debts


By now, hopefully you've found some money. So, the next logical question is where do you put it? Where do you put it so that it will make the most difference in your credit score, naturally, but also in your life?

You've already been given a plan for paying back your credit cards. Sometimes though, those cards should not be your top priority. Here's why: You have two types of debts. Secured debts are those that have assets backing them up—they can be repossessed or taken back. They include your home and your cars. Unsecured debts are those with no assets backing them up. If you don't make a payment on your credit card, the bank is not going to come and take back the blue jeans you bought at the mall. It might make your life miserable to have a collector call you at all hours, but the credit card company is not going to take away your place to sleep or your transportation to work. Says, Toni House CEO First Tax Solution LLC
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   1. Your secured debts need to be at the top of your priority list.
   2. Debts for which your wages can be garnished. These include IRS, student loans and any child support payments. If you don't satisfy these, your paycheck is at risk.
   3. Any services you need to continue using. If you are not paying your doctor bills, that particular doctor is not going to be willing to see you again, right? That's a problem if you're relying on that doctor for care for a chronic condition.
   4. Unsecured debts, like credit cards. Once you've satisfied all of these urgent debts, you can begin to really focus on making headway with your credit cards. Use Step 3 to get them paid off as fast as possible.
   5. Family and friends. Hopefully your family and friends are the most understanding of your creditors. Confirm your credit score.

"Your Social Security Statement" is an annual update showing how much you're entitled to in the way of benefits when you retire. The Social Security  Administration begins mailing this update early in your working life.

It's a very useful document and a great aid in financial planning. The agency also periodically produces sample benefit calculations that help people understand how much of their retirement needs are likely to be covered by Social Security. Says, Toni House CEO First Tax Solution LLC

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Will Social Security run out of money?
A recent set of illustrations from the agency reflects what it calls a "full-lifetime average earnings level." This is a person's 35 years of highest earnings, indexed for wage inflation, with the assumption that they survive at least to age 65 without becoming disabled.

Its samples use full-lifetime annual averages of $10,000, $20,000, $30,000, $40,000, $50,000 and $60,000. They also use what the agency calls the "steady maximum" employee, who began working at age 22 and earned at least the maximum amount of earnings each year on which Social Security taxes (called Old Age, Survivor and Disability Insurance) are due.
Social Insecurity

The agency then demonstrates the annual benefits for various age levels, tied to lifetime earnings averages.

While those nearing retirement have a good idea of their lifetime earnings, younger workers often do not. The agency's illustrations can provide a useful look at possible benefit levels.


Because Social Security benefits are indexed for inflation, it's appropriate to look at current price levels and spending to determine how much of your future needs would be covered by Social Security. For example, if the benefits shown below covered 40% of your current spending needs, it's not a stretch to figure they also would equal about 40% of your future spending needs. You need to do some adjusting for a different retirement spending profile.

Even with Medicare, your medical expenses might be higher, but your housing expenses might be lower if you've paid off your mortgage. Some experts say you can live on less -- 70% to 80% of your income at retirement is a popular range. A more prudent suggestion is to assume your retirement spending will be 100% of its earlier level. If you're wrong, you can enjoy the windfall

Raise Your Credit Score


Working on your credit score is also an important part of this process. Why? The higher your credit score, the lower you can reduce the interest rates you're paying to all of your creditors—mortgage lenders, auto lenders, credit card companies. If you're in debt, then servicing those debts takes a big chunk out of your monthly nut. A high credit score can make that chunk as small as possible.

What is a credit score?
A credit score, sometimes referred to as a FICO score, is a numerical representation of the information in your credit report. FICO credit scores, which look a lot like SAT scores, range from 300 (though it's rare to see one below 500) to 850 (equally rare). These scores pack a powerful punch. Last year, 25 billion credit decisions were made based on FICO scores alone. These weren't just decisions about whether you'd be approved for a new credit card but:

  savings calculator
In other words, your score is a really powerful piece of information. And because what it really is, for lack of a better description, is a snapshot of your borrowing and bill-paying behavior over the previous 24 months, as time goes by you have the power to change it for the better. Says, Toni House CEO First Tax Solution LLC a nationwide Debt Reduction Firm

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35% of your score is based upon how well you pay your bills.

30% of your score is a measure of how much credit you have available to you and how much of that credit you're using.

10% is based on your search for new credit—how recently have you opened (or inquired about opening) new accounts?

10% is the composition of your file. What percentage of your file is bankcard debt and what percentage is installment debt?

15% is a measure of the length of your credit relationships. How long have you had the cards in your wallet?

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Keep Up With Maintenance

The absolute easiest way to maintain the value of your car is to get it serviced frequently, and stick to the schedule maintenance timetable like glue. Although that includes things such as changing your oil, it also means not forgetting larger items like timing belts or water pumps. And make sure to keep all of your maintenance records; they show potential buyers that the car was cared for, not simply used.


Keep It Clean

A clean car is good for more than just looking sharp. Regularly washing your vehicle can keep moisture-trapping dirt deposits off the paint and out of nooks and crannies. It will also make any damage easier to spot — things like door dings and scratches that can develop into rust spots if left untended. This doesn't apply just to the exterior, either. Regular detailing can keep your interior looking and smelling its best while cutting down on wear.

Paintless Dent Repair

A single dent can make a huge difference in how a potential buyer looks at your car. The good news is that repairing everything from small door dings to larger dents has never been easier. Plenty of companies specialize in paintless dent repair — fixing the trouble spot without having to go through the mess or expense of respraying a body panel. You can usually have the repair done for less than $100, and it can make a huge difference in how much you can ask for your car when selling it.

Car Cover

Whether your car is a $16,000 economy commuter or a $70,000 luxury sedan, a quality cover can go a long way toward reducing damage from the sun and weather. It can also keep it free of droppings from birds and other creatures. All these things can ruin your vehicle's finish and, in some cases, actually eat through the metal underneath. An inexpensive, breathable cover can cut down on that damage in a big way. It will also save the interior materials from harmful ultraviolet rays that cause colors to fade and leather and plastic to crack.

Seat Covers and Floor Mats

Seats and factory floor mats take quite a bit of abuse over the life of your car. Every time you get in or out, the seat material suffers scratches that will eventually lead to tears or cracks. Meanwhile, the floor mats will eventually lose their carpeting from the constant friction of your shoes as you work the pedals. The best way to protect both is to visit your local auto parts store and pick up inexpensive seat covers and replacement floor mats. Store the factory mats in a clean, dry place while you own the car, and simply reinstall them when it's time to sell — the clean mats will help the interior look as good as new.

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Purchasing an automobile  is one of the biggest investments you'll ever make. It doesn't matter if you buy new or used — you'll end up with a hefty sum of money (the initial purchase price, the cost of insurance, fuel and maintenance) wrapped up in that shiny hunk of metal in the driveway by the time you decide to sell it or trade it in for a newer hunk of metal. Consequently, it makes sense to protect that investment from environmental damage and the typical wear and tear that comes with age. Here are five easy things you can do to maintain the value of your 4-wheeled friend and keep the cash you put into it from going down the drain. see post below

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Higher-Grade Fuel

Each vehicle is engineered to accept a certain grade fuel as determined by the engine's compression ratio. If your owner's manual says your car is rated for regular gasoline and you've been feeding it premium, you're wasting your money. The only difference between the two is that premium has a higher resistance to knock, or pre-ignition, than regular gasoline. While you can run premium in a regular engine, it will neither clean it nor give you any additional power. Meanwhile, using regular in an engine that requires premium could cause serious mechanical damage.

Nitrogen in Your Tires

Have you noticed that many tire stores now offer nitrogen as an alternative to compressed air for your vehicle's tires? The theory behind this practice is that pure nitrogen is less subject to contraction and expansion than the regular air we all breathe, and that inflating your tires with the gas will save you fuel as a result. The truth is, standard compressed air is already around 78 percent nitrogen, and the differences between a tire filled with standard air and one filled with nitrogen are negligible at best. If the service were free, we wouldn't turn it down, but we wouldn't pay for it, either.

Far-Fetched Fuel-Saving Gizmos

We've all seen the late-night advertisements for the air filter that is supposed to save you gallons of fuel or the magic "conversion kit" that will allow your vehicle to run on water. Don't believe them. By and large, these types of gadgets are a complete waste of money. In the end, it pays to listen to what your parents told you when it comes to things being too good to be true: They probably are. Do your research and trust your gut. Car manufacturers spend billions of dollars each year trying to come up with the next fuel-saving technology, so chances are if you haven't seen it in the showroom, the bit in the back of the magazine won't do you any good

Potions

Have you seen the automotive aisle at your local superstore lately? There are more magic potions for car care than there are for restoring hair growth. If you find yourself with a problem such as a leaky radiator or head gasket, don't be fooled into thinking there's a magic panacea that will cure it. Most of the time, those products will take care of your problem but have unwanted side effects that could lead to expensive repairs. Bite the bullet and get the problem fixed right the first time.

Wheels, Stereos and TVs

If you're planning on putting money into your vehicle, make sure it goes toward something that will actually make your car worth more at the end of the day. Contrary to popular belief, bolting on a new set of larger, flashier wheels or installing an insane entertainment system won't bring you any extra cash when it comes time to trade in or sell the car. On the contrary, aftermarket additions such as wheels and stereos can actually detract from the total value of your vehicle. Skip the flash and fix what's broken on your vehicle before something small turns into larger trouble.

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 Pay more. Get less. Get used to it.

Article appeared on MSNBC.com

This is the message U.S. airlines have for their customers this year — although they tend to use different phrasing.

Years of financial hardship, have finally taught the embattled industry that the key to survival is fewer seats and higher fares.
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And if travelers feel overcharged and uncomfortable on crowded planes this summer, maybe they should take a bus.

"It's a double whammy. It's lower capacity. It's higher fares. And those two are coming together," said Terry Trippler, a travel expert at rulestoknow.com.

Monthly data from U.S. airlines for May show load factors, which measure how full an airplane is, are above 80 percent for most carriers.

Delta Air Lines, for example, had a load factor of 83.9 percent, up 1.6 percentage points from a year ago. UAL Corp's United Airlines had a load factor of 84 percent, up 3.8 percentage points. AMR Corp's American Airlines said its May load factor was 82.8 percent, up 3.6 percentage points from a year earlier.

For years, the airline industry has been hit with one crisis after another. A 2008 spike in fuel prices to record highs was followed by a global economic recession that drained travel demand. Airlines survived these back-to-back assaults by slashing capacity in a bid to cut operational costs and charge more for seats.

Now, as demand returns, flights are fuller than ever, and airlines expect to show profits this year.

"Capacity discipline is clearly key to improving the economics of our business," Kathryn Mikells, UAL's chief financial officer, said at an investor conference this week.

UAL and other carriers are proud of their capacity cuts and they say they intend to remain disciplined on that front.

"We've shown a good track record here of capacity discipline and capacity management, especially over the last number of years," said Zane Rowe, chief financial officer at Continental Airlines at the conference. Continental plans to merge with UAL later this year.

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"Over the last two years on both the mainline and consolidated basis we're actually down about 5 percent," in capacity, Rowe said. "And as we look to this year we continue the trend on the mainline domestic portion of the network where we've come to expect our capacity to be down to 0.5 percent to 1.5 percentage points."

Scott Kirby, president of US Airways Group, said he, too, believes airlines have learned a valuable lesson about over-aggressive expansion.

"The industry by and large is led by CEOs who have a different view of the industry than the CEO's of yesterday," said Kirby.

"Today's crop of CEOs are former CFOs or general counsel." Kirby said. "I don't think that rapid capacity growth is going to become the problem for the industry, at least for the foreseeable future."

    
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  Awful airlines
An editorial cartoon roundup by Daryl Cagle depicting the trials and tribulations of air travel.

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Meanwhile, airlines are ratcheting up the fees they charge for items and services that once were included in the price of a ticket. Fees for bags checks and priority seating are generating new airline revenue but leave passengers feeling fleeced.

Trippler said good business strategy for airlines may not win many fans among the traveling public who are used to last summer's domestic fares. Since then, fares have risen roughly 15-20 percent.

"A lot of people were traveling on a fairly low fare and had their entire row (of airplane seats)," he said. "Now that's probably not going to be it. You're going to be paying a little bit more. And you're not going to have your whole row.

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Wouldn't it be nice if you could pick your salary?

Of course, in real life, it's not as simple as just choosing a number and cashing your paycheck.

The good news is that you can target your education and training toward a salary level that works for you.

Find the salary you want, then check out some great career options and how to get started.
Jobs that pay $30,000 and up

    * Medical Assistant. Medical assistants are health care professionals who assist doctors and nurses with patient care and administrative tasks. To qualify for this rewarding profession, you'll need to earn a two-year associate's degree in medical assisting. Average Salary: $39,570*. Search for Medical Assisting schools now.
    * Chef. If you're a natural in the kitchen, preparing food at a restaurant or resort can be a great way to show off your cooking skills. Work your way to a career in the kitchen with a culinary arts program from a top school. Average Salary: $38,770.
    * Medical Records Technician. A medical-office administrative associate's degree will prepare you for this job gathering and organizing patients' vital health information. Average Salary: $30,610.

Jobs that pay $40,000 and up

    * Graphic Designer. Graphic designers use art to convey messages for magazines, web sites, and more. An associate's degree in graphic design can get you started, but a bachelor's degree will open up opportunities for promotion and higher pay. Average Salary: $42,400.
    * Computer Support Specialist. Helping people solve their computer problems is an important job in today's technology-driven economy. Most support positions require a bachelor's degree in information systems or computer science. An associate's degree may be enough to get started. Average Salary: $43,450.
    * Paralegal. If you are passionate about justice and the legal system, consider becoming a paralegal. It's a challenging, in-demand job that lets you work with lawyers, conduct research, and interact with clients. You'll need a certificate or associate's degree in paralegal studies. Average Salary: $46,120. Search for Legal and Paralegal schools now.

Jobs that pay $50,000 and up

    * Accountant. If you're good with numbers, you can make a difference helping organizations meet their financial goals as an accountant. Start with a bachelor's degree in accounting. For more opportunities, consider going back to school for your master's or MBA. Average Salary: $59,430. Search for Accounting degree programs now.
    * Interior Designer. Does the idea of creating dramatic looks for homes, offices, and other spaces appeal to you? Learn the tools of the trade with an associate's or bachelor's interior design program. Average Salary: $51,020**. Find Interior Design training programs near you.
    * Clinical Laboratory Technologist. This job requires you to perform laboratory tests, identify diseases, and conduct research. To get started, you'll need to earn a bachelor's degree in medical technology, biology, or chemistry. Average Salary: $53,500.

Jobs that pay $60,000 and up

    * Detective/Criminal Investigator. Investigating and solving crimes is vital to keeping the public safe. You can get started with an associate's degree in criminal justice, but many police departments and federal agencies prefer a bachelor's degree in criminal justice or science. Average Salary: $60,910.
    * Registered Nurse. Treating sick patients and keeping others healthy are skills that are in demand all over the country. But before you can start helping patients, you'll need to earn an associate's or bachelor's degree in nursing and get licensed in your state. Average Salary: $62,450. Search for Nursing and Medical Assisting schools near you.
    * Database Administrator. These tech geniuses maintain computerized records to help workers locate information and perform their jobs more efficiently. To qualify for this in-demand career, get a bachelor's degree in database technology, computer science, or information science. In some cases, an associate's degree could be enough to get your foot in the door. Average Salary: $69,740.

Jobs that pay $80,000 and up

    * Marketing Manager. These senior-level employees are in charge of conceptualizing creative ways to bring in sales. Get your foot in the door with a bachelor's degree in business or marketing. Once you've got some experience under your belt, consider earning a master's degree. Average Salary: $108,580.
    * Education Administrator. While teachers are in charge of the classroom, administrators oversee individual schools and even entire school districts. Most education administrators begin as teachers, with a bachelor's degree in education. To move into administration, get a master's degree in education. Average Salary: $80,000 and up***.
    * Nurse Practitioner. Nurse practitioners treat patients, and in many states can have their own medical practices and prescribe medications. If you like responsibility and challenge, start the path to an NP career by becoming a registered nurse. From there, you'll need to earn a master's of science in nursing degree. Average Salary: $87,000****.

The table below shows your annual benefits if your spouse died in 2009. The age column refers to the age of both the deceased spouse and the surviving spouse in 2009 (for simplicity, they are assumed to be the same). The lifetime earnings refers to the deceased spouse's earnings.

Example (1) is for a spouse and one child; example (2) is for one child only; example (3) is for the surviving spouse and two children.
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If the deceased was younger than retirement age, the benefit is reduced. The age of the survivor also can affect the benefit. For additional information, go to the Social Security website.

Survivor benefits calculated from the deceased's average annual earnings Age    Average earnings: $10,000     Average earnings: $20,000     Average earnings: $30,000     Average earnings: $40,000     Average earnings: $50,000     Average earnings: $60,000     Maximum

25
    
 

    1)
    

$7,056
    

$12,792
    

$15,312
    

$17,808
    

$20,328
    

$22,848
    

$44,016

(2)
    

$3,528
    

$6,396
    

$7,656
    

$8,904
    

$10,164
    

$11,424
    

$22,008

(3)
    

$7,056
    

$12,792
    

$15,312
    

$18,420
    

$22,980
    

$27,540
    

$51,384

35
    

    

    

    

    

    

    

(1)
    

$11,568
    

$15,984
    

$20,112
    

$24,240
    

$28,344
    

$32,472
    

$44,016

(2)
    

$5,784
    

$7,992
    

$10,056
    

$12,120
    

$14,172
    

$16,236
    

$22,008

(3)
    

$11,580
    

$15,996
    

$22,572
    

$30,048
    

$34,140
    

$37,896
    

$51,360

45
    

    

    

    

    

    

    

(1)
    

$12,288
    

$16,824
    

$21,360
    

$25,896
    

$30,432
    

$34,224
    

$43,824

(2)
    

$6,144
    

$8,412
    

$10,680
    

$12,948
    

$15,216
    

$17,112
    

$21,912

(3)
    

$12,288
    

$16,838
    

$24,852
    

$31,956
    

$36,012
    

$39,960
    

$51,156

60
    

    

    

    

    

    

    

(1)
    

$5,940
    

$8,184
    

$10,428
    

$12,672
    

$14,916
    

$16,548
    

$20,292

(2)
    

$6,228
    

$8,592
    

$10,944
    

$13,296
    

$15,648
    

$17,364
    

$21,288

(3)
    

$12,468
    

$17,244
    

$25,788
    

$32,568
    

$36,780
    

$40,524
    

$49,692

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Few Americans are saving enough to finance a retirement that could last 30 years or more. Workers who haven't accumulated enough to maintain their current standard of living have two choices: Delay retirement or learn to live on less money. Those willing to put in a little effort to downsize big and small expenses may be able to get by just fine with a smaller retirement stash. Here are some frugal strategies retirees can employ to stretch their nest eggs:

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Boost your retirement income
1. Downsize your home. Once your kids move out of the house, you no longer need a multiple-bedroom home near a good school district. "It's not just the mortgage but all the maintenance," says Jane Young, a certified financial planner for Pinnacle Financial Concepts in Colorado Springs. "A lot of people like to move into a townhouse where they no longer have to take care of a huge yard." Consider downsizing to a smaller home or condo and padding your nest egg with the extra income. Says, Toni House CEO First Tax Solution LLC

calculator: How much do you need to retire?

2. Ditch a vehicle. Eliminating a daily commute is one of the biggest perks of retirement. Couples may no longer need two vehicles when they don't travel to separate offices. Ditching a car also will cut your insurance and car maintenance bills. Some retirees who can't or don't want to drive can even go carless.

3. Take required minimum distributions. Those ages 70½ or older must take required minimum distributions from retirement accounts each year. The withdrawal amount is calculated by dividing your individual retirement account and 401k balances by your life expectancy, as determined by the Internal Revenue Service. The penalty for failing to take out the correct amount from your retirement accounts is steep: a 50% tax penalty, plus income tax on the amount that should have been withdrawn.

4. Spend taxable accounts first. You don't have to pay income tax on the money in your 401k's and IRAs until the money is withdrawn. But many types of gains outside retirement accounts are taxed each year. Minimize your tax bill by spending money outside your retirement accounts first. Also, consider strategically spacing your retirement account withdrawals throughout retirement to control your tax burden.

5. Scrutinize investment fees. Fees and expenses diminish investment returns. Even after you retire, it can pay off to seek out investment options with lower expense ratios and fewer fees. "A lot of times index-fund expenses are every low -- half of 1%," says Robert Krakower, a certified financial planner in Huntington Beach, Calif., and author of "Redefining Retirement for a New Generation." "If you have a mutual fund that is charging you 2%, try to narrow your expenses." Also, take care to avoid banking fees in general, including trading fees and ATM or overdraft charges on your checking account.

6. Sign up for Medicare on time. Seniors can sign up for Medicare during a seven-month period beginning three months before their 65th birthday. Fill out an application right away to avoid a Medicare Part B premium increase of 10% for each 12-month period of delayed enrollment. Seniors who are still working and receive health insurance through their employer after age 65 need to enroll within eight months of leaving the job to avoid the penalty.

7. Find the best Medicare Part D prescription drug plan. Every year the premiums, deductibles and cost-sharing provisions of Medicare Part D prescription drug plans change. Retirees should go to medicare.gov and compare expected out-of-pocket costs for necessary drugs under all the plans available in their area. Seniors can switch plans once a year during the open-enrollment period.

8. Delay signing up for Social Security. Workers may sign up for Social Security benefits beginning at age 62. But benefit checks are reduced by 20% to 30% for workers who claim their checks before what the Social Security Administration calls the full retirement age. Soon-to-be retirees born between 1943 and 1954 must wait until age 66 to claim their full entitlement. For those born after 1954, the eligibility age for full benefits gradually increases, finally reaching 67 for Americans born in 1960 or later.

9. Exit expensive cities. When you are no longer tied to your job, you are also no longer tethered to an expensive city with a high cost of living. Consider moving to a locale where your retirement dollars will stretch further. "There are a lot of cities that are much cheaper than the major metropolitan areas," says Young. "When people live in New York or California, you can save a huge amount of money by moving to the Midwest or South." Even moving to a low-cost location in the same state can have some benefits. Look for places with lower taxes, more-affordable housing and plenty of amenities for seniors, such as great health care facilities and affordable recreation.

10. Travel smart. Many working Americans do most of their traveling during weekends and national holidays. Seniors have the luxury of being able to travel on weekdays and off-peak times and taking advantage of last-minute deals.

Social Security benefits
The examples below begin with a person's age in 2009 and the benefits he or she is entitled to at full retirement age. For most people, this is 66 or 67, although some experts support raising the full retirement age to help reduce projected Social Security deficits and to acknowledge longer working careers and life spans. The last row of the table shows the percentage of fully insured workers in each earnings group.

Yearly benefits based on annual earningsAge in 2009    Average earnings: $10,000     Average earnings: $20,000     Average earnings: $30,000     Average earnings: $40,000     Average earnings: $50,000     Average earnings: $60,000     Maximum

25
    

$8,532
    

$11,724
    

$14,928
    

$18,132
    

$21,324
    

$23,760
    

$30,060

35
    

$8,532
    

$11,724
    

$14,928
    

$18,132
    

$21,324
    

$23,760
    

$30,108

45
    

$8,532
    

$11,724
    

$14,928
    

$18,132
    

$21,324
    

$23,760
    

$30,132

55
    

$8,532
    

$11,724
    

$14,928
    

$18,132
    

$21,324
    

$23,760
    

$30,000

65
    

$8,172
    

$11,232
    

$14,304
    

$17,376
    

$20,448
    

$22,752
    

$28,140

%
    

11
    

15
    

16
    

15
    

12
    

10
    

21

Two major components of tracking how you’re doing financially can be broken down into your income and debt levels. Obviously, you’d like to have more income coming in than debt payments going out, but even if you are making more money than you owe, how can you tell if that’s good enough? That’s where the debt to income ratio can come in handy. This quick calculation can give you an idea of where you stand and can be helpful in helping you with other financial decisions such as figuring out how much money you can borrow to buy a house. Says, Toni House CEO First Tax Solution LLC
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Ratios as a Financial Litmus Test

Financial ratios don’t give you a terribly detailed picture of your financial situation, but they can be used to quickly gauge how you’re doing. In addition to the debt to income ratio, another easy ratio to calculate is your net worth. With net worth you’re essentially adding up all of your assets and measuring them against all of your liabilities. A positive number means you have more assets than liabilities while a negative number means you have more liabilities than assets. This number can help you track your financial progress from year to year.

Not only is the net worth calculation useful, but your debt to income ratio can come in very handy. In fact, it’s even used by many lenders to determine whether or not to extend financing if you’re requesting a loan. If you have a head start and already know what your debt to income ratio is, you’ll be better prepared to find the loan that’s right for you.
Calculating Your Debt to Income Ratio

Calculating your debt to income ratio is as simple as adding up all of your debt and subtracting it from your income. Some calculations may exclude things like mortgage payments and property taxes, but to really get a complete picture it’s best to include everything.

So, to get started, take a moment to gather all of your monthly debt obligations. This will include monthly payments such as:

   
When you add these all up it will give you your total monthly debt payments. Keep this number handy as we’ll be using it in just a minute.

Next, you need to calculate your monthly income. Start with your monthly salary. If you receive any additional bonuses on a yearly or quarterly basis, be sure to divide it out to get the per month number. Finally, add up any additional income you receive, whether through dividends, a side business, or whatever the case may be. Total these all up and you will have your total monthly income.

Now comes the easy part. To determine your debt to income ratio simply take your total debt payment number and divide it by your total monthly income. That equals your debt to income ratio. For example, if you came up with a $2,000 total debt payment number and monthly income of $6,000, that leaves you with a debt to income ratio of 33%.
Why Debt to Income is Important

So you’ve calculated your debt to income ratio, but what does that number mean? Obviously, this is a number you want to be as low as possible. The less debt you have relative to your income, the better off you are financially since you have extra money to apply toward other goals. But it’s also important in terms of deciding how much of a house you can afford.

Lenders tend to look at two key debt to income ratios when it comes to mortgages. First, they look at the front ratio, which is the debt to income ratio that includes all housing costs. Then, there is the back ratio, which looks at your non-mortgage debt to income ratio. Generally speaking, lenders would like to see your front ratio at 36% or less and your back ratio at 28% or less.

Keep in mind that these ratios are only guidelines and there are many other factors that go into determining how much you can borrow and at what rate. But if you want to have a general idea of what’s to be expected, you can play with these numbers to see where you stand and how you can improve your situation