Volume 2, Issue 1
 
January 2008

IN THIS EDITION
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Financial News

Attend a Financial Fitness Workshop in January!

Monthly guide to making money

Get financial literacy news through RSS

VSCPA wins award for Financial Fitness initiative

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Financial
Literacy Resources

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Financial Tips

Attend a Financial Fitness Workshop in January! Top

Hurry! Time is running out to register for the winter series of Financial Fitness Workshops! Hosted by the Virginia Society of Certified Public Accountants (VSCPA), this free seminar is being led by an experienced CPA and addresses multiple money management topics for a variety of audiences.

This fast-paced workshop provide practical tips for eliminating debt, saving, rebalancing your retirement portfolio, organizing your financial records, creating a will, reviewing your insurance coverage, planning for the unexpected and more. Make good financial management a New Year's resolution you can keep by registering for this workshop today! To reserve your seat, please RSVP using the links below or call (800) 341-8189.

New Year's Financial Resolutions
Date: Friday, January 18, 2008
Time: 11 a.m. – 1:30 p.m.
Location: VA Beach Central Library, 4100 Virginia Beach Blvd, Virginia Beach, Va.
Lunch: Light snacks and beverages will be provided.
Discussion leader: Stephanie Saunders, CPA, Saunders & Saunders, PC
Register online now!

Monthly guide to making money Top

A new year is the time for diets, exercise and, of course, budgets! It's a time for new beginnings, fresh starts. Instead of tackling huge goals that feel tough to reach, break them into manageable tasks to increase your odds of success. Money magazine offers monthly budgeting tips to help you reach your financial goals in 2008. Each month focuses on a different strategy to get your finances in shape:

  • January — Weigh your goals for 2008
  • February — Put your savings on autopilot
  • March — Pay less taxes
  • April — Simplify your investments
  • May — Protect your home
  • June — Stop fee madness
  • July — Do a mid-year checkup
  • August — Get new ideas
  • September — Get ready for school
  • October — Cut your health care costs
  • November — Have the talk
  • December — Share the wealth
Get financial literacy news through RSS Top

Do you search every news and business Web site bookmarked on your Internet browser for financial news and tips? If so, you may be wasting hours of otherwise productive work time. To save you time and brain power, the VSCPA now offers an RSS feed for financial news!

RSS stands for "really simple syndication," and, once you subscribe, it allows you to receive alerts that your favorite Web sites, such as FinancialFitness.org, have new content. Instead of individually visiting all those sites to read the information, you can view that information via an RSS feed reader, or "aggregator," right on your desktop.

Read more about RSS on the VSCPA Web site, or sign up for the Financial Fitness RSS feed now!

Need help? We'll be happy to answer any questions you may have about the VSCPA's Financial Fitness RSS feed. Contact VSCPA Media & Public Relations Specialist Shawnte Reynolds at (800) 733-8272.

VSCPA wins award for Financial Fitness initiative Top

The VSCPA was honored for its Financial Fitness community service initiative in the 2007 Best in Virginia Awards, sponsored by the Richmond Chapter of the International Association of Business Communicators (IABC). Awards were announced at a special dinner held in December.

The VSCPA received Honorable Mention in the community relations category for its financial literacy initiative called Financial Fitness — Improving the Financial Health of Virginians. The campaign is part of a national effort of the CPA profession to educate all Virginians — from school children to retirees — on money management and fiscal responsibility topics.

Through Financial Fitness, Virginia CPAs provide pro bono outreach to the public through year-round financial workshops, a Speakers Bureau, community service events, free wall calendar and other special publications. The VSCPA also served as the catalyst for the Governor's Proclamation naming April as Virginia Financial Literacy Month and manages a consumer Web site, www.FinancialFitness.org, to serve as a clearinghouse of financial resources.

For more information about Financial Fitness, please contact VSCPA Media & Public Relations Specialist Shawnte Reynolds at (800) 733-8272.

Consumer Articles Top

The VSCPA develops monthly Money Management articles to provide financial advice and information for individuals and small businesses. Topics include personal finance, retirement and estate planning, saving for college, investments, running a small business, income taxes and more. Virginia organizations are granted reprint permission and can use the articles in publications, employee newsletters, Web sites and more. Here are this month's topics:

Keep your financial resolutions this year
Paying off debt and saving money are among the most popular New Year's resolutions. Here are some helpful tips for those who want to meet their financial objectives in the coming months.

Five steps to achieving your financial goals
What are your financial aspirations for the coming year? Would you like to pay off some high-interest debt? Step up your retirement savings? Set aside enough for an exciting vacation? Read these recommended steps to turn your financial dreams into realistic goals.


Tax-deductible donations: what you need to know
Americans donated an estimated $295 billion to different charities in 2006. This generosity allows you to make a difference to a wide range of worthy causes and qualifies you to take tax deductions for your donations. Read some recent changes in tax legislation that affect which deductions you are allowed to claim.


Tax-smart retirement planning
Employers are increasingly shifting the responsibility for retirement savings to employees. That means that workers must take an active role in planning — and saving — for their retirement. Learn about the tax-advantaged options that can enhance the growth and earnings power of your retirement nest egg.
Start the year with a 2008 Financial Fitness Calendar! Top

As you strive to improve you financial health, let the VSCPA help you stay on track this year with the 2008 Financial Fitness Calendar! This award-winning calendar includes year-round financial advice, important financial dates to remember, definitions of financial terms and more. Request your free copy by e-mailing financialfitness@vscpa.com, or download a copy online at www.FinancialFitness.org.

Spotlight on America Saves Top

America Saves is a nationwide campaign in which a broad coalition of nonprofit, corporate and government groups helps individuals and families save and build wealth. Through information, advice and encouragement, the organization assists individuals with paying down debt, building an emergency fund, saving for a home, saving for education or saving for retirement. America Saves offers several online resources, including a personal wealth estimator, newsletter, savings links and tips, and a list of savings strategies. Find out about the programs and resources offered by America Saves.

Managing credit card debt Top

If you have debt on multiple credit cards, strive to pay off one balance at a time. When fully paid off, cut up and cancel the card. Continue this process until you have only one credit card left in your wallet. This can help you avoid accruing large amounts of credit card debt in the future. Getting yourself out of debt is one of the first steps to saving for a successful financial future.

Listen to a Feed the Pig™ Podcast about managing credit card debt at feedthepig.podomatic.com. Or, find more helpful hints to save money at www.FeedthePig.org.
Source: American Institute of CPAs



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Virginia Society of CPAs | P.O. Box 4620, Glen Allen, VA 23058-4620 | (800) 733-8272
www.financialfitness.org
VSCPA Financial Fitness | (800) 733-8272