This section of the toolkit seeks to provide journalists with sources of information on the financial issues that touch most people's daily lives. An individual's financial life is made up of many moving parts, from tax bills and credit cards to home mortgages and retirement plans. Although the elements are fairly common, they often remain mysterious.
Examine issues at every stage of life - The financial challenges people face change as they age, marry, buy homes, have kids, start businesses or retire.
TAXATION - A number of sources outline Pennsylvania's tax system.
Information geared toward newcomers
Department of Revenue
Bankrate
Pennsylvania Economy League
Internal Revenue Service - presenting information on federal taxes
Explanation of local taxes
Department of Revenue
Pennsylvania Department of Community and Economic Development
Pennsylvania Economy League
HOME/REAL ESTATE - The biggest purchase that most people make is a home.
Department of Housing and Urban Development
National Association of Home Builders
Yahoo!
American Institute of CPAs
Current and Historical Data on Mortgage Interest Rates
Mortgage Bankers Association
Freddie Mac
Housing market
Equity line of credit
Reverse Mortgages
AARP
Department of Housing and Urban Development
HECM Resources
PAYING FOR EDUCATION - Next to a house, a college education is one of the most expensive things people can buy
Tips on saving for college and finding financial aid
Savingforcollege
Finaid
Dealing with college debt
529 Plans
National Association of Securities Dealers
Pennsylvania's Tuition Assistance Program (TAP 529) - Pa.'s version of 529 allow families to invest in stocks and bonds in order to save money for college without paying taxes on the gains
PHEAA
CREDIT AND BORROWING
Credit Scores - Credit scores determine the interest rates people pay when they borrow money. The higher the score, the lower the rate.
Information on credit scores
FICO
Bankrate
True Credit
Federal Reserve
Free Credit Report
Credit Bureaus - The three credit bureaus whose records go into people's credit scores are:
Equifax
Experian
Transunion
Credit/Debit Cards - Credit and debit cards increasingly are replacing cash as the way people pay for things. Debit cards work much like cash, in that money is taken out immediately from a bank account. Credit cards can be trickier. People don't have to pay debts back all at once and many people find the debt piling up quickly.
Choosing credit cards - The Federal Reserve, Federal Trade Commission, CardRatings.com
Interest Rates - Federal Reserve Bank of Chicago, Federal Reserve Bank of New York
Statistics about credit cards and debt - Federal Reserve's Survey of Consumer Finances, myFico
BANKING - The government makes public a wealth of information about banks and credit unions, from quarterly profits to the number of branches.
Information on banks
Information on credit unions
Pennsylvania Department of Banking
CARS - A car or truck is a typical person's next largest purchase. People can choose to lease or buy.
Federal Reserve
Automotive.com
INSURANCE - The goal of insurance is to protect people from the high cost of unexpected events such as a fire, car crash or serious illness.
Basic Information
Insurance Information Institute
Pennsylvania Department of Insurance
Consumer Information
Commonwealth of Pennsylvania Insurance Department
Georgetown University Health Policy Institute
Yahoo! Finance
Health savings accounts
Insurance Company Information
Basic information
A.M. Best - gauges the ability of insurers to pay customer claims
BANKRUPTCY - Bankruptcy is a fact of life for hundreds of thousands of Americans, as well as for many companies.
Basic Information
American Institute of CPAs
American Bankruptcy Institute
Meaning and types of bankruptcy
National Association for Consumer Bankruptcy Attorneys
Corporate Bankruptcies
InterNet Bankruptcy Library
U.S. Securities and Exchange Commission
INVESTING AND RETIREMENT - More and more, Americans are expected to provide for their own retirement. In general, that means saving and investing money while you are still working.
Basic Information
IRS
Employee Benefits Research Institute
National Association of Securities Dealers - regulates segments of the investment industry
401(k)
Investment Terms
Yahoo! Finance
Smart Money
Motley Fool
Annuities
IDENTITY THEFT AND INVESTMENT SCAMS - Thousands of Americans fall victim every year to identity theft and investment scams. The scams are constantly evolving, so it takes effort to keep track of them.
General Security Information
Electronic Privacy Information Center
Center for Identity Management and Information Protection at Utica College in New York
Attorney General
Pennsylvania Securities Commission
Scams
Federal Citizen Information Center
SEC
Identity Theft
