(CBS News) 

If you’re looking for the perfect credit card, don’t just focus on the interest rate: It’s the perks that make the difference.

On “The Early Show” Monday, Lynnette Khalfani-Cox, author of “Perfect Credit” and founder of the free financial advice blog “Ask The Money Coach,” spotlighted cards she says are the best for your lifestyle, in large part depending on which stage of life you’re in.

Khalfani-Cox says most people just look at the interest rate right off the top when selecting a card. But, she points out, you really have to go well beyond that in choosing one. You have to think about how you’ll actually be using the card in your life. What benefits will you be getting? What does it have to do, or does it fit with your lifestyle? Do you have to pay off the balance all at once, or can you pay it down from month-to-month? All these things are important to pay attention to, given where you are in life.

COLLEGE GRADS

You really want to make a great start to your credit in terms of managing your debt wisely, and you don’t want to get into the habit of using it solely for convenience. The first thing to do is to separate your needs from your wants. So, when you’re looking for the right card, it pays to think, “What can I reasonably pay off every single month? Am I going to be using this on beer and pizza runs or on furniture, electronic and travel?” Think about the long term effects of your charges, so you don’t rack up debt.

I recommend three:

The first is the Orchard Bank Classic Mastercard. It has a low APR (a variable rate of 7.9 percent), and a lot of great features to keep you on track. The card offers e-mail and text message reminders to pay your bills and stay within your credit limit, regular credit bureau updates that enable college grads to build credit quickly. and customer service by phone and the web that enables grads to track purchases and maintain a budget.

The second one I’d recommend is for people who are trying to furnish their first apartment. I’s the SONY card from Capital One. It’s great because you get the maximum bang for your buck in terms of spending. First, you get a 0 percent APR for up to 10 months, which is great to start with. Any electronics or gadgets you buy earn you bonus points, so it’s great for a young adult who wants to buy a new entertainment center, and you get extra bonus points on any SONY purchases.

The third one is really for the college grad who’s interested in going out there hitting movies, dining out a lot and generally being social. The CITI Forward card is good for that, since you earn bonus rewards points wherever people congregate socially — like bookstores, restaurants, etc. If you go out and charge those expenses on the card, you’re automatically maximizing its value in points. In addition, if you go paperless and sign up for online bill payments, you get extra points. The rewards points can then be used at the same places you’re going out. Not only will they give you coupons to those places, but discounts, as well.

NEWLYWEDS

Anybody who recently got married knows getting married is super-expensive. The average wedding in the U.S. costs about $25,000 and, more often than not, a lot of people who walk down the aisle put their wedding tab on their credit cards. You don’t want to start out your married life with big financial bills that can lead to arguments and even worse. I would emphasize choosing cards that give you plenty of time to pay off your bills.

I recommend two:

The Discover More card is great because it does two things. First, if you want to use if for the wedding expenses themselves, you have an automatic 6-month 0 percent APR on all new purchases. If, however, you used a different card and didn’t have this one, you can do a balance transfer to it and for 18 months, you’ll get a 0 percent APR, so you have a year-and-a-half to pay off the photographer, reception, limo rental, you name it. It gives you a lot of time to pay off your balance.

If you’re eligible for the PenFed Promise Visa card, it’s another great one for newlyweds for a number of reasons. Top qualify, you must be a United States Government employee, member of the United States Military and Uniformed Services, employee or volunteer of the American Red Cross, member of the National Military Family Association, or a family member/housemate of a current PenFed member. First, it’s a credit union offer, which is credit owned and operated by its members. So, if you don’t qualify for this one in particular, you should look into other credit union offers that you do qualify for. With the average credit card rate at about 15 percent, the PenFed Promise Visa card offers an APR of 7.49 percent for all purchases, and if you do a balance transfer, offers a 4.99 percent APR, which lasts for three years. The other big thing about this card is that you’re not going to get nickled and dimed using it. It has no late fees, additional fees or annual fees. It’s a really good card for people who are tired of big banks who charge additional fees on regular activities. For couples who are just starting out, invariably, there are things that you have to buy for your house that you don’t get off of your registry in the first couple of years, and this will give you a 3 year time period to pay things down with a low APR. It gives you a good head start.

For years, renters who got behind on their housing payments could do so without worrying about the impact that a late payment would have on their credit rating.

Next year that’s going to change.

One of the big three credit bureaus, Experian, recently began collecting data about consumer rental payments and including that data in its credit reports.

For 2011, Experian is only reporting positive rental payment information about consumers. But starting in 2012, Experian will also keep tabs on and report negative information too, such as late rent payments.

“Given that one-third of the U.S. population rents, we felt it was imperative to reflect the true creditworthiness of those individuals who responsibly pay their rent,” Brannan Johnston, vice president and managing director, Experian RentBureau, said in a statement.

RentBureau is the largest and most widely used credit bureau for the multifamily industry. A national network of 45 property companies – including large apartment owners and managers – collect data about rental payments and, in turn, automatically report that payment history to RentBureau every 24 hours.

Experian acquired RentBureau in 2010.

Although Experian has become the first credit bureau to make rental payment info a part of its data, my guess is it won’t be the last.

At the very least, other credit bureaus and credit-scoring companies are sure to at least examine whether the inclusion of rental payment history could improve their credit-scoring models.

Calls seeking comment from Equifax and TransUnion weren’t immediately returned. Meanwhile, a spokesperson for FICO — creator of the widely-used FICO credit score — has been quoted in the Baltimore Sun as saying that the issue of including rental payments in FICO’s data has to be examined to see if such data is predictive of credit risk.

The Upside to Rental Information in Credit Reports

Although some consumers may fret over Experian including rental payment information in its files, those who pay their rent on time shouldn’t be alarmed.

Some industry experts say the inclusion of rental payment data in credit files is actually an enormously positive development for consumers — because it will help banks and other lenders see which consumers are actually quite credit-worthy, even if those individuals don’t yet have traditional forms of credit, like credit cards or mortgages.

“We believe that this is a real breakthrough,” says Barrett Burns, CEO of VantageScore Solutions. “It’s especially great for first-time homebuyer applicants and those trying to establish credit because rent is most likely their biggest obligation.”

The VantageScore is a credit score growing in popularity which ranks consumers with a letter grade of A to F, and also on a scale of 501 to 990 points.

“Our belief was that rent payments were very predictive, so we included that in our (credit-scoring) model from the very beginning,” Burns said. However, “the volume of data was insignificant,” he added, because so it was tough to get landlords to supply data to the credit bureaus.

Landlords often balked at supplying rental information to the big three credit bureaus for several reasons. First, many landlords didn’t like adhering to the rigid data-formatting process required to upload payment data to the credit bureaus. Additionally, landlords are required to update information monthly, to ensure reporting consistently. And landlords must also be willing to be audited in order to furnish data to the bureaus.

So in the past, the only type of rental payment data that the credit bureaus received was the really negative rental behavior – like evictions or collections. For those people paying rent on time, having a good payment track record previously did absolutely nothing for their credit since such payments mostly hadn’t been tracked and recorded. (Some companies tried to capture this so-called “non-traditional” data, but without much widespread success).

Now landlords, apartment owners and property managers have an enormous incentive to supply all types of payment history. Why? Those landlords will be able to essentially tap into RentBureau’s database and see which rental applicants are good credit risks – and which aren’t. The upshot for landlords, therefore, is that they can reduce their risk of approving tenants who might skip out on the rent, write bad checks, damage property, or ultimately get evicted.

For consumers, the addition of this new rental data could help tens of millions of consumers – from recent college graduates and immigrants to women and widows — build their credit ratings and credit scores. Currently, there are approximately 50 million such people in the U.S. who have either no credit files or “thin” credit files.

According to the National Multi-Housing Council, there are 96 million renters in the U.S. who aren’t getting the credit they deserve because their rental payment data hasn’t been accounted for. RentBureau tracks the payment histories of about 8 million renters.

“My guess,” says Burns, “is that those 8 million consumers are only the beginning.”

Check out AOL Real Estate’s Rental Listings

Have you ever wondered how to establish financial boundaries with relatives and friends? If so, you’re not alone.

As a Money Coach, I’m constantly asked for suggestions on how to put an end to the money-draining behavior of family members and friends.

Well, this may come as a shock to many of you who keep getting approached for financial handouts, but the problem isn’t the person asking for money. The problem is you: the person who keeps doling out the cash, over and over, vainly hoping that it will be the last time.

In truth, that “last time” will never come. To truly help someone fix their financial woes, as well as keep your own finances own track, it’s often necessary to get rid of certain people in your life – at least your financial life.

Unfortunately, too many of us don’t know how to say “no” when necessary.

No to grown, able-bodied freeloaders who try to take advantage of you or make you feel guilty because, in their mind, you “have money to spare.”

No to schemers who concoct one cockamamie business idea after another and expect you to continually invest good money after bad in their failed efforts.

No to dreamers who have big plans to go back to school, start a business, or fulfill some other lifelong dream (with your money, of course), but then never follow through on those plans.

No to individuals who sport new clothes and jewelry every time you see them, but for some reason can’t seem to pay their car note, rent or gas bill on time and then expect you to bail them out of one crisis after another.

No to deadbeat friends and people who think, in short, that you are their very own personal ATM, bank teller, savings account, and rainy-day fund all rolled up into one.

As harsh as it may seem, you simply need to muster up the courage to just say “No” and you need to establish boundaries when it comes to finances, friends and family.

It’s one thing to help someone out of a one-time jam. But if you have people who rely on you as their “Plan B” or their financial back-up plan whenever something goes wrong in their life, that’s indicative of a financially abusive relationship.

To break this cycle, have a one-on-one conversation with anyone you deem necessary, in which you explain that your days of serving as a piggy bank are over.

Needless to say, you don’t have to be that blunt about it. But, you should be direct enough to tell the person something like this:

“I want to talk to you about finances. I’ve started doing a lot more financial planning and looking at areas where I’m spending money in my personal life. In the past you’ve come to me on a number of occasions for money, and I’ve given it to you, thinking I was helping. But I don’t feel comfortable doing that anymore.

I now see that when I repeatedly give you money, it sends the wrong message — and suggests that you don’t always have to be financially responsible for yourself. The truth of the matter is that you do. I want you to learn proper money management skills and to watch your spending so that you don’t have to turn to me for money.

I want to maintain a close relationship with you. But I also want to establish some boundaries when it comes to money. So please don’t ask for me to pay your bills or loan you money in the future. I hope you understand that I’m not trying to hurt your feelings or offend you. But I need to tell you this for your own good, as well as for my own financial peace of mind.”

Obviously, this is just a sample script. As I explained in my book, The Money Coach’s Guide to Your First Million, you should say whatever comes naturally and whatever is appropriate for your situation.

For example, if the giving or loaning of money has been a two-way street, you should acknowledge that the other party has helped you out financially too, and that you likewise will no longer be relying on that individual economically.

You also should be prepared to be tested. So expect to have to reiterate your message a few times for it to really sink in. And anticipate that you’ll probably have to reinforce this message at the most inopportune time — like when the individual in question is asking you for money again.

But if you don’t stick to your guns, he or she won’t think you are serious and the money-draining cycle will continue in perpetuity.

Ensuring your own financial stability first and foremost is a difficult but necessary part of building wealth. It’s kind of like being on an airplane when the flight attendant gives passengers safety instructions.

They always say that in the event of an emergency you should put your own oxygen mask on first, and then offer assistance to children or others who may require help. The unspoken question behind this practice is: What good will you be to those around you if you lose consciousness or become mentally unstable at high altitudes?

So it is with your finances.

You have to safeguard your money, even if you have a lot of it, in order to maintain financial stability and to be around to help out in the future when you are truly needed.

Do you have an income tax refund check coming your way? So far in 2011, the IRS has issued more than 45 million tax refunds and the average refund was $3,129.

If you’re anticipating a tax refund check this year, it may be tempting to splurge on an expensive high-tech gadget or go on a shopping spree. But in the long run, there are better ways to use that tax refund check — including some ideas on how to have fun, yet still be frugal.

Here are five smart ways to put that tax refund check to good use this year:

1. Invest in Yourself

Enroll in a class or professional development program you’ve been meaning to take for a while, buy that gym membership you’ve been putting off, or go to that business conference you could never previously afford to attend. Using your tax refund check to improve your personal or professional life is a great way to make use of the extra cash.

Even something as simple as hiring a career coach, image consultant or a personal stylist can help you put your best foot forward and feel better about yourself. It may even help you get a promotion or land a new job if you’re seeking employment.

“We all have those professional development goals we hope to accomplish ‘someday’,” says Emily Bennington, founding partner of Professional Studio 365 and co-author of Effective Immediately: How to Fit In, Stand Out, and Move Up at Your First Real Job. “Problem is, ‘someday’ never seems to come around unless you make a commitment. If you use your refund wisely on something that can measurably benefit your career, there’s really no better investment you can make than in yourself.”

2. Pay Off High-Interest Credit Cards

Eliminate high-interest debt by paying off all or a large percentage of your credit card balances.

“I always recommend that people take 10% of a tax refund check and just have fun spending it. But the other 90% should go to paying down debt or saving money,” says Russell Graves, Executive Director of Consumer Credit and Budget Counseling in Marmora, NJ.

Reducing or eliminating debt can boost your credit rating and improve your monthly cash flow. Paying off debt with your tax refund check can also relieve some of the burden of carrying a heavy debt load this year.

3. Save For An Important Goal

Use a big chunk of your tax refund to open a high-yield savings account that will help you achieve an important future goal. For example: are you planning to get married or thinking about buying a home next year? Then create a dedicated savings account to get you closer to reaching those goals.

Seek out a savings account that’s FDIC insured, with a great rate, and that offers flexibility and easy access to your money when you need it. One good option that fits the bill is Capital One’s InterestPlus Online Savings account. It’s currently paying a 1.10% annual percentage yield (APY) on balances of $1,000 or more — way more than the .21% APY national average — making it a great choice for those looking to snag one of the best savings rates available from top national banks. Even better, if you keep a $10,000 average balance in the account or use a Capital One credit card at least once a month, you’ll qualify for a 10% quarterly bonus on interest earned.

4. Make an Extra Mortgage or Car Loan Payment

Pay off that mortgage faster and reduce the balance on that car loan with this year’s tax refund check. Reducing the loan balance on these larger accounts can also reduce your monthly payments, or at least shorten your debt repayment period. Making a larger, lump sum payment toward a mortgage or a car loan payment can also increase your net worth because you will be carrying less debt.

5. Book a Vacation Early

If you’re considering taking a vacation this year, plan as far in advance as possible to get some great deals on airline tickets, cruise packages, hotel rooms and all-inclusive resort vacations. Booking early can save you money and stretch those tax refund check dollars. Take some time to shop around for the best deals and use travel aggregator sites to compare rates on flight and hotel packages.

Even though last-minute travel deals abound, you can often score even better deals when you plan your trip at least three months in advance. Booking early will also give you time to pay off your travel before your getaway, reducing the chance that your vacation will wind up creating lingering credit card bills.

From planning a fun but frugal getaway to investing in yourself, there are several smart ways to use your tax refund check. Use any of these tips to make some wise financial decisions about what to do with your tax refund this year.

What to Do With a Hefty Windfall

It’s everyone’s favorite fantasy: a nice, huge windfall.

Maybe that scratch-off lottery ticket pays off big, or that dusty vase in the attic turns out to be a collector’s item, or that stock you’ve been hoarding turns out to be worth a bundle.

Suddenly you’re sitting on a nice mid-five-figure gift that you weren’t expecting, and that’s after taxes.

Now what?

Facing this envious dilemma, you might want some savvy guidance. With that objective, Bankrate.com asked several financial experts for their advice for managing a hefty windfall.

The 3-Pocket Approach

Karen Altfest, executive vice president of L.J. Altfest Co., a financial planning firm in New York, says to concentrate on three strategies.

“What you’re going to do is think of it as pockets,” she says. “You’ve got three pockets, divide the money in thirds. Take the first pocket and use it to pay down anything that you think should be paid down: your child’s education, your debt, your mortgage. Get rid of something and make your life a little easier.

“Then, save for something in your future — your next car, your vacation, your old age. Third is that you’re a good person. Do something nice for yourself now. A vacation or something special you’ve always wanted,” Altfest says.

Add to Your Emergency Fund

Sandy Shore, counseling supervisor of Novadebt, a nonprofit, credit counseling agency in Freehold, N.J., says start or supplement your emergency fund.

But how do you determine how much to save?

“You have to look at your individual situation,” Shore says. “Is there another income? If one of you became unemployed, how much of a hole would that leave? How secure is your job? If you’re one step away from being unemployed, I would say look at how long you think it would take you to get a job.

“Six months is a pretty good ballpark for most people,” she says.

Add up your monthly bills and obligations (including taxes), and subtract any unemployment you’d receive. Then bank at least that amount. And if you already have some saved, use the windfall to take that savings to your goal amount.

Save and Slash Debt Simultaneously

Dave Jones, president of the Association of Independent Consumer Credit Counseling Agencies in Fairfax, Va., recommends socking away at least $10,000 into a savings account if you have debts but no savings. Then spend the rest to eliminate or pay down your debts, concentrating on your highest interest rate obligations first.

If you have savings and no debt, you could consider low-risk investments, such as a money market fund or other “balanced low-risk fund,” Jones says.

Almost as important is what to avoid: “impulsive spending on inane perishables,” he says.

Take it Step by Step

Lynnette Khalfani-Cox, author of “Zero Debt: The Ultimate Guide to Financial Freedom,” says the best solution is to tackle the problem in a series of steps.

“Get professional financial help. Find a qualified adviser to help you set a budget and do long-term financial planning,” Khalfani-Cox says.

“And give yourself time. Resist the urge to do something – anything — immediately. Don’t feel like you have to do anything at all with the money right away,” she says.

If you decide to invest, plan beforehand. “Be strategic about making any big moves,” Khalfani-Cox says. “Don’t just give in and start buying stocks, bonds or mutual funds without a plan.”

Create a plan to deal with money requests, she says. It takes away the guilt when you want or need to say “no.”

“The idea is to create a buffer between you and all the friends and family who will ask for money,” she says. “Consider using an intermediary — either an individual or an institution — to handle the requests.”

Assess Your Weaknesses

Gail Cunningham, spokeswoman for the National Foundation for Credit Counseling in Silver Spring, Md., advises people to approach a windfall by first looking at areas where you are financially weakest. Then, use your windfall to strengthen your position.

Behind on the mortgage? “The best use might be to catch up,” she says. “This will eliminate late fees, which only add to the balance.”

Paying only the minimums on credit cards? “A good use could be to put the money toward the debt with the highest balance,” she says.

Or, pay off a small bill. “This feeling of accomplishment often encourages a person to keep knocking off bills,” Cunningham says.

If you’re financially stable but without savings, you’re “really on a slippery slope,” she says. Using your windfall to start or augment your savings account could create a safety net for emergencies.

If you’re stable financially, consider splitting the money between one of the above and a personal reward. “Treating yourself to a reward for responsibly handling your money can be an incentive to continuing this behavior,” Cunningham says.

Save It!

Larry Winget, author of “The Idiot Factor: The 10 Ways We Sabotage Our Life, Money, and Business,” says “Don’t buy anything.”

“It’s an opportunity, a real opportunity to fix everything you haven’t been doing right,” he says.

First, pay off your high-interest rate credit card. Then, stash your windfall away. Consumers should create a savings equal to at least three months’ worth of household expenses. Put the rest away for retirement. “That would be the top three things that I would say to do,” Winget says.

“But whatever you do, don’t buy something that’s going to immediately depreciate when you write the check: cars, clothes, food, vacation,” he says.

Credit Cards and Home Repairs

Ron Phipps, president of the National Association of Realtors, says consumers should pay down their credit card debt.

“Simplify your ongoing financial responsibilities. Make life easier. Reduce your overhead,” he says.

After that, look after your No. 1 investment. Focus on needed home repairs or equity-generating improvements, he says. Or, reduce an ongoing expense like your monthly utility bill by installing energy-efficient appliances.

After that, “I’d probably say if it were truly a windfall, I’d find something I’d like to do that I’d enjoy: an arbor, a garden or a spa/whirlpool,” he says.

If your house and your credit card accounts are in good shape, consider buying a rental property. “The goal would be to take that money and leverage it,” Phipps says.

What if Your Financial Picture is Rosy?

If your finances are healthy and this is truly extra money, then remember the 80/20 rule. “Save 80 percent, spend 20 percent,” says Wayne Bogosian, co-author of “The Complete Idiot’s Guide to 401(k) Plans.” “Follow the 80/20 rule and you won’t have any regrets.”

How do you spend it? “Any way you want,” he says. Buy things that last or do some philanthropic giving, he says.

For the savings? Aim to max out IRA and 401(k) contributions for you and your spouse over the coming years, he says.

“If your income is outside the Roth IRA limits, open a nondeductible IRA and immediately convert it to a Roth IRA,” he says. Your objective over the next eight to 10 years should be to deposit all or most of your 80 percent into a Roth IRA and then into a 401(k).

Related Links
Retirement? What Retirement? More Workers Have Gloomy Nest Egg Outlook
7 Rules for a Secure Retirement
Extra Money: Pay off Debt or Use as Down Payment?
Is Your Lifestyle Worth a Million Dollars? 

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“A lot of people think that there’s this magical secret out there that somebody knows,’’ said Bob Hurley, a fee-only investment adviser at Stoddard Management Co. in Rockland. “The long and short of it really is you have to spend less than you take in.’’

Any debt reduction plan should begin with a clear, complete picture of what is owed to whom, according to financial advisers. Go through bills and set up a spreadsheet. Enter the creditor, the amount owed, and the interest rates. Then add it up.

That’s how Melanie Charron, 30, of North Attleborough, got a handle on $10,000 in debt that she ran up on three credit cards. She sat down, tallied her spending, and determined that she had to stop buying on impulse.

“I was getting all the calls from the creditors and I said, ‘How did it get so bad?’ ’’ she recalled.

Once you identify the problem, you can attack it, financial specialists said. You might start with high interest debt, such as credit cards, which typically charge rates of about 14 percent, according to Bankrate.com.

High rates can consume household finances with a speed that catches people by surprise — particularly if they make minimum payments. Paying the minimum can stretch out debt for decades. Charron’s $10,000, for example, would take 25 years to retire said Lynnette Khalfani-Cox, author of “Zero Debt: The Ultimate Guide to Financial Freedom.’’

Bigger payments cut debt more quickly, financial advisers said. So does lower interest. With competition among credit card companies, many will negotiate lower rates to hold onto a customer. If they won’t, switch to a lower rate card, financial advisers said.

“You’re going to get the best bang for your buck by paying back the highest interest debt you have first,’’ said Hurley.

But not everyone agrees that attacking credit card debt first is the best approach, since high interest charges can extend the time it takes to make a significant dent.

Credit card debt: Whether it was a lost job, medical costs, or an over-the-top shopping spree (or a few!) that led you to spend beyond your monthly income, you’ve probably been there once or twice. Most families can recover by tightening their belts and faithfully paying down debt, but at least 2 million Americans a year turn to a credit counselor — a financial professional who evaluates your situation and creates a strategy to help you get out of debt — to get back on track.

“If you haven’t been able to get out of debt on your own, you’re a good candidate for credit counseling,” says Lynnette Khalfani, author of Zero Debt. “These counselors can help you negotiate lower interest rates and help get late fees, over-the-limit charges, and other miscellaneous fees reduced or eliminated.” And learning to live debt-free may take less time than you think: One third of those who seek counseling need only one session and can then follow a plan themselves.

“But buyer beware,” Khalfani adds. “There are good and bad credit-counseling companies out there.” Here, how to determine if you need a counselor — and how to find a reputable one.

1. Figure out whether you really need help.

The National Foundation for Credit Counseling (NFCC) suggests that you see a counselor if you’re facing one or more of the following:

• Your monthly credit card payments amount to more than 15 percent of your take-home pay.
• You can afford to make only the minimum payments on your bills (or can’t even make the minimum).
  You have to forgo paying some creditors in order to pay others.
• You find you need to put routine items like groceries on a credit card.

A counselor can review your budget and offer recommendations on how to become debt-free, or can set up and oversee a debt-management plan for you. She may even step in to contact creditors and arrange to stop collections harassment.

The counselor also negotiates how much you’ll pay each creditor every month. You then make one monthly payment to the counseling agency, which disburses it to your creditors.

2. Check the counselor’s credentials.

How to find a good one? For starters, have a look at the U.S. Department of Justice’s list of agencies that have been approved to counsel bankruptcy clients here; these counselors meet government requirements for training and experience and have undergone a criminal background check. These agencies are also bonded, meaning they carry insurance that will cover you for any financial loss due to an employee’s misdeeds. And they’re all nonprofit organizations (for-profit companies have more incentive to try to rush you into higher-fee debt-management programs).

Another good place to look for a credit counselor is the NFCC. Its member agencies (to find them, log on to debtadvice.org) also meet training and ethical standards, are bonded, are nonprofits, and are audited regularly.

 As World AIDS Day approaches, black advocates say the deadly disease continues to inflict a staggering human and financial toll on the African American community.

The AIDS epidemic has claimed the lives of more than 230,000 African Americans over the past three decades. And although black Americans constitute just 12 percent of the U.S. population, they account for 46 percent of the 1.1 million Americans currently living with HIV.

To some observers, the fact that America hasn’t yet won the battle against AIDS boils down to pure economics.

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“If we had large numbers of millionaires, billionaires and those impacting the economy dying of AIDS, I guarantee you a cure would be found virtually overnight,” says LaMont Evans, CEO of Healthy Black Communities Inc. in Atlanta.

“It’s sad to say,” Evans told BlackVoices, “but there’s a lack of urgency in addressing this problem because those impacted are seen as disposable and not economically important.”

Whether one agrees with Evans, he may be on to something: Wealth and status indeed play a huge role in the likelihood of becoming infected with HIV in America.

Continue reading at Black Voices.

© Lev Olkha – Fotolia.com

Ever notice how when celebrities strike it rich, they often talk about buying something for their mother or another family member? The gift of choice seems to be a great big house. But it could be something different.

Miami Heat guard Dwyane Wade bought his mom not just a house, but an entire church in Chicago. Explaining his decision, Wade told the Associated Press: “It’s the dream of every man, every boy, to be able to give their mother everything they want. So that was my dream and this is her dream.”

Then there’s entertainment mogul P. Diddy, who this year purchased a $360,000 Maybach for his son’s 16th birthday.

Despite these extraordinary presents, homes remain the favored gift when people start living large. Even Internet celebs, one-hit wonders and overnight sensations — like Antoine Dodson of YouTube/”Bed Intruder” fame — want to get that “big house” for momma.

While such generosity is admirable on many levels, it’s also often financially foolish.

Why?

High rollers frequently think they’re giving their parents and others a slice of the good life. In reality, they’re giving what I call “the gift of debt.” That’s when someone “gives” a family member or friend something that winds up costing the recipient (or the gift-giver) way more money than either party ever imagined.

For instance, a house that’s a “gift” not only has to be furnished, it also comes with annual property taxes, insurance, maintenance expenses and often a mortgage as well. A luxury car given as a “present” nevertheless requires gas, tires, ongoing upkeep, car insurance, and quite possibly car payments too.

That’s why all gifts like homes, cars, etc. are “gifts of debt” because they require ongoing costs, additional expenses or upkeep that most recipients simply can’t pay on their own.

You might not be a “baller” with deep pockets. But with Black Friday approaching, and the holiday shopping season already in full swing, you may be tempted to do some serious spending of your own.

“But if you give someone an extravagant gift, and you put them in a position where maintaining that gift doesn’t fit their budget, then you’re really not helping them,” says Stacey Tisdale, author of The True Cost of Happiness: The Real Story Behind Managing Your Money and the creator of Winning Plays, a life skills and financial literacy program for teens.

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