10 WAYS TO MAXIMIZE SALARY

Are you tired of waiting for your boss to come through with your much-deserved raise? You have two choices: Change jobs or make the most of the money you're making.

If you're convinced the salary hike is in the works, there are ways to cope until the extra cash shows up. These 10 tips can help you maximize your current salary.



1. Set up direct deposit of your paycheck
You usually can save on banking fees with automatic payroll deposit. Plus, if you don't have an actual check in hand, you might be less tempted to spend your pay so quickly.

Don't stop with the salary direct deposit. When you set that up, also arrange to have a part of your check go automatically into a savings account or other investment option to build an emergency fund. "Direct deposit into an investment vehicle will help you save," says Peter Lengsfeld, a senior financial consultant and certified financial planner with Presidential Brokerage Inc., Greenwood Village, Colo.

2. Manage your payroll withholding
To ensure that you're sending the correct amount of money directly into your bank account, double-check your payroll withholding. Have too much taken out, and you're giving the federal government a tax-free loan. Withhold too little, and you'll end up with a whopper of a tax bill at the end of the year.

If your circumstances change during the year, for example your spouse gets a raise or your oldest child moves out, change your withholding accordingly.

And don't just drop off the change paperwork and forget about it; make sure the changes show up on your next paycheck. It pays to do this, says Christopher Krell, a certified financial planner with Cassaday & Company in McLean, Va., because company accountants have been known to make mistakes.

3. Contribute to your 401(k)
Sign up for your company-sponsored retirement plan and sock away as much as you can. Many employers match at least a portion of what their workers put into retirement accounts, so try to contribute enough to get the maximum match from your company. Not only will you build up your retirement fund, but because you're funding it with pretax dollars, the amount of your salary that is taxed by Uncle Sam is reduced.
"You're literally walking past money on the ground and not picking it up if you don't participate," says Krell.



4. Regularly reevaluate your plan contribution
Don't just enroll in a retirement plan and forget it. Most 401(k) plans allow employees to allocate their investments. Take time to make sure your investment is appropriate. For example, if you're putting 50 percent of your contributions into a high-tech stock fund, you're taking on extraordinary risk since that sector frequently takes big nose-dives. Redistribute most of your investments into less volatile areas of the market, and allocate only a small portion to "hot" sectors. Make sure you get quarterly statements from your plan administrator, says Lengsfeld, and look at them to help you maximize your investments.

5. When changing jobs, roll over your retirement money
If you decide to take another job, don't leave your old retirement fund behind. While in some cases a former employer will continue to manage the plan you started there, it generally pays to take your retirement account with you when you go. Put it into your new company's 401(k) plan or roll it into an individual retirement account. Bundling money into one retirement fund can help increase returns.

Just make sure any transfer is done company-to-company (or company-to-IRA trustee). That way you avoid having early distribution taxes taken out of the account.

6. Diagnose the best health coverage
Make time to go over your coverage to guarantee that you get the medical benefits you want for the least amount of money. If you're married, don't forget about your spouse's coverage. By comparing each of your company plans, you can decide whether it's more cost-effective for you each to carry separate health care or to combine coverage under one employer plan.

"People often don't take the time to go to their company's Web site or read the company's benefit materials item by item to understand their benefit options," says Karin Maloney Stifler, a certified financial planner with True Wealth Advisors LLC in Hudson, Ohio. "This can be a good way to maximize benefits and salary."

7. Dine at your company's cafeteria plan of benefits
In addition to the more-basic employee benefits, many companies offer programs so that workers can establish accounts with pretax dollars to cover uninsured health care expenses, dependent care costs and even the price of commuting. These can save you big since you're paying with money before the Internal Revenue Service gets its cut. If your company doesn't offer such benefits, lobby for them.

"This is a no-brainer," says Mitchell Freedman, CPA and personal financial specialist with MFAC Financial Advisors Inc. in Sherman Oaks, Calif. "It's not hard or costly for companies to set up such programs, so even if your employer is small, urge your company to do this."

8. Examine all your potential company benefits
Some valuable benefits also might be hidden deep within your employee manual.
Does your company offer life insurance? What about options to purchase disability or other forms or insurance at lower-cost group rates? Maybe the company offers tuition reimbursement, which could help you get the training necessary to demand a bigger pay raise next time around.

Some public companies sell their stock to employees at a discounted price. The practice builds in a profit for the employee shareholder and provides the worker with another investment vehicle. "You can buy common stock of your own company very often at a discount and with no commission," Stifler says. "It's better than buying it off the street."

7. Dine at your company's cafeteria plan of benefits



In addition to the more-basic employee benefits, many companies offer programs so that workers can establish accounts with pretax dollars to cover uninsured health care expenses, dependent care costs and even the price of commuting. These can save you big since you're paying with money before the Internal Revenue Service gets its cut. If your company doesn't offer such benefits, lobby for them.

"This is a no-brainer," says Mitchell Freedman, CPA and personal financial specialist with MFAC Financial Advisors Inc. in Sherman Oaks, Calif. "It's not hard or costly for companies to set up such programs, so even if your employer is small, urge your company to do this."

8. Examine all your potential company benefits
Some valuable benefits also might be hidden deep within your employee manual.
Does your company offer life insurance? What about options to purchase disability or other forms or insurance at lower-cost group rates? Maybe the company offers tuition reimbursement, which could help you get the training necessary to demand a bigger pay raise next time around.

Some public companies sell their stock to employees at a discounted price. The practice builds in a profit for the employee shareholder and provides the worker with another investment vehicle. "You can buy common stock of your own company very often at a discount and with no commission," Stifler says. "It's better than buying it off the street."

9. Refuse allowances
Companies often provide car allowances to employees who frequently travel. "I recommend that they ask to be given reimbursement for their actual auto expenses instead," Freedman says. "The reason is that the car allowance is added to their income and is, therefore, subject to tax, whereas reimbursement is not."

10. Make sure your savings keep pace
Your boss finally signed off on your raise! Now don't waste a penny of it.
Financial planner Stifler recommends that when your salary increases, bump up your savings, too. If you get a 3 percent raise, she says, increase your 401(k) contributions by the same percentage.

If you make this savings move as soon as your raise is effective, the transition should be relatively painless. Remember tip No. 1? It's always easier to sock away money before you get used to having the extra cash to spend. And the sooner you add more to your retirement plan, the bigger the eventual payout will be.

Feng Shui: Using Wind Chimes and Water Features

Water Features Improve Your Health And Bring Vitality To Your Home

The human body is essentially made up of water, and the chi of the water inside your body has a similar frequency to the chi of any water nearby, making it possible to create a powerful connection between the two.

If the chi of the water outside your body is pure and clear, while the chi of the water inside your body is weak, then the outer chi can improve the strength of your inner chi.

You can bring water features into your home by adding small indoor waterfalls, fountains, aquariums or simply a bowl of fresh water that is refilled daily. Moving water will add more yang, vibrant energy; still water will add more yin, calming energy.

To gain its beneficial effect, the water must be clean and fresh, so change it frequently.

People have traditionally gone to the sea, spas or springs to heal injuries and recover from illness. This explains the feng shui principle that the chi of fresh, clean water has a positive influence on the water chi in your body.

Create A Relaxed Environment Using Wind Chimes

The sound of a wind chime sends out ripples of energy, which help to move and spread out chi. Chimes can also disperse concentrated chi, making it more yin. You can therefore spread out the chi that is rushing through your entrance, helping to fill your whole home with new chi.



The sound of metal wind chimes radiates more metal chi; such chimes are best in the south west, north east, centre, west, north west and north areas, where metal chi is harmonious with the ambient chi. Use wooden wind chimes in the east, south east and south parts of your home, where the wood is harmonious with the wood and fire chi.

Simply hang by a door, so that the chime is hit each time the door is opened.

Wind chimes are only active in terms of feng shui when they chime, so if they do not ring because they are above a door or out of the wind, you need to ring them yourself frequently.

Choosing a Good Condo

Buying a condominium is different from buying a house and there are questions that need to be asked, documents that must be reviewed and information that should be obtained before you commit beyond redemption to a purchase.

Condos are a wonderful lifestyle choice, and in congested urban areas may be one of the few homeownership choices. But make sure you understand what you are buying and what you are buying into.

Seek ownership in a well-maintained building and pay special attention to the financial health of the condo association. Lax maintenance may be a sign of financial trouble, which could result in higher maintenance fees and problems trying to resell the property later.


First of all, ask the right questions. Your agent will probably not have all the answers and the listing agent may not either. Therefore the first question you ask is if the complex is professionally managed.

To enhance your chances of buying a good condo, here are key questions that need to be answered to your satisfaction when buying a condo:

• Is the condo association professionally managed?
Unless it is a small condo building of five units or less, professional management is a good sign. The cost usually pays for itself because an experienced condo manager knows where to get repair discounts that often "save" the equivalent of the professional manager's fee. A related question to ask is how long the professional manager has been managing the complex. The right answer is: the longer, the better. That indicates the condo owners are satisfied.

• How do the monthly fees compare with nearby similar condo complexes?
The answer is important not only to your wallet, but to the resale value of the condo. When the condo fees are very high compared to the competition—that holds down the market value of condos in that complex. Be sure to inquire what services are included, such as central heat and air conditioning.

• How good is the soundproofing?
Because poor soundproofing is the No. 1 complaint of condo owners (especially for buildings converted from apartments), when you focus on buying a specific unit, it pays to test the soundproofing. This can easily be done by asking the upstairs, downstairs and adjacent neighbors to turn on their TVs and stereos to normal levels and see if you can hear them in the unit. Also, check for noisy floors upstairs, especially in wood construction buildings if the upstairs neighbors don't have carpets with heavy padding.

• What is the percentage of renters?
Mortgage lenders know the risk of foreclosure default is very high in condo complexes with more than 20 to 30 percent renters. Many lenders either refuse to finance units in such complexes, or they charge above-normal interest rates. The reasons are that absentee landlords often have little interest in properly maintaining the condo complex and their renters aren't as considerate as owner-occupants. The result can be declining maintenance quality. Condo complexes with anti-renter rules are considered very desirable for owner-occupants and often bring premium resale prices.

• Has the condo unit been professionally inspected and did the seller provide a defect disclosure report?
Most states now have laws and court decisions requiring condo and house sellers to disclose known defects. Smart buyers carefully study these written disclosure forms before making purchase offers. In addition, savvy buyers include in their condo purchase offers a contingency approval clause for a professional inspection of the unit after the offer is accepted. The buyer should always accompany the inspector to discuss any undisclosed defects discovered.

• Ask current residents, "What do you like best and least living here?"
Or you might prefer to ask, "Would you buy a condo here again?" Most condo owner-occupants are friendly and willing to share their good and bad experiences. Be sure to talk with several residents just to be sure you aren't talking with a "bad apple," professional complainer. Just to verify your soundproofing test of the unit you are considering for purchase, casually ask, "How is the soundproofing here?"

• What is the financial condition of the condo association?
If you are considering purchase of a brand-new condo, to attract buyers the developer has probably set the monthly condo fees very low. Watch out for inadequate allocations for replacement reserves which are sure to increase in future years as the building ages and needs repairs. If you are considering buying an older condo, study the replacement reserves. Depending on the building's age and anticipated replacements, such as a new roof every 15 to 20 years, if reserves are inadequate a large special assessment might be levied on each owner when an unexpected cost arises.

• Have there been any special assessments in the last three years?
Are there major maintenance or improvement projects anticipated in the next 12 months? Are there sufficient reserves to cover those expenses? Homeowners have unexpected repairs and so do condo associations. But a well run association plans for these and sets condo fees so sufficient reserves exist to cover emergencies. Multiple assessments are a sign of poor planning. How unfair to purchase a unit from someone who had enjoyed artificially low condo fees for years, only to have to immediately cough up a huge assessment when the underground parking garage begins to collapse.

• Are there any current disputes among owners that the Association is trying to resolve?
If owners are fighting over one or more issues, you may want to think twice about buying into a hornet’s nest. Some issues that keep popping up:

• Hanging items on or from balconies.
This rule was originally put into condo documents to prevent stringing up laundry or hanging bird feeders which might cause hygiene problems, but countless battles have been fought over the last few years over its enforcement against flying the flag.

• Pets.
Condos that don’t allow them are often pressured to admit them; those that do permit them are pushed into conflict by one owner’s nasty poodle. Even where the right to own a pet is untouchable, behavior of individual pet owners can cause complex wide disagreements.

• Age restrictions.
Over-55 developments can be thrown into turmoil if an owner’s kid moves back home with ill-behaved teens. Also a remarriage or illness may dramatically change a family’s structure.

• Is the Condo Association involved in any lawsuits?
It is not unusual for condo owners to end up in litigation with the developer of the complex, with the manufacturer of building products used in the development or with an individual homeowner. Such lawsuits are not necessarily a deal killer, but something to discuss with your attorney.

• Are there any amendments to the condominium by-laws currently under discussion?
It would be a tough break to be handed the keys to your new condo only to discover a new amendment to the bylaws limiting each owner to one parking space. How scary to leave the Ferrari parked on the street. An extreme example, but some sudden bylaw changes could impact on your use and enjoyment of the property. Once you actually own your unit, you have a vote.

Advantages of Condominium Living

There are many reasons for buying a condo instead of a house. They make great affordable first homes. They also make great "last homes" if you are downsizing from a large family house to a smaller residence.

One huge advantage is no exterior maintenance worries, however at the same time the homeowner or monthly condo fee you pay for such convenience if say your condo has a swimming pool could be higher than other available condos.


The biggest disadvantage is the condo fee cannot be deducted from your income taxes. If you lived in a single family home, maintenance is not deductible either, but you might have better control on whether you want to cut your grass or paint the exterior bec each decision(s) comes from your wallet so the real question is whether it bothers you paying the monthly condo fee x 12.


The many reasons for buying a condo instead of a house include:

• Usually less expensive than buying a similarly sized single-family house.

• Condominiums are often located convenient to centers of employment and shopping.

• Some of the amenities include 24-hour concierge, high-tech security surveillance, recreation and fitness facilities plus the convenience of not having to shovel snow or cut grass.


• Exterior maintenance is the responsibility of the condo homeowner's association.

• The security of leaving your condo for an extended period without worry (called "lock and leave").
• Homeowner tax benefits similar to houses.

• Pride of ownership from being an owner rather than a renter.


• Potential resale profit as the condo appreciates in market value. However, local supply and demand greatly affects this last potential advantage.

How to Plan a Beach Picnic

Picnics are wonderful, but can be even better with the sun warming your face and ocean sounds in the background.


Here's the skinny on how to make it a day to remember.

Things You’ll Need:

* Invitations
* Candle Lanterns
* Picnic Basket
* Picnic Blankets
* Napkins * Paper Cups
* Paper Plates
* Plastic Food Containers
* Plastic Utensils * Badminton Set
* Beach Umbrellas
* Picnic Backpacks


Step1 Choose a scenic and wind-resistant venue for your outdoor meal. Try a place between two rock faces or farther from the water than you'd usually like to sit.

Step2 Although beach parties are generally informal, you may send invitations a week or two in advance so guests can plan ahead.

Step3 Plan a menu based on the amount of people and the load you can carry. Ask friends to bring certain items to lighten your responsibilities.


Step4 Outfit yourself with the necessary equipment. A picnic basket filled with plates, utensils (don't forget the bottle/can opener and corkscrew), cups, plastic containers and napkins is recommended. Pack trash bags to carry away any disposables.

Step5 Pack your food. Place the heavier items on the bottom and lighter ones on the top.

Step6 Remember to bring a hat and/or an umbrella to shade your perishables and your face from the hot sun. Also pack plenty of ice, which you'll need to keep your food chilled in the sun.



Step7 Toss in a blanket and/or folding chairs for your sitting and dining comfort. Step8 Bring torches or lanterns for nighttime picnics, or in case your daytime adventure carries on into the night.

Tips:

* Picnic backpacks are good replacements for picnic baskets and, generally, great for lugging anything around.

* Line the bottom of your picnic basket with a towel or plastic to catch any spillage along the way.



* Bring your towel, swimsuit, sunscreen, insect repellent and extra clothing layers, along with your beach toys: flying disc, badminton set, snorkeling gear, surfboards, squirt guns, portable radio and so on.



* Wind is your worst enemy on a beach picnic, so pay special attention to your choice of location and pick the least windy spot. You don't want to fight with your blanket and keep sand out of your potato salad all day. If it's too windy and cold and you're already at the beach, make the most of a not-so-perfect situation: Look for a picnic table and reliable shelter.

Triple-Layer Mud Pie

Prep Time:
15 min
Total Time:
3 hr 15 min

Makes: 10 servings, one slice each

3 squares BAKER'S Semi-Sweet Baking Chocolate, melted
1/4 cup canned sweetened condensed milk
1 OREO Pie Crust (6 oz.)
1/2 cup chopped PLANTERS Pecans, toasted
2 cups cold milk
2 pkg. (4-serving size each) JELL-O Chocolate Flavor Instant Pudding & Pie Filling
1 tub (8 oz.) COOL WHIP Whipped Topping, thawed, divided

MIX chocolate and condensed milk until well blended. Pour into crust; sprinkle with pecans.

BEAT milk and dry pudding mixes with wire whisk 2 min. or until well blended. (Mixture will be thick.)

Spoon 1-1/2 cups of the pudding over pecans. Add half of the whipped topping to remaining pudding; stir until well blended. Spread over pudding layer in crust; top with remaining whipped topping.

REFRIGERATE 3 hours. Store leftovers in refrigerator.

Creating a Bedroom Suite

A bedroom is intended for rest and relaxation, and more often than not, people are turning their bedrooms into multipurpose rooms complete with exercise equipment and electronics. Over the years, bedrooms have lost their purpose, and many have become a catchall for everything from laundry to sporting equipment.
Countless people hide away things they don’t want others to see by storing them in the bedroom and keeping the door closed. Instead of using your bedroom for storage, reconvert your bedroom into a retreat exclusively for relaxation, meditation, and slumber.

Hide away the television, organize storage, and transform your bedroom into a comforting suite that you’ll love to relax in. With the addition of soothing colors, fine linens, and a rich combination of textures, you’ll enjoy your bedroom while resting better than ever before.

Soften the Look

Soft colors provide a feel of comfort and relaxation, and they affect behavior and mood. If your bedroom walls are covered in wallpaper with busy patterns, or paint that’s bold and bright, consider softening the look with gently flowing patterns and soft secondary colors.



Green is a color with a natural calming effect, and it’s restful to the eyes. It’s one of the best color choices for bedroom walls, and is available in many fresh new shades. Consider giving your walls a fresh coat of green paint, or choose wallpaper that’s primarily a soft shade of green.



Blue is also an extraordinary color choice for a bedroom suite. The color blue naturally provides a feeling of calm and comfort by relaxing the mind and body. There are many new shades and wallpaper patterns to consider for bedroom walls.



Walls painted in a rich brown tone and paired with a secondary color or muted primary color is also an excellent choice for creating a relaxing bedroom suite. Consider painting one or two walls a warm shade of brown, and opposite or adjoining walls a soft complimentary color of your choice. You’ll have bedroom walls that look worthy of the finest hotel.



Whatever color or shade you choose, further add to the ambiance of the room with coordinating throw pillows, bedding, window treatments, and accessories. Unleash your creative side, and paint your room to match your unique personality as well as your style. You’ll begin to feel relaxed the moment you step into the room.



Change the Lighting

Bright lights are great for reading, but they aren’t conducive to relaxing. Consider installing a dimmer switch to control the level of lighting in your bedroom. A dimmer switch will allow you to choose the perfect level of lighting whether you’re enjoying a good book or working on a detailed project.



Change existing light bulbs, and replace them with room enhancing bulbs that bring out the true colors of a room. The yellow tone cast by ordinary light bulbs will be replaced with clear white light that will enhance and beautify your bedroom décor.




Diminish the Distractions

If you want to turn your bedroom into the tranquil suite you’ve always wanted, make it a place for rest rather than a place for audiovisual entertainment. Move the living room out of the bedroom and diminish the distractions.



For those who can’t bear to part with a television in the bedroom, there are decorative armoires with doors that close. An armoire will conceal televisions, stereo equipment, video games, and any other must-haves. At the same time, you’ll add storage space and style to the bedroom.



Take the gym out of the bedroom, and move exercise equipment to a more appropriate place such as a family room or basement. Exercise equipment is a visual reminder of unfinished business, and the place intended for sleep should be the last place to think about physical fitness.



If your bedroom also serves as your computer room, move your computer desk out of the bedroom and into to a central location. A family room, loft, or great room is a more appropriate location. With the computer out of the bedroom, you won’t be tempted to check your email one last time before retiring for the night.



Banish the Clutter

An exquisite bedroom suite, decorated with the finest wall coverings, furniture, and accessories isn’t nearly as exquisite when filled with clutter. Banish the clutter, and you’ll not only greatly improve the overall look of your bedroom, but you’ll also open it up, making it appear much more spacious.



Reorganize and revamp your closets with shelves, hanging closet rods, and other innovative solutions for storage. Get rid of clothing and other stored items you no longer use. With creative solutions and organization, you’ll be amazed at the extra storage space you can find in your closets.

Take advantage of empty space under the bed, and invest in plastic storage containers with lids. Choose clear containers equipped with wheels so you can easily view the contents. Seasonal clothing, extra blankets, and miscellaneous items can be safely and inconspicuously stored until they’re needed.


Bedroom Arrangement

Tactically place furniture on an angle rather than squarely against the walls when arranging or rearranging. Angles and gentle curves make a room feel warmer and cozier. Not only will your bedroom suite look worthy of a home decorating magazine, but you’ll also use more of the space your room has to offer.



To create a bedroom suite for relaxing or reading, place a comfortable chair complete with throw pillows and a warm fuzzy wrap in a corner of the room. Add an end table and lamp, and you’ll have a quiet place to curl up with a good book in the most relaxing room in your home.