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Posts with tag ohio

Lights, Camera, Personal finances!

Filed under: Kids and Money

videocameraI continue to be impressed with efforts the state government and other organizations in Ohio are taking to teach people, especially teens, about personal finances. Last week a local credit union taught teens about real life finances,which was an eye opening experience. Today the Ohio Attorney General announced that it would be running a video PSA contest for high schoolers, focused on making "Smart Money" choices.

Several suggested themes include:
  • reading the fine print
  • free isn't always free
  • avoiding offers too good to be true
  • building good credit
  • preventing identity theft
  • safe Internet shopping and networking
The winning public service announcement will be reproduced professionally at the Best Buy headquarters and aired throughout the state in 2009. Winning teams receive Best Buy gift cards as well as a recognition plaque and the winning school also receives a $5,000 Best Buy gift card for computer equipment. The contest is open through December 1st and the first 100 teams to enter receive a $25 gift card just for entering.

The $1.75 eBay house: Foreclosure bargains aplenty

Filed under: Bargains, Home, Simplification, Wealth, Bankruptcy

For months, I've been hearing rumors and tales about incredibly cheap housing in high-foreclosure markets. In Detroit, for example, a house that cost $65,000 in 2006 recently sold for $1, and it's apparently fairly common to find houses in the $300 range.

As in the case of the $1.75 house that Joanne Smith bought in Saginaw, Michigan, many of these super-cheap foreclosures come with a tax bill that is in arrears, but even with the $850 in back taxes and cleanup costs that she will end up having to pay, she's gotten an incredible deal.

Searching through various foreclosure listings online, I decided to check out some of the places where I've lived. In Roanoke, Virginia, where my wife and I briefly contemplated buying a home, the cheapest place I found was running about $1,000. Meanwhile, in Blacksburg, where my wife and I worked, even HUD homes used to run in the $140,000 range. Right now, "motivated sellers" and banks are dropping properties at fire-sale prices.

Ohio short-circuts copper wire thieves

Filed under: Ripoffs and Scams

copper coilThe Governor of Ohio, the state I call home, signed a new bill into law recently which is aimed at deterring scrap metal theft. The new law was introduced last year in response to thefts of everything from manhole covers and kegs to power station and telecommunication equipment. In fact, the state had passed similar restrictions last year citing the theft of cable from AT&T which cost the company close to $80,000, but had a lowly value of $30 to the thieves who stole it.

The new legislation in Ohio would place a higher burden on scrap metal dealers to keep more detailed records of who sells certain types ofscrap metal to them, including most items which are used to deliver a utility, including pipes and cables. This new category of merchandise would be subject to the more detailed book- keeping, including a copy of the seller's driver's license and plate number. Additionally, the law requires the buyer to photograph every item in this category imposes a two-day waiting period for payment, and forbids payments in cash. Sellers of scrap goods would also need to prove that they owned the goods they brought to the scrap yard.

I think this is a wonderful idea and one of the few ways that a dent can be made in the theft of scrap metal goods. Unfortunately, I'm sure it won't take long for thieves to steal some melting pots and melt down copper wire into unrecognizable clumps of metal in order to sell them for scrap. Even if this legislation only helps keep the metal siding on one home, the manhole cover on one street or a beer keg at a college party, it is worth it!