“When your dream appears as an opportunity, you must have ready cash to take it home with you.”

- Anonymous

Welcome to Money-Smarts, MsMoney.com's weekly newsletter of financial facts, features, and tools. Money-Smarts is designed to provide quick and useful information to help secure your financial future. Enjoy, and tell a friend about MsMoney.com!

In This Week's Issue:

• Market Summary for Friday, July 21, 2000
• Tips for the Week: Daily Advice to Help Get You Through the Week
• Read the Latest: Be a Good Homebuyer 101
• Run the Numbers: How Long Will It Take to Pay Off Your Mortgage?

Market Summary for Friday, Date:

Close

Net Change

Percent Change

DJIA

10733.56

-110.31

-1.02%

NASDAQ

4093.77

-90.79

-2.17%

S&P 500

1480.11

-15.36

-1.03%

30-Year Bond

5.78%

-0.02

N/A

Source: Reuters

Tips for the Week: Daily Advice to Help Get You Through the Week

Monday: While you can earn free plane tickets through mileage credit cards, avoid carrying a balance because the interest rates can be sky-high steep. Compare mileage to low-rate credit cards.

Tuesday: Tap the experts through mutual fund investing. Mutual funds are managed by professionals to whom individual investors might not otherwise have access. Learn more about mutual funds.

Wednesday: Are you in a book club and looking to save money? Use your local library instead of buying your next book club selection. Learn more about taking control of your money.

Thursday: By investing in a tax-deferred vehicle, you avoid paying capital gains taxes (as well as taxes on dividends) each year and that allows your investment to grow faster over time. Of course, eventually you’ll have to pay taxes when you withdraw the money. Learn more about retirement accounts, the most common tax-deferred investment.

Friday: Before you accept a job offer, examine the benefits package--with some jobs, benefits kick in right away; with others, they may not start until 3 months or even a year after you do.

Read the Latest: Be a Good Homebuyer 101

By Julie Sullivan

In today's housing market, where buyers are scrambling for space, and sellers is entertaining multiple offers--all above the asking price--it pays to be a good homebuyer. Real estate agents are typically juggling a dozen clients at once, and what makes them happiest (besides a vacation) are clients willing to help themselves. Want to be an agent’s dream client who earns the extra effort in an insanely competitive market? According to leading real estate agents, the following phrases trigger a clenched jaw and should be avoided in the interest of securing their help in finding your dream home.

"I want you to find me a house."
The key to the buyer/agent relationship is that the agent isn't finding you a house. The agent’s role is to negotiate the sale. While agents are happy to attend open houses with customers, they can't possibly look at every available home. Searching, therefore, becomes the buyer's job. Buyers must be willing to shop around and exert themselves or they risk alienating the person they need to close the deal. Kathrina Verzosa of LaSalle Properties in the San Francisco Bay Area had clients who refused to put any effort into their search. "Clients need to be proactive,” she says. “They can’t expect their agent to do all the legwork." More-->

Run the Numbers: How Long Will It Take to Pay Off Your Mortgage?

Based on your outstanding balance and your proposed monthly payments, click here to calculate how long until you repay your home equity line of credit.

Questions

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