Issue link: https://www.epageflip.net/i/5650
It may take a while for the dust to settle, but ever- tumultuous 2009 is coming to a close. Signs of economic recovery—most pointedly, the 3.5 percent GDP growth in the third quarter of the year—have started to emerge. And so, too, has a sense of cautious optimism. If you, like many, are eager to move past the economic trauma of the last few years, the dawn of 2010 may be the right opportunity to assess your financial situa- tion and determine a saving and investment strategy for the years ahead. Reduce debt If you have relied too heavily on credit to get by in the past, it's time to get out from under your debt burden. Make timely payments to avoid late fees and pay down your credit card bal- ances as aggressively as you can. If you are in over your head, you may qualify for a modified payment plan with reduced interest rates. Call your card com- pany to explore your options. Spend less and save more One good thing to come out of the "Great Recession" is Americans' renewed emphasis on care- ful spending. Choosing economy over extrava- gance is fashionable again. Try cutting back on non- essentials—lunches out, newsstand papers and mag- azines, fancy coffee drinks, and so on. You'll be amazed how these small expenses can add up to sig- nificant savings over time. Transact in cash If pay- ing by plastic is a catalyst for overspending and bur- densome debt, put the cards away. Instead, pay by cash, check or debit card. Debit cards differ from credit cards because your pur- chase is paid immediately from available funds rather than by borrowing. Many debit cards will not allow you to make purchases that exceed the available funds in your checking account; however, some will. If you're prone to overdraw- ing, talk to your bank about enrolling in overdraft pro- tection. Make sure you understand the associated costs before you sign up. Save and invest auto- matically Take the pain out of saving by making it happen a u t o m a t i c a l l y. Use direct deposit to divert a specified amount or percentage of your paychecks into savings. Your financial institution can also help you roll money into your savings account, IRA, money mar- ket account or other savings and investment plans without any effort on your part. Monitor your state- ments to make sure your money is diverted where you want it to go and pat yourself on the back for investing in your future. Diversify None of us has the ability to predict the inevitable ups and downs of the stock market. That's why it's important to diver- sify your investments - it's the best way to reduce your risk while preserving the opportunity to benefit when things are moving in the right direction. Choose from mutual funds, stocks, bonds, annuities and other invest- ment vehicles that serve differ- ent financial objectives. Re-evaluate and adjust on a regular basis Don't just sock away money and forget about it. Every six months, look at the rates of return earned on your savings and invest- ments, consider risk, and rebalance to align with your goals. Get professional advice It can be difficult to make smart decisions about your money. Alan Foley is a financial advisor and business financial advisor for Ameriprise Financial, 2150 Main St., Ste. 8, and can be reached at 528-1328. Wednesday, December 30, 2009 – Daily News – 5A Smog Check starting at $ 29 95 (most cars and pick-ups) Pass or FREE retest COMPLETE AUTO REPAIR + cert. All makes and models. We perform dealer recommened 30K, 60K, 90K SERVICES AT LOWER PRICES 527-9841 • 195 S. Main St. Largest Selection In Tri-County • Herbal Medicines • Edibles (Foods) • Clones 1317 Solano St. (530) 824-4811 www.tehamaherbalcollective.vpweb.com Corning Calif. $ Money $ 2 Lend Cash 4 Notes McKinley Mortgage Co. CA DRE # 01773837 Call 530-241-0977 800-909-1977 Commerce business&enterprise New Year's Eve bull riding Some 25 professional bull riders and six ranch bronc riders are expect- ed to be competing during Thursday evening's Diamond W National Bull- riding Championship New Year's Eve event in the Pauline Davis Pavilion at the Tehama District Fairground. This exciting and popular New Year's Eve show begins at 8 p.m., gates open at 6 p.m., and will feature a Cowboy Poker Tournament, Ranch Bronc Riding for local cowboys and events for youngsters, including mutton-busting and calf chasing, competing for buckles and $225 in prize money. Following the bullriding will be a New Year's Eve dance featuring a live band and a $500 cash prize drawing at midnight. Pre-sale tickets for the evening are $20 grandstand and $25 ring-side reserved and are available at The Loft and the Red Bluff Round-Up Museum and office. For additional information, call Diamond W Western Wear at 891-1650. *** A slate of 15 downtown business people were elected to direct the affairs of the Downtown Red Bluff Business Association in 2010 at the Dec. 16 general membership meeting. Nominating Committee Chairman Tod Dolling said directors serve for one year from Jan. 1 through Dec. 31, 2010. Elected to serve as directors for the DRBBA are Irene Fuller, Heartfelt Designs; Tod Dolling, Dolling Insur- ance; Travis Dolling, Dolling insur- ance; Tyler Smail, Edward Jones Co; Andrew Shanley, Goodtyme Satellite; Alexandra Macciochi, Red Bluff Inte- riors; Roberto Reyes, Los Mariachi's Restaurant; Diane Ampi, PremierWest Bank; Michelle Padilla, Fidelity Title; Terry Alvord, Carmona's; Jessie Woods, The Gold Exchange, Karyn Harvey, California Kitchen & Co.; John Gumm, Gumm's Optical; Traci Spence, First Love Tattoo and Bill Dixon, Montana Morri- son Gallery. Officers will be elected at the Jan. 20 meeting. *** Good Morning, Red Bluff Chair- woman Carol Wood reminds all chamber members there will be no Good Morning, Red Bluff meeting in December and that the next meeting will take place on Thursday, Jan. 28, hosted by the American Cancer Soci- ety and taking place at the Presbyter- ian Church at 838 Jefferson St. Wood says the very successful morning get-togethers offer chamber members an opportunity to network and do business with one another. Good Morning, Red Bluff takes place on the last Thursday of each month at different locations hosted by local businesses. Future meetings include January - Relay for Life, February - Sears, March - McGlynn, McGlynn and Bot- tke. *** Chamber members are urged to take advantage of an extremely visible and highly effective advertising medi- um - the chamber's electronic message center, more commonly referred to as our reader board, on South Main Street in front of the chamber office. It is in operation 6 a.m. to 10 p.m. 365 days per year. Your message is displayed some 25 times per hour, 410 times per day, 2,870 times per week and 12,300 times per month. For additional information and rates contact the Chamber office at 527-6220. *** All chamber members are remind- ed the 2010 employment poster, which contains all state and federal employer notices, is available through the cham- ber office. The poster, which is required to be displayed by every California employ- er, contains all required employer notices on one poster and includes a checklist to ensure poster is displayed according to law. The poster is pro- duced by the State Chamber of Com- merce and made available to local chambers. Cost for the 2010 poster is $20. Call the chamber at 527-6220 to order yours today. ——— The We Mean Business column is prepared and submitted by the Red Bluff-Tehama County Chamber of Commerce. Corning in the Evening Jan. 14 • Corning in the Evening — Thursday Jan. 14 will be the first Corning in the Evening for the new year. It will be hosted by Angela Polanco at the chamber office, 1110 Solano St. Angelo will share about her business. Please bring your business card for a chance to win a door prize. Refreshments will be served. • 10th Annual Tri-County Economic Forecast Con- ference — The Center for Economic Development (CED), California State University, Chico, will hold its 10th Annual Tri-County Economic Forecast Confer- ence on Jan. 14, 2010, from 8 a.m. until noon in the Bell Memorial Union Auditorium. A continental break- fast will be served beginning at 7 a.m. The conference provides attendees with information about economic trends in Butte, Glenn and Tehama counties. This information, according to Dan Ripke, director of CED, improves the ability of local business- es and community leaders to successfully plan for the future of Northern California. John Chiang, State Controller, will be the keynote speaker. He brings extensive experience and fiscal lead- ership to the State Controllers Office. Also speaking at the conference will be Dr. Robert Eyler, Professor of Economics at Sonoma State Uni- versity; Gary Zimmerman, senior economist at Federal Reserve Bank; Gregg Kelley, president and CEO of California Olive Ranch; Jamie Johansson, owner of Lodestar Farms; and Pat Campbell, vice president of operations at Bell-Carter Olive Co. Registration is $75 per person and includes a conti- nental breakfast, a conference packet and one individ- ual economic and demographic profile for Butte, Glenn or Tehama counties. Please visit www.cedcal.com or call 530-898-4598 for additional information and to register. • Thanks from Melvin Oliver — The chamber office received a call from a man named Melvin Oliver from Roseburg, Ore. who stayed the night in Corning recent- ly and lost his wallet. Some kind, honest person mailed the wallet to him with everything still in it, but did not include a return address. Oliver wanted to say a big thank you to whoever sent his wallet back. • Volunteers needed – Community Action is looking for a few good volunteers to help with its volunteer Income Tax Assistance program. It will provide all training, equipment and materials needed for the pro- gram. Training for volunteers will include information on the Earned Income Tax Credit (EITC). You could help to get back the $1,500,000 in unclaimed EITC in Tehama County. If you are interested or would like more information, call Lisa Tadlock at 528-4022 or ltadlock@tcdss.org. • Office closed — Just a reminder that the Chamber office will be closed for the holidays and will re-open Monday, Jan. 4. Happy New Year. ——— This column is prepared and submitted by the Corning Chamber of Commerce. Biz news? Business news may be submitted to clerk@redbluffdailynews.com. Include name and phone. Digital pictures should be attached as .jpg files. Info is available at 527-2151. Here's to financial stability in the new year Alan Foley