There are many jobs available to those willing to put their dormant skills to good use. From personal tutoring to babysitting, there are some jobs that will always be in demand, whether the economy is doing good or bad. Here are our top five ways to earn some extra cash:

1. Private Tutoring – Many parents are looking for private tutors for their children, so putting a simple ad in the newspaper can result in some great extra work. From math to science, it’s not hard to teach those young children some critical skills.
2. Walking Dogs – Most people can walk pretty easily, but some people just don’t have the time. As a result, walking dogs can be a lucrative way to make extra money, particularly in wealthy neighborhoods where people are willing to pay a premium.
3. Babysitting – Even parents that are strapped for cash need to get out sometimes, which creates an opportunity to watch over children. While this has been typically reserved for the teenager next door, there’s no harm to putting an ad out if you’re an adult.
4. Sell What you Don’t Need – Selling your junk online can result in some extra cash in your pocket. Often times, one persons garbage can be another person’s treasure, and marketing to millions of people on eBay increases the odds you’ll find someone that treasures your extra belongings.
5. Adjust Your Taxes – Tax withholdings can be a huge waste of money if not done properly. Those that overpay the IRS are basically giving the government an interest-free loan for the year, so adjusting your withholdings can help put that money in your pocket earning interest or buying goods or services you need.
   

Many experts believe that now may be the best time to purchase a home. Home prices are down 25% in the fourth quarter of 2008 compared to the same period in 2006. Meanwhile, the new economic stimulus bill passed in February includes an $8,000 credit for first-time home buyers. Mortgage interest rates are also making housing affordable, with the rate for a 30-year fixed rate mortgage moving below 5%, according to BankRate.com.

Many experts also believe that now is a great time to buy a car, as automakers are desperate to clear their lots for next year’s models. Auto demand is down by about 33% since October and dealers have a ton of excess inventory and bills coming due soon. Meanwhile, incentives from manufacturers have never been as strong as they are today with 0% financing, cash rebates, and even a no-hassle return policy if you lose your job at some companies!

Tax-protected retirement accounts, including 401(k)’s and Roth IRA’s, should be just one of three parts of a retirement plan. Personal savings and Social Security represent the other two elements of a good retirement plan. A survey from ING Direct found that one in five Americans are relying exclusively on Social Security, while the national savings rate has been negative for many years.

For better or worse, the economic recession has been a day of reckoning for many Americans. The national savings rate has increased sharply as spending has pulled back, but many continue to pull money out of the stock market at a time when prices are low. Combined, this is bad news for the retirement prospects for many Americans.

A recent study showed that consumers cut their spending for a sixth month in a row, while the personal savings rate rose to its highest level in the last six years. This is good news considering that 401(k) contributions may now be at risk. Another survey found that 29% of employers intend to reduce or eliminate 401(k)/matches, and another 12% plan to do so in the next 12 months.

In the end, conscientious consumers may want to continue their savings habits well after the recession lists and wages increase. With many employers cutting 401(k) plans at a very inopportune time, they may find that savings is one of the best ways to save for retirement.

Americans may not be happy with many insurance companies on Wall Street, but consumers are now taking matters into their own hands in an ironic twist of fate. The Wall Street Journal reported that more and more vehicles are being burned, “stolen”, and ditched in apparent schemes by owners to get insurance payouts and avoid hurting their credit ratings.

Authorities are reporting a growing number of cars dumped in the Great Lakes, burned along remote New Jersey roads, and driven into canals in California. However, the trend is most apparent in areas like Las Vegas, where thousands of workers are unemployed after a sharp decline in tourism and construction. One detective in the city reported four cars burned or wrecked in just 24-hours.

What are the alternatives? A good start is to call up your auto loan provider and try and work out an agreement to make lower payments. Often times, lenders will be very willing to negotiate lower payments if they feel that their loan is at risk of default. Another alternative may be to try and refinance the loan with a lower interest rate from a credit union or other financial institution.

In the end, consumers that turn to fraud to get ahead in life only complicate their problems. Instead of simply facing financial problems, they risk facing legal problems as well. Losing money is one thing, but losing freedom can be much worse…

College towns have always been known for their low unemployment figures thanks to large university systems providing droves of students and infrastructure. The picture is the same these days as a greater number of Americans turn to higher education as an alternative when out of work. In fact, of the six metropolitan areas with unemployment below 4%, three of them are college towns!

Many economists believe that highly skilled labor is to thank for low unemployment figures in college towns. One Harvard economics professor found that as the share of an adult population with college degrees increases 10%, wages for the population tend to rise by about 7.8%. As a result, this so-called “human capital” may be to thank for the success of many college towns.

Small businesses also find it very beneficial to operate in college towns as cheap talent can be found in student populations. In fact, a lot of labor can be obtained for free via unpaid internships that are required in many college classes. These lower payroll costs and overhead expenses can help college town businesses increase their output substantially.

However, while these cities have been known to be recession-proof for some time, the big question is whether they can outlast the largest recession in at least a quarter century. Student populations may be rising, but many universities are seeing lower endowments and less state funding. As a result, one of the largest employers in these towns (the colleges) are not hiring as much as they were able to earlier.

The spreads between saving and lending has created a substantial profit margin for many banks. These banks are looking to draw in more savings and checking account holders to take advantage of this spread and increase their profits. As a result, many are paying above-average interest rates on not only savings accounts, but also checking accounts! This article will take a look at some of the best deals around.

The first step for consumers may be to check out web sites like CheckingFinder.com, which offer consumers a way to locate and sign-up for high yield free checking accounts. Often times, these checking accounts do not charge any fees or have any minimum for opening. However, some may require you to use your debit card at least ten times, have direct deposits setup, or access online banking at least once.

Increasingly, these high yield checking accounts are being used by local community banks to help beat out larger national competition. In 2007, just 350 banks and credit unions were offering these types of accounts. Now, that number has jumped to 526 institutions with 912,000 accounts and around $9 billion in deposits, according to an article on Yahoo! Finance.

The interest rates being paid are substantial too – rates in the author’s area vary from 4.10% to 5.15% APY. That’s not bad for a free checking account…

There is an old standard set in the United States called the 28/36 rule, and many financial advisors are recommending it for their clients. The rule states that households should spend no more than 28% of their gross income on housing costs – including mortgage, property taxes and insurance – and less than 36% on all debt – including car payments, student loans, credit cards, and medical debt.

The idea behind the 28/36 rule is to encourage people to take things more slowly and reform their lives now before their problems get too large. According to the Census Bureau, many people are spending much more than that with 38% of homeowners spending more than 30% of their monthly gross income on housing costs. Worse, about 12% of homeowners spent more than half of their income on housing.

Such huge spending on housing and debt servicing costs leave little room for food, gas, transportation, utilities, child care, and other expenses that can affect households. The advice may seem elementary to some people, but many people have strayed far from the basics and the lessons may be necessary to embrace before things get much worse down the road.

Many Americans may find their tax bill excessively large this year given the sharp reduction in their net worth. As a result, many may want to get on a payment plan in order to ration the money that they have while still making payments on their tax bill. Luckily, the IRS offers payment plans and installment agreements that can make this process relatively easy for individuals.

The first thing to remember is that tax extensions are not the same thing as payment plans! Extensions allow individuals more time to file their returns, but still require individuals to make payments on the returns on time. As a result, those looking for payment plans to ease their financial burdens must follow a different process that we've outlined below.

Individuals have two options depending on how much money they owe the government. The first option is the Online Payment Agreement (OPA) for those that owe less than $25,000 in combined tax, penalties, and interest. Individuals can either complete the agreement online or fill-in a Request for Installment Agreement (or Form 9465, in IRS-speak), which is also available online.

Individuals with more than $25,000 in combined tax, penalties, and interest may still qualify for an installment agreement, but a Collection Information Statement (or Form 433F) may need to be completed first. Individuals will receive a written notification telling them whether the terms of the installment agreement have been accepted or if they need to be modified.