January/February
2011
FSS -Your Stepping Stone
“You can’t turn back the clock.
But you can wind it up again.”
- Bonnie Pruden
The Dawn of a New Year
Special points of interest:
 Make your goals stick
 Great ways to spend your income
tax return
 Renter‟s Insurance
 History of Valentine‟s day and
way to spend it with loved ones
 Save money
 Inexpensive ways to take care of
yourself and your family
Inside this issue:
Helpful Hints on How to Spend
Your Income Tax Return
2
How to Protect Your Belongings
When you Rent
2
Will You Be My Valentine?
3
Save a Pile of Money with a Few
Simple Tricks
3
What’s the difference between a
Credit Union and a Bank?
3
What’s Happening in Dubuque
4
Health and Wealth
4
2011 has finally arrived. All of
us at FSS wish you a very happy
and successful New Year! Some
of us get excited about the new
year and some of us simply look
at it as another year. One of the
New Year‟s traditions is to
make a New Year‟s resolution.
If you made one great! If you
didn‟t, that‟s fine too.
here are a few pointers to set
and achieve them.
smoking.” It‟s the same goal
but with a positive twist.
Mindtools.com suggests the
SMART system which works like
this:
If you don‟t get into the idea of
New Year resolutions, don‟t
stop here, keep reading! A New
Year resolution is just another
saying for the word “goal”.
Don‟t roll your eyes! If you are,
I‟m willing to bet it‟s because
past resolutions haven‟t been
achieved.
R– relevant
Try your goal out in small
steps. Using the smoking
example try a goal like: “I am
going to take better care of
myself by cutting down to 10
cigarettes a day instead of the
current 20 cigarettes a day. In
one month I will only smoke five
cigarettes a day. In two months,
I will no longer smoke, hoorah!”
Sometimes people have
difficulty achieving their goals is
because they don‟t know how to
set them. Whether you want to
make a New Year‟s resolution
or simply set any kind of goal,
Use positive wording when you
set your goals. For example,
“Quit smoking” is a great goal
but “quit” itself can be
perceived as negative. Try this:
“Take care of myself by not
S– specific
M– measurable
A– attainable
T– trackable
Think about what you want to
achieve and write it down. Be
specific. Write out your goal,
how you plan on achieving it,
and when you would like to
achieve it.
Don‟t forget to prioritize your
goals. Work on the most
important first. Lastly, don‟t
beat yourself up if you miss the
deadline for achieving your
goal. Focus on what you‟ve
already accomplished and pick
up your progress from there.
Remember, you always have
FSS support. May the New Year
bring you lots of success!
Income Tax Time!
Income tax time is something
most of us look forward to if we
qualify for an income tax
refund. If you were employed in
2010 and made at least
$400.00, you have to file
income taxes for 2010. If you
didn‟t work, you may still be
eligible for an income tax
return.
Here are some things to think
about when filing your taxes.
Avoid taking “income tax loan.”
This is when a company files
your taxes, figures out your
return, and gives you the money
up front. This is just like a real
loan. You have to pay it back
and you have to pay interest.
Suze Orman, a personal
financial expert, suggests
asking your tax advisor if you
can take any additional
exemptions on your regular
check. This is money that goes
straight to your pocket each
paycheck. Having that extra
money can be beneficial. Be
careful not to take so many
exemptions that you end up
paying in to your taxes when
you file for the next year.
(www.suzeorman.com). For
information on Free Tax Sites
call 211 or go to St. Matthew
Lutheran Church (AARP)
Monday through Friday from
February 1st– April 14th
12:30pm-3:30pm. Walk-ins
only.
Page 2
FSS -Your Stepping Stone
Helpful Tips on How to Spend your Income Tax Return
An income tax return can be a
breath of fresh air and a little
bit of relief. For some of us, we
don‟t know what to do with the
money. Here are a few helpful
tips on how to spend your tax
return dollars.
Review your bills (I know ugh!)
Pick a bill with the highest
interest rate. Pay a large chunk
of that bill, or better yet, pay it
off. Steep interest rates can
keep piling on the debt and
weigh on your mind. If you have
any bills like rent or utilities that
you‟re behind on, catch up. If
you can only make the
minimum payment on other
bills like a credit card, pay a
little more than the minimum
payment required with your
income tax return. Paying down
some of your bills will help you
reduce stress and give you a
sense of freedom.
Now that you‟ve taken care of
some bills, put a little away in a
savings account. Keep in mind
that your bank or credit union
pays YOU to save your money
with their institution. The few
dollars you put in a savings
account, could turn in to an
extra few dollars down the road.
Think of it as free money!
Finally, spend a little bit on
yourself or your family. Take
yourself and your kids out to a
movie, buy a new outfit, or get
your hair done. Whatever
makes you happy and feels
good. Treating yourself is one of
the best investments you can
make as long as its not
excessive.
How To Protect Your Belongings When You Rent
“If your home is
destroyed...Additional
Living Expense will
cover hotel costs,
restaurant bills, and
other expenses while
you’re waiting to move
back into your home.”
Did you know your landlord
has insurance to cover damage
to the building you rent but it
does not include your
belongings? Your things are
important and replacing them in
an unforeseen disaster can be
difficult and put you in a pinch.
You can purchase Renter‟s
Insurance to cover some of the
expenses in an unforeseen
event such as a fire. According
to Peublo.com, there are three
main insurance policies. The
first is a Personal Possessions
plan. If your possessions are
damaged because of fire,
smoke, lightning, vandalism, or
robbery, your possessions will
be covered.
Make a list of your property
such as electronics, appliances,
jewelry, clothing, and other
belongings and estimate the
value. These items should be
turned in to your insurance
agent and expenses will be
covered depending on your
policy.
Renter’s insurance will protect your
belongings in the event that something
happens to your home.
Types of policies: Actual Cash
Value and Replacement Cost.
Actual Cash Value Policies will
pay for your belongings for what
it is worth today. For example,
two years ago you bought a TV
for $700.00 but it‟s only worth
$400.00 now. Actual Cash
Value policies will only pay
$400.00 for your TV to be
replaced.
Replacement Cost pays the
full amount of what you paid
when you originally bought the
item. So that $700.00 TV you
bought two years ago that is
only worth $400.00 today,
Replacement Cost insurance
will pay you the full value of
$700.00.
The second kind of insurance
policy is Liability. You‟ve heard
the story about someone falling
in your driveway and you get
slammed with a lawsuit.
Liability Insurance protects you
from lawsuits and covers the
injured parties medical
expenses. Property damages or
injuries inflicted on others at
the fault of you, your family
members, or your pets is
covered with Liability Insurance.
However, damage to your own
property at your fault is not
covered.
The third kind of insurance is
Additional Living Expenses. This
kind of insurance is supposed
to be included in all insurance
policies. If your home is
destroyed and you have
Renter‟s Insurance, your living
expenses are covered until your
home is re-built and ready for
you to move in. Additional Living
Expense will cover hotel costs,
restaurant bills and other
expenses while you are waiting
to move back into your home.
When purchasing Renter‟s
Insurance, shop around and
price compare. Sometimes you
can get discounts on your
Renter‟s Insurance if you
already have an insurance
policy with the same company.
Here in Dubuque, the average
rental insurance policy costs
anywhere between $100.00
and $150.00. Pay close
attention to the deductible. A
deductible is how much you
have to pay before insurance
pays. Pueblo.com suggests
purchasing a $500.00 or
$1,000.00 deductible.
Make sure you purchase a
policy from a company that
thoroughly answers your
questions and treats you with
respect.
For more information check
out Pueblo.com.
January/February
Page 3
Will you be my Valentine?
Apparently it is unclear who
Saint Valentine is and how his
story developed into one of the
most celebrated holidays.
According to History.com,
Valentine‟s day has it‟s roots in
Christian and ancient Roman
traditions.
The most well known story
about Saint Valentine is that he
was a man who was imprisoned
for helping Christian‟s escape
Roman law. It‟s believed that
when Valentine was in prison,
he sent the very first Valentine
to a girl he was in love with. He
signed it “From your
Valentine” (history.com).
Another version of who St.
Valentine is comes from ancient
Rome. The emperor of Rome,
Claudius II, forbade young men
from getting married because
he felt they were more effective
soldiers. Saint Valentine, a
young priest, defied Claudius II
and married young couples in
secret ceremonies. When
Claudius discovered what the
young priest was doing, he sentenced him to death.
Now that you‟re brushed up on
your history, here are some
ways that you can enjoy your
Valentine‟s day.

Make gifts for you loved
ones, they actually do
come from the heart

Get together with your
friends and family

Watch a classic movie like
Three Coins in a Fountain
(1954)

Watch a comedy and laugh
with your loved ones

Appreciate your loved ones
all year „round. You don‟t
need one day of the year to
express your love for the
special people in your life
Happy Valentines!
Save a Pile of Money with a Few Simple Tricks
Saving a few dollars here and
there doesn‟t seem like much,
but over time you‟d be amazed
at how much money you can
save. Here are a few simple
tricks offered in Consumer
Literacy Consortium‟s 66 Ways
To Save Money (3rd ed).

Keep your tires inflated at
the proper pressure.

Save your money at a bank
or credit union who have
free checking accounts
and no minimum balance
required in the account.



Use your bank or credit
union‟s ATMS to withdraw
money. There are usually
fees for withdrawing
money from a different
ATM and those fees can
add up.
Mail your bill payments
about ten days early to
avoid late fees. Some late
fees can be as much as
$30.00 or more!
Pay more than the
minimum balance required
on your bills.

Don‟t respond to Credit
companies who send you
Pre-Approved credit cards.
These cards usually have
high interest rates and they
are counting on you to pay
late and over the limit fees.

Make a grocery list before
you go shopping. Sticking
to your list will help keep
you from impulse buying.

Plan your meals according
What’s the Difference Between a Credit Union and a Bank?
You may have thought that
there was no difference
between a credit union and a
bank, but there are major
differences.
Banks are owned by private
investors and run by
stockholders for profit.
Credit Unions are non-profit
organizations and owned by it‟s
members. Member‟s have the
opportunity to elect board
members who run the credit
union.
Credit Unions tend to offer
better interest rates for loans
and credit cards. They often
provide free checking, overdraft
protection (ask for it), and a
minimal amount of money
required to open an account.
Where ever you decide to have
an account, make sure your
bank or credit union has
Federal Deposit Coverage
(FDIC) or National Credit Union
Administration (NCUA)
coverage. This protects the
money in your account up to
$100,000.00 or $250,000.00
if your bank or credit union goes
bankrupt. If your bank or credit
union does not have this
coverage, you will lose all of
your money if they go bankrupt.
For more information go to
www.wdfi.org
“Mail your bill
payments about ten
days early to avoid
late fees. Some late
fees can be as much
as $30.00 or
more!”
What’s Happening in Dubuque?
City of Dubuque
Housing and Community
Development Department
350 West 6th Street Ste 312
Dubuque IA 52001
(563) 589-4230
[email protected]
[email protected]
www.cityofdubuque.org /FSS
The Miracle of Mindfullness - Series of three Tuesdays February 8, 15, 22nd
$24.00 for all three. Go to shalomretreats.org for more info. Register by
Friday February 4th.
Family Reading Night February 10th at the Multicultural Family Center
6 pm-admission is free. Register by calling 563-582-3681.
Family Cooking Class February 15th at the Multicultural Family Center
5:30 pm admission is free. Register by calling 563-582-3681.
Consignment Auction– Auction benefits Camp Albrecht Acres February
19th 10am . Takes place at Camp Albrecht Acres.
“Normal People Scare Me” Documentary of a boy with autism @ Mercy
Tuesday, February 22nd 6:30 pm Register by calling 563-589-9600.
Public Script Reading– Multicultural Family Center in honor of Black
History Month February 25th 7pm.
For more information and more events not listed, go to
www.dubuque.chamber.com
Self Sufficiency Experience
“Everyday do something that will inch you closer to a better tomorrow.”
- Doug Firebaugh
Health and Wealth
When it comes around to a new year, many of us think about money because its time to file for an
Income Tax Return. Most of this Newsletter is dedicated to money and how to save and spend it wisely.
No matter what you do with your money, the best way you can invest is in yourself and your health.
There is a common misconception that you need a lot of money in order to buy healthy food and that
health club memberships have to be purchased in order to get exercise. There are many free and
inexpensive exercises that benefit your health just as well as a gym membership. Even better, if you
have kids, you can engage them in these activities to help them form healthy habits and have fun
together.
Try jump roping. Jump roping can burn up to 11 calories a minute! (fitandhealthy.com) If you have
kids, you can have a jump rope contest with them. If it‟s been awhile since the last time you jumped
rope, then I bet there will be a lot of laughing.
You have the benefit of living in a beautiful city on a river. Take some time to walk along the river on a
nice day. Enjoy the scenery and the peacefulness.
Dubuque is a city full of hills. Instead of this being a downfall, use it to your advantage. Add some hills
to your regular walk. Walking up and down hills will help burn a few extra calories.
Farmer‟s market is just around the corner. That‟s a great time to buy fresh and healthy produce and
it‟s usually cheaper than a grocery store.
If you have a little bit of extra space in your yard or room to have potted plants, then grow your own
vegetables. This will help save money and if you have kids, they can feel a sense of accomplishment for
watering the plants and seeing them grow.
Julien Dubuque Bridge