Stocks: Ready to close out a record-setting year

Click on the image to see the latest premarket data.

NEW YORK (CNNMoney)

U.S. stock futures were relatively flat ahead of the opening bell -- with the Dow Jones industrial average hovering near the all-time high it set Monday.

Over the course of December, the main U.S. stock market indexes have risen by 2% to 3%. This caps off a record-setting year that saw the Nasdaq surge nearly 40% to hit a 13-year high, while the Dow and S&P 500 both hit record highs.

Related: Fear & Greed Index

There are a few economic data releases that could influence market sentiment in the day ahead.

The latest edition of the Case-Shiller 20-city home price index will be released at 9:00 a.m. ET Tuesday. At 10:00, the Conference Board will release its monthly consumer confidence index.

Related: Insanely pricey New Year's Eve parties

European markets were inching ahead in morning trading. The exchanges in London and Paris are set for an early close, while the stock exchange in Frankfurt was closed.

Asian markets ended with mixed results and markets in Tokyo were closed. Japan's benchmark Nikkei index rounded out 2013 with its biggest annual rise in more than 40 years.

First Published: December 31, 2013: 5:26 AM ET

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Starting the new year in Obamacare limbo

Some Obmaacare applicants may not realize they aren't insured until they pay their first premium.

NEW YORK (CNNMoney)

Insurers and health care providers are bracing for some chaos at the start of 2014 when the newly insured begin to use their Obamacare health coverage.

Because of the repeated, last-minute deadline extensions, some applicants' enrollments may be incomplete in insurers' systems on Jan. 1.

This is particularly true of those who wait until after the first of the year to pay. Many insurers are giving consumers until Jan. 10 to send in their first payment and will make benefits retroactive to Jan. 1. But coverage will not actually take effect until the payment is processed.

There could also be errors in the files being transmitted by Obamacare exchanges to insurers.

"There's no question, it's a little bit complicated," said Susan Millerick, an Aetna spokeswoman. "There could be a gap, which is regrettable, but at this point unavoidable."

Here's how it will work in many cases: If you go to the pharmacy or doctor before you've made your first payment to your insurer, you may have to shell out the entire amount upfront and then file for reimbursement.

If you have paid but there's a problem with your coverage, you may have to spend time with the insurer's customer service line.

Insurers say they will be flexible, and many insurers have beefed up their call center staffs.

Share your story: Are you signing up for Obamacare?

Before they seek care, consumers should make sure they have their ID card in hand, insurers say. Once applicants' payments are processed, most insurers will allow them to print a temporary card from the company website so they don't have to wait several days for it to arrive in the mail. If that's not possible, patients can ask providers to call insurers to verify coverage.

Some providers may be willing to bill the insurer before collecting payment from the patient, said Rick Yearry, chief external affairs officer for Montana Health Co-Op, an insurer.

Newly insured Obamacare patients visiting UnityPoint Health Jones Regional Medical Center in Iowa will not be asked to pay in full upfront, said Eric Briesemeister, the hospital's chief executive. The hospital will inform them of their financial responsibility should the insurance not go through, but it will wait for coverage to be set up before billing.

At the clinic associated with the medical center, schedulers might ask patients to wait until their coverage is in effect. But it will also see consumers regardless and bill later.

"We would go ahead and take care of them," Briesemeister said.

Pharmacies are also preparing for handling patients whose coverage is in question.

They have had more recent experience with these types of problems. When Medicare's prescription drug coverage was implemented in 2006, there were many seniors left in limbo. The federal government told pharmacies to fill the prescriptions and it would catch up on the paperwork later, said Michael Leavitt, who was health and human services secretary at the time.

Walgreens is working with both insurers and customers to minimize problems at the pharmacy counter. The company is asking insurers to send nightly updates of its enrollment files so it can locate customer ID numbers of customers, while asking customers to try to get their ID numbers from their insurers before coming in.

But for customers whose ID numbers can't be found, the pharmacy giant says it will fill up to a 30-day supply of traditional brand or generic medicine as long as the person can show proof of enrollment. Walgreens could find itself on the hook by doing this, but hopes it will be reimbursed by the insurer once the customer's paperwork is settled.

"We understand the challenges this presents to certain people," said Kermit Crawford, president of the pharmacy, health and wellness division at Walgreens, which has 8,100 locations in all 50 states. "Helping insured Americans during the transition period is not only good for us, but good for our patients."

Of course, some newly insured will have to shell out large sums when they visit the doctor or pharmacist even if their insurance is in order. That's because many Obamacare plans, like many insurance policies, have large deductibles that must be met before insurance kicks in. Consumers should make sure they know their obligations before they seek care.

First Published: December 31, 2013: 4:19 AM ET

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Help for homeless college students

A handful of schools, aid organizations and advocates from across the country are taking steps to help homeless college students.

NEW YORK (CNNMoney)

Getting into college itself can be a major challenge for homeless teens. And even if they're determined, resourceful or lucky enough to receive the financial aid or scholarship money that makes attending college possible, new struggles often arise.

While they may live in dorms for the majority of the school year, some students have nowhere to go during breaks and are forced to pay fees to stay on campus -- which can be difficult or impossible to afford. Some of these students are too embarrassed to ask for help, while others are turned down when they ask to remain on campus, leading them to sleep outside, on friends' sofas or in shelters.

The issue has come into the spotlight recently: New legislation seeking to assist homeless college students was introduced last month, and a petition started by a student urging her college to allow homeless students to stay on campus during breaks has garnered more than 100,000 signatures.

After our recent article ran about this issue, CNNMoney received more than 60 emails from readers sharing their own stories of being homeless at college or asking how they can help.

Related: Homeless college students seek shelter during breaks

Here are some of the efforts being made.

Colleges and students step up: Kennesaw State in Georgia created a CARE Center this May, which helps students with needs like jobs, shelter and food. The school also hosts Homelessness Awareness Week, where students sleep outside for a night and can attend a full-day conference to learn more about the issue.

"Homelessness is affecting college students across the nation; yet it remains an underserved and/or unrecognized population," Kennesaw said in a statement. "KSU aspires to be a leader for social justice and change by eradicating homelessness on its campus."

After a survey of students two years ago revealed that nearly 7% had experienced or were currently experiencing homelessness while enrolled, the Community College of Denver decided to take action. It designated a housing expert in its student life department who helps homeless students with housing needs, and has established a food pantry and an emergency fund for those in need.

Related: Pay $2,000 to be homeless

Meanwhile, West Virginia University launched a food bank in 2010 called "the Rack," for homeless or financially struggling students.

"[It] went from a wire shelf with canned goods to a full-blown food bank with six freezers, as well as meat distribution days and much more," said alumni Ben Dotson, who helped start the program. "My best friend could barely cover the costs of college and if it wasn't for the Rack and that his fast food job allowed him to take home extra food I do not think he would have been able to make it."

Aquinas College, in Grand Rapids, Mich., is currently looking into ways it can help homeless students who don't have anywhere to go during breaks. This became a priority after Jessie McCormick, a homeless senior, launched a Change.org petition urging the school to do more to help homeless students like her.

Some are more entrepreneurial in their quest to help.

Aris Nance, a 23-year-old student at Dakota State University in Madison, S.D., who was homeless himself until a couple months ago, just launched a nonprofit called Sheo (Someone Helps Everyone) that creates survival kits for the homeless.

The kits include basics like a toothbrush, first-aid supplies, a list of emergency contacts and clean t-shirts. Nance wants to partner with schools and homeless organizations to provide them for free. But first he needs the funding to create the kits -- so far he has only done a few.

"I just gave two kits to [college students] I know who are going to be stuck on campus during Christmas break," said Nance.

Related: Student homelessness hits record high

How you can help: The National Association for the Education of Homeless Children and Youth offers a scholarship program that helps students with college costs and housing. It also has a higher education initiative that is urging colleges to change their policies to assist homeless students. Anyone who wants to support these efforts can donate money directly to NAEHCY.

Various organizations, like the Los Angeles Youth Network, also help runaway and homeless young adults apply for college and secure scholarships and financial aid.

The National Law Center on Homelessness & Poverty, meanwhile, has a program called Project Learn that helps students apply for college. It also ensures that homeless children are granted their legal rights, like receiving free transportation to and from school and getting free school meals. Donations can be made directly to the program here.

If you want to help out locally, you can contact your state homeless education coordinator. Find the coordinator closest to you here.

Related: North Dakota sees surge in homeless population

Some communities also have "Host Home" projects where you can open up your home to a student after you go through a background check. Runaway & Homeless Youth Act shelters and housing programs, which are scattered around the country, also provide free shelter for college students and need donations. You can look for a program near you by using this map.

Advocates recommend that you urge your local Congress member to support recent legislation introduced by Senator Patty Murray of Washington. Murray's bill would require colleges to secure housing for students during breaks, provide a point of contact for homeless students and mandate schools to ask questions about homelessness in college applications so they can help them access financial aid.

First Published: December 31, 2013: 4:24 AM ET

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Federal workers get first raise in 3 years

Federal workers will get their first cost-of-living pay hike in three years this month.

WASHINGTON (CNNMoney)

The raise came about because the budget deal Congress passed in October to end the government shutdown allowed the modest federal pay raise after Jan. 1.

On Dec. 23, President Obama officially issued the order raising pay for the 2.1 million civilian federal work force and active military. While civilians have missed out on cost-of-living increases in the past few years, pay hikes tied to promotions and bonuses have been allowed.

The raise won't show up for many employees until around Jan. 17, the pay day for the first two weeks of 2014, according to the General Services Administration.

The hike is a bright spot for federal workers who weathered 16 days of furlough during the October shutdown, though they got paid back, as well as several unpaid furlough days through out the summer due to forced federal spending cuts.

Related: Minimum wages to rise in 13 states on Jan. 1

Also, as colleagues retire, some workers who remain on the job face larger work loads, because dozens of federal agencies have stopped hiring due to budget cuts.

The hits are taking a toll. This month, a survey of federal employees reported the lowest level of job satisfaction in 10 years, according to the Partnership for Public Service and Deloitte Consulting.

"Psychologically, it's very valuable for the federal work force to see that there's some recognition for the work that they do," said John Palguta, vice president for policy at the Partnership for Public Service, a nonprofit that advocates for efficient government.

House Republicans have argued over the years that federal workers contribute to large deficits. Republicans suggest that federal worker pay and benefits are more generous than the private sector.

A 2012 report from the nonpartisan Congressional Budget Office found that federal employees get 46% better benefits on average compared to the private sector.

Related: My jobless benefits are ending

But when it comes to pay, it isn't that simple.

Federal employees, on average, make $77,414 a year in wages, about 44% more than private-sector employees' $53,463, according to the Bureau of Economic Analysis. The difference in pay is often due to higher education levels in the federal workforce, more white-collar jobs and the concentration of jobs located in Washington, a more expensive place to live than other parts of the nation.

First Published: December 30, 2013: 1:21 PM ET

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Insanely pricey New Year's Eve parties

About 1 million people are expected to ring in 2014 in Times Square. For a premium, you can avoid the crowds.

NEW YORK (CNNMoney)

Bars, restaurants, clubs and even Madame Tussauds wax museum are pulling out the stops to throw extravagant parties ringing in 2014.

Of course, you don't have to spend a dime to watch the ball drop in New York City's Times Square - a frigid, standing-room-only affair with 1 million of your closest friends. Arrive early, organizers say, and don't expect bathrooms.

But to avoid the crowds, you'll have to pay a premium.

For about $8,500, for instance, you can celebrate at the R Lounge in Times Square, which claims to have the "most coveted view of the ball drop." That price includes "full premium open bar," hor d'oeuvres, a gift bag and a "butler passed breakfast" after the ball drops. But it doesn't include a room to stagger home to in the attached hotel, which will set you back another $1,500.

Related: Boost your career in 2014

Even the Applebees in Times Square is advertising New Years Eve tickets for $375 -- many times its usual $20 dinner for two people -- but there's a pretty big catch. The offer's fine print notes that "seating is on a first come first served basis," and that guests will have to step outside to watch the ball drop, "subject to NYPD approval."

Tickets to the festivities at the nearby TGI Friday's range from $225 to $1,095. While there is a three-hour TGIF open bar, the venue won't offer any views of the ball drop, since it's seven blocks away from the main event.

For a more offbeat evening, tickets to the party at Madame Tussauds wax museum starts at $165, and even includes a with a view of Times Square. Celebrating with the two-headed calf at Ripley's Believe it or Not could cost you as much as $995.

But the most expensive New Year's celebration may be in Miami. Cameo Nightclub is offering a $100,000 package that includes a private meet and greet with performer Lil Wayne, plus 75 bottles of champagne and liquor. (Price includes tax, but not the $6,000 service fee.)

Related: 5 reasons stocks will go up in 2014

If that's not your scene, The Palm in Dubai is promising champagne and a "luxury buffet" -- plus an attempt to host "the world's biggest ever fireworks display." Those tickets sell for about $870.

There is another option: just stay home.

"In New York City, it's such a miserable night," said Anderson Cooper, who watches over the Times Square celebrations from a CNN platform studio. "There are no cabs. You can't get anywhere. ... There's no reason to go out. It's miserable."

"It's so much more fun," he added, "to just stay at home and watch us."

First Published: December 30, 2013: 5:11 PM ET

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Silicon Valley investor: Split California into 6 states

Is California too big to govern? Big-name Silicon Valley investor Tim Draper is pushing a voter initiative to split the state up.

HONG KONG (CNNMoney)

Tim Draper, a third-generation venture capitalist with a penchant for big ideas, is promoting a plan that would split California into six separate states.

The proposal calls for the creation of new states called Silicon Valley and West California that would be anchored by the cities of San Francisco and Los Angeles. Orange County and San Diego would be part of the new state of South California. To the north, remaining counties would be divided into regions called Central California, North California and Jefferson.

Why now? According to the proposed ballot initiative Draper filed earlier this month, the Golden State has been rendered "nearly ungovernable" by social and economic changes.

California has 58 counties, nearly 40 million people and an economy so large that it would rank among the top 10 countries in the world.

But given the state's diverse geography and industries, Draper's ballot initiative argues that the "citizens of the whole state would be better served by six smaller state governments."

"I am endorsing this initiative because it is a way to localize governance and bring more representation to the local level," Draper said in document distributed to reporters. "I am planning to work to get it on the ballot."

The plan would also create a "marketplace" for governments, and voters in each county could pick and choose which state they wanted to be part of.

Related story: 9 tech startup CEOs on the best and worst of 2013

Draper will need to collect thousands of signatures for the measure to be brought before voters in November. With seemingly little current popular demand for partition, gathering enough support to make the ballot could prove difficult.

The initiative would raise raise some thorny issues, including the division of water rights -- a life and death economic matter in the deserts of Southern California. There would also be significant Constitutional questions to resolve.

The third-largest state in terms of area behind Alaska and Texas, California has long managed to resist division.

Like Draper, advocates for partition in counties near the Oregon border have in the past evoked the "Jefferson" name while pursuing statehood -- a reference to the president who dispatched Lewis & Clark to the Northwest.

Draper founded the Silicon Valley venture capital firm Draper Fisher Jurvetson in 1985, and is now running Draper University, an entrepreneurship program. The California native is well known in Silicon Valley for his investments and appearances on a Nickelodeon TV show called "The Naked Brothers Band."

First Published: December 30, 2013: 8:53 PM ET

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4 money resolutions to make now

NEW YORK (CNNMoney)

More than half of respondents in a recent Fidelity Investments survey said they typically consider making financial resolutions, up from 35% of those surveyed in 2009.

Of those keeping their finances in mind, 54% vowed to save more -- making it the top resolution, trailed by paying off debt (24%) and spending less (19%).

It's always a good idea to try to save more and set up a budget you can stick to. But here are some money resolutions that are especially important for 2014.

Related: Your #moneyresolutions for 2014

1. Don't be too risky with your investments

2013 has been a fantastic year for the stock market and that likely means that your nest egg is invested more heavily in stocks than it was at the beginning of the year.

As a result, now is the time to rebalance your investment portfolio to make sure that you have a proper allocation of stocks and bonds for your age and risk tolerance, said Judith Ward, a senior financial planner at T. Rowe Price.

One rule of thumb: subtract your age from 120 to determine how much of your investments should be in stocks. For example, a 50-year-old should have up to 70% in stocks -- or $105,000 of a $150,000 portfolio.

Rebalancing is easy to do. In your 401(k), for example, simply sell some of your stock investments and invest that cash in bonds. And since you don't pay taxes until retirement, the sale won't come with any extra tax headaches.

"It's counter intuitive to sell the class that's doing well, but if you let that ride and it goes down, it's a harder fall," said Ward.

Related: Are you saving enough for retirement?

2. Stop checking your statements so often

Once you've figured out that perfect investment mix, you should resolve to leave it alone.

Your nest egg will be built up over decades of savings, so short-term market fluctuations will be overshadowed by long-term gains, said Jonathan Clements, director of financial education for Citi Personal Wealth Management.

"We buy these mutual funds we plan to hold for years and years. But then we start looking at our accounts every day," he said. "If you're really saving for your retirement that's 30 years away, why does it matter?"

3. Take advantage of low interest rates

Hoping to buy a home or lower your monthly debt payments? It's a good idea to act soon.

The Federal Reserve is beginning to pull back on its monthly bond-buying program. Mortgage rates have already risen in anticipation of the Fed's pull-back, so rates are expected to rise only gradually.

Still, the 3.5% mortgages offered as recently as last summer aren't likely to resurface, so if you're thinking of buying a home, act soon before rates rise further. A 1% increase in 30-year fixed mortgage rates costs around $60 more a month for every $100,000 you borrow.

It's also a good time to closely reexamine your debt, from car loans to home equity loans, for refinancing opportunities, said Lynn Ballou, a California-based financial planner. Variable interest rates, such as those you might have on a car loan or private student loan, are inexpensive now since they are tied to the prime rate, which has been at 3.25% since the end of 2008.

But those loans will get more expensive in coming years when rates finally return to normal as the economy strengthens. At the beginning of 2008, the prime rate was more than 6%.

So if you plan to take more than a few years to pay off a variable-rate loan, shop around to see if you can lock in a fixed rate. "If it's more than a couple of years out, this is a good time to see what your options are," Ballou said.

Related: What do you most want for your career in 2014?

4. Get your taxes in order

October's government shutdown is delaying the coming tax season by 10 days, which means that early bird filers may have to wait a bit longer to receive their tax refunds.

If you're anxious to get your refund, make sure to file online, which will be processed more quickly than filings made by snail mail, said Gary DuBoff, a New York-based accountant and managing director at CBIZ MHM, a financial services firm.

There are also a variety of popular tax breaks expiring or shrinking at the end of 2013, so you'll want to prepare for how that could affect future tax bills.

First Published: December 30, 2013: 3:19 AM ET

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Minimum wage to rise in 13 states on Jan. 1

NEW YORK (CNNMoney)

While most of the increases amount to less than 15 cents per hour, workers in places like New Jersey, Connecticut, New York and Rhode Island will see a bigger bump.

Earlier this year, New Jersey residents voted to raise the state's minimum wage by $1 to $8.25 per hour. And lawmakers voted to hike the wage by between 25 cents and 75 cents per hour, to $8.70 in Connecticut and $8 in Rhode Island and New York.

Residents in Arizona, Colorado, Florida, Missouri, Montana, Ohio, Oregon, Vermont and Washington will see a higher wage floor due to annual cost of living adjustments.

The Economic Policy Institute, a left-leaning think tank, used Census data to estimate that the increases will boost the incomes of 2.5 million low-wage American workers next year.

Related: 2013 minimum wage, state by state

Currently, 19 states have minimum wages set higher than the federal level of $7.25 per hour. Once the changes take effect on Jan. 1, the number rises to 21.

Wage increases are also set to take place at the local level. Voters recently approved a raise to $15 per hour for many workers in SeaTac, a tiny town centered around the Seattle-Tacoma airport in Washington. A judge ruled this past week that parts of the measure were not valid: The city could impose the minimum wage for some of the affected workers, the judge said, though not all. Supporters of the increase plan to appeal.

The push for $15 an hour could soon move beyond the one small town. Seattle's mayor-elect has said he plans to also raise the city's minimum wage to $15. Washington currently has the highest state minimum wage at $9.19 per hour.

Workers in San Francisco, San Jose and Albuquerque will also see wages go up.

Later in 2014, several other locales, including two counties in Maryland and Washington D.C., will raise their minimum wages. California is set to raise its minimum wage to $9 in July.

The piecemeal increases at the local level are occurring amidst a national debate over low wages and income inequality. Fast food and retail workers have been staging protests and walking off work for more than a year, calling for better pay and more hours.

Currently, fast food workers nationally earn an average of about $9 per hour. In September, Bill Simon, president and chief executive officer of Wal-Mart U.S., said that less than half of the company's U.S. employees make more than $25,000 per year.

Related: Half of fast food workers need public aid

Workers from McDonald's (MCD, Fortune 500), Wendy's (WEN), Burger King (BKW) and other fast food joints are calling for $15 per hour. Wal-Mart (WMT, Fortune 500) workers organizing as part of the union-backed OUR Walmart aren't asking for a specific dollar amount increase, but they say it's impossible to live on the wages they currently receive.

The workers have the backing of some lawmakers in Washington. Senate Democrats have proposed legislation to raise the minimum wage to $10.10 per hour and index it to inflation.

President Obama has been throwing his weight behind the issue. Earlier this month, the President said in a speech that it's "well past the time to raise the minimum wage that in real terms right now is below where it was when Harry Truman was in office."

But such legislation has a bleaker outlook if it reaches the Republican-led House of Representatives. House Speaker John Boehner has said that raising the minimum wage leads to a pullback in hiring.

Several recent polls, however, show that the vast majority of Americans are in favor of a federal minimum wage hike. A new ABC/Washington Post poll out last week shows that two-thirds of Americans support raising the minimum wage. More than one-third of respondents said they supported an increase to $9 per hour, while a quarter more were in favor of a boost to $10.

A CBS poll conducted last month found nearly identical results.

-- If you're seeing your wages increase on Jan. 1, or if we've missed naming your town among those raising minimum wages, we'd love to hear from you. Email us.

First Published: December 29, 2013: 9:49 AM ET

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Stocks: Losing steam as 2013 winds down

Click chart for in-depth premarket data.

NEW YORK (CNNMoney)

Little economic or corporate news is scheduled for the day and U.S. stock futures were drifting ahead of the opening bell.

Typically this time of year sees light trading volumes as many investors and traders take time off work.

The Dow Jones industrial average and the S&P 500 were little changed Friday, ending a lengthy streak of gains. The Nasdaq fell slightly. Each of these indexes has risen more than 25% in 2013.

Shares in Alcoa (AA, Fortune 500) were rising ahead of the open amid reports that Ford will reveal in January that it will start using military grade Alcoa metal in its best-selling F-150 pickups.

Related: Fear & Greed Index

On the international front, European markets were relatively flat in morning trading. Asian markets ended with mixed results.

Japan's Nikkei closed the day on a high note, rising 0.7%. The benchmark index has surged more than 50% since the start of 2013 as government policies helped boost investor sentiment.

First Published: December 30, 2013: 5:02 AM ET

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Minimum wage to rise in 13 states on Jan. 1

NEW YORK (CNNMoney)

While most of the increases amount to less than 15 cents per hour, workers in places like New Jersey, Connecticut, New York and Rhode Island will see a bigger bump.

Earlier this year, New Jersey residents voted to raise the state's minimum wage by $1 to $8.25 per hour. And lawmakers voted to hike the wage by between 25 cents and 75 cents per hour, to $8.70 in Connecticut and $8 in Rhode Island and New York.

Residents in Arizona, Colorado, Florida, Missouri, Montana, Ohio, Oregon, Vermont and Washington will see a higher wage floor due to annual cost of living adjustments.

The Economic Policy Institute, a left-leaning think tank, used Census data to estimate that the increases will boost the incomes of 2.5 million low-wage American workers next year.

Related: 2013 minimum wage, state by state

Currently, 19 states have minimum wages set higher than the federal level of $7.25 per hour. Once the changes take effect on Jan. 1, the number rises to 21.

Wage increases are also set to take place at the local level. Voters recently approved a raise to $15 per hour for many workers in SeaTac, a tiny town centered around the Seattle-Tacoma airport in Washington. A judge ruled this past week that parts of the measure were not valid: The city could impose the minimum wage for some of the affected workers, the judge said, though not all. Supporters of the increase plan to appeal.

The push for $15 an hour could soon move beyond the one small town. Seattle's mayor-elect has said he plans to also raise the city's minimum wage to $15. Washington currently has the highest state minimum wage at $9.19 per hour.

Workers in San Francisco, San Jose and Albuquerque will also see wages go up.

Later in 2014, several other locales, including two counties in Maryland and Washington D.C., will raise their minimum wages. California is set to raise its minimum wage to $9 in July.

The piecemeal increases at the local level are occurring amidst a national debate over low wages and income inequality. Fast food and retail workers have been staging protests and walking off work for more than a year, calling for better pay and more hours.

Currently, fast food workers nationally earn an average of about $9 per hour. In September, Bill Simon, president and chief executive officer of Wal-Mart U.S., said that less than half of the company's U.S. employees make more than $25,000 per year.

Related: Half of fast food workers need public aid

Workers from McDonald's (MCD, Fortune 500), Wendy's (WEN), Burger King (BKW) and other fast food joints are calling for $15 per hour. Wal-Mart (WMT, Fortune 500) workers organizing as part of the union-backed OUR Walmart aren't asking for a specific dollar amount increase, but they say it's impossible to live on the wages they currently receive.

The workers have the backing of some lawmakers in Washington. Senate Democrats have proposed legislation to raise the minimum wage to $10.10 per hour and index it to inflation.

President Obama has been throwing his weight behind the issue. Earlier this month, the President said in a speech that it's "well past the time to raise the minimum wage that in real terms right now is below where it was when Harry Truman was in office."

But such legislation has a bleaker outlook if it reaches the Republican-led House of Representatives. House Speaker John Boehner has said that raising the minimum wage leads to a pullback in hiring.

Several recent polls, however, show that the vast majority of Americans are in favor of a federal minimum wage hike. A new ABC/Washington Post poll out last week shows that two-thirds of Americans support raising the minimum wage. More than one-third of respondents said they supported an increase to $9 per hour, while a quarter more were in favor of a boost to $10.

A CBS poll conducted last month found nearly identical results.

-- If you're seeing your wages increase on Jan. 1, or if we've missed naming your town among those raising minimum wages, we'd love to hear from you. Email us.

First Published: December 29, 2013: 9:49 AM ET

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Stocks: Break out the champagne!

2013 has been a very good year for stocks.

NEW YORK (CNNMoney)

The final two weeks of the year are typically good for stocks, a phenomena known on Wall Street as the Santa Claus rally. Over the past 100 years, the Dow has gained in the New Year week 69% of the time, according to Schaeffer's Investment Research.

Ryan Detrick, senior technical analyst Schaeffer's, expects the momentum to continue in the near term as investors who missed the rally look for opportunities to buy into the market. While it's impossible to predict what stocks will do, "we don't anticipate anything rocking the boat," he said.

The Dow is up more than 25% and S&P 500 has gained nearly 30% so far this year. The Nasdaq has surged 38%. The Dow is on track for its biggest annual gain since 1996 and the S&P 500 is on pace for its strongest year since 1997.

Related: Are you a markets wiz?

Markets closed Jan. 1: U.S. markets will be closed Wednesday for New Year's day.

Economic reports: The economy will be in focus next week. Reports on home prices and consumer confidence are due, along with data on manufacturing activity and auto sales.

Investors will be watching all economic data closely, especially after the Fed announced plans earlier this month to begin scaling back its monthly bond purchases by $10 billion beginning in January.

Investors took the news in stride and many see the move as a sign the economy is likely just about strong enough to stand on its own.

Related: Best year ever for stock funds

The Federal Reserve's stimulus policies have been a major driver of the bull market that started in 2009. But stocks have been supported in 2013 by an improving economy and continued growth in corporate profits.

Stocks rose last week, with the Dow Jones industrial average and the S&P 500 both touching record highs. The gains came on light trading volume with many professional money managers absent for the Christmas holiday.

First Published: December 29, 2013: 9:27 AM ET

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4 money resolutions to make now

NEW YORK (CNNMoney)

More than half of respondents in a recent Fidelity Investments survey said they typically consider making financial resolutions, up from 35% of those surveyed in 2009.

Of those keeping their finances in mind, 54% vowed to save more -- making it the top resolution, trailed by paying off debt (24%) and spending less (19%).

It's always a good idea to try to save more and set up a budget you can stick to. But here are some money resolutions that are especially important for 2014.

Related: Your #moneyresolutions for 2014

1. Don't be too risky with your investments

2013 has been a fantastic year for the stock market and that likely means that your nest egg is invested more heavily in stocks than it was at the beginning of the year.

As a result, now is the time to rebalance your investment portfolio to make sure that you have a proper allocation of stocks and bonds for your age and risk tolerance, said Judith Ward, a senior financial planner at T. Rowe Price.

One rule of thumb: subtract your age from 120 to determine how much of your investments should be in stocks. For example, a 50-year-old should have up to 70% in stocks -- or $105,000 of a $150,000 portfolio.

Rebalancing is easy to do. In your 401(k), for example, simply sell some of your stock investments and invest that cash in bonds. And since you don't pay taxes until retirement, the sale won't come with any extra tax headaches.

"It's counter intuitive to sell the class that's doing well, but if you let that ride and it goes down, it's a harder fall," said Ward.

Related: Are you saving enough for retirement?

2. Stop checking your statements so often

Once you've figured out that perfect investment mix, you should resolve to leave it alone.

Your nest egg will be built up over decades of savings, so short-term market fluctuations will be overshadowed by long-term gains, said Jonathan Clements, director of financial education for Citi Personal Wealth Management.

"We buy these mutual funds we plan to hold for years and years. But then we start looking at our accounts every day," he said. "If you're really saving for your retirement that's 30 years away, why does it matter?"

3. Take advantage of low interest rates

Hoping to buy a home or lower your monthly debt payments? It's a good idea to act soon.

The Federal Reserve is beginning to pull back on its monthly bond-buying program. Mortgage rates have already risen in anticipation of the Fed's pull-back, so rates are expected to rise only gradually.

Still, the 3.5% mortgages offered as recently as last summer aren't likely to resurface, so if you're thinking of buying a home, act soon before rates rise further. A 1% increase in 30-year fixed mortgage rates costs around $60 more a month for every $100,000 you borrow.

It's also a good time to closely reexamine your debt, from car loans to home equity loans, for refinancing opportunities, said Lynn Ballou, a California-based financial planner. Variable interest rates, such as those you might have on a car loan or private student loan, are inexpensive now since they are tied to the prime rate, which has been at 3.25% since the end of 2008.

But those loans will get more expensive in coming years when rates finally return to normal as the economy strengthens. At the beginning of 2008, the prime rate was more than 6%.

So if you plan to take more than a few years to pay off a variable-rate loan, shop around to see if you can lock in a fixed rate. "If it's more than a couple of years out, this is a good time to see what your options are," Ballou said.

Related: What do you most want for your career in 2014?

4. Get your taxes in order

October's government shutdown is delaying the coming tax season by 10 days, which means that early bird filers may have to wait a bit longer to receive their tax refunds.

If you're anxious to get your refund, make sure to file online, which will be processed more quickly than filings made by snail mail, said Gary DuBoff, a New York-based accountant and managing director at CBIZ MHM, a financial services firm.

There are also a variety of popular tax breaks expiring or shrinking at the end of 2013, so you'll want to prepare for how that could affect future tax bills.

First Published: December 30, 2013: 3:19 AM ET

15.31 | 0 komentar | Read More

Online shipping will never be 100% on time

NEW YORK (CNNMoney)

Consumers were outraged when UPS (UPS, Fortune 500) failed to deliver packages by Christmas this year, but some analysts say expectations were too high and promises too lofty.

Building up infrastructure to meet a level of service that's demanded only a few days each year doesn't make sense.

"It's cheaper to provide remedies than a 100% service level," said James Stock, a professor at the University of South Florida who studies marketing and logistics.

Amazon (AMZN, Fortune 500) is refunding shipping charges and giving $20 gift cards for those who didn't receive their packages on time. A spokeswoman would not comment on whether or not Amazon would be reimbursed from UPS for those costs. UPS did not respond to calls from CNNMoney.

Related story: UPS backlog means missing Christmas gifts; Amazon responds

Delivering every gift on time would be very expensive and, according to Stock, not worthwhile for these public companies. A carrier like UPS would have to buy or rent more trucks, more airplanes and build new shipping hubs.

And that money would be spent to meet demands made on a just a few key shopping days up when retailers must handle 10 times more orders than normal, said Eric Best, the CEO of Mercent.

Why was this year different?

More people shop online and it's easy to do so on-the-go. Mercent, which collects data from 550 retailers, expects a quarter of all e-commerce purchases in 2013 to be made on mobile devices, up from just 6% in 2011 and 16% last year.

Plus, consumers now expect two-day and even same-day delivery from online retailers.

Amazon, eBay (EBAY, Fortune 500) and Google (GOOG, Fortune 500), the three leading online retailers, offer similar shipping guarantees. And at the last minute, Amazon extended its free shipping deadline to Dec. 22, Best said.

These factors pushed online retail sales to jump 63% on Dec. 23 when compared to the same day last year, according to Mercent data.

Even though forecasts expected a jump in online sales this year, the industry has not experienced this peak two days before Christmas in the past, Best said.

"They may have seen late signs that more people were buying online, but you can't ramp up equipment that fast," Stock said.

Sucharita Mulpura, an analyst at Forrester, expects retailers to push back their shipping deadlines, giving carriers more time to get packages delivered to homes in time for Christmas morning, rather than expand facilities.

Carriers may ramp up if demand increases on a more regular basis, but for now consumers may just have to plan to shop online a little bit earlier.

First Published: December 27, 2013: 3:55 PM ET

17.42 | 0 komentar | Read More

Divvying up Mom's stuff after she's gone

You know the relationship with your sibling is more important than who owns Mom's watch. But when you see her wearing it...

(Money Magazine)

While you can name beneficiaries for such objects in a will, many people simply direct that goods be divided equally among their children. That leaves the executor, often one of the kids, with the Solomonic task of meting out heirlooms. Add in grief, resentment, and siblings' knowledge of how to push one another's buttons, and you can imagine the emotional tinderbox that results.

"Families can fight tooth and nail over every item in the house," says Toronto lawyer Les Kotzer, co-author of Where There's an Inheritance.

Use this talk to avoid a family feud.

The Ground Rules

Give yourselves time to grieve. Rather than laying claims right after the funeral, when emotions are at a peak, schedule a time a few months later when everyone can gather in person, says Marlene Stum, lead author of the book and online resource Who Gets Grandma's Yellow Pie Plate?

Leave spouses at home. "The more people chiming in, the more emotions can escalate," says West Chester, Ohio, financial planner Marc Henn.

When You're Face to Face...

1. Opening gambit: "Let's agree that this won't tear us apart."

Why it works: You know your relationship with your brother is more important than ownership of Dad's watch -- but once you see the timepiece on his wrist and realize it'll go to his sons, not yours, you may temporarily forget. "So acknowledge upfront that you may say something hurtful," says Peter McClellan, author of Inheritance Tug-of-War Stories, "and agree to forgive each other."

Related: Keep your kids from blowing their inheritance

2. Name your musts: "Why don't we all say what items are on our wish lists?"

Why it works: "It's important to figure out what's most meaningful to whom," says Stum. Asking this question (you may even want to have a household inventory handy) helps you identify which items are subject to contention. Plus, it can help you sidestep battles: Your brother may stand down when he hears how much -- and why -- your sister wants the china.

3. Decide on a process: "Sounds like it might make sense for us to take turns picking items?"

Why it works: The key to emerging with family relations intact is choosing a selection process everyone thinks is fair, says Stum. For those items with little financial value but lots of claimants, you might draw straws to establish a picking order. Heirs get to select one item at a time, and once the last sibling has picked, let him have another turn, going back up the hierarchy in reverse, says Henn.

4. Strive for parity: "I'd really like Mom's wedding ring. How about if I pay you for it?"

Why it works: Items of real monetary value, like antiques and jewelry, need special treatment. Start with an appraisal, says Julie Hall, author of The Boomer Burden: Dealing With Your Parents' Lifetime Accumulation of Stuff. Whoever wants the item can pay the other heirs for their shares via a reduced inheritance or cash. If no one wants it, sell the item and split the proceeds.

Related: How to discuss money with an ex

5. Allow both of you to lose: "Since we can't agree on who gets the clock, maybe we should sell it."

Why it works: Things that are impossible to split should be sold, says Hall. This way, both siblings feel the same sacrifice. As Hall says, "Better to lose a family heirloom than to lose your relationship with a brother or sister."

First Published: December 27, 2013: 4:08 PM ET

17.42 | 0 komentar | Read More

Unemployment benefits for 1.3 million expire Saturday

Michelle Marshall is about to lose her unemployment benefits.

NEW YORK (CNNMoney)

Marshall, 56, has been out of work for a year, since she lost an administrative assistant job that paid her $44,000 per year.

She started collecting $624 each week in New Jersey unemployment benefits, but the state benefits ran out after 26 weeks. When federal benefits kicked in, she collected $521.

But Marshall will stop getting these checks next week.

That's because Congress failed to extend the recession-era program when it passed a budget deal last week.

Related: 7 who are losing benefits

Federal benefits kick in after state benefits run out, and range between 14 to 47 weeks, depending on the state where a person lives.

According to government figures, the average weekly benefit check is $300.

Even the cut from the larger state check to the federal benefits was hard for Marshall. She had to consolidate her $12,000 worth of credit card debt and enroll in a mortgage assistance program.

When the benefits stop entirely, she doesn't know what she'll do.

"I imagine I will go apply for food stamps," she said. "Depending how long this goes on, I might lose my car, which will impact my ability to get a job. I won't be able to drive to interviews."

The program was first signed into law in June 2008 by President George W. Bush, when the unemployment rate was 5.6% and the average duration of jobless insurance was 17.1 weeks.

The unemployment rate climbed to more than 10% at the height of the Great Recession in 2009, and the government extended the federal benefits for the long-term unemployed.

However, thanks to a weak recovery, those benefits have been either extended or expanded 11 times, most recently on Jan. 2 .

Most states, however, have cut back unemployment benefits, as the labor market has improved.

During negotiations over the budget deal earlier this month, House Speaker John Boehner suggested he was open to an extension if the White House came up with a plan. But the provision didn't make it into the deal that President Obama signed last week.

The White House issued a statement on Friday saying senators have put forward bipartisan legislation to extend emergency unemployment insurance for three months, and Senate Majority Leader Harry Reid will bring it to vote as soon as they are back from recess.

Related: White House: Extend jobless benefits

The Obama administration has said the end of extended benefits can have a major impact on the economy.

The White House Council of Economic Advisers and Department of Labor issued a joint report earlier this month touting how jobless benefits buoy the economy, while keeping 2.5 million workers out of poverty each year.

The White House pointed out in a separate report that the expiration of benefits could reduce U.S. GDP by 0.2 to 0.4 percentage point in 2014, according to the Congressional Budget Office and a J.P. Morgan Chase economist.

The Congressional Budget Office said the cost to extend the federal benefits by another year is about $26 billion.

But Republicans have said in memos that the program has already cost $252 billion in the five years through July.

Democrats intend to make this a big issue. House Minority Leader Nancy Pelosi said Friday that the first item on Congress' agenda in 2014 must be an extension of unemployment insurance, and Senator Reid said last week he would push for an extension "after the new year." Ads by a liberal group blasting the Republicans for inaction are running this week on cable TV networks, including CNN.

Those who are set to lose benefits, like Marshall, haven't lost hope, but they are urging Congress to do something.

"Give us a little more time to try and make some plans," she said. "I can't give up. I have no one to take care of me."

-- CNNMoney's Annalyn Kurtz and Jennifer Liberto, and CNN's Brian Koenig contributed reporting to this story.

First Published: December 27, 2013: 12:54 PM ET

17.42 | 0 komentar | Read More

Online shipping will never be 100% on time

NEW YORK (CNNMoney)

Consumers were outraged when UPS (UPS, Fortune 500) failed to deliver packages by Christmas this year, but some analysts say expectations were too high and promises too lofty.

Building up infrastructure to meet a level of service that's demanded only a few days each year doesn't make sense.

"It's cheaper to provide remedies than a 100% service level," said James Stock, a professor at the University of South Florida who studies marketing and logistics.

Amazon (AMZN, Fortune 500) is refunding shipping charges and giving $20 gift cards for those who didn't receive their packages on time. A spokeswoman would not comment on whether or not Amazon would be reimbursed from UPS for those costs. UPS did not respond to calls from CNNMoney.

Related story: UPS backlog means missing Christmas gifts; Amazon responds

Delivering every gift on time would be very expensive and, according to Stock, not worthwhile for these public companies. A carrier like UPS would have to buy or rent more trucks, more airplanes and build new shipping hubs.

And that money would be spent to meet demands made on a just a few key shopping days up when retailers must handle 10 times more orders than normal, said Eric Best, the CEO of Mercent.

Why was this year different?

More people shop online and it's easy to do so on-the-go. Mercent, which collects data from 550 retailers, expects a quarter of all e-commerce purchases in 2013 to be made on mobile devices, up from just 6% in 2011 and 16% last year.

Plus, consumers now expect two-day and even same-day delivery from online retailers.

Amazon, eBay (EBAY, Fortune 500) and Google (GOOG, Fortune 500), the three leading online retailers, offer similar shipping guarantees. And at the last minute, Amazon extended its free shipping deadline to Dec. 22, Best said.

These factors pushed online retail sales to jump 63% on Dec. 23 when compared to the same day last year, according to Mercent data.

Even though forecasts expected a jump in online sales this year, the industry has not experienced this peak two days before Christmas in the past, Best said.

"They may have seen late signs that more people were buying online, but you can't ramp up equipment that fast," Stock said.

Sucharita Mulpura, an analyst at Forrester, expects retailers to push back their shipping deadlines, giving carriers more time to get packages delivered to homes in time for Christmas morning, rather than expand facilities.

Carriers may ramp up if demand increases on a more regular basis, but for now consumers may just have to plan to shop online a little bit earlier.

First Published: December 27, 2013: 3:55 PM ET

15.30 | 0 komentar | Read More

Divvying up Mom's stuff after she's gone

You know the relationship with your sibling is more important than who owns Mom's watch. But when you see her wearing it...

(Money Magazine)

While you can name beneficiaries for such objects in a will, many people simply direct that goods be divided equally among their children. That leaves the executor, often one of the kids, with the Solomonic task of meting out heirlooms. Add in grief, resentment, and siblings' knowledge of how to push one another's buttons, and you can imagine the emotional tinderbox that results.

"Families can fight tooth and nail over every item in the house," says Toronto lawyer Les Kotzer, co-author of Where There's an Inheritance.

Use this talk to avoid a family feud.

The Ground Rules

Give yourselves time to grieve. Rather than laying claims right after the funeral, when emotions are at a peak, schedule a time a few months later when everyone can gather in person, says Marlene Stum, lead author of the book and online resource Who Gets Grandma's Yellow Pie Plate?

Leave spouses at home. "The more people chiming in, the more emotions can escalate," says West Chester, Ohio, financial planner Marc Henn.

When You're Face to Face...

1. Opening gambit: "Let's agree that this won't tear us apart."

Why it works: You know your relationship with your brother is more important than ownership of Dad's watch -- but once you see the timepiece on his wrist and realize it'll go to his sons, not yours, you may temporarily forget. "So acknowledge upfront that you may say something hurtful," says Peter McClellan, author of Inheritance Tug-of-War Stories, "and agree to forgive each other."

Related: Keep your kids from blowing their inheritance

2. Name your musts: "Why don't we all say what items are on our wish lists?"

Why it works: "It's important to figure out what's most meaningful to whom," says Stum. Asking this question (you may even want to have a household inventory handy) helps you identify which items are subject to contention. Plus, it can help you sidestep battles: Your brother may stand down when he hears how much -- and why -- your sister wants the china.

3. Decide on a process: "Sounds like it might make sense for us to take turns picking items?"

Why it works: The key to emerging with family relations intact is choosing a selection process everyone thinks is fair, says Stum. For those items with little financial value but lots of claimants, you might draw straws to establish a picking order. Heirs get to select one item at a time, and once the last sibling has picked, let him have another turn, going back up the hierarchy in reverse, says Henn.

4. Strive for parity: "I'd really like Mom's wedding ring. How about if I pay you for it?"

Why it works: Items of real monetary value, like antiques and jewelry, need special treatment. Start with an appraisal, says Julie Hall, author of The Boomer Burden: Dealing With Your Parents' Lifetime Accumulation of Stuff. Whoever wants the item can pay the other heirs for their shares via a reduced inheritance or cash. If no one wants it, sell the item and split the proceeds.

Related: How to discuss money with an ex

5. Allow both of you to lose: "Since we can't agree on who gets the clock, maybe we should sell it."

Why it works: Things that are impossible to split should be sold, says Hall. This way, both siblings feel the same sacrifice. As Hall says, "Better to lose a family heirloom than to lose your relationship with a brother or sister."

First Published: December 27, 2013: 4:08 PM ET

15.30 | 0 komentar | Read More

Unemployment benefits for 1.3 million expire Saturday

Michelle Marshall is about to lose her unemployment benefits.

NEW YORK (CNNMoney)

Marshall, 56, has been out of work for a year, since she lost an administrative assistant job that paid her $44,000 per year.

She started collecting $624 each week in New Jersey unemployment benefits, but the state benefits ran out after 26 weeks. When federal benefits kicked in, she collected $521.

But Marshall will stop getting these checks next week.

That's because Congress failed to extend the recession-era program when it passed a budget deal last week.

Related: 7 who are losing benefits

Federal benefits kick in after state benefits run out, and range between 14 to 47 weeks, depending on the state where a person lives.

According to government figures, the average weekly benefit check is $300.

Even the cut from the larger state check to the federal benefits was hard for Marshall. She had to consolidate her $12,000 worth of credit card debt and enroll in a mortgage assistance program.

When the benefits stop entirely, she doesn't know what she'll do.

"I imagine I will go apply for food stamps," she said. "Depending how long this goes on, I might lose my car, which will impact my ability to get a job. I won't be able to drive to interviews."

The program was first signed into law in June 2008 by President George W. Bush, when the unemployment rate was 5.6% and the average duration of jobless insurance was 17.1 weeks.

The unemployment rate climbed to more than 10% at the height of the Great Recession in 2009, and the government extended the federal benefits for the long-term unemployed.

However, thanks to a weak recovery, those benefits have been either extended or expanded 11 times, most recently on Jan. 2 .

Most states, however, have cut back unemployment benefits, as the labor market has improved.

During negotiations over the budget deal earlier this month, House Speaker John Boehner suggested he was open to an extension if the White House came up with a plan. But the provision didn't make it into the deal that President Obama signed last week.

The White House issued a statement on Friday saying senators have put forward bipartisan legislation to extend emergency unemployment insurance for three months, and Senate Majority Leader Harry Reid will bring it to vote as soon as they are back from recess.

Related: White House: Extend jobless benefits

The Obama administration has said the end of extended benefits can have a major impact on the economy.

The White House Council of Economic Advisers and Department of Labor issued a joint report earlier this month touting how jobless benefits buoy the economy, while keeping 2.5 million workers out of poverty each year.

The White House pointed out in a separate report that the expiration of benefits could reduce U.S. GDP by 0.2 to 0.4 percentage point in 2014, according to the Congressional Budget Office and a J.P. Morgan Chase economist.

The Congressional Budget Office said the cost to extend the federal benefits by another year is about $26 billion.

But Republicans have said in memos that the program has already cost $252 billion in the five years through July.

Democrats intend to make this a big issue. House Minority Leader Nancy Pelosi said Friday that the first item on Congress' agenda in 2014 must be an extension of unemployment insurance, and Senator Reid said last week he would push for an extension "after the new year." Ads by a liberal group blasting the Republicans for inaction are running this week on cable TV networks, including CNN.

Those who are set to lose benefits, like Marshall, haven't lost hope, but they are urging Congress to do something.

"Give us a little more time to try and make some plans," she said. "I can't give up. I have no one to take care of me."

-- CNNMoney's Annalyn Kurtz and Jennifer Liberto, and CNN's Brian Koenig contributed reporting to this story.

First Published: December 27, 2013: 12:54 PM ET

15.30 | 0 komentar | Read More

Unemployment benefits for 1.3 million expire Saturday

Michelle Marshall is about to lose her unemployment benefits.

NEW YORK (CNNMoney)

Marshall, 56, has been out of work for a year, since she lost an administrative assistant job that paid her $44,000 per year.

She started collecting $624 each week in New Jersey unemployment benefits, but the state benefits ran out after 26 weeks. When federal benefits kicked in, she collected $521.

But Marshall will stop getting these checks next week.

That's because Congress failed to extend the recession-era program when it passed a budget deal last week.

Related: My jobless benefits will end

Federal benefits kick in after state benefits run out, and range between 14 to 47 weeks, depending on the state where a person lives.

According to government figures, the average weekly benefit check is $300.

Even the cut from the larger state check to the federal benefits was hard for Marshall. She had to consolidate her $12,000 worth of credit card debt and enroll in a mortgage assistance program.

When the benefits stop entirely, she doesn't know what she'll do.

"I imagine I will go apply for food stamps," she said. "Depending how long this goes on, I might lose my car, which will impact my ability to get a job. I won't be able to drive to interviews."

The program was first signed into law in June 2008 by President George W. Bush, when the unemployment rate was 5.6% and the average duration of jobless insurance was 17.1 weeks.

The unemployment rate climbed to more than 10% at the height of the Great Recession in 2009, and the government extended the federal benefits for the long-term unemployed.

However, thanks to a weak recovery, those benefits have been either extended or expanded 11 times, most recently on Jan. 2 .

Most states, however, have cut back unemployment benefits, as the labor market has improved.

During negotiations over the budget deal earlier this month, House Speaker John Boehner suggested he was open to an extension if the White House came up with a plan. But the provision didn't make it into the deal that President Obama signed last week.

The White House issued a statement on Friday saying senators have put forward bipartisan legislation to extend emergency unemployment insurance for three months, and Senate Majority Leader Harry Reid will bring it to vote as soon as they are back from recess.

Related: White House: Extend jobless benefits

The Obama administration has said the end of extended benefits can have a major impact on the economy.

The White House Council of Economic Advisers and Department of Labor issued a joint report earlier this month touting how jobless benefits buoy the economy, while keeping 2.5 million workers out of poverty each year.

The White House pointed out in a separate report that the expiration of benefits could reduce U.S. GDP by 0.2 to 0.4 percentage point in 2014, according to the Congressional Budget Office and a J.P. Morgan Chase economist.

The Congressional Budget Office said the cost to extend the federal benefits by another year is about $26 billion.

But Republicans have said in memos that the program has already cost $252 billion in the five years through July.

Democrats intend to make this a big issue. House Minority Leader Nancy Pelosi said Friday that the first item on Congress' agenda in 2014 must be an extension of unemployment insurance, and Senator Reid said last week he would push for an extension "after the new year." Ads by a liberal group blasting the Republicans for inaction are running this week on cable TV networks, including CNN.

Those who are set to lose benefits, like Marshall, haven't lost hope, but they are urging Congress to do something.

"Give us a little more time to try and make some plans," she said. "I can't give up. I have no one to take care of me."

-- CNNMoney's Annalyn Kurtz and Jennifer Liberto, and CNN's Brian Koenig contributed reporting to this story.

First Published: December 27, 2013: 12:54 PM ET

17.42 | 0 komentar | Read More

Online shipping will never be 100% on time

NEW YORK (CNNMoney)

Consumers were outraged when UPS (UPS, Fortune 500) failed to deliver packages by Christmas this year, but some analysts say expectations were too high and promises too lofty.

Building up infrastructure to meet a level of service that's demanded only a few days each year doesn't make sense.

"It's cheaper to provide remedies than a 100% service level," said James Stock, a professor at the University of South Florida who studies marketing and logistics.

Amazon (AMZN, Fortune 500) is refunding shipping charges and giving $20 gift cards for those who didn't receive their packages on time. A spokeswoman would not comment on whether or not Amazon would be reimbursed from UPS for those costs. UPS did not respond to calls from CNNMoney.

Related story: UPS backlog means missing Christmas gifts; Amazon responds

Delivering every gift on time would be very expensive and, according to Stock, not worthwhile for these public companies. A carrier like UPS would have to buy or rent more trucks, more airplanes and build new shipping hubs.

And that money would be spent to meet demands made on a just a few key shopping days up when retailers must handle 10 times more orders than normal, said Eric Best, the CEO of Mercent.

Why was this year different?

More people shop online and it's easy to do so on-the-go. Mercent, which collects data from 550 retailers, expects a quarter of all e-commerce purchases in 2013 to be made on mobile devices, up from just 6% in 2011 and 16% last year.

Plus, consumers now expect two-day and even same-day delivery from online retailers.

Amazon, eBay (EBAY, Fortune 500) and Google (GOOG, Fortune 500), the three leading online retailers, offer similar shipping guarantees. And at the last minute, Amazon extended its free shipping deadline to Dec. 22, Best said.

These factors pushed online retail sales to jump 63% on Dec. 23 when compared to the same day last year, according to Mercent data.

Even though forecasts expected a jump in online sales this year, the industry has not experienced this peak two days before Christmas in the past, Best said.

"They may have seen late signs that more people were buying online, but you can't ramp up equipment that fast," Stock said.

Sucharita Mulpura, an analyst at Forrester, expects retailers to push back their shipping deadlines, giving carriers more time to get packages delivered to homes in time for Christmas morning, rather than expand facilities.

Carriers may ramp up if demand increases on a more regular basis, but for now consumers may just have to plan to shop online a little bit earlier.

First Published: December 27, 2013: 3:55 PM ET

17.42 | 0 komentar | Read More

Divvying up Mom's stuff after she's gone

You know the relationship with your sibling is more important than who owns Mom's watch. But when you see her wearing it...

(Money Magazine)

While you can name beneficiaries for such objects in a will, many people simply direct that goods be divided equally among their children. That leaves the executor, often one of the kids, with the Solomonic task of meting out heirlooms. Add in grief, resentment, and siblings' knowledge of how to push one another's buttons, and you can imagine the emotional tinderbox that results.

"Families can fight tooth and nail over every item in the house," says Toronto lawyer Les Kotzer, co-author of Where There's an Inheritance.

Use this talk to avoid a family feud.

The Ground Rules

Give yourselves time to grieve. Rather than laying claims right after the funeral, when emotions are at a peak, schedule a time a few months later when everyone can gather in person, says Marlene Stum, lead author of the book and online resource Who Gets Grandma's Yellow Pie Plate?

Leave spouses at home. "The more people chiming in, the more emotions can escalate," says West Chester, Ohio, financial planner Marc Henn.

When You're Face to Face...

1. Opening gambit: "Let's agree that this won't tear us apart."

Why it works: You know your relationship with your brother is more important than ownership of Dad's watch -- but once you see the timepiece on his wrist and realize it'll go to his sons, not yours, you may temporarily forget. "So acknowledge upfront that you may say something hurtful," says Peter McClellan, author of Inheritance Tug-of-War Stories, "and agree to forgive each other."

Related: Keep your kids from blowing their inheritance

2. Name your musts: "Why don't we all say what items are on our wish lists?"

Why it works: "It's important to figure out what's most meaningful to whom," says Stum. Asking this question (you may even want to have a household inventory handy) helps you identify which items are subject to contention. Plus, it can help you sidestep battles: Your brother may stand down when he hears how much -- and why -- your sister wants the china.

3. Decide on a process: "Sounds like it might make sense for us to take turns picking items?"

Why it works: The key to emerging with family relations intact is choosing a selection process everyone thinks is fair, says Stum. For those items with little financial value but lots of claimants, you might draw straws to establish a picking order. Heirs get to select one item at a time, and once the last sibling has picked, let him have another turn, going back up the hierarchy in reverse, says Henn.

4. Strive for parity: "I'd really like Mom's wedding ring. How about if I pay you for it?"

Why it works: Items of real monetary value, like antiques and jewelry, need special treatment. Start with an appraisal, says Julie Hall, author of The Boomer Burden: Dealing With Your Parents' Lifetime Accumulation of Stuff. Whoever wants the item can pay the other heirs for their shares via a reduced inheritance or cash. If no one wants it, sell the item and split the proceeds.

Related: How to discuss money with an ex

5. Allow both of you to lose: "Since we can't agree on who gets the clock, maybe we should sell it."

Why it works: Things that are impossible to split should be sold, says Hall. This way, both siblings feel the same sacrifice. As Hall says, "Better to lose a family heirloom than to lose your relationship with a brother or sister."

First Published: December 27, 2013: 4:08 PM ET

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Online shipping will never be 100% on time

NEW YORK (CNNMoney)

Consumers were outraged when UPS (UPS, Fortune 500) failed to deliver packages by Christmas this year, but some analysts say expectations were too high and promises too lofty.

Building up infrastructure to meet a level of service that's demanded only a few days each year doesn't make sense.

"It's cheaper to provide remedies than a 100% service level," said James Stock, a professor at the University of South Florida who studies marketing and logistics.

Amazon (AMZN, Fortune 500) is refunding shipping charges and giving $20 gift cards for those who didn't receive their packages on time. A spokeswoman would not comment on whether or not Amazon would be reimbursed from UPS for those costs. UPS did not respond to calls from CNNMoney.

Related story: UPS backlog means missing Christmas gifts; Amazon responds

Delivering every gift on time would be very expensive and, according to Stock, not worthwhile for these public companies. A carrier like UPS would have to buy or rent more trucks, more airplanes and build new shipping hubs.

And that money would be spent to meet demands made on a just a few key shopping days up when retailers must handle 10 times more orders than normal, said Eric Best, the CEO of Mercent.

Why was this year different?

More people shop online and it's easy to do so on-the-go. Mercent, which collects data from 550 retailers, expects a quarter of all e-commerce purchases in 2013 to be made on mobile devices, up from just 6% in 2011 and 16% last year.

Plus, consumers now expect two-day and even same-day delivery from online retailers.

Amazon, eBay (EBAY, Fortune 500) and Google (GOOG, Fortune 500), the three leading online retailers, offer similar shipping guarantees. And at the last minute, Amazon extended its free shipping deadline to Dec. 22, Best said.

These factors pushed online retail sales to jump 63% on Dec. 23 when compared to the same day last year, according to Mercent data.

Even though forecasts expected a jump in online sales this year, the industry has not experienced this peak two days before Christmas in the past, Best said.

"They may have seen late signs that more people were buying online, but you can't ramp up equipment that fast," Stock said.

Sucharita Mulpura, an analyst at Forrester, expects retailers to push back their shipping deadlines, giving carriers more time to get packages delivered to homes in time for Christmas morning, rather than expand facilities.

Carriers may ramp up if demand increases on a more regular basis, but for now consumers may just have to plan to shop online a little bit earlier.

First Published: December 27, 2013: 3:55 PM ET

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Divvying up Mom's stuff after she's gone

You know the relationship with your sibling is more important than who owns Mom's watch. But when you see her wearing it...

(Money Magazine)

While you can name beneficiaries for such objects in a will, many people simply direct that goods be divided equally among their children. That leaves the executor, often one of the kids, with the Solomonic task of meting out heirlooms. Add in grief, resentment, and siblings' knowledge of how to push one another's buttons, and you can imagine the emotional tinderbox that results.

"Families can fight tooth and nail over every item in the house," says Toronto lawyer Les Kotzer, co-author of Where There's an Inheritance.

Use this talk to avoid a family feud.

The Ground Rules

Give yourselves time to grieve. Rather than laying claims right after the funeral, when emotions are at a peak, schedule a time a few months later when everyone can gather in person, says Marlene Stum, lead author of the book and online resource Who Gets Grandma's Yellow Pie Plate?

Leave spouses at home. "The more people chiming in, the more emotions can escalate," says West Chester, Ohio, financial planner Marc Henn.

When You're Face to Face...

1. Opening gambit: "Let's agree that this won't tear us apart."

Why it works: You know your relationship with your brother is more important than ownership of Dad's watch -- but once you see the timepiece on his wrist and realize it'll go to his sons, not yours, you may temporarily forget. "So acknowledge upfront that you may say something hurtful," says Peter McClellan, author of Inheritance Tug-of-War Stories, "and agree to forgive each other."

Related: Keep your kids from blowing their inheritance

2. Name your musts: "Why don't we all say what items are on our wish lists?"

Why it works: "It's important to figure out what's most meaningful to whom," says Stum. Asking this question (you may even want to have a household inventory handy) helps you identify which items are subject to contention. Plus, it can help you sidestep battles: Your brother may stand down when he hears how much -- and why -- your sister wants the china.

3. Decide on a process: "Sounds like it might make sense for us to take turns picking items?"

Why it works: The key to emerging with family relations intact is choosing a selection process everyone thinks is fair, says Stum. For those items with little financial value but lots of claimants, you might draw straws to establish a picking order. Heirs get to select one item at a time, and once the last sibling has picked, let him have another turn, going back up the hierarchy in reverse, says Henn.

4. Strive for parity: "I'd really like Mom's wedding ring. How about if I pay you for it?"

Why it works: Items of real monetary value, like antiques and jewelry, need special treatment. Start with an appraisal, says Julie Hall, author of The Boomer Burden: Dealing With Your Parents' Lifetime Accumulation of Stuff. Whoever wants the item can pay the other heirs for their shares via a reduced inheritance or cash. If no one wants it, sell the item and split the proceeds.

Related: How to discuss money with an ex

5. Allow both of you to lose: "Since we can't agree on who gets the clock, maybe we should sell it."

Why it works: Things that are impossible to split should be sold, says Hall. This way, both siblings feel the same sacrifice. As Hall says, "Better to lose a family heirloom than to lose your relationship with a brother or sister."

First Published: December 27, 2013: 4:08 PM ET

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Unemployment benefits for 1.3 million expire Saturday

Michelle Marshall is about to lose her unemployment benefits.

NEW YORK (CNNMoney)

Marshall, 56, has been out of work for a year, since she lost an administrative assistant job that paid her $44,000 per year.

She started collecting $624 each week in New Jersey unemployment benefits, but the state benefits ran out after 26 weeks. When federal benefits kicked in, she collected $521.

But Marshall will stop getting these checks next week.

That's because Congress failed to extend the recession-era program when it passed a budget deal last week.

Related: My jobless benefits will end

Federal benefits kick in after state benefits run out, and range between 14 to 47 weeks, depending on the state where a person lives.

According to government figures, the average weekly benefit check is $300.

Even the cut from the larger state check to the federal benefits was hard for Marshall. She had to consolidate her $12,000 worth of credit card debt and enroll in a mortgage assistance program.

When the benefits stop entirely, she doesn't know what she'll do.

"I imagine I will go apply for food stamps," she said. "Depending how long this goes on, I might lose my car, which will impact my ability to get a job. I won't be able to drive to interviews."

The program was first signed into law in June 2008 by President George W. Bush, when the unemployment rate was 5.6% and the average duration of jobless insurance was 17.1 weeks.

The unemployment rate climbed to more than 10% at the height of the Great Recession in 2009, and the government extended the federal benefits for the long-term unemployed.

However, thanks to a weak recovery, those benefits have been either extended or expanded 11 times, most recently on Jan. 2 .

Most states, however, have cut back unemployment benefits, as the labor market has improved.

During negotiations over the budget deal earlier this month, House Speaker John Boehner suggested he was open to an extension if the White House came up with a plan. But the provision didn't make it into the deal that President Obama signed last week.

The White House issued a statement on Friday saying senators have put forward bipartisan legislation to extend emergency unemployment insurance for three months, and Senate Majority Leader Harry Reid will bring it to vote as soon as they are back from recess.

Related: White House: Extend jobless benefits

The Obama administration has said the end of extended benefits can have a major impact on the economy.

The White House Council of Economic Advisers and Department of Labor issued a joint report earlier this month touting how jobless benefits buoy the economy, while keeping 2.5 million workers out of poverty each year.

The White House pointed out in a separate report that the expiration of benefits could reduce U.S. GDP by 0.2 to 0.4 percentage point in 2014, according to the Congressional Budget Office and a J.P. Morgan Chase economist.

The Congressional Budget Office said the cost to extend the federal benefits by another year is about $26 billion.

But Republicans have said in memos that the program has already cost $252 billion in the five years through July.

Democrats intend to make this a big issue. House Minority Leader Nancy Pelosi said Friday that the first item on Congress' agenda in 2014 must be an extension of unemployment insurance, and Senator Reid said last week he would push for an extension "after the new year." Ads by a liberal group blasting the Republicans for inaction are running this week on cable TV networks, including CNN.

Those who are set to lose benefits, like Marshall, haven't lost hope, but they are urging Congress to do something.

"Give us a little more time to try and make some plans," she said. "I can't give up. I have no one to take care of me."

-- CNNMoney's Annalyn Kurtz and Jennifer Liberto, and CNN's Brian Koenig contributed reporting to this story.

First Published: December 27, 2013: 12:54 PM ET

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8 disappearing tax breaks

Some popular tax breaks are set to disappear at the end of the year -- unless Congress extends them.

NEW YORK (CNNMoney)

Credits and deductions benefiting everyone from teachers and students to homeowners are scheduled to expire at the end of the year, unless Congress extends them.

Here are eight of the tax breaks that will be missed the most, and how you can take advantage of them before it's too late.

1. Tuition and fees: A deduction for tuition and fees of up to $4,000 is currently available to parents and students paying for college. More than 2 million taxpayers claimed this break in 2010, saving more than $4 billion, according to the most recent data available from H&R Block.

If you want to take advantage of this tax break before it expires, you'll need to pay your spring 2014 tuition and fees before Dec. 31, said Lindsey Buchholz, lead research analyst at the Tax Institute of H&R Block. That way you can still claim those costs on your 2013 tax return.

Related: Government shutdown delays 2014 tax season

2. Teachers' expenses: The Educator Expense Deduction aims to help teachers cover the cost of classroom supplies like notebooks, pens and paper that their school doesn't reimburse them for. Elementary and secondary school teachers can qualify for deductions of up to $250 per year, even if they don't itemize.

Nearly 4 million teachers deducted $915 million in school expenses in 2010.

"If you haven't bought all the supplies you need for your classroom, it might be worth doing that before the end of the year and taking advantage of this credit," said Greg Rosica, Ernst & Young partner and contributing author to the EY Tax Guide 2014.

3. Mortgage insurance premiums: Currently, homeowners are able to deduct their mortgage insurance premiums as residence interest. About 4.2 million taxpayers claimed the tax break in 2010, deducting a total of $5.6 billion in mortgage insurance premiums, according to H&R Block.

Related: 'Green' commuter tax break may be slashed

4. State and local sales tax: In states without an income tax, like Florida and Alaska, taxpayers have been able to deduct state and local general sales taxes instead of taking the income tax deduction -- but that won't be an option next year unless Congress intervenes.

In 2010, 57 million taxpayers claimed more than $16.4 billion in deductions this way.

If you live in a state without an income tax and are planning to make a big purchase next year, you may want to do it before the end of 2013 instead, said Rosica. That way, you can claim this deduction before it expires.

5. Donations through your IRA: Retirees older than 70-and-a-half have traditionally been able to make non-taxable charitable donations of up to $100,000 directly from their IRA disbursements. But once this tax break expires, they will need to take the disbursement first, meaning it will be considered part of their taxable income.

Related: End of mortgage-fix break could mean big tax bills

6. Energy-efficiency: It's your last chance to get a credit of up to $500 if you made energy-efficient home improvements this year -- including new windows and doors. To see if you qualify, visit EnergyStar.com or ask the company where you bought the items.

The break is only available for people who haven't already claimed received credits totaling $500 in past years (The credit has ranged in value since taking effect in 2006.).

7. Commuter costs: Currently, commuters who take mass transit like trains or buses to work are able to receive $245 a month (or $2,940 per year) in tax-free money toward those expenses. But this perk is scheduled to expire January 1, at which point commuters will only be able to write off just $130 per month -- $1,560 a year.

8. Mortgage debt forgiveness: A tax break that has been in effect since 2007 allows struggling homeowners to exclude any debt forgiveness they were granted from a bank when calculating their taxable income.

For the more than 6 million Americans who still owe more on their loans than their homes are worth, the expiration of this tax credit Jan. 1 is bad news. If they get a mortgage modification from their bank or do a short sale of their home after year-end, their tax bill could be thousands of dollars higher than if the modification were completed before year-end.

First Published: December 27, 2013: 4:02 AM ET

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Burglaries jump during the holidays

NEW YORK (CNNMoney)

In several states, according to the FBI, December is the peak month for burglaries as folks leave homes unattended during the holidays.

In California, for example, there were 21,900 burglaries in December 2011 - the latest statistics available - 18% more than the average month.

Nationally, burglaries peak during the summer vacations, though December is close behind.

In many places, the week following Christmas has the heaviest burglary caseload.

Philadelphians, for example, reported 194 residential burglaries the week starting December 24, 2012, compared with an average of 143 for the same period during the following five months.

The post-Christmas burglary jump also holds true for small towns.

"Every year, we see a pretty big uptick in burglaries," said Ben Hayden, community relations officer for the Coralville (Iowa) Police Department.

Related: Most dangerous U.S. cities

A few factors seem most responsible.

Many families take off, leaving homes empty -- except for all the gifts. And winter storms can make it obvious that nobody's home.

"Criminals drive through neighborhoods looking for places to burglarize," said Hayden. "If there's newly fallen snow that hasn't been shoveled, they figure the home is empty."

He added that many townspeople put their beautifully decorated Christmas trees -- and all the gift packages stacked beneath them -- right at the front of the living room.

"Burglars can walk around and window-shop," said Hayden.

The criminals are already aware that homes are filled with loot this time of year -- jewelry, televisions, smart phones and computers. Sometimes homeowners advertise what they got for Christmas by putting out for trash collection the empty boxes their gifts came in, according to Gary Holliday, deputy chief of the Knoxville, Tenn., police department.

"Criminals find out what you got for Christmas," he said.

Related: 4 things to do after your credit card has been hacked

Daylight offers no deterrent: 65% of these crimes occurred between 6 AM and 6 PM in 2011, according to the FBI.

Police solve only about 13% of reported burglaries and do not recover all the goods even when they do nab the criminals. Losses average $1,675 per break-in.

To minimize risk, police advise homeowners to cut up boxes and stuff them into black garbage bags before putting them out for collection.

And, when you're on vacation, don't make it obvious that you're away. Have someone clear your walk, get your mail and turn lights on and off at different times.

And, be discreet about divulging plans on social media. Not everyone in the world has to know that you're going to be in Cabo San Lucas for a New Year's celebration.

"Social media is a great thing for people but it's a great thing for criminals too," said Holliday. "Criminals stake out the Internet."

First Published: December 27, 2013: 4:09 AM ET

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