Published: Thursday, Nov. 26, 2009 / Updated: Thursday, Nov. 26, 2009 07:34 AM

IRS refund: It really is your money, come and get it

The Internal Revenue Service has $123.5 million in federal tax refunds — but it can't find those taxpayers.

Undeliverable refund checks average $1,148 this year, compared to $990 last year, according to the IRS. Some taxpayers are due more than one check.

To figure out if the IRS has a refund waiting for you, you can go to www.irs.gov and click on “Where's my refund?” to check your status.

If you find your name on the list, call the IRS refund hotline and you'll get instructions on how to update your address.

The hotline number is 800-829-1954. Be prepared to give your Social Security number, your filing status and some other details from your 2008 tax return.

There is no deadline for claiming your refund.

7 tips for buying collectibles

While there are no future guarantees on choosing moneymaking collectibles, there are several tips you can follow to get a better start.

First things first — Do not, under any circumstance, ever allow the appraiser of your valuables to purchase them from you.

Look for quality items — Junk doesn't appreciate. The pieces that survive the ages — from toys to furniture — are durable, of fine craftsmanship, and unique. Thoroughly inspect the makeup of the wood or toy parts before making a purchase. Veneers and thin plastic spell depreciation.

Purchase one-of-a-kind pieces of art — Quirky, hand-made pieces of pottery, wall hangings, and other home decorative items make for the best investments. Unless they are absolutely hideous, they'll usually increase in value. Most artists will include documentation on how many similar pieces were sculpted. Anything mass-produced is not a good idea for long-term value. Limited editions are typically kept under 100 — not 1,000 like some you see in magazines.

Toy collecting is not fun for kids — To make a big profit on hot children's toys, you really need to keep them in the box and then keep the box in a low-moisture, secluded area. What kid wants to stare at a toy entombed in plastic rather than play with it? Unless you can buy two identical toys, your little tyke would rather play now than sell in thirty years.

Buy stuff you like — Just because an “expert” on CNN throws out a tip that something will sell for big bucks in fifty years doesn't make it true. There are plenty of ugly and expensive collectibles out there — do you want a curio cabinet littered with tacky porcelain chipmunks? Only buy what you like. Life is too short. Chances are, other people will like it too in several decades.

Keep detailed records — Whether you're purchasing Madame Alexander dolls or oil paintings from a local artist, keep all paperwork associated with your sale. A receipt, limited edition authenticity, and any other research you do on your collection should be copied and kept in a secure place. If you buy high dollar artwork from a big name, that receipt is the only proof of purchase you have if it turns out to be fraudulent.

Appraise and insure your collection every few years — Even though it's an extra expense, you need to keep up with the current value of your collection (including pictures) for insurance purposes. Have your goods appraised by several sources every 3-5 years. Should your house be swept away in a Noah-style epic flood, your records and pictures are the only thing between you and a successful claim.

9 ways to save money every day

Times are hard. Many people have lost their jobs. Many more will lose their jobs before the green shoots turn into sustained economic recovery. And many more of us live in dread that current economic conditions might catch up with them.

Now is the time to learn the art of frugal living.

This is not about living a miserable life. It is about how to spend and shop sensibly. It is about cutting out waste. It is about looking after the pennies to look after the pounds.

Here are nine tips to start frugal living.

Start collecting small coins — Deposit all your change in a big jar and by the end of the year you'll be surprised at how much you end up with.

Stop buying fancy coffee from Starbucks — Buy a small thermos flask and make it yourself. $4 day a spent on a frothy cup of coffee is $20 a week, over $1,000 a year.

Shop for groceries late — Do your supermarket shopping at end of week just before closing time. You will be amazed how much prices are reduced as “sell by dates” expire. The food is still ok to eat but you have saved money.

Go through your bank statements — Check out all your regular payments and subscriptions. Are you still paying for stuff you no longer need? Are you paying for satellite channels you no longer watch?

Unplug appliances — Switch off all your power appliances at the wall before going to bed at night. Many electrical items still use electricity even when off but still connected at the wall. Do you really need to use both the oven and microwave as a clock?

Stop buying books — Even if you think you're saving money by buying all your books online, you'll save even more by making full use of your local library. It's free, you can have as many books as you like and you can also order any book you want to read.

Cut out the gym subscription — You don't need to pay money to stay in shape. Resolve instead to go for a walk or take up running and if you have a bike get out on it.

Go online — Make sure you are getting the best possible deal on your finances including your savings, your credit card and insurance. Check out too how much you are paying for things like broadband, phone, gas and electricity. And when you see a better deal, switch.

Wear more layers — Also, to reduce fuel bills, insulation sheets behind radiators will reflect the heat into the room; turn the heating on and off by hand rather than by timer or thermostat.

McClatchy-Tribune News Service