1) Don't Count on Credit Card for Emergency Fund

MANHATTAN, Kan. – Banking on the available balance on a credit card as an emergency fund can be costly, said Carol Young, Kansas State University Research and Extension financial management specialist.

“If short on cash and without an emergency fund to fall back on, adding credit card debt, which typically has a high interest rate, can add to financial woes,” Young said.

Having the equivalent of one to six months of expenses – the recommended amount – set aside is an ideal to aim for, but the important thing is to start building an emergency fund that makes sense to you, she said. For many families, that might range from $500 to $1500 or more.

A recent study by the Consumer Federation of America indicates that households who maintain an emergency fund of at least $500 are eight times less likely to rely on costly products such as a pay-day loan, she said.

“In a year’s time, saving $5 a week – that’s less than a dollar a day – will add up to $260. Saving $10 a week will add up to $520,” she said. Stashing the money in an interest-bearing account will help the balance grow even more.

All Kansas State University Research and Extension offices offer a basic money management curriculum. Many Kansas Extension offices are also emphasizing saving and spending strategies and financial management education as part of Kansas Saves, a program connected to America Saves’ “Save and Reduce Debt” initiative sponsored by the Consumer Federation of America and other partners.

More information is available at any county or district K-State Research and Extension office and on Kansas Extension’s Web site: www.oznet.ksu.edu.

 

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2) Put Tax Refund in Perspective

MANHATTAN, Kan. – Qualifying for a tax refund may seem like a windfall, but it’s not, according to a Kansas State University financial management specialist.

“Being entitled to a tax refund simply means that you have overpaid taxes due and provided the government with a no-interest loan,” said Carol Young, with K-State Research and Extension.

Advertisements for tax refund bargains are plentiful this time of year, and taxpayers may be tempted to spend, rather than save, said Young, who advises reserving tax refunds to clear outstanding bills or to jumpstart savings for an emergency fund or long-term financial goal.

“It’s still okay to splurge a little, with dinner out or a special purchase with a small percentage of the tax savings, but building financial security is recommended as a long-term goal,” Young said. “A good quote to remember is ‘Spend some, save some, give some’. Not having enough money left to give to charity can be a signal your spending is out of control.

All Kansas State University Research and Extension offices offer a basic money management curriculum. Many Kansas Extension offices are also emphasizing saving and spending strategies and financial management education as part of Kansas Saves, a program connected to America Saves’ “Save and Reduce Debt” initiative sponsored by the Consumer Federation of America and other partners.

More information is available at county and district K-State Research and Extension offices and on Kansas Extension’s Web site: www.oznet.ksu.edu.


 

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3) Waterlogged Wheat May Still Survive

MANHATTAN, Kan. – This winter’s wet weather has been welcomed by farmers to a point, but some wheat-growing areas have seen a little too much of a good thing.

“This has been a very wet winter in Kansas,” said Kansas State University agronomist Jim Shroyer. “Where soils have been partially or completely frozen, or where soils are saturated and cannot drain, water may have ponded on the soil surface. This has raised some questions about how long wheat can survive under water.”

Shroyer, who is the Extension agronomy leader with K-State Research and Extension, said there is little research on the subject. Most producers, however, have seen or heard about wheat that has drowned from being in standing water too long in terrace channels or low-lying areas during a wet fall or spring.

“This will not necessarily be a good guide to what is happening this winter,” Shroyer warned. “Where wheat is dormant or soils are frozen or very cold, the plants can survive for quite awhile under water. Exactly how long is hard to say, but certainly more than a week.”

Flooding and waterlogging are more of a concern on actively growing wheat under warm soil conditions, he said. In this situation, wheat can be damaged after being under water in anaerobic conditions for more than a few days, although it is hard to be specific.

“In unscientific terms, wheat is a tough plant and seems to withstand many problems under field conditions that cause significant injury under controlled research conditions,” Shroyer said. “Predicting the effect of some environmental stresses, such as waterlogging and freezes, can be an inexact science, at best.”


 

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4) Clean Beds Now to Control Iris Leaf Spot

MANHATTAN, Kan – Often the best way to prevent or control iris leaf spot is just to check plantings before they sprout in spring and to remove any leaves or stalks remaining from last year, a Kansas State University horticulturist said.

“If the plants had little to no infection last year, removing and destroying the old foliage may be all that’s needed,” said Ward Upham, Master Gardener program coordinator for K-State Research and Extension.

Plants that were heavily infected, however, will need additional care.

“I’d definitely start a spray schedule for them as soon as this year’s leaves appear,” Upham said.

K-State recommends controlling the iris leaf spot fungus with chlorothalonil (e.g., Daconil) or myclobutanil (e.g., Immunox). Good control will require repeat sprays at seven- to 10-day intervals for a total of four to six applications, he said.

“Iris leaves are waxy. You’ll need to include a spreader-sticker product in the sprays,” he said.

Spring rains favor iris leaf spot development. The disease itself spreads when wind or splashing rain transports spores from the fungus’ dead-foliage home onto nearby green iris leaves.

A new disease cycle’s first symptom is simply red-rimmed spots that are one-eighth to one-fourth of an inch wide. Soon, however, the surrounding tissue will look water-soaked and then yellow. The spots will enlarge even more after the plants flower and may attack stalks or kill entire leaves.

“This leaf spot won’t kill irises directly,” Upham said. “The plants will look ratty. And, repeated attacks can reduce plant vigor to the point that the irises may die from any of a range of other stresses.”