In Brief

By Mike Eskenazi

DON'T REBOOT, RECYCLE Anyone who finds a PC under the tree this year faces the question of what to do with the now outdated box. You can convert that old PC into a write-off rather than a doorstop--provided it's not too ancient. Groups like Share the Technology match PC donors with worthy charities. Or, for $29.99 IBM will take your PC and fix it up for a charity or recycle it.

TIME TO REFINANCE If you bought a house this year, you enjoyed both a hot market and mortgage rates that spiked at nearly 9%. You need some relief--and now may be a good time to think refinance. Although rates will probably continue to ease, some experts suggest refinancing now, while the saving is assured. This is not like the last refinancing boom, in 1992, when homeowners needed at least a 2% differential to make refinancing pay. Lower bank refinance charges have changed the equation.

Total loan repayments for $300,000, 30-year fixed mortgage

INTEREST RATE 8.5% $788,994 7.5% $717,174

BONDS ARE BOOMING With the market limping badly and the economy stagnating, inflation-indexed Treasury bonds are gaining some momentum. The bonds, first offered last year, are increasing in yield, as expected easing of the Fed's interest rates has bolstered demand in recent weeks. Certainly, inflation is no big deal and no big scare, but it's still there. With these indexed bonds, the Treasury adjusts the principal annually in accordance with annual cost of living increases, so interest payments, like Social Security checks, provide a current-value source of steady income. It's a no-lose deal, which can't be said for stocks.

--By Mike Eskenazi