Over the last 4000 years, bankers have had quite a bit of time to improve their trade. Now the financial services companies such as banks and investment firms are some of the most profitable businesses in the United States. Of course there’s a lot of competition for your business, so banks have to give out a number of perks and high interest bank rates to get new whatever new account you are looking for, whether it be a checking account, 6 month CD, or a savings account, but they have to make up that money from somewhere. Quite often banks will make use of some less than honest business practices in order to separate you from your money. Be sure to know what they are so that you don’t get trapped by them and have to write a check to the school of life.

Many banks have begun using what’s called a two-cycle billing process for credit cards. Here’s how it works. Let’s say you borrow $100 on a credit card. You pay $50 on it the first month, and $50 on it the second month, and pay it off. On the third month, you have a zero balance, but the bank still charges you a finance charge! This is because with two-cycle billing, they use the average balance of the last two cycles to calculate the amount of interest you pay. So in this case, you would still be paying interest on $25, even though your account was wholly paid off. Discover’s credit card line is perhaps the most notorious making use of this shady business practice.

When you are banking online, more often than not your bank will show you what’s called an available balance. Allegedly, this is the most accurate picture of how much money the bank thinks you have today. This is all well and good, but sometimes that number is a bit less than honest. Many online banks add the amount of overdraft protection you have on top of the available balance. So if you had $500 in your checking account, and $500 in overdraft protection, you would see an “available balance” of $1000. This will cause people to think that they have more money than they actually do. They spend the money they think they have and end up pay un-necessary overdraft protection fees

When banks offer Visa debit cards, they often claim to offer the exact same protection as your Visa credit card. This is not the case. If someone were to steal your Visa credit card, you can easily have all of the money refunded. When someone steals your Visa debit card, you can have all of the money that was in the account refunded, but there’s a catch. If they steal your debit card, chances are they are going to cause several overdrafts giving you hundreds of dollars in NSF fees. Visa isn’t under any obligation to pay for these things if your card is stolen. If your bank doesn’t want to cooperate and waive them, you’ll get stuck paying them.

It doesn’t end there. Quite often your bank will send you a check in the mail for ten dollars or so and on the back of the check, there’s a little note that says if you sign this check and deposit it, you are automatically enrolled into some sort of credit protection or other optional program. If you don’t pay close attention, and a lot of people don’t, you could find yourself paying $10 a month for some service you probably don’t need.

These are just a few examples of the many things that banks will do to separate you from your money. They are completely legal, but very deceptive. Watch out, and always read the fine print.

Late this year or early next, you will be able to upgrade your home appliances, furnaces and air conditioners and receive a generous rebate for doing so. Like Cash for Clunkers, this program is being established to help both consumers and an economy which continues to struggle through a recovery period. In addition, the program will also improve our environment by offering rebates only on energy efficient appliances. Consumers can get ready to go green and stimulate the economy at the same time.

Retailers and makers of appliances, heating systems and cooling systems have been struggling over the last few years. Sales have seen double digit drops two years in a row, the worst in industry history. The government is hopeful that this program will increase sales for these retailers and appliance makers and boost the economy at the same time.

Cash for Appliances, while federal government funded, will be controlled by each individual state. Three hundred million dollars have been set aside for this stimulus program, and the money will be distributed to each state sometime near the end of November. Each state will get an allotment of money for their individual program based on their population. This will average out to about $1.00 per person.

Right now, your state is coming up with its own plan on how the rebates will work. Each individual state will determine what will qualify for a rebate and what that rebate might be. Once a plan is in place it then has to be approved before moving forward. All state plans must stipulate that rebates can only be given out for appliances that are Energy Star Sealed. The general thought, at this time, is that consumers will most likely see rebates between $50 and $200 per item.

Consumers who take advantage of this program will also benefit with lower energy bills. Energy efficient appliances are said to use up to 30% less energy than their counterparts. Over a year’s time this can add up to a significant amount of savings for homeowners and renters alike. It is the government’s hope that consumers will put that savings back into the economy.

As we near the end of the year, be on the lookout for your state’s Cash for Appliance Plan. If you are interested in taking advantage of this stimulus offering, you will want to be ready. Once the money in your state is gone- so will the rebates available to you.

This is a good time of year to take advantage of credit card offers, particularly if you’ve got reasonably good credit.  Want to make money off the credit card companies?  Just consider it revenge for all the people out there who are struggling to pay extremely high interest on their credit card accounts and are barely keeping their heads above water.

Here’s what you do:  First, look for a credit card that’s offering a 0% promotion for twelve months.  You’re looking for a specific offer that includes 0% interest on cash advances for twelve months.  These are not as common as credit cards offering 0% interest on new purchases or balance transfers, but they do exist.

Once you find it, apply!  While you’re waiting for your card or cash advance checks to come in the mail, you’ll want to find a high interest savings account that you will use to deposit your cahs advance in for twelve months to earn as much interest as possible.

 Consider:

• Ing Direct 12 month CD 2.50% APY
• Capital One Direct Banking 6 month CD 2.6% APY
• E*Trade online savings account 2.4% APY

When your cash advance is available, deposit as much as you’re allowed to take out into the high interest earning account of your choice, and leave it there for twelve months.  Just make the minimum payment each month on the credit card (as you aren’t paying interest on it anyway).  At the end of twelve months, you pay back the remaining balance on your credit card cash advance and the rest is what you’ve earned!  Making money on credit card lenders money… what could be better than that?

To give you an idea, if you invested $5,000 for twelve months, at 3% interest, you would have $5,256 at the end of the year.  So you earned over $250 on someone elses money!  Then, you can simply look for the next credit card offering the 0% interest offer on cash advances and do it all over again!  Leave your earned $256 in the account along with your next cash advance deposit, and you’ll earn a little more because of the higher deposit.

Create a Budget

The “B” word is never a good word for individuals experiencing tough times financially.  Even though it’s a dreaded word, the fact is – if you’re having trouble keeping up with your living expenses, a budget is the answer to your prayers.

When you know how much money you have coming in each month, and how much money you have to pay out each month, you can accurately plan what to do with each of your paychecks.  If you pay $800 a month in rent, you know you should set aside $200 each week to cover rent when it comes due.

If you find that your expenses are greater than your income – you  need to get a second job, work overtime, or find ways to decrease your living expenses drastically to ensure you are earning enough to pay your bills and living expenses.  This is probably what lead you to borrow from a payday loan in the first place.

Decrease Expenses to Pay Loan

Be committed to paying off that payday loan.  If it means canceling your cable television service or downgrading your cable from 600 channels to 30 channels for a few months – so be it!   In all of your expensive categories, look for ways to reduce what you are spending.  Whenever you are able to save money, send that money immediately to the payday loan.  These additional payments will chip away at the loan and help you pay it off faster (therefore saving interest and finance fees).

Plan for the Future To Avoid Payday Loans

As soon as you’ve paid off your payday loan, you need to figure out how to manage without relying on them.  While they might feel like a quick fix to an immediate problem, the fact is the interest and fees end up costing you so much money in the long run and putting you in even more financial difficulty. 

 Set up a savings account for emergencies and set aside a few dollars every single payday.  Even when you don’t think you have enough, put $2 or $3 into the account.  If you save consistently, it will eventually build up and give you some emergency cash to use instead of another payday loan in the future.

There are several ways to assess the reliability of an online loan provider. What you may think doesn’t matter may be the little things you should really be paying attention to and looking at carefully. Here are a few tips for checking out the lenders on the web.

Company Standing

With the convenience of the internet, a quick search can reveal reviews and critiques by fellow consumers who have done business with the company previously. In addition to hearing feedback from strangers, you can also check with family, friends, and the Better Business Bureau to see if anyone has complaints about company service.

Company Website

While it may be a pop-up advertisement that caught your attention in the first place, you definitely don’t want to be inundated with pop-ups while reviewing the website. Make sure that the pages of the company site load quickly and efficiently and that the information content makes sense to you and is complete. Be wary if there are a lot of error messages with page loads or if written information seems incomplete.

Company Privacy

Obviously there will be plenty of your personal information disclosed during a loan application. Check out the privacy policy on the website. A huge red flag should be thrown if there isn’t one on the site. If there is a policy posted, review it for content and sensibility.

Company Profile

Check out the About Us or Profile page of the company on the website. Look for the company history, mission statement, and staff profiles. Not all companies will have the same information but there should be some information that provides you with background information. If not, you have to wonder what the company is hiding and why they are not sharing more about themselves when they expect you to tell them everything about yourself.

Company Application

Many online lenders offer you an initial form or application to complete in order to gauge approval potential. If you feel uncomfortable with the information being asked of you, you probably should trust your gut instincts and look for other loan alternatives.

Company Offers

If you have solicited information from other companies, it is important you read all of the fine print, including the fees, interest rates, and terms. This should be one of the most important pieces of information for making a decision. Compare at least 3 company offers before making a decision. Do not just go with the first company that gives you an approval or you could end up in a financial nightmare.

Company Communications

Once you have made a decision to move forward with the loan process, pay attention to how the company representatives treat you. If it is not easy to reach the company staff or you find it difficult to deal with the employees, you should consider moving on to a different company. After all, you will have to deal with these people for a long period of time and it is your money and personal finances that are affected by the loan so you must take control of the situation.

There are several things to think about before signing a commitment with a realtor. Going with the wrong person or company can end up costing you more money that you ever anticipated. Selecting a realtor will require a little work on your part. It may be necessary to essentially interview several before making a final decision.

Here are some things to look for in a realtor:

Reputation – If you live in a smaller community, it may be a little more cut and dry to evaluate a company on personal reputation. You may have family, friends, or business associates that can recommend someone that is good. You may also have the advantage of knowing who to avoid.

Exposure – If you live in a larger area that may have access to many realty companies, you may have to base your choice on advertising. There may be certain companies that are all over the television, radio, or billboards but it doesn’t mean they are the best. Pick two that are very high profile and two from the phone book and compare them before making a decision. Those companies who can afford large scale advertising may be able to bring more attention to your home quickly with the right resources.

Operation – Evaluate how much commission the realtor will take after the sale. Typically, the realtor is looking for 6-7% of the sale but it may be worth your while to negotiate one or two points lower in order to get more money back in your own pocket. If you must also find a realtor to help get you in a new home, find out if the realtor will give up some more of their commission if you agree to use them to buy a home as well as sell one.

Track Record – Do not be afraid to ask for their statistics. Find out how many homes they have sold that is similar to yours. Ask if they specialize in a certain price range that is similar to yours. Inquire about the amount of homes the realtor currently has under contract at the time.

References – You should also not be afraid to ask for referral names and then make sure you check a few of them out. Check out the realtor’s membership with the local and national realtor associations.

Overall, you want to have a great working relationship with your realtor and personality does matter. Signing a contract will commit you to working with that person or company many times until the house is sold. Read all contracts thoroughly before signing anything and make sure there is a stipulation that allows you to cancel in the event you are not happy with their efforts after a certain period of time. Do not get suckered in to a long term contract and opt for a 3-6 month initial time period. If the realtor will not allow such negotiations, you may want to reconsider your commitment. While it is okay to get some advice on selling your home and setting the price, ultimately the decision should be yours and your realtor should not force you into anything.

One such notable problem that has been in the news lately is the subject of  loan fraud. Uninformed or misinformed consumers have been victims of such fraud al too often and happens during times that should be of celebration, such as when buying a home for the first time.

There are a few things consumers can do to protect themselves during the loan process and even before, to help ensure that they do not become a statistic of fraudulent loans.

1. Contact more than one company to evaluate each of the pros and cons of the loan offer. If a loan company tells you that they are the only company that will give you a loan, walk away immediately. Getting several quotes can help you ensure you are being treated fairly.

2. Be very cautious about revealing too much information about your need for the cash. If a company understands such vulnerabilities, you could be facing an unfair advantage against the loan company.

3. Under no circumstance should you be told to lie or provide misleading information in order to get a loan. It should be a huge red flag if someone asks you to change information concerning your income, cash, or expenses. Walk away from any situation like that, no matter how badly you need the loan.

4. Never let anyone force you into borrowing more money than you are comfortable repaying. When an offer sounds too good to be true, it generally is.

5. Pay close attention to the terms of repayments. Balloon payments and interest only payments should be avoided. It is important you know and understand all of terms of the loan so there are no surprises. This includes repayment terms and all fees and penalties that can be incurred due to a late or missed payment.

6. Never, under any circumstances, sign a loan form or contract that is incomplete or has blank areas on them. Check each page for correct information and read over all documents, no matter how tedious they may seem. If you find any information that is not true, make sure it gets corrected immediately and entirely before proceeding.

7. During closing, make absolutely sure that you are signing exactly what was agreed upon and that additional information has not been added or changed without your consent.

There is no reason why a kid can’t be frugal, especially in college. Here are five tips to keep more cash in your pocket on campus.

1. Live At Home – If this is an option, take it. Of course many kids worry about the cramp in their new social life but living at home throughout your college career can help save a ton of money that could be spend on further education or relocation after graduation. Plus, meals and laundry are free. For kids wishing to contribute, or for parents that want to exercise a lesson in adult responsibility, an agreement regarding monthly expenses and who pays for what is an option.

2. Ride A Bike – If it is not an absolute necessity, leave your car at home. With the rising costs of insurance, parking fees, gas, and maintenance, having a car in college isn’t very cost-effective. Get a used bicycle to get you to class or the off-campus apartments of your friends. On the bright side, no one can keep bugging you to make the beer runs.

3. Party at Home – College kids like to blow off steam and socialize. Save a lot of money by staying out of the clubs and bars and instead host a small group of friends at your place. Ask for contributions towards drinks and foods so you don’t foot the bill all on your own.

4. Look for Paid Opps – Some colleges and universities offer paid work experience in different majors. In addition to the extra spending cash, the work experience can be invaluable and looks great on a resume.

5. Flaunt the Student ID – Areas that are accustomed to a large demographic of college students will often house businesses that give discounts for various forms of entertainment, including movie theaters, restaurants, and sporting events.

6. On-Campus Entertainment – Many schools offer free or at least reasonably priced tickets to on-campus concerts and other entertainment outlets. Check the student union or informational boards for different activities that are sponsored by the college.

However, for all the good in life a hobby will bring, it can also cost a lot to participate in a hobby. For many, it is that costs that make many people feel unjustified for their splurges. There are ways around it though and for true enthusiasts, a little patience and research can do a hobby good.

Here are a few ways you can enjoy your hobby without stressing out about the cost of having one.

1. Narrow It Down – Some hobbies have several branches to them. For instance, a stamper may be interested in designing scrapbooks, greeting cards, and other things. Supplies for this type of hobby can cost a fortune over time so it helps if you pick a niche and stick with it instead of buying all different types of supplies.

2. Consider Your Goals – If you already know you want to turn your hobby into a full or part time business, or if you plan to just have fun with it – start listing such goals on a piece of paper. Planning ahead can help you better understand what you are looking to do and what you are looking to take your talents.

3. Learn Some Lessons – Hobbyist generally take issue with some of their talents and techniques. Instead of practicing the craft to find perfection, people are quick to spend money for quick fixes, which is just bad for a budget, especially if the store-bought solutions do not work. Take a look around for fellow hobbyists who are willing to help your master your craft for free or at least for a reasonable fee for their time.

4. Work At It – If your hobby is new, it will take time for you to get better and it takes practice for you to get great. If you are passionate about your hobby then committing to it shouldn’t be a problem. However, if you find you are easily frustrated or often not in the mood to work on your hobby, consider looking for something new to do and not waste any more time or money on something not worth your while.

5. Don’t Believe Everything You Hear – If your hobby is catered to by specialty stores, you’ll want to be careful when asking for advice. Many retail associates would be happy to talk you into spending more money in the shop. If someone does make a suggestion to improve your craft or technique and that advice means spending money, go home and do some research. See what others in the know have to say about the suggestion.

6. Gather a Group – If your hobby requires a lot of supplies, you may want to consider starting a local meeting group one night a month or more where people can get together and borrow supplies and equipment. Plus the bonding opportunity with people who share your passion can be invaluable.

7. Don’t Buy New - If there is a need for an expensive piece of equipment for a hobby, such as the equipment needed for photography, it may be well worth your time to research and locate used equipment online or in newspapers. You will have to know what you are looking for but can typically find a huge discount opting to buy used.

Those who live in flood-tornado-hurricane-wildfire prone areas of the nation may be a bit more inclined to prepare emergency kits and keep them updated every couple of months. Those who live in potential emergency zones have likely witnessed first-hand the need to have such a kit. People who live outside such areas may not consider the possibilities and are caught completely off-guard when an emergency occurs. House fires, for example, can strike anyone at any time. Many times people are left with only the clothing they escaped with because they were not able to think things through.

Families need to always practice an emergency plan and a kit can be prepared and stored somewhere convenient and easily accessible. Depending on the emergency and the family, a kit can contain many different things but the one MUST is cash. This stash of cash essentially is different from the big emergency fund you have in the bank collecting interest. This type of fund means having actual cash in a sealable bag or fire safe emergency kits, next to the flashlights and bottled water.

People fail to consider the domino effects of a bad storm, a fire, or other disaster. If you have to leave your home and travel farther away, you may get by with a credit or debt card. But what happens if you remain local and there is no power for days? The chances of you being able to use a credit card are slim to none. None of the machines will work. None of the ATM’s will give you access to your cash. Banks will likely be closed up. Without a bit of cash on hand, you can quickly find yourself in heap of trouble.

When adding cash to an emergency kit, you need to consider a few things.

How Much Moolah

First of all, it must be decided how much money you can afford to hold on to and not ever spend. Tucking a couple of bucks you find in the dryer into the emergency kit each week is not a bad idea but overall a set amount should be determined for emergencies. It can be a portion of cash you withdrawn from your interest-collecting emergency fund but it has to be on hand.

Length of Displacement

Consider the longest amount of time you might be without power or water or away from home. You want to provide food, shelter, clothing and other necessities for your family on a daily basis. How much money you put away should be determined by the size of your family and other individual necessities.

Safety First

Keeping cash in the house that is easily accessible may also make people feel uneasy. Do not announce to people outside of the immediate family that there is any amount of cash in the house. Use a fireproof box to keep emergency supplies in case fire is the emergency.

Remember to keep supplies fresh and updated in your emergency kit and account for inflation when it comes to your money count. If you prepared a kit two years ago and set aside cash counting on gas prices back then – you may not get too far with today’s prices.