The Dangers of Avoiding Credit
My 25-year-old coworker thought she had done everything right when it came to protecting her credit. She paid off her student loans early. When she does use a credit card, she pays it off in full each month. And she’s never been late on a monthly bill. Her credit score was over 750, which is considered excellent.

Despite that stellar record, multiple lenders turned her down for a mortgage earlier this year. The reason, they told her, was that her credit record was simply too light. Since she had paid off her student loans and didn’t use much credit elsewhere, they had no way of knowing whether or not she would be responsible with a mortgage. In other words, she was being penalized for living a relatively debt-free life. To make matters worse, one of the lenders told her that because she was shopping around so much for a loan, the multiple inquires into her credit report were starting to negatively impact her score.

Her experience gets at one of the great weaknesses of our credit reporting system: In order to borrow money, you have to have already borrowed money. That’s the only way you can demonstrate that you are “credit-worthy,” as the credit reporting bureaus put it. To get to the bottom of this conundrum, I spoke with Rod Griffin, public education director for Experian, one of the big credit reporting bureaus. Here are two truths and four myths about credit reports:

Truth: Having little experience with credit can make it hard to take on a mortgage.
The first thing lenders look for when assessing whether or not they want to give someone a mortgage is their credit history, says Griffin. That means you need to have open, active credit accounts in your name in order to demonstrate that you can handle credit.

READ MORE: 

http://money.usnews.com/money/blogs/alpha-consumer/2011/02/17/the-dangers-of-avoiding-credit

6 Ways You might be Hurting Your Credit Score

If you've been trying to boost your credit score—which is a good idea, since people with higher scores tend to pay lower interest rates on loans—you might be going about it all wrong. It turns out that many people don't know just what helps, and hurts, their credit scores. Here are six ways you might be accidentally damaging your score:

1. Avoiding credit altogether. While living a debt-free life sounds like a good idea, it can actually make it harder to take out a loan when you want to. That's because lenders look for experience with managing debt—they want to see that you can make consistent, on-time payments each month—before deciding whether or not to issue you any more of it.

2. Comparison shopping. While checking around for the best price is a savvy move in theory, in practice, it can ding your score. When you call different lenders to check on mortgage rates or auto loans and they issue you a quote, they first check your credit history with the credit bureaus. That can look like you're preparing to take on too much debt, which concerns lenders. While the impact isn't huge, it can hurt people with limited credit histories more, because they don't have much experience to balance out the negative impact from the credit checks.


READ MORE: 

http://money.usnews.com/money/personal-finance/articles/2012/07/02/6-ways-you-might-be-hurting-your-credit-score

Does the Nigerian prince exist?

The quick answer is that Nigeria is a federal republic and not a kingdom. There are no princes whose funds are frozen and need help from an American stranger.

A few years ago, I had a friend who shared a story of a struggling prince in a far away land whose money was frozen. The prince had no one else to turn to for help. She was chosen. My friend corresponded with the prince’s lawyer through email and she was convinced she had won the lottery. She even excused the bad grammar in the email indicating English wasn’t their first language.

If you’ve read these emails you might be familiar with the story of a prince or benefactor of a large estate that needs help to pay for tax liens. Payment of these liens would free up the millions that were frozen. There are variations to this story.


My friend wasn’t going to receive a multi-million dollar payout immediately. The lawyer needed her help by clearing a smaller check. She would receive a cashier’s check for the amount of $5,000 and was asked to Western Union $2,000 back leaving her a hefty commission of $3,000 for her troubles.

My friend did as she was instructed and deposited the check. The check was cleared as a courtesy. [Keep in mind that check deposit holds vary per institution policy and government regulations. If you have a good relationship with your credit union or bank, chances are they'll make the check amount available to you in good faith. But that doesn't mean the check has cleared the bank its been drawn on.]

READ MORE: http://blog.phroogal.com/does-the-nigerian-prince-exist/#.Uh5L6q3D8m5

Congress OKs cheaper student loans - CNN MONEY

The House on approved a bipartisan bill that ensures lower interest rates on loans for students heading to college this fall.

Members of the House voted 392 to 31 to lower rates for undergraduates taking out government loans this school year to 3.86% -- cheaper than the 6.8% interest rate that kicked in on July 1. The new rates would be retroactive and apply to loans taken out after July 1.

The bill has been signed into law.

It has provisions for rates to go higher in coming years.

As House members debated the bill, many Republicans took credit for the deal. They noted that the Senate version wasn't much different from their own student loan bill, which linked rates to the bond markets.

"My colleagues and I have been fighting for months for a long-term market-based solution that will serve students and taxpayers, and the legislation before us today will do just that," said Minnesota Republican John Kline, who runs the House education panel.

The new rule doesn't apply to loans that students get from private lenders. It only affects Stafford loans, which are made by the U.S. government to help finance a college education.

On July 1, the interest rate on subsidized Stafford loans doubled from 3.4% to 6.8%, affecting 7.4 million students. The subsidized loans are based on financial need and account for about 26% of all federal student loans, according to the Congressional Budget Office.

Unsubsidized loans and graduate loans were already paying 6.8% interest rates.

READ MORE: http://www.money.cnn.com/2013/07/31/pf/college/student-loan-house/index.html

Debt-Free or Skinny? Survey Answers Which We'd Rather Be

Americans are notoriously body-conscious. We're also money-conscious. But does our obsession with weight and looks trump our concern about our personal finances?

A new survey by Credit Karma, a financial tracking and educational site, and Harris Interactive found that yes, Americans are more concerned about their waistlines than our bottom lines.

 The most startling fact to come out of the June 2013 survey is that 72 percent of the 2,021 respondents said they would rather live with their current debt than gain 25 pounds and be completely debt-free. Only 28 percent said they would be willing to gain that much weight to get out of debt.

 In a similar vein, 43 percent of those surveyed agreed with the statement: "How much I weigh is more important than how much debt I have."
 
  And if you think that it's women care more than men about their weight, you'll be surprised to learn that men were more likely to agree with that statement (49 percent) than women (38 percent).


 Among those surveyed, 74 percent said they have some debt and 46 percent said they have credit card debt. The mean amount of credit card debt for the group was $5,900.

 Some of the other findings of the survey include:
 •64 percent of those surveyed think about their physical appearance more than their debt.
•35 percent worry more about how they look than the debt they're in.
•70 percent said they care more about their physical health than their financial health.

But interestingly, when the cases got more extreme, the positions flipped. Given the choice between being obese and debt-free or their ideal weight but facing bankruptcy, 62 percent chose the option of being obese, while 38 percent would rather face bankruptcy.


READ MORE: http://www.dailyfinance.com/2013/08/05/debt-free-or-skinny-survey-americans-prefer/

The Worst ATM PIN "Number" Is.......

1234  Surprise! It looks like we have a problem with creativity.

There are 10,000 different possible four-digit ATM PINs , but almost 11 percent of PINs are 1234.

In a study by Data Genetics, in which 3.4 million passwords were analyzed, the most popular, and therefore most dangerous PIN numbers were discovered.

The top 10 most common PINs:

1.1234
2.1111
3.0000
4.1212
5.7777
6.1004
7.2000
8.4444
9.2222
10.6969

The study used data from "released/exposed/discovered password tables and security breaches," since you can't get access to PIN number databases, Data Genetics explains.

The top 10 most common passwords make up over 20 percent of all of the passwords found, and 26.83% of all passwords could be guessed by attempting the top 20 most popular combinations. The study also revealed that four digit numbers starting with 19 (the century today's adults were born in) are bad passwords.

So what's the solution?  READ MORE: http://www.huffingtonpost.com/2013/08/02/worst-pin-numbers_n_3696560.html

Housing by the Numbers

Are you looking to buy a house? Rent? Here are some important numbers to keep in mind as they may apply to you and your transaction.

Your credit score
While you likely know how important this little three-digit number is if you’re looking to buy a home (Zillow’s analysis of more than 25,000 loan quotes and purchase requests shows that you need a score of 740 or above to get the best mortgage rates), it’s also really important if you’re looking to rent — especially in a market that’s as competitive as the one we’re currently in. If you’ve got good credit, flaunt it! Use it, as well as your steady job, as a negotiating tool to get a better deal. After all, model tenants, who save landlords both time and money, are hard to come by.

Mortgage rates
Mortgage rates are hovering near two-year highs — currently 4.29 percent for a 30-year fixed loan, according to Zillow Mortgage Marketplace — and they’re only expected to continue to rise, particularly as the job market improves and the economy strengthens. Point being, if you’re interested in buying, and you’re thinking long term, you might want to get off the fence sooner, rather than later. After all, every 1 percentage point increase in mortgage rates makes a home about 12 percent more expensive for buyers.

Total costs of home ownership                         
Your housing costs — which include your mortgage, insurance and taxes — will vary significantly depending on where you live. It’s a good rule of thumb that costs should be no more than 25 to 28 percent of your monthly income. If you’re over these percentages, but are creditworthy, you can, of course, shrink your monthly costs by making a larger down payment.

Read more: http://www.foxbusiness.com/personal-finance/2013/08/02/housing-by-numbers/#ixzz2bsVwTKww


By Vera Gibbons

Why Banks Might Refuse to Take Your Money

People are being denied bank accounts based on what’s in reports that most of us never even knew existed. 

Most people are familiar with the idea of a credit score — usually a FICO score or a Beacon Score — that determines whether or not a lender will let you borrow money, and at what rate.

But there’s a lesser-known credit reporting system that dictates what you’re allowed to do with your own money. And in some cases, these little-known systems end up giving banks reason to turn down consumers who are trying to open up accounts.

In a new investigation, the New York Times chronicles the financial rabbit hole a growing number of Americans have fallen into: They’re locked out of mainstream banking for relatively minor slip-ups like overdrawing an account, or because of mistakes in a file they didn’t even know existed.

“Hundreds of thousands of Americans are being shut out for relatively small mistakes,”

Read more: http://business.time.com/2013/08/02/why-banks-might-refuse-to-take-your-money/#ixzz2bsUbKIxE

By Martha C. White

OPINION - Debt shouldn't be a four-letter word

There's no shortage of debt detractors out there, and with good reason. After a credit crisis brought the world's economy to its knees a few years back, the downside of debt is painfully clear.

But there's a bright side, too.

Case in point: In 2006, Muhammad Yunus won the Nobel Peace Prize for his idea to use debt — as little as $200 or less — as a path out of poverty.

Or consider a young, middle-class American named Barack Obama who took out loans for undergrad and law school. That investment in education seems to have paid off for him nicely.

Last, look at revolutionary electric car company Tesla (TSLA), which recently fully repaid its 2009 loan from the government. If we had to wait until an entrepreneur had enough ready cash to build out an automobile manufacturing company without financing, we would be waiting forever

The idea is simple: A handhold to opportunity that is out of reach becomes attainable when debt gives you a leg up.

I acknowledge this concept is downright offensive to some these days. Many insist that if you can't pay for it, you shouldn't have it — case closed.

Smiling "experts" hawk books on this topic; politicians cry crocodile tears about a federal debt they themselves created; and all manner of moralists try to point out how the evil practice of borrowing is akin to slavery.

These folks prefer the more sinister examples of debt use — credit card horror stories, out-of-work art history majors with $50,000 in college loans, a bankrupt Solyndra in place of Tesla.

But the important thing isn't trying to establish debt as either universally right or wrong. Because it is neither.

Debt is merely a tool. And like guns or sleeping pills or an Internet connection, there are a wide variety of results that can arise from its use.

What we need right now is simply a better way to borrow — not an end to borrowing.
We need to help young Americans get comfortable enough with debt to be responsible borrowers. I don't mean running up bar tabs, either; some young adults are forced to use a credit card to move for their first job or to take out a loan for their first car so they can commute to work.

I use the word "forced" because it's naïve and elitist to think everyone has easy access to a few thousand dollars to make their start in the world. Life ain't that great for Millennials in 2013, and those without well-off parents are often faced with the choice of borrowing or simply letting life pass them by.

We also need better regulations. The Consumer Financial Protection Bureau that was formed in 2011 after the financial crisis has a lot of work left to do when it comes to making contracts transparent and holding unscrupulous lenders accountable.

America can and must have an honest conversation about good debt vs. bad debt, and the proper circumstances for borrowing.

But the last thing we need right now is the misrepresentation of debt as categorically wrong, or the need to borrow as some kind of character flaw.

READ MORE:  http://www.usatoday.com/story/money/personalfinance/2013/07/28/debt-credit-crisis/2586671/

Jeff Reeves is the editor of InvestorPlace.com and the author of The Frugal Investor's Guide to Finding Great Stocks.

My Kid's Drowning in Credit Card Debt! What Do I Do?

If you trusted your son or daughter to keep track of their finances, and they slipped up, what in the world are you supposed to do?
Let's say they've racked up a big, nasty credit card debt -- to the tune of thousands of dollars. Should you pay off their debts to help keep their credit score above water? Or is it better to let them learn from their mistakes and suffer the consequences? Though each individual situation is different, here are your options, what's at stake, and a few pointers to help you plot your course of action.

A Personal Loan, With a Contract
If you have the means, think about whether or not you want to loan your daughter the money. Sometimes her debt is manageable enough that you can pay it off in the form of a personal loan to your daughter. You can charge her interest as well, so she learns just how much a high APR can cost her.
But you have to examine the situation from a lender's perspective, rather than simply write a check and expect she'll make payments. What is her employment situation? Will she be able to make payments to you without the security blanket of your relationship making her complacent? Has she typically been a responsible spender in the past, or does she impulsively purchase on a grand scale regularly? If you do decide to help protect her credit history, it's a smart idea to sign a contract with your daughter to make your agreement more official and binding.

If You Co-Signed, You're on the Hook

If you co-signed on your son's account, you're responsible for his credit card debt.
 READ MORE: http://www.dailyfinance.com/2013/07/25/child-credit-card-debt-parents-advice/

3 Reasons Leaders Should Laugh More
Believe it or not, workplace levity can be quite the lightning-rod topic in many organizations.
There are a few moments in my career I won’t soon, if ever, forget.
One took place at a former employer during a meeting when an executive looked at me — with a straight, if not disgusted, face mind you — and asked why having happy employees was really “that big a deal.” I laughed, out loud, in the middle of that meeting. I was the only one. To this day that remains one of the funniest moments of my life.
As more folks connect through social media, at conferences, and however else, some get all worked up about “creating a professional image,” or some similarly expressed notion, which simply means making something look or feel or sound like what’s expected. Or at least what is perceived to be expected by a particular group of people in a particular setting. Or what they wish was what was expected.
Sadly, this often results in sucky presentations, boring social media, run-of-the-mill advertising, dreadful workplaces, robotic interactions, etc. It may be “professional,” but when’s the last time you couldn’t get something out of your mind because of how “professional” it was? When’s the last time you couldn’t wait to do something because it was just so….”professional”?

READ more at: http://themojocompany.com/2013/07/3-reasons-leaders-should-laugh-more/?utm_source=rss&utm_medium=rss&utm_campaign=3-reasons-leaders-should-laugh-more#sthash.bmAFAqdY.dpuf

Movin' On Up: It's Much Harder If You Live in the Wrong Town
The fact that it's getting harder to move up the economic ladder shouldn't come as a surprise anymore. For years, studies have shown that economic mobility in America has declined, both relative to other countries and to our nation's own history. And it's not like there's any lack of culprits -- research has cited a variety of reasons, ranging from the impact of single-parent households to the importance of good schools to the effect of America's thin economic safety net. But recently, a study by economists at Harvard University and UC-Berkeley uncovered another major factor: geography.

In "The Economic Impacts of Tax Expenditures," economists Raj Chetty, Nathaniel Hendren, Patrick Kline, and Emmanuel Saez divided the country into 741 areas, most of which include urban, suburban and rural sections. They then analyzed the degree of economic mobility in each area, noting the relative difficulty that a lower-income child would face as he or she attempted to move up the economic ladder.

The toughest climb in the country is in Nome, Alaska, where a child born into the bottom fifth of households has a 2.2 percent chance of rising to the top fifth. On the opposite end of the scale, a child born in the bottom fifth of households in Gettysburg, S.D., has a 34.8 percent chance of making it to the top fifth.

A few patterns emerged from the research: There's a whole swath of tough-to-move-up-from areas encompassing most of the Southeastern U.S., and a similarly difficult region radiating out from Chicago. On the flip side, there's a huge section of the Great Plains and another sizable section in the West where children born into poverty have a far better than average chance of making it up the economic ladder.

While the study's authors didn't offer any definitive reason for differences in relative economic mobility, they found some interesting correlations. School quality certainly had a significant impact, as did tax rates and numbers of single parents.

READ MORE: http://www.dailyfinance.com/2013/07/23/social-mobility-geography/

Rewiring the Banker Brain

A culture shift is still needed to reconnect finance with the real economy.
OPINION - Rana Foroohar - Business Time Magazine
If you are in any doubt about how little has changed on Wall Street since 2008, check out this   New York Times story about how banks like Goldman Sachs and Morgan Stanley profited wildly by hoarding and slowing the supply of various commodity metals like aluminum, driving up prices on the global market in the process. It was a truly ingenious profit-making scheme, involving sophisticated arbitrage of complex global regulations, all of which resulted in lots of money for banks, and higher prices for companies and consumers.

This story put me in mind once again of the fact that many of the best minds on Wall Street still spend the majority of their time figuring out new and smarter ways to game the system, rather than how to grease the wheels of the real economy. Just look at the record profits posted by a number of the world’s largest banks last week. The six largest are on track to post a 20% earnings increase in the second quarter of this year. But the vast majority of that money came not from lending, but from trading. While the money spigots to the small and new businesses that create most of the jobs in this country are still tight — like last year, small business lending was down again this year, according to the Small Business Administration — trading profits are way up.

Clearly, finance is still disconnected from the real economy, which is one reason that the regulation battle rages on. A new proposal issued jointly a few days back by the Federal Deposit Insurance Corporation, the Federal Reserve Board, and the Office of the Comptroller of the Currency would require some of the country’s largest banks to hold double the amount of reserve capital that they currently do. This has prompted all the usual complaints from the industry about too much regulation. Former Minnesota governor Tim Pawlenty, now the head of bank advocacy group the Financial Services Roundtable, said the new rules would make “it harder for banks to lend and keep the economic recovery going.”

Putting aside the fact that lending in key areas of economic activity hasn’t been growing, as I noted above, it’s also worth remembering that even before the new rules were proposed, many banks were complaining that they couldn’t lend because there weren’t enough credit-worthy clients to lend to. “You can’t have it both ways,” says Susan Ochs, a former Treasury Department advisor and senior fellow at the Aspen Institute who is doing research on best practices in banking.

Read more: http://business.time.com/2013/07/22/rewiring-the-banker-brain/#ixzz2Zn3j8VO8

14 Ways to Save Money On Groceries

1. Line the bottom of your refrigerator's crisper drawer with paper towels. They'll absorb the excess moisture that causes vegetables to rot.

 
2. To keep herbs tasting fresh for up to a month, store whole bunches, washed and sealed in plastic bags, in the freezer. When you need them, they'll be easier to chop, and they'll defrost the minute they hit a hot pan.

3. A bay leaf slipped into a container of flour, pasta, or rice will help repel bugs.

4. Stop cheese from drying out by spreading butter or margarine on the cut sides to seal in moisture. This is most effective with hard cheeses sealed in wax.

READ MORE:  http://shine.yahoo.com/financially-fit/14-ways-to-save-money-on-groceries-2447559.html

How to Get a Free Credit Score
The Fair Credit Reporting Act gave consumers access to free annual credit reports from the three major credit reporting agencies through a centralized source, AnnualCreditReport.com, in 2003. A free credit score has never been a right.
 
Numerous sites promise "free" scores, but in reality they sign people up for a fee-based credit monitoring product. The score costs nothing only if the consumer cancels the order before the end of the trial period.

Several sites will give you a free credit score or score estimate, such as the FICO Score Estimator at Bankrate.com. Score estimators, which provide a score range, may rely on answers to questions about your credit situation or come from credit report information, while actual scores are computed from credit report data.

None of the free scores and estimates available deliver actual FICO scores, the most commonly used score by lenders. The free scores and estimates do, however, give you an idea of where your credit rating stands.

"At the end of the day, an 'excellent' on one model is 97 percent of the time going to be an 'excellent' on another model," says Ken Lin, CEO of San Francisco-based Credit Karma, a site that provides free TransRisk scores from Transunion.

READ MORE: http://finance.yahoo.com/news/pf_article_108578.html

Budgeting When You Are Broke

Suffering from a lack of cash? It's likely that you don't follow a budget that reflects your earnings. Smart budgeting prevents eviction, increased credit card debt, and ruined credit scores. It's never too late to achieve your financial goals — get started now with these 10 steps to make your financial life less stressful.
Avoid Immediate Disasters
Don't be afraid to request bill extensions or payment plans. These requests are often granted. If your biggest worry is eviction from your apartment, talk to your landlord, but, also, see if you can get extensions on any other expenses to free up money for keeping your home. For instance, suppose that your rent is $650 and you're $200 short. Your bundled phone bill and cable bill is $60, your electric bill is $100 and your cell phone bill is $40. If these bill payments are postponed until your next paycheck, you can pay your rent now and avoid eviction.

Review Credit Card Payments and Due Dates
If you are only making the minimum payments on your credit card(s), you are flirting with a disastrous credit score. However, avoiding credit card payments will only worsen your debt.
For example, suppose that your minimum payment on a $1,000 balance is $40. You fail to pay $40 on time, so you are charged a $35 late fee. In addition, your interest on future charges is charged at the default rate of 25%. Now your credit card is even more difficult to pay off. Before you know it, you have an overwhelming collection of piled up late fees and missed payments.

Prioritizing Bills
Go over all your bills to see what must be paid first and then set up a payment schedule based on your pay days. You will want to leave yourself some catch-up time if some of your bills are already late. If this is the case, call the bill companies to see how much you can pay now to get back on track toward positive status. Tell them you are catching up and going on a stricter budget. Be honest about what you can afford to pay. Sometimes it's instinctual to say you'll pay the full amount on your next paycheck, but you may not have the full amount available after other expenses take their cut.


READ MORE:  http://finance.yahoo.com/news/budgeting-youre-broke-080000891.html

Seven Things to Never Buy New

It pays to buy secondhand, and we’re a country that knows it! We spend about $13 billion a year on used goods and likely save billions more in the process. So, to keep more cash in your pocket, here are seven items never to buy new.

Cars

Auto experts at Edmunds.com say the second you drive a brand new car off the lot it loses roughly 11% of its value. And it continues to depreciate between 15% and 25% each year for the first five years. For a better value, opt for a certified pre-owned vehicle. For example, a great condition 2010 Chevy Malibu Sedan goes for about $16,000, while the 2013 model costs roughly $25,000, according to Edmunds.com’s True Market Value calculator.

Also See: 5 Ways Greed Is Good

Designer Clothes

Frugal fashionistas know you don’t have to always buy new to look like a million bucks, thanks to high-end consignment shops found online and off. Find designer brands you love — but can’t afford at full price — for up to 70% off at sites like SnobSwap, Karma Couture and even eBay. We found a silk Prada dress that sells new for $750, but is available previously-owned at Karma Couture for $500 less.

Jewelry

Although it may be rich in sentimental value, fine jewelry can lose as much as 10% of its purchase price in the first year of ownership, partly due to hefty markups. Watches depreciate more slowly, at about 5% per year. So if you’re looking for new bauble to add to your jewelry collection, you’ll get a bigger bang for your buck at estate sales, pawnshops and online retailers.

READ MORE: http://finance.yahoo.com/news/7-things-to-never-buy-new-141659646.html?vp=1

Six Disappearing Car Features

Radio knobs are making a comeback, but lots of other features are headed to extinction.

Recently, Ford made a surprising announcement: It is adding radio knobs to its hi-tech component control system MyFord Touch. That's a retreat from cutting-edge to old technology -- a man-bites-dog scenario you don't often see in the auto business. And don't expect to see it any more often in the future.

Here's the background: In attempting to reduce driver distraction and get a jump on competitors, Ford had introduced a voice- and touch-screen system for audio, navigation, and other functions. But drivers found the new system confusing, and Consumer Reports issued a withering report on its functionality. So Ford decided to listen to popular concern and go backwards: It will now make it possible to control volume and frequency with the twist of a knob. "Familiar and easy-to-use knobs are exceptionally good ways for drivers to control in-car entertainment systems," says Kelley Blue Books' Jack Nerad. "They make for less distraction and less frustration, and that translates into more convenience and improved safety."

READ MORE:  http://finance.yahoo.com/news/6-disappearing-car-features-180017982.html

7 Ways to Boost Your Odds of Early Retirement

Early retirement certainly sounds good. Wouldn't it be nice to go off and do your own thing instead of having to come to the office to crank out another TPS report? Early retirement is also achievable if you save diligently. Here are some simple steps to help you get there someday:

Back off Starbucks. Did you know the average American spends about $1,000 on coffee? I know it's only a few bucks each time, but those little purchases add up. Wouldn't it be nice to have an extra $1,000 in your bank account at the end of the year instead? You can brew your own coffee instead of hitting Starbucks all the time.

Cut the cord. There are a ton of great TV programs that I'm hopelessly addicted to including "The Walking Dead", "Game of Thrones" and "Big Bang Theory". However, I don't even have cable TV. I get all my DVDs from the library. If you want more convenience, then perhaps streaming through Netflix might work for you. Cable TV is ridiculously expensive, and I can't believe someone would pay hundreds of dollars a month for it. Cut the cord and save some money instead. You shouldn't be watching that much TV anyway.

Pay off your debt. The average U.S. household carries credit card debt worth about $7,500. I don't have any credit card debt. It's crazy to owe so much money to the credit card companies. You'll have to pay a ton of interest every month, and that will make it impossible for you to save. Set aside a little money every day to pay down your debt, and get that debt out of your life.

READ MORE: http://finance.yahoo.com/news/7-ways-boost-odds-early-182906625.html

What You Need to Know About Health Exchanges .. the Affordable Care Act

 

 We're months away from cutting the ribbon on the new online marketplace for health insurance, but the vast majority of uninsured Americans -- the very people the Affordable Care Act is meant to help -- still have no idea whether they'll be in the shopping mood or not. According to a recent survey, nearly two-thirds of uninsured Americans say they haven't decided whether or not they'll buy health insurance by the Jan. 1 deadline (even though they'll have to pay a penalty if they don't).

Another 10 percent say they flat out won't buy in at all.

We understand the hesitation. Change is hard enough when it's simple to understand, let alone when it has to do with things like insurance, health care policy, and your own financial and personal well-being.

"People just don't understand how this is going to affect their wallet, what prices are going to be and what this could really cost them," said Laura Adams, InsuranceQuotes.com senior insurance analyst.

Here's what you need to know:  http://www.dailyfinance.com/2013/07/10/obamacare-health-exchange-explained/?ncid=widgusdail00000001

Keep Your Home Breezy on a Budget
As the summer heat rises, so too will your energy bills, which is why it helps to find alternatives to air conditioning. Here are a few tips on how to save on cooling your home.

First, maximize the cross breeze. Simply open two opposing windows or doors and place a fan at each opening. Make sure one of the fans is facing outward, and you'll be able to get the fresh air circulating, while keeping temperatures down.

Another way to cut the cost of air conditioning is to make your own. To create a DIY A/C, place one or more frozen 2-liter bottles of water in front of a fan. The chilled water will cool the air while keeping your costs low. The bottles of water can be refrozen every night, too.

READ MORE:  http://www.dailyfinance.com/2013/07/16/save-on-air-conditioning-savings-experiment/?ncid=widgusport00000003