Why you should NOT opt-in for overdraft protection.

The American Bankers Association finds that almost half of all people surveyed have signed up for (or intend to sign up for) overdraft account protection. That's a real testimony to how convincing the solicitations from the banks have been for this "service."

On August 15, the banks and credit unions became required to ask for permission to rip you off by allowing debit card charges in excess of your available balance.

Don't believe the hype about overdraft protection! You don't want to opt in for this so-called "protection." Protection from what? It's much better to be denied your $2 coffee purchase at the register when you have no money in your account than to get the coffee and be hit with nearly $40 in overdraft charges.

Ultimately, it's your responsibility to make sure you have money in your account. Carry a calculator and/or check register and record your purchases as you go. Just do whatever it takes to gets the job done -- as long as it's not opting in for overdraft protection!

DO NOT PAY FOR RENTAL INSURANCE

The rental-car clerk will offer you a collision-damage waiver (sometimes called a loss-damage waiver), which can cost $10 to $20 per day. The CDW shields you if the rental car is damaged or stolen. But as long as the rental is for personal use and you have collision coverage in your own auto-insurance policy, you’re covered without the CDW (with the same deductibles that apply to your own car).

Your credit-card benefits supplement your auto coverage. Most cards will pick up your deductible, and premium cards offer beefier coverage. (Keep in mind that credit-card protection doesn't include liability. And if you've dropped comprehensive or collision coverage on your auto policy, the rental car will be covered by your credit card if it is stolen or damaged in an accident.

Free On-Line shipping coupons

At FreeShipping.org, you can find coupons and codes to secure free (or deeply discounted) mailing or delivery from hundreds of retailers. Some of these are constant offers as long as you make a minimum order. Others are occasional deals with a limited life. And if there’s no cost for mailing, you can’t get hit with that mysterious charge for “handling,” right?

Basic Water Heater Facts

If you are a new homeowner, you may not realize that your home’s water heater uses the third largest amount of energy of all your household appliances. A water heater is crucial and in most cases you cannot reduce the amount of use that it gets.

Below are ways you can increase the efficiency of your current water heater or even replace it with a more efficient solution.

First, if you don’t want to replace your current water heater, here are three things that you can do to increase the efficiency of your water heating.

Use less hot water. Consider taking warm showers instead of hot showers, and lower the temperature of your dishwasher.

Take shorter showers when possible, or install low-pressure shower heads. Many people incorrectly believe that baths use less water than showers. Four people showering for five minutes each, three times a week use almost 1,000 gallons of water every single week.

Insulate! Just as insulating your attic reduces heat loss through the roof, insulating your water heater keeps water hot for a longer period of time.

If your water heater is more than five years old, you may need to replace it in the near future. If it is more than ten years, definitely consider replacing it before it stops functioning.
Water heaters are an enclosed mechanism and therefore cannot be repaired. It is always good to know which replacement model you will select if your water heater stops working.

Thanks  Ray Minyard for the information.

Save $1,000 by the Holidays

Here are seven ways to to infuse more cash into your budget so you won't have to go into debt to buy gifts.


Retailers are rolling out Christmas items early in hopes that consumers will buy them at full price now rather than wait for discounts closer to the holidays. Rather than take the bait, you should consider getting a head start on your holiday savings instead. That is, by trimming some costs over the next two months, you can save up to $1,000 or more to finance your holiday gift giving and celebrating with cash rather than credit.

The actual savings in the examples below will vary (especially depending on which ones you can implement). But they do show it is possible to find an extra $1,000 in your budget over two months. Be sure to share your money-saving tips in the reader comments box below.

Adjust your tax withholding. The average tax refund this year was nearly $2,900. If you got a refund, stop paying Uncle Sam too much throughout the year and keep that money for yourself. You simply need to change your tax withholding by filing a new W-4 with your employer's human resources department. To find out how many withholdings you should be claiming, try our Easy-To-Use Tax Withholding Calculator. The changes will go into effect on your next paycheck.

TWO MONTHS OF SAVINGS = $484 (based on the average refund)

Ditch the premium cable TV package. When I canceled my expensive premium cable package and opted for the cheap, basic service, I started saving $80 a month -- more than $950 a year. See Cut the Cable Cord for sources of free or cheap programming and movies. (Note: I kept basic cable service to score a discount on my phone and Internet services.) If you're not willing to give up cable, you might be able to get a discount from your provider just by suggesting that you are ready to cut the cord. Kiplinger.com Managing Editor Robert Long got his cable company to knock $17 off his monthly bill by hinting that he wanted to switch to a much-less expensive package or to even find a new provider.

TWO MONTHS OF SAVINGS = $160

Increase auto insurance deductibles. Increasing the deductibles on your comprehensive and collision coverage from $500 to $1,000, or even $2,500, can reduce your premiums by 12% to 18%. For example, boosting the deductibles from $500 to $1,000 would mean a savings of $648 per year, on average, for a family with two teenage drivers in northern California (which has a competitive auto insurance marketplace), according to the database at InsWeb, an insurance Web site.

TWO MONTHS OF SAVINGS = $108

Dine out less. You've heard it 100 times, but I'm gonna tell you again: You'll save big by eating your meals at home. If you spend about $50 on a dinner for two every time you go to a restaurant, you can save $100 just by eliminating one night out a month.

TWO MONTHS OF SAVINGS = $100

Live off your grocery stockpile. If your pantry and freezer look anything like mine, you probably have enough food to last you a couple of weeks. So skip one weekly trip to the grocery (at a cost of about $100 for a family of four), and put those canned goods and frozen foods to use.

TWO MONTHS OF SAVINGS = $100 (if you can live off your stockpile for a week; $200 if it'll get you through two weeks)

Find free babysitters. Round up another family or two and take turns watching the kids. If you go out for four hours every month and would have paid a baby sitter $10 per hour, you can save $40 per month. All you need to do is watch the other family's kids occasionally -- which gives your children a few extra playmates.

TWO MONTHS OF SAVINGS = $80

Drop your land line. If you're paying $25 a month (AT&T's current rate for unlimited long-distance calling) for home phone service but rely mainly on your cell phone, eliminate this monthly expense.

TWO MONTHS of SAVINGS = $50

TOTAL SAVINGS = $1,082




By Cameron Huddleston, Contributing Editor, Kiplinger.com

Don't be tempted to reduce your homeowners insurance

Are you properly insured at your house? You may have seen a number of stories about reducing your homeowners coverage because decreased home values may have left you over-insured. No way!

The cost to rebuild a house following a substantial or total loss is so high per square foot that you're probably under-insured.

So you must read the coverage limits when your policy comes up for renewal every year. Let your insurer know if there's no way you could rebuild your house for the specified amount. Note the name of the rep you speak to and the date/time of the call. That way if your insurer refuses to raise your limits and a catastrophic loss happens, you've already begun building a case against them.

On a related point, I advise homeowners that they can save big bucks by bumping up their deductible to $1,000 or higher on their homeowners insurance.

My rationale was twofold: First, a $1,000 deductible would prevent you from making small, piddling claims against your insurance. Second, you would pay much less in premiums in return for taking that higher deductible.

The penny-pincher always takes big deductibles. Don't have the $500 deductible of yesteryear. Today, insurance can only be used in the case of a catastrophic loss. It's a "use it and lose it" kind of thing. I saved 37% on my last renewal by having the highest possible deductible that my insurer would allow.

Finally, there's no excuse for not buying flood insurance through the National Flood Insurance Program if you live in or adjacent to a flood plain.

Flood insurance is subsidized at extra-cheap rates by your fellow taxpayers and covers damage for up to $250,000. Premiums tend to be as low as $100 annually up to $400 annually. Renters can buy a special version of flood insurance that's also subsidized.

Please note that insurers will not offer you additional coverage unless you first have this separate coverage from the feds. And if you're hit with a catastrophic flood, your basic homeowner's insurance won't pay for the damage.

Freebies to Duke Power Customers

Duke Energy has setup a giveaway of free CFL light bulbs to qualified customers.  These are the energy efficient bulbs. 


   The number is 1-800-943-7585 and press option 1, then just follow the system commands. They will ask for your account number in the first prompt but then the third prompt lets you do it with your phone number associated with the account.  Hope you find this helpful!  It takes less than a minute.  Share as you will!

FREE WI-FI

Rejoice! About 6,800 Starbucks and 11,500 McDonald's nationwide recently began offering free Wi-Fi.


You can also go to WiFiFreeSpot.com to find places to surf free when you're away from home. The database includes airports, restaurants, hotels and more.

FREE AUDIO BOOKS

Love to read but don't have the time? Download free audio books from Librophile.com and BooksShouldBeFree.com. You can listen on your computer or MP3 player while you sit in traffic, fold laundry, exercise or simply relax.
The sites offer up classic books whose copyrights have expired, including works from Jane Austen, Edgar Allen Poe, H.G. Wells, Mark Twain, Charlotte Brontë and more. And for bedtime-story help, they also have decent children's collections. (To get newer titles free, check your public library.)

FREE WORKOUTS

Forget the costly gym membership. It doesn't cost a penny to put on a pair of sneakers and go for a walk or jog in your neighborhood. Or check out a workout DVD from your local library.

You may also find free instructional workouts in your area. For instance, Lululemon Athletica stores offer free yoga classes weekly. We also searched the Web and found free tai chi sessions from a variety of organizations in several cities, including San Francisco, Omaha and New York.

FREE PASSPORT PHOTOS

You'll pay about $15 at the post office to get your picture taken for your passport. Instead, take your photo with your own digital camera then upload it to ePassportPhoto.com, which will help you size it properly before printing it on your home printer.
The best part: You can redo your picture as many times as you like to get it right. After all, who wants to get stuck with a bad photo for the next ten years?

FREE EDUCATION

Many colleges and universities, such as Johns Hopkins, University of Notre Dame and Massachusetts Institute of Technology, post course material and lectures on their Web sites. You won't get credit toward a degree, but you can pursue an interest, sharpen your skills or even learn a language.
You can also go to Apple's iTunes U to access more than 250,000 free lectures, videos and other materials from 600 universities, including Oxford, Stanford and Yale.

FREE DIAMOND-RING INSPECTION

One loose prong can weaken the setting on your diamond ring, risking the loss of your sparkler -- and thousands of dollars with it. Most jewelers will inspect your ring free of charge, especially if you purchased your jewelry from their shop. Many will even throw in a free cleaning.


It's a good idea to take advantage of this freebie at least once a year.

FREE TECH SUPPORT

If you're a member of Sam's Club or Costco, you can get free tech support -- even if you didn't buy the device at their store.

Or, for PC problems, anyone can head to TechGuy.org or 5starsupport.com for free help. You can search the forums for your computer's particular ailment or post a question to receive a timely response from the sites' groups of geek volunteers. And don't forget to try the manufacturer's Web site. Many post user manuals and FAQs to help you solve your dilemma.

FREE CAR-REPAIR HELP
It won't fix your car free (darn), but RepairPal.com will help you find out whether your mechanic is quoting a fair price.
Enter your car's make, model and year, plus your zip code. Then choose among dozens of fixes to get a price range for the job at dealerships and independent shops in your area.

Save money on your phone bill with Google

From Articles

Google is bringing Gmail and Google Voice together with the launch of phone call integration within Google Chat and Gmail.

* Phone Calls in Gmail announced. The option to “Call phone” now appears within Google Chat. When you click the link, a Gchat pop-up appears where you can dial numbers and make phone calls.

* Phone calls in U.S. and Canada are free, and calls to most countries cost $0.02

Google has a cute little video for Googll Voice in Gmail. And here it is:

Saving money at USPS - Express vs Regular

Most people believe that the United States Postal Service is somehow owned and operated by the U.S. Government. In reality, it is not. The USPS operates by a government mandate, and in contract with the government, but it is a for-profit business with a corporate hierarchy, profit margins and budgets. As is the case with most businesses, sales representatives will often try to up-sell the customer for services they do not necessarily need. The most popular form of this at the post 0ffice is a postal clerk strongly suggesting an expedited shipping service, when it is not needed.Most customers are not aware of the many ways to ship certain, such as via printing postage off WWW.USPS.com (which is priced at a discount and comes with free tracking service for first class and priority), and/or the use of flat rate envelopes, which can accommodate hold up to 70 lbs for $4.80 (priority) and $16.33 (express).

Another misunderstanding is the pace at which parcels are shipped and received. Shipping regions are categorized into groups of proximate states. Each parcel can reach its destination at about the same pace as others in this region. For example, if you lived in Newport Beach, CA you can expect a parcel shipped to Los Angeles, San Francisco, or to Phoenix, AZ to reach its destination in about a day using USPS Priority, as long as the parcel is received by the shipping office by 5PM. Most customers are unaware that the lesser-priced Priority Flat Rate ($4.80), can make it to their destination as quickly as Express Flat Rate ($16.33). Express shipping rates also increase greatly if the parcel shipped is over 1 Lb, and Flat Rate packaging is not used. There is a wealth of knowledge regarding the shipping system online at www.usps.com. This may not be the source of the biggest savings for everyone, but over the course of one’s lifetime (especially around the holidays and important birthdays) the cumulative money overspent on postage can be significant.

Saving Money on food at a Sporting Event

Nachos, Beer, Sodas, Candy and Ice Cream. Bottled water too. Sporting events are a wonderland of junk food. And baseball and football stadiums across the country sell their refreshments at highway robbery prices. Many will argue that getting a beer and a hot dog at the baseball game is part of the experience, but for those looking for a healthy or cheaper (or both) alternative, outside food can often be legally brought into the parks. For those unwilling to pay super-inflated park prices, they can call the local stadium in advance to see what types of food items may be purchased outside and subsequently bought in. Calling the stadium to make see if this is an option, is one way of cutting expenses for a professional sporting outing nearly in half, and can be done as easily as dialing free 1800-GOOG-411 (very convenient) on the way to the game.

The cheapskate next door

This is a guest post from Jeff Yeager, author of the newly-published ">The Cheapskate Next Door. Yeager calls himself the Ultimate Cheapskate — and his wife agrees. Yeager is also a contributor at Wise Bread and on the Early Retirement forums.

“Sure, we could afford to spend more, but why would we? It wouldn’t make us any happier.” — Those are the words I’ve spent the last two-and-a-half years traveling the country to hear. It’s a simple but rare statement, given that nearly half of all Americans say that they literally live paycheck-to-paycheck and have little if any savings.

How can some people live not only within their means, but substantially below their means — even when their incomes are often less than the national average? And here’s the biggest question of all: How can some of those same people insist that they’re happier — joyous, really — because of their thrift and frugality?

Some of what I found may not surprise you. These frugal folks:

• Despise debt and have found creative ways to eliminate it from their lives.
• Differentiate between “needs” and “wants,” and between “affordability” and “borrow-ability”.
• And, yes, most own and still wear at least one article of clothing dating back to the Carter administration (or earlier).

These aren’t your miserable, Scrooge-like cheapskates. These are folks who know what’s important in life, and they skip the rest. Here’s a glimpse inside the mind of the Cheapskates Next Door:

• Cheapskates say, “The Joneses can kiss our assets.” Cheapskates are highly self-confident and proud of their frugal lifestyles, caring very little about what others think of them and even less about things like buying designer brand names and keeping up appearances with the Joneses.
• Cheapskates are immune from buyer’s remorse. Most shoppers eventually regret nearly 80% of the discretionary items they buy; but cheapskates are “premeditated shoppers” and, because of it, are largely immune from buyer’s remorse. Nearly 90% of the cheapskates surveyed say they “never” or “rarely” regret a purchase. And they don’t shop for “recreation” or “therapy,” which is one reason they prefer shopping at thrift stores (with a more certain selection of merchandise) than wasting time shopping at yard sales.
• Cheapskates appreciate appreciation (and depreciation, too). Other than when buying a house, most people usually don’t think about whether something will increase or decrease in value after they buy it. Cheapskates are tuned into appreciation/depreciation, often preferring to buy antique furniture (like the Amish do) that will retain/increase in value, and buying everything from cars to computers to clothing used, rather than new, so that the first owner pays for most of the depreciation.
• Cheapskates know that the best Things in life aren’t things. Social science has shown that Stuff tends to disappoint us over time, but experiences — how we spend our time — is what adds true value and meaning to life. Cheapskates value their time, and the things they can do with it, more than money, and the things they can buy with it.
• Cheapskates answer to a higher authority. For most of the cheapskates polled, it’s truly not about the money. Nine out of ten cheapskates say that their decision to live a more frugal life isn’t about trying to amass a big savings account; rather it’s primarily grounded in some higher ideals, such as religious beliefs or environmentalism. That’s why, of the cheapskates polled, they donate nearly twice as much to charity as the average American.

One Way to Lower Your Doctors Bill

In his book, “Secrets of a Stingy Scoundrel: 100 Dirty Little Money-Grubbing Secrets,” Consumerist.com’s contributing editor Phil Villarreal shares one way to get a lower medical bill.

Last year, he was able to knock $1,000 off the $4,000 price of his daughter’s birth simply by asking the hospital, obstetrician, anesthesiologist and pediatrician to each reduce their bills by 25 percent if I paid the bill in full over the phone.

“It seems the medical establishment is so used to getting stiffed by patients who either declare bankruptcy or just flat-out refuse to pay, that they’ll give up one in the bush for three in the hand,” Mr. Villarreal wrote in his book.

What was his exact script? Here it is.

“Hey, my friend told me that if I offer to pay the bill in full over the phone, I get a 25 percent discount.” And the response he generally received was “O.K.” “It was the same conversation with the doctors as it was with the hospital. There was no negotiation whatsoever. Just standard procedure,” Mr. Villarreal said by e-mail.

Good Luck and I hope it saves you some money.

Banking Fees You Should Never Pay

Banking fees of all sorts

Banking fees are generally small -- a couple dollars here, a couple dollars there -- but they can add up to hundreds throughout the year if you’re not careful. Don’t pay money just to manage your money. You can take easy steps to avoid these fees:

• Overdraft fees. Sign up for low-balance alerts via e-mail, and link your checking account to your savings account to move money as necessary to avoid $35 fees for insufficient funds.

• Checks and postage. Pay your bills electronically instead. You’ll also avoid any late fees and black marks on your record if the postal service loses your payment.

• ATM fees. Know where your own bank’s ATMs are located, even in other states, so you can save $3 every time you get cash out of the wall. Or consider switching to a bank that offers free ATM usage regardless of which bank’s ATM you tap.

• Coin-counting commissions. Save the 5% it can cost you to cash in your nickels and quarters at the supermarket. Coin counting is gratis at hundreds of TD Bank branches in the Northeast, Mid-Atlantic and Florida, whether or not you have an account. (Just pray the machine, called Penny Arcade, isn’t down for service. That seems to happen a lot.)

How to Reduce the Cost of Dental Work

I have no training in dentistry, so I am left to trust the recommendations of the professional. Dentists are businesspeople, so part of their motivation should be to ensure patients are happy with their treatment and return. Just like any other business, there are some who make recommendations based not on what is necessary but on what will result in bigger spending for the customer.

1. Get a second opinion for any major expenditure. If your dentist is suggesting a root canal as a treatment for a cavity, you might want to shop around by visiting other recommended dentists.

2. Find a dentist that accepts your insurance. My dentist’s office is not a participant in any insurance plan. That means they are free to charge more than the negotiated rate a plan dentist might charge. While they submit my charges to the insurance company, I am responsible for any amount not covered. I could save some money by finding a dentist who accepts my insurance, but I prefer to stay with the same dentist I’ve been visiting for about ten years, and my insurance usually covers almost all of the cost.

3. Consider whether you need every recommended service. Insurance companies generally don’t pay for fluoride treatments for adults, for example. If your teeth and gums are in great condition, fluoride may be an unnecessary expense. Some dentists are more aggressive than others and are willing to suggest treatments at the first sign of a problem. Don’t be quick to dismiss treatment, but don’t be afraid to ask about other options.

In addition to improving your health, taking care of your teeth also improves your appearance. In today’s economy, your appearance could be the difference between getting a job after an interview and not getting called back in. It’s unfortunate, but appearance plays a role both in conscious and subconscious impressions.

At least with auto mechanics, customers can have more than a basic knowledge of their own vehicle and with some focus can determine when professionals might be attempting to take advantage of their situations.

Cut Debt Now, Save Later

Should I focus on paying off debt or saving more money for retirement?

Debt is like a monkey on your back. The best thing we can do is pay off debt. This is especially true since money sitting in a bank account is earning less than 1%. After you have paid off your debt, you can focus on saving for retirement.

5 Financial lessons for College Students

Forget tuition. Once that bill is taken care of, the biggest financial challenge you face when sending kids off to college is making sure they don’t overdraw their checking account or run up a credit-card bill they can’t pay off.

(1) Open a low-cost checking account in your child’s college town, especially if his current bank doesn’t have branches there. Pay close attention to the bank pitches you’ve been getting in the mail so that you can spot the best combination of low balance requirements and low (or no) fees. With a host of new regulations squeezing bank revenues, totally free checking will be harder to come by and may come with strings attached, such as a minimum number of required debit-card transactions. For help in searching for an account, go to www.checkingfinder.com.

Extra credit: Choose a bank with a network of ATMs that’s convenient to your child’s dorm or favorite hangouts. College kids are notorious for running up ATM fees by going to the closest machine, even if it’s not in their bank’s network.

(2) Set up an overdraft plan. Students are also prime candidates for racking up charges by overdrawing their accounts with small purchases at the drugstore or coffee shop. As a result, they’re particularly affected by new rules that prohibit banks from automatically enrolling customers in overdraft-protection programs. Now you have to actively select such a program or choose a less-expensive option, such as linking your child’s checking account to a savings account -- or letting him suffer the embarrassment of having his purchase declined.

Extra credit: Have your child sign up to get balance alerts via e-mail or text when his balance is low.

(3)Downplay credit cards. New rules require that young people under 21 have a co-signer when they apply for a credit card. Don’t be too quick to sign, or even to make your child an authorized user on your card. Your student should first be responsible enough to manage a checking account. If he doesn’t overdraw his account, he may be mature enough to handle a credit card. But don’t rush it.

(4)Guard personal information. This is the Facebook generation, who will tell the world “everything but their underwear size,” as a friend of mine puts it. Better they should reveal the size of their skivvies than disclose their PIN or credit-card number, even to a friend.

Extra credit: Remind your kids that when they’re shopping online, they should look for secure transaction symbols, such as a lock in the lower right corner of the browser window and a Web address that begins with “https.”

(5)Keep track of expenses at least for the first semester. Student services should be able to estimate how much the average student will shell out for entertainment, travel, food outside the dorm and other miscellaneous expenses. But your kid may not be average. He can monitor his own transactions via online banking.

Extra credit: Before your child leaves home, make it clear which expenses you’ll cover and which are his responsibility. Hint: He gets to pay $300 for a football season ticket.