Two Pennies Earned

What To Do If Your Identity Is Stolen

2012-01-30T06:00:00.000-08:00

Photo: Diego3336

If your identity is stolen, you may have trouble obtaining credit or getting a good interest rate. Creditors may pursue you for debts you haven't incurred. You may even encounter problems when applying for a job because of fraudulent, negative information that appears on a background check. For all of these reasons and more, if you become a victim of identity theft, you need to begin working to clear your name immediately. Read about the basic steps to take in my Financial Edge article for Investopedia, What to Do If Your Identity Is Stolen.

Who profits when you refinance?

2012-01-27T06:00:00.000-08:00

Photo: sigsegv

If you refinance, you probably expect to save thousands of dollars over the life your home loan. You can achieve lower interest rates, lower monthly payments and possibly lower total borrowing costs.

But knowing how mortgage companies and loan officers make their money can help you make sure you don't get cheated.

Learn how lenders make their money in my Interest.com article, Who profits when you refinance?

When to avoid making a homeowners insurance claim

2012-01-26T06:00:00.000-08:00

Photo: 111 Emergency

Homeowners insurance provides essential protection against expensive damage to your home, but that doesn't mean you should file a claim every time something goes wrong. In some cases, you might be better off if you handle the problem yourself.

Insurance companies have been accused of raising premiums, or even dropping policyholders, if they file too many claims or if they file the wrong kind of claim.Learn more in my Interest.com article, When to avoid making a homeowners insurance claim.

An Introduction To Complementary Currencies

2012-01-25T06:00:00.000-08:00

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In communities around the world, people have come up with alternatives to the usual way of paying for goods and services. Instead of yen, pounds or dollars, they are using privately developed substitutes called complementary currencies.

A complementary currency is a medium of exchange that functions alongside a national currency to fulfill a need that the national currency seemingly does not. According to the International Journal of Community Currency Research, community and complementary currency systems have four main purposes:

To promote local economic development
To build social capital
To nurture more sustainable lifestyles
To meet needs that mainstream money does not

To learn more about complementary currencies and how they work, read my Investopedia article, An Introduction To Complementary Currencies.

Discover’s cash-advance option could replace your debit card

2012-01-24T06:00:00.000-08:00

Photo: 401K

Discover credit card holders can get cash when they make a purchase at selected stores by taking advantage of the Discover Cash Over program. In contrast to regular, pricey cash advances, there are no fees associated with Cash Over transactions.

Learn how it works in my Interest.com article, Discover's cash-advance option could replace your debit card.

How HELOCs Can Hurt You

2012-01-23T06:00:00.000-08:00

Photo: Brock Builders

You may have heard that a home equity line of credit (HELOC) is a convenient, flexible and low-cost way to borrow money for things like buying a car, paying for your kid to go to college, or undertaking a home remodeling project.

All of these statements can be true if you manage your HELOC prudently.

But if you don't, a HELOC can become very expensive and get you into financial trouble. Learn how in my Investopedia article, How HELOCs Can Hurt You.

5 Steps To Forming A Tax-Exempt Nonprofit Corporation

2012-01-20T06:00:00.000-08:00

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A 501(c)(3) nonprofit corporation is a type of charitable organization that the Internal Revenue Service recognizes as tax exempt. This type of corporation does not pay income tax on its earnings or on the donations it receives.

Also, any time a taxpayer makes a donation to a 501(c)(3) nonprofit, they can reduce their taxable income by the amount of their donation if they itemize their deductions on their federal income tax return. This incentive encourages private charity and makes it easier for nonprofits to raise money.

If you've ever wanted to raise money for a cause on your own terms, you might want to start a 501(c)(3). My Investopedia article, 5 Steps To Forming A Tax-Exempt Nonprofit Corporation, describes what you should consider before you decide to pursue your goals through this method and tells you how to get started if you decide to move forward.

Eat Healthy And Save Money

2012-01-19T06:00:00.000-08:00

Photo: The Culinary Geek

Grocery prices rose 6.2% from October 2010 to October 2011, according to the USDA's Economic Research Service. The agency predicts a further 3 to 4% increase in grocery prices in 2012.

If you're having trouble sticking to your household grocery budget, don't stop buying more expensive healthy foods in favor of cheap junk foods. Instead, start looking for foods that are both nutritious and affordable.

Learn about some good options in my Financial Edge article for Investopedia, Eat Healthy and Save Money. Also read my previous article, Eating Healthy on a Budget.

How to ask for a credit card reconsideration

2012-01-18T06:00:00.000-08:00

Photo: hyku

If you’ve ever applied for a credit card online,you’re familiar with the following process: fill out a form with your name,address, Social Security number and some information about your annualhousehold income, monthly housing payment and sources of savings.

Click “submit,”and within 60 seconds your application is approved, denied or pending furtherreview.

If your credit card application is denied, you don’t have to take no for an answer--at least not right away.

The company has to tell you why it denied your application.

If the reason is "too many requests for credit or opened accounts with us," consider this initial rejection a starting point for a possible negotiation.

Learn how to undertake such a negotiation in my Interest.com article, How to Ask for a Credit Card Reconsideration.

What to expect from a home inspection

2012-01-17T06:00:00.000-08:00

Photo: Peg Syverson

Buyers want to make sure that a home they have under contract doesn’t contain major problems that they can’t afford to repair or don’t want to hassle with.

The person they rely on to go beyond the obvious and reveal the home’s true condition is a home inspector.

Home inspectors are specially trained to spot problems the average person is likely to miss. However, there are limitations on what inspectors can legally examine. To learn what these limitations are, read my Interest.com article, What to Expect from a Home Inspection.

How To Form A Homeowners' Association

2012-01-16T06:00:00.000-08:00

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Homeowner associations (HOAs) have become more and more prevalent. According to public policy professor Robert H. Nelson, condominiums, homeowners' associations and cooperatives "as recently as 1970 represented only about 1% of U.S. housing. By 2010, however, there were more than 300,000 community associations housing more than 60 million Americans, 20% of the U.S. population."

What does this mean for you? It means that if you're shopping for a home, you need to find out whether it's in an HOA. You need to understand what an HOA is and whether you can live with its rules.

HOAs manage issues that affect the entire community, such as safety and security, lack of property maintenance, local nuisances or the provision of services that aren't taken care of by the local government. HOAs also can be a source of major strife because of the power they wield over homeowners.

HOAs are generally formed by developers when a new community is constructed. As a condition of acquiring property in many communities, buyers must join the HOA. As a result, many people wind up joining HOAs without truly understanding what HOAs are or how they work, just because they fall in love with a particular home.

To learn about the intricacies of HOAs, read my new Investopedia article, How To Form A Homeowners' Association, about how HOAs are formed and run.

For even more information on homeowners' associations, check out 9 Things You Need To Know About Homeowners' Associations.

When your lender is required to cancel PMI

2012-01-13T06:00:00.000-08:00

Photo: Tilemahos_E

Do you have private mortgage insurance? Did you know that your lender is required to automatically cancel it when you have paid your mortgage down to a certain point?

Under the Homeowners Protection Act, your lender must cancel your PMI when the loan-to-value ratio on your mortgage reaches 78%.

Find out how to make sure your PMI gets canceled as soon as you're eligible in my Interest.com article,
When your lender is required to cancel PMI.

Rethink Your Credit Cards

2012-01-12T06:00:00.000-08:00

Photo: billaday

Now is an ideal time to take stock of your existing credit cards. What interest rates are you paying? What rewards are you earning? What changes can you make now to start off 2012 with the best cards in your wallet? Find out in my Financial Edge article for Investopedia, Rethink Your Credit Cards For Holiday Spending. Even though the holidays are over, the tips in this article still apply.

In mortgage hunt, talking to the right people matters

2012-01-11T06:00:00.000-08:00

A bad experience with applying for a mortgage might have you thinking that you can’t qualify for a home loan when you really can.

Part of the problem might be that you're not talking with the right people.

Todd Huettner, president of mortgage brokerage Huettner Capital in Denver, says that "when you call a help desk or a call center for any lender, you wind up talking to people who are essentially customer support or telemarketers. They do not have underwriting experience and cannot answer specific questions about your unique situation."

Learn who you should be talking to and why in my Interest.com article, In mortgage hunt, talking to the right people matters.

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Citi Extra Cash offers some deals, some duds

2012-01-10T06:00:00.000-08:00

Photo: Wonderdawg777

If you’re a Citibank credit card holder, you might have received a promotional mailing recently announcing that you have been awarded $100 in Citi Extra Cash.

Your first thought might have been, "Great! An extra $100 in cash back and I didn’t even have to do anything to earn it! What a nice surprise!"

Not exactly.

Citi Extra Cash is different from other credit card cash-back rewards. You can’t exchange your rewards for a check, a statement credit or a gift card.

To learn the basics of how the program works, read my Interest.com article, Citi Extra Cash offers some deals, some duds.

Here are some additional details about the program:

You earn 10% in Extra Cash on purchases made with your eligible Citi card, and it can take up to 6-8 weeks for this Extra Cash to appear in your account. It’s unclear what is considered an eligible card, even after reading the terms and conditions. It appears that you may need an invitation or special marketing message from Citi to participate.

You can also put Citi Extra Cash toward the purchase of merchandise. It’s harder to tell if you’re getting a good deal here since different stores often sell the same items at different prices. It’s also difficult to assess the quality of an unbranded item online. The items that are name brands don’t have model numbers, so you can’t search the internet for product ratings.

If you make a purchase you later regret using Citi Extra Cash, you can cancel it the same day with a phone call, or return it within 30 days of the redemption date by first calling a phone number to get a return authorization number. There is a 15% restocking fee for unwanted items. Bedding, pet items, food and partially used gift cards are not returnable.

The program has a low-price guarantee, but there are a lot of restrictions, such as this one: “Price Guarantee applies only to a price published on a US based website within 24 hours of purchase and does not apply to the net cost of a purchase when a coupon, promo code or rebate is applied in the shopping cart or after the purchase.”

You can also use Extra Cash for travel. I did a test for a 1-week car rental at Chicago Midway, Avis and Budget were the only options. I chose Avis for an economy car over the Christmas holiday. Citi Extra Cash said I could get the car for $352.99, minus $75.62 in extra cash, for a pre-tax total of $277.37 and an after-tax total of $377.59, payable at pickup. The Avis website gave me a grand total of $468.34 for the same car, so the Extra Cash appears to pay off. However, Priceline tells me I could get an economy car for as little as $253, so maybe it’s not such a deal after all unless you’re loyal to a particular rental company.

3 Easy Ways To Improve Your Credit Score

2012-01-09T06:00:00.000-08:00

Photo: 401K

If you're strapped for cash and having trouble making ends meet, improving your credit score may be the last thing on your mind. However, it's a worthy goal because it can help you get lower interest rates and improve your financial situation down the road. Even if your current financial picture isn't exactly rosy, you can still make significant strides forward with these easy ways to improve your credit rating. Learn how in my Financial Edge article for Investopedia, 3 Easy Ways To Improve Your Credit Score.

Tax quirk could make your home more attractive to buyers

2012-01-06T06:00:00.000-08:00

Photo: roarofthefour

If you're selling a home, here's how to make it more attractive to potential buyers: Throw in some cash and an income tax deduction.

The Internal Revenue Service allows the seller to pay points -- that's a fee some homeowners pay to lower their mortgage rates -- on the buyer’s behalf. Then the buyer gets to deduct the points as mortgage interest.

Learn more about how this process works in my Interest.com article, Tax quirk could make your home more attractive to buyers.

USDA offers no-down-payment loans in rural areas

2012-01-05T06:00:00.000-08:00

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Low-income homeowners who think they're stuck renting might be able to achieve home ownership through the U.S. Department of Agriculture's Rural Housing Direct Loan program.This 100% financing program is federally funded, and loan proceeds can be used for the following:

* Purchase a new home.
* Purchase an existing home that is move-in ready.
* Purchase an existing home and repair or renovate it.
* Purchase a manufactured home.
* Prepare an undeveloped site and build a home on it.

Learn more about this program in my Interest.com article, USDA offers no-down-payment loans in rural areas.

CreditKarma.com Now Offers Consumers Free Credit Monitoring

2012-01-04T06:00:00.001-08:00

Photo: epSos.de

I received an interesting email yesterday about a new credit monitoring product. The reason the email interested me is because unlike the expensive credit monitoring products offered by the credit bureaus and other financial institutions, this product is free.

I've written about The Pros and Cons of Credit Monitoring Services for Investopedia's Financial Edge. I found that most credit monitoring services cost $10 to $15 a month.Over the course of a year, that's $120 to $180.

CreditKarma.com is now the first company to offer free credit monitoring to all U.S. consumers. This product monitors a consumer’s credit file on a daily basis and alerts him or her when a significant change occurs.

“Consumers can stay on top of their credit and protect themselves from identity theft and credit reporting errors without being charged a monthly fee,” said Ken Lin, CEO of CreditKarma.com. “Our goal at CreditKarma.com is to provide easy access to a person’s own credit information and empower them with the timeliest information on their financial health.”

Here’s how it works:

1.A consumer enrolls at CreditKarma.com. Registration is free and takes less than two minutes.

2.CreditKarma.com monitors the consumer’s credit report for free on a daily basis.

3.A significant change occurs in their credit file, such as a new credit inquiry, a delinquent payment or improved payment history.

4.CreditKarma.com notes the new activity and emails the user a credit alert, letting them know about the important change.

CreditKarma.com already provides more than 4 million consumers with free credit scores and access to free credit monitoring to help them realize the everyday cost savings of having good credit by offering personalized savings recommendations for credit cards, student, auto, mortgage and home equity loans. It also provides financial education and access to free tools that empower consumers to take charge of their financial health including the Credit Report Card, Credit Score Simulator and Credit Card Statistics. To learn more, visit www.creditkarma.com.

Keep in mind that any credit monitoring service, whether paid or free, will have shortcomings. Such a service can't prevent identity theft from happening to you, for example; it can only notify you that it's already occurred. Even then, credit monitoring is likely to miss some forms of identity theft, such as the following:

someone using your information to apply for a job
someone using your information to get a cell phone
someone using your Social Security number, but not your name, to open new accounts

That being said, the sooner you catch an identity theft problem, the better. Also, if you're planning to apply for a loan such as a mortgage or auto loan, it's not a bad idea to stay on top of your credit reports to make sure there are no negative items that will bring you a higher interest rate than you can afford or that will prevent you from qualifying at all.

Learn more about CreditKarma's free credit monitoring at CreditKarma.com and learn more about credit monitoring in my article, The Pros and Cons of Credit Monitoring Services.

How Much Do You Need To Spend To Earn Credit Card Points?

2012-01-03T06:00:00.000-08:00

Photo: lisamurray

To get the best benefits from credit card reward programs, you have to understand how they work. Read about three popular credit cards, how their reward programs work and how much you have to spend on each card to cash in on a reward in my Financial Edge article for Investopedia, How Much Do You Need To Spend To Earn Credit Card Points?

Store Credit Cards: Do The Incentives Pay Off?

2012-01-02T06:00:00.000-08:00

Photo: JacobEnos

Have you ever wondered whether you should have said "yes" when the cashier asked you if you wanted to open a store credit card account and save 10% off your purchase?

While store credit cards fundamentally work just like regular credit cards, they have unique advantages and disadvantages.

In my Financial Edge article for Investopedia, Store Credit Cards: Do The Incentives Pay Off?, I examine the incentives stores offer with their credit cards, what pitfalls you might encounter if you sign up and whether the payoff could be worth opening an account.

How To Use Price Adjustments To Get The Best Deals

2011-12-30T06:00:00.000-08:00

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Some stores will refund the difference if an item's price drops after you buy it. I've reviewed the price adjustment rules of some popular stores and tell you how to take advantage of these policies at Amazon, Best Buy, Target, Walmart, Kohl's, and the Gap family of stores in my Financial Edge article for Investopedia, How To Use Price Adjustments To Get The Best Deals.

How To Prevent Identity Theft While Traveling

2011-12-29T13:30:00.000-08:00

Photo: Tjook

Identity theft doesn't just happen when you're at home. In fact, you may be even more vulnerable to it while traveling because you're carrying your valuable personal information around with you in unfamiliar and distracting environments. In my Financial Edge article for Investopedia, How To Prevent Identity Theft While Traveling, I provide some tips for keeping your identity safe while you're on the road.

What To Expect From The Zynga IPO

2011-12-15T12:55:00.002-08:00

Photo: JelleS

Social media stocks have been all the buzz in 2011.

As the year draws to a close, Zynga, maker of popular Facebook games like FarmVille, CityVille, Mafia Wars and Words with Friends, is one of the most talked about of the 11 remaining IPOs scheduled for the year.

Take a look at what investors will be buying into and how they might fare in my Financial Edge article for Investopedia, What To Expect From The Zynga IPO.

Low mortgage rates are the best gifts for home buyers

2011-12-15T06:00:00.000-08:00

Photo: IABoomer

Missed out on those holiday shopping deals? Don't fret. The best deal awaiting you this year could be a new mortgage.

With interest rates remaining near record lows, you should seriously consider adding a mortgage to your holiday shopping list, whether you’re looking to buy a new home or want to refinance.

The savings you lock in will be a gift that keeps on giving.

Just a couple of years ago, today’s rates would have looked like door-buster deals.

We’ve found advertised rates on 30-year, fixed-rate mortgages as low as 3.75%, with no points and application fees of less than $2,000.

While this is a great time to take out a new home loan or refinance an existing mortgage, tougher loan standards mean about half of all homeowners couldn't get a mortgage if they applied today.

Before you apply for a mortgage, learn about the most common reasons for rejection and how to increase your approval chances in my Interest.com article, Low mortgage rates are the best gifts for home buyers.

Just in time for the holidays: Credit card bonuses

2011-12-14T06:00:00.000-08:00

Photo: Keith Williamson

How would you like $500 in gift cards?

That's just one of the perks available right now from credit card issuers who are competing heavily to offer the best incentives and gain new customers.

Today's sign-up incentives might be bigger, but they also require more of the cardholder.

We've seen a lot of offers this year that require a pretty significant spending threshold in order to receive the bonus.

That being said, if you can meet the spending requirements with your normal spending patterns, these signup bonuses can really pay off. Learn more about them in my Interest.com article, Just in time for the holidays: Credit card bonuses.

End-Of-The-Year Income Tax Checklist

2011-12-13T23:13:00.000-08:00

Photo: stevendepolo

Every year around this time, we hear about the same old things we should do by December 31 to save money on our taxes the following April.

My article provides some lesser-known tips and strategies for last-minute tax savings. I also share some arguments against taking commonly recommended measures like paying property taxes and the January mortgage bill in December.

Read more in my Financial Edge article for Investopedia, End-Of-The-Year Income Tax Checklist.

Who Should You Tip During The Holidays?

2011-12-12T19:52:00.001-08:00

Photo: scottfeldstein

Holiday tipping isn't about going down a list and rewarding everyone on it with an amount dictated by an etiquette expert. Holiday spending in any form is supposed to be about showing your heartfelt appreciation for the people you care about and the people who make your life better in some way.

If you do want to show your appreciation with special tips this holiday season, you'll find a guide to the people in your life you might consider tipping and how much you should give them in my Financial Edge article for Investopedia, Who Should You Tip During The Holidays?

More homeowners shorten terms when refinancing

2011-12-02T06:00:00.000-08:00

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More than a third of homeowners who have refinanced their homes recently have shortened their loan terms, according to data released by mortgage giant Freddie Mac. That's the largest percentage of mortgage refinances converted from 30-year, fixed rate loans to 15- or 20-year loans since 2003.

And even if they don't opt for a shorter-term loan, some 95% of homeowners who refinanced in the second quarter chose a fixed-rate loan over an adjustable-rate mortgage, Freddie Mac's data show. Why are so many people choosing these options? Read more in my Interest.com post, More homeowners shorten terms when refinancing.

3 ways to determine the best home purchase price

2011-12-01T06:00:00.000-08:00

Photo: Svadilfari

You've settled on a home you'd like to buy. But how much should you offer to pay for it? No strategy for establishing an offering price will be perfect, I offer some guidelines in my Interest.com post, 3 ways to determine the best home purchase price.

Sewer lines can be a hidden problem for home buyers

2011-11-30T06:00:00.000-08:00

Photo: eutrophicationandhypoxia

While the sewer in the street is usually the municipality's responsibility, the pipe running from the home to the street is usually the homeowner's responsibility. Many home buyers and owners don't realize this until that pipe breaks, sending sewage into the house and creating a memorable emergency. Find out why homebuyers should consider having a sewer inspection before completing a home purchase in my Interest.com blog post, Sewer Lines Can Be a Hidden Problem for Home Buyers.

4 Ways to Get the Most from Your Credit Card This Cyber Monday

2011-11-27T23:34:00.001-08:00

Photo: Arbron

When you're shopping online this Cyber Monday, don't just look for the best prices. Look for the best cash-back opportunities as well.

Credit card companies, airlines and other businesses provide numerous ways to get a little something extra from your online credit card purchases.

Learn four ways to get the most out of your spending in my Financial Edge article for Investopedia, 4 Ways to Get the Most from Your Credit Card This Cyber Monday.

Top Ways to Profit from Storage Auctions

2011-11-10T06:00:00.000-08:00

Photo: Tim Patterson

People rent space in self-storage facilities for a number of reasons. They may have too much stuff, be in between moves, have lost their homes, have been deployed for military duty, or be college students who have moved out of their dorms and are living with their parents for the summer.

Sometimes people stop paying their rent on these spaces and the facilities auction off the contents. Storage facilities don’t make money on units they can’t rent out, and they have ongoing overhead costs like personnel, property taxes, insurance and utilities. These self-storage facilities contain hundreds of units, so at any given time there’s a good chance that some renters are in default and the contents of their lockers headed to auction.

Laws vary by state, but usually a certain amount of time must have passed without payment (such as 30 to 90 days) and/or the renter must be delinquent by a certain dollar amount. The owner must be notified, and the auction is considered a last resort.

For the average person, these auctions represent a money-making opportunity. It's not as simple or as glamorous as it looks on TV, but the average person can learn how to implement the same skill sets as the characters on Storage Wars to earn their own profits from treasure hunting. Here are some tips for earning a profit.

-Know your competition. Some of the best in the business have a lifetime of experience. American Pickers’ Wolfe began picking when he was just four years old. Don't try to compete with or outdo the professionals. Just try to do the best you can with your own budget and skill set. Expect to make some mistakes and realize that it will take time to hone your skills.

-Leave your ego at home. Don't get caught in a bidding war because you don't want to let the other person win. You're not going to win every unit you bid on. Stick to your budget. Set spending limits ahead of time both for the day and for individual units.

-Put a price on your time. Cashing in on other people’s loot takes a lot of time. You have to find the auction, attend the auction, load up and haul away all the stuff, unload it and sort through it. Then you might have to drive some of it to different parts of town to get it appraised, sold and disposed of. You also have to clean items before selling them, research values, price and sell items, and do all the tedious bookkeeping and administrative work associated with buying and selling the stuff.

If you don't put a price on your time, you can spend much more time than you should on these activities--time that could be more profitably spent on another activity. It's normal to not be very efficient when you're just starting out, but at some point you'll have to decide whether the time you spend on storage auctions is worth the profit you're earning. Without a lucrative television contract, you’ll be entirely reliant on your buying and selling skills to turn a profit from what appears to be junk.

-Buy to learn. If you have a hunch about what might be hidden in a locker based on what you can see, you're not going to learn if you're right or wrong unless you buy that unit. The more times you make these guesses, the better you'll get. For a lower-risk strategy, let someone else win the locker, then try to find out from them what was in it and how much profit they made.

-Don't feed your collecting habit. You won’t earn a profit if you hang on to your finds. Also, just because you think something is cool doesn't mean it's going to be worth a lot.

-Don't throw money away. Donate less valuable items rather than throwing them out; get a receipt and deduct the donation on your tax return. For valuable items, get them authenticated to get top dollar. For example, a comic book with a high grade from a certified comic book grader typically fetches an exponentially higher price on the aftermarket than the same book in similar condition without professional grading. The emergence of the Certified Guarantee Company (CGC) as the industry leader in professional grading has further enhanced the value of graded comics; CGC-graded comics often sell for amounts many times the value of an ungraded comic.

-Learn the art of bidding. If you watch Storage Wars' Dave Hester carefully, you’ll notice that he bids strategically. He’ll wait until the auction appears to be almost over—in other words, until all but one person have bowed out—and then he’ll start bidding. This may prevent him from bidding the prices up on himself by participating earlier in the auction. He also waits until the last possible second to bid—slowing down the auction can help keep the final price down.

For more tips, read my Financial Edge article for Investopedia, Top Ways to Profit from Storage Auctions.
Also read my previous blog posts, How to Find Public Self-Storage Auctions and What to Bring to a Self-Storage Auction and Why.

What to Expect from a Home Inspection

2011-11-09T06:00:00.000-08:00

Photo: mufan96

The results of a home inspection determine whether buyers proceed with the purchase of a home they have under contract. You definitely should not proceed with a purchase before you've had a home inspection. But what does it cover?

The American Society of Home Inspectors trade organization expects its members to examine the following components of a home during an inspection.

Structure: foundation, wall structure, floor structure, ceiling structure and roof structure

Exterior: roof, skylights, chimneys, gutters, siding, flashing, trim, doors, decks, balconies, steps, porches, grading, drainage, walkways, patios and driveways

Interior: walls, ceilings, floors, steps, countertops, cabinets, doors, windows, garage doors, insulation

Plumbing: fixtures, faucets, drains and water heaters

Electrical: conductors, cables, raceways, fixtures, switches, ground fault circuit interrupters, electrical panels

Heating, Ventilation and Air Conditioning: heating equipment, vent systems, flues, chimneys, ventilation, fireplaces

For more details, see the ASHI's Standards of Practice at the ASHI website.

This list might sound exhaustive until you learn what home inspectors won’t examine--but that will be the subject of another article.

To learn more about home inspections, read my Interest.com article, What to Expect from a Home Inspection.

Should You Take Out A HELOC?

2011-11-08T06:00:00.000-08:00

Photo: The-Lane-Team

If you have more than 20% equity in your home, you may qualify for a home equity line of credit, or HELOC. A HELOC is a convenient and often inexpensive way to borrow money. You don’t have to get a HELOC from the company that services your mortgage, either—you can shop around with a number of lenders. Let’s look at how a HELOC works and whether its unique features might make it a good or bad option for you.

-Borrowing term: A credit card lets you borrow in perpetuity, but with a HELOC, you can only borrow funds during the draw period, which is usually the first 5 to 10 years of the loan. The rest of the loan term is a repayment-only period that usually lasts 15 to 20 years, for a total HELOC term of 25 to 30 years. You do have to make payments during the draw period, but you can’t borrow more money during the repayment period. The long duration of HELOCs can mean that you’ll pay more interest in the long run without even realizing it. The high interest rate on a credit card might compel you to pay back what you borrow faster.

To learn about the other key features of HELOCs and how they can help or hurt you, read my Financial Edge article for Investopedia, Is Taking Out a HELOC Right for You?

Get Out of Your New Cell Phone Contract for Free with No Early Termination Fee

2011-11-07T06:00:00.000-08:00

Photo: FredoAlvarez

If you’re fewer than 30 days into your cell phone contract, you may be able to exit without paying an early termination fee. Consult your service agreement to find out what your options are. Here are links to the details of the major providers' policies:

ATT Returns Policy and Early Termination Fee

Verizon Return Policy

Sprint Free Guarantee and Sprint 30-Day Return and Exchange Policy

T-Mobile Terms and Conditions (see No. 4, Cancellations and Returns)

For more tips on getting out of a cell phone contract, check out these previous posts:

How Much Does It Cost to Get Out of Your Cell Phone Contract? Examining Four Carriers' Early Termination Fees
Avoid Early Termination Fees Forever With Prepaid Cell Phone Service
Get Out of Your Cell Phone Contract Early with Materially Adverse Changes
Tips for Getting Out of a Cell Phone Contract

Advantages of Renting out Your Extra Bedroom

2011-11-04T06:00:00.000-07:00

Photo: Lara604

Do you have a bedroom or other livable space in your home that you could do without in exchange for income? If so, you might want to rent out the space to a tenant. Why?

-First-time homeowners who don’t want to stretch themselves too thin can benefit from the extra income of renting out one or more bedrooms.

-People who aren’t home very often aren’t getting the full value of the home they’re paying for. This might include people who travel frequently on business or work long hours. These people might also be less bothered by having a roommate if they’re largely home just to sleep. And a responsible tenant can help keep the home safe from criminals simply by occupying it.

-People who want to pay off the mortgage early to save thousands of dollars on interest will have a much easier time doing this if an additional person is helping to pay the mortgage.

-You need the extra cash because your budget is extremely tight and/or you've lost your job or had your hours cut.

Also, people who want to own a home but are daunted by the prospect of living alone and/or being responsible for a large mortgage payment might consider having renters both for company and to ease the financial burden.

For more advantages of renting out your spare bedroom, read my Interest.com article. To learn how to rent out your spare room, read my Financial Edge article.

Returning an Item Purchased with a Credit Card Account You've Closed

2011-11-03T06:00:00.000-07:00

Photo: Andres Rueda

What happens when you return something that you purchased with a credit card account that you closed?

I used to think that I had no choice but to get store credit, but I recently tried another strategy. I took my canceled Chase credit card to the store with me to return an item. I was curious to see if the refund would go through even though the account was closed--and it did. The account had been closed for two months.

While it was a little unnerving to walk out of a store without the item I returned and without any way of accessing the refund money, I knew I had my receipt as proof of the transaction and I could send a copy of it with a letter to the credit card company if necessary to get my money back.

After two to three months of waiting, I received a refund check in the mail from the credit card company. It took quite a long time to get my money back, and maybe I could have sped up the process by contacting Chase, but I didn't. Despite the long wait, I was happy to have been able to return the unwanted item and get a cash refund rather than keeping something I didn't want or getting a store credit that would probably have taken me forever to use.

Alternatives to a Traditional Mortgage

2011-11-02T06:00:00.000-07:00

Photo: Neosnaps

You've decided that the time is finally right for you to become a homeowner. You know you need to borrow money—a lot of money—to buy that house. So you put on your best "I'm responsible and know what I'm doing" outfit and head to the nearest bank.

A quick chat with their mortgage specialist reveals that there's no way a person with your down payment/job situation/credit score/income could get a mortgage. What's an aspiring homeowner to do?

There are several unconventional options available, and one of them might be right for your situation. Read my Investopedia article, 4 Alternatives to a Traditional Mortgage, to learn more about rent-to-own, borrowing from your whole life policy, taking advantage of self-directed IRAs, and arranging seller financing.

Internet, Gold And Other Bubbles: What’s The Cause? (Investopedia)

2011-11-01T06:00:00.000-07:00

Photo: Mykl Roventine

While most people agree that asset bubbles are a real phenomenon, they don’t always agree on whether a specified asset bubble exists at a given time. There is no definitive, universally accepted explanation of how bubbles form, either. Each school of economics has its own view.

To learn more about some of the most common economic perspectives on the causes of asset bubbles, read my Financial Edge article for Investopedia, What Causes Bubbles?

6 Tricks To Make Coupons Work For You

2011-10-31T06:00:00.000-07:00

Photo: Svadilfari

You probably think that coupons save you money, and if you use them correctly, you're right.

However, stores and manufacturers issue coupons to increase their total sales, which means that if you aren't careful, you can end up overspending when you shop with coupons. Coupons expose consumers to additional advertising, increase shopping activity, steer consumers toward more expensive products and provide temptation to buy discretionary items.

To make sure that you really are saving money when you shop with coupons, read my Financial Edge article for Investopedia, 6 Tricks to Make Coupons Work for You.

And for background on this topic, read 6 Sneaky Ways Coupons Make You Spend More.

FHA Requirements Complicate Fixer-Upper Purchases

2011-10-28T06:00:00.000-07:00

Many of the homes for sale are foreclosures that have fallen into disrepair or that have been vandalized by their former owners or random thieves. While there are buyers on the market who are willing to buy these homes and fix them up, sometimes their financing sources don't want to put their money behind these homes.

Read more about one instance of such financing difficulties in my Interest.com article, FHA Requirements Complicate Fixer-Upper Purchases.

4 Difficult Places For Foreigners To Buy Real Estate

2011-10-26T06:00:00.000-07:00

Photo: Bruno [BRA]

Have you ever dreamed of owning property in a foreign country? Plenty of people do it, but how difficult the process is has a lot to do with where you choose to buy.

Buying property is a complex process that involves numerous steps, and requires specialized knowledge, to ensure the correct, legal transfer of property, and the protection of both the buyer's and seller's legal and financial interests. When you take an already complex process, translate it into a foreign language and add unfamiliar customs and laws, buying property abroad can seem like a minefield.

To learn about four countries where the ownership rules, borrowing and payment restrictions, and local customs make it extra difficult for foreigners to buy real estate, read my Financial Edge article for Investopedia, 4 Difficult Places For Foreigners To Buy Real Estate.

Retirement Planning For Those Who Live Past 100

2011-10-25T06:00:00.000-07:00

Photo: tamburix

If you plan to retire in comfort and style, don't underestimate how long you might live.

Death rates in the United States have reached an all-time low, and life expectancies continue to rise. The life expectancy for a woman at birth is now 80.4 years; for a man, it's 75.4 years.

The American Society of Actuaries estimates that more than half of us will exceed average life expectancies. What's more, a 2009 article in the Lancet, a leading medical journal, projected that more than 50% of people born since 2000 in developed countries will live past 100.

To learn how to plan for your retirement given the possibility of living longer than you initially planned for, read my Financial Edge article for Investopedia, Retirement Planning For Those Who Live Past 100.

What to Expect from a Home Inspection

2011-10-24T06:00:00.000-07:00

Photo: soupboy

Home inspectors are specially trained to spot problems the average person is likely to miss. However, there are limitations on what inspectors can legally examine.

To find out what home buyers should expect an inspector to look at, read my Interest.com article, What to expect from a home inspection.

3 homeowners association headaches

2011-10-21T06:00:00.000-07:00

Photo: Nikonian Novice

Living in a homeowners association is about more than just paying monthly dues. If you’re thinking about buying property in an HOA, learn what you need to know about how the association will affect your finances, the use of your property, and your life in my Interest.com article, 3 Homeowners' Association Headaches.

Top 6 High-Paying Environmental Jobs

2011-10-20T06:00:00.000-07:00

There are two main types of green jobs: those that produce goods or services that improve the environment, and those that improve an existing business's environmentally unfriendly practices.

These jobs might focus on producing renewable energy, conserving resources, increasing energy efficiency, alleviating pollution or increasing awareness and compliance.

Green jobs exist in hundreds of industries, from farming to mining and telecommunications to transportation. What's more, it's possible to have a green job without sacrificing your financial goals.

If you want to work in this industry while bringing home an enviable paycheck, consider the options I present in my Financial Edge article for Investopedia, Top 6 High-Paying Environmental Jobs.

Discover’s cash-advance option could replace your debit card

2011-10-19T06:00:00.000-07:00

Photo: bfishadow

In the face of new debit card fees, Discover's Cash Over feature could help you save money. Instead of using your debit card to make a purchase and get cash back, you can use a Discover card. To learn more about how this option works, read my article for Interest.com, Discover's Cash Advance Option Could Replace Your Debit Card.

When to avoid making a homeowners insurance claim

2011-10-18T06:00:00.000-07:00

Photo: jezuez471

Homeowners insurance provides essential protection against expensive damage to your home, but that doesn't mean you should file a claim every time something goes wrong.

In some cases, you might be better off if you handle the problem yourself. Other experts advise filing every claim you can.

Given this conflicting advice, how do you know what to do when you experience a covered loss?

Find out in my Interest.com article, When to Avoid Making a Homeowners Insurance Claim.

Vision Care Insurance: Will You See A Benefit?

2011-10-17T06:00:00.000-07:00

Photo: NCBrian

We all know that health insurance is something you shouldn't live without - but what about vision care insurance? Your ability to see is surely almost as important as your health. Vision care insurance can be purchased as a group benefit through your employer or as an individual policy. But how does the cost compare to the coverage you'll receive? Find out in my Financial Edge article for Investopedia, Vision Care Insurance: Will You See A Benefit?

Store Credit Cards: Do The Incentives Pay Off?

2011-10-14T06:00:00.000-07:00

Photo: JoeInSouthernCA

Have you ever wondered whether you should have said "yes" when the cashier asked you if you wanted to open a store credit card account and save 10% off your purchase?

While store credit cards fundamentally work just like regular credit cards, they have unique advantages and disadvantages. I've written an article that examines the incentives stores offer with their credit cards, what pitfalls you might encounter if you sign up and whether the payoff could be worth opening an account.

Get the full story in my Investopedia article, Store Credit Cards: Do The Incentives Pay Off?

Do You Need a Home Warranty?

2011-10-13T06:00:00.000-07:00

Photo: Timmy

When you purchase a home, even a home that isn't new, there is a very good chance that you will be offered a home warranty. The seller may offer to purchase one on your behalf to provide peace of mind that any component of the home that fails can be fixed affordably. If not, you will likely receive numerous mail solicitations to purchase a home warranty once the sale closes. But do you really need a home warranty? Learn more in my Financial Edge article for Investopedia.

Who Profits When You Refinance?

2011-10-12T06:00:00.000-07:00

Photo: Bitman

When you refinance, you need to be an informed consumer. Refinancing is just as big of a deal as getting an initial mortgage, and the stakes are high if you get the wrong loan, get a subpar interest rate or pay excessive closing fees. To gain a better understanding of the process, read my Interest.com article, Who profits when you refinance?

Why Sellers Should Get a Home Inspection

2011-10-11T06:00:00.001-07:00

Photo: Chad Jones

Did you know that home inspections aren't just for buyers? It can make a lot of sense for sellers to get their homes professionally inspected before putting them on the market. To find out why, check out my Interest.com article, Why Sellers Should Get a Home Inspection.

What to Bring to a Self-Storage Auction and Why

2011-10-10T06:00:00.000-07:00

Photo: David365

If you want to bid on and win a unit at a self-storage auction like the stars of Storage Wars, you can’t just show up—you need to come prepared. Here’s what you’ll need.

-Cash. Bring as much cash as you’re willing to spend. Many facilities require that you pay for your winnings in cash immediately after the auction ends. Factor into your budget sales tax and possibly a clean-out deposit (the latter will be refunded as long as you take all of the contents with you).

-Photo ID. some auctions require all attendees to register and present identification before they are allowed to bid.

-A strong flashlight. You can’t enter the unit, so you’ll need to improve your ability to see all the way into it while standing outside.

-A smartphone. If you spot something you think might be valuable before the bidding begins, some quick
online research can help you determine whether to bid or pass.

-A large truck/van/SUV. You’ll usually have only 24 hours to remove the contents of the storage unit you win, so come prepared for moving. Even if you end up with a locker full of trash, you’ll have to haul it away to dispose of it—you can’t use the storage facility’s dumpsters. If you need more time, you may be able to negotiate with the storage facility or even lease the unit. Of course, a fee to lease the unit will cut into your profit margin.

-Padlocks. The owner’s lock must be cut off in order for the contents to be viewed and auctioned off. If you win, you’ll need a way to secure your new locker while you participate in the rest of the day’s auctions or at least until you can get your vehicle pulled up to the unit.

-Gloves. Gloves aren't required, but when you're pawing through someone else's stuff, you never know what you're going to find or how clean it's going to be. Gloves can help prevent the ick factor; they can also protect your hands when moving rough, sharp, or heavy objects.

For more on storage auctions, see my earlier post, How to Find Public Self-Storage Auctions.

Industries Prone To Bubbles And Why

2011-10-07T06:00:00.000-07:00

Photo: Rev Dan Catt

A bubble (sometimes called an asset bubble, financial bubble or investment bubble) exists when the market prices of assets in a particular class far exceed those assets' true value. These inflated values are unstable and eventually fall dramatically.

Dozens of bubbles have inflated and burst over the course of history. While some bubbles appear to be one-time events, certain industries have seen bubbles form repeatedly, with investors seemingly never learning from past mistakes. Take a look at a few of these industries and what appears to make them bubble-prone in my Financial Edge article for Investopedia, Industries Prone to Bubbles and Why.

10 Ways to Prepare for a Personal Financial Crisis

2011-10-06T06:00:00.000-07:00

Photo: MrRoofRepair.ca

The thought of being hit with a major negative event that could affect your finances, like a job loss, illness or car accident, can keep anyone awake at night. But the prospect of something expensive and beyond your control becomes less threatening if you're properly prepared. Learn 10 steps you can take to minimize the impact of a personal financial crisis in my Investopedia article, 10 Ways to Prepare for a Personal Financial Crisis.

How To Find Public Self-Storage Auctions

2011-10-05T06:00:00.000-07:00

Photo: Tim Patterson

Have you watched every episode of Storage Wars and are dying to try making money on a locker yourself? Are you just curious about how it works in real life?

Here’s where to look to find storage auctions.

-Visit the self storage association website for your state to locate upcoming auctions. For example, the Texas SSA lists auctions at http://auction.txssa.org/.

-Locate auctioneer websites. Professional, independent auctioneers, not storage facility employees, run self-storage auctions. They earn money for doing this, so they have an incentive to advertise their upcoming auctions. For examples, check out http://hammerdownauctionsinc.com/auctions/south-florida-auctions.html and http://www.auctionzip.com/MD-Auctioneers/12474.html.

-Storage company websites sometimes advertise their auctions. Others don’t. Considering that the websites are largely designed to attract new customers, they may not want to advertise what will happen to a customer’s stuff if they don’t pay. One that does is CubeSmart, http://www.cubesmart.com/storage-auctions/. Only about 10% of self-storage companies are big-name public corporations like Public Storage and U-Haul, so do a zip code search to locate lesser-known facilities in your area.

-Call facilities and ask. If a facility doesn’t advertise its auctions online, call to inquire.

-Use a self-storage auction locator website like http://www.sparefoot.com/auctions.html or http://www.auctionzip.com/storage.html. Some websites will even show how many units are being auctioned off on a given date and provide a general idea of what each unit contains.

When you’re deciding which storage auctions to visit, you might want to focus on convenience and stick with facilities near your home. But if you are trying to think about it more strategically, don’t assume that the best parts of town have the best stuff—people from wealthier areas sometimes store their stuff in less expensive areas where the rent is cheaper.

How To Choose A Home Inspector

2011-10-04T06:00:00.002-07:00

Photo: DCMatt

When you're buying a house, you shouldn't skip the home inspection. This crucial step can help you to determine whether to move forward with a purchase or retract your offer. It can shed light on whether you're about to make a smart investment or fall into a money pit; whether you're about to pay a fair price or overpay. But how do you find a competent home inspector, especially if you're wary of going with your real estate agent's suggestion? To find out, read my Interest.com post, How To Choose A Home Inspector.

How Real Estate Investors Hurt Home Values

2011-10-03T06:00:00.001-07:00

Photo: rxb

Real estate investors make up a significant portion of the residential real estate market, but for ordinary homeowners, this isn't necessarily good news. To find out why, read my Interest.com article, How Real Estate Investors Hurt Home Values.

Tapping Home Equity Is Cheap, but Qualifying for a Loan Is Tough

2011-09-23T06:00:00.000-07:00

Photo: Chalet Les Cîmes

A home equity line of credit can be a great way to borrow money inexpensively if you thoroughly understand how it works and have the self-discipline to borrow responsibly. People use these loans for home improvements, debt consolidation, buying a car, sending a kid to college and more. Learn more about this type of loan in my Interest.com article, Tapping Home Equity Is Cheap, but Qualifying for a Loan Is Tough.

How Much Does It Cost to Get Out of Your Cell Phone Contract? Examining Four Carriers' Early Termination Fees

2011-09-22T06:00:00.000-07:00

If you're shopping for a new cell phone contract, you should know before you sign up what will happen if you want to cancel your contract early. Here's an overview of what the major carriers are charging these days (it's nice to see that they've started pro-rating the fees).

ATT: For advanced devices, such as iPhones and Blackberries, “$325 minus $10 for each full month of your Service Commitment that you complete.” For standard devices, “$150 minus $4 for each full month of your Service Commitment that you complete.” Visit ATT’s Early Termination Fees webpage to see which category your phone falls into

Verizon: “If you cancel a line of Service, or if we cancel it for good cause, during its contract term, you'll have to pay an early termination fee. If your contract term results from your purchase of an Advanced Device after November 14, 2009, your early termination fee will be $350 minus $10 for each full month of your contract term that you complete. (For a complete list of Advanced Devices, check verizonwireless.com/advanceddevices.) Otherwise, your early termination fee will be $175 minus $5 for each full month of your contract term that you complete. Cancellations will become effective on the last day of that month's billing cycle, and you are responsible for all charges incurred until then. Also, if you bought your wireless device from an authorized agent or third–party vendor, you should check whether they charge a separate termination fee.

Sprint: “Subscriber Agreements are subject to Sprint's prorated policy ($200 through month 5 of term, decreasing $10 a month until $50 minimum applies to remaining terms).”

T-Mobile: “The early termination fee is: $200 if termination occurs with more than 180 days remaining on your term; $100 if termination occurs with 91 to 180 days remaining on your term; $50 if termination occurs with 31 to 91 days remaining on your term; and the lesser of $50 or your monthly recurring charges (including any applicable taxes and fees) if termination occurs in the last 30 days of your term."

These fees do sound really high, but Consider the Company’s Perspective on Cell Phone Contract Cancellation. In some cases, you can try Getting Out of Your Cell Phone Contract Early with Materially Adverse Changes.

Also, if you're concerned that you might want or need to exit a contract early, you might consider Avoiding Early Termination Fees Forever With Prepaid Cell Phone Service.

Personally, I've been using prepaid service for years and I'm extremely happy with it. I've also saved a ton of money. Skype and Google Voice provide far superior service, call quality, and pricing for most of my phone needs.

Nissan offers 60-month, 0% financing on four 2011 models

2011-09-21T06:00:00.001-07:00

Photo: navets

If you're shopping for a new car, Nissan has some of the best deals out there. They expire October 3, so check them out now if you're interested. Find out the details in my Interest.com article, Nissan offers 60-month, 0% financing on four 2011 models.

Let Fannie Mae Help with Closing Costs

2011-09-20T06:00:00.001-07:00

Photo: iluvcocacola

If you buy a Fannie Mae-owned foreclosure property that is part of the HomePath program and close by October 31, Fannie will pay your closing costs of up to 3.5% of the purchase price. This deal could save you thousands of dollars, but you'll need to get under contract almost immediately to meet the closing deadline. To learn more about the program, read my Interest.com article, Let Fannie Mae help with closing costs.

It's Not Always Clear What Home Warranties Cover

2011-09-19T06:00:00.000-07:00

Photo: trekkyandy

Home warranties are supposed to give homeowners peace of mind and prevent financial strain when things break unexpectedly. In exchange for a few hundred dollars a year and a small service call fee, home warranties are supposed to make as-needed repairs and replacements to numerous components of a home, from dishwashers to furnaces.

Unfortunately, the reality isn't that simple. Learn about the complexities of home warranties and whether you should spend your money on one in my Interest.com article, It's Not Always Clear What Home Warranties Cover.

For another great article on this subject, head to Angie's List to read Why Home Warranties Are No Guarantee by Staci Giordullo.

How to Build a Stockpile to Save Money

2011-09-16T06:00:00.000-07:00

A stockpile is a collection of nonperishable goods beyond what you need for day-to-day use. People rely on stockpiles to sustain themselves during tough economic times and natural disasters. They also incorporate them into their daily usage to lower their monthly expenses and eliminate last-minute trips to the store. Learn how to create your own stockpile in my Financial Edge article for Investopedia, How to Build a Stockpile to Save Money.

Not sure what to include in your stockpile? Here are some ideas:

Food

Nonfat powdered milk

Bottled water

Cereal

Protein bars

Protein shakes

Dried fruit

Nuts

Canned soup

Pasta

Pasta sauce

Coffee

Breakfast bars

Canned fish

Beans

Rice

Peanut butter

Chips, crackers and pretzels

Baby food

Pet food

Household Items

Laundry detergent

Fabric softener

Paper towels

Cleaning products

Dish soap

Sponges

Trash bags

Aluminum foil

Sandwich bags

Batteries

Light bulbs

Toiletries

Shampoo

Soap or bodywash

Facial cleanser

Razors

Qtips

Toilet paper

Feminine products

Diapers

Contact solution

Toothpaste

Toothbrushes

Dental floss

Deodorant

Medicine

First aid supplies

Eating Healthy on a Budget

2011-09-15T06:00:00.001-07:00

Photo: terren in Virginia

People often cite the presumed high cost of healthy food as an impediment to maintaining a healthy weight. They also cite the cheapness and time-saving aspects of fast food as major contributing factors to the supposed epidemic of obesity in the United States. There are plenty of foods that challenge these notions, however, and you can learn what they are in my Financial Edge article, Eating Healthy on a Budget.

Home Prices Fall Again in Most Cities

2011-09-14T06:00:00.000-07:00

When will home prices start leveling out or even rebounding? The latest data say most cities aren't there yet. Numerous cities are still experiencing double-digit price drops, while only four have recently seen double-digit gains. What's more, distress sales still make up a third of sales. For the full story, see my Interest.com article, Home Prices Fall Again in Most Cities.

Top 5 College Education Clichés: Fact or Fiction?

2011-09-12T06:00:00.000-07:00

Photo: Patricia Drury

Another year of college has begun. If you've chosen not to attend, the panic may be starting to set in as you watch your friends begin the college experience and you wonder if you've made the right choice.

College is expensive, though, and not everyone attends, or attends right away. According to the Bureau of Labor Statistics, the record high percentage of students that went straight from high school to college was 70.1 percent in 2009. Assuming this year's numbers are similar, you're in good company with about a fourth of your fellow recent high school graduates if you're not in college right now.

It makes sense to question the idea that enrolling in college is a universally good idea. Attaining a college degree is not a guarantee of success. A series of practical individual choices made consistently throughout your life combined with ongoing hard work will be the most instrumental factors in how far you get in life.

A Georgetown study found that “37% of those with a high school diploma make more than the median earnings of workers with some college/no degree” and “40% of people with a Bachelor’s degree earn more than the median of workers with a Master’s degree.” These numbers indicate that a degree does not create a guaranteed advantage. In fact, a significant percentage of people are able to excel in their jobs without spending the time or money on a degree.

There are also a number of career paths whose ticket to entry is a certificate program that can be completed in much less time and at much less expense than a college degree. A Payscale.com article by Michelle Goodman reports that language interpreters, fitness instructors, mechanics, auto insurance appraisers and court reporters have average salaries that range from $37,113 for fitness instructors to $50,165 for auto insurance appraisers. A two-year associate’s degree is another a viable alternative to a bachelor’s degree.

Furthermore, many college majors provide little to no specific preparation for any sort of career other than one in academia. And Time’s “Top 10 College Dropouts” reminds us that super-successful people like Bill Gates, Steve Jobs, James Cameron, Mark Zuckerberg, Lady Gaga and Tiger Woods all dropped out of college.

So don’t believe everything that your parents, teachers, friends and guidance counselors tell you—the accepted wisdom about college isn’t always true.

For the whole story, see my Financial Edge article for Investopedia, College Education Cliches: Fact or Fiction?

6 Sneaky Ways Coupons Make You Spend More

2011-09-07T06:00:00.000-07:00

Auswandern Malaysia

Consumers are using more coupons than they did before the recession, and 37.4% are using them "to stretch a limited grocery budget out of necessity," according to NCH Marketing Inc.'s "2010 Annual Consumer Survey".

If you're hoping to save money by using coupons, watch out because stores and manufacturers expect coupons to increase their total sales, which means you could end up spending more, not less. To protect your wallet, learn about these strategies in my Financial Edge article for Investopedia, 6 Sneaky Ways Coupons Make You Spend More.

In addition to the points in my article, consider these:

-Coupons can send you on a wild goose chase. When you have a coupon that you want to use for an unfamiliar item or for an item that you usually buy at a different store, you'll have to spend more time in the store hunting for that item. Sometimes the store won't even carry the item, especially if it's new, but while you were looking for it, hundreds of other items probably caught your eye, and if you didn't put a few of them in your cart this week, you might next week. Avoid this problem by asking a store employee to point you in the right direction.

-Coupons entice you to buy premium products when you really only need the basic version. Have you been using two-ply toilet paper your entire life? Well, wait until you use that coupon for three-ply toilet paper and see how thick and plush it is. Now the two-ply that seemed fine for years seems inferior, and you want to keep buying the premium product, coupon or no coupon. Coupons are often used to upsell consumers into buying a more expensive version of something they were already using.

-Coupons can get you hooked on a new product at a low price that will soon increase. Try a new product at a low, introductory price--then keep coming back for more later when it's selling at full price. When a new product is released, you can often find a high-value coupon for it and combine it with a store promotion to get the item for an unusually low price. If you like it, you may get sucked into buying it in the future when it's selling at full price and there are no more coupons available.

-High value coupons can be irresistible. When you clip a coupon, you often don't know how much the item it advertises will cost--only how much coupon is worth. You might get excited about buying a product when you see a coupon for a whopping $3 off. When it turns out to be a $12 item, you could be looking at buying something that costs more than you would normally spend.

Even someone with a lot of self-discipline can succumb to these tactics because of the thrill of getting a deal. But if you're aware of what's going on, you might think twice before you clip another coupon for a product you don't already use regularly.

How to Get a Price Match

2011-09-06T06:00:00.000-07:00

Photo: jardenberg

Have you mastered the art of shopping sales and using coupons? Then it's time to take your skills one step further and learn how to price match. Price matching means getting a store to honor its competitor's price - usually a printed, advertised price.

Why do stores offer price matching? Won't it put retailers with already thin profit margins at risk of losing money?

Not necessarily. Price match policies can actually be good for business. Learn more in my Financial Edge article for Investopedia, How to Get a Price Match.

Should You Buy Mortgage Protection Insurance?

2011-09-05T06:00:00.000-07:00

Photo: crimfants

Property transactions are public records, and many companies take advantage of this to compile databases of recent homebuyers and market various products to them.

One such product is mortgage protection insurance. This product is supposed to protect the home from going into foreclosure if one of the people who contributes to the mortgage payments dies unexpectedly and the survivors don't have enough money to pay the bills.

It sounds like a good idea on the surface, but is it really? Find out more in my Interest.com article, Should You Buy Mortgage Protection Insuranace?

"Free" Credit Reports That Aren't Really Free

2011-09-02T06:00:00.002-07:00

Photo: Alex012

Many websites advertise that they allow you to check your credit report and/or credit score for free. But there's a catch: many of these "free" reports and scores actually cost money. Take a look at a few of these websites to see what they really charge in my Financial Edge article for Investopedia, Free Credit Reports and Credit Scores That Aren't Free.

If you want a truly free credit report, you do have a few options.

The FACT Act entitles consumers to one free credit report per 12 month period from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). The only website that really allows you to get your credit report for free with no strings attached is www.annualcreditreport.com. To get your credit score, you’ll still have to pay.

Under the Fair Credit Reporting Act, if you receive an adverse action notice based on data in your credit report, you are entitled to a free credit report from the credit bureau whose file the decision was based on. You must request the report within 60 days of receiving the notice. If you are denied credit, insurance, employment, an apartment, utility service, a government license or a government benefit, you are eligible to receive the report. People who are unemployed and plan to seek employment within 60 days, who are on welfare, or who believe their credit files are inaccurate due to fraud are also entitled to free reports.

If you request a free score for any of these reasons, you’ll have to fill out a form that states, for example, which company denied you credit or the name and contact information for your former employer.

Finally, residents of 13 states can get free or reduced-cost credit reports. These states are California, Colorado, Connecticut, Georgia, Maine, Maryland, Massachusetts, Minnesota, Montana, New Jersey, Puerto Rico, Vermont, and Virginia. Check out the discounts here.

Best Loyalty Programs for 2011

2011-09-01T06:00:00.001-07:00

Photo: jamieanne

Clear benefits. Achievable rewards. Consistency. Sustainability. A feeling of appreciation. These are the characteristics of a good customer loyalty program. If customers don't understand a program or have the terms changed on them, they'll be uninterested at best and feel betrayed at worst. Read my latest Financial Edge article for Investopedia to learn about the Best Loyalty Programs for 2011.

How To Rent Out Your Spare Room

2011-08-31T06:00:00.002-07:00

Photo: johncooke

Are you interested in paying off the mortgage faster, adding some breathing room to the monthly budget, having some company or even avoiding losing the house? If you're thinking of becoming a live-in landlord by renting out one or more rooms in your home while continuing to occupy the home as your primary residence, you should first learn about the numerous tasks involved and the essential legal procedures you'll need to follow. Read about them in my Financial Edge article for Investopedia, How to Rent Out Your Spare Room.

How To Attend a Wedding for Less

2011-08-30T06:00:00.000-07:00

Photo: Sugar Daze

There's plenty of advice out there about how to throw a wedding on a budget. But what about how to attend one?

When you're in your twenties and thirties, you may be invited to dozens of weddings. Attending each one has a cost, and those costs can seriously add up. At a time in life when most people don't have a lot of financial breathing room, it can actually become burdensome.No bride or groom wants it to be expensive or difficult for their guests to attend, though.

That being said, weddings are also expensive to host—the bride and groom or their families probably spent at least $100 for you to attend. So if you do attend, keep in mind that there's a difference between watching your wallet because you have to and being stingy. If you think you’ll save money and no one will know what you spent if you go off the registry, think again—when the couple tries to return that thing they don’t want, they’ll find out exactly how much it’s worth (or that you received it for your own wedding 10 years ago and are regifting it!).

For some tips on managing these costs when you're an invited guest, read my Financial Edge article for Investopedia, How to Attend a Wedding for Less.

Consider the Company’s Perspective on Cell Phone Contract Cancellation

2011-08-29T06:00:00.002-07:00

Photo: spcbrass

It may seem like cell phone service providers charge early termination fees just because they can, and there’s some truth to this. If millions of consumers, acting on their own free will, are signing long-term contracts that provide for early termination fees, they must find it acceptable on some level or they wouldn’t sign the contracts. There are plenty of alternatives these days, and those alternatives have been around for as long as anyone’s current contract has.

Don’t forget about that free or heavily discounted phone you receive when you sign up for a plan. The company provides this phone discount with the expectation that they will recoup its cost over the life of your contract. If you end the contract early, the company loses money on the phone. Verizon’s website, for example, clearly shows the discount consumers get by agreeing to a two-year contract. You’re welcome to sign up for month-to-month service, but you’ll have to pay the full price for the phone. For example, if you want Motorola’s Droid 3, you can get it for $199 as part of a two-year contract that has a $350 early termination fee, or you can buy it for $459 and sign up for a month-to-month agreement. (These price differences do raise the question of why the early termination fee is $91 more expensive than buying the phone outright.)

If cell phone companies are going to offer heavily discounted phones, they need a contract provision that protects them against people signing up for a plan, getting a discounted phone, then canceling the account. It's unfortunate that consumers who have legitimate reasons for wanting to exit a contract early have few alternatives to paying the early termination fee and rarely seem to get the benefit of the doubt from the cell phone companies. If a consumer's call quality or data service inexplicably declines, customers should have recourse, but that doesn't seem to be the case.

Avoid Early Termination Fees Forever With Prepaid Cell Phone Service

2011-08-26T06:00:00.002-07:00

Photo: janoma.cl

Once you’ve gotten out of your old cell phone contract, don’t get yourself stuck in another one. You have plenty of options for avoiding them. You can switch a portion of your phone calls to Skype. You can use a prepaid phone like ATT’s GoPhone. You can sign up for any number of month-to-month, no-contract plans. You can use Google Voice with a bare bones cell phone plan to save money. Check out the options below--you might find something that works for you. Personally, I have found that a combination of the GoPhone, Skype and Google Voice works well and keeps my phone bill to about $10 a month.

T-Mobile’s No Annual Contract Store

Walmart’s No-Contract Phones
Target's No-Contract Phones
Net10

Tracfone Prepaid Wireless

Virgin Mobile Prepaid and Pay-As-You-Go Service

Boost Mobile

ATT GoPhone Pre-Paid Cell Phone

MetroPCS Flat-Rate Cell Phone Plans

Cricket No-Contract Cell Phones
Google Voice

Get Out of Your Cell Phone Contract Early with Materially Adverse Changes

2011-08-25T06:00:00.001-07:00

Photo: JD the Photog

While it's difficult to get out of a cell phone contract early without paying an early termination fee, there are a couple of loopholes.

Take Sprint’s contract language, for example:

When You Don't Have To Pay An Early Termination Fee
You aren't responsible for paying an Early Termination Fee when terminating Services: (a) provided on a month-to-month basis; (b) consistent with our published trial period return policy; or (c) in response to a materially adverse change we make to the Agreement as described directly below.

Our Right To Change The Agreement; Your Related Rights
We may change any part of the Agreement at any time, including, but not limited to, rates, charges, how we calculate charges, or your terms of Service. We will provide you notice of material changes—and may provide you notice of non-material changes—in a manner consistent with this Agreement (see "Providing Notice To Each Other Under The Agreement" section). If a change we make to the Agreement is material and has a material adverse effect on Services under your Term Commitment, you may terminate each line of Service materially affected without incurring an Early Termination Fee only if you: (a) call us within 30 days after the effective date of the change; and (b) specifically advise us that you wish to cancel Services because of a material change to the Agreement that we have made. If you do not cancel Service within 30 days of the change, an Early Termination Fee will apply if you terminate Services before the end of any applicable Term Commitment.

Currently, Sprint customers have an opportunity to exit their contracts for this very reason. If your August statement describes an increased administrative charge that goes into effect on 9/9/11 and a change in terms and conditions, you can contact Sprint within 30 days of receiving this notice and use the materially adverse change clause to get out of your contract.

Tips for Getting Out of a Cell Phone Contract

2011-08-24T06:00:00.001-07:00

Photo: steelight

Many consumers think that they should not pay early termination fees when they want to cancel their cell phone services before the terms of the contracts have expired. Sometimes their reasons are valid, such as a loss of service. Other times they're not, such as wanting a new phone that is only offered by another carrier.

Regardless of the reason, consumers don't have many options for getting out of a contract early without paying a fee. The options they do have can be challenging, stressful and time consuming. Learn about some options you can try in my Financial Edge article for Investopedia, Tips for Getting Out of a Cell Phone Contract.

Great Financing Deals on Popular 2011 Cars

2011-08-23T06:00:00.001-07:00

Photo: Ingy The Wingy

Looking to buy a new car? Now is a good time. 2012 models are coming out, so dealers will want to unload their remaining 2011 inventory. Also, a number of great financing deals mean that borrowing money to buy a car isn't such a terrible idea. Here are some of the deals currently available from six top automakers.

1. Honda: Civic Sedan or Coupe, 0.9% APR for 24-36 months or 1.9% for 37-60 months through 9/6/11. Learn more about this Honda deal here. There are also deals starting at 1.9% or 2.9% for many other models.

2. Nissan: Altima, 0.0% APR for up to 60 months or 1.9% for up to 72 months or $1,500 cash back through 8/31/11. Learn more about this Nissan deal here. The Altima was the No. 6 best-selling car in July according to Edmunds.com.

3. Chevy: Malibu, 0.0% APR for 60 months through 9/6/11. Learn more about this Malibu deal here. The Malibu was the No. 8 best-selling car in July according to Edmunds.com. (I wonder if that's because of its popularity as a rental car?)

4. Mazda: Every 2011 model, 0.0% APR for up to 60 months and no payments for 90 days through 8/31/11. Learn more about this Mazda deal here.

5. Hyundai: Sonata, 0.9% APR for up to 36 months, 1.9% for up to 48 months, 2.9% for up to 60 months through 8/31/11. Learn more about this Sonata deal here. The Sonata was the No. 7 best-selling car in July according to Edmunds.com. It also received 25.4% of the vote in Edmunds’ midsize family sedan category for its 2011 Consumer Favorites poll. (Older Hyundais don't have the greatest track record for reliability in Consumer Reports; how the 2011 will fare remains to be seen.)

6. Toyota: Camry or Corolla, 0% APR for 36, 48 or 60 months through 8/31/11. Also includes a complimentary maintenance plan for 2 years or 25,000 miles. Learn more about this Camry deal here. The Camry was the No. 2 best-selling car in July according to Edmunds.com.

To get any of these deals, you'll probably need excellent credit. Also, you'll likely need some money up front for the down payment, first month's payment, title, license and registration fees. These costs will probably range from $2,000 to $3,500 You could put more down if you wanted, but with such low interest rates, you might prefer to keep the money in your emergency fund.

According to Interest.com's survey of major auto lenders, the average interest rate on a 60-month auto loan has been 5.57% this month, so these deals look pretty great.

Interest rate isn't the only factor you should consider when buying a car, but it might tip the scales when evaluating used versus new or one model versus another.

Fees That Could Hit Your Home Improvement Budget

2011-08-22T06:00:00.001-07:00

Photo: melloveschallah

Have you ever planned a home improvement project, set aside what you thought was enough money, then gotten a professional quote and found that your estimate was under by several hundred dollars or more? I have. Learn about the types of unexpected costs you might face in my Interest.com article, Fees That Could Hit Your Home Improvement Budget.

Escrow Balance Too High? How to Get a Refund

2011-08-19T06:00:00.001-07:00

Photo: AMagill

If you are required to make monthly payments to your mortgage company toward your property taxes and homeowners insurance, those payments go into an escrow account until the bills are due. Sometimes your account can end up with too much money in it and you'll want to get the excess back. To learn how to do this, read my article for Interest.com, Escrow Balance Too High? Ask for an Analysis.

Refinancing Made (Relatively) Easy with FHA Streamline

2011-08-18T06:00:00.000-07:00

Photo: zieak

If you have an FHA mortgage, you might have a refinancing option available to you that you weren't aware of. It's called the FHA Streamline refinance, and it allows you to refinance even if you're underwater on your mortgage. To learn more about how the program works, read my Interest.com article, Refinancing made (relatively) easy with FHA Streamline.

Do e-Textbooks Help Students Save Money?

2011-08-17T06:00:00.000-07:00

Photo: Danny Nicholson

Textbook costs have traditionally represented a major expense for college students. In recent years, savvy consumers have cut these costs by buying used textbooks and older editions of textbooks online. Students have also used the Internet to sell their textbooks at semester's end for more than the college bookstore's buyback price.

Now, a third option, electronic textbook rental, advertises both cost savings and convenience. To learn about the potential cost savings of choosing e-textbook rental over other common options, read my Financial Edge article for Investopedia, Do e-Textbooks Help Students Save Money?

3 High-Pressure Home Improvement Sales Tactics

2011-08-16T06:00:00.000-07:00

Photo bazylek100

Do you want to replace one window in your home? That will require an extra $200 fee because the job doesn’t meet our three-window minimum.

That's what I was told recently when I got a quote from a major home improvement vendor to replace one window in my home. Fortunately, if I wanted to replace my gutters for $1700, the $200 fee could be waived.

Vendors selling products related to the improvement of your home can be some of the hardest sales people to deal with. Why? Because it’s easy to convince yourself to spend more money on your home. You spend lots of time there and you want any upgrades you make to be done right and to last for years. What’s more, these sales professionals often require a visit to your house—and it’s much harder to get someone out of your house than it is to walk away from someone in a store. Learn how to deal with some of the high-pressure home improvement sales tactics you might face in my Financial Edge article for Investopedia, 3 High-Pressure Home Improvement Sales Tactics.

Why Card-Specific Discounts Don't Work

2011-08-15T06:00:00.000-07:00

Photo: nanetteturner

It's tempting to sign up for store credit cards that offer perks like a percentage off on every purchase or special sales throughout the year. But is it really in your best interest to open one of these cards? To get an idea, I consider the perks, interest rates and fees of four popular store credit cards in my Financial Edge article for Investopedia, Why Card-Specific Discounts Don't Work.

How To Spot a Refinance Offer That's Too Good to Be True

2011-08-12T06:00:00.000-07:00

Photo: Oran Viriyincy

Some lenders will do anything to get your attention when it comes to refinancing. How do you separate the legitimate offers from the scams? Learn How To Spot a Refinance Offer That's Too Good to Be True in my article for Interest.com.

7 Unusual Property Ownership Rules

2011-08-11T06:00:00.000-07:00

Photo: Clearly Ambiguous

Owning real estate is challenging for most people. Few of us have all the financial, legal and handyman training that would make us top-notch property owners. In some jurisdictions, all the usual difficulties are compounded by unusual rules, procedures and customs. Take a look at seven of these factors in my Financial Edge article for Investopedia, 7 Unusual Property Ownership Rules.

Real Estate Indicators For Prospective Homebuyers

2011-08-10T06:00:00.000-07:00

Photo: The Muuj

If you want to buy a home but you're holding out until market conditions show signs of improvement, housing indicators can help point the way. There are dozens of economic indicators, and many of them relate to the housing market in some way. Learn about four of the most important ones in my Financial Edge article for Investopedia, Real Estate Indicators For Prospective Homebuyers.

Cash-Out Refinancing at 15-Year Low

2011-08-09T06:00:00.002-07:00

Photo: ezoiman

Freddie Mac released its quarterly refinance data last Monday. The data reveal some interesting information:

-What interest rate did most people who refinanced get?
-How many people did cash-out refinances?
-How many people did cash-in refinances?
-Is it still a good time to refinance?

The answers may surprise you. Read my Interest.com article, Cash-Out Refinancing at 15-Year Low, to learn more.

Chase Payment Protection Product Class Action Lawsuit

2011-08-08T06:00:00.002-07:00

Photo: walknboston

I received a notice in the mail printed on a piece of cardstock smaller than a postcard informing me of a class action lawsuit against Chase. The notice is addressed to Chase credit card holders who were enrolled in a payment protection product between September 1, 2004, and November 11, 2010.

The lawsuit, Kardonick v. JPMorgan Chase & Co., is about whether Chase engaged in "breaches of contract, unfair and deceptive practices, and other wrongdoing" regarding its payment protection products. The lawsuit says that Chase unilaterally enrolled cardmembers in the program without explaining it to them, and that it was difficult to claim benefits or to unenroll.

Chase has not admitted wrongdoing but has created a $20 million settlement fund. There are three levels of potential payouts depending on a customer's level of interaction with the service: $60, $30 or $15 before fees and expenses.

The card provides instructions on how to opt-in and file a claim for money, opt-out and exclude oneself from the settlement, or object to the settlement. You must fill out a claim form by TODAY, August 8, to receive a payment. You can make one of these choices and learn more about the case at KardonickSettlement.com.

The key piece of data you will have to provide on the claim form is "Last four digits of ANY of your Chase credit card accounts that were enrolled in a Payment Protection Product at some time between September 1, 2004 and November 11, 2010."

Since I am not sure if, when, or with what card I might have been enrolled in such a program, I'm going to do nothing. But if you feel like you were wronged by Chase's payment protector product, feel free to opt in, and make sure you do it today.

Small Retirement Savings Really Do Add Up

2011-08-05T06:00:00.000-07:00

Photo: bgottsab

Do you need a million dollars to retire? Or is two million the new one million? It really depends on a number of factors--the number of years until you retire, how long you expect to live, what your fixed expenses will be, how much you expect to receive from Social Security and more. The truth is, it's not easy to estimate how much money you'll need to retire, though there are plenty of online calculators that will help you try.

Personally, when I was in my early twenties, I didn't see much point in saving for retirement because it seemed like even if I saved a few hundred dollars every month until I retired, I still wouldn't have the recommended million-dollar nest egg. Fortunately, I set some money aside every month despite my reservations, and along the way I discovered the power of compound interest, self-employed retirement accounts, 401(k) matches and other tools that have made it easier to save.

Don't let the notion that you'll never have enough money for retirement or that you don't have "enough" to contribute every month prevent you from saving. Even small savings add up, and when the day comes that you choose to or are forced to stop working, you'll be glad to have whatever you've saved, even if you do wish it was more. Everyone always wishes they had more!

For more on this topic, read my Financial Edge article for Investopedia, Why Small Retirement Savings Count. I hope it will inspire you to start saving, or to save just a tiny bit more than you already are.

Mysterious Phone Calls from American Express--Real or Scam?

2011-08-04T06:00:00.000-07:00

Photo: Willy D

At the end of June, I started receiving repeated phone calls from a caller that may or may not actually have been American Express. The phone number showing up on my caller ID matched American Express’s customer service phone number as shown on the American Express website (1-800-528-4800), but caller ID can be spoofed.

I never answered any of these calls. Most of the time, the caller did not leave a message. Sometimes, they would leave a nonsensical message that sounded like it was being read from a script. The message also made it sound like the caller didn't realize that they were talking to a voice mail service.

People occasionally make mistakes about whether they are talking to a person or voice mail, but three different callers made the same "mistake."

In addition to the strange and sporadic messages, I was suspicious of these calls because I was not an American Express card holder at the time. I had closed two accounts about a month earlier, so I didn't see what the company could legitimately want to talk to me about.

One message sounded something like this:

"My name is ____. I'm calling on behalf of American Express. May I please speak to Amy Fontinelle? (4-second pause) Amy Fontinelle please. On behalf of American Express I want to thank you for speaking to me. If you have any additional questions please contact us at the number on the back of the card. You have a nice evening."

There was no pause in the message after they said "Amy Fontinelle please." Also, I never spoke to them, so why did they thank me for speaking to them? It should be noted that all of the voice messages were from women who sounded unmistakably American--I don't think there was a language barrier problem.

Another message sounded something like this:

Hello this is ____ calling on behalf of American Express on a recorded line may I speak with Amy Fontinelle. (2-second pause) On behalf of American Express I want to thank you for speaking with me today. If you have any additional questions you may contact us at the number on the back of the card and have a good day.

I'm not sure what a recorded line is.

The calls eventually stopped, and I never found out what they wanted. I didn't contact American Express about these phone calls because, well, why would I subject myself to a customer service phone call if I could avoid it?

Have you received any phone calls like this?

4 Reasons Not To Refinance Your Home

2011-08-03T06:00:00.000-07:00

Photo: Modern Britain

Interest rates are still extremely low, but they aren't expected to stay there for long. Should you refinance before it's too late?

Not necessarily. Learn more in my Investopedia article,
4 Reasons Not To Refinance Your Home.

4 Unexpected Warehouse Club Bargains

2011-08-02T06:00:00.000-07:00

Photo: toolstop

Did you know that one of the cheapest ways to get a gym membership isn't by playing hard to get with the gym membership sales rep, but by purchasing a membership online through Costco? Neither did I. And gym memberships aren't the only unusual deal you can find at a warehouse club. My Investopedia article, 4 Unexpected Warehouse Club Bargains, describes several surprising discounts on items you might not think to shop for at a warehouse club. Sometimes the discounts are so good that you'll instantly recoup your membership fee and still come out ahead.

How Many Credit Cards Should You Have?

2011-08-01T06:00:00.000-07:00

Photo: paalia

-How does having multiple credit cards affect your credit score?
-What are the benefits of having more than one credit card?

If you've ever wondered about the answers to these questions, read my Financial Edge article for Investopedia,
How Many Credit Cards Should You Have?

Financial Careers: Credit Analysis

2011-07-29T06:00:00.000-07:00

Photo: 5mal5

A career in credit analysis focuses on assessing the creditworthiness of individual or institutional loan applicants through quantitative analysis of their financial data. Credit analysts work for a wide variety of companies, from commercial banks and credit-rating agencies to retail operations and investment banks.

Obtaining a professional certification provides an additional level of expertise to professionals working in credit analysis and can help them distinguish themselves, improve their job prospects and increase their pay.

To learn about five professional certifications available to individuals pursuing a career in credit analysis, read my Investopedia article, Getting Accredited For A Career In Credit Analysis.

The Most Expensive Places to Buy a Home

2011-07-28T06:00:00.000-07:00

Have you ever wondered which cities would cost the most to own a home in? I've examined the National Association of Realtors (NAR) report for the five most expensive metropolitan areas to buy a home as of the first quarter of 2011 and described some of the factors that drive real estate prices in those areas. To find out where they are, read The 5 Most Expensive Places to Buy a Home at Investopedia.

An Interesting Refinance Offer from Quicken Loans

2011-07-27T06:00:00.000-07:00

Photo: Images of Money

Quicken Loans has an interesting offer for people who are afraid to pull the trigger on refinancing because they don't want to miss out on getting the lowest possible interest rate. I haven't seen an offer like this from any other lender. If you're intrigued, read my Interest.com article, Quicken Loans Offers Mortgage Rate Promise.