A year ago I purchased a laptop on one of those zero percent financing deals. I consider myself as someone who knows how to make a dollar holler and waited a few days before the due date to pay the bill online.
Well imagine my dismay when they asked me to pay ten dollars for the privilege of paying the bill online. It almost sent me over the edge and then they added insult to injury when they added another thirteen dollars for refusing to pay the ten dollars.
I called customer service and ended up speaking to a woman named Joe in India who would not give me her last name but did take the charge off the bill. All I could think was that it is about time someone took a look at the abusive practices being used by credit card companies.
Say "Bye-Bye" to Your Grace Period No grace period means that you'll start accruing interest the moment you charge something and that can cost you a bundle of "extra" interest. Most credit card issuers have already reduced their grace period from 25 days to 20 days. Many others have eliminated the grace period altogether. Now they are coming up with more and more reasons to take away your grace period. Miss a payment? Stop carrying a balance? Bye-bye grace period!
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Punishing You for Being Smart These fees are the lowest of the low because they penalize you for being a responsible credit card user. Some of the biggest offenders include charging you a fee for: + Closing your account + Failing to use a card for a period of time (such as six months or a year) + Not carrying a balance + Every transaction each and every time that you use your card If your card charges you any of these fees, it's time to look for a new card!
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Lowering Your Minimum Payment Another way some cards try to jack up their profits and lure you deeper into debt is by lowering the minimum payment due on your balance. It used to be cards required a minimum monthly payment of about 4% of your balance, but many now require as little at 2%. Don't fall for it! Going from a $40 payment to a $25 payment on a $2,500 balance means it will take you an extra 19 months to pay off your balance!
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Inviting You to Skip a Payment Broke this month? In their infinite generosity (ha!), some cards will "invite" you to skip a payment. This "helpful" offer, which sounds great at first blush, often comes after the holidays when your balance is big and your wallet is stretched. DON'T DO IT! Skipping that payment can lead to a host of trouble from a higher interest rate to possibly having to make extra payments in the future. Are you starting to notice a pattern?! You should be skeptical whenever your credit card company does something "nice" for you without you asking for it!
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Tricky Timing We all know that our payment is due on a certain date or it's late, right? But a new twist being thrown into the mix is having your payment due by a certain time on the due date. If your payment is due at noon, and gets processed at 12:01, you get socked with a late fee AND likely a higher interest rate. Gimme a break! Carefully check your statement so you avoid this trap.
Reports of people stock piling food staples like rice have many remembering the stories that grandma used to share about food rationing during the depression.
Recently discount warehouse retailers Costco and Sam's Club put a limit on the amount of rice purchased by customers.
Price increases of this common food source found on tables around the globe have people panicking and purchasing rice in large quantities. Americans are feeling the pain at the supermarket checkout as the cost of staples like milk, butter and eggs continue to rise.
These perilous inflationary times can bust your budget if you aren't careful.
Have a plan. First, take a look in the pantry and refrigerator to determine what you need and make a list. You will avoid purchasing items you don't need or already have.
Take a look at what's in the sales circular and plan your meals accordingly.
Buy fruits and vegetables that are in season and buy at the local farmers market. You'll have fresh produce that hasn't been shipped and it will cost you less.
Avoid b.o.g.o or buy one get one free. Opt for sales that allow you to purchase several of the same item at a discount. You can buy one item and still get the discounted price.
Keep walking pass the gourmet counter that offers prepackaged or prepared foods. You can marinate and season your meat using common ingredients like lemon juice and teriyaki sauce with the same outcome.
Deborah Owens is author of "Nickel and Dime Your Way To Wealth" and host of "Real Money" on NPR Affiliate Weaa 88.9 FM. Visit deborahowens.com
President Bush wants you to spend the money. That stack of bills on your desk says deal with your debts.
And the kids, well you know their favorite words are "buy" and "me". So if you're one of the 130 million households receiving some of that economic stimulus money what are you going to do with it?
With gas prices approaching $4 a gallon some of you probably say that's a silly question. But hold on. ...
Alan Greenspan, former head of the Federal Reserve, says the country is "in the throes of recession." His remark comes as he defends his chairmanship of the U.S. central bank, rejecting suggestions that his policies contributed to the current rough times. (Photo by Lauren Victoria Burke/ABC NEWS via Getty Images)
Commuters climb the stairs from a train station as they head to jobs in New York's financial district on Thursday, April 3, 2008. The Labor Department reported Thursday that the national unemployment rate rose from 4.8 percent to 5.1 percent, the clearest signal yet that the economy might already be shrinking. (AP Photo/Mark Lennihan)
Job seekers use computers to search for jobs at the Marin Employment Connection April 4, 2008 in San Rafael, California. The Labor Department announced Friday that the national unemployment rate rose to 5.1 percent and nearly 80,000 jobs were cut in March as worries of a recession grow. (Photo by Justin Sullivan/Getty Images)
SAN RAFAEL, CA - APRIL 04: Copies of the California Job Journal are displayed for people to browse at the Marin Employment Connection April 4, 2008 in San Rafael, California. The Labor Department announced Friday that the national unemployment rate rose to 5.1 percent and nearly 80,000 jobs were cut in March as worries of a recession grow. (Photo by Justin Sullivan/Getty Images)
The recent Mega Million winners earlier this year epitomize the American dream -- wealth microwave style. Tonya and Robert Harris were the winners of $270 million from the mega million jackpot.
The question is will this windfall be a blessing or a curse? I believe it depends on whether or not the Harris's' learn the definition of wealth. ...
Comparison shop. Be a proactive consumer. Don't just pay the high prices at the closest station. Shop around to find the most competitive price in town. For a little help, visit http://gasprices.mapquest.com to compare prices in your area. You can find the best deal by zip code and street name, as well as check out prices by grade of gasoline.
Buy a Fuel-Efficient Vehicle
Consider buying a fuel-efficient vehicle, a hybrid vehicle, or an alternative-fuel vehicle. It could save you a lot at the gas pump and not to mention help the environment. FuelEconomy.gov offers tips on buying a new fuel-efficient car or truck.
Slow It Down
Gas mileage decreases rapidly at speeds above 60 mph, costing an additional 10 cents per gallon. Aggressive driving can lower gas mileage by as much as 33 on the highway and 5 on city streets, resulting in 7 cents to 49 cents per gallon. Don't get too emotional driving, its supposed to be a time to relax and reflect. Next time you get in your car stay calm, cool, and collected put your car on cruise control.
Stop Idling
Idling gets you zero miles per gallon. The best way to warm up a vehicle is to drive it. No more than 30 seconds of idling on winter days is needed. Anything more simply wastes fuel and increases emissions. Be conscious of your environment and your pocket.
Tune Ups
Most motorists don't realize it's the little things that can make a difference. Fixing a serious maintenance problem, such as a faulty oxygen sensor, can improve your mileage by as much as 40. Dirty spark plugs can cause misfiring which can waste fuel. Replacing a clogged air filter can save gas mileage by as much as 10, saving you 15 cents per gallon. Tune your engine; it'll increase gas mileage by 4. Also, damaged, loose, or missing gas caps, under-inflated tires, poor wheel alignment, and worn spark plugs all contribute to poor fuel economy.
Combine Errands
Instead of making several trips to the cleaners, grocers, post office and the bank, do all of your errands at one time. Before you hop into you car, plan ahead. Keep a checklist if necessary. This will save you time and money.
Park Your Car
Take public transportation. Walk it'll save you money and help you shed a few undesirable pounds. Carpool. You and some of your colleagues can take turns driving each other to work. Talk to your supervisor about telecommuting one day a week.
Comparison shop. Be a proactive consumer. Don't just pay the high prices at the closest station. Shop around to find the most competitive price in town. For a little help, visit http://gasprices.mapquest.com to compare prices in your area. You can find the best deal by zip code and street name, as well as check out prices by grade of gasoline.
Buy a Fuel-Efficient Vehicle
Consider buying a fuel-efficient vehicle, a hybrid vehicle, or an alternative-fuel vehicle. It could save you a lot at the gas pump and not to mention help the environment. FuelEconomy.gov offers tips on buying a new fuel-efficient car or truck.
Slow It Down
Gas mileage decreases rapidly at speeds above 60 mph, costing an additional 10 cents per gallon. Aggressive driving can lower gas mileage by as much as 33 on the highway and 5 on city streets, resulting in 7 cents to 49 cents per gallon. Don't get too emotional driving, its supposed to be a time to relax and reflect. Next time you get in your car stay calm, cool, and collected put your car on cruise control.
Stop Idling
Idling gets you zero miles per gallon. The best way to warm up a vehicle is to drive it. No more than 30 seconds of idling on winter days is needed. Anything more simply wastes fuel and increases emissions. Be conscious of your environment and your pocket.
Tune Ups
Most motorists don't realize it's the little things that can make a difference. Fixing a serious maintenance problem, such as a faulty oxygen sensor, can improve your mileage by as much as 40. Dirty spark plugs can cause misfiring which can waste fuel. Replacing a clogged air filter can save gas mileage by as much as 10, saving you 15 cents per gallon. Tune your engine; it'll increase gas mileage by 4. Also, damaged, loose, or missing gas caps, under-inflated tires, poor wheel alignment, and worn spark plugs all contribute to poor fuel economy.
Combine Errands
Instead of making several trips to the cleaners, grocers, post office and the bank, do all of your errands at one time. Before you hop into you car, plan ahead. Keep a checklist if necessary. This will save you time and money.
Park Your Car
Take public transportation. Walk it'll save you money and help you shed a few undesirable pounds. Carpool. You and some of your colleagues can take turns driving each other to work. Talk to your supervisor about telecommuting one day a week.
I am absolutely hooked on the TV show "Dancing With The Stars" and love to watch how celebrities transform from stumbling lead foots to gliding gazelles. It's not easy being criticized brutally by the judges every week and then being subjected to elimination. R&B heartthrob Mario has been the most recent recipient of barbs from the judges.
Although many of the contestants are considered B-list performers they subject themselves to the ridicule recognizing exposure can reignite their careers. They take the risk because the potential rewards are so great.
This is also true when it comes to your finances.
The current state of affairs in the economy may look bleak -- falling home values, mortgage industry instability and volatility in the stock market. However, wealthy people understand that it is during these times that opportunities present themselves. ...
While millions of Americans are trying to figure out how to weather a recession the wealthiest of Americans are flourishing. According to a recent report, "Wealth held by rich investors with assets over $1 million will grow their stacks 50 percent in the next five years to $75 trillion." Is it the same old story as the rich get richer? In the past five years rich clients banked an average annual return of 12 percent which allows them to double their money every six years. Perhaps you believe rich folk have an advantage because of their access to the global private asset management world of hedge funds.
Get real! The truth is that if you had invested in an index fund mirroring the performance of the S&P 500 you would have earned an average return of 11 percent during the same period.
If your adjustable rate mortgage is a ticking time bomb that could explode in the very near future you should be exploring all options.
Lenders have tightened their standards and are requiring higher credit scores for conventional mortgages. In these troubling economic times stellar credit is difficult for the majority of folks needing to refinance. If you don't have an unblemished credit record there is still hope.
Recently the Federal government increased the loan limits on FHA loans for people living in high priced metropolitan areas like Washington DC, San Francisco and New York to a maximum of 729,750. Unlike conventional mortgages FHA loans don't rely on credit scoring for qualification and individuals can refinance up to 97% of their home's value. Mortgage brokers are starting to see their refinancing business increase as a result of these changes and the government hopes their actions will help to ease the housing crisis.
Here are some refinancing tips for you to consider. ...
Why do celebrities seem to be the targets of I.R.S probes? In my "The Tax Man Cometh"post I wrote about how the I.R.S. dogged Heavyweight champion Joe Louis for years.
Many a celebrity has learned they also need to have someone else overseeing the folks who are counting the money? But others in our Top 15 have even better excuses.
I never understood the whole premise of sub-prime loans.
You don't qualify for a conventional loan because of your credit history and or income so let's qualify you for a loan that's less affordable.
Now we know that those blaring commercials that flooded the airwaves at the height of the housing boom were used to purposely lure folks into ill fated loans for a large commission on the transaction.
People demonstrate outside a HOPE NOW home ownership preservation workshop at the University of Pennsylvania in Philadelphia, Tuesday, April 1, 2008. Demonstrators hoped to draw attention subprime mortgage crisis. (AP Photo/Matt Rourke)
AP
Joseph Barratt, 55, and others demonstrate outside a HOPE NOW home ownership preservation workshop at the University of Pennsylvania in Philadelphia, Tuesday, April 1, 2008. Demonstrators hoped to draw attention subprime mortgage crisis. (AP Photo/Matt Rourke)
AP
LAGUNA HILLS, CA - MARCH 28: A foreclosure sign stands in the yard of a house to be sold in an upcoming 11-day foreclosure auction of more than 1500 southern California homes March 28, 2008 in Laguna Hills, California. Cleaning up foreclosed properties is full-time work as home foreclosures are booming in the wake of the sub-prime loan crises, leading to abandoned and run-down properties that suppress neighboring home values and lower property tax revenues. Sub-prime loans make up 14 of total mortgages but account for about 60 of foreclosures. (Photo by David McNew/Getty Images)
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LAGUNA HILLS, CA - MARCH 28: Sebastian Villalba mows grass and weeds to prepare a house to be sold in an upcoming 11-day foreclosure auction of more than 1500 southern California homes March 28, 2008 in Laguna Hills, California. Cleaning up foreclosed properties is full-time work as home foreclosures are booming in the wake of the sub-prime loan crises, leading to abandoned and run-down properties that suppress neighboring home values and lower property tax revenues. Sub-prime loans make up 14 of total mortgages but account for about 60 of foreclosures. (Photo by David McNew/Getty Images)
Getty Images
LAGUNA HILLS, CA - MARCH 28: An Orange County Sheriff eviction notice hangs on a house to be sold in an upcoming 11-day foreclosure auction of more than 1500 southern California homes March 28, 2008 in Laguna Hills, California. Cleaning up foreclosed properties is full-time work as home foreclosures are booming in the wake of the sub-prime loan crises, leading to abandoned and run-down properties that suppress neighboring home values and lower property tax revenues. Sub-prime loans make up 14 of total mortgages but account for about 60 of foreclosures. (Photo by David McNew/Getty Images)
Getty Images
LAGUNA HILLS, CA - MARCH 28: Sebastian Villalba mows grass and weeds to prepare a house to be sold in an upcoming 11-day foreclosure auction of more than 1500 southern California homes March 28, 2008 in Laguna Hills, California. Cleaning up foreclosed properties is full-time work as home foreclosures are booming in the wake of the sub-prime loan crises, leading to abandoned and run-down properties that suppress neighboring home values and lower property tax revenues. Sub-prime loans make up 14 of total mortgages but account for about 60 of foreclosures. (Photo by David McNew/Getty Images)
Getty Images
LAGUNA HILLS, CA - MARCH 28: Sebastian Villalba mows grass and weeds to prepare a house to be sold in an upcoming 11-day foreclosure auction of more than 1500 southern California homes March 28, 2008 in Laguna Hills, California. Cleaning up foreclosed properties is full-time work as home foreclosures are booming in the wake of the sub-prime loan crises, leading to abandoned and run-down properties that suppress neighboring home values and lower property tax revenues. Sub-prime loans make up 14 of total mortgages but account for about 60 of foreclosures. (Photo by David McNew/Getty Images)
Getty Images
A crowd of protesters hold up anti-war signs Friday March 28, 2008, in Freehold Township, N.J., as one of the presidential helicopters lands near a company where President Bush was visiting to spotlight the administration's efforts to save struggling homeowners from foreclosure. The president plans to stop by a mortgage counseling company that's part of the "Hope Now" alliance. (AP Photo/Mel Evans)
AP
Bill Suky, right, points out the arriving helicopter of President Bush Friday March 28, 2008, in Freehold Township, N.J., to wife, Dolores Suky, second right, Lucille Cerbini, left and Francine Jordan, second left, as they stand with a gathering of Bush supporters. President Bush was visiting New Jersey to spotlight efforts to save struggling homeowners from foreclosure. The president plans to stop by a mortgage counseling company that's part of the Hope Now alliance. (AP Photo/Mel Evans)
AP
Diane Beeny holds up an anti-war sign as she stands with a large crowd of protesters Friday March 28, 2008, in Freehold Township, N.J., near a company where President Bush was visiting to spotlight efforts to save struggling homeowners from foreclosure. The president plans to stop by a mortgage counseling company that's part of the Hope Now alliance. (AP Photo/Mel Evans)
Gold seems to be the hot commodity for these perilous times.
Investors who are looking for a place to stash money have pushed the price of gold to an all time high of $1,000.00 per oz. What a difference a few years can make. In December of 1999 the price of gold was at 326.00 per ounce. In less than 10 years the price has tripled.
The number of farms in the United States continues to shrink because of the industrialization of farming. These days when you think of a foreclosure it brings visions of shuttered vacant homes.
The crisis is spreading as black farmers and their families struggle to hold on to their land.
Land ownership by blacks has declined by more than fifty percent since the 1920's.
When I grew up in Detroit we loved driving across the Ambassador Bridge into Windsor, Canada to stretch our dollar.
Back in the day, American greenbacks could be exchanged for forty percent more -- $1.00 was worth a $1.40.
Imagine my surprise when I learned that the tables have now turned as the "loonie" has reached parity with the dollar. Canadians are crossing the bridge to Detroit to shop til' they drop.
The dollar's value is declining against just about every major currency -- Yen, Euro, and the Swiss Franc.
Who knew that Joe Louis the first African American Heavy Weight Champion of the world was dogged by back taxes for most of his life?
"Betrayed," an HBO documentary of Joe Louis, chronicles how the I.R.S. literally stalked and garnisheed most of this American icon's income until he married an attorney who was able to negotiate a fair settlement.
To this day, one of the major reasons people, celebrities in particular, experience financial difficulties results from not paying income taxes.
Most recently, Wesley Snipes and let's not forget another heavy weight champion Mike Tyson. However, tax liens are not limited to the rich and famous. If you are considering or have not filed taxes in a few years it could be a costly mistake and here's why -- PENALTIES!
Here's a primer on the on the types of penalties that theI.R.S. can levy ...
This exclusive club includes Warren Buffett, the world's richest man, who has a fortune estimated at $62 billion. He's banked $10 billion more since last year.
Aliko Dangote (from Nigeria, pictured left) and Patrice Motsepe (from South Africa, pictured below) have wealth of $3.3 billion and $2.4 billion respectively, and represent some of the richest black people in the world.
Lenders have tightened their standards and are requiring higher credit scores for conventional mortgages. In these troubling economic times stellar credit is difficult for the majority of folks needing to refinance. If you don't have an unblemished credit record there is still hope. 
You don't qualify for a conventional loan because of your credit history and or income so let's qualify you for a loan that's less affordable. 
Investors who are looking for a place to stash money have pushed the price of gold to an all time high of $1,000.00 per oz. What a difference a few years can make. In December of 1999 the price of gold was at 326.00 per ounce. 
The number of farms in the United States continues to shrink because of the industrialization of farming. These days when you think of a foreclosure it brings visions of shuttered vacant homes. 
"Betrayed," an 
