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Time to Replace Your Debit Card With a Prepaid Card?
Tweet Share on Facebook October 31, 2011 Comment (1)The idea of paying fees for access to their own money doesn’t sit well with most consumers--especially after Bank of America’s recent announcement of a $5 monthly fee for debit card users (the company is reportedly reconsidering the controversial fee.) While big banks contend that they’re just trying to generate extra revenue after Congress passed the Durbin Amendment that cuts swipe fees for debit card transactions, consumers aren’t happy about absorbing the costs.
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The Big Business of Personal Finance Blogs
Tweet Share on Facebook October 28, 2011 Comment (9)Imagine starting a blog about money. You write about your monthly budget, saving for retirement, and how much you spent on your last car. Your friends poke fun at your blog and the hours you spend toiling over each article. But you’re having fun, so you keep at it.
Then something unexpected happens--you start to get a following. Perhaps your little blog gets mentioned by mainstream media or featured on a major website. As a result, the number of visitors starts to grow.
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Credit Education Just a Phone Call Away
Tweet Share on Facebook October 27, 2011 CommentWith a 20-minute phone call to Experian, I was able to verify that my credit is in good shape, but learned that there are still some things I could be doing better.
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7 Bad Habits Fueling Your Debt Addiction
Tweet Share on Facebook October 24, 2011 Comment (2)If mood-boosting shopping sprees and racking up credit card rewards are a part of your lifestyle, you could be fueling a dangerous debt addiction. Results of Card Hub’s latest credit card debt study show that Americans accumulated $18.4 billion in credit card debt in the second quarter of 2011 alone. Credit card debt continues to be a major financial problem for the average American consumer, yet many are still living a lifestyle that supports a costly debt habit.
[See 12 Money Mistakes Almost Everyone Makes.]
Here are seven bad habits that could be fueling your debt addiction:
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The Bank Fee Wake-Up Call
Tweet Share on Facebook October 21, 2011 Comment (5)Never before has one bank fee enraged so many customers. Bank of America's new $5 debit card fee is not the first new debit card fee announced by big banks, but it is perhaps the fee with the widest reach and the most attention. The outrage is amplified by the public's dissatisfaction with and anger toward the banks. This attitude was kicked into high gear after a series of bailouts, unceasing executive bonuses, and a lack of serious accountability for the financial industry's role in the recent economic collapse. After a period during which banks received special treatment by the government to help them survive, each new fee targeting customers is like a slap in their collective face.
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The Best Ways to Avoid Debit Card Fees
Tweet Share on Facebook October 20, 2011 Comment (2)The Durbin Amendment was enacted with the intention of knocking down interchange fees and easing the burden on consumers and merchants alike. Card networks are soaring through loopholes to maintain profits, banks are imposing debit card fees, and merchants are paying greater interchange fees than ever. Debit was once an extremely convenient and cost-efficient form of payment, but it has taken a turn for the worse. Here’s why you might want to ditch your bank and cut up your card.
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How to Protect Your Vacation Home From Break-ins
Tweet Share on Facebook October 19, 2011 Comment (2)Do you own a rental property or vacation home? If so, then you know better than anyone how often your property sits vacant. Whether it's waiting for the next round of vacationers or a new renter, there are often long stretches of time when your property is unoccupied. But this can be a security nightmare for landlords and investors. After all, thieves often seek out vacant homes since they have the lowest risk for a run-in with the owner.
That said, there are plenty of things you can do to protect your vacant rental or vacation property from a home break-in.
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Alternatives to Big Banks
Tweet Share on Facebook October 18, 2011 Comment (1)Bank of America and Citibank are just the latest banks to announce new fees to help juice up their profits. While I don't begrudge them trying to replace lost interchange fee income, I understand the public's scorn over their latest move to nickel and dime their way to healthier profit statements.
That said, there are a lot of options out there for customers looking to make a change. There are plenty of financial institutions happy to take your money and not charge you for the right to access it. Some, if you're especially nice, will even give you a modest return on those savings.
[See 10 Ways to Improve Your Finances in 2011.]
Here are just a few options available to almost everyone:
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How to Get Discounts on Salon and Spa Services
Tweet Share on Facebook October 17, 2011 Comment (1)If a facial at the spa or a professional haircut always seem to be a luxury expense, you may be missing out on some great deals from local spa and salons in your area. From online-only specials to package discounts, local beauty businesses are trying to stay afloat by offering discounts of 15 to 50 percent or more on popular treatments. In some cases, the best deals aren’t even advertised.
Use these tips to get discounted rates on salon and spa services in your area:
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5 Common Travel Insurance Myths
Tweet Share on Facebook October 14, 2011 Comment (2)Buying travel insurance makes sense when booking a coastal vacation or heading off on a cruise. But do you really need insurance for that family ski trip or Costa Rica getaway? Travel insurance typically covers the cost of trip interruptions and cancellations, loss of luggage, and transportation to medical facilities in the event of an accident. However, your homeowners or auto insurance may already cover a lot of these extra expenses. Make sure you’re not buying travel insurance for coverage you already have.
Here are five common myths about travel insurance:
