As the government interference in the free market mortgage economy sorts itself out over the coming hours and days, we'll share our thoughts on this big piece of consumer news. There are still several battles looming and today's Wall Street reaction before a true temperature can be taken of the unilateral government actions being taken.Meanwhile, the FCIC, one of our favorite federal or local agencies, does an excellent job with a new publication on saving on loans and credit cards. As always, the agency and its content partners do a great job describing an issue and its solutions (or prevention) in plain ole' English.
(from their release)
For many, nothing says the holidays more than shopping: hitting the sales, taking in the sights, searching for the perfect gift for everyone on your list.
But it's very easy to shop yourself into more debt than you can handle. This year, resolve to keep your expenses in check and your credit intact -- it's a gift you'll appreciate the whole year through.
Check out 51 Ways to Save Hundreds on Loans and Credit Cards from the Federal Deposit Insurance Corporation (FDIC) and the Federal Citizen Information Center to get advice you can use now and to start the new year off right.
BUDGET: Set a budget whenever you shop. Decide how much you can spend, and don't go over that limit. Paying with plastic? Look at how much you already owe on your cards. One of the quickest ways to run up debt is to only pay the minimum amount owed on your credit cards. Late fees add up, too, and so does going over your credit limit. 51 Ways to Save has other helpful tips for paying less in credit card fees and interest.
BEWARE QUICK CASH LOANS: Proceed with caution if you're looking for quick cash for a shopping trip. Car title or "payday loans" can get you money fast, but they come at a steep price -- the interest rate on a payday loan can be as high as 391 percent! Instead, start a savings account where you can put just a little bit from each paycheck throughout the year. You'll have saved plenty for gifts in time for the next holiday season. If you're considering other loan options for extra cash (like a home equity loan), make sure to check out 51 Ways to Save to learn how to shop for the best deal, compare Annual Percentage Rates (APR) and read the fine print to save even more.
You can get 51 Ways To Save three ways (four, if you count sending us a $25 money order...we're just joking, don't do that)
* Send your name and address to 51 Ways to Save, Pueblo, Colorado 81009.
* Visit www.pueblo.gsa.gov/rc/n7051waystosave.htm to order online or to read or print these and hundreds of other Federal publications for free.
* Call toll-free 1 (888) 8 PUEBLO weekdays 8 a.m. to 8 p.m.
Labels: credit, FCIC, financial
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