The Bible teaches us many things about money. We have a pastor of financial planning at our church in South Carolina and his business continues to grow as he travels around the country teaching others how to handle their finances in a Biblical manner. The Sun Sentinel in Florida recently wrote an article about the increase in Christian-debt elimination programs.

Seminars are now being offered at churches throughout the U.S., according to the article. Our financial pastor, Joe Sangl, is traveling to churches in areas such as Missouri, Florida, Kentucky and many others sharing his Financial Learning Experience. In South Florida, Dave Ramsey’s Financial Peace University has been very popular. There are 4,000 churches that have started offering the classes throughout the country.

A spokeswoman for Ramsey said the average family pays off $5,300 in debt after taking the class. And they save $2,700 within three months. With the recession it seems people are definitely finding these classes appealing.

According to Crown Financial Ministries, the Bible offers more than 2,000 verses related to money. Sangl and Ramsey both discuss Bible verses in their classes. Sangl’s class schedule: New Life Center in Bridgeton, MO March 6 and 7. New Spring Church in Greenville, SC March 11, Cowee Baptist Church in Franklin, NC March 14 and Main Street Baptist Church in Alexandria, KY March 20-21. Check out Ramsey’s website and you can type in your zip code to find a class near you. You can also attend online.

Here are some websites that I found that might be helpful as you follow a Biblical-based financial plan:

Christian Financial Planner

Biblical Stewardship

Crown Financial Ministries

Christian Money

The CBS Early Show recently featured the CEO of Billshrink who discussed the many things that we tend to pay way too much for.

Non Bank ATM Fees

You can pay an average of about $3.50 every time you have to use an out-of-network ATM, says Peter Pham, with Billshrink. According to Bankrate, Americans pay more than $4 billion in ATM fees per year. Pham offers this tip: take some time to search for a bank with a good ATM policy.

Credit Card Late Fees/Overdraft Fees

All of these fees can really add up, says Pham. Consider a card with an annual fee. A fee could save you thousands in interest rates. Also, try to cut back on the amount of cards that you have. Consolidate your debt into one or two cards, says the article. Watch out for “processing fees” as well.

Car Maintenance at the Dealership

I learned my lesson when I was young and didn’t know any better and continued to take my car to the dealership. Now, I ask around and find a reputable locally-owned garage. Almost $9,500 is the average amount spent by Americans to maintain their car each year. Those repairs can often be done by a local shop. And you’re helping out your fellow neighbor. Negotiating a job is also easier when you are at a mom-and-pop shop. Another tip from Pham: check out a local community college and see if they have an automotive technical program.

Pseudo Health Products

Watch out for fad health foods. Check the ingredients. They may not really be as healthy as you think and are often more expensive. Think about making some of your own healthy snacks, suggests Pham.

Cell Phone Plans

According to the article, 80 percent of us overpay on our plans. The biggest reason is people don’t really know how much they use texting, voice minutes and data. Many more people are getting family plans to help. Sit down and go through your cell phone bill. Look into a family plan, look at who you call the most and see which carrier they are with. Take advantage of the free phones they often offer with contracts and get rid of those services you really don’t use, says the article.

If you’re a fan of Dave Ramsey you often hear people call into his radio show, telling Dave their stories of paying stupid tax. It’s basically just money that people have essentially thrown away because they didn’t know any better. Some examples of stupid tax are:

* Someone leased a car only to end up owing a balloon payment at the end of the lease terms.
* Someone signed up for a service only to realize they couldn’t get out of it without paying way too much money.
* Someone used their credit cards and racked up big amounts of debt.
* Someone didn’t pay their taxes or a parking fine and ended up owing way more than they would have if they just paid right away.
* Someone gets stuck in a cycle of needing payday advance loans and ends up paying high interest rates because of it.
* Someone consistently pays lots of money to the bank in overdraft fees each month because they can’t get a handle on their finances.

Just about all of us have paid stupid tax at some point (or several times) in our lives. My biggest payment of stupid tax happened because I decided to dabble in the stock market. I had some extra cash and thought it would be a good investment. I put about $3000 into one single stock which tanked. I paid what I would call a hefty stupid tax to learn that someone who doesn’t follow stocks closely and doesn’t know much at all about the stock market should not invest thousands into a single stock on a whim. It’s pretty much like playing the lottery, only the ticket costs a lot more than $1.

Have you paid stupid tax?

In today’s tough economy it can be difficult to put away some cash and keep it there. According to the U.S. Department of Commerce’s Bureau of Economic Analysis, the personal saving rate in December was 4.8 percent, up from 4.5 percent in November. The personal saving rate is calculated by subtracting what Americans spend from what they make. A recent article in Florida Today newspaper discussed the importance of saving.

Motivation:

Emergencies are one of the most important reasons to save some cash. The next reason should be retirement and then saving up for something you really want like a new car or television. Here’s a rule of thumb: have enough money to live on for six to 12 months. And it’s important to consistently put money into it, says the article.

Teaching Kids:

I remember getting my first piggy bank and I was so excited when I was able to drop a few dimes or quarters into it. Encouraging our kids to start saving early is important for their future. Here’s a tip: teach them to divide any money they earn or get into two piles. put half in the bank and keep the other half or spend it. Also, teaching kids how credit cards work is important as well. According to a 2008 Sally-Mae credit card study, college seniors graduated with an average of more than $4,100 in credit card debt.

Stick to a Plan:

Keep to a budget no matter how difficult things may seem. Continue contributing to your 401(k) and continue stashing away some cash. When it comes to retirement, start saving NOW, says the article. First, you can analyze your spending and expenses. Try cutting back and look for free entertainment or cook more at home. One thing my husband and I do is keep loose change in jars. When they fill up, you can take them to the bank.

Easy Ways to Save:

$15: Amount you can save each month if you stash 50 cents a day in loose change.

$6: You can save this amount per month if you cut back on soda by 1 liter per week.

$40: Monthly amount you can save if you switch from cappuccino to regular coffee.

$25: Your monthly savings if you pa your credit card bill on time.

Check out America Saves for some more tips and help.

About a year ago Cinda Baxter wrote a blog post about the importance of supporting local businesses. Soon that idea blossomed into what is now The 3/50 Project. Here’s the lowdown:

3: Think of three local businesses that you love. What would happen if they shut down? Make a commitment to stop into those stores this month.

50: If half the employed population spent $50 a month in those businesses that would generate more than $42.6 billion in revenue.

Wondering what’s the big deal with shopping locally compared to shopping in chain stores? Well much more of your money sticks around your community when you shop in locally owned stores. According to the 3/50 project, for every $100 you spend in local shops, $68 returns to the community through taxes, payroll and other ways. If you spend that same $100 in a chain store, only $43 stays local.

Here’s how you can support local businesses through the 3/50 Project:

1. Find out who’s involved in your community. The 3/50 Project has a list of local businesses who are supporting this movement according to each state. Search for those in your area and do your part to get behind them.

2. Become a supporter. Even if you don’t own a local brick and mortar shop, you can still be a supporter. Print out the free flyers, hand them out and spread the word.

3. Promote the movement. There are also ways you can promote the movement through social media. If you have a blog, consider putting a badge promoting The 3/50 Project on your website. You can even promote the movement on your Facebook page.

Still feel like you need more information about the benefits of shopping local? Check out the frequently asked questions page of The 3/50 Project.

Suze Orman has talked about tracking spending, looking at your credit, shopping for insurance deals, finding a credit union and challenging our property-tax assessment in her article in O, The Oprah Magazine this month. Now, her final topic is saving and being prepared for the future.

Build Security

1. Boost your emergency fund to cover eight months of living expenses. Hopefully you are saving a bit of money here and there. Now you need to have at least eight months’ worth of living expenses, says the article. Check out myfdicinsurance for information on banks and ncua for credit unions. Make sure you have your money in a place that is federally insured.

2. Get the maximum 401 (k) match at your job. Call your human resources department or the company that is in charge of the plan. Increase your contribution so you qualify for the max match, says Orman.

3. Roll over 401(k)s from former employers into an IRA. I made the mistake of not taking this advice and was left with quite a bit less money in my pocket. When you leave a job, you can roll it over to a brokerage or fund firm. Roll it all over into an IRA. Pick a discount brokerage or no-load mutual fund company.

4. Fund a Roth IRA. In 2010 the maximum is $5,000 ($6,000 if you’re 50 or older) for individuals with modified adjusted gross income below $105,000 and married couples filing a joint return with MAGI below $167,000. Find out if there is a program that lets you invest small monthly sums of $50.

5. Leave your retirement funds alone. If you’re dipping into your retirement money to help pay bills now, when it runs out then what will you do? You still have money problems and then your retirement is gone. Go to moneychimp and click on the calculator tab. Under “current principal” enter the value of your 401(k). Orman says leave “annual addition” blank. For “years to grow” enter the difference between your age and 65. For “interest rate” use 5 percent. Look at the future value. The difference between that and the current value is what you’d be giving up by cashing it out, says the article.

6. Convert to a Roth IRA. Since the beginning of this year, anyone can convert a traditional IRA to a Roth IRA. Money in a Roth can be withdrawn for retirement with no taxes. If you take money out of a traditional one, you will be taxed. Orman says if you have deductible and non deductible traditional IRAs, ask a CPA to determine your tax liability.

To ask Suze Orman a question, you can go to Oprah Magazine’s website.

Suze Orman continues to give money advice in O, The Oprah Magazine this month. Her list “guaranteed to be ridiculously easy to implement” has several bits of advice. The first was track your spending, calculate your net worth and check your credit.

Find Hidden Savings

1. Shop for insurance deals. We’re always shopping around looking for great bargains, right? So, do the same for auto and home insurance. Just don’t reduce your level of coverage. These websites insweb and netquote can help you find quotes from different insurers.

2. Raise your insurance deductibles. If you raise your auto and home deductibles to $1,000, your premium cost falls 10 percent or more. Low deductibles can cause you to make claims for small-ticket items. There is also a nice payoff for a higher deductible, says the article. Just go ahead and call your insurer and ask for a new quote based on a higher deductible.

3. Check out a credit union. I don’t use a credit union, but I’ve heard great things about them. Sometimes you can get a better deal with a credit union. They also tend to pay higher yields on deposits. Findacreditunion can help you track down the best one. Make sure you look for one that is part of the federal insurance program run by the National Credit Union Administration.

4. Challenge your property-tax assessment. Orman says home values are down an average of 30 percent since the 2006 peak. If your assessment doesn’t reflect that, you might be overpaying. Call up your county tax assessor to find out more. The National Taxpayers Union also has a book on the topic.

Less than 25 percent of women feel they are “very well prepared” to handle their finances. World-renowned financial author Suze Orman gave her advice to women in a recent issue of O, The Oprah Magazine.

Get A Grip

1. Start tracking your spending. We usually pay close attention to the big-ticket items, but we often ignore the little things that begin to add up before you know it. All you have to do is get all of your credit card and bank statements. Suze Orman offers Suze’s Expense Sheet. You input your average monthly expenses and see where your money is going.

2. Calculate your net worth. This is important because we often forget about our debts. You have to pay attention to the big picture, says the article. Go to a search engine and type “net worth calculator.” There are lots of free tools out there on the Internet.

3. Check your credit profile. Your credit score can affect so many things, such as interest rates and insurance in some cases. Check out Annual Credit Report to get a free credit report. You can get one free report each year.

4. Cut spending by 10 percent.  According to Orman, the median pay raise for this year is expected to be around 3 percent. So, take a look at your spending and try to cut it by 10 percent.

I’m always looking for a good book. I’ve been fortunate because my church often hands out books to its members to help them with their Christian journey and that includes financial help. Here are some Christian-based books that might come in handy when you’re taking a look at your personal finances.

“I Was Broke, Now I’m Not” by Joe Sangl: This is a quick read and very helpful. My small group at church read this book together. If you’re tired of living paycheck to paycheck and tired of being broke, check out this book.

“The Total Money Makeover: A Proven Plan for Financial Fitness” by Dave Ramsey: Take a look at seven easy-to-follow steps that will lead you out of debt.

“The Sound Mind Investing Handbook – A Step-By-Step Guide To Managing Your Money From a Biblical Perspective” by Austin Pryor: Pick this one up and learn how to put Godly principles of finance in motion.

“Financial Parenting: Showing Your Kids that Money Matters” by Larry Burkett and Rick Osborne: Teach your kids the Biblical principles of handling money.

Here are some books that aren’t Christian-based, but may also help you to focus on your finances.

“Money 911″ by Jean Chatzky: This book can rescue you from more than 100 money emergencies.

“Shoo, Jimmy Choo!” by Catey Hill: This one is a guide to spending less money and written by someone who used to splurge.

“Save Big” by Elisabeth Leamy: Find out how to save thousands on your biggest expenses.

“Making The Most of Your Money Now” by Jane Bryant Quinn: With more than 1,000 pages, this book talks about so many topics from auto insurance to zer0-coupon bonds.

“Shoptimism: Why the American Consumer Will Keep on Buying No Matter What” by Lee Eisenberg: Read up on what drives people to keep spending money.

“Get a Financial Life: Personal Finance in Your Twenties and Thirties” by Beth Kobliner: Give this one as a graduation or wedding gift and help those just getting started to learn more about finances.

“Spend ’til The End” by Laurence Kotlikoff: Are you thinking about retiring? Pick this one up to learn about stretching your retirement savings.

December is known for too much eating. That’s why in January many people launch diet plans and workout routines. But the holidays are also a time for too much spending. So starting this Saturday my husband and I are going on a two-week spending diet. Actually it would be more like a fast because we’re not spending a dime– at least that’s the goal!

We both like a challenge. Inspired by a documentary about the Ultramarathon Man Dean Karnazes, my husband got up early one Saturday morning and ran 18 miles– nearly five miles more than the distance of a half marathon! And he did it without training! So I think he’ll enjoy the challenge of not spending a penny for two weeks.

The Two-Week No Spending Challenge takes a little bit of preparation. Neither of us are required to drive a lot for our jobs so we plan to fill up our tanks the day before the challenge and make that last for two weeks. I am also planning meals that will use up many of the items I have stockpiled in our pantry which means I won’t have to spend much extra on groceries this week to prepare for two weeks of no spending. I will buy extra milk, but when it’s gone it’s gone! As for entertainment, I’m sure we’ll find plenty of free stuff to do. We’ve got a party to go to and I have some codes that will allow us to rent free movies from Redbox.

There are two main objectives with the Two-Week No Spending Challenge. The first, of course, is to save money. While we aren’t big spenders normally, this will help us start the new year off on a great foot financially. The second objective goes along with the first. I believe the Two-Week No Spending Challenge will help us become better disciplined with our spending and realize that we already have everything we need– no spending required!

Care to join us in our Two-Week No Spending Challenge? Ours is running from January 16 until January 30. Don’t worry– I plan to let you know how it goes along the way. And if you have any advice I’d love to hear it!

Looks like it might prove to be a harsh winter with the recent snow storms on the East Coast and cranking up the heat in the house will definitely be a reality for the next few months. And the federal government is here to help. Almost 8 million households received assistance to heat their homes this fiscal year which is up 33 percent from 2008, says an article in USA Today newspaper.

As the economy continues to struggle, the National Energy Assistance Directors’ Association says more and more will be needing assistance with keeping their homes warm. Congress gave $5.1 billion to the Low Income Home Energy Assistance Program. That’s much higher than the $2.6 billion last year.

The federal government is working to step in and assist those in need the same way they help with other needs, such as health care and food. This year, millions of households had their utilities shut off due to non-payment and it’s increased. According to the article,  the average amount given to a home in 2009 covered 48 percent of winter heating bills.

Along with the government, there are others who are helping those who may need some help with bills. As Christians it is our call to help others in need and I know of several churches in my area that assist local people with utilities. Many churches have programs set up to help you pay a late heating, water or electric bill, so you won’t be left without these basic needs. While the government works to help others in need, let’s remember especially at Christmas that people in our community need our help.

As all of us continue to shop for Christmas using our credit cards, we need to be careful when it comes to paying off our cards and keeping our credit score in check. I was listening to the radio when the John Tesh radio show came on and he often discusses finances. The topic of the evening was “Common Myths About Credit Scores.” I thought it would be important to share this time of year. Some of the tips also come from the website Wallet Pop.

Myth #1: My credit score only changes once a year.

There are three credit agencies – Trans-Union, Equifax and Experian. These agencies recalculate your score each time that you apply for a new loan or sign up for a credit card. It’s a good idea to get copies of your credit report from each company once per year.

Myth #2: One missed payment won’t hurt my score.

Paying your bills on time is one of the most important factors in determining your credit score. One late payment and your score decreases.

Myth #3: Checking your score too often will lower it.

I know I’ve heard this one before and wondered if it was true or not. You can actually check your score as often as you like with no problems. Your own credit is considered a “soft inquiry” so it doesn’t affect your history.

Myth #4: Carrying no debt is the best way to boost my score.

According to the banks, they consider higher risk people to be those with no credit cards and no loans. Those who use their credit cards responsibly are seen as positive.

Myth #5: My score will be fine as long as my debt never exceeds 30 percent of my income.

Actually, credit bureaus don’t keep track of your salary. How much you make doesn’t factor into your credit score. They just want you to pay your debt off in time.

What’s the best credit score to have? You want to try and have at least a score of 740 to get the best loans, credit cards and interest rates. Go ahead and shop, but make sure your pay on time when that bill arrives.

We’ve been discussing Joseph Sangl’s Fundamental Rules of Money Management. Let’s recap what he’s laid out for us.

Rule #1: Make hay while the sun shines. Make sure you are saving and storing money for the future.

Rule #2: Sow some seed. If you want to harvest something, you better plant something. Are you saving and investing in a 401(k)?

Rule #3: Nothing will happen until you do something. If you are stuck in a dead-end job, find what you are passionate about and pursue it. Want to take control of your finances? Step out there and work on it.

Rule #4: You must have margin. This can help when any financial emergencies come up and allows you to consider new opportunities without having to say “I don’t have the money.”

Finally Rule #5: If it sounds too good to be true, it’s most likely a scam.

I think we’re all pretty familiar with this statement. There have been plenty of times that I’ve heard of a great deal, but had to remind myself to take a step back and really check it out. Joseph recalls a time when he was presented with what seemed like a great opportunity to make some money. All he had to do was pay in $1,000 and then once eight other people joined in he would receive $8,000. I’ve also been presented with similar schemes.

Many of Joseph’s co-workers jumped into it and then of course the ones running the scheme took off with the money. Here is what Joseph says he discovered: When you are broke, you are way more susceptible to get-rich-quick scams and schemes.

As tempting as it might sound, the best thing to do is remain calm and especially patient when it comes to financial decisions. I know when my husband and I put our trust in God and let him handle our finances, things seem to fall into place.

We’ve discussed saving, investing and getting up and doing what you love. Joseph Sangl, a financial guru at my church, has been putting together some rules to help readers manage their money. Once again, this rule focuses on saving to improve your  life.

Rule #4: You must have margin

There are many, many  people who don’t have any savings. Joseph discusses how he lived in that situation and didn’t have any money for emergencies. He says he never really realized how important it was until he finally had some money tucked away.

A good savings account provides margin. This helps you think seriously about the future. It can aid you in choosing a career path, business decisions or moving. You don’t want to have to say “That will cost money. Money I don’t have.”

Joseph says “financial margin allows you to absorb unexpected financial events” like problems with your car or washing machine etc. It helps to keep you from incurring new debt. You can also use it to take advantage of some bargains.

I’ve realized that not having to worry so much about money really improves your well being. My husband and I finally sold our house in Florida on Friday after being on the market for two years. We now can boost our savings, have a little extra money for some fun and our stress level is beginning to decrease.

We’ve covered Rule One and Rule Two of Joseph Sangl’s rules of money management – dealing with saving and investing.

Rule #3: Nothing will happen until you do something

Joseph used to have a regular job – a 9 to 5 type – but instead of being excited every morning about his work, he would wake up and just want a cup of coffee. He says he wanted to do something that really made a difference. I’m sure all of us have met plenty of people who just hate their job and feel like they have hit a dead end. I have definitely been there before and it’s tough.

Joseph has also been there, but instead of complaining about it (like many do) he decided to get up and try to do something about it. This is when he began working as a financial counselor. He offered it for free to people he knew and he realized it was something he really enjoyed. He realized he had to make the first move and find something else to do with his career.

So you want to score big when it comes to your finances? You want to save money and invest wisely? Go ahead and take that step to better your life. It’s tough at first. My husband and I have realized that since we started tithing we haven’t been as stressed out about our finances. God has provided for us. We are able to save and spend our money wisely.

I took a big step personally a few years back. I was in the same career field for many years and decided to try something different. Although my background helped a bit, I was still having to learn a new field. I was glad that I tried it and took a step to do something that I’d enjoy. Now, I’ve learned from all of my jobs and continue to move in the direction of my ideal career.

You can do it too. Taking risks can often have a great ending and with God on your side the possibilities are endless in your personal life and your finances. Putting your trust in Him and His plan for your life, you’ll always end up ahead.

Joe Sangl has continued his series on managing your money. Relating it to farming is an angle for this series and he makes it simple to understand.

Rule #2: Sow Some Seed

You better plant something if you want something to harvest, he says. Discussing corn kernels is his way of explaining it. If you don’t plant them in the spring, you won’t be able to harvest them in the fall.

Here are the similarities when it comes to your finances.

Being stingy with seed leads to a poor crop. Seems pretty common sense to me. If you’d rather not have any money (which sounds silly) then don’t save. Don’t invest in anything and Joe says you’ll have a poor crop.

Some seeds will be eaten or rot. In his explanation he says you can coat the seeds with pesticides and other poisons, but some seeds will still be eaten. Others will rot and not germinate.

If enough is planted, an abundant harvest will appear before you. Make sure you plant enough seed and it will lead to great harvesting. Think about the future.

Just one seed has the ability to produce hundreds or thousands more seeds. Think about the harvest that will bring.

Now he puts it in more solid, financial terms. Are you investing in a 401(k)? Are you putting some in a savings account at your bank for something you want to do in the future? Are you investing in different things such as stocks, bonds, real estate, small businesses or other ways to grow your money. Don’t be afraid to be a bit aggressive, especially if you are young.

Sangl tries to provide real world advice when it comes to handling your money. We all could use some encouragement even though it’s tough to think about saving when you are living paycheck to paycheck. Just take a little bit at time and see the benefits.

I often check to see what the financial adviser for my church is up to and he has provided his readers with the five rules for managing your money. I wanted to share them with you. Joe Sangl has an ongoing blog with advice on saving and managing money.

Money Management Rule #1: Make hay while the sun shines

Joe Sangl talks about his days of growing up on a farm and having to make hay while the sun was shining. Winter was coming and a famine for the livestock. He says you can relate this to your finances.

There will almost always be a time of famine, he says. Many are being laid off, subjected to pay cuts, healthcare issues and having to endure increases in expenses. This can especially be tough if you have no savings.

When you cut hay, more will grow to replace it. Sangl explains that if you don’t cut the grass it will die off.  If you do cut it, you’ll have more growth. When it comes to your finances, if you save it will lead to more growth.

When you save plenty of hay, it gives you confidence. Setting up emergency funds make you feel safe and ready to handle any difficulties that come along. Even if you are just putting a little bit away it will add up in the long run. You’ll feel more confident and ready for the future.

I have plenty of friends who don’t have savings accounts and that can lead to anxiety. Fortunately, my husband and I have been able to put some money away in case we have any unexpected expenses.

After chatting with your spouse and children, it’s now time to talk with your parents about money. Real Simple magazine recently featured an article about money conversations that everyone should have. Let’s review the last couple of postings. Talk with your spouse about where all the money in the household goes, are there any changes that need to be made and is the retirement fund on track. Next, the kids also need to be aware of finances. You need to discuss responsibility with money and college funds.

The article also discussed conversations to have with your parents. Thirty percent of adult children contribute to their parents’ finances, says the Pew Research Center in Washington, D.C.

Do you have enough to retire comfortably?

Now, many retirees will most likely outlive their savings accounts. If you want to prepare before talking with them, you can use a retirement calculator at Bank Rate. This will help you see how large a nest egg they might need.

Have you thought about long-term-care insurance?

Real Simple says a private room at a nursing home can be $75,000 per year. It’s good to talk with them when they reach their 60s and are healthy. Do some research about the subject and share some information with them. Smart Money has an insurance evaluator tool to help you find out possible costs and insurance benefits.

In an emergency, who do you want to manage your finances?

Talk about it now! As much as we don’t like to think about possible health problems in the future, everyone needs a power of attorney. A software program, Quicken WillMaker Plus 2010, can help. Talk with your folks and see if they have a will or not. Make sure you know where the paperwork is if they do.

Along with your spouse, the next family members that should be aware of finances is your children. Kids need to have a grasp on what is and what isn’t something needed and that will help them with their spending habits the rest of their lives. Real Simple magazine’s November issue suggests starting those conversations as soon as they start to understand how much things cost and that’s usually early elementary school. According to a study by Schwab and the Boys and Girls Clubs of America, 60 percent of the teens surveyed  said that learning about money management is a priority.

Print out a copy of your family budget.

Go over it with your kids and show them where the money goes each month. If you don’t have a budget for the family, you can get a free one at Microsoft Office’s website. Search for “family monthly budget planner” and work on it together.

Discuss the plans for college.

College is expensive and the average annual cost is about $25,000 for a private school and $6,500 for a public one. Parents should keep in mind how to help their sons or daughters afford it, says the article.  When you have your child, talk to your spouse about college and start saving as soon as you can. When they get to middle school or so, talk about the costs. Saving for College can help you get started.

Consider a credit card.

At the end of high school, you want to make sure your child can be responsible and handle a credit card. I remember being in college and everywhere you went companies were hassling you to open an account and would give out free t-shirts and other items. According to Real Simple, the average credit card debt for college students is $3,173.  To teach them some responsibility you can add them to your card and set a limit. Explain the ins and outs of using one. Show your kids the proper way to use it and pay it off.

Money can be a touchy subject and one that may cause stresses on a relationship. One way to help combat problems is to communicate with one another. According to a Wall Street Journal poll, 75 percent of Americans have disagreements over money or household finances with their significant others. Money issues are also a contributing factor to divorce. In the November issue of Real Simple magazine, the money section talks about these conversations to have with your spouse.

Where does all of our  money go?

The article suggests that every couple have this discussion. Overspending is often a problem in relationships and needs to be addressed. If it seems everything is fine, it’s good to check in and make sure things are still okay. One suggestion is to keep a monthlong spending journal to track expenses. When it’s the end of the month, sit down and take a look. Create a list of goals and look at ways to cut back spending if necessary.

Do we need to change who does what?

My husband is the one who handles our finances and he’s very good at it. However, in some relationships the husband or wife may not want to handle everything themselves. Real Simple suggests you compile a list of all financial decisions or tasks that are made in your home. Maybe hold a monthly time to sit down and go over your list and see if the responsibilities need to be switched.

Are our retirement plans on track?

With 401K’s taking hits and other problems, make sure you discuss this topic. Take a look at your account statements (as painful as that might be).  Be honest and discuss concerns or fears about the future. The article suggests using an online calculator. Maybe you need to schedule an appointment with a financial planner to offer advice. To find a licensed one check out Fpanet.

What is our risk tolerance when it comes to investments?

Work as a team when discussing investment goals. Whether you are risky with investments or like to be conservative keep your emotions in check and find a middle ground. Check your portfolio online and read some articles or books on investing.

If you lost your job this year you may be eligible for some benefits– and we’re not talking about help from the government. Plenty of businesses and companies want to do their part to help the millions of people who are unemployed right now. Here are a few of the free perks to check out.

Free Medicine: For free medicine check out the Pfizer MAINTAIN Program. The Pfizer MAINTAIN Program provides free Pfizer medicines to qualified patients, delivered right to their home. The program was recently created to help the recently unemployed without insurance continue receiving their Pfizer medicines. You must apply for this program before December 31, 2009 and if you’re accepted you’ll receive free medicines for up to one year. You’re eligible if you’ve become unemployed since January 1, 2009, you were prescribed and have been taking Pfizer medicines for at least three months prior to enrolling in the program. You must also have no prescription coverage and must be able to attest to your financial hardship. To apply download this application and mail it in with proof of unemployment such as a state unemployment benefits letter, benefit check stub or your employer’s termination letter.

Kmart Savings: Save 20% off select store-brand merchandise at Kmart if you’re unemployed. Kmart customers must present a state-issued id and state-issued unemployment benefits enrollment confirmation in order to be a part of this program. You’ll get a discount card that you must show at checkout in order to get your discount. Cards will be issued through January 2010.

Free Healthcare: If you were laid off on or after March 31, 2009 you may be eligible to receive free healthcare from Walgreen’s Take Care Clinics. It’s called the Take Care Recovery Plan and it offers unemployed, uninsured people and their family members free limited primary health care and diagnostic testing. You must fill out this form and send it in along with a copy of your driver’s license and proof that you are receiving unemployment benefits.

Discounted Test Preparation: If you’re unemployed and looking to take the GRE or GMAT, you’ll get a discount in test preparation courses through PowerScore. The company needs proof of your unemployment in order to give the $50 off.

The countdown is on. It’s hard to believe but 2009 will be a memory in about two months. How are you going to finish strong and make these last two months matter when it comes to your finances? The last two months of the year can often be the most difficult when it comes to sticking to a budget and focusing on your financial goals. Here are some ideas for finishing out 2009 like a financial super star.

Take Your Lunch to Work the Rest of the Year: Join blogger KrystalatWork.com as she commits to bringing her lunch to work for the rest of the year. She’s not only trying to save some money but she’s trying to shed a few pounds in the process.

Give Your Bills an Audit: Are you paying too much for cell service, auto insurance or cable TV? Find out before the end of 2009. You’ll be happy to have the extra money in your pocket when 2010 rolls around.

Sell Five Things You No Longer Need: Put some extra cash in your pocket and some extra room in your closets. Get rid of five things you no longer need by the end of 2009. With eBay’s new policy you won’t pay listing fees for five items a month which means if your stuff doesn’t sell you’re not out any funds.

Make Your Home Energy Efficient: If you complete improvements to your home by the end of the year you could be eligible for Federal Tax Credits. Read up on the improvements that will make a difference on your tax return.

Help a Charity Organization: Give more in 2009 and perhaps start a new habit as you go into 2010. Christmas is a great time of year to serve others. Connect with a charity that needs your help through HandsonNetwork.com. There are 250 action centers in the Hands On Network throughout the world that are getting people involved in charitable activities. And remember, volunteering is free.

As a record number of people default on their mortgages and others find themselves unable to pay their credit card bills, more Americans are watching their credit scores take a big plunge. As credit scores drop, the number of scammers making credit repair promises is on the rise. They’ll take your money and leave you with little improvement, according to the Federal Trade Commission. The government laid out some of the most common credit repair scams. Here’s how to tell if a company is making promises that are too good to be true:

* The company tells you not to try to make contact with any of the three major credit reporting companies yourself, something the FTC recommends doing.
* The company asks for upfront payment before offering any real solution. In other words– they want your money before they do any work towards repairing your credit. According to the FTC, under the Credit Repair Organizations Act, this is illegal. Credit repair companies cannot require you to pay until they have completed the services you are hiring them for.
* The company never tells you your rights and fails to point out certain services that you can easily do for free by yourself without their help.
* The company makes false promises to get rid of all or most of the negative credit data on your credit report.
* The company tries to get you to apply for an Employer Identification Number to use instead of your Social Security number as a way to create a “new” credit identity and thus eliminating the need for your old credit report. This is illegal and could get you in big trouble with the FTC.
* The company tells you to dispute everything on your credit report– even if it’s true and accurate.
* The company claims they have a relationship with the credit bureaus that can eliminate your bad credit. The FTC warns the system doesn’t work this way.
* You are asked to call a 900 number for help. You’ll end up with a big phone bill and the company will make money without offering a service.

It may be best to follow the FTC’s guidelines for repairing your credit yourself. Because remember– just like when you get help from a tax preparer to fill out your 1040s– you are responsible for the work they do which could be illegal. Keep in mind that lying on a loan or credit application, misrepresenting your Social Security number and getting an Employer Identification Number from the IRS under false pretenses is a federal crime. Doing any of these activities could cause you to be charged for mail or wire fraud. That’s because using the mail, telephone or Internet to give false information is a crime.

I have to admit that I am just so excited to have found all of these websites in magazines that I regularly read. I’m always looking for more resources when it comes to saving money. Here is the second list of sites from Woman’s Day magazine.

Lynda: If you need some extra training in programs such as Photoshop, Dreamweaver, Office and the basics on photography or web design, this is a great place to start. The Online Training Library helps you keep your skills current and starts at $25 per month. Last month, they announced a partnership with Microsoft to be a training partner for Office 2008.

BigHugeLabs: Are you interested in photography? This site helps you do fun stuff with your photos, such as create posters, photo collages, special effects, jigsaw puzzles and magazine covers.

Dafont: Let’s say you’re working on a project and need to download a cool font quickly. There are more than 9,000 fonts to choose from and it’s free!

Fix It Club: Sometimes I get in a jam and wish I knew how to fix something around the house. Well, look no further. The Fix It Club offers free repair help for things from appliances to electronics and apparel to exercise equipment.

Budget Simple: Budgeting your money can be tricky and this website it designed to help for free. Budget Simple offers software to keep track of monthly spending and current income and expenses.

Annual Credit Report: This credit report is free and it’s available once a year. The site works with three nationwide consumer credit reporting companies. Reviewing your credit regularly is important and this helps you do it at no cost.

Dinky Town: Looking for financial calculators? You can calculate just about anything, such as mortgages, loans, automobiles, retirements, personal finances, credit card uses and savings.

Bloomberg: Need more financial calculators? Bloomberg.com helps you figure out how to pay off your car loan, convert currency, check out your investments and mortgage.

Discover America: This is the official travel and tourism website of the U.S. It can help you find great deals to just about anywhere and offers information about each state. It can also put you in touch with a travel specialist to help you book the trip.

Mouse Savers: If you love Disney World, this is the place to go for savings on everything Disney. You can get park and cruise discounts, save on shows, hotels and even books, movies and music.

As we enter the second year of The Great Credit Crisis, loans continue to be tough to come by and lenders are aggressively slashing credit lines and raising rates on existing borrowers who exhibit just a mere whiff of financial trouble. This makes actively managing your credit profile more important than ever. Just as you get your annual physical from the doctor (you do get your annual physical, right?), you need to make a credit check-up part of your yearly routine as well to make sure that you have access to the credit you may need and at the lowest possible rates.

We’ve discussed previously that if you are about to apply for a mortgage or loan why it makes sense to purchase access to your credit reports and scores, but for the rest of us there are some tremendously useful free resources that can help you stay on top of your credit health.

First, everyone should start with a visit to AnnualCreditReport.com which is where you can obtain truly free copies of your credit reports once every twelve months. These reports are notoriously fraught with errors and inaccuracies that can prove to be very costly, so scour them for mistakes that could damage your credit.

Next, head over to Quizzle where you can obtain a free estimate of your credit score. As you may know, there are a variety of credit (or FICO) score calculations, so the number you see here may not match the numbers that lenders are using to evaluate your credit. However, Quizzle recently updated its estimation methods to more closely track the scores used by many lenders and I found that it was within a few points of my “official” credit score. Plus, an estimate is likely good enough for your annual check-up, so you can save the $16 that FICO charges to show you its calculation of your score.

With this information in hand, check out the very useful Credit Report Card from Credit.com. It breaks down the different components of your credit score, assigns you a letter grade to each and provides specific recommendations on what you can do to improve your standing for each facet of your score.

Finally, to see how valuable your annual credit check-up can be, try out this very illuminating credit cost calculator from credit repair firm Lexington Law:

Whether you are approaching retirement or still have a way to go, an article from CNNMoney is something everyone should pay attention to. Retirement is going to happen faster than you think and there are ways to help keep you from running out of cash. According to the article,  you need a variety of investments that will give you stable income, protection from falling markets and ways to get cash if needed for emergencies etc.

Here are some strategies to help:

1. Traditional Stock and Bond Portfolios are one that may be viable if you have enough income from social security and pensions for basic expenses. For this one, you invest in diverse stocks, bonds and cash. CNNMoney says you pull out money as you need it with a 4 percent annual withdrawal and then increasing the dollars by the inflation rate. This can help you make your income last 30 years.

2. Stocks, Bonds and Immediate Annuity is the second strategy is for those who need additional income for basic expenses than they’ll get with social security and pensions. This will require investing your savings in a lifetime immediate annuity. This option will give you longer income security.

3. Number 1 and 2 plus a variable annuity is the third idea. This one can work if you want more access to your savings than the first two options. You’ll need to invest some of your savings in an immediate annuity. You choose the investments and you can have access to the account when needed. The article says it’s more flexible than an immediate annuity.

CNNMoney has a quiz “Will You Be Ready For Retirement.” Although I’m a bit younger than the age groups that you click on, I’m on my way, but need to kick my planning up a notch. When taking a look at the article, you can also check out their Ultimate Guide to Retirement for information on 401(k)s, IRAs, estate planning, social security and many more.

For more details with graphics and advice click on the article link above.

Time for a pop quiz. How many people live paycheck to paycheck? If you guessed 61% of the population then you win. That’s according to a new survey from Careerbuilder.com. The study questioned 4,400 workers nationwide and found that six out of ten people always or usually live for payday in order to survive financially. That’s up from 49% compared to 2008 and 43% in 2007.

Don’t think those people living paycheck to paycheck are making small salaries. Three out of ten people living from payday to payday make $100,000 or more. That’s up from 21% back in 2008. In order to make ends meet, 21% of those surveyed say they’ve reduced 401(k) contributions or lowered the amount they’re stashing in savings. Even 23% of those earning six figures have dropped their contributions to retirement accounts.

Not only are people reducing their retirement savings, some aren’t saving at all. Thirty-six percent of those polled aren’t participating in any retirement programs. That’s five percent more than in 2008. Thirty-three percent of workers don’t save anything each month. Another 30% set aside $100 or less. And 16% save less than $50.

If you’re one of the six in ten people estimated to be living paycheck to paycheck, there are ways to stop the trend.

Boost Earnings: This could mean asking for a raise or it could mean getting a part-time job. Think outside of the box. Is there a hobby you can turn into a money-making opportunity? Do you have room for a roommate?

Reduce Spending: Get serious with cutting your expenses. Get rid of anything that’s not essential. This will give more room in your paycheck to start setting aside money in an emergency fund or a savings account.

Live By a Budget: Take time to write out a real budget. Putting it down on paper will help you stick to it. Give yourself a couple of months to get good at it. Make sure you have a portion or your paycheck going to savings.

I recently came across an interesting website that happened to be quite an eye opener. The Center for Economic and Entrepreneurial Literacy’s website Econ4U has some great stuff on it to help teach others about personal finance and economics. In August, the group, a non-profit dedicated to financial education, realized that most college students can’t answer simple questions about their finances when it conducted a survey of 500 American students.

The findings were:

APR Basics 44 percent didn’t know the APR of their credit card and more than 80 percent didn’t grasp how long it would take to pay it off.

Balancing a Checkbook 54 percent have overdrawn their bank account in the past and didn’t understand the consequences of bouncing a check.

Credit Dependency 64 percent of college students have one or more credit cards and 61 percent of them already have credit card debt.

But it wasn’t all bad. About 60 percent said they keep a budget, 92 percent understand supply and demand and they had positive thoughts about paying off their student loans within 10 years. Take a look at the complete results of the survey.

When it comes to the average American, the group found that only 47 percent know what the Dow Jones Industrial Index is. Also, just 57 percent said their credit scores were the most important thing when trying to get a loan and 48 percent understood the advantages of investing in an IRA.

Another eye opener for me was when I clicked on the “Quizzes” tab. The site has several quizzes to help you see if you understand personal finance and investing. I took the 20-question quiz that covers several areas and realized that I don’t know as much as I thought I did. They also have specific quizzes on credit card debt, company costs, credit ratings, entrepreneurship, wages/benefits, home ownership, investing and savings.

The site also helps to educate you on topics such as writing wills, information on mutual funds, car loans, mortgages, student loans and many others. Check it out. Your quiz scores might surprise you.

Ever wonder how to file for bankruptcy? Curious about what you should do if your identity gets hacked? From the basics like filing a consumer complaint to the terribly difficult job of planning a funeral, the government has produced a free guide to help you through it all. It’s called the 2009 Consumer Action Handbook and you can order one completely free of charge right now. The guide even comes in Spanish and they’ve also set up a way to order more than ten copies at a time if you’d like to hand them out at your church or use them as lame stocking stuffers.

Once you look over your copy of the 2009 Consumer Action Handbook, let them know what you think by taking this short survey. Were there any questions left unanswered? Did a section seem confusing? Let them know so they can make the next version better.

If you don’t want to order the handbook, just check out ConsumerAction.gov for the same information. They’ve got tips and advice on tons of consumer issues including:

* Buying a Car
* Purchasing a Home
* Preventing Your Identity From Getting Stolen
* How to File a Consumer Complaint
* Handling Debt
* Choosing a Doctor
* Resolving Air Travel Problems
* How to Avoid Investment Fraud

My husband and I have USAA insurance and they send out magazines with lots of financial tips. Their summer issue discussed a topic that many are probably doing and that’s trying to get their hands on some fast cash. The article outlines safe ways to get cash and warnings that you need to be aware of.

First are the things that are reliable and feasible ways to earn more money. The “Where To Get Money Now,” article discusses cutting your budget, using emergency funds, getting a second job, downgrading or selling a car, opening a Certificate of Deposit, suspending college contributions, spending your severance pay wisely and selling stuff. When it comes to emergency funds, experts point out that storing away three to six months of living expenses is smart.  Also, CDs gives you a guaranteed return in terms within a year or two.

Second are those you need to be cautious about. Selling your stocks or taxable investments that lost their value may make sense or asking for gifts to help you out could also be an option. This year, according to the article, the government allows individuals to give up to $13,000 in cash or property to someone without having to pay gift taxes. There is always the option of asking for a loan, but make sure it won’t cause any problems with your relationship with family or friends. How about liquidating a U.S. Savings Bank? Well, the interest is taxable so check with an expert first. For more information on that check out Treasury Direct. The site Prosper.com pairs borrowers with lenders, but if your credit score is low you might not be eligible. Another idea is taking out a 401(k) loan, however, make sure you know the rules of the IRS. The loan amount usually has to be the lesser of $50,000 or 50 percent of the account balance.

As for the third group, though they may be enticing, the article says to steer clear. Don’t dip into your IRA. If you are under the age of 59 and a half, the penalty is having to pay out 10 percent. Using credit card cash advances is a bad idea, says USAA. You’ll have to pay a large fee and watch out for the interest you’ll be charged until it’s paid off. Another thing you might want to stay away from is borrowing against your life insurance. The article says it should definitely be a last resort. Finally, is taking a payday loan – “bad, bad idea” says USAA.  The interest rates and fees can be enormous.

This summer MSN Money shared an inspiring story about Angela Logan, a single mother of three sons who had fallen in financial trouble. She received a foreclosure notice back in January and at the end of July faced a deadline to pay more than $2500 to her mortgage lender. Angela got to work in the kitchen. Her idea was to sell 100 homemade “mortgage apple cakes” for $40 each. Orders skyrocketed.

The first week Angela took in 500 orders from around the world on her website, . maccakes.com. In order to stay in her home Angela was required to make two more $2500 payments by October 1. The article reported that a health officer had warned Logan that it was against state law to use her home’s kitchen to manufacturer food commercially. But a local Hilton hotel allowed Logan to use their kitchen to produce ten cakes at a time. I think it’s safe to say Angela had made her goal.

Her orders are now being fulfilled by BakeMeaWish.com. Not only that, but according to Bake Me a Wish, 5% of every Mortgage Apple Cake order will be donated to GreenPath Debt Solutions. The nearly 50-year-old non-profit consumer credit counseling service helps people resolve financial problems, achieve financial goals and get relief from debt. Each Mortgage Apple Cake is $44.99 and is topped with rich, butter cream and cream cheese frosting.

It’s Dave Ramsey’s first baby step and for a few more days you can win a fully-funded emergency fund. Dave is giving away nine emergency funds worth $999 until September 18, 2009. There’s a new keyword each day which you need to enter the $999 Giveaway. Find the keyword on Dave’s website.

Besides entering the contest you can also take advantage of two other offers from Dave Ramsey. First of all, all of Dave’s books, CDs and DVDs in his online bookstore is just $9.99. You’ll also have a chance to sign up for Dave’s Mobile Money Makeover. Or you can sign up right now by texting “DAVE” to “99158″. You’ll receive four or five text messages each month that include news, updates, tips and offers from Dave Ramsey. The service is free, but standard text messaging rates apply.

In honor of Dave’s $999 Giveaway, here are some ways you can earn your own fully funded emergency fund:
1. Hold a yard sale (Dave’s favorite suggestion)
2. Sell stuff on Craigslist
3. Take a few odd jobs in the evenings and on weekends
4. Turn a hobby into extra cash
5. Sell some plasma
6. Take in a roommate
7. Take clothes or furniture to a consignment shop
8. Ask friends and family for cash instead of birthday gifts
9. Take a part-time job
10. Baby-sit for friends or family
11. Sell coupons on Ebay
12. Take paid surveys online
13. Sign up for a focus group
14. Become a secret shopper
15. Ask your boss for overtime
16. Cut memberships
17. Cancel non-essential services
18. Sell CDs and DVDs to a used music and movie store

Have other ideas? Let us know what you did to start your emergency fund.

These certainly are very tumultuous times, aren’t they? The Dow Jones Industrial Average, S&P 500, and NASDAQ are all around jumped all around. It seemed as though the stock market set single day loss records followed by single day gain records almost every single week! It was a very difficult period for anyone who had any money in the stock market. The market uncertainty, coupled with the discovery of the largest Ponzi scheme ever perpetrated by one of the most trusted and respect names on Wall Street (and since then, half a dozen more), was enough to cause any sane person to dump all their stock market investments and run for the hills.

Well, if you’re going to do that, you might as well know what your options are right? I personally don’t think you should dump everything but if you are looking for some really safe investments, you should consider one of these five options:

High-Yield Savings Accounts

You will no doubt recognize the first and easiest “safe investment” on the list – the high yield savings account. Online savings accounts are nice because they offer a very competitive rate of return while giving you access to your funds. If you have an emergency fund, it pays to have it saved into a high yield savings account because that will maximize your interest earnings while you protect yourself from a potential disaster. You open a savings account at a bank and the funds are FDIC insured.

If you’re uncomfortable with an online bank, consider an high yield savings account at a bank with a brick & mortar branch near you. This gives you the high return of an online bank but access to a real live human being should you need to talk to one. You can also electronically link your online account to your brick & mortar checking account to access your funds almost instantaneously.

Certificates of Deposit

If you have funds that you won’t need for a period of time, consider certificates of deposit. A CD will give you a fixed rate of return, unlike a savings account where the rate can fluctuate, for a specified period of time, known as the CD’s term. When the CD’s term ends (matures), you get your funds back. Should you need your money before the CD matures, you can often pay a small penalty and close your CD prematurely. You trade flexibility for a higher return. If you have an emergency fund, you might want to consider using a CD ladder to help maximize earnings. You open a CD at a bank and the funds are FDIC insured.

Reward Checking Accounts

Reward checking accounts are a special type of checking account some banks offer. You get a relatively high interest rate on your funds as long as you satisfy certain requirements. A common requirement is that you use the bank’s debit card at least ten times a month. Another common requirement is that you have at least one ACH transfer or direct deposit transfer each month. These requirements generate fees for the bank that they use to help pay for the high rate. If you fail to satisfy the requirements of the reward checking account, you earn a nominal interest rate. Like the two other types of bank accounts, your funds are protected by FDIC insurance.

Treasury Securities & Bonds

When the government needs to borrow money, it has a variety of options at its disposal in the sale of Treasury securities and bonds. Treasury products come in two varieties, securities and bonds. Securities are products that you can buy and trade on the secondary market, such as Treasury Inflation-Protected Securities (TIPS). Bonds are products that you can’t buy and trade on the secondary market, you buy them directly from the Treasury, they are non-transferable, and you must redeem them with the Treasury. The end result is that you have a 100% safe investment backed by the full faith and credit of the United States Government and one that might have special tax exempt status. If you want a very in-depth look at the products, as well as how to buy and sell/redeem them, I invite you to check out this post about the Basics of Treasury Securities and Bonds.

Municipal Bonds

Municipal bonds are like the little brother of Treasury Bonds. When a local government needs to raise money, like for a hospital, they will issue municipal bonds that consumer can purchase. These bonds are backed by the full faith and credit of your local government, so the guarantee is less ironclad, but they are still pretty safe. Municipal bonds are nice in that they are federal income tax exempt and, if you live in the municipality, local and state tax free as well. The downsides are that you often need a minimum of $5,000 and it may be difficult to sell your bond if you don’t want to hold it to maturity. If those two downsides aren’t a problem for you municipal bonds are a good safe choice as well.

Some would argue that now, after the market has fallen so dramatically, is the best time to buy. Otherwise would say that this is just the beginning and it’ll only get worse. Regardless of what you believe, some part of your assets, such as your emergency fund, should be in a safe investment where the principal is protected. I hope that one of the five options I’ve listed above will suit your needs and give you a bit of stability in this unstable time.

This is a guest post by Jim Wang, who regularly writes about personal finance at Bargaineering.com.

I recently came across a website that has been a source for many news organizations this month, such as CBS News, The Wall Street Journal, The Atlanta-Journal Constitution, Fox News, CNN and Bloomberg. As they discuss the ins and outs of credit card use, these sources have been quoting Billshrink to help consumers understand the new government credit card lending changes and they have been using the website to offer advice to consumers.

Billshrink recently took a look at several credit card companies and found that people are paying way more for purchase rates and balance transfers. They are up 20 percent from January to July of this year. The study found that American Express and Bank of America kept their rates basically the same while Capital One, CitiBank, Discover and U.S. Bank were the ones whose rates changed the most.

These findings corresponded to the Credit CARD (Card Accountability Responsibility and Disclosure) Act that was implemented August 20. It states that requires credit card companies to provide cardholders to a 45-day notice of changes to the annual percentage rates and to mail the bills 21 days before the due dates.

Billshrink is free and offers recommendations and tools to help you save money on your bills. All you do is enter information about your expenses, such as gas, credit card and telephone bills. The site tracks market changes and alerts you when better savings comes along. The founders of the site realize that there are so many confusing options when it comes to cell phone and credit cards and want to help consumers save the most money they can. They compare what plans you have versus what the companies are offering.

I have the iPhone and found a tab on Billshrink that shows you the detailed specs, pros and cons and reviews of the product. I can also look at plans for my service. I know I occasionally have trouble picking the right plans or understanding what I’m getting. Looks like this site may be beneficial in relieving some of that confusion.

Last year I borrowed a $3,000 cash advance from my credit card. I’ve now paid over $800 in interest on this loan yet haven’t paid down the principal balance by one single dime.

My card charges a cash advance rate of 24.9% while my rate on purchases is a less shocking 14.9%. Though I pay more than the minimum due each month and am making steady progress in paying down my debts, my card’s terms dictate that payments are applied to the *lowest* rate portion of my balance first. Only when that is paid off will I start whittling down the burdensome cash advance portion of my balance. I think it will take me another year — and another $800 in interest — to get to this point. (Ironically, though my balance and interest costs are steadily declining, this payment scheme actually causes my effective interest rate to GO UP each and every month!)

Congress has taken notice of how onerous this on on consumers and passed the Credit Card Holders’ Bill of Rights this past April. When in takes effect on July 1, 2010 banks will have to either apply payments to the highest rate portion of your balance or prorate your payment proportionally across all of your balances. This may provide me with a small bit of relief, though the bigger lesson learned is that this is a costly situation I should have striven harder to avoid.

When I took the cash advance out, I felt that I desperately needed the money. Now that I know how high the cost of these funds has become, I should have taken a hard look at what I needed the money for and whether it was really a ‘must have’. I also should have evaluated the costs of making late payments on the bills I had due at that time versus the nearly $2,000 I will ultimately spend for a $3,000 loan. Though late fees certainly seemed like a painful blow at that time, they pale in comparison to what I’m paying to avoid them.

Finally, if I had no choice but to take out a cash advance, I should have used a credit card that I could devote solely to this purpose. This would have allowed me to focus my repayment efforts on this high rate loan and every dollar of principal repayment would have immediately brought my balance down, instead of chipping away at the lower cost purchase balance and costing me a fortune.

Time for an attitude check– how are you feeling about your money, your finances and the economy? If you’re suddenly feeling a rush of negative thoughts and emotions, your attitude may not be as chipper as it once was. That negative attitude could be the exact thing that’s keeping you from changing your financial situation. Need an example? Here are five.

You feel stuck in your job. If you feel like you’ve hit a wall with your current employer, take a step back. Make a list of the positive things about your position. Focus on the fact that it’s a blessing to have work when so many are without a job. Still want to get out of your current work situation? Make a plan to do it. Start the job hunt or work on launching your own business. Taking small steps towards your big goal will make it seem more achievable. Set a time table and get going!

You’re giving up on paying off debt. If you’re only paying the minimum it’s tough to get traction on your debt. Soon you’ll get burnt out because you won’t feel like you’re making much progress. Try out the debt snowball and attack your debt with intensity!

Money doesn’t really matter. Author Anna Lappe once said, “Every time you spend money, you’re casting a vote for the kind of world you want.” If you continue your nonchalant attitude about money you probably won’t have much.

Your (neighbor, co-worker, brother, mechanic) always seems to have more than you do. Constantly feeling jealous or envious of others? That attitude may be holding you back from achieving more. If you’re wasting energy on comparing yourself with others, you’ll miss God’s special and unique calling for you.

There’s way more month and the end of the money. Does your money never seem to go far enough? Maybe you need to have a more focused attitude when it comes to money. Live by a written budget and work hard to stick to it. Your new drive will give you a sense of ownership when it comes to your money, rather than feeling like it owns you.

The experts say there is good debt and there is bad debt and there are consumers that will say I’m in no debt at all. Facing debt is difficult. For many, taking the first step is the most difficult in that actually admitting you are in trouble is harder than taking the steps necessary to correct it.

Whether you are certain you are on the good side of debt or unsure of where you actually stand financially, there is no time like the present to reevaluate your financial situation. When debt isn’t far off, there are some general signs that will proceed it. If you sit down and look at your situation, you may find there are some classic signs appearing in your own life.

When it comes to debt, take a good look and see if you see any of these signs in your own financial life. If you do, make a commitment now to regaining control of your money and most importantly, admit that you actually do have a problem. Here are some signs of debt danger:

You Have No Clue Where You Stand
Unless you are independently wealthy, money management should be a top priority. If you have no idea how much you owe or who you owe it to, you are already in trouble.

You Are Late Most of the Time
Even if you aren’t late on bills and payments all of the time, you might be headed down the wrong road still of you are late at any time. Take a look at why you are late. Do you not have the money before the due dates of your bills? If so, it might be time to look for supplemental income to help you catch up. If you are not making enough money, you need to find new sources of income or consider getting a better paying job if you have no time to take on a second one. If you are late because you forgot the due dates, then you may need a refresher course in money management. Get a calendar for bills only and start tracking the due dates for all of your bills each month with a notation on the days prior to ensure your payment makes it before the due date. This will eliminate wasted spending on late fees and penalties.

You Never Pay A Dollar More than the Minimum
When you spend on credit cards, the financially-savvy way is to spend only what you have to back up in cash, meaning you should already have the money to cover your purchases. At the end of the billing cycle, you should have all of the cash to cover the balance and remit a check for the full amount. If you find you are not even close to doing that each month and are only able to squeeze the minimum amount from your budget, you are headed for disaster, as your interest rates and penalties are sure to rise, adding to your balance due and leaving you to face years of payments to eliminate the debt.

Your Credit Card Has Become An Extension of Your Income
If you find that you now have to use your credit card for daily living expenses such as groceries, gas, and other bill payments just to survive, you are headed for financial disaster. Credit cards are not meant to be an extension of your income. You should not make purchases that you can’t afford in cash. Not having enough money to meet your daily needs means you don’t have enough money in general. Using credit cards out of desperation will only make you sink deeper in debt. This is especially true when you find you have taken cash advances from your credit card to meet your needs because of the often excessively high interest charges.

Your Family Life Suffers Because of Cash
If you find that you and your spouse argue a lot over money and the family finances, you may consider this to be a red flag in your financial life. Being defensive and frustrated about the lack of money much of the time means there is already trouble. It is important to work as a team to handle the finances for the family. Get the kids involved by teaching them early about spending and the differences between needs and wants.

Tisha Tolar is a writer for DebtFreeDestiny.com, where she provides information about credit card consolidation, debt relief and how to get out of debt.

Sometimes we all need to get cash in a hurry (or at least think we do) for that must-have purchase, can’t miss investment or incredible weekend out with our friends. If your wallet is empty, your credit cards are at the limit, and your bank account is running dry, there are still plenty of ways to easily access the money you need, but the cost is just never, ever worth it. Easy cash is usually easy for a reason: an unconscionably high price. Here are some of the dumbest ways you can get some quick cash and much smarter alternatives to each:

Payday Loans. In some communities, ads and storefronts offering these loans are seemingly everwhere. They promise you up to $1,500 cash in as little as one hour and with no credit check. The fees on these loans range from $10 to $30 per $100 borrowed, and repayment is usually due within two weeks. Do the math on a $300 loan with a fee of $30 per $100 borrowed: To get a little cash for two weeks, you’ll need to repay $390 which equates to 30% simple interest or a whopping 780% annual percentage rate!

Alternative: With all of these choices, ask yourself if you really need the money right now. If you absolutely must have it, try to borrow from friends or family.

Credit Card Cash Advance. Your credit card may make easy cash just a few minutes away and as close as any ATM machine. Avoid the temptation! Rates on cash advances are usually 10% – 12% higher than they are for regular credit card purchases, and you could incur extra fees as well. Plus, if you are paying down a credit card balance over time, the highest rate charges are considered to be repaid last, which means that this high interest debt could hang around for months or years to come!

Apply for a Person-to-Person Loan: Social lending is a rapidly growing market for personal loans where individuals lend money to each other. You provide a description about what you need the money for and how you will repay it, and individuals chip in as little as $25 each to fund your loan. A host of online lending networks handle all of the administration and help match lenders and borrowers.

Borrow from a Pawn Shop. If you have something of value, like jewelry or electronics, a pawn shop will provide you with a quick loan for as little as $20 to as much as several thousand dollars. If you don’t pay back your loan in a set period (often 90 days) the pawn shop will sell your collateral to fulfill your debt. Sounds simple, but it’s rarely a good deal for the consumer. Interest rates are once again quite high, with an annual percentage rate of up to 240% allowed in many states, and the value offered for your goods is usually just 50% – 70% of what the pawn shop thinks they can sell it for should you not return to claim your item.

Alternative: Try to sell your items for more yourself via a garage sale, eBay or Craig’s List. Video games or musical instruments you no longer want may sell quite quickly, or try to get cash for that gift card you got for Christmas but still haven’t used!

Cash in Your Retirement Accounts. This is along the lines of the old saying ‘Water, water everywhere, but not a drop to drink!’ You may have good retirement savings but no cash to spend today. Raiding these funds could prove to be quite costly, and not just because you are taking from tomorrow to pay for today. The government provided strong tax incentives to encourage you to save this money and thus makes it tremendously unappealing to borrow from yourself. An early distribution from your IRA is a fully taxable event PLUS you’ll incur a 10% penalty.

Alternative: Take a short term loan from your IRA. Under lesser known rules, you can ‘borrow’ cash from your IRA for up to sixty days, once every twelve months. You are technically doing an IRA rollover, but just rolling the money over to the same account. Be careful though, the IRS shows absolutely no leniency if you miss that sixty day repayment deadline!

It’s hard to find a person not impacted by the economy. And I am no exception. Although my husband and I are blessed to both have small businesses that have been doing very well, we have family members who have experienced the ups and downs of this economy. If you’re wondering how layoffs, the housing slump and drooping retirement accounts could have a positive side, keep reading. Here is a personal look at how some of my loved ones have been impacted by the economy. I’d love to hear how yourfriends and family members have been doing, too.

The Positive

My sister lost her job last summer which could have been a big negative. But it prompted her to start her own business which has turned into a big positive. She’s doing something she loves, living with more freedom, experiencing less stress and enjoying the fruits of a successful small business.

I have several close friends who have been able to buy homes that they wouldn’t have otherwise been able to purchase. One friend bought her first home a few months ago. It was a foreclosure that would have been way out of her price range a few years ago.

The Negative

Some relatives of mine have not been able to afford their mortgage for the last few months. While I don’t know all of the details, it’s likely that the economy had some role in their situation. It looks like they’ll be filing bankruptcy and possibly lose their home.

Many good friends and church members have been laid off this year. They’ve faced unemployment unexpectedly. On the positive side, I have seen them respond with optimism and resilience as they trust God during this tough time.

A Little Bit of Both

My mother founded a no-kill animal rescue program in Iowa. While the economy has forced many people to give up their pets, the outpouring of care and willingness to adopt animals in need has increased significantly.

Another friend’s small business lost several huge clients at once, bringing his income down to a fraction of what it once was. He eventually sold his pricey condo so that he wouldn’t end up losing it in the future. He’s now renting and has a new plan to pay cash for a moderately priced home next year. There’s no denying his life was dramatically changed by the economy and as he experiences the freedom of living debt free it will all have been for the best.

A cancer diagnosis can be a devastating blow to your family, your emotions and your finances. Thankfully there are many organizations offering free medical assistance, free resources and free support for those battling cancer.

Cancer Financial Assistance Coalition: CFAC is a comprehensive listing of available resources to help cancer patients financially. Search by diagnosis, by type or by zip code.

Pretty in Pink: Started in 2004 by a North Carolina doctor, this organization provides financial assistance and free resources to uninsured or underinsured people diagnosed with breast cancer who live in North Carolina.

American Cancer Society: Provides free resources and free wigs through local chapters.

NeedyMeds: Offers free help to those who can not afford their medications for a variety of diseases and illnesses including cancer.

Bristol-Myers Squibb Patient Assistance Foundation: This drug manufacturer offers free pharmaceuticals to those who have no insurance.

Air Charity Network: This organization offers free flights to patients needing transportation for medical treatments.

Arizona Assistance in Health Care: This organization will begin taking applications August 1, 2009. They provide financial assistance with non-medical bills to cancer patients.

CancerCare: This organization offers free professional support services for anyone affected with cancer.