Go to the grocery store and stock up on snacks, breakfast and lunch—eating out 3 meals a day adds up quickly!

The famous restaurant you want to try? Go for lunch or just share appetizers.

Buying a pass for the local transit system (with a map!) saves lots of cash, and lets you see more of the city. mbboepple

Take the train! Amtrak offers great deals on rail passes. Saved me $100+ on my cross country trip. Also great for making stops.

Staying in a place with a kitchen allows you to save on meals during vacation. Great way to test your skills cooking local cuisine.

Traveling in a country's off-season saves on flights, and many tourist attractions are cheaper then too.

Don't order room service! Even going to the hotel restaurant can save you a 20% plus service charge.

Credit card bills must be delivered 21 days before payments are due, and payments must be due on the same day every month. Credit card companies cannot raise your credit card rates without telling you why they are doing so. Additionally, they must reconsider rate increases that have been imposed since January 1, 2009. Penalty fees for late payments are limited to $25 for most consumers. However, if you are late with a payment or are over your credit limit twice within six months, the credit card company can increase your fee to $35 or more. Companies cannot charge a higher penalty fee than the action that resulted in the fee. This means if your monthly minimum payment is $20 and you are late with that payment, your penalty fee should be $20. Additionally, if you go over your credit limit by $5, your penalty fee should be $5. Companies cannot charge you an inactivity fee if you don't use your credit card. Companies must apply any payment above the minimum to the balance with the highest interest rate.

Stay alert for changes your credit card company might be making to counteract this loss of revenue, which could be as high as $390 million in the first year.

Watch out for possible increases in annual fees and balance transfer fees. These fees are not covered under the legislation. Companies could create new fees that aren't on the list of those now regulated. Make sure you read your statements and any other mail from your credit card company carefully. Don't allow yourself to be charged any new fees without knowing it. Keep in mind that none of these new regulations cover interest rate increases, other than notifying the consumer of changes. So while you may pay lower penalties, those penalties are still likely to have an effect on your interest rates.Many credit card companies began changing their rates while they were still allowed to do so in anticipation of these changes going into effect (since February, changes have not been allowed on accounts that were being paid on time). So make sure you know what your annual interest rates are now

Credit card bills must be delivered 21 days before payments are due, and payments must be due on the same day every month. Credit card companies cannot raise your credit card rates without telling you why they are doing so. Additionally, they must reconsider rate increases that have been imposed since January 1, 2009. Penalty fees for late payments are limited to $25 for most consumers. However, if you are late with a payment or are over your credit limit twice within six months, the credit card company can increase your fee to $35 or more. Companies cannot charge a higher penalty fee than the action that resulted in the fee. This means if your monthly minimum payment is $20 and you are late with that payment, your penalty fee should be $20. Additionally, if you go over your credit limit by $5, your penalty fee should be $5. Companies cannot charge you an inactivity fee if you don't use your credit card. Companies must apply any payment above the minimum to the balance with the highest interest rate.

Stay alert for changes your credit card company might be making to counteract this loss of revenue, which could be as high as $390 million in the first year.

Watch out for possible increases in annual fees and balance transfer fees. These fees are not covered under the legislation. Companies could create new fees that aren't on the list of those now regulated. Make sure you read your statements and any other mail from your credit card company carefully. Don't allow yourself to be charged any new fees without knowing it. Keep in mind that none of these new regulations cover interest rate increases, other than notifying the consumer of changes. So while you may pay lower penalties, those penalties are still likely to have an effect on your interest rates.Many credit card companies began changing their rates while they were still allowed to do so in anticipation of these changes going into effect (since February, changes have not been allowed on accounts that were being paid on time). So make sure you know what your annual interest rates are now

Financial Reform and What it Means to You

You must opt-in to your bank's plan before your bank can apply its standard overdraft practice and fee. If you do not opt-in, or specifically opt-out, your debit card will be denied if you attempt to make any purchases that your account cannot fully cover. The new rules require flexibility from your bank—you can opt-in or opt-out at any time. The new rules do not cover checks or automatic bill paying programs. 

So, what do you need to do? Well, that depends. If you have frequently been charged overdraft fees in the past, these changes could be the perfect opportunity for you to look at your budget and reassess where and when your funds are coming into and going out of your account. Opting-out of your bank's plan will ensure that you aren't spending more than you have, and make you aware of it if you try to do so.

If you don't often get into a situation where you are charged an overdraft fee, you may choose to opt-in to your bank's plan to cover your purchases on the rare occasion you try to make a purchase you can't cover. But be sure you have thought through whether the fee is worth it. It may be advisable to put down a pending purchase and instead wait until payday, or transfer the necessary funds into your account.

Either way, make sure you understand all of the options you have, and all the fees your bank may charge. Contact your bank if you have questions about their overdraft plan and fees.

Are you giving gifts this winter and, if so, how many? Sit down now and make a list of gifts you need to buy and what each person might like. How much can and should you spend for each gift? If you can determine your gift list, you can determine how much you need to save from now until December. Putting aside $5, $10 or $25 each paycheck will add up quickly and you won't have to worry about how to pay for
gifts in December.

Are there any sales to take advantage of this summer or fall? If you know what gifts you are planning to buy, you can take your time to look for, or wait for, sales for your purchases. There are usually sales for Labor Day, Columbus Day and Veterans Day. Extra bonus—you also won't have to deal with the holiday crowds and lines when shopping in December.

Are there any gifts you would like to give that you can make yourself? Planning this far in advance for baked goods doesn't work well but other handmade gifts are usually appreciated and appropriate. Start knitting someone a scarf now and you will have plenty of time to finish before winter.

Does anyone on your list need more time or help to tackle a big project? Time and assistance on projects like organizing the attic or cleaning out the basement could be a great gift you may not have thought of. Time may be money, but sometimes it is easier to find the time for a project than the money for a large purchase.

No matter what your plans are for the holidays, taking steps now will help you stay within your budget later.

Credit reports and scores: Before applying for a loan, consumers will be able to request a copy of their credit report and an explanation of how the rating was determined. If turned down for a loan, the new bill grants the right to see how the decision was made. Home loans: The law establishes new minimum underwriting standards for home mortgages and outlaws both payments to loan brokers for steering consumers toward high-priced loans and pre-payment penalties for paying off a mortgage early. Lenders will also be required to ensure borrowers are able to repay home loans by verifying income, credit history and employment. FDIC: The increase in Federal Deposit Insurance Corporation (FDIC) insurance coverage from $100,000 to $250,000, which was changed almost two years ago, is now permanent (the increase was previously set to expire in 2013). This means accounts at covered financial institutions (banks, credit unions, etc.) are protected up to $250,000 per person, retroactive to January 1, 2008. SEC: The Securities and Exchange Commission must write regulations for broker dealers requiring them to act in the best interest of their clients. This puts stockbrokers on the same footing as independent advisors—they won't be allowed to have a stake in which stocks are bought and sold by clients.The new law also creates, in the next 12 months, the Bureau of Consumer Financial Protection. This new government entity is designed to create additional protection for consumers of financial products, including unfair credit card rate increases and illegal mortgage lending practices. While the structure and leadership of the new Bureau has not yet been established, many provisions of the new legislation are likely to fall under their jurisdiction.

Stafford Loans in repayment status—2.4 percent, down from 2.48 percent Stafford Loans in school, grace period or deferment status—1.87 percent, down from 1.88 percent PLUS Loans in repayment status—3.27 percent, down from 3.28 percent

For Stafford and PLUS Loans issued on or after July 1, 2006, the interest rates for loans disbursed on or after July 1, 2010, through June 30, 2011, are as follows:

Subsidized Stafford Loans—a fixed 4.5 percent rate, down from 5.6 percent Unsubsidized Stafford Loans—a fixed 6.8 percent rate for the life of the loan PLUS Loan—a fixed 7.9 percent rate for the life of the loan

Remember, borrowers with variable rate federal student loans can lock in the current applicable rate on their loans by consolidating the loans (private loans can't be included in a federal consolidation loan). The interest rate on a federal consolidation loan is a fixed rate that is equal to the weighted average of the current applicable interest rates on the loans being consolidated, rounded to the nearest 1/8th of a point. Borrowers can only consolidate once.

Store Circular: Read the circular from your grocery store, and other stores in your area, to plan what is on sale that you could use to make lunch or dinner this week. If there is a bargain to be had, remember to think about how much space you have to store it, whether it is a 12-pack of paper towels or a few pounds of apples. Coupons: Do you have any coupons you can use? Clipping coupons is a great habit to start—and not just from your grocery store's weekly circular, but in the mail and online. There are many sites that offer coupons. Do a little research to find sites that work for your needs and offer products you use. Shopping List: Make a shopping list before you go to the store, and include quantities for each item. If you need yogurt or oranges, how many do you need? Planning ahead is great, but not if your food will spoil before you use it. Generic and Store-Brands: When you are at the store, remember to look for generic and store-brand items. They are usually less expensive for the same or similar quality product. If you are absolutely married to a specific brand for one item you need, how about generic products for other items?

Always remember to go to the store after you have eaten—you aren't going to be nearly as tempted by things that aren't on your list if you aren't hungry.

A programmable thermostat on a central air conditioner unit and a timer on a window unit are the best ways to control when your air conditioner kicks in so you don't waste energy and cooling when you aren't home and when it isn't needed. And don't forget to change the filter—all units are more efficient when clean.

If you haven't bought an air conditioning unit yet but are planning too, remember to look for Energy Star brands. While these may cost a little more when you are purchasing them, you will save money on your electric bill, and can feel good about going green while you are at it. Make sure you get the right unit for the size of the space you are cooling—too big or too small will waste money and energy.

There are also many little ways to beat the heat this summer. Take advantage of any public pools in your area, which are usually inexpensive or free. Remember to only turn on the lights you need, limit your time at the oven and stove and only keep your computer on when you are using it. All of these add to the heat being generated in your home. Even a cool shower before going to bed can help you beat the heat and rely less on your air conditioning.

Improve your gas mileage by driving the speed limit.  Each vehicle hits their optimal fuel economy at different speed but fuel ecomomy generally decreases at speeds above 60 mph.  Using cruise control will help regulate you speed and save gas on longer trips.  Accelerating slowly and braking over a longer distance is much more efficient and considered one of the best ways to improve fuel economy.

Prepare for the trip ahead of time.  Make sure your tires are at the right pressure level which will help you save gas and avoid car trouble.  Try to pack light and fit your luggage into the trunk as pulling a trailer or using a roof rack can significantly decrease your gas mileage.  Bring snacks with you instead of stoping at convenient stores where prices can be much higher on most items.

Consider whether or not you want overdraft protection.
Starting in July, new federal regulations will prohibit banks from allowing customers to overdraft debit cards unless the customer specifcally opts into an overdraft plan. Consider whether you would rather have your card declined or whether you want to pay an overdraft fee. Fees can range between banks, but some fees are $30 or more. Ask if your bank will allow you to link your checking account to a savings account in case you do overdraft, rather than charging you the fee.

Know the difference when you choose "credit" or "debit."
These two options are very different and you should know the difference when you use your debit card to pay for your purchases. If you choose debit and enter your pin, the transaction usually happens almost immediately and deducts the money from your account. If you choose credit, the purchase may take several days to actually hit your account, which may make you think that you have more money in your account than you actually do.

Use a credit card for large purchases.
Credit cards can be useful to keep around, especially for large purchases. They offer more consumer protection for disputes or refunds. For instance, if you disputed a charge that was higher than it should be, credit cards have the ability to wipe the charge off your account. It would be more difficult to recover that money from a purchase with a debit card. Federal law says that you must notify your bank within two days of noticing a problem on your debit card.

Consider birthdays and holidays. Plan ahead for upcoming events in your life for which you might need to buy a gift, such as birthdays or even year-end holidays. Buying these presents at sale prices will make your recipients and your budget happy! Think twice about each purchase. Is this something you really need or are you only purchasing it because it has a sale sticker on it? On sale is still too expensive if you don't need it. Check out the ads before you go shopping. If you need to cut coupons, make sure you do it in advance and know what you want to buy at each store. Avoid putting purchases on your credit card. Some cards do offer benefits and rewards, but if you cannot pay off your card at the end of the month, the interest rates will negate the cheaper price of whatever you purchased.

Are you graduating or do you know someone who is graduating this May? Graduating and transitioning to a career is exciting, but can also be a challenging time. There are things you can do to prepare yourself for the transition and to help alleviate potential confusion or unease.
• If you are entering the workforce, make sure you evaluate a job offer thoroughly before accepting it. You should consider all aspects of the position, such as if you would need to travel, what benefits are offered, whether the salary is sufficient and whether you would need to relocate.
• According to the National Center for Education Statistics, over 50 percent of full-time undergraduates will finish school with student loans. If you are one of those students or are taking out loans for graduate school, make sure that you understand your repayment options

If you are a homeowner and have access to your hot water heater, turn down the temperature from 140 degrees to 120 degrees or lower. This can reduce your home heating bill by 6-10 percent. Have a computer at home? Take advantage of your computer's "hibernate" setting when you aren't using it to prevent the computer from wasting energy. Even better, use a surge protector to turn it completely off. Some computer and television models continue to draw energy even if they are turned off.

It may seem trivial, but turn off your lights! Now that days are growing longer and brighter, keep your lights turned off unless you need them. If you leave a room, switch the lights off as you leave. The savings may be slight but can really add up over time. Consider adding a timer or motion sensor to your lights to make it more convenient so you don't even have to think about it.

Visit www.feedthepig.org for more  information.-

• Many banks have a database of companies to choose from when setting up your online bill pay, making the setup process easier. Additionally, you only need to enter a company's information once and it will be saved to your account, as opposed to manually writing checks for each bill.

• Avoid late fees and processing fees by setting up automatic payments. If you know your bill will be the same amount each month, taking advantage of automatic electronic payments will give you one less thing to worry about.

• Paying your bills online reduces the chance for human error and conveniently groups all your bills into a single location, giving you control over every aspect of your bill paying process. Just a few clicks and you're good to go!

• Check to see if the charity is classified as a 501(c)(3) organization by the government (the designation means the organization has been set up for charitable purposes). Click here to search a listing of charities in the U.S.

• Check the Better Business Bureau Web site for information about the charity's mission, compensation, expenses and rating.

• Guidestart.org can also help you find some of the top rated charities and direct links to make donations. You can also check Guidestar for the charity’s most recent Form 990 to calculate what percentage of the charity’s donation go directly to those in need and what percentage goes to overhead. 
 
• Do a little research online to see if there are postings, concerns or adverse ratings about the charity you are considering donating to. A lot of negative comments online could mean the charity is not what they represent themselves to be.

• When in doubt, give to a charity you are familiar with, such as the American Red Cross or your local community foundations or religious organizations. There are a lot of organizations who have already mobilized volunteers in Haiti to help those in need and could use your support.

Don’t let these few extra steps change your mind about making a donation—there are so many easy ways to help out. Even small donations contribute to the effort to help those in need.

The American Recovery and Reinvestment Act of 2009 provided a government subsidy of 65 percent of the cost of COBRA coverage for employees (and their eligible family members) who lost their health insurance coverage due to involuntary termination of employment in 2009. In addition to the subsidy being extended to 15 months, employees who lose their jobs in January or February of 2010 will still be eligible.

For more information on the American Recovery and Reinvestment Act of 2009, visit the U.S. Department of Labor Web site.

Visit the Life Crisis section on the 360 Financial Literacy Web site for additional information on receiving unemployment benefits.

• This year, Congress passed the Making Work Pay credit, which gave every worker a $290 tax credit. The IRS changed the withholding tables to accommodate this new credit so your actual tax liability may not match your withholdings, especially for a married couple. When you check if your withholdings are adequate, make sure you are not underwithholding an amount that could trigger the penalty.

• Check your potential alternative minimum tax (AMT) liability, as the AMT minimums don’t keep pace with inflation. Certain items, such as large medical expenses and large incentive stock options, can be triggers. Consult a tax professional if you think you’ll be subject to an AMT liability. If you've been close to being subject to the AMT in the past, it is critical that you review this before year end as there still may be time to take action.

• If you think you will be in a lower tax bracket in the future, consider delaying deductions. You can delay income by deferring compensation or bonuses and accelerate deductions by paying alimony or medical expenses early, or by pre-paying state income, real estate taxes or making charitable donations.

For other useful tips on taxes year-round, visit the Tax Planning section of the 360 Financial Literacy website.

• Dial back your thermostat 1 degree cooler during the winter season to
 help slash your energy bill.

• Caulk around window frames, door frames and seams on the outside
of the house to keep heat in and cold air out.

• Take advantage of your body's natural heat. Wear sweaters, warm socks
and long pants around the house.

• Use a programmable thermostat to automatically control your home's temperature. It can keep your house cooler during the day and warmer during the evenings. This could save you an average of $180 a year. 

Following these tips can immediately reduce your energy costs. Learn
more Winter Savings Tips.

• Make a list of the dishes you plan to make and the ingredients you will need to buy. Take inventory of your kitchen to see what you already have on hand.

• While some convenience foods at supermarkets can be inexpensive, they may contain unhealthy ingredients. You can still fill your table with tasty homemade goods and save money by creating these items from scratch: pie crust, gravy, biscuits,
stuffing, pies, etc.

• Review the circulars for nearby grocery stores to see which ones have the best prices for your items. Consider shopping at two stores in order to find a wider variety of deals.

• Using canned foods or frozen foods can be inexpensive and sometimes better alternatives to fresh, especially if they’re out of season. Look for foods such as pumpkin, peas, cranberries, strawberries, tomatoes, broccoli and more.

• Invite your friends over and make it a potluck! By asking families to bring 1-2 dishes, it allows everyone to save money and still eat from a wide variety of foods.

The new legislation includes some important changes for those buying a home after it was signed into law. These changes include:

• Higher income limits now apply. The credit is reduced if your modified adjusted gross income (MAGI) exceeds $125,000 ($225,000 if married filing a joint return) and is completely eliminated if your MAGI is $145,000 ($245,000 if
married filing a joint return).

• A credit of up to $8,000 will still apply to qualifying first-time buyers, and a smaller credit of up to $6,500 will now apply to families that have lived in their homes for at least five years and wish to purchase a new home.

• If you (and your spouse, if you're married) have maintained the same principal residence for at least five consecutive years in the eight year period ending at the time you purchase a new principal residence, you could qualify for a credit of up to $6,500 ($3,250 if you're married and file separately).

For more information and to decide if taking advantage of these new rules is for you, visit the White House’s Fact Sheet on the Worker, Homeownership and Business Assistance Act or the U.S. Department of Housing and Urban Development’s Web site for details on the original Housing and Economic Recovery Act.