My Two Dollars

What’s Next With The Credit CARD Act?

On February 22, 2010, the new Credit CARD (Credit Card Accountability, Responsibility, and Disclosure) Act of 2009 went into effect, which essentially provides more transparency and disallows credit card companies from raising interest rates on outstanding balances without due cause. With the new regulations, credit card companies are only allowed to raise interest rates if they give customers 45 days’ notice of the increase, and they must give customers the opportunity to reject the changes. While this certainly is good news, there are a few potential drawbacks and some unanswered questions.

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credit

By David

Tax Savings, Part 1 Of 4: Why You NEED To Contribute To Your 401(k).

This is a guest post from My Financial Objectives. Catch the rest of his four part series at his site!

People are hesitant to start contributing to their 401(k) for many reasons; the current state of the economy, a feeling of youth, the notion that retirement is a long way off, other bills to pay, etc. Whatever the excuse, the benefits a 401(k) offer should make one’s decision to contribute a much greater priority.

This is the first of four posts outlining the four biggest reasons as to why it is so important to contribute to your 401(k). The four main reasons are:

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investments

By David

Frugal Burnout: Fad Or Portent?

Guest post from Abigail who blogs over at I Pick Up Pennies. She and her husband are in debt from health-related expenses, and she talks about getting out of debt on relatively low income.

I’ve seen several articles lately that indicate spending is up. We could take this to mean that the recession is receding, and certainly that is what the media seem to believe. Unfortunately, I don’t think that’s the real cause. I think we’re in a round of frugal burnout. People have been frugal too long (or so they believe), and they simply can’t take it anymore. They start to indulge here and there. The purchases are small, of course, but they will grow exponentially. And the spending is indicative of a big problem: entitlement.

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Frugal

By David

Money Quote Friday – Stupid Enough To Want It Edition.

“To be clever enough to get all the money, one must be stupid enough to want it.” — Gilbert K. Chesterton

I am enjoying reading them myself, so I hope you guys are enjoying the guest posts this week. I have a few more for next week while I finish my visit to California. Have a fantastic weekend!

quotes

By David

11 Tips For An Accurate Vehicle Repair Estimate.

My car knows when I get paid. Like clockwork it demands a new repair with every paycheck. As a result, I’ve had to gather estimates for such big jobs as replacing the timing belt, repairing all four brakes (including replacing pads, shoes and rotor).

Much to my chagrin, I learned that although a timing belt costs just $55, estimates for replacement ran as high as $850. Why so much? Because two out of three shops recommend also replace the water pump, front engine seals, drive belt, idlers and tensioners.

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automotive