IQ

October 2009

Late August 2009 saw the launch of the first of the new credit card rules designed to protect consumers. They are part of the Credit Card Accountability, Responsibility and Disclosure Act of 2009, often called the Credit Card Act 2009. The remaining regulations take effect in February 2010. The goal of this legislation is to provide new protections for consumers by providing for better disclosures about credit card terms and curbing some of the worst practices of the credit card industry. Meanwhile, many credit card issuers are busy making changes to protect their interests and profits before the new rules take effect. What do the new regulations and card issuers’ actions mean for you and your use of credit and credit cards? This report gives you a preview.

September 2009

The economic fallout from the national credit crisis and recession has been hitting hard at personal finances in recent months. Many consumers are facing tightened credit availability as they seek credit for a mortgage or car loan, for instance. Credit card companies have been lowering credit limits and closing accounts at record levels, even for customers with good credit, in an effort to recover from past losses and reduce future risk exposure. Meanwhile, layoffs continue and our collective sense of job security is lower. Even though some recent economic indicators have been positive, economic recovery is still a ways off. Smart consumers know that protecting their credit and credit score in this uncertain climate is very important. In this report, we’ll look at some expert recommendations for achieving that goal.

August 2009

Today’s recession has made for a tight job market. In addition, high unemployment rates add more pressure. This stressed climate in the job market attracts scams and fraudsters seeking to take advantage of people anxious to land a job. Because so many job search activities have moved online, many of the scams also come to you online. This month’s report describes some of the most popular frauds and offers tips to help you avoid these traps.

July 2009

Used wisely, credit cards enable consumers to manage cash flow and leverage their overall buying power. Today’s tough economic times, however, have put pressures on financial institutions, businesses, and individual consumers. These pressures have given rise to ongoing changes in credit card account terms and rates being made by a number of card issuers. Such changes may in turn increase financial pressures on many card holders. Cash-strapped consumers squeezed by higher costs or employment woes may be tempted to bridge cash shortfalls by charging expenditures, even for necessities such as food and gasoline. The resulting cycle of increased debt can be down right dangerous to personal financial stability. This report provides some strategies for using credit cards wisely in today’s tough economic circumstances.

June 2009

Saving money is a top priority for most people these days. Yet, most of us also want to do our best for the environment. Taking steps that help you go greener at home and also save money is a win – win goal. So in this report, my team and I have pulled together a variety of easy, practical tips. Add at least one new green, money-saving practice each week, and over time your wallet and the planet will say thank you!

Lighting. Incandescent light bulbs lose about 90% of the electricity they use as heat. Replacing incandescent bulbs with compact fluorescent light (CFL) and LED bulbs, can reduce your electricity bill. Even though CFL and LED bulbs are more expensive than incandescent bulbs, they are more efficient and last longer. To avoid problems, however, you must choose the correct bulb for an application because CFLs and LED lights can burn out quickly when used in the wrong place. For example, a regular CFL “coil” light placed in a can light or an enclosed fixture typically will burn out rather quickly—a waste of your money. Excessive heat can also cause LED lights to burn out. Learn more about CFL and LED lighting at the energystar.gov site.