DailyFinance.comhttp://www.dailyfinance.comDailyFinance.comhttp://o.aolcdn.com/os/df/2013/img/2-dailyfinance_logo_m.pngDailyFinance.comhttp://www.dailyfinance.comen-usCopyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only.Blogsmith http://www.blogsmith.com/Goodbye, Room Service; Will We Miss It More Than Clean Linens?http://www.dailyfinance.com/2013/06/08/room-service-hotel-cost-cutting/http://www.dailyfinance.com/2013/06/08/room-service-hotel-cost-cutting/http://www.dailyfinance.com/2013/06/08/room-service-hotel-cost-cutting/#commentsFiled under:

room service
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The Hilton Midtown made headlines last week when the famed New York City hotel opted out of room service. Beginning in August, the 2,000-room establishment will cease all round-the-clock food and beverage delivery service.

The hotel has said that the reason for the change is that fewer customers are taking advantage of the service. But industry experts have noted that there might be other reasons, such as the high cost of labor on a low-profit service.

Travelers shouldn't let woes about low-profit food and beverage services distract them; the hospitality industry is doing just fine. According to the recently released 2013 HOST Almanac, which studied the income and expense statements of nearly 6,000 U.S. hotels, the industry had income of nearly $162 billion, with house profit of $58 billion and operating expenses of $40 billion. The average nightly rate per room in 2012 was $159.52, and each occupied room generated an average of $244.76 in total revenue for the hotel.

No Soup for You!

The elimination of room service from traditionally full-service hotels is not a new notion.

At the 2010 Lodging Conference, a session entitled "Owners Talk About Operational Issues" was filled with hotel owners discussing how food and beverage service was a losing game. The ideas discussed ranged from eliminating room service to offering takeout instead of dining options to removing food and beverage services entirely. Over the past several years, hotel sundry closets have expanded to include more cafeteria-type items, with even luxury chains offering "grab-and-go" items.

While the occasional room service splurge can be a delicious luxury, for families worried about their travel budget or those looking to get the most from their hotel stay, those overpriced meals are a poor choice. Far better to find a local grocery store or farmers' market and dine al fresco on the steps of a local attraction than shell out and dine from inside.

Some Travelers Still Need In-Room Coffee

With the rise of self-service hotels, nontraditional accommodations like house-swapping, Couchsurfing and Air B&B, or even the old-fashioned nightly rental ads in large urban areas on Craigslist, the full-service traditional hotel model itself is no longer the only option for leisure travelers, families, backpackers, or solo adventurers.

But for business travelers, especially those for whom traveling is their business, the elimination of room service is alarming.

Kat Von B, an undercover luxury hotel reviewer who goes by TravelingGreek on Twitter, says "All the hotels I stay at offer room service, an amenity I require. Usually, I am traveling on business and appreciate room service in the morning for coffee; sometimes if I've had a long day, I order in. It is a luxury that makes travel comfortable." Von B says she orders room service nearly every day, and coffee, at minimum, is essential before starting the day.

More Green, Less Service

Call it cost-cutting, call it a decline in consumer demand, call it an attempt to circumvent labor unions. Eliminating room service in favor of self-serve food options isn't the first time the hotel industry has instituted a wide-scale change.

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It was only a few years ago that hotels were asking customers to opt out of daily linen changes; now it's de rigueur. In some hotels, linens aren't changed unless a guest specifically asks.

Like many so-called "green initiatives," the hotels claim it's for the environment, and there's no doubt that less laundry equals less water consumption. But the cost benefits are immense; when travelers select a hotel with so-called green features, they think they're helping save the planet, but they're actually also helping hotels save money.

According to the Green Business Bureau, hotels with a recycling program save 50 percent on waste management; shampoo and soap dispensers save more than $16,600 per 100-room facility; vending machines with occupancy sensors save more than $400 a year; thermostat controls save 14 percent on energy bills; and a key card management system saves 25 percent on energy.

With so many other ways available for hotels to cut costs, Von B warns against cutting something so visible. "Customer service is so important in the competitive hotel industry," she says. "Guests want more, expect more, and upscale properties need to realize that sophisticated travelers have options and will go elsewhere."

Molly McCluskey is a contributor to The Motley Fool.

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]]>CouchSurfingCraigslistCustomer servicefood and drinkhotelsrestaurantsroom servicetravelMolly McCluskeySat, 08 Jun 2013 12:35:00 ESTNew Mobile Apps Help You Find Unexpected Savingshttp://www.dailyfinance.com/2013/06/01/new-mobile-apps-save-money/http://www.dailyfinance.com/2013/06/01/new-mobile-apps-save-money/http://www.dailyfinance.com/2013/06/01/new-mobile-apps-save-money/#commentsFiled under: , , , , ,

Apps phoneMobile apps can be a tremendous asset in keeping a financial plan on track, whether they're helping you keep travel expenses in check or make smarter money decisions. The latest round of new mobile apps and upgrades can help users avoid paying full price on just about anything.

The Blue Envelope Goes High-Tech

The ubiquitous blue Valpak envelope that has long appeared in mailboxes everywhere with coupons for local businesses has gone high-tech.

The Valpak app -- free to download and use, with no account creation required -- attempts to mimic the ease of opening the envelope and sorting through the coupons. It's the company's solution for shoppers who are on the go, says Nancy Cook, vice president of digital products for Valpak. "We've taken that the simple, streamlined experience of the blue envelope to the phone and the iPad."

"The envelope is good for someone who comes home and opens their mail, and sorts through which offers work for them and which ones don't," Cook says. "This is a different experience than someone who is driving around with their husband, looking for a place for dinner and receiving alerts about local offers."

The Valpak app works with the user's phone's location services to recognize the closest offers, and partners with Google Wallet and Apple Passbook to store and sort coupons digitally.

Upgrade to an Aisle or Window Seat (for Free)

Stuck sitting near the airplane restroom? Crowded in a middle seat between two screaming toddlers? TripIt Pro (the upscale version of the free TripIt app) recently added a Seat Tracker function that shows which seats are free on a flight. Airline willing, travelers can change seats within their fare class and fly happier without shelling out for an upgrade.

In addition to the Seat Tracker tool, TripItPro also features a refund tracker, which will monitor the price of the fare at booking and notify the user if there are any changes. Travelers will receive immediate alerts of flight changes or delays, allowing users to get a jump on re-booking flights. It also tracks and manages rewards programs. This isn't your everyday app, and its $49 annual fee (with a 30-day free trial) reflects it.

For those who travel less frequently, the standard TripIt app is available for free (or $.99 if you don't want ads on your app). Users can store and share travel itineraries, reservation confirmations, and area maps.

Scoring Tickets

Anyone who's ever been stuck in the rain waiting to buy Radiohead tickets can appreciate the Gator Locator app from concert ticket website Razorgator. The free app allows concertgoers to buy and sell last-minute tickets without transaction fees.

"This is the first mobile app that gets tickets into the hands of ticket buyers without fees of any kind. Ticket buyers will save an average of 20-30 percent on every ticket," said Nima Moayedi, CEO of Razorgator, in a press release.

The Gator Locator app shows concerts in most major U.S. markets (except Washington, D.C./Baltimore) and is expanding nationally. It's currently only available for iPhone, but an Android version is expected soon.

Better Than a Loudspeaker Announcement

The online couponer RetailMeNot launched an updated app that allows users to search for coupons for stores in particular shopping malls, request coupons for specific stores, and gain recommendations for stores based on previous searches.

Users can opt in to receive alerts when they enter geo-fenced areas (i.e., mall boundaries). Customers can save coupons for a later date, browse and shop online, or search daily specials. It's free to download and use for iPhone and Android. The Android version will have location-based searches later in the year.

Gallery: 7 People-to-People Apps to Save Money
Apps






Photo Credit: Retail Me Not and Valpak

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]]>AmazoAndroidappsGoogle walletiPadiPhoneNima MoayediRazorGatorRetailMeNotsave moneysavingsexperimentTripItValPakMolly McCluskeySat, 01 Jun 2013 05:00:00 ESTTravelers Say: For Friendly Skies, Don't Pick a U.S. Airlinehttp://www.dailyfinance.com/2013/05/29/best-airlines-customer-satisfaction/http://www.dailyfinance.com/2013/05/29/best-airlines-customer-satisfaction/http://www.dailyfinance.com/2013/05/29/best-airlines-customer-satisfaction/#commentsFiled under: , , ,

rating airlines
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Measuring satisfaction can be a tricky business, and nowhere is that trickier than in the airline industry, known for delays, bad food and uncomfortable seats.

It's far easier to measure the things that can lead to dissatisfaction -- how long travelers are stuck on the tarmac, how many flights are overbooked, the average wait time at a check-in counter. But there are a handful of studies that attempt to provide insight for travelers.

How do U.S. airlines stack up to their peers worldwide? In a word, horribly.

Travelers only have to look to the 2012 World Airline Awards to see that in the ranking of all the world's airlines, the U.S. simply is losing altitude. The first U.S carrier appears at slot 49. That airline, Alaska Airlines, earned the right to be rated as the top North American carrier, too. Yes, folks, the 49th best airline in the world is No. 1 here at home.

Service With a Strained Smile

Alaska Airlines shows up again in the annual North America Airline survey by J.D. Power & Associates where the carrier again earns the top spot (without any of the 48 international peers to stand in its way). The survey offers a closer look at how our home-country fleet is serving our needs.

Evidently satisfaction is improving. Sort of.

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J.D. Power found that customers are slightly more satisfied with the ancillary fees associated with traveling -- but not because those fees have decreased, but because customers have become resigned to them.

Travelers are also happier -- again, just slightly -- with the check-in experience than they were when asked last year. It's not that check-in has gotten easier. It's primarily because more passengers are bypassing the counter entirely to use mobile tools and check-in kiosks.

And if it seems like more airline personnel are smiling these days, it's not your imagination -- it's good business. The J.D. Power study found that travelers greeted with a smile were more satisfied than those who weren't. (If you want to avoid the rudest airlines, Airfarewatchdog.com's study can help guide you toward happier carriers.) Though smiles and upbeat employees probably aren't as helpful as on-time departures and luggage that makes it to the final destination on time.

How Airlines Really Doing

Perhaps the most accurate portrayal of the industry comes from Purdue University, which tracks airline quality in its Airline Quality Rating report.

That monthly study tracks 15 different aspects of airline travel that impact customers, including on-time arrivals, mishandled baggage, and overbooked flights, as well as how pets are handled, discrimination complaints, and a variety of ticketing and booking woes. Award categories run the gamut from best airline to best cabin to best seats, and votes on staff service, lounges, and catering. It's offers a straight-up quantitative measure of performance factors and is a must-read for frequent travelers.

Among other findings, AQR reports that customer complaints increased from 2011 to 2012, as did the number of customers bumped from flights.

The AQR report found Virgin America to be the highest-performing among the 14 U.S.-based carriers it studied. The California-based airline is 25 percent owned by The Virgin Group, and was designed by British entrepreneur Richard Branson.

And how did Alaska Airlines, the top dog from the J.D. Power study and World Airline Awards' best North American airline, fare in AQR's assessment? Not so well. The AQR report reveals that the survey darling of the year, Alaska Airlines, actually had an increase of bumped passengers and a higher rate of mishandled baggage than in 2011.

Add International Flavor to Your Domestic Travel

What's a traveler to do? With the expansion of international carriers in the North American market, it's becoming easier to avoid the U.S.-based carriers altogether.

Websites like Airline Network News & Analysis provide information on new routes. Booking flights on the first few days of a new route offers savings similar to seeing a play when it's in previews.
Experimenting with partner carriers in rewards programs can also reveal opportunities on little-known airlines.

Lastly, avoid getting socked with surprise fees. A site like Kayak, which maintains a list of fees for the major carriers, with links to each airline's fee policies worldwide, can help travelers understand baggage and other fees, and avoid surprises at the check-in counter.

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]]>air travelairfarewatchdog.comairlinesAlaska Airlinesbest airlinescustomer satisfactioncustomer serviceFinanceJ. D. PowerRichard BransonVirgin AmericaMolly McCluskeyWed, 29 May 2013 08:35:00 ESTTo Co-Sign or Not to Co-Sign? That Is the Questionhttp://www.dailyfinance.com/2013/05/16/cosigning-loans-risks/http://www.dailyfinance.com/2013/05/16/cosigning-loans-risks/http://www.dailyfinance.com/2013/05/16/cosigning-loans-risks/#commentsFiled under: , , , ,

Co-Signing a loan
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For some, having a friend or family member who's willing to co-sign for a loan can mean the difference between continuing to rent or buying a home, or between postponing school or furthering their education. For others, a co-signer can provide the chance to begin reestablishing good credit after a serious financial setback.

"For the person getting a co-signer, it serves a great purpose. It allows them to use someone else's credit standing to mitigate the risk for the [lender, so] they can get the loan, a better interest rate, or better terms," says David Pommerehn, the assistant vice president and senior counsel at Consumer Bankers Association.

For those who co-sign for a loan, however, the risks are plentiful.

Because co-signers will be responsible for the entire amount of the loan if the borrower defaults, Greg McBride, a CFA and senior financial analyst at Bankrate.com, has this blunt advice for people considering acting as co-signer: "Don't co-sign for any loan that you're not prepared to take on the responsibility of paying."

It's Hard to Say No Sometimes

It's not just parents co-signing for children or spouses signing for each other. Anyone can enter into a co-signing agreement, even an unwise one.

Many people may want to co-sign for a loan simply to help out a friend, whether or not that friend is fiscally trustworthy. But financial issues can cause strain in any relationship, and co-signing requests can be especially dicey. It might be easier just to give in and sign for a loan to keep the peace.


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But, McBride warns, such concessions can have longer, less peaceful consequences. "If your motivation is to save the relationship or friendship, then say no to co-signing," McBride says. "This rift will be smaller than if the borrower sticks you with the bill."

When considering whether or not to co-sign, individuals should factor in how long and how well they've known the potential borrower, Pommerehn says. "Is this somebody you know and trust? Do you know their spending habits? Do you know their financial acumen? ... You're legally bound regardless of the relationship. I could meet someone and a year later co-sign for a loan and they could skip town."

He reminds co-signers that in the event that the borrower reneges, "It's your debt, for all intents and purposes, as far as bankruptcy."

Necessary Steps

Pommerehn suggests obtaining copies of financial statements, tax returns, or a financial plan for paying back the loan before signing. "Depending on the person, it may seem like a heavy thing to ask, but you're really putting yourself out there."

McBride suggests the co-signer monitor his or her financial statements, both before and during the loan.

"Keep regular tabs on the account status, either via online access or from receiving copies of statements," McBride says. "If the borrower falls behind, you don't want to be the last to find out." McBride also recommends the co-signer monitor his or her own credit report to see how the loan is being reported.

There Can Be a Happy Ending

In many cases, co-signed loans are paid back by the borrowers on a regular schedule, and the co-signers are barely affected.

"If they do everything correctly, and nothing catastrophic happens and they pay the loan back, everything's fine," Pommerehn says. "If they repay on the terms of the loan and close it out, it can improve their credit score, depending on the type of loan, and the borrower might not need a co-signer again."

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]]>Bankrateborrowingco-signing loanscosignerfamily moneyFinanceLendingloansMolly McCluskeyThu, 16 May 2013 05:00:00 EST'My Company's Doing Great! But I Think I'm Going to Lose My Job.'http://www.dailyfinance.com/2013/05/03/employee-confidence/http://www.dailyfinance.com/2013/05/03/employee-confidence/http://www.dailyfinance.com/2013/05/03/employee-confidence/#commentsFiled under: , , ,

stress during layoffs
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Nearly 1-in-5 employees fear losing their jobs in the next six months, despite the perception most have that their employers' prospects will brighten during the same period, a recent Glassdoor survey of more than 2,000 adults found.

What's with the disconnect? How can the workforce simultaneously be optimistic and pessimistic? Digging deeper into the data, it becomes clear how even if your glass is half full, all it takes is one misstep to make it spill out.

More is less (is more)

Employees reported a wide range of organizational flux, from reduced staff and wages to increased perks and benefits. More than a third of respondents said their company had made changes to the number of staff, or changes within staff structure through promotions, demotions, or lateral changes. Department shuffles and reorganizations resulting in downsizing were also included in this category.

Of the employees who reported negative changes, 51 percent reported a change in their salary or other financial compensation, 22 percent reported that they had a pay cut, and 17 percent said their companies had a hiring freeze.

Yet nearly half thought their company's prospects would be brighter in the coming months, with younger workers more optimistic, and men more optimistic than women about both the company's prospects, and pay and cost-of-living increases.

But it's not all about the money for some; more than half of those polled reported new, nonfinancial perks such as casual days, flex time or work-from-home policies.

Where do you see yourself in six months?

Not here, according to 19 percent of those polled, who thought they might be fired in the next six months. And 27 percent thought a co-worker might be fired.

Employees worried about being laid off are also worried about their prospects of finding a new job matching their current pay and experience levels.
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Nearly 39 percent of employees thought they might have trouble landing commensurate work, with younger employees 18 to 34 more optimistic (48 percent thought they would find another job in the next six months).

Those who were unemployed at the time of the poll were naturally less positive: less than a third expected to find work matching their experience and previous compensation, down 6 percentage points from last year.

Gallery: 13 Money Lies You Should Stop Telling Yourself By Age 40

1. Debt collectors will stop chasing me once I'm in retirement, so why worry about it?2. I can definitely get by in retirement with less income than I'm making now.3. I can always save more by postponing retirement until my late 60s or early 70s.4. I can always rely on Medicare for my long-term health care needs.5. My nest egg will be safe in a bank account.

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]]>consumer confidenceemployee confidenceemployeesemployersemploymentglassdoorjob marketjobssurveyMolly McCluskeyFri, 03 May 2013 05:00:00 ESTHow to Attend Prom Without Spending a King's Ransomhttp://www.dailyfinance.com/2013/05/03/prom-budget-spending-tips/http://www.dailyfinance.com/2013/05/03/prom-budget-spending-tips/http://www.dailyfinance.com/2013/05/03/prom-budget-spending-tips/#commentsFiled under: , , , ,

Prom photos
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From tickets to dresses and tuxedos to shoes, hair appointments, a limo, and dinner, the costs of prom continue to rise.

A new study by Visa reveals that American families are paying an average of $1,139 per prom-goer in 2013, up from $1,078 in 2012. Costs for the big night vary widely by region. Those in the Midwest will pay an average of $722, families in the West will pay approximately $1,079, attendees in the Southern states will pay just over $1,200, and those in the Northeast will pay a whopping $1,528.

The survey also found that households earning less than $50,000 a year will spend over $100 more on prom than families whose income was higher. But an even more surprising contrast is between single parents and married ones: Single-parent households expect to lay out $1,563, nearly twice the $770 that married parents say they'll spend.

Gallery: How to Attend Prom for (Nearly) Free

Cut costs without killing the funGet a Free Loaner FrockGo Old-SchoolSkip the ExtrasSearch for Prom Promotions



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]]>Molly McCluskeyFri, 03 May 2013 05:00:00 EST'My GPS Made Me Do It': Top Excuses When Getting Pulled Overhttp://www.dailyfinance.com/on/top-excuses-when-getting-pulled-over/http://www.dailyfinance.com/on/top-excuses-when-getting-pulled-over/http://www.dailyfinance.com/on/top-excuses-when-getting-pulled-over/#commentsFiled under: ,

Speeding ticket
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"My GPS told me to do it." That's one of the top excuses offered by drivers who get pulled over for a moving violation, according to a new study. Other favorites: I'm lost; I spilled a hot drink in my lap; I'm on my way to an emergency.

According to the survey by Insurance.com, which polled 500 drivers over the age of 18, women are more likely to plead ignorance, such as being lost (65 percent) or unknowingly having broken equipment. Men, on the other hand, are more likely to claim an emergency situation (67 percent) or that everyone else was doing it, so what's the harm? Men also accounted for a whopping 82 percent of the respondents who blamed the voice in the dash.

The overall most-cited excuse by everyone: "I couldn't see the sign telling me not to do it," followed closely by "I'm lost and unfamiliar with the roads."

"By now, police officers can probably finish people's sentences," said Michelle Megna, managing editor of Insurance.com. "I wonder if they wouldn't appreciate a little dog-ate-my-homework creativity."

What's That Gonna Cost?

If you do get pulled over, the first thing you're likely to worry about is the effect of a moving violation on your car insurance premium. Insurance.com's Uh-Oh! Calculator offers an estimate of possible insurance hikes following a minor traffic infraction.

But not to worry: A study by competitor InsuranceQuotes.com (a Bankrate company) found in February that most drivers won't pay additional premiums as a result of a minor moving violation. That study found that only 31 percent of Americans who received a traffic ticket in the past five years had a rate increase as a result, and those who did have an increase paid less than $100 more a year. Younger drivers were more likely to have a premium increase as a result of a ticket; repeat offenders and drivers with serious violations like driving under the influence or leaving the scene of an accident, almost always saw higher premiums.

What to Do If You're Pulled Over

Regardless of the reason, drivers who see flashing lights in the rearview mirror should throw on their turn signal and pull over as soon as it's safe to do so. Don't make any calls (even with a headset) and keep hands in sight on the top of the steering wheel. Wait to reach into the glove box for an insurance card until asked by the officer.

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Exercise caution, particularly if the car that's pulling you over is unmarked. On several occasions in the past few months in the U.S. and Canada, young women have reported being pulled over by police impersonators.

Police in Pennsylvania offer this tip: "If you are being signaled to stop by an unmarked vehicle that you believe may not be a police vehicle you may continue to drive at a slow speed to a safe, well-lit, populated area before pulling over. You may call 911 and advise them that you are being stopped by a vehicle that you believe may not be a police vehicle and the dispatcher may advise the officer of the reason that you are not stopping. Once you have stopped for an officer in an unmarked car, you may request that a marked police unit respond, as well, to confirm that the unmarked police vehicle is legitimate."

But if you're pulled over by a legitimate officer for an actual driving violation, excuses will do you less good than simply admitting the violation. "In the end, the excuses don't matter. Your driving record doesn't have asterisks and footnotes," says Megna.

Gallery: The Best And Worst Vehicles For Under $30,000

The Best And Worst Vehicles For Under $30,000Best -Best -Best -Best -

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]]>car insurancedriving recordexcuses for moving violationsinsurance premiumsinsurance.commoving violationstraffic tickettraffic ticketsMolly McCluskeyWed, 01 May 2013 14:30:00 ESTCredit Card Rewards: Don't Let Good Points Go Badhttp://www.dailyfinance.com/2013/04/24/credit-card-rewards-points-best-techniques/http://www.dailyfinance.com/2013/04/24/credit-card-rewards-points-best-techniques/http://www.dailyfinance.com/2013/04/24/credit-card-rewards-points-best-techniques/#commentsFiled under: , , , ,

Brian Kelly, The Points Guy Facebook
FacebookBrian Kelly, The Points Guy, aboard a Cathay Pacific plane.
Most people have points, but few people know how to use them.

That's according to a new study by rewards points consultant Brian Kelly, whose blog thepointsguy.com helps people find and make the most of the right rewards programs for them.

Kelly's study found that nearly 73 percent of Americans enrolled in either credit card rewards programs or frequent traveler programs don't know how many points they have. That's one of the most expensive travel mistakes you can make.

"The way people need to think about miles and points, especially the credit cards points, is you're getting a percentage back of what you spend," Kelly says. "So when you're not maximizing that spend, you're losing money."
We talked to several points pros to find out the best ways to accumulate, track, and manage points programs. Here are their tips.

Shop Differently

George Hobica, founder and CEO of AirfareWatchdog.com, has found a unique way to maximize his travel points rapidly. "I never buy anything online without first checking the airlines' shopping malls. Same prices, same brands, but bonus miles in addition to what I earn on my credit card," Hobica says. "For example, I earned 10,000 miles buying a sofa; and 2,000 miles merely by renewing my mobile phone contract with AT&T by going through the American Airlines site rather than going to attwireless.com to do so."

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Once those points are earned, Hobica says he doesn't use them to buy flights, but rather to upgrade from coach to business or first class. "I often buy a one-way fare from NY to L.A., for example, on United or American for $150-$180 and then apply 15,000 or 17,000 miles to upgrade to a business class fare that would otherwise cost $2,500," Hobica says. "To me, that's great value. Spending 25,000 miles on a $250 round-trip economy-class fare doesn't make sense to me."

While Hobica also opens and closes travel-related affinity credit cards to earn promotional reward points, the practice can have negative long-term effects on your credit history and rating, and shouldn't be undertaken lightly.

Minimize Programs, Maximize Rewards

Mike Sprouse is the president and CEO of Sprouse Marketing, a Chicago-based boutique marketing agency, and frequent business traveler. He recommends keeping the number of rewards programs to a minimum, which makes points easier to accrue and track.

"Most companies running loyalty programs count on you never redeeming them," Sprouse says. "Having points spread out over fewer programs, or just one or two, will ensure redemption opportunities are top of mind and you don't forget about them."

Even people who never travel, or never travel for leisure, can take advantage of reward programs by redeeming points for gift cards, dining out, clothing, or household items. Kelly says, "If you're someone who travels a lot on business and the last thing you want is to travel in your personal time, getting a card that gives you 2 percent back on everything you spend is giving you cash back in your pocket."

No Credit Card? No Problem

Credit cards aren't the only ones offering rewards programs. Sprouse says that even without them, rewards abound.
"No credit card? No problem. My favorite program out there is Southwest's Rapid [Rewards] Dining program -- it's really a great idea and program. You earn points by eating or going to clubs. Pretty cool."

Kelly recommends accruing all rewards points into a central credit card points bank, like through Chase or American Express, each of which has multiple travel partners, and redemption opportunities for everything from books to music to groceries. He suggests using a travel app like TripIt or Award Wallet to track reward points and their expiration dates.

Using a few of these tips will ensure that you never let good points go bad.

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]]>airfarewatchdog.comBrian KellyCathay Pacific Airways Ltdcredit card rewardscredit cardsGeorge HobicaMike Sprousereward milesTripItMolly McCluskeyWed, 24 Apr 2013 13:00:00 ESTFinancial Literacy Gets a Hip-Hop Makeoverhttp://www.dailyfinance.com/on/hip-hop-financial-literacy-boys-girls-club-schwab/http://www.dailyfinance.com/on/hip-hop-financial-literacy-boys-girls-club-schwab/http://www.dailyfinance.com/on/hip-hop-financial-literacy-boys-girls-club-schwab/#commentsFiled under: , ,



Long filled with messages of outlandish lifestyles and expensive habits, hip-hop has lately been promoting more frugal choices. From "Mo Money, Mo Problems" to the virtues of shopping secondhand in "Thrift Shop," the genre's done a 180.

It's spinning a little faster this week with the help of an unlikely ally.

Few things are less antiestablishment than the establishment itself -- in this case, the quintessential banker stereotype. But Charles Schwab and the Charles Schwab Foundation are reaching out to a younger audience through a partnership with the Boys & Girls Club of America to teach financial literacy through music.

The brokerage sponsored the Money Matters Music Mogul contest with the nonprofit organization to help promote financial literacy and responsibility among teens. The grand prize winner, 15-year-old Blake McGuire of Indianapolis, won with his rap, "Money All That Matters," which received more than 100,000 online votes. (Watch the video above.)

The song includes the lyrics, "I'm gonna balance all my checks so my money never falls / budget out my money so I don't get collectors' calls / cause you can't rob Peter to go and pay Paul."

The contest was an extension of the Boys & Girls Club "Money Matters: Make It Count" initiative, a personal finance program for teens that teaches money management skills.

For the Money Matters Music Mogul contest, teens at 2,900 clubs across the country were encouraged to create original lyrics promoting responsible spending and money management skills.

McGuire, and six other teens ranging in age from 13 to 17, will be featured on the financial-literacy hip-hop album produced by Kevin "Khao" Cates. All proceeds from the album, which is available for download and streaming, will benefit a scholarship program for the teens on the album.

Gallery: Financial Camps

Camp MillionaireYoung Americans Center for Financial EducationCamp BizSmartCamp ChallengeMore on DailyFinance

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]]>Boys and Girls Club of AmericaCharles Schwabcharles schwab foundationfinancial literacyKids and Moneymoney matters: make it countMolly McCluskeyTue, 23 Apr 2013 05:00:00 ESTWith Banks Courting Customers, You Can Try Before You Buyhttp://www.dailyfinance.com/2013/04/17/banks-customer-friendly-free-consultations-seminars/http://www.dailyfinance.com/2013/04/17/banks-customer-friendly-free-consultations-seminars/http://www.dailyfinance.com/2013/04/17/banks-customer-friendly-free-consultations-seminars/#commentsFiled under: , , ,

Banking advertising
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People who can't sample ice cream without buying a sundae might have a difficult time taking advantage of banking freebies. But if you have the discipline to stick to your financial plan in the face of a high-pressure sales pitch, then bank-sponsored seminars, consultations, and webinars offer a perfect learning opportunity.

Banks offer these informational events as a way to introduce potential customers to their services. And while the intent is obvious, you can glean a lot of good information on everything from buying a home to paying for college to planning for retirement -- all while scoping out service providers.

Try Before You Buy

Many banks, large and small, want current and prospective customers to understand the full range of products they offer, and see consultations as a means of finding the right fit.

The idea isn't a new one, but with as big banks struggle to appear more customer-friendly in the wake of years of banking scandals, those marketing pitches are coming with a softer side that includes personal consultations, for customers and non-customers alike.

And if gaining financial information has never been easier, making sense of it has never been tougher. What is the full cost of a service? What fees are involved? What does the fine print really mean? This is your chance to get those answers before you commit to becoming a customer.

Richele Messick of Wells Fargo says there's only so much the Internet can do: "There's no replacement for sitting down with a banker and having that conversation [about] 'What do I think I have together and what do I not?'"

Smaller, Friendlier Banking

Many credit unions consider increasing financial literacy to be one of their core missions and, like the State Department Federal Credit Union in the metro D.C. area, offer classes in everything from home-buying to financial planning to saving for college.

But some take their outreach a step further. Bay Federal Credit Union in California, for example, offers a comprehensive suite of financial literacy programs for kids, teens, adults and teachers. And it's hardly the only one. Credit unions across the country frequently offer similar seminars, often without the hard sell of larger, for-profit banks. And because many credit unions link into networks, a member of one can often take advantage of learning opportunities at another.

Get the Most Out of Your Scouting Trip

Before you attend a seminar or one-on-one consultation, think about what you ultimately want from the service provider.
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People who wait until all their paperwork is in order to schedule a review might be missing out, says Wells Fargo's Messick. "We have people who come in like they're going to their tax adviser: 'Here's my portfolio, statements, here's where I have all my accounts, here's my five-year plans,' " she says.

But even if you don't have your color-coded files ready for a financial pro to review, you can still get some valuable information by attending a seminar. "We don't want people to be frightened away, or think they need to overly prepare," she says. Simply starting the process of learning more is a step in the right direction.

Have a Plan to Avoid Committing

People worried about getting talked into products that might not be a right fit or before they've had time to consider all their options can avoid getting roped in.

Use competition to its fullest advantage; shopping around for rates and features offers the same leverage with banking products as it does with any major purchase such as a car or a home. The days of getting a toaster with a new checking account may be long gone, but every fraction of a point in interest rate matters.

Ultimately, some banks may just not offer the products you need, and in that case, it's OK to walk away. The exercise is certainly worth it if you learn something -- even if it's only that you need to continue to shop around for the right financial fit.

Gallery: Bank Scandals

UBSWells FargoJPMorgan ChaseBarclaysKabul

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]]>Bankingbanksconsultationscredit unionsFinancefinancial literacyMolly McCluskeyWed, 17 Apr 2013 05:00:00 ESTOld-Fashioned Saving Tricks That Still Workhttp://www.dailyfinance.com/2013/04/16/old-fashioned-money-saving-tricks/http://www.dailyfinance.com/2013/04/16/old-fashioned-money-saving-tricks/http://www.dailyfinance.com/2013/04/16/old-fashioned-money-saving-tricks/#commentsFiled under: , , , , ,

Bank Teller
Alamy
The old adage "a penny saved is a penny earned" calls to mind a time when cash truly was king, when pennies had purchasing power and savings were stored in boxes under beds.

But in today's more sophisticated world of apps, points and credit, maintaining a connection to pennies earned -- and other old-school approaches to spending and saving -- might not be such a bad idea.

Here are some ways to reintroduce some of those old-fashioned money management techniques into your financial repertoire. While no one would recommend stashing savings under a mattress or issuing I.O.U.s for groceries, adopting some tried-and-true tactics for financial management might be just the ticket to thriving in the modern world.

Gallery: Old-School Money Tricks That Still Work

Re-crown cashToss your spare change in a mason jarJoin the clubSay hi to your neighborhood tellerBank local



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]]>money managementpersonal financesaving tricksSavingsMolly McCluskeyTue, 16 Apr 2013 05:00:00 ESTMortgage Insurers Funneled Kickbacks to Lenders, Alleges CFPBhttp://www.dailyfinance.com/2013/04/05/mortgage-insurers-kickbacks-lenders-alleges-cfpb/http://www.dailyfinance.com/2013/04/05/mortgage-insurers-kickbacks-lenders-alleges-cfpb/http://www.dailyfinance.com/2013/04/05/mortgage-insurers-kickbacks-lenders-alleges-cfpb/#commentsFiled under: , , , ,

Consumer Financial Protection Bureau
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On Thursday, the Consumer Financial Protection Bureau filed complaints against four mortgage insurers who the CFPB claimed had paid kickbacks to mortgage lenders. Mortgage insurance is often required by mortgage lenders when customers are unable to make a 20 percent down payment on a home mortgage. Insurance protects the lender from a customer defaulting on their mortgage, but it also adds to the borrower's overall monthly payments.

Lenders, rather than borrowers, typically select the mortgage insurer. Through the arrangement, lenders were able to send business to insurers that then funneled millions of dollars back to the lenders over the span of 10 years.

The CFPB found the arrangement was in violation of the Real Estate Settlement Procedures Act of 1974, which makes kickbacks in real estate transactions illegal. The Dodd-Frank Act moved enforcement of the old law to the new CFPB.

Because the practice targets homeowners with little equity, the CFPB says that inflated costs as a result of illegal kickbacks can be devastating, and increase the chances the homeowners will default on their mortgages.

"Illegal kickbacks distort markets and can inflate the financial burden of homeownership for consumers," said CFPB Director Richard Cordray in a press release. "We believe these mortgage insurance companies funneled millions of dollars to mortgage lenders for well over a decade."
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The four companies involved in the settlement are Genworth Mortgage Insurance Corporation, based in Richmond, Virginia; the Greensboro, N.C.-based United Guaranty Corporation; Radian Guaranty of Philadelphia; and Mortgage Guaranty Insurance Corporation headquartered in Milwaukee.

The complaint against the mortgage insurers and lenders in regards to kickbacks calls for a combined penalty of $15.4 million, an end to the practice of kickbacks, and ongoing compliance monitoring.

Lenders, You're Clearly on Notice

This isn't the first time the CFPB has tackled predatory mortgage practices.

In January, the agency issued new rules to ban predatory lending to high-risk individuals, including interest-only and no-documentation loans. The rules included a caveat that loan payments be no more than 43 percent of a borrower's monthly income.

In February, the CFPB issued warnings about ongoing mortgage relief scams, and are targeting companies that promise to offer help for underwater homeowners, especially those pretending to be government or government-endorsed agencies.

See the CFPB's release for more on its complaints and proposed consent orders sent to the four major lenders.

Molly McCluskey is a contributor to The Motley Fool.

Gallery: Galling Tax Loopholes Costing The US Government Billions

Corporations can avoid paying taxes on US profits with the They can also avoid taxes on international profits by expanding the The carried interest loophole allows people who work in investing to skirt federal income tax rates.The People who own private jets have a special line in the tax code that costs the government $300 million annually.

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]]>CFPBConsumer Financial Protection BureauFinancekickbacksmortgage insurancemortgage insurersmortgagesReal Estate Settlement Procedures ActRichard CordrayMolly McCluskeyFri, 05 Apr 2013 17:20:00 ESTTipping Tips for Travelershttp://www.dailyfinance.com/2013/04/01/tipping-tips-for-travelers/http://www.dailyfinance.com/2013/04/01/tipping-tips-for-travelers/http://www.dailyfinance.com/2013/04/01/tipping-tips-for-travelers/#commentsFiled under: , ,

Tipping at a restaurant
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Cash may be king, but figuring out how much of it to tip -- and to whom -- can leave travelers feeling like paupers.

We asked experts and seasoned travelers for their tips on how to show appreciation for the people who make traveling worth doing.

Gallery: Tipping Tips for Travelers

Gratuity Included... for the Moon?When in Doubt, AskSome Things Are StandardEngage in Diplomatic RelationsOther Ways to Say 'Thank You'

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]]>how much should I tipinternational travelLocaltippingtourismtraveltravel tipsU.S.Molly McCluskeyMon, 01 Apr 2013 05:00:00 ESTLatest Data on Travel Trends Can Help You Save on Your Next Vacationhttp://www.dailyfinance.com/2013/03/30/travel-trends-save-vacation-airfare-kayak/http://www.dailyfinance.com/2013/03/30/travel-trends-save-vacation-airfare-kayak/http://www.dailyfinance.com/2013/03/30/travel-trends-save-vacation-airfare-kayak/#commentsFiled under: , , , ,

KOH PHANGAN THAILAND - JUNE 18: A woman enjoys the beachside pool at the Anantara Rasananda resort June 18, 2012 on the island of Koh Phangan off the coast of Koh Samui . Thailand's official tourism body, the Tourism Authority of Thailand (TAT) has set itself the ambitious target of attracting more than 20 million tourists in 2012. According to TAT, In April, Thailand welcomed 1,659,021 international tourists which is a slight increase of 6.87% over the same in 2011. (Photo by Paula Bronstein/Getty Images)
Paula Bronstein/Getty Images
Opportunities to save on airfares are like a seesaw: When international fares go up, expect domestic fares to go down. And vice versa, the best times to fly internationally are often when domestic travel is heaviest.

After studying 1 billion search queries from 2012, booking giant Kayak.com just released new data about travel trends -- everything from the cheapest times to fly to the places where airfares are rising. The findings offer some good guidance for those planning their next getaway.

Gallery: 5 Ways the Latest Data Can Help You Save on Your Next Getaway

1. When to Go2. When to Book3. Where to go before everyone else does4. Check deals at new-to-you airlines5. Keep your other travel costs under control


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]]>AeromarAir New Zealand Ltdcheap airfareFort Lauderdale, FloridaKayak.comLas Vegas, NevadaMumbaiNashville, TennesseeOrlando, FloridaPunta CanaSan José del CaboSanto DomingoTokyotravel tipsvacationswhen to flyMolly McCluskeySat, 30 Mar 2013 05:00:00 ESTIs That Charity Street Canvasser Legit?http://www.dailyfinance.com/2013/03/29/charity-street-canvassers-legitimate-or-scam/http://www.dailyfinance.com/2013/03/29/charity-street-canvassers-legitimate-or-scam/http://www.dailyfinance.com/2013/03/29/charity-street-canvassers-legitimate-or-scam/#commentsFiled under: , ,

Dialogue Direct Children International
DialogueDirect / Facebook
They're a ubiquitous sight in major cities around the world: youths in brightly colored T-shirts stopping passersby on sidewalks, asking questions like, "Do you care about the planet?" "Do you want to help save children?" "Do you have a few minutes to talk about how to make the world a better place?"

Armed with a clipboard and a mission, these fundraisers are after donors, and their dollars, working for a variety of charities with missions ranging from environmental sustainability to equality to eliminating hunger.

And while most people wouldn't give their wallet to a stranger on the street, many people give these strangers their personal and financial information. But it's not always wise -- or for the benefit of humankind.

Not What They Appear

One of the most visible of these charities is Children International, with a mission to help children in poverty. But the people blocking sidewalks in CI shirts aren't volunteers or even Children International staff members -- they're employees of DialogueDirect, a corporate fundraiser whose only client is Children International.

When asked how donors could know their information was safe when giving to a street team member, Felicity von Suck, a client services manager, replied, "All of the information comes into our office and is locked up overnight. We then scan it over an encrypted line and Children's International is the only one who can decrypt it."

Asked about the safety of the information before it reaches the DialogueDirect office, von Suck replied, "We conduct background checks on everyone we hire. If we've hired someone, and their background check comes back with a felony or misdemeanor or something that appears like that person is prone to fraudulent behavior, we don't send them out."

But there have been cases, such as the one in San Jose in February, where individuals collecting for a charity have no affiliation with them.

Sakshi Jain, an IT communications professional in Washington, D.C., says the potential for scams doesn't stop her from giving, but it does make her careful. "I ask a lot of questions if I am not familiar with the charity or stick to organizations I know; there are too many false charities nowadays that prey on the generosity of others."

A New Model of Fundraising

Matt Wolcott of the Student Conservation Association, or SCA, which places people of all ages in service on public lands, says that face-to-face fundraising can be effective when done properly.
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Although the SCA doesn't currently do street canvassing, Wolcott says the organization isn't against it. "As the traditional tactics for donor acquisition become more and more cost-prohibitive," he says, "organizations medium and large are scrambling to figure out how to find alternate ways to supplant more traditional donor acquisition strategies, like direct mail."

Wolcott says street teams can serve another purpose. Street canvassers are usually young, well-spoken, and dynamic, and most important, passionate about their causes. "Street canvassers can work as great ambassadors of the mission and the organization," he says. "Professional fundraising is really struggling to attract young, professional talent. A good face-to-face fundraiser would make a fantastic development officer with a little more training and skill."

Cut Out the Middleman

Still want to give to a street canvasser? Know the charity, and whether the person collecting is a staff member or works for a third party. The heart of these campaigns is soliciting recurring donations, so make sure that what's on the receipt has been mutually agreed upon. Also, check the donor number on the receipt against the charity's website to confirm that your money has been received.

To ensure the bulk of charitable dollars go directly to the cause, donate via the organization's website or through its direct-mail campaign. This will minimize risk of fraud, and truly will help save the children -- and keep a few other kids off the streets.

Motley Fool contributor Molly McCluskey spent eight years managing communications for nonprofit organizations. None of her former employers, including the Student Conservation Association, used corporate fundraisers during her tenure.

Gallery: Gifts That Give Back

Invest in a global future:Give dull rainwear the boot:Send a girl to school:Put trees in the forest:Dial up support for U.S. troops:

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]]>charitiesdonationsfraudfundraisersidentity theftScamsStudent Conservation AssociationThe Motley FoolMolly McCluskeyFri, 29 Mar 2013 09:20:00 ESTFinancial Advice for the Sandwich Generationhttp://www.dailyfinance.com/2013/03/21/financial-advice-sandwich-generation/http://www.dailyfinance.com/2013/03/21/financial-advice-sandwich-generation/http://www.dailyfinance.com/2013/03/21/financial-advice-sandwich-generation/#commentsFiled under: , , , ,

UPPER MARLBORO, MD- AUGUST 16: Daniel Sherrett, 28, who returned home to live with his mother, Marie, and older brother Mark, 31, after completing his bachelor's degree at the Culinary Institute of America, prepares dinner as part of his deal to live at home, on Tuesday, August 16, 2011. (Photo by Michael Temchine/For The Washington Post via Getty Images)
Michael Temchine/For The Washington Post via Getty Images Daniel Sherrett, 28, who returned home to live with his mother, Marie, and older brother Mark, 31, after completing his bachelor's degree at the Culinary Institute of America, prepares dinner as part of his deal to live at home.
Between the growing number of adult children moving back in with their parents, and a growing population of senior citizens becoming financially dependent on their children, the Sandwich Generation can't seem to catch a break.

Nearly half of all adults between the ages of 40-59 are giving financial support either to a parent over the age of 65 or to their offspring. Nearly one in seven adults are supporting both. So says a new study by Pew on the rising financial burdens of those adults -- the generation that overlaps both the Baby Boomers and Generation X.

Multigenerational Impacts of Unemployment

The middle-aged Sandwich Generation has been hit especially hard by the recession and its aftermath. With unemployment still at 7.7 percent in February, and mass layoffs of nearly 135,000 in January alone, the long-term financial pressure is hitting those supporting multiple generations particularly hard.
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Older parents may face forced retirement, and its sudden impacts. Parents of teens may face impending college expenses. Grown children with children of their own may suddenly face their own unemployment and be forced to move back home.

Although older workers were more likely to have held onto their jobs during the recession than their less experienced counterparts, workers over 50 who were laid off during the recession are finding it difficult to find new work. Too young to retire, this age group was recently called "the new unemployable" by the Sloan Center on Aging and Work at Boston College.

Meanwhile, younger workers are less likely to be employed than they were just a few years ago, and those with jobs are earning lower wages, due in part to the competition from older, underemployed workers willing to work for less.

How to Navigate the New Terrain

Even though being financially sandwiched seems like being stuck in a vise that can only get tighter, with tax breaks and deductions for long-term care, retirement planning doesn't have to be a pipe dream. If you find yourself in this situation, here's some advice:

Don't dip into savings: Sandwichers should avoid dipping into personal and retirement savings if possible. Instead, evaluate all options for both the care of parents and the well-being of children. Investigating long-term care insurance before it's needed for aging parents, and knowing what expenses will have to be paid out-of-pocket might help make difficult decisions easier.

Explore all cost-savings options: Families with students heading off to college should explore less expensive options. Doing two years at a community college or an in-state school before transferring to a more expensive school for the fancy diploma, going part-time while working, and obtaining scholarships, fellowships or teaching assistantships are all options that can help lessen the financial burden for both parents and students.

Seek out tax breaks: With a wide array of financial scenarios presenting themselves in managing multiple generations, filing taxes can be tricky. Children, and even some caregiver expenses, may be deductible, or offset by tax credits. Adult children living at home may qualify as dependents, provided their income doesn't surpass a certain threshold. Elderly parents living in a nursing home can also qualify for dependent status, if a certain amount of financial care is given.

Reevaluate: Many people who established a financial plan several years ago are finding that it's no longer viable in the face of new challenges. Being realistic about the current financial challenges, revisiting a retirement plan, and rebalancing a portfolio for a change in risk-readiness can help keep retirement a reality, even in the face of economic uncertainty.

In the midst of such pressure, continuing to plan for retirement can be a daunting task for those stuck in the middle. But attending to your own financial security, and setting solid examples for your children, is as important as ensuring the financial well-being of others.

Gallery: The 7 Cities Where Americans Are Least Prepared For Retirement

7. Cleveland6. Baltimore5. New York4. Chicago3. Indianapolis

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]]>baby boomersboomerang kidselder careFinanceGeneration XParentingPaying for collegeRetirementretirement planningsandwich generationSavingForCollegeStudentLoansunemploymentMolly McCluskeyThu, 21 Mar 2013 05:00:00 ESTThe Savvy Grown-Up's Guide to Spring Break on a Budgethttp://www.dailyfinance.com/2013/03/12/spring-break-savings-tips-budget-adults/http://www.dailyfinance.com/2013/03/12/spring-break-savings-tips-budget-adults/http://www.dailyfinance.com/2013/03/12/spring-break-savings-tips-budget-adults/#commentsFiled under: , , , ,

A Thrift-Savvy Grown-up's Guide to Spring Break
(Alamy)
College students aren't the only ones traveling in March. Non-student couples and families of all ages are also heading south for spring break. While these groups don't necessarily mingle well, they all have one thing in common; wanting to find the best deals on the best vacations available while escaping the winter blues.

Here's how to beat the crowds, and the higher prices they bring, to find the least expensive and most relaxing vacations this March.

Go Someplace Else

A poll by the travel website Kayak.com shows the top spring break destinations are Las Vegas, Orlando, Miami, Fort Lauderdale and Puerto Vallarta. Student Universe identifies Panama City, Cancun, and San Jose among their top 10.

The trick to getting deals on air fare? Pick a less obvious destination.

There are any number of alternative spring break destinations where the Southern sun shines as brightly, but the prospects for cheap air fare and reasonably-priced accommodations aren't as dim. Seek out spots packed with museums, parks and kid-themed destinations that are close to, if not on, a beach, or just outside large spring break destinations. Don't overlook classic smaller cities like Charleston, Savannah or Galveston.

Go Farther

While domestic airfares spike during spring break season, international airfare drops, according to Sarah Mitchell, a spokeswoman for Kayak. The flight may be longer, but the cost is far less.
For non-collegiate couples or families looking for relaxing beach views not obscured with red-cup toting partiers, the Greek islands offers moderate climates and off-season rates, while Spain's economic troubles make finding hotel deals a snap. Or head to the Balkans -- rich in culture and thrifty in cost.

Savings Experiment: Spring Travel
Go Out to Sea

Because cruise ships sail whether they're full or not, savvy travelers who wait until the last minute to book can reap the rewards of rock-bottom prices. Cruisers who sail in off-season March will pay a fraction for the same trip as their summer-traveling counterparts.

Book a "family" cruise to avoid the collegiate crowd; search out itineraries low on parties and packed with kid-friendly activities. Prefer to spend more time on-ship than in a port of call? Check out off-season ship repositioning deals. While the starting and ending ports will differ, and the stops will be fewer, the on-board service and accommodations will be the same quality and the price will be right.

Go at an Off-Peak Time

Because breakers hoping to take advantage of every single minute of vacation travel weekend to weekend, flights and other fares mid-week will be lower. A five day vacation that leaves on Tuesday and returns on Saturday will be markedly less expensive than a Monday-Friday jaunt, or even a Sunday-Saturday trip. Off-hours flights, red-eyes, and flights with ugly layovers can offer substantial savings to travelers who are traveling light in companions and have time and flexibility to spare.

Go to College

If it sounds counter-intuitive consider this: College towns like Berkeley or Chapel Hill don't shut down when the students are away. Their cultural resources make many of them great places to vacation, and lines are considerably less at coffee shops, concert venues and museums when school is out of session. The colleges themselves frequently have exhibits open to the public and their websites are founts of information for visitors.

Don't Go ... Yet

If time permits and vacationing around school schedules isn't an issue, consider waiting out the spring break period and instead traveling in April. Early spring is still shoulder season for many destinations around the world and with careful planning, deals and lesser crowds can be found.

Gallery: How to Outwit the Airlines

Gallery: How to Outwit the Airlines

Embrace the illogical layoverLearn to love the red-eyeSign up for deals in a flashAvoid making changesThe skies can still be (wallet-)friendly

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]]>BalkansCharlestoncruise vacationsGalvestongreeceKayak.comoff peak travelSan Jose, CaliforniaSavannahsave money on airfareSavingsExperimentSpainspring breakspring break destinationstraveltravel and autosvacation destinationsMolly McCluskeyTue, 12 Mar 2013 05:00:00 EST4 Modern Conveniences That Can Put Your Money at Riskhttp://www.dailyfinance.com/2013/03/07/consumer-protection-scam-fraud-skimmers-phishing-wifi-hotspots/http://www.dailyfinance.com/2013/03/07/consumer-protection-scam-fraud-skimmers-phishing-wifi-hotspots/http://www.dailyfinance.com/2013/03/07/consumer-protection-scam-fraud-skimmers-phishing-wifi-hotspots/#commentsFiled under: , ,

computer hot spotsRobbing a bank may be difficult, but stealing an identity gets easier every day. Many shortcuts designed to enhance convenience for customers also make hackers' and thieves' jobs easier, as well.

During National Consumer Protection Week, state, federal, and nonprofit organizations behind the initiative are offering tips for protecting consumers, their wallets, and their identities. We're especially vulnerable in our everyday transactions -- whether it's tapping the ATM or logging into the Internet from our favorite coffee shop. Here's how to protect yourself from theft while going about your daily business.

1. Convenient Wifi Hotspots

"Is this a shared computer?" It's a standard question you see when logging into many websites. There's a reason for it: While shared computers and networks offer a valuable resource in public spaces like coffee shops, libraries, and airports, they're inherently less safe than a home or personal network.

Even if the hotspot or computer offers basic encryption, users should err on the side of caution and assume any information can be grabbed. Some tips to stay safe:
  • Never check account balances or portfolios on a shared network or computer.
  • Always log out of any accounts when finishing a session.
  • Don't use the same password across accounts.

2. 'Alerts' from Your Financial Institution

That dreaded phone call at dinnertime? It could be a debt collector, a charity solicitor, or a scammer. That email that looks legitimate with a bank or federal logo? Maybe it's kosher. Maybe it's a phisher.

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It's often difficult to tell who's legit and who's not. But here's a clear clue: Anyone who asks you for your Social Security number, account number, or password probably isn't legitimate.

Even at tax time, the IRS won't email, text, or tweet taxpayers for information about their filing, no matter how sophisticated the communication may appear. Banks and other financial institutions will send an email with a link to an encrypted site before prompting a log-in. They won't ask for passwords or account verification within an email. If someone claiming to be a representative calls at home and asks for personal information, such as PIN or password prompts, you should hang up and call the company's toll-free number immediately.

In short: Never follow a link from an email; instead, if the information appears legitimate, go directly to the organization's homepage through a secured browser.

3. Easy Online Checkout

Customers who shop at the same online shops repeatedly often have the option to store a credit card for an easier checkout. On occasion, the retailer may simply store the credit card information without asking, or hide the request in the fine print of the sale.

Storing a credit card number online might be convenient for users, but it's also convenient for hackers. One break-in will not only yield a list of favored beauty products or wish-listed books, but access to financial information.

If a penny saved is a penny earned, those extra moments typing in credit card information at each purchase is time well spent.

4. ATM's Everywhere

Despite the myriad warnings about the dangers lurking near ATM machines, debit card skimming is a fast-growing business for criminals. This week, three men were arrested in Miami in connection with a skimming ring that involved 18 bank branches and more than 400 customers. By placing a skimmer inside the debit card slot, and a camera angled at the PIN keypad, they were able to create duplicate cards and PINs, and empty their victims' accounts.

To avoid being caught in the skimmer's trap, always be hyper-alert when using a cash machine: Be wary of lurkers, check for card slots that appear cracked, crooked, or appear to be thicker than normal, and hold a hand over the keypad when entering a PIN. Use only machines from recognizable banks; independent machines may have been purchased and placed by thieves themselves.

The Bottom Line

Whether entering into a new business relationship or continuing a long-standing one, customers should always be aware of how and where their financial information will be used, how it's transmitted, and whether it and they are at risk for being targeted by ever-increasingly sophisticated thieves.

Photo Credit: Alamy

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]]>atm skimmersconsumer protectioncredit card numbersemail fraudhackersNational Consumer Protection Weekphishingphishing scamsscammersSocial Security numberstored credit card dataWiFi Hotspot risksMolly McCluskeyThu, 07 Mar 2013 16:40:00 ESTScam Alert: Free Puppies and Other Ploys That Tug at Your Heartstringshttp://www.dailyfinance.com/2013/03/04/scams-pets-love-dating-fake-charity-veterans-benefits/http://www.dailyfinance.com/2013/03/04/scams-pets-love-dating-fake-charity-veterans-benefits/http://www.dailyfinance.com/2013/03/04/scams-pets-love-dating-fake-charity-veterans-benefits/#commentsFiled under: , , , ,

How much is that puppy in the window?You might not be aware that it's National Consumer Protection Week -- a coordinated effort by state and federal agencies and nonprofit organizations to inform consumers about ongoing scams and how to protect themselves from con artists.

While scams promising mortgage relief, student assistance, or credit repair have received wide media coverage, some of the most brazen scams -- ones that take advantage of people's big hearts -- have gone largely under the radar.

From puppy love to charitable giving, con artists know no limits. Here are some of the most appalling scams, schemes, and ploys being used today, and tips on how avoid becoming a victim.

How Much Is That Doggy in the Browser?

A family in Rhode Island recently found a puppy online and promptly fell in love. It was free, but the owner was out of state, and asked them to pay the cost of having the puppy brought to them. They did, but received more emails asking for money. The same thing happened to a woman in Lincoln, Neb., and an Oklahoma woman, all in the past month. After funds are wired for shipping, more requests for money for shots, papers, or medical care continue to come.

Most people wouldn't consider wiring funds to a stranger they met on the Internet under normal circumstances, but add puppies (or kittens, or other cuddly creatures) to the equation, and a tug at the heartstrings can make them forget their usual commonsense precautions. Cristina Miranda, a Consumer Education Specialist at the Federal Trade Commission, recommends that people who want to add a pet to their home do their research and arrange an in-person meeting, or take a trip to the local animal shelter instead.

Thank You for Your Sacrifices -- Now Pay Up

They've served our country and now they need a helping hand. For debt-burdened veterans over the age of 65, converting assets into a trust to qualify for Aid and Attendance benefits for in-home care may look tempting. It's especially true when the people pitching the services seem to have the backing of their nursing home, religious center or community. These lawyers, insurance agents or financial planners offer "free" legal help for which they charge veterans thousands of dollars -- money that earns the shady dealers high commissions. The transfer of funds may even disqualify the veteran for Medicaid, or make their own money inaccessible to them.

Filing for veterans benefits is free, and the Veterans Administration can offer guidance, though it does not endorse specific plans. As always, individuals should check on the accreditation and references of any person wishing to handle their assets or offering financial or legal advice.

Brother, Can You Spare a Dime?

Every day for years, a woman would stand in front of a Bay Area big-box store and collect money for a local shelter. The problem was, the shelter was fake and the woman wasn't an employee or a volunteer -- she was a con artist who simply walked away with the money. It was part of a broader network of scams that set up fake charitable organizations and allowed the "volunteers" to keep most of what they collected.

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Whether it's giving a dollar to a bell-ringing Santa during the holiday season to help the homeless or calling in to a telethon to donate after a natural disaster, there are a myriad of ways to contribute to the common good. And just as there is a charity for every cause, there is a scam for every person willing to help out.

To give responsibly, don't pass a dollar to everyone with a sign. Get more information, research causes and organizations online, or call the Better Business Bureau. Always get a receipt after a donation of any size. And because charities frequently sell their mailing lists to other charities, be very clear about your mailing list and privacy preferences.

Looking for Love in All the Wrong Places

Finding love can be tough, and it never hurts to expand the search into the digital world. But if the object of your affection is overseas and needs financial help to get to your first date, it may be a sign of a scam.

The FTC offers the same advice about finding love online that it offers when buying a puppy: Don't let the heart rule the wallet. Don't wire funds for any reason, including for visas, hospital bills following an emergency, or to help the person recuperate from a financial or medical setback. Conduct research, and meet in person. And if all else fails, a trip to the local animal shelter might be a happy, healthy alternative.

Photo Credit: Alamy

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]]>Better Business Bureauconsumer scamsFake CharitiesFederal Trade Commissionfraudinternet scamsMedicaidNational Consumer Protection Weekonline dating scamspet scamromance scamsscamsUnited States Department of Veterans Affairsveterans scamsMolly McCluskeyMon, 04 Mar 2013 13:00:00 ESTGot a Traffic Ticket? The Bump to Your Car Insurance May Not Be So Badhttp://www.dailyfinance.com/2013/02/27/traffic-ticket-car-insurance-price-increase/http://www.dailyfinance.com/2013/02/27/traffic-ticket-car-insurance-price-increase/http://www.dailyfinance.com/2013/02/27/traffic-ticket-car-insurance-price-increase/#commentsFiled under:

speeding ticketWorried about what will happen to your car insurance premiums after you get caught committing a minor traffic violation? If you aren't getting traffic tickets frequently, then the results of a new study by InsuranceQuotes.com -- owned by Bankrate.com (RATE) -- may ease your mind.

According to the study, in which drivers answered questions about their histories and premiums, most drivers, regardless of age, aren't paying more for car insurance after getting a traffic ticket.
  • Only 31 percent of Americans who received a traffic ticket in the past five years saw their rates go up as a direct result. Of those 31 percent, most paid less than $100 more a year.
  • Younger drivers, ages 18 to 29, were more likely to have a higher increase after a ticket, and 41 percent said they paid more as a result of a violation.
  • 32 percent of 30-to-49-year-olds and 15 percent of drivers over the age of 50 also paid a slight increase.
However, drivers with a history of repeated violations, or significant violations -- including driving under the influence, leaving the scene of an accident, and reckless driving -- almost always were charged higher premiums.

The nonprofit Insurance Information Institute says increases in insurance premiums will depend on the type of moving violation.

For example, going fewer than five miles an hour over the speed limit is considered a minor violation, and could result in a 5 percent to 10 percent premium increase. Going more than 30 miles an hour over the limit, or committing reckless driving offenses like passing illegally, failing to stop, and tailgating can lead to premium increases of up to 15 percent. Just how much will depend on the state the insurance policy was issued in, the driver's record, and the insurance carrier.

Steer clear of Future Increases

Drivers with one minor moving violation can work to ensure their premiums don't go up by avoiding a second ticket, attending traffic safety courses, and keeping all registrations and inspections up to date.

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Also, some states have forgiveness rules. In New Jersey, for instance, carriers aren't allowed to raise rates for the first two-point speeding ticket (in most cases). And some insurers will forgive a minor violation for drivers with an otherwise clean driving history. Allied Insurance forgives one minor violation every three years without a rate increase, for instance. Nationwide offers an optional Minor Violation Forgiveness policy. Liberty Mutual and Progressive also offer customers similar options.

The Massachusetts Office of Consumer Affairs and Business Regulation offers a guide to accident forgiveness that can be useful for drivers nationwide.

All drivers, regardless of the number of accidents they've been in, can save money on car insurance by bundling policies, comparing rates regularly, and asking their existing provider for loyalty discounts and other price reductions they might qualify for.

Motley Fool contributor Molly McCluskey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our newsletter services free for 30 days. You can follow Molly on Twitter @MollyEMcCluskey.


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]]>Bankratecar insurancecar insurance premiumsDriving Under the InfluenceDUIDWIinsurance companiesInsurance Information Instituteinsurance rate hikeLiberty Mutual GroupMinor Violation Forgivenessmoving violationreckless drivingrepeat offenderThe Motley Fooltraffic ticketsMolly McCluskeyWed, 27 Feb 2013 08:55:00 EST