• One Paycheck at a Time Celebrates First Year Anniversary by Offering New Customers a One Month Free Trial and Debt Kit

• One Paycheck at a Time, Inc. Receives the Better Business Bureau’s BBBOnline Reliability Seal
• Online Budgeting Software Provides Visitors with Interactive Tools to Design a Plan to Get Out of Debt
• One Paycheck at a Time Awarded Best of Industry Web Marketing Association
• One Paycheck at a Time, Inc. to Donate 10% of its 2005 Net Income
• One Paycheck at a Time Launches Web-Based Debt Reduction Program
• Rebecca Brown Interviews Kimberly A. Griffiths
• New Book Reveals Strategy

• Bank Like a Banker
• Saving Tips for Grocery Shopping
• Gift Ideas to Save You Money
• 10 Ways to Save $50 a Month
• Painless Ways to Save Money this Year
• Six Simple Steps to Accelerating the Debt Reduction Process
• Do-It-Yourself Credit Check-Up
• Reduce Junk Mail
• Credit Card Usage Among Young Adults
• Eating Down Your Inventory
• 6 Saving Tips When Moving
• Glossary of Credit Terms
• How to be a Savvy Bargain-Hunter when Buying a Major Appliance
• Never Pay Retail - Ever!
• The Precious Cost of Commuting
• Managing Too Many Website Accounts - Keep It Simple
• 5 Ways to Safeguard Your Identity
• What's the Fastest Way to Get Out of Debt?
• Creative Goal Making with Scrapbooking
• Financing Education - Scholarship Resources
• Saving On Campus
• Internet Resources for Kids
• Seasonal Bargain Shopping

The business of banking has changed dramatically over the last decade. Because the cost of doing business the old-fashioned way is no longer effective, banks are interested in changing their customers' behavior by encouraging electronic banking alternatives whenever possible. They have done this by charging high fees for services that were once free. If you pay $200 or more in annual fees for banking, it's time to do some competitive shopping.

Before becoming furious with your bank, it may be that the products you're using no longer meet your personal needs. If you have an established relationship with your bank, inquire about the other types of lower-cost checking and savings account products.

Understanding the rationale of why a bank charges fees for different services will allow you to be a savvy banking customer. If human contact is required to serve you, such as a teller or personal banker, this is very expensive for the bank. The incentive is for banks to encourage more high-tech, "low-touch" methods of meeting your needs. This is accomplished by servicing as many customers as possible with automated telephone services, cash machines and online self-service banking.

Since the bank needs to train their employees, provide a paycheck and benefits, pay for the branch building and in some cases supply uniforms, etc., it is conceivable that your one banking transaction per pay period could cost the bank $3 or more.

If you conduct your banking via an automated telephone system, the cost of this type of transaction is much less expensive. However, if you then require assistance from a telephone banker, the price goes from $1 for the automated process to as much as $2 for human contact. For the same reasons stated above, the training, location, computer equipment, etc. becomes more expensive when human interaction is needed.

Now it is clear why electronic banking methods are preferred by financial institutions. In fact, most banks are rewarding their customers with lower fees the more the customer does his/her banking electronically.

For example, even though Automatic Teller Machines (ATMs) cost the bank around $100,000 each plus the cost of the computer network and maintenance, the cost of these types of transactions drops to between $.50 to $1 each. Not only are these machines more cost effective, the 24-hour availability to customers is very convenient. With the ease and convenience of automatic clearing house (ACH) payments, this "checkless" process drops the price to around $0.25 each. And finally, the Internet drops the expense even further to less than $0.10 a transaction. I realize that there is still some fear of banking electronically, but the security that banks have instilled with computer technology far surpasses the current security of traditional banking methods. If you lose your checkbook and wallet, the cost and worry of canceling these checks is very tedious. It's very possible that a thief could forge your name and deplete your accounts in a matter of hours. The sophisticated computer technology, however, although not perfect, has a far more secure system to protect you and your money. Avoid being the bank's best customer. Attempt to cut your annual bank fees in half by educating yourself. Inquire about the options and products available to you with your banker. By asking about the alternative banking methods, you may find that your bank fees will drop considerably.

Let's face it grocery shopping can take a bite out of your paycheck. While this isn't an expense that you can eliminate, there are ways to make it more affordable.

Introduction:
I realize at this point that you never valued $10 so much before in your life, but now you will! A good way to save money is to shop with just as much cash as you feel you will need. This is one way to ensure you do not go over you budget.

The key to grocery savings is not to be brand loyal. Always watch the grocer store circulars and use coupons in conjunction with a store sale price, or better yet find a buy one-get-one-free sale. Be a smart grocery shopper. Use all of the coupons and grocery cards you can for items you need to purchase.

Grocery Shopping Suggestions:

• Eat before you go grocery shopping so you won't be tempted to make impulse purchases.
• Don't forget to buy the generic or store brand for those items where a brand name is not necessary: sugar, flour, toilet paper, paper towels, napkins, etc.
• Stock up on food staples when they are on sale.
• Buy store-brand cereal instead of national brands. If your household goes through a box or more per week, you can save over $100 per year by purchasing store brands.
• When buying pre-packaged fruits and vegetables for a flat cost, i.e. 5 pounds of potatoes for $1.88, actually weigh the bags and find the bag that weighs more than 5 pounds.
• Check out the price per ounce/pound/piece. Just because it is a big box, doesn't mean it's cheaper! Sometimes two smaller packages are cheaper than the big box. Compare prices ounce per ounce.
• Stretch the food that exists in your cupboards. I bet you have enough odds and ends to last you at least a week in meals if you're creative. I have learned to make wonderful meals out of rice and beans, noodles, and herbs.
• When you cook a meal, cook twice as much and freeze the leftovers. This works great with cookie dough too.
• The weeks when the sales are not so good could be light buying weeks. If you have some food in reserve, on these light weeks the extra food is like money in the bank. If you ever hit a rough patch, you might have enough to carry you through that time.

Want to save $1000 this year for very little effort? Gift giving is an area where impulse buying is a frequent occurrence. I was amazed to discover I was spending over $1500 or more per year for gifts. What have you spent for gifts in the last 12 months? In my experience, gifts were last minute purchases for which money was no object. I now spend less than $500 per year for gifts. Take two hours of your life and save yourself $1000 or more per year on gift giving.

Get Prepared
Label 12 manila folders January - December. On the front of each monthly folder, write the days of the month. Next to the appropriate date on the folder, write in the occasion for which a gift and/or a card will need to be purchased. Then, write the amount of money you will spend on that gift. Inevitably, a wedding or birthday will come up that you didn't know about, so be sure you leave a little money left for these unexpected occasions.

The key is, don't exceed what you budgeted for each gift. For example, for Mother's Day, I will write $15 next to the holiday. I only allocate $400 for the known holidays and set aside $100 for the unexpected gifts such as a wedding or birth of a child. You may find that you are unable to budget $500 a year for gift giving. Just determine what you can afford and STICK WITH IT. Don't deviate from your budget.

Advance Planning
There are very real benefits to planning your gift-giving in advance. And, with a little creativity, you can bring your overall cost down substantially. Because you're prepared, you can actually enjoy the holidays. You won't feel financially strapped since you've budgeted for the gifts in advance. Since you've anticipated the gift-giving occasion, you will undoubtedly find the gifts on sale. It goes without saying, but the idea is, NEVER PAY RETAIL - EVER!

Frugal Gift Ideas

• Buy gift-wrap and greeting cards on sale, or better yet, make them yourself.
• Shop for gifts all year long to get the best price. This may mean you could be buying Christmas cards in January.
• Plant an herb garden for a friend. And, while you're at it, make one for yourself too.
• Treat your partner/spouse to a homemade spa. Give him/her a gift certificate announcing a full one-hour body massage and facial. This gift is easily worth over $75!
• Organize personal negatives and photographs for a friend or family member. Create a scrapbook, photo books, or even Photo CDs.
• Make some creative hand puppets for a child if you have mismatched socks and buttons lying around your home.
• Create a care package for a friend who recently got a new job. In a box or basket put some instant coffee, tea bags, aspirin, bandages, travel size toothpaste and toothbrush, along with a coffee cup. If the friend is a female, add some trial size products such as perfume and hairspray. If you want to increase the value of the gift, give a portable umbrella.
• Design a similar package for a recent high-school graduate student who will be entering college. You may want to even provide a $5 phone card instead of an umbrella.
• Buy movie tickets... a gift where one size fits all. When movie tickets are purchased in advance from movie theatres, you can usually get them at half price!
• Offer to make dinner for your friends if you're a good cook.
• Give a single friend or elderly family member freshly frozen dinners for a week.
• Mail out holiday cards for an elderly family member. if you're computer literate, put their address book into a database so the information can easily be updated.
• Make a year's worth of greeting cards and personalized stationery for someone if you're a bit crafty. Make enough birthday cards, anniversary cards, and blank cards for a year's worth of holidays. The thoughtfulness will go a long way throughout the year.
• Help someone else get organized. If the person you need to give a gift to is an entrepreneur or extremely disorganized, make a filing system for the upcoming tax year.
• Purchase gift-with-purchase cosmetic/perfume specials and split the gifts. Usually the gift is nicely wrapped, generic, and valuable enough to give away for an upcoming gift in your tickler file.

Getting Organized
In a drawer or closet, place the gift giving manila files, the greeting cards, gift-wrap and purchased gifts in chronological order. This is now your tickler file and shopping list to remind you what holiday is coming up.

1. Save up to 50% per month on convenience cleaner cloths by cutting them into half, i.e. dryer softener cloths, face cleanser cloths, etc. Savings: $5 per month
2. Find more thoughtful gifts and buy when the item is on sale, shop for birthdays and holidays throughout the year not at the time of the events. Savings: $10 per month
3. Bring your lunch to work once a week instead of eating out. Savings: $7 x 4 weeks = $28 per month
4. Don't go to the coffee shop on the weekends. Savings: 2 visits @ $2 = $4 per week x 4 weeks = $16 per month
5. If you carry a balance on your credit card, and you're only able to afford paying the minimum monthly amount, pay weekly installments instead of one monthly payment. For example, if you owe $100 per month, pay $25 per week. Because credit card companies accrue interest daily on your balance, paying only once a month is a huge detriment to your fiscal health. Savings: $10 - $100 per month (or more!)
6. Instead of a family night out, consider having an old fashion picnic together or a bike ride. Curbing entertainment costs doesn't mean curbing the fun. Savings: $25+ per month
7. Spend a day cooking meals that can be frozen for later use for your family. Once a Month Cooking, a book by Mary Beth Lagerborg and Mimi Wilson, features grocery lists and recipes to prepare and freeze a month's worth of food for you and your family. Not only are you able to purchase the food in bulk, this method prevents having to throw away any spoiled food. Savings: $50+ per month
8. If you are a regular monthly book buyer, stop the habit and visit your library instead! If you insist on buying books, buy it used at your local store or online at merchants such as www.half.com or www.amazon.com. Even a better idea, how about selling the books you have that you don't need! Savings: $5 - 15 per month
9. Use less expensive gasoline. If you live in North America and have Internet access, you are able to search for the cheapest gas price in your neighborhood with Gas Buddy, www.gasbuddy.com. Savings: $5 - 15 per month
10. Use two-for-one coupons when dining out; search for these in local newspapers, flyers, and in your "junk mail." If you are a group of four or more people, consider buying dining certificates at Restaurant.com, www.restaurant.com. After choosing your city and state on the website, you will be presented with a listing of restaurants vying for your dining dollar! Savings: $5- $50 per month

• Cut your dryer sheets in half, and use a ¼ less of laundry and dishwasher soap.
• Save your change. Any time you receive change from a purchase, put it in a jar.
• Eat out only when you have a buy-1-get-1-free coupon.
• Iron your own pants/shirts instead of taking them to the dry cleaners.
• Move to a state with no income tax, if you're considering relocating. Seven states have no state income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Two others, New Hampshire and Tennessee, tax only dividend and interest income.
• Increase the length of time between haircuts.
• Turn the temperature down on your water heater one notch, and be more conscience about turning off lights when you're not using them.
• Take home a doggie bag; eat half of what you normally eat in a restaurant or share an entrée with a friend.
• Use plastic containers when storing food instead of expensive zipper plastic bags.
• Double recipes when cooking and freeze the extra meal for another time.
• Run the dishwasher and washing machine only when you have full loads.
• Get free bank online service and save postage by having all your bills sent via the bank.
• Request generic medication whenever possible.
• Use your library card for your reading hobby.
• Gently wash sheets of tin foil that you use when cooking and store for a second use.

The key success factor of the One Paycheck at a Time program is to mail a partial payment to your outstanding loan(s) on a weekly or bi-monthly schedule depending on your paycheck cycle. If you can only cover a credit card's minimum payment, make weekly installments of $25 instead of one $100 monthly payment. Depending upon your balance, the [interest] savings can reach $10 to $100 a month or more.

After reading the "Bank on It" article in the January issue of Woman's Day magazine, several One Paycheck at a Time readers wrote to request further instructions on how to make more frequent payments as most creditors only provide one payment coupon each month.

First, it is important to identify which creditors should be paid more frequently than once per month. Companies such as your telephone, electric, and cable providers require that full payments are due on a monthly basis. These companies do not tack on interest to balances due; therefore, you should continue to pay these fixed expenses on a monthly basis when they come due.

If you have loans or credit cards incurring interest on your outstanding balances, these are the creditors you should target for multiple payments. For those of you with creditors accruing interest on your outstanding balances, please find below six steps to accelerating the process of getting out of debt. For simplicity purposes, the step-by-step example of how to implement this program is based on a weekly paycheck cycle, but can be easily modified for a different pay cycle.

1. Identify your creditors (such as those that have issued you credit cards, student loans, home equity loans, etc.,) that are adding interest to your outstanding balances each month. Don't include your mortgage holder as a creditor in this exercise due to the different nature of this type of loan (for more information, read about mortgages the One Paycheck at a Time book.)
   
   
2. Determine the minimum weekly amount due to each creditor by dividing the monthly minimum payment by number of weeks in the month. For example, if the creditor requires a payment from you of $100 each month, you will be sending in $25 a week.
   
   
3. Write your account number in the memo section of each weekly check.
   
   
4. Copy the coupon your creditor provided, or write a note with each weekly partial payment so that there is no confusion regarding the account on which you are paying.
   
   
5. Choose ONE of your creditors you would like to focus on to pay off -- this will be your primary target. Instead of sending a little bit of money to each individual creditor, send the weekly minimum payment to all of them, except your primary target. Send as much additional money as possible each week to your primary target. For example, if you can send an additional $10 per week, send it to only your primary target and pay the weekly minimum to your other creditors.
   
   
6. When your primary target is successfully paid off, roll the weekly payments you were sending to this account into the next target you want to pay off.

The following is a summarized excerpt from the Federal Trade Commission website, which can be found on the Web at http://www.ftc.gov/bcp/conline/pubs/credit/repair.htm:

Even if you don't have a poor credit history, it's a good idea to conduct your own credit check-up, especially if you're planning a major purchase, such as a home or car. Checking in advance on the accuracy of the information in your credit report could speed the credit-granting process. You're entitled to one free report a year if you can prove that (1) you're unemployed and plan to look for a job with 60 days, (2) you're on welfare, or (3) your report is inaccurate because of fraud. Otherwise, a credit bureau may charge you up to $9.00 for a copy of your report. There are three large national credit bureaus that supply most credit reports: Equifax, Experian and TransUnion. It is best to get a credit report from each of them to ensure the accuracy is complete with each bureau. The following is information for contacting each credit bureau: Equifax 1-800-685-1111 www.equifax.com Experian 1-888-EXPERIAN (397-3742) www.experian.com TransUnion 1-800-916-8800 www.transunion.com

Additionally, according to a recent article "You Can Get Our of Debt", in Parade Magazine, "A recent survey found that 80% of all credit reports contain mistakes - 25% of them serious enough to result in denial of credit. Free annual credit reports from all three major credit bureaus [listed above] already are available to consumers in 13 Western states, on March 1, they will become available in the Midwest; on June 1, in the South; and on September 1, in the East. To order them, go to www.annualcreditreport.com; call 1-877-322-8228; or fill out and send a form to Annual Credit Report Request Service, PO Box 105281, Atlanta, GA 30348-5281."

It is likely that you are the recipient of an overburdening amount of junk mail - both paper and electronic. These envelopes and messages contain solicitations, and many times can be a tempting way to through you off your debt-reduction track.

First, make it a point to throw away or delete these solicitations as soon as you see them. Don't even open them! Second, request to be removed from these companies' mailing lists. According to the Direct Marketing Association, http://www.dmaconsumers.org/cgi/offmailinglist, you may request not to receive direct mail solicitations by mailing a postcard or letter stating your name and complete address to:

Mail Preference Service
Direct Marketing Association
PO Box 643
Carmel, NY 10512

For electronic message solicitations, click on the link in the message that allows you to 'unsubscribe' to any additional messages. Additionally, next time you speak with your creditors, tell them you want to be on their 'Do Not Mail and Do Not Call list.' This will help eliminate much of the junk cluttering your life, and some unnecessary spending.

In a recent report from Demos-USA entitled “Generation Broke, The Growth of Debt Among Young Americans,” by Tama Draut and Javier Silva, the following statistics regarding credit card use in the United States are frightening:

• Average credit card debt among indebted young adults increased by 55% between 1992-2001, to $4,088 (based on the value of the dollar in 2001).
• Young Americans now have the second highest rate of bankruptcy, just after those aged 25 to 44. The rate among 25-34 year olds increased between 1991 and 2001, indicating that Gen-Xers were more likely to file bankruptcy as young adults than were young Boomers at the same age.
• Among the youngest adult household with incomes below $50,000 (2/3 of younger households [18-24 years old]), nearly one in seven with credit card debt is in debt hardship.
• The average indebted young adult spends nearly 25 cents of every dollar of income on debt payments.
• Of all college seniors, 96% have credit cards.
• Nearly one out of every five 18- to 24-year-olds reported being late or missing payments on a loan within the last year.

While revising the One Paycheck at a Time eBook and paperback for the 2005 release, I realized that I could be more disciplined with some of my budgeting practices. For instance, in one chapter, I talk about having to be creative with the food in my pantry and to stretch out the time between trips to the grocery store. I decided this past week that I really needed to curb my spending this month and chose to skip last week's visit to the grocery store. Needless to say, I've eaten some strange food combinations, which I would never serve as a hostess to anyone, but nonetheless I saved about $70 from this exercise. My pantry is substantially lighter, and my waistline benefited as well since I didn't have any quick-fix or tempting foods around.

I've eaten a lot of soup, beans, and frozen meals that have been accumulating in my freezer. I quickly learned that I could pour the dried soup starters into my crockpot in the morning before work and come home to a fully cooked dinner. I hadn't considered using a crockpot for making pre-packaged soups. After adding my own vegetables, these meals came out to less than $1.50 per serving. Not a bad deal!

This week, however, it's time to go back to the grocery store once again. I still have about a week's worth of food left in the pantry, but I need to do a fresh fruit and vegetable shopping trip. To do this, I'll just visit my local grocery store. I have decided that visiting the warehouse clubs never really saves me money. The concept of buying in bulk is a good one if you have a large family, but I'm always tempted to buy other things that I didn't intend to purchase before walking in the door. Sticking to a shopping list is what works best for me to stay on track with my budget.

Instead of reading the circulars in the paper, I now go online and look for the weekly loss leaders at each grocery store. (Loss leaders are products that stores discount considerably - far less than the usual retail price and that which other stores are charging.) I then make a list and shop at the store that is offering the best deals that week on the products I use. I do take advantage of the buy 1 get 1 free deals when I know I will eat the food. For example, individual packets of Cream of Wheat, oatmeal, popcorn, and soups are items to take advantage of when on sale.

Like most people, I don't have the time to go to three different stores to save as much as I would like. So, reviewing the store specials and making a shopping list is the best I can do. The following websites offer weekly sales, email alerts, and some even have interactive shopping lists that you can print to take with you to the store:

www.Vons.com
www.Alterbertsons.com
www.Publix.com
www.PigglyWiggly.com
www.JewelOsco.com
www.kroger.com
www.gianteagle.com

The best way I know to stay within my budget when grocery shopping is to pay in cash. I will inform the cashier at the beginning of the purchase how much money I intend on paying. It's turned into a bit of a sport for me to guess at the total. If I have money left over and purchased all the items I had in my cart, I win! It's the simple pleasures of life that bring me joy.

What I know from this week's experience is that I won't be buying any cans of tuna for a while; I've had my fill.

Moving households, whether it is due to a job transfer or upgrading your home, and whether moving across country or across town, is an expensive proposition. Even when a new employer sponsors a relocation, there are hidden or un-thought-of expenses such as tipping or registering your vehicle in a new state. Here are six ways to reduce expenses during your next move:

1. Boxes, boxes, boxes
   Asking your local grocery, drug, or liquor store for their empty boxes is certainly one way to save money. You could easily spend $100 or more when buying new boxes. Consider visiting an apartment complex the first weekend of the month when new tenants are likely to move in. Tenants will be eager to rid themselves of their unpacked boxes and you can score by taking them off their hands. If your employer is paying for the move, be sure to save and store your new boxes for future use.
   
   Buy your packaging tape at a hardware store instead of a grocery store or office supply store. It can save you up to $5 per roll! And remember to be nice to whomever is helping you move, pack books in a few smaller boxes instead of one big box!
   
   
2. Truck Rentals
   If you are ambitious enough to move yourself, be sure to comparison shop weeks in advance of your move to get the best prices on truck rentals.
   
   At the time this article was written, the following online price quotes were researched from well-known companies offering truck rentals. Be careful to investigate how the company charges for mileage. Another hidden charge that you may not be aware of is that of dropping off the truck in a different city/location from where it was rented. Inquire with the truck rental store or website if there are special promotions or discounts for being a AAA or AARP member. Do call your insurance agent before you reserve any truck to determine if your homeowner's insurance will cover any damage to your furniture and if your auto insurance will cover the truck. This will save you worry and money, if you don't need to purchase additional insurance from the rental company.
   
   As an example, you could expect to pay the following charges for a 400-mile move:
   
   
   • Uhaul, www.uhaul.com, 14' Truck, $109 + $.40 per mile after the first 476 miles
   • Penske, www.penske.com, 15' Truck, $429 for unlimited miles, receive a 10% discount for reserving the truck online and another 10% for being a AAA member
   • Budget, www.budget.com, 15' Truck, $452 with a $100 refundable deposit, 515 miles are free
   
   Each of these companies does a great job of up-selling boxes, tape, hand truck rentals, and moving quilt rentals on their websites and in their stores. The boxes and tape can be purchased much cheaper if you plan in advance.
   
   In this scenario, Uhaul is the clear winner, but this is NOT always the case. Prices will vary due to availability, timing, and distances.
   
   And, don't forget … you are responsible for paying for the gas in the truck during your trip as well as upon its return, which can be an exorbitant cost with current gas prices. Ask the rental company for the average mile-per-gallon of the truck when you are reserving it to estimate this cost.
   
   
3. Storage
   Temporarily storing your belongings may be a necessary expense. There are a lot of options with storage facilities and you will want to weigh each aspect carefully. For example, if you are always strapped for cash, and there is the slightest chance that you will not be able to make the payment in a timely fashion, your belongings may be confiscated! Don't risk signing a contract with a storage company if you aren't confident you can make the payments. An alternate option here is to use your credit card for the recurring monthly costs, but ONLY if you pay off the balance in full each month to save on interest charges.
   
   When choosing a storage facility, consider the company's reputation, whether they have climate controlled units (if this is important to you), and what security the company can promise. Having easy access 24 hours a day may also be a key attribute for you depending on your circumstances.
   
   If you are renting a truck to move your belongings, be sure to ask what partnership pricing they have with a local storage facility. Sometimes storage can be obtained for as little as $1 for the first month with a 2-month minimum contract when you rent a truck at the same time. Buy a padlock for your storage unit at your local hardware store to save spending 3-times the amount at the facility.
   
   
4. Packing Fragile Belongings
   As with boxes, packing materials to protect fragile belongings can be expensive. A cost effective and space efficient tip is to pack these breakable items in your bathroom and kitchen towels, throw rugs, blankets, bed linens, and even shower curtains! This is a much better alternative to newspaper, which leaves ink residue behind. All of your linens can be washed and folded once you have moved into your new home.
   
   In an easily identifiable place such as a drawer of a piece of furniture, be sure to pack a complete change of clothes for you and your family members, toiletries, a complete set of bed linens, and toilet paper. This way, you won't be panicked trying to find the necessities when you first arrive at your destination.
   
   
5. Utilities and Address Changes
   Remember to cancel your old utility services, start new utility services, and change your address. You may uncover some forgotten money when canceling services if you were required to pay a deposit when you started your service. Be sure to end the services the day AFTER you move out. This may incur a few dollars of extra costs, but typically these companies can not ensure a cut off time, and you don't want to be stuck without electricity or hot water while you are still in your place. On the same note, you may wish to schedule set-up of your utilities at your new residence the day before you arrive to be sure everything will be working when you arrive. Here is a list of common utility companies to contact. The property management company or Chamber of Commerce in the area where you are moving can give you local company numbers.
   
   
   • Electric
   • Gas
   • Water
   • Phone
   • Cable
   • Garbage
   
   Also, if you are moving into a subdivision or condominium complex that has a private trash collecting service, you may be charged for the pick-up of your moving boxes! This cost can be $25 or much higher, depending on the number of boxes. Check this out before putting your boxes out at the curb. You may want to consider donating your boxes to a new neighbor with a 'For Sale' sign in front of their home.
   
   In addition canceling and starting new utility services, don't forget to change your address with your:
   
   
   • Bank
   • Credit Cards
   • Utility Companies
   • Insurance Companies
   • Doctors
   • Magazines
   • U.S. Post Office (at your old location)
   
   
6. Save ALL Moving Receipts
   If your move is not being paid for by an employer, the incurred expenses may be tax deductible. According to the IRS website, www.irs.gov, "You can deduct your allowable moving expenses if your move is closely related, both in time and in place, to the start of work at a new or changed job location." The IRS has an interactive questionnaire, which determines whether your move may be deducted on your taxes. http://www.irs.gov/individuals/article/0,,id=132125,00.html Contact the IRS or your tax preparer if you have specific questions relating to your move.
   
   

When was the last time you read the volumes of paperwork you receive from your bank in regards to your credit card account? The below list of terms isn't intended to be a complete list, but rather a compilation of research that was conducted when trying to understand my own financial accounts. If you have terms you would like to see, please let me know and I will add them! Additionally, after this newsletter, this list of terms will be available on the One Paycheck at a Time website by

Adjusted Balance Method
A method occasionally used by banks to calculate the interest due on a credit card or other form of open-end credit. This method uses the billing period for the previous period. It then subtracts any payments made since the end of the period. For example, if your previous ending balance were $1,000 and you made payments of $400, your adjusted balance would be $600.

Annual Fee
A charge for services rendered similar to a membership fee. A fee that you pay a lender or credit card company for the privilege of credit. Annual fees generally apply to forms of open-end credit such as credit cards or home equity lines of credit. Typical credit card annual fees are $0 to $100. If you continue to use credit cards, consider negotiating with your lender to waive this fee or seek another lender. It may be cheaper to pay an annual fee if the interest rate on your card is low enough.

Annual Percentage Rate (APR)
The yearly percentage rate of the finance charge. It is not unusual for credit card companies to change an interest rate especially if tied to other interest rates such as a prime rate or Treasury Bill rate. This is referred to as a variable rate. If an interest rate is locked in at a specific rate, it is referred to as a fixed-rate.

Billing Period
The number of days that a lender uses to calculate the interest you owe on a loan or credit card.

Calculating an Average Daily Balance
A method widely used by banks to calculate the interest due on a credit card or other form of open-end credit, such as a home equity line. To calculate, add your daily balances for each day in a billing period, which is usually 30 days. Divide by the number of days in the billing period. The result is your average daily balance. The lender multiplies this by the periodic interest rate to calculate how much interest you owe for the month. For example, if your total of daily balances equals $30,000 for a 30-day period, your average daily balance is $1,000. If the periodic interest rate is 12% (1% monthly), your interest expense would be $10.

Cash Advance Fee
A fee charged by a credit card company for the privilege of drawing cash from your borrowing limit. Unlike a regular charge, cash advances begin incurring interest from the day you take the advance. The interest rate is often the maximum allowable rate.

Ceiling Rate
The maximum interest rate that a lender can charge you. This rate is usually automatically imposed if you become delinquent in your payments.

Compound Interest
Interest which is calculated not only on the initial principal but also the accumulated interest of prior periods.

Consolidation
Loan consolidation combines multiple loans with higher interest rates or larger payments into a single loan with a lower interest rate or payments. Loan consolidation is similar to a refinancing but is usually done to reduce payments or the interest rate. Other reasons to consolidate include switching to a fixed-rate loan from a variable-rate loan or vice versa and changing the length of the loan term.

Credit Card
Any card that may be used repeatedly to buy products and services on credit which is typically issued by banks, retail stores, and other businesses.

Daily Balance
The amount you owe at the end of the day on a credit card or other form of open-end credit, such as a home equity line. The amount changes whenever you make a payment or use credit. Lenders calculate your interest based on an average of your daily balances over a billing period.

Finance Charge
The dollar amount you pay to use credit.

Fixed Rate
A loan in which the interest rate does not change during the entire term of the loan. For an individual taking out a loan when rates are low, a fixed rate loan would allow him or her to "lock in" the low rates and not be concerned with variable rate fluctuations.

Grace Period
A pre-determined specified length of time, typically 20-25 days, during which you can pay your credit card balance without paying a finance charge. The additional period of time a lender provides for a borrower to make payment on a debt without penalty. Check with your card company to find out how long your grace period is, and whether it applies only if your balance is paid in full.

Interest
The fee charged by a lender to a borrower for the use of borrowed money, usually expressed as an annual percentage of the principal; the rate is dependent upon the time value of money, the credit risk of the borrower, and the inflation rate.

Introductory Rate
Rates offered for a temporary period and are used as a marketing tactic by creditors to generate new business. The length of time, or introductory period, that a teaser rate is available depends on the product. For credit cards, it may be three to six billing periods or months. For auto loans, the teaser rate may apply for the entire loan term, depending on levels of dealer inventories.

"Over the Limit" Fee
Lenders also charge high fees on any charges that temporarily exceed the amount you are allowed to borrow. Like cash-advance fees, these are fees that you pay for the privilege of having access to credit that is more than your borrowing limit. These kinds of charges should be avoided, if at all possible.

Principal
The amount borrowed, or the part of the amount borrowed which remains unpaid (excluding interest). The part of a monthly payment that reduces the outstanding balance.

Periodic Interest Rate
The periodic interest rate is the fractional amount of an annual interest rate. It is used to calculate interest for a period shorter than a year. For example, if you calculate interest on a 360-day year, you have 12 billing periods of 30 days each. If the annual interest rate is 8%, the periodic rate for one month is 0.67% (.08/12). The periodic interest rate for one day is 0.022% (assuming a 360-day year).

Secured Credit Card
A credit card linked to a savings account. The funds contained in the account may be claimed by the company issuing the card in the event that the holder fails to make the necessary payments. This arrangement allows the issuer to take on riskier credit card applicants.

Simple Interest
The interest calculated on a principal sum, not compounded on earned interest.

Variable Rate
Any interest rate of a loan that changes on a periodic basis. The change is usually tied to movement of an outside indicator, such as the prime interest rate. Movement above or below certain levels is often prevented by a predetermined floor and ceiling for a given rate also called adjustable rate. For example, you might see a rate set at "prime plus 3%." This means that the rate on the loan will always be 3% higher than the prime rate. Prime rate changes regularly to take into account changes in the inflation rate.

When shopping for major appliances consider researching your options before walking into your local appliance store. Whether you're in the market for a computer, refrigerator, washer/dryer, or a vacuum, the process for comparison shopping is the same. Save yourself at least 10% - 80% on appliances by planning your purchase - this could equate up to $1000 or more a year in savings.

To save money on any appliance you are going to purchase, answer the following questions:

• What features do you want?
• When do you really need to have the appliance?
• Will you consider buying a second-hand unit?
• What price range are you willing to pay?

With so many different types of sales running all the time, why would anyone ever pay retail? In most cases, with a little research, you may never have to pay retail again.

Buyers beware -- not all sales are created equally.

% off sale price
Some sales offer substantial savings such as 50% off already reduced merchandise which is probably as deep a discount as you can get. It may take some time and patience once you're in the store, but these sales can really be wonderful when buying necessities such as back-to-school clothes and even for off-season holiday shopping.

Buy one, get one 50% off
The buy one, get one 50% off is my least favorite sale. It is essentially a way for stores to move their merchandise without offering any great incentive to the shopper. It's just another way of saying get a 25% discount when you purchase two items. Unless you're shopping with a friend, family member, or neighbor who needs the same thing, it just isn't all that exciting of a sale. You rarely need to buy two of one thing. I would also group the buy two, get one free in this category - uneventful.

Two-for-One
Lately I have noticed that grocery stores have pulled out all the stops to offer their products at a two-for-one deal. Almost every shelf is lined with a brightly colored sale sticker offering two-for-one. But again, more often than not, I only need one item not two! I can't speak for all the stores nationwide since they all have different policies, but in my case, I found that if you buy only one item instead of the two that they're pushing, the one item is half the price. For example, if orange juice is advertised as two for one at $4.00, one might be $2.00 - ask the cashier! If you find that the one item is indeed half the price, tell the cashier that you no longer want the second item. They will put the food back on the shelf. no worries.

BOGO
Another marketing incentive is the buy-one-get-one-free (BOGO) option. If you dine out with a spouse, colleagues, or a friend, consider eating out at restaurants offering a buy-one-get-one-free coupon. Truly, if you tend to eat out often, this could be a substantial monthly savings. Just commit for one week that you will not eat out unless you have a buy-one-get-one-free coupon. Go to www.ValPak.com, search for restaurants by zip code, and ooo la la instant printable coupons for restaurants in your area! A word of caution, no matter how frugal you may be, I don't recommend using a coupon on a first date. Know the difference between a special event versus going out to lunch with a co-worker!

Free After Rebate
Although the free after rebate takes a little work, this can also be quite a good deal. I notice these offers most often on small electronics. In fact, the modem I'm currently using was free after submitting a manufacturer's rebate. Sure, I had to wait 8 weeks for the check to come in the mail, but I'd rather spend 15 minutes on the front-end of the deal doing a little bit of work so that I can get my money back.

Free Samples
One of the best ways to try out a product is when it is free! From laundry detergent to toothpaste, companies are anxious for you to try their product. If you live in a major city, free trial mints/gum, aspirin, soda, etc. are passed out on street corners from time to time. If you want to get more free stuff, try www.StartSampling.com.

Online Sales
Whether you are researching to buy in a physical store or looking to buy online, always look for product coupons. Simply type in the product you are looking for and the word "coupon" into a search engine like yahoo, msn, google, or ask jeeves. For example, recently I decided to have a few personal photographs enlarged to place on a wall in my home. I did a search online for "photograph coupon" and found a 40% discount on my purchase at www.kodakgallery.com. The entire purchase took 2 minutes longer because I searched for a virtual coupon which saved me $20. Saving $20 in 2 minutes on something I was going to purchase anyway is exciting!

If you cannot find a coupon after doing a search, try using a shopbot, a comparison pricing tool, which finds the lowest price in their network for the product you are searching for. Some common shopbots include www.pricescan.com, www.pricecheck.com, www.pricegrabber.com, and www.smartshopper.com.

No Sale?
If a store isn't offering a sale, don't hesitate to ask the store manager if the price quoted is the best value they can offer. Once you ask the question, remain quiet and let the store manager respond. Don't look away, don't interrupt, just wait for his/her response. This approach takes practice, but you can save a lot of money by learning how to negotiate. You may flop the first few attempts but remember, you're the customer and you can always ask.

For example:

At an oil change garage or dry cleaners:

"I have a coupon for your competitor down the street, will you accept their coupon?" If the answer is yes, then ask "Do you offer any further discounts?"

"Do you have any discounts for new (or regular) customers?"

"I received a credit card offer from Bank X in the mail which offers a rate that is 1% lower than what I'm currently paying with no annual fee. I'm considering switching to this card unless you can offer the same or better deal. What terms can you offer me?"

"Since I'm buying more than one piece of furniture [on sale of course], can you arrange for free delivery for me?"

Is this the best deal you can offer?

How much does your commute cost you each month? More importantly, how much of your personal time do you spend commuting each day to and from work?

A few years ago, I lived in the Chicago suburbs and commuted into the city each day for my job. I thoroughly enjoyed the hustle and bustle of the city lifestyle. I couldn't afford to live downtown and walk to work, so I commuted to work from a suburb about 20 miles southwest of the city.

The commute would start off by driving 5 miles to the train station. If I timed it right, I could accomplish this segment in about 10 minutes.

** Cost: At 10 miles a day x approximately 22 work days a month = 220 miles a month

Assuming this is roughly 10 gallons of gas @ $3 per gallon this could total about $30 per month. The next part of my commute was walking from my paid parking spot to the train station which took about 5 minutes.

** Cost: Parking ran about $30 per month

All the commuters would be lined up on the platform waiting for the train for an 18 minute express commute downtown. Typically the train was on time but there were some horrible weather days that caused some significant delays

** Cost: Monthly train ticket was $75 per month

Once the train reached Union Station in the heart of downtown Chicago, there was about a 20 minute walk to the office. Some of my fellow commuters needed to catch a bus or taxi since their offices weren't within walking distance of the train station.

** Cost: Free for walking, roughly $50 per month for the bus or taxi Total Cost:

• This type of city commute can easily exceed $200 per month not including the cost of car payments, insurance, or maintenance.
• If you live in a smaller city in the U.S., your wallet is probably getting hit hard by the gasoline prices. In a month of commuting by car, you could spend close to $250 per month or more.

• 2 hours a day
• 10 hours a week
• 40 hours per month (one full work week!)
• 480 hours per year (12 work weeks a year!)

Can you imagine having 20 hours more time per month if you could cut your commute in half? Wow!! What would you do with that time and the savings in money? Spend more time with your family? Take a class? Make time to exercise? Just think of the possibilities!

Consider how you might be able to cut your commute time and costs:

• Can you work from home some of the time?
• Can you find a job closer to your home?
• Can you move closer to your job?

Depending on your circumstances, you may find that getting a job closer to home may be worth taking a slightly lower salary if you're saving the money and time. Only you know what is best for your unique situation take all of these different ideas into consideration.

It was painful to calculate the cost of not being paid 40 hours per month for a commute to and from work. I would try to read books, listen to books on tape, read the newspaper, and try to convince myself that the time on the train could be productive if I wanted it to be. I rationalized that it was quiet time just for me. Where I lived was of no consequence to my employer; I was just expected to show up on time and do my job. I had a choice to make of whether I wanted to continue this lifestyle or not. I have had to make some tough lifestyle decisions but decided I would never have a commute in excess of 15 minutes each way to the office again.

If you decide to take steps to reduce commute costs you may find that you not only saved money, but you have more of your day to do what you want. You might even discover you do have the time to focus on accomplishing that goal you've been putting off because you just couldn't find the time.