Credit Guy

Prepaid cards are gaining popularity among college students (and their parents) for several reasons. First, with a prepaid card, you don’t have the risk of going deep into debt, high interest payments, or late fees. Second, if parents are involved in the finances, they can easily add money to the card online. And finally, under the new credit card law that goes into effect this month, students do not need parental consent to get a prepaid card like they will for a traditional credit card.

A prepaid card, sometimes called a prepaid credit card or a prepaid debit card, acts like a debit card but without the bank account. Prepaid cards are part of either the VISA or MasterCard debit network and accepted just about anywhere. They can also be used at ATMs, internationally, or to shop online.

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When you think of a certificate of deposit, you probably think, safe, boring, and low interest rates. And that does describe most CDs, including all of the CD interest rates we track. But Everbank offers a unique option among CDs–the World Currency Index CD. With Everbank’s World Currency CDs, you not only invest in certificates of deposit, but you also gain exposure to a basket of foreign currencies. So how do these CDs work?

As with most CDs, Everbank’s foreign currency CDs offer a fixed rate of return. The fixed rate depends on the length of the CD and the basket of foreign currencies you choose. For example, the commodity index CD is comprised of equal amounts of currency from 4 commodity-rich nations (Australia, Canada, New Zealand, and South Africa). It currently pays a fixed rate of 2.17% APY on 3-month CDs and 2.29% APY on 6-month CDs. In contrast, the Viking Index CD is comprised of currencies from 3 Nordic countries (Norway, Denmark and Sweden) and currently pays fixed rates of just 0.24% and 0.26% APY on 3 and 6-month CDs, respectively.

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If you’ve ever read the King James Bible, then your mind is probably filled with thousands of memorable quotes that you recognize everyday in society.  While actively practicing “turning the other cheek” or “treating your neighbor as you would want to be treated” may not really affect your financial bottom line, there is one that surprisingly does.  Providing a helpful favor for family and friends when they need it is not only the moral thing to do, it’s also the best thing for your wallet.  You may be shocked to find out that it is actually “better to give than to receive” in more ways than one.

The actual value of a favor is unique to everyone involved.  The person needing the favor may be in a real jam and even the smallest of things can help them out of it.  On the other hand, the person providing the favor may not even think of it as an inconvenience, so the cost is virtually zero.  In taking a look at a few real life situations where a favor can actually be defined in dollars and cents, you’ll see that when the opportunity to provide a favor shows itself, you should jump at it–financially speaking of course.

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Do you know how much your 401(k) is costing you? Chances are the answer is no. Because a 401(k) does not send out a monthly or quarterly bill, it’s easy to forget about the fact that these retirement accounts can cost plenty. Most employers absorb some of these costs, but many of them are passed on to employees in the form of higher expense ratios for the mutual funds in the plan. While in the past it was difficult to get at this information, and almost impossible to compare 401(k) plans, there’s now a free tool that makes this a snap.

BrightScope.com, a refreshingly new website still in beta testing, evaluates your current 401(k) plan and compares it against other 401(k) plans provided by employers that are competitive with your own.  As I don’t have a 401(k) retirement plan, a random search provided me the plan specifications for Geico Insurance.  Immediately, I land on a page which tells me that had my 401(k) been optimized at its full potential, I could earn an additional $225,300!  I’m also told right away that compared to other plans, Geico’s rates as slightly above average with a score of 63/100.

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A well-stocked pantry is key to providing your family with a variety of healthy meals on a budget. On any given evening, you’ll be able to walk to your pantry and find the ingredients for a meal that will make your family enjoy dinner and eating at home. Certainly cooking your meals at home is a great way to save money. So how do you get your pantry in shape? I’ve listed some tips to help you build a pantry stockpile.

Make A Master Menu
First make a list of the menu items that your family prefers. Also include recipes that you make for special occasions or ones that you would like to try. From this master menu you’ll be able to compile a list of all of the ingredients that you should stock in your pantry. Don’t forget to include stapes like flour, milk, and bread.

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Now that January 2010 has come to a close, it’s time to take a look at the best of the best from the past month. It was a busy month around here. We finished our giveaway of 10 ultra flip camcorders in conjunction with American Express. And now we are in the midst of an iPod Tough Giveaway.

So let’s start with the most popular posts from the Dough Roller last month:

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Wouldn’t it be great if you could boil down into one simple goal everything you need to get your finances on the right track? Like what they call a swing-thought in golf, what one thing should we keep in the front of our minds when it comes to money.

The possible list may seem daunting. From retirement to mortgages and credit cards to insurance, our financial lives have become increasingly complicated over the last 20 years. So how can we possibly boil everything down to just one idea? Let me explain.

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Properly managing your money is just as important now as it’s ever been and the number of money managing sites continues to grow each day.   Quizzle.com, a website designed to help consumers value their homes, better manage their budgets and offer a free credit report and score twice a year has been around for a couple of years now and doesn’t get nearly enough praise for the tools available to consumers.   Considering all of the available options in monitoring your credit and managing your finances, Quizzle has done a fantastic job in separating itself from the competition.  So what makes Quizzle so awesome?

Free Credit Score and Report

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As Valentine’s Day approaches you may find that your thoughts have begun to turn to finding the perfect gift for that special someone in your life. Expensive Valentine’s Day gifts may show your loved one how much they mean to you, but they will also make a pretty hefty dent in your pocketbook. So what is the frugal-minded person to do for Valentine’s Day? Giving a handcrafted gift can be the perfect way to give your sweetheart something really special without wreaking havoc on your finances.

Here are a few ideas:

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This is a special post from debtkid reader Kimberly. Great tips for setting at wedding budget! Just in time for me as I got engaged at the end of last year!

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