Today February 22, 2010 the first phase of the Credit Card Accountibility and Responsibility Disclosure act goes into affect. Given the time banks had from when the law was actually passed last year many consumers have already been hit with new fees and higher interest rates but as many things government it is better than nothing. And to be fair it does create some real consumer protections on a going forward basis that did not previously exist. For the details of what rules are active today and when the remaining rules phase in click this link, credit card reform passed and what it means to you.

Matt

I found an interesting article on yahoo today. I am sure it will not stop most of us, myself included, from enjoying these from time to time but it may cause you to reconsider how often. In the article it explains how text messaging is a cash cow for cell phone carriers. Especially if you are paying per message. The other lesson I took away from this is that selling a product can be very profitable. So maybe after reading this you will find your own “bottle of wine” and present it in a way that adds value. This way you are the one making the 60 to 200 percent markup. To conclude I too away the following from the article;

1 – Movie theatre popcorn is outrageously overpriced. Bring some snacks from home and pop a bag of the fluffy white stuff when you get home.

2 – When it comes to over the counter medication buy the store brand, you will save several dollars each time and the savings only gets better if you have children. Trust me I know from experience.

3 – When it comes to wine and other spirits you will save significant money by drinking these  at home. Even better have some friends over for a glass of wine and some good conversation.  I definitely have taken notice of this since a bottle Corona at a restaurant or bar is usually $5.00 to $7.00. I can get a 12 pack at the local package store for $18.99 which is $1.58 per bottle. Makes you think twice about going to the bar.

No one is saying you can not go out and enjoy yourself from time to time but if you are buying these items and then using a credit card to purchase them it gets even worst. So make a budget and if you have some cash left over at the end of the month, then treat yourself to a drink or dinner.  And if you were buying them often stash some of that cash away in an emergency fund or investment that will allow you to escape the rat race.

Yahoo.Com – Click Here To Read

Matt