In addition to the push for growth and job stability, Citigroup also wants to stay focused on the reorganization of its credit card division and the retail banking businesses located in the United States. This is a good step in the right direction for the bank who had to cut down on their employee counts. The bank also lost many employees to competitive banks during the extensive layoffs during their extended financial crisis.

Since the employee loss, Citigroup was ranking behind other banks in its business, including in the investment banking sector, where they continue to remain in seventh place in revenue.

It is good news for the industry unemployed who are still hard-pressed to find work after the banking industry meltdown. With 500 jobs on the horizon, there may be increased hope that other banks will also be re-strengthening their business growth and looking to hire more staff in the near future.

Citigroup (NYSE: C) Set to Hire 500 New Employees was created by and is property of American Consumer News.

The move is set to help create a stronger economy and more jobs. JPMorgan’s head of business banking spoke to small business owners during the announcement and assured the group there would be ‘no hoops to jump through’ in order to get the interest rate reduction. Small businesses applying for new lines of credit of up to $250,000 are eligible for the program. Also, any existing customers who increase their lines of credit by $10,000 or more will be eligible for the discounted rate.

Small business lending has been a hot topic as of late. There has been more pressure on banks to lend to small business. Creating such loans would help decrease the unemployment rate but bankers have stated they are not finding enough borrowers who are creditworthy for a loan. Some banks, including Bank of America (NYSE: BAC), have suffered sever losses from small business defaults.

After meeting with many small business owners, JPMorgan Chase has found that the morale among small business owners has been improving and many of them are planning to hire with in the next year. Also, it is reported that several banks have started to lend more to small businesses. JPMorgan’s loans have risen 31% since last year for a total of $2.1 billion. Bank of America’s loans also increase 18% from a year ago.

Other banks are considering upping their lending to small businesses including US Bancorp, PNC Financial Services, and Capital One Financial Group. US Bancorp has stated that it began to train 3,000 branch managers in the last two years to handle small business lending. “We really weren’t paying enough attention as we should ” to small-business loans, said Kent Stone, head of consumer support services at U.S. Bancorp

JPMorgan Chase (NYSE: JPM) Offering Hiring Incentive to Small Business was created by and is property of American Consumer News.

This year’s top financier of the Charlotte, North Carolina’s PGA Tour Event is Wells Fargo (NYSE: WFC). The San Francisco-based bank will be spending $7 million on the tour and is the tournament’s biggest sponsor. However, despite the large check, Wells Fargo hopes to remain mostly anonymous and viewers from television will only hear promotions of the Quail Hollow Club, the host club’s name.

Initially Wachovia had been the company to provide the golf tournament’s sponsorship and had put its name all over the event, even calling it the Wachovia Championship from 2003 to 2008. This year the tournament will be called Quail Hollow Championship instead. Wells Fargo had taken its name off of the event in 2009 due to concerns of negative publicity from sponsoring a golf event while it was receiving bailout funds from the government. The $7 million annual agreement to sponsor the event through 2014 was part of a contract extension Wachovia signed in 2008. Wells Fargo acquired the contract in 2008 when it acquired Wachovia and plans to see it through until the end. The bank just plans to do the sponsorship a bit differently than in the past by remaining rather mum about their affiliation with the event, even though they are still set to write an enormous check.

Wachovia wasn’t the only company who underwent criticism for its sponsorship of golf tournaments. Other companies including Morgan Stanley and Northern Trust were also pointed to by Congress for wasting money during times of such financial crises. Companies that had very little to do with the financial meltdown were still being blamed for their tie to PGA sponsorships. The PGA Tour actually went to Washington to speak with legislators about the advantages of sponsoring golf tournaments. They contended that sponsoring the tournaments were not a sign of excess or flaunting. Since Goldman Sachs and Lehman Brothers were not involved in the golf sponsorships, it seems the golf community won the debate. Past banks that sponsored the golfing events are still involved though scaling back. Many are taking their names off of the big events but still acting as sponsors.

Wells Fargo (NYSE: WFC) Takes $7 Million to Charlotte’s PGA Tour was created by and is property of American Consumer News.

The bank tax as it is being called will be levied only on the largest financial corporations, defined as those with combined assets across all their controlling interests that amount to more than $50 billion. When this is taken into consideration, the statistics reveal that the majority of the tax revenue (about 60%) will come from the top 10 largest firms.

The Opposition to the Tax.

Of course a tax of this nature is bound to draw severe criticism from those likely to be affected by it. The banks argue that they have in fact already repaid the sums borrowed under the TARP (Troubled Asset Relief Program) and point the finger at the car industry which continues to struggle to keep its business intact.

In fact there seemed to be a mad rush to repay those TARP funds that the financial industry so desperately needed only a short time ago. The major players J.P. Morgan Chase, Wells Fargo, Citigroup, Morgan Stanley and Bank of America were all trying to rush each other to the head of the line in December 2009 to repay the money owed and all this a whopping two years ahead of the deadline.

The logical question to ask is “why was the TARP money repaid early?” The only answer that makes sense seems to be because it would look bad if banking executives continued to be paid millions in bonuses while the debt was outstanding.

What Does This Mean for Consumers?

The American consumer must take those facts into consideration and try to make sense of them. The banks are angry about the Financial Responsibility Fee that came as a result of their bonus payments and they warn that the tax can be passed on to consumers in the form of lower interest on deposits, higher interest on loans and higher or additional fees. The government counters this argument by highlighting that that tax will only be levied on the largest of the banks so taking this route would only make them less competitive.

The affected banks are in talks to pursue legal action against the tax and simply will not take it lying down.

In the meantime the consumer should be on the lookout for sneaky increases and cut backs on services that were once free. Shopping around for the best rate and price will continue to be the best way to save money in the future.

Who Will Pay President Obama’s Bank Tax? was created by and is property of American Consumer News.

They have options that can help fit your situation. Your job is to contact several of these institutions and find a loan that will fit your circumstances.  Do not forget to check your local credit union as well.  Banks and credit unions will offer you the best rates available.

Mortgage brokers. Just as an independent insurance agent offers policies from several different companies, a mortgage broker operates on the same principle.  They have many more options and loan products from which you can choose.  Basically, you will pay higher fees with a mortgage banker because that is the way they make their money in the form of origination fees and servicing fees.

These types of lenders have no large bank which backs the loans that they process, so they must use backing outside of their company.  You will find these in the federally guaranteed mortgages of a Fannie Mae or Freddie Mac type.  Most often, once the mortgage has been closed, you will find them selling the mortgage to another bank.  This is merely a transfer and does not change the terms of the mortgage itself.

Determining which one is right for you is not a cut and dried decision.  It is a process that depends in part on your comfort level in dealing with these institutions.  Many times, a real estate agency can make recommendations that are neutral and reliable, because of the number of real estate deals that they see.  They are not immune to the good and bad that goes on in the mortgage funding business.  If you take your time and ask around, you can find a good source of money for your home loan in your community.

Mortgage Banker or Bank for Your Home Loan? was created by and is property of American Consumer News.

1. Moonlight:  One way to supplement your income is to start your own side business where you can utilize the skills you have acquired while “on the job.”  There are many benefits to creating your own business, one of the biggest being the tax deductions that can save you thousands of dollars per year.  Another benefit to moonlighting is that you do the work when you can fit it in, and you charge however much you want to charge.  Go to Craigslist to find moonlighting possibilities in your area and begin your own company.  Eventually, you may be able to quit your day job altogether. 

2. Ask for a Raise: What easier way can you think of to get more money?  Although for some, this may seem impossible, for most it will be easy to achieve without having to do more work.  To be taken seriously, be prepared when you approach your boss.  On a blank sheet of paper, create two columns.  One column will list all of the jobs that were part of your job description when you got your last raise.  In the other column, list all of the jobs that you have taken on in addition to the previous jobs.  Be thorough and hold nothing back.  (Quantity often counts more then quality when negotiating.)  Approach your boss and show them the list.  Let them know that you are willing to continue the extra jobs, but only if you can get paid for them as well.  They will most likely ask you how much more you would like to be paid.  Have a high number in mind ahead of time so that when your boss comes back with a lower amount, you won’t be totally disappointed.  Then again, how stoked will you be if you get what you are asking for? 

3. Change your deductions at work:  When you began working at your job, you probably filled out a W-4 (also known as an Employee’s Withholding Allowance Certificate).  This form is needed to know how much money an employer is going to deduct from your paycheck.  If you would like to take a little bit more money each pay period, go to the person who prints your payroll checks and let them know you would like to fill out a new W-4.  When you do, increase the number of deductions you claim.  This may mean a smaller tax refund at the end of the year, but it also means you will have more money in your pocket daily that you can spend or save as you see fit.  Why loan the money to the government all year long when you can use it to turn your own profit? 

4. create an Online Store:  Consider opening an eBay store for auctioning sellable items.  You can find a plethora of products to auction at Freecycle.org, a Yahoo company where people go to get rid of items they no longer want.   If you sign up for an account at eBay, be aware that you can also set up an online store at the same time listing all of your different products.  Paypal can also help you set up an online store for free and it is easy to link to your personal / business website.  Cafepress and Amazon are two other sites that can help you set up online stores quickly and easily. 

5. SWITCH YOUR SAVINGS ACCOUNT TO A MONEY MARKET ACCOUNT:  Why get less then 1% interest on your money when you could be making much more?  Begin shuttling your money into a money market account and you can see the interest quickly accumulate.  I recommend ING Direct since they have a wide variety of high-yield savings accounts and mutual funds.  ING Direct’s Global Real Estate Fund has an average 19.94% growth since its November 2001 inception date (a highly risky money market account), while it’s average Money Market Fund has had an average growth rate of 4.03% since it’s April 1994 inception date (a much safer rate).  Having recently acquired Sharebuilder (where you can trade stocks yourself), Sharebuilder’s Money Market Account through ING Direct has a 7-day yield as high as 3.18% as of February 20, 2008.  The best thing about using ING Direct and Sharebuilder is that you can transfer as little as $25 to your account on a monthly basis and have it transferred back to your checking for free within 24 hours of the request date. 

6. MAKE BETTER SALES:  Everybody sells something whether they intend to or not.  When you tell your family about a great movie you saw and convince them to go see it, you have just sold that movie.  Sincerely suggesting a product that you believe someone will benefit from is selling.  When dealing with customers, you want to find out what they are looking for so that any sale you make to them is one that they will love and not return.  Here are a couple ways to make that sale even better. 

6. 1. NEVER SELL THE FEATURES…SELL THE BENEFIT.  A customer does not want to hear what the features of a product are.  Features are boring!  They don’t care if it’s the best product of its kind on the market, or even if it’s the best priced.  They just want to hear what the product is going to do for them…how it’s going to make their life better.  If you go on and on about your product’s features, you will lose your customer’s attention and you will lose the sale.  All your customer wants to know is WHY they should buy what you’re selling, and focusing on that is what will close the sale. 

6. 2. USE SUGGESTIVE SELLING TO INCREASE EACH SALE.  No matter what your customer is buying, always suggest a complimentary product BY NAME.  By suggesting to your customers that they will be happier trying new products alongside the one they are buying, you open up the opportunity for future sales, and increase the current sale.  By naming the product, you give them a chance to visualize what they are buying.  This is a common trick used in restaurants.  When a waitress asks a customer if they would “like dessert with that,” the common response is no.  The customer is full and they can’t imagine taking another bite of anything.  But, when a waitress suggests a piece of “chocolate mud pie for dessert,” the customer is no longer thinking about how hungry they are.  They are thinking about how good chocolate mud pie might taste.  Use this trick when suggesting other products and you improve the odds of increasing the sale. 

Now that you have an idea of how to greatly increase your income, also check out the other three articles in this series:  “Cut Your Expenses,” “Get the Best Deals,” and “Supplement Your Income.”  Also check out “20 Free Things You Can Do to Put Cash In Your Pocket” for more ideas. 

Keep Your Money to Yourself Part 4: Make More Money was created by and is property of American Consumer News.

1. Affiliate Programs: I mentioned Affiliate Programs in Part 2 of this series, and I am revisiting this issue because of its effectiveness. You see, even though having affiliate links on your website can save you money, it can also supplement your income when your customers, family and friends shop through your website. The best part about being an affiliate is that you are able to find out first what discounts an affiliate company is offering. By placing linked coupons on your website, your website will soon become the place where your acquaintances will look first for the best deals, thus supplementing your income when your affiliates pay you a commission. A few excellent choices are Commission Junction, Affiliate Showcase, and ClickBank.

2. Google AdSense: For anyone running a website or blog who does not want to go to the trouble of searching for and picking out affiliates, then Google AdSense is the perfect solution. When you sign up, you go through a three step process to create an HTML that you then paste on your website or blog. Google AdSense then reads the tags you create for your site and posts related ads that it changes constantly. It’s a sweat free way to make extra money that takes you less then a half hour to set up.

3. Blogging: Whether you own a business or are just looking to make some extra cash, a blog can actually help you achieve both goals. By writing something interesting and informative, you can build up a loyal readership that can easily turn into a clientele. Post some affiliate banners or ads from Google AdSense on your blog pages, and soon you will be adding bit by bit to your bank account, plus building your expertise and credibility among your “fans.” Check out HubPages or WordPress for a few places to get started blogging for free.

4. Freelance Writing: By occasionally writing articles for websites like Helium or Constant Content, you will be able to supplement your income a little at a time. Both companies sell articles to other websites giving you cash in your pocket as well as giving you a chance to become an expert in your field. Post links to your articles on your websites and your colleagues will soon believe you are an expert and look to you first for advice on shopping.

5. Surveys: If you have very little time to create a supplemental income, then I recommend you try filling out surveys. They are delivered to your e-mail inbox and you fill them out on your own time. (Just be sure to create a new e-mail to receive these offers or you will soon be inundated.) MyPoints has many wonderful survey offers which they give you points for, and those points can be turned in for gift certificates. Also check out Cash Crate for a plethora of offers that will net you cash fast.

6. Secret Shopping: Secret Shopping is a valuable tool to many businesses when they want to know exactly how customer-oriented their employees are. Obviously, when they watch their own employees to decipher this information, an employee is going to be on their best behavior. Many companies hire Secret Shopping Companies to gather this information on the sly. When you apply for these assignments, you are given a time frame, a scenario to play out, and a target to watch and review. You complete the project in your free time and then fill out a survey later. The Secret Shopping Company pays you once a month (usually the month after you complete the shop). Just be sure to NEVER PAY to become a secret shopper, as making you pay is a common Secret Shopping Scam. I’ve worked with SG Marketing, Bare International and Shop N Chek in the past, and all three have paid when they said they would. Also, check out this thorough list at Moms Wallet for other companies.

7. Online Auctions: Whether you are looking to sell a business product or something from your home, online auctions are a great way to move your items without spending a lot of time or effort to get the best price for your goods. Sign up for a free eBay account and you will soon be moving your product without investing much of your own capital. If you do go this route, be sure to always respond quickly to any comments and to do your best to keep your ratings up. By doing so, you will make more sales since ratings give people a sense of confidence in you and your products.

8. Use a Card that Offers Cash back Bonuses: Although I brought up getting a rewards card in Part 1 of this series, it bears mentioning again. A rewards credit card is always a better decision then a regular credit card since you can receive annual cash bonuses. Discover, Citibank and Chase all offer low interest cards that have no annual fees, plus you can cash in any time of year.

Be sure to check out the first two articles in this series (Cut Your Expenses and Get the Best Deals). Also, come back next week for the final article on strategies for increasing your income.

Keep Your Money to Yourself Part 3: Supplement Your Income was created by and is property of American Consumer News.

1. Download the Upromise Toolbar, even if you don’t need college money. Upromise.com has a free toolbar you can use to find the best deals on absolutely any NEW product you could possibly want. By simply typing the name of the product you are looking for, you will be given a list of thousands of matching items, prices, and the stores where you can buy your desired product. Once you have your list, you can then narrow it down by features, lowest price, brand, store, and cash rebate amount. With just a few clicks, you can find the absolute best deal whether you decide to buy it from www.Upromise.com or another website.

2. SIGN UP FOR A FREE EBATES.COM OR SAVINGSWATCH.COM ACCOUNT. Although I have no experience with www.SavingsWatch.com, many of my readers have commented that it is an excellent website to purchase products from and receive large rebates in return. I do, however, have a history with www.Ebates.com and I know that they do pay you on a quarterly basis no matter how little or how large your earnings are. Once you have found the best deals on Upromise.com, pop over to Ebates.com or Savingswatch.com to buy the product for the price you’ve found and receive up to an additional 30% off. By doing so, you will always get the best prices and make a little extra cash back on the side. (Right now, Ebates.com is having a sign-up special. If you have a friend who has an Ebates.com account, enter their email address to earn $5 instantly for you and your friend.)

3. SHOP AT HALF.COM FOR CHEAP BOOKS, MOVIES AND CDS. www.Half.com is an eBay company that allows everyday people to post their new and used books, music and movies for sale without paying a posting fee. A customer can then purchase the item for as little as $0.75 and spend approximately $3 for shipping and handling. Within one to two weeks, the items are delivered to your door. Compared to walking into a book or movie store, you can save a lot of money over a relatively short period of time. Just be sure to read the condition comments to avoid any surprises, and only buy from sellers with a good rating.

4. SHOP AT EBAY FOR MANY OTHER ITEMS (AND COUPONS). Since I mentioned Half.com, I may as well bring up www.eBay.com as well. Just like Half.com, you can find a wide variety of new and used products that people have put up for auction. Also just like Half.com, be sure to buy from sellers with good ratings and email them requesting details should you require more information. One more thing to look for at eBay would be coupons. Many people get hold of coupons for everything from travel to groceries, and you can purchase those coupons and save yourself a whole lot of money.

5. USE COMPETITOR PRICING TO DRIVE A HARD BARGAIN. Whether you are an entrepreneur trying to get the best pricing on your business purchases or a thrifty shopper, you can use competitor’s pricing to your advantage. By getting quotes from one company and presenting them to the place where you normally make your purchases, you can get your favorite stores to consider lowering the price just for you. In fact, many large department stores (like Sears and Home Depot) have price matching policies. They will often meet or beat a competitor’s pricing on a product, but only if you can present an ad listing the item you wish to buy. Just be aware, it has to be exactly the same item to get the best deal. Not only will this get you the best pricing, but it will also get you the best financing deals with companies you may already have credit with. (Check out competitor’s websites for printable weekly ads if you don’t receive the newspaper.)

6. USE COUPONS AND REBATES TO SAVE EVEN MORE. Many office supply stores have an “online rebate center” where you can see all the rebates being offered for their in-store and online products. It’s a great place to start when looking to make a large purchase. www.Coupons.com and www.Smartsource.com both offer hundreds of manufacturers coupons every month on grocery store products. www.Wow-Coupons.com offers rebates and coupons for restaurants, travel, retail and grocery items. Sign up for newsletters at your favorite shops and websites and you will soon receive exclusive coupons via mail and e-mail.

7. BECOME AN AFFILIATE. If you have a website, join an affiliate company. Not only will it help you supplement your monthly income when your friends, family and customers make purchases through your websites, but it will also help you find the absolute best deals on anything you want. One really good company to join for free is Commission Junction (www.cj.com). You can immediately search for thousands of products and make your selections based on price, available coupons, and commission. Every time you net $25, they mail you a check the following monthly pay period. By doing so, you can easily “earn” hundreds of dollars per year while also finding the best prices.

8. ALWAYS SHOP THE CLEARANCE SECTIONS. There is one in every store, and you can save as much as 80% off of regular-priced items by browsing this section first. Several times a year, the stores will slash clearance prices even lower to clear away out-of-season products and make room for new products. January, especially, is a great time to begin your search since stores over-purchased items for the Christmas Season.

9. TRADE SERVICES FOR WHAT YOU NEED. If you know someone who offers a product or service you need (like website development or video production), offer to trade services with them. Look for a need they have which you might be able to provide free-of-charge in exchange for something you need free-of-charge. This kind of win-win situation benefits everyone.
   

Try some of these tips today and see how much money you are able to save. Don’t forget to read article one in this series (“Keep Your Money to Yourself – Part 1: Cut Your Expenses”) to save even more. Also look for article 3, “Keep Your Money for Yourself – Part 3: Supplement Your Income” where I show you a few simple things you can do instantly to supplement your income.

Keep Your Money for Yourself – Part 2: Get the Best Deals was created by and is property of American Consumer News.

1) Use a rewards credit card. A rewards card offers just that…rewards. Often, these rewards can be turned in for free products or cash.

2) JOURNAL EVERY MILE YOU DRIVE. In November of 2007, the IRS announced that business miles could now be written off at $0.505 per mile, medical or moving miles at $0.19 per mile and charity service miles at $.14 per mile. Therefore, whether for business or personal, add these miles up at the end of the year and get back a bigger refund, or pay less tax.

3) BECOME A NETWORKER. Word-of-Mouth advertising is the best and cheapest method for advertising. It gives you credibility, saves you money, and increases your odds of “getting the job.” Therefore, create your own networking group by asking friends and family to put you in touch with other business professionals. In no time, you will have a powerful sales force looking for customers and you will be doing the same for them.

4) GET A FREE PAYPAL ACCOUNT. www.PayPal.com offers the lowest fees for accepting credit cards whether you are a business owner or selling on eBay. For as low as 1.9% of a sale, you can accept any credit card through your computer instantly and transfer it into your bank account within 24 hours. Not only will you increase your sales, but also you will be able to create a free 24/7 online catalog.

5) TELECOMMUTE. With companies like www.GoToMyPC.com and www.PCNow.WebEx.com, you can now logon to any computer from anywhere and see all your files instantly. By telecommuting, you will be able to save on gas money, travel time, automobile expenses and office overhead, while at the same time acquiring several money-saving tax deductions.

6) USE THE UPROMISE.COM TOOLBAR TO FIND THE BEST DEALS. Upromise is a website dedicated to helping people accumulate money for college. However, they also have a free toolbar that you can download and utilize to find the best deals on the Internet. Simply type in what you are looking for, and then narrow the selection by features, price, and store. Not only can you save hundreds of dollars a year, but you can also get money back that can be used for anyone’s college education, or to pay down student loans.

7) JOIN AFFILIATE PROGRAMS. Affiliate programs are free to join and allow you to sell hundred of products on your website instantly without ever investing in an inventory. Furthermore, if you have a product to sell, you can offer a commission to affiliates who want to sell your product, and you pay nothing until they make a sale. Commission Junction (www.cj.com) is one of these companies that have some of the best affiliates on the web.

SUGGESTIVE SELL. Whether you are selling at a garage sale or selling to maintain your livelihood, ALWAYS suggest a second item or third item to go with the first. However, be certain to name a product and not just ask “Would you like anything else?” By naming an associated product, you create a mental image in the buyer’s mind and give them a chance to give you more of their money.

9) ELIMINATE TROUBLESOME CUSTOMERS. While it would seem that eliminating customers will cost you money, freeing up the time that troublesome customers consume will allow you to find better customers who order regularly with or without you. Stick to the customers you enjoy working with, and you will increase your cash flow immensely while also reducing your stress level.

10) CREATE A BUSINESS PLAN. This is recommended for every business for several reasons. Not only does it help focus your business and your goals, but it can also help guide your business’s choices and get you funding when most needed. Look online for free business-plan templates and just fill in the blanks.

11) SIGN UP FOR MILEAGE PROGRAMS. www.United.com is one of the best mileage programs available since you can earn miles by simply registering for their grocery and dining programs. As soon as you’ve accumulated as little as 13,000 miles, you can earn a free flight in the off-season to hundreds of locations. Programs such as these are free to join and make it easy to earn free flights.

12) UTILIZE DROP SHIPPING. Drop Ship companies are designed to ship out the products that you sell to your customers while charging you a flat fee. Not only can this save you money on paying for a shipping staff and postage embezzlement, but it can also save you from having to pay for a storage area for your inventory. Go to www.WorldWideBrands.com to find companies that can help you with your products.

13) GO TO WWW.SCORE.ORG FOR FREE BUSINESS ADVICE. This company is comprised of retired entrepreneurs who spend all their time mentoring people into thriving businesses. You can get free advice regarding everything from venture capital to business plans.

14) START A BLOG. Whether you own a business or are just looking to make some extra cash, a blog can actually help you achieve that. By writing something interesting and informative, you can build up a loyal readership. Post some ads from Google AdSense on your blog pages, and soon you will be adding bit by bit to your bank account, plus building your expertise and credibility among your “fans.”

15) USE TESTIMONIALS. People want to know that you are a good company. By asking your current clients and friends to give a testimonial about you that you can place on your website and in your brochures, you gain credibility and increase the odds of making new sales.

16) DEDICATE AN AREA OF YOUR LIVING SPACE TO A HOME OFFICE. If the home office is used for business purposes, you can deduct a portion of your mortgage/rent, utilities and supplies legally.

17) OPEN AN IRA. Although you may not consider putting money into an account a profitable situation, at this time of year, shuttling $2,000 into an IRA before April 15^th can actually reduce your tax bill or even get you a larger refund. Plus, you are keeping that $2,000 for use at a later date.

18) OPEN A HEALTH SAVINGS ACCOUNT. If you are enrolled in a high-deductible health plan, you should consider opening a Health Savings Account (HSA). This money is tax deductible and can be used immediately for any kind of medical expenses at any time without federal tax liability. Just like an IRA, you can write off the money you set aside and have more money in your pocket at the end of the year.

19) OPEN A COLLEGE SAVINGS ACCOUNT FOR A CHILD. Also like an IRA, there are several college savings accounts that offer tax deductions, thus keeping more money in your pocket and earning interest to boot. Some of these plans include a 529 Plan or a Coverdell ESA.

20) SIGN UP FOR TRAVELOCITY’S EMAIL ALERTS. If you are looking to travel, Travelocity’s e-mail alerts can alert you to the best prices on the flights you want on a daily basis. By signing up for their free e-mail alerts, you will never pay retail again, thus saving hundreds and even thousands of dollars.

20 FREE THINGS YOU CAN DO TO PUT MONEY IN YOUR POCKET was created by and is property of American Consumer News.

Tip 1 – Use your Profit and Loss Report

For businesses owners, a Profit and Loss Report (P&L) is a common tool. For everyone else, this would be the same as a Spending Journal with one little extra: your income. Your P&L (or Spending Journal) adds income and subtracts expenses. When totaled, the profit or loss (a.k.a. cash flow) is left behind. By carefully analyzing this report for a specified period of time, you can deduce where you are spending too much money and which expenses should be cut.

TIP 2 – CONSIDER SWITCHING BANKS

Since the banking industry is extremely competitive, you can renegotiate all kinds of banking fees. This includes your monthly fee, bounced check fees, and over-the-limit fees. Contact your banker and ask them to reverse these unnecessary expenses and to convert your account into a free checking account. Banks will often cooperate just to keep you happy, or they will upgrade your account at no extra charge based on your banking history. If you use QuickBooks to do your bookkeeping, make sure your bank can create a QuickBooks Web Connect file and you will be able to reduce your bookkeeping expenses as well when you download all your transactions instantly. Bank of America, Citibank and Wells Fargo are three banks that work well with QuickBooks.

TIP 3 – ASK YOUR CREDIT CARDS FOR BETTER INTEREST RATES

It is common for credit card companies to raise your interest rate to as much as 24% if you are even 24 hours late. Most people never notice because they are not contacted separately, it is simply presented discreetly in your next bill. Contact your credit card company and ask them to lower your interest rate and you can cut your monthly bill in half instantly. Also ask for Balance Transfer Deals and you can wipe out interest altogether for a period of several months to a year or more.

TIP 4 – GET A REWARDS CREDIT CARD

If you do not have a credit card with rewards or a low interest rate, you should consider switching. Rewards cards can supplement your annual income, or be used to reduce other business expenses (such as airline tickets or hotel rooms). By paying for all of your needs on a credit card and then paying that credit card off every month, you can accumulate interest on the money in your bank account while also rapidly accumulating rewards. Both Citibank and Chase offer excellent rewards cards with no annual fee.

TIP 5 – REDUCE YOUR COMMUTING EXPENSES

While in the past, the best way to reduce your commuting expenses was to carpool to and from work, there are many other ways to cut commuting expenses. One would be to invest in an energy-efficient vehicle, like an electric car or scooter. Another would be to ride a bicycle to get where you need to go (also a healthy option). The best recommendation I can make, however, is to begin “Telecommuting” to work. Thanks to technology today, people can work from home and become more productive and efficient then when working in the office. Another added bonus here is that you could cut daycare costs (if you have children) and work whenever your child is sleeping. You will find you have focus on your work, freedom from micro-managers and more time with your family…all while saving commuting time and costs. (If you need advice on getting your boss to approve of telecommuting, get Timothy Ferris’s book “The Four Hour Workweek.” He will walk you through the process step by step.)

TIP 6 – DON’T SPEND DOLLARS ON PENNY JOBS

The Mary Kay Company has always taught their 1.2-million+ consultants to never waste their valuable time doing jobs that you could pay someone else less money to complete. For example, if you make $50 an hour working at the things you do best, then why spend your spare time cleaning your house when you can pay someone else $10 an hour to do it and you spend your time bonding with your family instead. Whether your boss does or does not allow you to telecommute, there are many things that you could outsource saving you time and therefore money. Elance.com is a great website that connects with independent contractors from all over the world to complete all kinds of jobs, and many of these jobs can be completed for as little as $2 (American) per hour. Why not use them to research your competition or develop a website for you instead of spending days doing it yourself? Or, why not simply use them to research business grants or college scholarships instead of struggling to find them yourself?

TIP 7 – REEVALUATE YOUR DUES

It is a good practice to look at your insurance every year. Premiums generally increase on your anniversary date. By simply “shopping around,” you may find that you can get a better rate somewhere else. If you choose to stay with the company you are with, you may be able to bargain them to a lower price by simply having their competitors’ quotes in your hand. Also, ask them what their best-discounted specials are. You may find that by adding another policy, you can actually save money. For example, State Farm Insurance offers a large discount on auto insurance when you add life insurance or homeowners insurance to your policy. Often, the discount is large enough to pay for the new policy while also giving you a discount and protecting your assets. Reconsider your networking fees, Internet fees, telephone and cell fees…anything you regularly spend money on. By shopping around, you will be able to renegotiate and cut expenses instantly.

These are just a few things to look at today. Hopefully, they will inspire you to reevaluate your spending habits and find where you can increase your cash flow. Also, check out article 2, “Keep Your Money to Yourself – Part 2: Get the Best Deal” on ways to always get the best deal on what is on your shopping list.

Keep Your Money to Yourself – Part 1: Cut Your Expenses was created by and is property of American Consumer News.

The way Citibank was able to pull this off legally is that they bought Macy’s credit card portfolio. If you open a credit card with a bank or retailer, they have the legal right to transform your card with them to another type of card if their program changes. A common example of this might be when a bank switches from issuing Visa Credit Cards to MasterCard Credit Cards. Citibank used this loophole to purchase 3.5 million inactive Macy’s credit accounts and then opened up Macy’s branded Citibank credit cards for the customers.

Citibank made a statement to the Boston Globe about this business practice. Their public relations people had the audacity to claim that they had received “positive feedback” from customers about these new cars and that there were no privacy or security issues to be concerned about.

The truth is that Citibank is opening up a second credit line for people without them ever asking. If you receive a new Citibank Macy’s branded credit card in the mail, your credit score will actually go down! Customers who receive one of these will likely perform a hard-credit pull and have the age of their card reduced significantly. These two factors could easily lower your credit score by 25 points or more.

If you receive one of these cards in the mail, don’t make use of it. It might even be a good idea to move your credit cards from Citibank over to another financial institution. Citibank needs to hear from consumers that they are not happy and will not stand for this practice.

Citibank Busted Issuing 3.5 million Credit Cards to People Who Never Even Applied was created by and is property of American Consumer News.

Business Week recently ran a story entitled “Prisoners of Debt” in which they reported that a group of banks, collection agencies and even credit bureaus were working together to undermine bankruptcy law. They found that Capital One, Bank of America, Chase, and Discover were all ignoring existing bankruptcy laws, whether by accident or on purpose, and selling debts illegally to collection agencies so that the collection agencies could go after you and try to collect the bankrupted debt. There was recently a court case in which a Chase lawyer testified to a judge that bankrupted debts are sold all the time in the industry.

The article in Business Week stated that the banks public relations arms said that these actions were an “unintentional mistake,” but let’s look at the facts. Multiple banks have neglected to wipe out people’s debt when they file for bankruptcy and then sell the debt off to a collection agency so they can collect the money. The credit bureaus then help by listing debts on your credit reports, even though they are not valid. There’s a clear financial gain for banks and debts and collectors to flaunt the law like this and since there’s been a clear pattern across a number of different companies with a large number of consumers who have filed bankruptcy, it’s very difficult for these banks to pass off these actions as an “unintentional mistake.”

If you’ve found yourself the victim of banks and debt collectors who are trying to collect bankrupted debts, contact the banks y phone and in writing and try to get them to update the status of your debts which are legally expired. If that fails, your best bet is to go back to the bankruptcy court where you filed and present the matter before the judge.

Bank of America, Capital One, Chase and Discover Caught Actively Working to Undermine Bankruptcy Laws. was created by and is property of American Consumer News.

Have you ever considered why you chose the bank that you bank at? Was it because your parent’s bank there, it’s close to your house, or that it was the first place you stopped at? Most of us end up banking at large mega-banks with billions of dollars in assets, even though these types of banks offer some of the worst deals out there when it comes to savings and investments.

These major mega-banks are not terribly concerned that average Americans with average incomes become their customers, rather they put their emphasis on scoring big accounts because those are much more profitable to hold. Many of them don’t put much of an effort in the products they create or the marketing that they do for the average customer.

Many of these banks have very lousy products for the average consumer, especially when it comes to savings accounts. Wells Fargo is offering a meager 0.1% on their standard goal savings. Bank of America is offering a 0.2% interest rate on their regular savings and Wachovia is offering 0.15% on their “Premium” savings.

Most of these banks have very lousy checking accounts as well. You might get a free checking account with the first set of checks for free, but that’s about it. No ATM refunds to speak of, no free checks later on, and if you want to just about anything out of the normal, you’re going to end up paying a fee to make it happen.

There are so many better options when it comes to your checking and savings accounts, especially when you shop for them online. There are a number of banks, such as HSBC Direct, ING Direct, Emigrant Direct, IGO Banking and E-Loan that are offering high-yield savings accounts to their internet customers offering rates anywhere between 4.0% and 5.25% APY. AmTrust Direct is currently offering a savings rate of 5.26% APY, that’s 53 times more than Wells Fargo will give you with their basic savings!

When it comes to checking accounts, you probably won’t earn a dime in interest from any major bank, but when you go online you can easily get from 3% to 4% APY on the money that’s sitting in your checking account. Some of the accounts available will even refund any ATM fees that you incur!

Major mega-banks have been giving their regular customers a raw deal for far too long, if you still keep your money at one of these banks offering you an abysmal savings rate, it’s time to move your money.

Wells Fargo, Bank of America, Wachovia and Other Major Banks are Ripping You Off. was created by and is property of American Consumer News.