Champ Money

Today’s financial news reveals “GM, GMAC ease lending rules to entice car buyers”.

Wait, isn’t this exactly what got us into this mess to begin with?

Sure, it wasn’t only “easy” credit for cars, but also easy-to-obtain credit cards, mortgages, home equity loans and personal loans. Often times - very often in fact - to consumers that should never receive that amount of financing to begin with.

So, after a few bailouts, here we go again.

Be careful with credit friends - it should be very clear that these companies have only their own interest in mind. Your financial well-being is completely in your hands.

Airline ticket prices aren’t dropping as quickly as we might expect considering the current fall in oil and energy prices, but that might be a good thing if you plan on traveling anyhow, whether by plane, train, or automobile.

Due to the decline in travel, hotels and resorts are desparate for customers - and are slashing room rates accordingly.

There are tons of bargains in lodging right now, you just need to ask. If you don’t see a discount available, insist on one. The odds are stacked in your favor.

We’re hearing more and more reports about auto insurance companies raising premiums at renewal time - and this is not limited to those who have incurred claims or moving violations.

When you receive your renewal notice, open it as soon as possible and review the details of the premium. It might just be time to shop around for rate comparisons.

Now is the time to proactively think about those weight loss products you’ll be considering after the holidays.

It’s normal to put diets aside at this time of the year, with seemingly endless supplies of great food and sweets at every turn.

But, just as you should be shopping with a budget to prevent overspending, you should be enjoying those treats with a similar budget.

Enjoy… in moderation.

There’s only a week left until Christmas and many shoppers will be feeling the first anxieties of the last minute shopping syndrome.

Be careful - these last few days are when most people get in trouble, pushing planned budgets aside to make purchases that aren’t so prudent.

Stick to your original budget. If you don’t find what you’re looking for, compromise. You might not find the exact item you wanted to give, but spending more isn’t going to make anyone happier, it will only cause more stress for you once the holiday has passed.

While gift cards make a perfect gift for some, it’s not uncommon for anyone to end up with one or more gift cards they just have no use for.

Don’t just let the unwanted gift cards expire or sit in a drawer. There are websites that can help you trade or sell your card. PlasticJungle.com is one that we’re aware of, but there are others.

These are also great sites for buyers looking for the opportunity to purchase desired gift cards for less than face value.

The American job market is definitely being hit hard right now. If you, or someone close to you, have not yet been affected by layoffs, it’s only a matter of time. It might not be your job - but it could be that of your spouse, friend, parent or neighbor.

No matter how secure you feel in your position, this is the time to be proactive. Fortune Magazine posted “5 tips for keeping your job” on their website. Although the list is brief, they are good tips. This is just the beginning though. Along with these tips, you should continue to look for others more aligned with your specific career field.

There is life after a layoff, but life is much easier if you can avoid that layoff to begin with. Additionally, some of these tips will help you in the event that you are ultimately subjected to a layoff anyhow. Along with continually expanding your education as it’s relevant to your field, don’t underestimate the power of networking. Whether using websites such as LinkedIn, or local networks where you can meet face-to-face, this may very well be one of the most important steps you take to gaining future employment.

Here at Champ Money we’re continually looking for new money-saving websites. Our favorites are the best of the coupon code sites - those that maintain current discount codes.

Our latest discoveries, in no particular order, are:

Savings.com
shoppersresource.com
Couponwinner.com
Promotionalcode.com
Webcouponcodes.com
CyberMonday.com
Dealio.com

We encourage you to check them out before making any only purchase.

The fed has announced plans (another $800,000,000,000) to help “unfreeze” credit - such as credit cards, student loans, and auto loans.

The first question should be, wasn’t the first $700,000,000,000 bailout supposed to unfreeze the credit?

Instead, the major banks and lenders “hid” the money in less risky ventures - none of which actually helps the economy.

Keep your eyes on this as it unfolds, but don’t assume it will be a good thing. We do need readily available credit for consumers, but the question remains - will this latest funding become available to consumers? And, if it does, how many of them will just end up in the exact same situation that got us into this mess to begin with — with easy credit?

We did something here at the Champ Money household that I’ve been considering for a very long time - we finally cut all ties with AT&T’s landline service.

There was a failed attempt at this several years ago when we tried Vonage VOIP service for about 6 months. That plan failed due to unreliable quality and dropped calls. I tried every tweak in the book (or on the Internet as the case may be), and have always had a rock-solid cable Internet connection, but Vonage just didn’t cut it. So, back to AT&T we went.

Now, several years later, we have 5 cell phones in our home - one for each family member. The landline was rarely used - mostly for work calls to other countries and lengthy teen conversations. This, at a cost of about $55 per month.

While the reason for cutting the service was not monetary, it’s nice to know that I’m no longer wasting that $55 per month for a service that I generally despise. I hate phones to begin with (it’s a work thing) and would much prefer email or text messages. But with the generous cell phone plan that we currently have, I don’t expect that we’ll miss Ma Bell at all.

For anyone else considering such a move, remember that the local telephone company is required to provide 911 service to any connected phone, so keep at least one plugged in when you have your service connected. In the event of an emergency, the landline is still the best “first choice”.