Smart SpendingSmart Spending

Finding places to save more money in your monthly budget can be tough. Here are the first places to cut costs.

By Credit.com 3 hours ago

This post comes from Benjamin Feldman at Credit.com.


MSN Money PartnerWe all want to save more money. After all, none of us like the feeling of looking at our bank account (or under our mattress) and realizing that we have no money left and our next paycheck is still a week away. By saving a few dollars here and there, we can get some breathing room in our monthly budgets and hopefully start saving up for future expenses, as well.

Image: Woman holding empty purse (© image100/Corbis)This article is for anyone who feels stretched financially. It will give you some ideas on how to save more money each month. Oh, and if you’re actually keeping your money under your mattress please go sign up for a bank account! Keeping your money in a federally insured bank account is a whole lot safer than keeping it under your mattress. (You should also have a savings account set up, where you can earn interest as you save.)

Here are the first places you can look to shave some money off your monthly expenses.
 

These airlines have taken a la carte flying to a new level, charging for everything you can think of and then some.

By Mitch Lipka 4 hours ago
747 plane landed, Miami airport, Florida © Juan Silva, PhotographerFlying just isn't the same as it used to be. You'd pay to either sit in coach or first-class and would get some sort of food and drink and you could safely assume your bags, your choice of seats and boarding passes would all be included.

If you haven't flown in a while you might have missed the conversion to a la carte aviation. Airlines have feasted on fees consumers have to fork over if they want to, say, bring luggage or not sit in a middle seat or actually sit with members of their own families.

No airline has made fees more part of its bottom line that Spirit, which has a fee for just about anything from carrying on a bag ($25) to booking by phone ($10). The airline industry calls the practice "unbundling," with the idea being that there is a basic airfare and most anything on top of the basics you can pay for if you want it. Spirit, as a discount airline, often starts out with the lowest prices -- which could remain cheap if you don't pick your seat or bring on a bag or anything else that can move up the price.
 

Whether you're renting a vacation beach house with the gang or taking a long road trip, knowing how to best divvy up the costs can save a friendship.

By Smart Spending Editor 5 hours ago

This post is by Susan Johnston of partner site U.S. News & World Report.

USNews logoWhether you rent a beach house on the coast or cruise down Route 66 on a road trip, spreading travel costs among a group can not only save money, but make a getaway more fun. However, when people have different ideas about how to split the bills or even how much to spend, a relaxing weekend away can quickly turn into a tense standoff.

Image: Couple with paperwork © IT Stock Free, JupiterimagesJust ask Philadelphia resident Katharine Paljug, who takes a beach trip to South Carolina each spring with a group of friends. The group devised a system that involves totaling receipts from food, alcohol and activities and calculating how many people were there each day, since they tend to come and go. Then each person contributes based on the number of days they were there and the amount they spent on expenses.

That system worked well until this spring, when one person decided she should be exempt. "When my husband emailed everyone asking for receipt totals, she sent back an itemized list of the food she had eaten over the course of the two days she was there as an explanation of why she shouldn't owe anything," Paljug says. "I had to explain that assigning value to individual meals and drinks was a crazy way of managing things, would be nearly impossible to figure out and would make everyone hate each other."

The traveler still refused to contribute to shared expenses, and Paljug doesn't expect to see her at the beach next year.

 

If your kid is coming home -- or going away -- your insurer needs to know. Failure to let them know could result in having a claim denied -- and informing them just might result in a discount.

By MSN Money Partner 8 hours ago

This post comes from Michele Lerner at partner site Insurance.com.


Insurance.com logoYour car insurance coverage may need to change depending on where and when your college student drives. Whether your student drives your car or someone else's, contact your car insurance company for a quick policy update.

 

Man using hands-free phone (© Digital Vision Ltd./Getty Images)"Parents should always alert their car insurance company if their kids are coming home for the summer or going away to school," says Penny Gusner, a consumer analyst for CarInsurance.com. "It's always better to be upfront and to be sure they're covered. Every insurance company has different rules about how college students are insured."


Here are 6 summer situations:

1. Your student owns a car and comes back home from an out-of-state campus.


 "College students who own a car should have their own car insurance policy and be removed from yours," says Gusner. "A lot of insurance companies will ask you to prove that the student has her own car insurance, so you should provide that if they ask."

 

If your student borrows your car instead of driving his own once or twice, then your car insurance will cover any claims in case of an accident, just as it would if a friend borrowed the car. Your college student's insurance would provide secondary coverage, says Gusner.

 

 

A reader who wants to get out from under a mortgage on a condo is tempted to consider an offer but wonders about risks to her credit.

By Smart Spending Editor 11 hours ago
This post comes from Steve Bucci of partner site Bankrate.com,

Bankrate logoDear Debt Adviser,

I am a 71-year-old divorced woman with a lot of debt. I work part time to supplement Social Security.

House keys (© Comstock Select/Corbis)I own a house and a condo. I bought the condo when prices were high. I discovered I did not like condo living and rented it out and bought a house. I have mortgages on both.

The person who holds my condo mortgage is willing to take it back with a quitclaim deed. Will I ruin my credit? Will I be responsible for any of the mortgage? Thanks a lot; you have a great column. 
-- H. Bell

Dear H. Bell,
You have asked two good questions, and there is a third question you didn't ask that trumps the others. Does it make sense to sell something that you bought at a high price and lost value just when real estate prices are rising?

Before you sign away your condo, I want you to take a hard look at the economics of renting the condo for a few more years. Add in the tax benefits, an estimate of price appreciation and the rental income to all of the expenses and concerns of ownership you have. 

A single mom who says she was forced to accept a fee-heavy 'payroll card' instead of a check or direct deposit is taking a McDonald's franchise to court.

By Donna_Freedman 12 hours ago

Logo: Cash machine (Compassionate Eye Foundation/Getty Images/Getty Images)Paper or plastic? That is the question for Natalie Gunshannon, who's suing the McDonald's franchise that forced her to accept her wages in the form of a fee-heavy debit card versus a paycheck or direct deposit.


The class-action lawsuit, filed last week on behalf of Gunshannon and other former and current employees of a McDonald's in Shavertown, Pa., alleges that the payroll debit card, issued by Chase, carries numerous fees.


Among them: 75 cents for online bill payment, $1 for balance inquiries, $1.50 for ATM withdrawals, $5 for teller-assisted cash withdrawals and $15 to replace a lost or stolen card.

There's no charge for using a Chase ATM -- but the closest one is 60 miles from Gunshannon's home in Dallas Township, Pa.  

Children from lower income families are at greater risk of suffering accidental injuries and being sickened by food, according to a Consumer Federation of America study.

By Mitch Lipka Mon 7:09 PM
Image: Broken egg (© Tetra Images/Corbis/Corbis)Children from lower-income families are more likely to suffer accidental injuries or food poisoning, according to a report released today by the Consumer Federation of America (pdf).

Some 44% of children in the U.S. live in poverty.

The category of unintentional injuries is both the Number One cause of death and injury among children from 1-14 -- about 5,000 deaths and more than 5 million emergency room visits. Millions of additional injuries go unreported, the Consumer Federation said.
 

Those jeans of yours were made in Bangladesh and traveled a long way before being marked up by 300% or more.

By Smart Spending Editor Mon 6:45 PM
Call it the calculations of the traveling pants. Those jeans you're wearing made a long journey from where they were manufactured in Bangladesh before they made it into the shop you bought them in. And the price you're paying? Let's just say it's a pretty hefty mark-up.

Reuters delved into the manufacturing process and came up with some alarming numbers.
 

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ABOUT SMART SPENDING

Smart Spending brings you the best money-saving tips from MSN Money and the rest of the Web. Join the conversation on Facebook and follow us on Twitter.

Editor Bev O'Shea lives and works in the foothills of the Appalachians. A former copy editor for The Atlanta Journal-Constitution and the Orlando Sentinel, she joined MSN Money in 2007. She's a fan of sunsets, college football and free shipping, among other things.

Having worked as a writer, reporter and editor for more than 25 years, Editor Julie Tilsner is the sort of person who can't help but correct grammar in Facebook postings and on billboards. She's written for BusinessWeek, the Los Angeles Times, Parenting, Redbook, AOL and others. She lives in Los Angeles County with her family and loves to drink wine and practice yoga, although not generally at the same time.

A writer for MSN Money since January 2007, Donna Freedman won regional and national prizes during an 18-year newspaper career and earned a college degree in midlife without taking out student loans. She also writes about smart money tactics for magazines and on her own site, Surviving and Thriving.

Mitch Lipka has been warning people about scams and shining light on questionable business practices for more than 20 years. Mitch, the consumer columnist for The Boston Globe, has also been a reporter and editor at The Philadelphia Inquirer, Consumer Reports, South Florida Sun-Sentinel and AOL. He won the 2010 New York Press Club award for best consumer reporting online and was honored in 2011 for his reporting on child product safety.

Marilyn Lewis is an award-winning writer with a passion for getting readers clear, straight information that helps them stay out of financial trouble. A former reporter for The San Jose Mercury News, she works from her home in Port Townsend, Wash. Contact her at MarilynLewis@Outlook.com.

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