This post comes from Adam Levin at Credit.com.

Some call it the Student Loan Bubble -- I call it crazy. And what better time to discuss student debt insanity than now, as countless soon-to-be graduates prepare to slip on their caps and gowns? An estimated 1.8 million students are graduating this year, many with degrees that perhaps aren’t worth a damn when it comes to actually getting a job.

Nevertheless, many of them will soon be paying back the tens or hundreds of thousands of dollars they borrowed to get those nice degrees, and I wonder how many will regret the decision to spend what they spent as they see their interest compound and principals skyrocket through cycles of deferment and forbearance. The college experience can be an amazing one, but is it really worth the cost? (And I’m not talking about just tuition.)

To get at the heart of this question, I recently commissioned a poll that asked adults of all ages about student loans. We asked how much student debt is OK, and how much is too much. One in five senior citizens and almost a quarter of adults between the ages of 35 to 49 agree that $20,000 to $50,000 in student loan debt is too much to borrow. People of college age, between 18 and 24, disagreed; only 16% said graduating with that much debt is too much. Many respondents believe there should be no limits at all.

Borrow now, pay later

Among recent graduates, 22% agreed that students “should borrow as much as they need,” and “no amount is too much.” Baby boomers and seniors overwhelmingly disagree -- only 7.9% of people age 65 and up agreed that college students should borrow to the hilt.

Clearly, many college students and recent grads take a more cavalier approach to student loans than their parents and grandparents. Research shows that many consider high debt loads  to be empowering and give them higher self-esteem.

 

This is a post by Janna Herron from partner site Bankrate.com.

Dear Credit Card Adviser, 
I have been receiving letters from a debt collector for about 20 years saying I owe a balance of $18,000 on a credit card. I have never responded to them and there is nothing on my credit report. In the 20 years they have been after me, I have moved four times and each time they find me. What is this, and what can I do to stop them? 
-- Ginny

Dear Ginny,

Unfortunately, creditors and debt collectors can attempt to collect an old debt ad infinitum. What they can't do is sue you for the debt after your state's statute of limitations has passed, which has probably happened in your case. The debt collector -- which probably bought your debt from the credit card issuer for pennies on the dollar -- is hoping you don't know that or that you will satisfy an old debt out of some lingering moral obligation.

Here's the thing: This debt can't hurt you. It's too old. The collector can't get a judgment against you from the courts, and the bad history of that debt is too old to be found on your credit report. Negative items fall off your credit report after seven years from the date of the first delinquency (bankruptcies take 10 years from the court filing), under the Fair Credit Reporting Act. So, the debt collector can't say the debt will hurt your credit, because that is a lie and a violation of the Fair Debt Collection Practices Act, or FDCPA.
 

This post comes from Gary Foreman at U.S. News & World Report.

Once you’ve settled on the price for a new car, you’ll meet with the business manager for some "paperwork," and the negotiating starts all over again.

The business manager isn't just there to help you fill out the forms. He is she is a trained salesperson, with the goal of getting you to pay for as many dealership fees and services as possible.

The business manager isn't there just to help you fill out the forms. He is she is a trained salesperson, with the goal of getting you to pay for as many dealership fees and services as possible.

When you meet with the business manager, be prepared to negotiate these fees and service offers.

1. The processing fee

Every dealership has one; some call it a documentation fee. Regardless of the name, it's meant to cover their cost of paperwork. Expect the cost to be between $100 and $400.

Like most fees, business managers will tell you it's non-negotiable, and it is -- if you don't negotiate it. How willing they are to lower it depends on how good a deal you got on the car. If you cut their profit to the bone, they'll fight for every dollar. If they give in easily, it could be a sign you overpaid on the car.

2. Dealer preparation

Does the dealer need to prepare the car for you? Sure. Do you need to pay for it? It depends.

 

With the number of consumers falling victim to phishing attacks on the rise, there is a renewed push to get people to recognize the warning signs.

Phishing — typically emails that fool the victim into believing they're answering a request for information from a company they do business with — is one of the most common and longest running types of internet scams. Yet losses increased by more than 20% in 2012, according to the security firm RSA.

So the Consumer Federation of America and Visa Inc. are trying to bring more attention to the problem.

 

This post is by Kyle James of partner site U.S. News & World Report

Summer is almost here and the pending warm weather will soon have us nervous to open our utility bills. But since we are in May, there is still time to position yourself for lower cooling bills during the hot months ahead. Consider these tips to stay cool without blowing your budget:

1. Keep the sun out
Got curtains? Be diligent about keeping your curtains or blinds closed on windows when the sun is shining in, especially in the morning. If I don't do this in our family room and kitchen in the morning, the indoor temperature would spike to 85 degrees quickly and the kids would likely be left sweating at the breakfast table.

2. Plant trees
Trees not only look nice but the shade they provide is fantastic for your comfort and wallet. Several years ago, I planted two Crepe Myrtle trees outside and now the sun is completely blocked all summer long from entering those windows. Trees that drop leaves in the fall are ideal, as they'll let in sun during the winter and help warm up the rooms. 

This post is by Louis Ramirez of partner site Dealnews.

As the unofficial start of the summer, Memorial Day is typically associated with a sunny afternoon BBQ. But for in-the-know shoppers, this holiday is also an excellent time to flex that credit card; historically, Memorial Day weekend offers the best sales since the start of the year, frequently with stacking coupons that slash prices on already-discounted goods.

 

So what can you expect from Memorial Day sales this year, and when should you start looking?

Memorial Day sales now start in March, apparently
Traditionally, Memorial Day sales have started as early as the first week of May, but 2013 is proving to be a complete anomaly. This year Amazon kicked off its Memorial Day sale in late March, taking 60% off shoes and accessories. Likewise, Orbitz slashed 50% off Memorial Day hotel stays back in April.

 

As far as retailers are concerned, Memorial Day sales now start in March, which is a boon for consumers as there will be more deals to be had and more time to make purchases.

Clothing sales and deals on home goods lead the pack
Memorial Day is a great time to stock up on spring apparel, since we typically see deep discounts that qualify for an additional price cut via a stacking coupon; combined, this can yield some big savings.

 

This post comes from Dori Zinn at partner site Money Talks News. 

First comes love, then comes marriage. Then comes the mountain of wedding debt you'll now have to pay.

Last year, couples spent an average of $28,427 on weddings and nuptial-related events, according to TheKnot.com. While the venues, the engagement ring and even the entertainment can cost thousands of dollars, the wardrobe isn't far down the list.

The average cost of the dress: more than $1,200.

 

This post comes from Gerri Detweiler at Credit.com.

How important is your credit score?” That question was posed to me recently as I stood onstage after delivering a presentation on how to optimize your credit to a group of some 500 women for the annual Women’s Money Conference in Las Vegas.

I only had a few moments to summarize the importance of credit scores to the audience and tell them that, with a strong credit score, they may save thousands of dollars each year. With more time and preparation, though, this is the answer I would have given:

1. A good score = Money in your pocket

Low credit scores cost consumers money; in some cases hundreds or thousands of dollars.

“A lower credit score can result in a borrower having to pay more than $5,000 for a $20,000, 60-month auto loan,” warns Barrett Burns, the CEO of VantageScore Solutions. But most people don’t realize that. “According to our joint survey in partnership with Consumer Federation of America, nearly 80% of respondents were not aware of this important fact.” The two organizations have created a credit scoring quiz consumers can use to test their knowledge.

“A good credit score can save a person thousands of dollars over the lifetime of a loan or mortgage by helping them secure a lower interest rate,” agrees Antony Sprauve, the director of public relations for MyFICO.