Times are tough in many communities and citizens are finding it difficult to make ends meet. When this situation occurs, it is often important that they stay away from heavy credit card usage, but sometimes, that action is unavoidable. Taking a second job or clamping down on budgeting is almost always a better answer. As we progress with our lives, we sometimes find it necessary to buy things and when we do not have the money in our bank accounts, we must turn to credit. In many cases, recently unemployed individuals are forced to live on a credit card, which can be stressful if we do not have the capacity to make more than the minimum payments each and every month.

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Each year, students everywhere are required to put in a Free Application for Federal Student Aid in order to be considered for financial aide for college. Too expensive tuition and lowered incomes is making this a highly competitive process with more people seeking assistance. Without this yearly ritual, colleges and universities would not be able to ascertain the level of need for attending students. To get ahead of the pack, file early. While the federal deadline for the FAFSA is June 30th, the truth is that state deadlines differ and can be much earlier. Since the system is set up to be a “first come/first served” system, it’s best to get in your application as quickly after January 1st as possible.

Why You Should Apply Early

State deadlines can range between February 15th, in Connecticut, to July 1st, in Louisiana. In between, the average state deadline is closer to March 15th. Either way, you need to get a head start to get your FAFSA in early, if you want there to be sufficient funds if you have demonstrable need. Otherwise, if you file late, the funds may run out even if you qualified. Check the deadline for your state at the official FAFSA website. The sooner you file the better your changes of obtaining aide, if you qualify.

Why It’s Difficult To File Early

Federal regulations don’t actually require that your tax documents be delivered until the last day of January. That usually means people have to wait until February to file their taxes. If you or your parents are required to submit their income information on the FAFSA, it can be difficult to do so early. For that reason, you can estimate that information and file an amendment later. If you are an emancipated minor, you may not need to file your parents’ income information. If you are listed as a dependent, you will need to get that information ready to file as quickly as possible. You can start to complete your tax returns and wait for your W-2s to arrive to finish the process quickly in time to file the FAFSA early. If you wait until the last minute, you’ll only hurt your chances for getting financial aide, even if you qualified for it.

The economy is slowly recovering from one of the worst recessions we have seen in decades. As it starts to recover, people will also begin to make more purchases to boost it. This consumer spending puts money back into the economy and creates demand that leads to new jobs. It is a cycle that keeps our country afloat. When we started this horrible recession, the Government decided that banking was somewhat at fault for the problems we were experiencing and decided that credit card spending and bank fees for certain services were out-of-line and needed to be changed. So, starting on July 1st, banks can no longer charge overdraft fees to those who have exceeded their balances. This will severely limit the amount of money a bank can make on its customers. Many people do not realize that a bank makes a great deal of money on overdrafts fees as many people use their debit cards and go over their limits.

Bank of America has decided to implement this change right now rather than wait. Rather than allow their customers to go over limit, Bank of America will now stop purchases if they exceed the balance in their account. Many people do this unknowingly as they are not aware of certain transactions taking place on their account and with current salaries at a low, many are purchasing items dangerously close to the bottom of these accounts. With current trends, the banks stand to lose millions of dollars in revenue from fees as well as purchases.

As of July, banks will have to get the consent of their customers to charge any overdraft fees and Bank of America is well aware that it would be an uphill battle and that their customers will not sign these types of guidelines. Rather than fight it, Bank of America has decided to institute the new laws now to possibly keep customers and show that they are not predatory like the Government seems to portray than as in the media. Many of the larger banks will fall in line with Bank of America as they all scramble to find new and inventive ways to charge fees. It is likely that fees for checking account maintenance will go up as well as yearly fees on credit cards, which is already occurring across the board.

In the past, students were besieged with credit card offers a few years before graduation. The cards proved too tempting to most college students who weren’t informed enough to use them responsibly, leading to a significant debt burden upon graduation. Whether that situation was a problem of poor financial management on the part of the student or aggressive credit card tactics that targeted a vulnerable demographic, changes have now been made. While much of what is happening is good news, other people fear it can lead to an increase in other types of loans amongst college aged students, most notably payday loans.

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Conservation of earth’s resources is good stewardship and makes great financial sense. It can be very costly to change from electricity to solar, but it’s not that hard to cut some of your dependence on the Water Company. Right now, there are even rebates available for people who want to reduce their water usage, cut their water bill, and make their home a greener place. Read on for the top 5 ways to cut living expenses by focusing on your water resources.

1. Replace Your Showerheads

Old showerheads can use up as much as 5 gallons of water a minute. Newer, low-flow showerheads are rated at 2 gpm or less. That’s cutting your usage in half, without even reducing the number of showers you take. A good low-flow showerhead can range from $15 to $30, and many can be installed on your own. If you want to be sure not to damage other piping as you twist and turn the showerhead to secure it, hire a plumber to finish the job.

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It may come as a surprise, but dental care is not a part of the Medicare program. Along with the elderly, people who have lost employee-sponsored dental plans through the loss of a job may have to face dental costs on their own too. If your budget is tight but the cavity in your tooth is killing you, you may be wondering what some low cost options are to get your dental needs done. Here are a few strategies for people who are looking for some temporary or permanent fixes to their dental woes.

For Immediate Emergencies

If you have no cash, but the dental emergency can’t wait, you can always resort to getting check advance loans that will allow you to float the coast until your next pay period. If you’re employed, but don’t have a dental plan, you can opt to put monies aside for dental and medical emergencies through your flexible spending account. Just use all of it before the year’s end, so that you don’t lose it. For Medicare recipients, some emergency dental care is provided as long as it is required for another covered procedure to take place. Thus, if you are in an accident and shatter a jaw, Medicare may cover resetting the jaw and any necessary dental work associated with that covered procedure.

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With rising mortgage rates and falling incomes, the recession has revived an interest in rooming together. When faced with foreclosure or a lack of income, renting a spare room is a quick way to make several hundred dollars extra a month. Home value predictions, 2009, showed declining prices in most markets, making the option of selling a home to downsize less likely. Yet, holding a home with an adjustable mortgage or with less income is problematic too. That’s why many people are opening their doors and taking in strangers in a bid to ride out this recession, and save their home from foreclosure, by renting out a room.

How to Advertise for A Roommate

If you’re not in college anymore, but seeking a roommate, your first question might be: “Where do I advertise?” Online bulletin boards like Craigslist are easy places to start, and they don’t cost anything to advertise. The heading is “rooms/shared” under your major city heading. Other places to advertise are in your local newspaper, and within roommate websites like Roommates.com. In some cases, you may have to pay a fee to advertise, and others will allow you a small period, like a week, to post for free.

Screen Your Potential Roommates

When you advertise, be sure to put in what you desire in a roommate. The best arrangements don’t just need your financial needs, but also take into account your chosen lifestyle. Someone who hates dogs, for instance, may not want to room with you if you have several dogs. The same is true for people who smoke, party, or even have differing religious or political viewpoints. The best match is someone who will appreciate your own lifestyle and endeavor to fit in as seamlessly as possible. The first way to attract such a roommate is to make it clear this is what you seek.

Avoid Being Scammed

Unfortunately, the ease of online communication in searching for a roommate has also led to scammers frequenting these areas, trying to scam you out of money. The paid sites, like Roommate.com, are not as open to such shenanigans, but one still has to be careful. The majority of scams are people who claim to be outside the local area and wanting to rent the room, sight unseen. This should be an immediate warning bell, as the minute they agree to send you money without even meeting you, you know they are setting you up for a scam. They will send out a bad check or money order and then renege on the arrangement, asking you to send them back good money instead.

Some unfortunate would-be renters have also been scammed when genuine advertisements and photos are hijacked and then priced significantly lower than the market price. The scammer hopes to obtain that money by eager renters so eager to score a deal, they will fail to realize they are being scammed. Sometimes, scammers have even cased a good rental, broken in, shown the home to a prospective target, and then taken off with the money. Later, the renters find out the home wasn’t even owned by the person who rented it. This is a good reason why you shouldn’t let people know when you will be home or not. Schedule all viewings only mentioning when it is most convenient to visit, not when you will not be around.

Renting A Room Takes Time

To do this right, expect to take a month or so in the screening process. There will be no-shows and obvious mismatches. Keep looking because eventually you will get someone who is a match. It’s up to you to decide whether you want to run a background or credit check, both of which can be easily done via services available through the Internet. Keep on doing screenings until you have money in your hand, because often people back out because they either find another room or they can’t come up with first and last month’s rent on time.

Get a template for a rental agreement so that your new renter knows their financial obligations and has it down in writing. Everyone should sign. Collect first and last month’s rent, so that your renter doesn’t get tempted to leave you in the lurch without proper notice. If no notice is given, you should make it clear the last month’s rent is non-refundable and only applied when a clear 30 days notice is given. This way, you will have plenty of time to locate your next roommate.

Thrifts stores have more going for them these days than just second hand clothes for sale. You can get toys, furniture and jewelry in a variety of different thrift stores. Goodwill stores even offer reconditioned computers in some areas for only $150 each. With so many people out of work or having trouble making ends meet, a trip to the thrift store can help put a little shopping fun back in their day without the guilt.

What You Can Find

More and more consumers are finding some great deals at their local thrift store. Depending on the store’s policy, you can find either costume or real gold and silver jewelry. In many cases, the jewelry was stuck into clothing by mistake and donated. Most thrift stores make it a point to notify owners when that happens, and the jewelry is returned. Otherwise, if no contact can be made and no one claims it, after a few months it is assumed to be donated and put up for sale. This gives the buying public the opportunity to buy nice jewelry pieces for far less than at retail prices.

Other great finds include antiques. You can find antique dishes and furniture, and sometimes lamps. If you’re not into antiques, people often donate brand new items, still in the box or with tags, because they simply don’t like the purchase, received it as a gift, or are unable to return it to a store. Just because it’s brand new doesn’t mean it’s priced higher. New clothes go for the same as used, and only do some household items get priced a little higher. Yet, you can still get a great deal sometimes for as little as 5 bucks.

Thrift Store Shopping Increased By 35%

Thrift store owners have reported on average a 35% increase in sales. You can blame the economy and the fact that thrift store shopping is now seen as a smart option, rather than only for those with a low-income. Even pawn shops, another place that used to be stigmatized by public opinion, have become more popular too. As people continue to look for ways to save money, thrift store shopping will continue to increase in demand for the foreseeable future.

Electricity is a modern blessing, but it can come attached to a bill. If you didn’t get a 2009 cost of living raise, you’re probably seeking out ideas on how to reduce your living expenses. Rather than seeking to detach from the grid, which can cost thousands, here are a few simple ways to lower the cost of your electric bill.

Disengage When Not In Use

This can mean shutting off the lights when you’re not in a room, or unplugging appliances. Appliances like computers, TVs, and kitchen gadgets have ghost loads that continue to draw energy when plugged in. By getting into the habit of only using items when you need them, you can reduce your electric bill. Get a surge suppressor and plug your appliances into it, then shut them all off at night with one click.

Replace Bulbs With Compact Fluorescents

These bulbs can reduce your energy usage for lights up to 75%. They last 10 times longer than regular incandescent bulbs, keeping you from replacing bulbs as often. They cost more but will end up paying for themselves in as little as six months. They come in small and large sizes, so that you can replace even modern chandelier bulbs with tiny compact fluorescents. Each bulb you replace can save you as much as $30 dollars during the lifetime use. Multiply that by the number of bulbs you replace and you can see that savings really add up.

Replace Your Refrigerator

If your refrigerator was bought in 2001, you can benefit from a newer refrigerator. Newer models are up to 40% more efficient with energy demands, as long as they are labeled “Energy Star.” It can save, on average, about $50 per year as a refrigerator accounts for 15% of your total electric bill. Even though it costs several hundred dollars to replace your refrigerator, check with your state to see what rebates are available for people upgrading their refrigerators to obtain further savings.

Weatherize Your Home

Electric heat can be expensive if your home isn’t properly insulated. It’s an easy thing to determine whether you need more insulation in the attic or the walls. Your windows should be checked for drafts and leaks. Caulk areas that need it. If you can’t replace your windows with energy efficient ones, you can always use plastic thermal window coverings during the winter to reduce the electric bill for as little as $15 for four windows.

Check Your Vents

The number of vents that are open or needed changes from winter to summer. You can shut off an entire room that is not in use in the winter, and save that energy for where it is most needed. If you don’t mind a cold bathroom or basement, shut those vents off and leave the warmth for the rest of the house. Keep vents free from obstruction from furniture and your heating system and filters clean for maximum performance.