Managing your money is not an easy task. However, good planning and some basic knowledge can help save your money and make it grow. In that regard, we have assembled some tips that could be of value as you do your money management and financial planning. We've started with 101 tips but we'd like to grow these to 1001. If you have an original good tip that you'd like to share, we'd be pleased to hear from you.
           
          
  
 


      Airline Fares
    1. You may lower the price of a round trip air fare by as much as two-thirds by making certain your trip includes a Saturday evening stay over, and by purchasing the ticket in advance.
    2. To make certain you have a cheap fare, even if you use a travel agent, contact all the airlines that fly where you want to go and ask what is the lowest fare to your destination. Here are some Web sites to shop for low air fares (and other low prices on other goods and services):
    3. Be flexible, if possible. Consider using low-fare carriers or alternative airports and keep an eye out for fare wars.


      4. Car Rental

    4. Since car rental rates can vary greatly, shop around for the best basic rates. Ask about any additional charges (extra driver, gas, drop-off fees) and special offers.
    5. Rental car companies offer various insurance and waiver options. Check with your automobile insurance agent and credit card company in advance to avoid duplicating any coverage you may already have.


      6. Movies

    6. Movies can be expensive. Rather than viewing each release during its main run, try and wait until the show comes out in the "dollar movies" or on video. With a bit of patience, you can realize family savings of around $20 per video as compared to a family trip to the theater.

      Selecting a Hotel

    7. Get the best hotel room rate with a four-way check: hotel price, travel agent price, Web price, and hotel 800-number price.
        Room rates can vary greatly. Shop around for the best rate. Call the hotel directly, and, if it is part of a national chain, call the 800-number. When calling, don't just ask for the rate, ask for the lowest rate possible and be sure to enquire if there are any promotions ongoing or scheduled. In some states (Florida, for example), there are tourist magazines that offer specials on room rates. This is a fifth option for getting the best rate possible.


      New Cars

    8. You can save thousands of dollars over the lifetime of a car by selecting a model that combines a low purchase price with low financing, insurance, gasoline, maintenance, and repair costs. Ask your local librarian for new car guides that contain this information. The Federal Trade Commission has a good Fact Sheet on purchasing a new car.
    9. Having selected a model, you can save hundreds of dollars by comparison shopping. Call at least five dealers for price quotes and let each know that you are calling others. Also, be smart by knowing the dealers' costs by checking new car pricing guides.Web sites that provide information on car buying are:
    10. Most people can get an idea of the cost of a car, truck, van or SUV using pricing guides (see above). At the point you are ready to talk about cost, determine exactly what is meant. Cost normally is the selling price plus taxes, tags and title. Some dealers also add fees for various degrees of service such as vehicle processing, shipping or preparation. Save yourself some aggravation by gaining an up-front definition of what both you and the sales person mean when the topic is "cost."
    11. If you a buying a new car, you need to understand about "dealer holdback." The Edmunds site has a good discussion. Knowing about dealer holdback can save you money!
    12. When purchasing a new or used car, your first consideration should be the total cost, not the monthly payment. Monthly payments are a function of the loan amount, but also the term of the loan and the interest rate. Get the best possible price for the vehicle, and shop for the best possible loan rate. These should be separate actions or you risk paying far more than you should. Remember there may be no "cooling off" period on new car sales, in which case once you have signed a contract, you are obligated to buy the car.

      13. Used Cars/Motorcycles/Personal Water Craft

    13. Before buying any used car/motorcycle/PWC:
      • Compare the seller's asking price with the average retail price in a "bluebook" or other guide to prices found at many libraries, banks, and credit unions. The Web site for the Kelley Blue Book is http://www.kbb.com.
      • Have a mechanic you trust check the car/motorcycle/PWC, especially if the conveyance is sold "as is." Be aware that some unscrupulous auto sellers illegally turn back odometers. Ask to see the previous records where mileage is recorded and check using the Vehicle Identification Number (VIN).
    14. Consider purchasing a used car/motorcycle/PWC from an individual you know and trust. They are more likely than other sellers to charge a lower price and point out any problems with the item.

      Auto Leasing

    15. Don't decide to lease a car just because the payments are lower than on a traditional auto loan. The leasing payments may be lower because you don't own the car at the end of the lease.
    16. Leasing a car is very complicated. When shopping, consider the price of the car (known as the capitalized cost), your trade-in allowance, any down payment, monthly payments, various fees (excess mileage, excess "wear and tear," end-of- lease), and the cost of buying the car at the end of the lease. Keys to Vehicle Leasing: A Consumer Guide, published by the Federal Reserve Board and Federal Trade Commission, is a valuable source of information about auto leasing.

      17. Gasoline

    17. You can save hundreds of dollars a year by comparing prices at different stations, pumping gas yourself, and using the lowest-octane called for in your owner's manual.
    18. You can save up to $100 a year on gas by keeping your engine tuned and your tires inflated to their proper pressure.

      19. Car Repairs

    19. Consumers lose billions of dollars each year on unneeded or poorly done car repairs. The most important step that you can take to save money on these repairs is to find a skilled, honest mechanic. Before you need repairs, look for a mechanic who:
      • is certified and well established;
      • has done good work for someone you know; and
      • communicates well about repair options and costs.

      Auto Insurance

    20. Not only are cost and financing big considerations in aut buying, but so is insurance. You can save several hundred dollars a year by purchasing auto insurance from a licensed, low-price insurer. Call your state insurance department for a publication showing typical prices charged by different companies. Then call at least four of the lowest-priced, licensed insurers to learn what they would charge you for the same coverage. Note that the National Highway Traffic Safety Administration provides information on a number of insurance-related issues, the Highway Loss Data Institute offers information especially related to insurance losses for most makes and models, and crashworthiness is provided by the Insurance Institute for Highway Safety.
    21. Avoid adding something called credit life and disability (or something like that) when you are figuring your auto payment. The salesperson may say that's just $20 a month to have the car paid off if you become totally disabled or die. That's $240 a year for the life of the loan or property--say a $25,000 car--that will continually be reduced in value. Note that (a) if you die your heirs can probably sell the car for about what's left on the payments and (b) for $240 a year you can probably buy $200,000 or more of term life insurance.
    22. Talk to your agent or insurer about raising your deductibles on collision and comprehensive coverages to at least $500 or, if you have an old car, dropping these coverages altogether. Taking these steps can save you hundreds of dollars a year.
    23. Make certain that your new policy is in effect before dropping your old one.
    24. Other discounts may be available if you ask: for insuring more than one car, for having a safe driving record, for automatic braking systems and airbags, for taking driver training courses, for having antitheft devices, and for maintaining good grades as in good-student discounts for teen drivers.

      25. Homeowner/Renter Insurance

    25. You can save several hundred dollars a year on homeowner insurance and up to $50 a year on renter insurance by purchasing insurance from a low-price, licensed insurer. Ask your state insurance department for a publication showing typical prices charged by different licensed companies. Then call at least four of the lowest priced insurers to learn what they would charge you. If such a publication is not available, it is even more important to call at least four insurers for price quotes.
    26. Make certain you purchase enough coverage to replace the house and its contents. "Replacement" on the house means rebuilding to its current condition.
    27. However, potential damages due to fire, wind, hail, etc., will not damage your land, so your policy need not cover the cost of the property upon which your dwelling is built.
    28. Make certain your new policy is in effect before dropping your old one.

      29. Life Insurance

    29. If you want insurance protection only, and not a savings and investment product, buy a term life insurance policy.
    30. If you want to buy a whole life, universal life, or other cash value policy, plan to hold it for at least 15 years. Canceling these policies after only a few years can more than double your life insurance costs.
    31. Check your public library for information about the financial soundness of insurance companies and the prices they charge. The July 1998 issue of Consumer Reports is a valuable source of information about a number of insurers.

      32. Checking

    32. You can save more than $100 a year in fees by selecting a checking account with a low (or no) minimum balance requirement that you can, and do, meet. Request a list of these and other fees that are charged on these accounts.
    33. Automatic Teller Machine (ATM) fees can mount up quickly if you use your ATM card at teller machines where a service fee is charged. Estimate the amount of cash you spend each week and consider withdrawing that amount from your accounts. Use your ATM cards only for an emergency.
    34. Banking institutions often will drop or lower checking fees if paychecks are directly deposited by your employer. Direct deposit offers the additional advantages of convenience, security, and immediate access to your money.
    35. Consider enrolling in a banking online program if you can find a low-cost or no-cost program. Save in postage for bill paying and enjoy the convenience of paying bills when you want to (by specifying payment dates) rather than when you find time to pay.

      36. Savings and Investment Products

    36. Before opening a savings or investment account with a bank or other financial institution, find out whether the account is insured by the federal government (FDIC or NCUA). An increasing number of products offered by these institutions, including mutual stock funds and annuities, are not insured.
    37. To earn the highest return on savings (annual percentage yield) with little or no risk, consider certificates of deposit (CDs) and treasury bills or notes.
    38. Once you select a type of savings or investment product, compare rates and fees offered by different institutions. These rates can vary a lot and, over time, can significantly affect interest earnings.

      39. Credit Cards

    39. You can save as much as a thousand dollars or more each year in lower credit card interest charges by paying off your entire bill each month. If you do this and select a credit card company that provides "cash back," then this can be even another benefit.
    40. If you are unable to pay off a large balance, pay as much as you can and switch to a credit card with a low annual percentage rate (APR). For a modest fee, RAM Research Corp. (800-344-7714) will send you a list of low-rate cards. You can obtain a list of low-rate cards by accessing http://www.ramresearch.com on the Internet.
    41. You can reduce credit card fees, which may add up to more than $100 a year, by getting rid of all but one or two cards, and by avoiding late payment and over-the-credit limit fees.
    42. Reduce your junk mail by contacting the big three credit bureaus or just dial Optout 800-353-0809 which services (Equifax 800-556-4711, Experian 800-353-0809 and Trans Union 800-680-7293) and tell them you don’t want your name given to credit card companies or other firms seeking new customers.
    43. Rebate cards can appear attractive, offering everything from cash-back to airline points, to phone bill discounts, to saving at the gas pump. In return, the fees and interest rates for such credit cards may be higher than you could get otherwise. Also, what good is a "free" airplane ticket if you get it from an expensive card and have to charge a jillion dollars to earn the benefit?

      44. Auto Loans

    44. If you have significant savings earning a low interest rate, consider making a large down payment or even paying for the car in cash. This could save you as much as several thousand dollars in finance charges.
    45. You can save as much as hundreds of dollars in finance charges by shopping for the cheapest loan. Contact several banks, your credit union, and the auto manufacturer's own finance company.

      46. First Mortgage Loans  (The Federal Reserve Board publishes a Home Mortgage Guide with valuable information on the subject.)

    46. Although your monthly payment may be higher, you can save tens of thousands of dollars in interest charges by shopping for the shortest-term mortgage you can afford. On a $100,000 fixed-rate loan at 8% annual percentage rate (APR), for example, you will pay $90,000 less in interest on a l 5-year mortgage than on a 30-year mortgage.
    47. You can save thousands of dollars in interest charges by shopping for the lowest-rate mortgage with the fewest points. On a 15-year, $100,000 fixed-rate mortgage, just lowering the APR from 8.5% to 8.0% can save you more than $5,000 in interest charges. On this mortgage, paying two points instead of three would save you an additional $1,000.
    48. If your local newspaper does not periodically run mortgage rate surveys, call at least six lenders for information about their rates (APRs), points, and fees. Then ask an accountant to compute precisely how much each mortgage option will cost and its tax implications.
    49. Be aware that the interest rate on most adjustable rate mortgage loans (ARMs) can vary a great deal over the lifetime of the mortgage. An increase of several percentage points might raise payments by hundreds of dollars per month. (See more on ARMs below.)

      50. Mortgage Refinancing

    50. Consider refinancing your mortgage if you can get a rate that is at least one percentage point lower than your existing mortgage rate and plan to keep the new mortgage for several years or more. Ask an accountant to calculate precisely how much your new mortgage (including up-front fees) will cost and whether, in the long run, it will cost less than your current mortgage.
    51. Eliminate Unnecessary Insurance. If the down payment on your house was less than 20% of its appraised value, you are most likely paying private mortgage insurance (PMI). For example, suppose you bought an $80,000 home a few years ago and put $10,000 down, leaving $70,000 on a mortgage. If the house today would be apprised at $95,000 and you have paid the $70,000 mortgage down to $68,000, refinancing (assuming the interest rate and refinancing changes are favorable) can save the need for PMI since the difference between the mortgage ($68K) and the value ($98K) is now more than 20%.

      52. Adjustable Rate Mortgages (ARM)

    52. Whenever 30 year fixed interest rates are over 8% you are guaranteed to save a lot of money in the first few years with a good ARM product. To know whether an ARM is the best choice for you, ask yourself the following questions:
      1. Is it likely that I will sell or refinance within five to seven years? Currently, most home loans are paid off within five to seven years. Largely, this is due to people selling for a profit and moving up. The shorter the time that you will be in a particular house, the less risk that rates will work against you.
      2. Is it likely that the Fed will have slowed the economy down (causes rates to drop again) within 3 years? ARMs have a "teaser rate" - a very low starting rate. The rate will rise until it reaches its "fully indexed rate" - index + margin = fully indexed rate. If it is likely that the economy will slow down in a couple of years, then your rate may also decrease after the first few years depending on the fully indexed rate at that time.
      3. If I can save several thousand dollars in the next three years, am I willing to take the risk that my payment may increase significantly after that time? Look at the history of our economy and the subsequent fluctuations in rates. You'll find that rates normally run through a rise-fall cycle in a 3 to 5 year period. If you're buying a home with an ARM product two years after rates started rising, the odds are in your favor that you will be able to take advantage of the low start rate and also the lower future rates brought on by recession.
    53. A good ARM will not only allow you to start with a super low rate, but more importantly it will limit your risk against increasing rates with low caps, low margin and low index. Find out what the current fully indexed rate is and how long will it take to get to that point. When these three things can be had at the same time, you have found a SMART ARM:
      1. The current fully indexed rate is a half percent or more under the 30 year fixed rate.
      2. The periodic rate cap will not allow your rate to increase more than 1% per year
      3. The life time cap prevents your rate from ever going above 10%, you have found a money saving, long term low risk loan.
      This tip thanks to Jon E. Anderson

      Home Equity Loans

    54. Be cautious in taking out home equity loans. These loans reduce the equity that you have built up in your home. If you are unable to make payments, you could lose your home.
    55. Compare home equity loans offered by at least four banking institutions. In comparing these loans, consider not only the annual percentage rate (APR) but also points, closing costs, other fees, and the index for any variable rate changes.

      56. Home Purchase

    56. Real estate agents often work for the seller, not the buyer. You can often negotiate a lower sale price by employing a buyer broker who works for you not the seller. If the buyer broker or the broker's firm also lists properties, there may be a conflict of interest, so ask them to tell you if they are showing you a property that they have listed.
    57. Real estate agents often have a variety of letters after their name to indicate the special training and certifications they have. All other things being equal, you might want to have the best qualified agent. Here is a list of the common credentials.
    58. Do not purchase any house until it has been examined by a home inspector that you selected.

      59. Renting a Place to Live

    59. Do not limit your rental housing search to classified ads or referrals from friends and acquaintances. Select buildings where you would like to live and contact their building manager or owner to see if anything is available.
    60. Remember that signing a lease probably obligates you to make all monthly payments for the term of the agreement.

      61. Home Improvement

    61. Home repairs often cost thousands of dollars and are the subject of frequent complaints. Select from among several well established, licensed contractors who have submitted written, fixed-price bids for the work.
    62. Do not sign any contract that requires full payment before satisfactory completion of the work.

      63. Major Appliances

    63. Consult Consumer Reports, available in most public libraries, for information about specific brands and how to evaluate them, including energy use. There are often great price and quality differences among brands.
    64. Once you've selected a brand, check the phone book to learn what stores carry this brand, then call at least four of these stores for the prices of specific models. After each store has given you a quote, ask if that's the lowest price they can offer you. This comparison shopping can save you as much as $100 or more.

      65. Energy Efficiency Programs for Replacement Furnaces, Water Heaters and Air Conditioners

    65. Check with your local utility company for grants or low interest loans that are rolled into your utility bill when you purchase energy efficient units. Energy savings could largely pay for the cost of the item.
    66. Installing an insulating jacket around your water heater can result in savings, as can turning the temperature of your water heater down to 110-120 degrees (no need to run it hotter).

      67. Electricity

    67. To save as much as hundreds of dollars a year on electricity, make certain that any new appliances you purchase, especially air conditioners and furnaces, are energy-efficient. Information on the energy efficiency of major appliances is found on Energy Guide Labels required by federal law.
    68. Enrolling in load management programs and off-hour rate programs offered by your electric utility may save you up to $100 a year in electricity costs. Call your electric utility for information about these cost-saving programs.

      69. Water

    69. A lot of the water used in your home is used in the bathroom. A toilet uses four to five gallons for each flush and a shower uses five to ten gallons per minute. Do not use the toilet for a trash disposal and flush only when necessary. Fix faucet leaks and leaks in the toilet tank or bowl that can waste thousands of gallons of water a day. Check to see if your water department is offering rebates on replacement of 4-5 gallons per flush toilets with 1.6 gallons per flush toilets. Long, hot showers are nice, but run up your utility bills. Shorten your showers. Turn off the water while soaping or shampooing and install flow restrictors and water-saving showerheads. Don't let the sink faucet run while shaving, washing, or brushing your teeth.
    70. The kitchen is also a large user of water. Reduce the time you let water stream from the faucet. Use a stopper for the drain or use a pan of water when washing vegetables. The water can later be poured onto houseplants. Use the garbage disposal sparingly. Load the dishwasher to capacity. A partially filled washer wastes water and energy. Use the shortest cycle necessary to get your dishes clean and use the air-dry cycle.
    71. Water can also be saved outdoors. Washing sidewalks and driveways with a hose is costly - use a broom. Water your lawn sparingly and only during cool morning or evening hours. Don't waste water by letting it run on sidewalks, the driveway and into the street.

      72. Home Heating

    72. A home energy audit can identify ways to save up to hundreds of dollars a year on home heating (and air conditioning). Ask your electric or gas utility if they can do this audit for free or for a reasonable charge. If they cannot, ask them to refer you to a qualified professional.
    73. Conserve fuel by keeping your house cooler than normal. Temporarily "close off" heat to rooms you use rarely. Windows and doors are places where large amounts of heat escape. Stuff cracks around windows and doors with towels or other such materials.
    74. Use kitchen, bath, and other ventilating fans wisely; in just one hour, these fans can pull out a houseful of warmed or cooled air. Turn fans off as soon as they have done the job.

      75. Home Air Conditioning

    75. Don't set your thermostat at a colder setting than normal when you turn on your air conditioner. It will not cool your home any faster and could result in excessive cooling and, therefore, unnecessary expense.
    76. Consider using an interior fan in conjunction with your window air conditioner to spread the cooled air more effectively through your home without greatly increasing your power use.
    77. Plant trees or shrubs to shade air-conditioning units but not to block the airflow. A unit operating in the shade uses as much as 10% less electricity than the same one operating in the sun.

      78. Local Telephone Service

    78. Check with your phone company to see whether a flat rate or measured service plan will save you the most money.
    79. You will usually save money by buying your phones instead of leasing them.
    80. Check your local phone bill to see if you have optional services that you don't really need or use. Each option you drop could save you $40 or more each year.

      81. Long Distance Telephone Service

    81. Long distance calls made during evenings, at night, or on weekends can cost significantly less than weekday calls.
    82. If you make more than a few long distance calls each month, consider subscribing to a calling plan. Call several long distance companies to see which one has the least expensive plan for the calls you make.
    83. Whenever possible, dial your long distance calls directly. Using the operator to complete a call can cost you an extra $6.

      84. Shopping

    84. Sometimes getting a lower price is simply a matter of asking. An easy way to ask is to say, "Is this item due to be on sale soon?" You might then inquire if you could get the sale price early. Also, recognise that the sales person may not have the authority to cut prices so ask for the manager. The worst case answer is "No," and you can always walk away.
    85. "Grocery" shopping isn't always done best at grocery stores. Stores such as K-Mart and Wal-Mart can be much cheaper for paper products, laundry detergent and sodas ... and there may be other stores that offer specialty products at a price that grocery stores cannot match.
    86. Don't shop hungry, studies show you'll spend more than you intended, do shop with a list and stick to the list, don't shop with a little one if at all possible - the little ones tend to "help" you fill your basket with not - needed items, and don't buy items off the shelves near the register-they are there just for "impulse" buying.
    87. The racks of goods near the cash registers are there for "impulse" buying - items not on your list but attractive. Impulse buying can add significantly to your bill for items you don't really need. If a item is not on your list and not in your cart before reaching the cash registers, then it it is not your job to give it a good home.
    88. Coupons are worth the time and effort to use. Coupons can be obtain from special coupon flyers, newspapers, mail lists, Web sites, and within stores. There are both manufacturers' coupons and store coupons. Some stores offer double and triple coupon redemptions. With couponing you can save 25% on your grocery bill. However, having a coupon for an item does not mean (1) you need the item or (2) it is less expensive than a similar item for which you have no coupon. Couponing is not a substitute for wise, comparison shopping.
    89. You can save hundreds of dollars a year by shopping at the lower-priced food stores. Convenience stores often charge the highest prices.
    90. You will spend less on food if you shop with a list.
    91. You can save hundreds of dollars a year by comparing price-per-ounce or other unit prices on shelf labels. Stock up on those items with low per-unit costs. Try this example:
        There are three different sized packages of lunch bags.
          The 25-bag package is $1.50.
          The 75-bag package is $3.00.
          The 125- bag package is $3.75.
        What is the unit price of each? Which box is the best buy?

        ANSWER: The unit price of each package is:

          $1.50/25 = $.06 per bag
          $3.00/75 = $.04 per bag
          $3.75/125 = $.03 per bag
        The best buy is the 125-bag package. Each bag costs 3 cents.
    92. Most stores with optical scanners guarantee the scanned price to be correct. These stores often back up this guarantee by offering the item free if the scanned cost does not match the advertised cost. Surprisingly, scanning errors do happen, and a wise shopper will make a mental note of shelf prices, compare shelf prices against scanned prices at the check-out stand, and review the check-out receipt before leaving the store to ensure prices are correct. This one-minute check may say you many dollars from incorrect charges.
    93. Buying in bulk, such as case lots, can result in savings. However, be careful with buying in quantity on specials that may not save you money in the long run. For example, a great special on soda may give you an excellent buy, but if the end result is that you drink more soda than normal, you probably haven't saved any money in the long run. On the other hand, a great special on washing machine soap might save you money in the long run if you stock up because you probably won't consume the soap at a greater rate just because you have a larger-than-normal supply of it.
    94. Carrying a bit too much weight? Then you are probably tempted to purchase over-the-counter diet pills or join a commercial weight loss center. While such strategies may work for some people, most dieters in these programs regain their weight within a few years. Exercising three times a week for 20-30 minutes and eating sensibly is free. Check the American Heart Association Web site for more information. Also use their Menu Planner.
    95. The best time to purchase Christmas Cards is in the days after Christmas. Similarly for a variety of items that are holiday-specific. Since items like Christmas cards can usually be stored for 11 months without creating a space problem, they are good candidates for this type of shopping. In some cases, if you can tolerate limited choices, shopping at the last minute, like on the afternoon of Halloween, can result in some good buys because merchants often begin markdowns early.

      Investing

    96. Rule of 72. Want to know how long it will take to double your money at a 4% annual rate of return? How about at 10%? How about at 15%? A fairly quick way to make an estimate is to divide the interest rate into 72. At 4% it will take about 18 years to double your money. At 12% you'll double it in six.

      Prescription Drugs

    97. Since brand name drugs are usually much more expensive than their generic equivalents, ask your physician and pharmacist for generic drugs whenever appropriate.
    98. Since pharmacies may charge widely different prices for the same medicine, call several. When taking a drug for a long time, also consider calling mail-order pharmacies, which often charge lower prices.

      Taxes

    99. Charitable deductions can add up to tax savings. An old printer, monitor, and CPU may be worth nothing on the open market but $400 to a charitable organization. Donate under these circumstances and get the effect of $112 in your pocket if you are in the 28% tax bracket.
    100. If you prepay your January mortgage in December, you can get 13 months of mortgage-interest deduction. (If you can do this, make sure your Form 1098 reflects this.)

      Retirement Planning

    101. Make sure you understand administrative fees charged if you are in a 401(k) plan. (A 401(k) plan is a retirement saving plan that employers can offer their employees. Often, employers match the employee contribution to some extent, perhaps $0.50 on the dollar.) If your firm's 401(k) provider charges high fees, that can significantly eat into your retirement funds work to have high-fee providers replaced.

      102. Estate Planning

    102. One way of minimizing estate taxes is to use the gift tax. Gifts of up to $10,000 per year do not generate any taxes. Note that estate taxes do not come into play unless you have assets greater than $650,000 (the estate tax exclusion for tax year 1999).
    103. A revocable living trust can provide three benefits.
      • It provides financial protection in case you can no longer manage your affairs (such as if you were in a coma).
      • The trust can function as a will, bypassing probate.
      • It can be linked to a pour-over will to provide privacy in the distribution of your estate

      104. Work at Home Schemes

    104. We have all seen the ads about making $400 a day at home stuffing envelopes or performing some other at-home task. Most of these ventures profit only the vendor, leaving you with expenses and materials. The Better Business Bureau® Web site has a great deal of information on schemes that have been tried on consumers and what you can do to protect yourself.

      105. Funeral Arrangements

    105. Make your wishes known about your funeral, memorial, or burial arrangements in writing. Be cautious about prepaying because there may be risks involved.
    106. For information about the least costly options, which could save you several thousand dollars, contact a local memorial society, which is usually listed in the Yellow Pages under funeral services.
    107. Before selecting a funeral home, call several and ask for prices of specific goods and services, or visit them to obtain an itemized price list. You are entitled to this information by law and, by using it to comparison shop, you can save hundreds of dollars.

Credits: A number of these tips have been obtained from the Consumer Literacy Consortium, a working group of representatives from federal and state government agencies, consumer groups, business organizations, and educational institutions that seeks to develop and disseminate essential messages to inform and educate consumers.
The U.S. Department of Energy's EREN (Energy Efficiency and Renewable Energy) site provided a number of tips on energy savings.
Other material has been obtained from the GSA Consumer Information Center, Pueblo, CA and the Federal Reserve System.