Recently, conversations have been overheard about how bleak the Christmas season might be in 2009 because of economic and personal finance situations. Here’s a tip, however, that might keep it from being a total ‘bust’ for you and your family.

In the past, Christmas club savings accounts at your local bank were more popular than they are now. However, with the economy in the doldrums and job situations on shaky ground, these accounts just might be worth considering. Think about it: if you can afford to set aside a small amount every week beginning right away, you can have a nice amount in time for Christmas and earn some interest as well. And if you do happen to lose your job, at least you will have something in that account which is better than nothing.

Also, whereas banks were hesitant to handle these kinds of accounts in the past because of their temporary nature, they might not be as selective right now.

Are you a candidate? Traditionally those with lower incomes with good savings habits were good candidates for these accounts. Now, however, middle-income families have become candidates for them, too. Any savings vehicle that you can add to your arsenal only helps you financially – even if it is only temporary. It is not a bad strategy to keep $20.00 in the account instead of raiding it completely in November and December. Then, in January begin to build it up again.

How much? This is going to be an account that contains only between $300 to $500 total by the first of November, so the amount of $10 to $15 per week should be sufficient. Also, keep in mind that you are not trying to build up a massive amount of cash in this account. Other high interest bearing accounts are for that purpose. If nothing else, this keeps your Christmas from being completely without cash for gifts.

Automatic deposit. Use your bank and/or direct deposit payroll to make automatic deposits to this account. That way you never ‘see’ the money in your check and chances are good that you will not miss it.  I highly recommend SmartyPig.com for your holiday account – it will automatically pull the amount you specify from your checking account on the date you select, and you’ll earn a great interest rate while you’re waiting for the holiday season to roll around again.

Be Frugal. If you know that you are going to have less money for Christmas this year then choose other means of giving things that cost less or nothing at all. For example, gift certificates for performing some tasks for someone that they would like and appreciate. Or, even making items like food or inexpensive crafts.

If you use these tips and implement them now the economy might still be in a slump come December, but you will still have a Merry Christmas.

When it comes to cutting costs one area where many people can shave hundreds of dollars from their expenses is within the personal care budget. Of course you should not neglect your health or personal care for the sake of a few dollars however there are many ways in which we become accustomed to pampering ourselves that can cost a lot of money. Consider making changes in the following areas to lessen your personal care bills while still having a level of care that you feel comfortable maintaining.

• Buy in bulk- It is common knowledge that buying in bulk can increase your savings. If reasonable consider purchasing shampoo, lotions, soap and other personal hygiene items in bulk if the amount of items you buy can be used in a reasonable period of time. This may not be as feasible for individuals living alone however families may see considerable savings by buying in bulk.

• Save where you can, spend where you should- There are some items that can easily be downsized or eliminated from your beauty line up. Accordingly some items can be purchased at lower costs by not buying brand while other items just aren’t the same when you go generic. Pick and choose your products carefully, cut costs on items that remain consistent across brands and invest a few more dollars on quality products that cannot be easily recreated.

• Let a student style your hair- Maintaining your hair can get quite costly. If you are willing to take the chance on a student, consider going to a “teaching” salon to save money on your hair cuts.

• Reduce dry cleaning- Before you buy a great sweater or suit read the label to see what type of care is required to clean the garment. Whenever possible purchase items that can be laundered at home or at least hand washed on occasion to save the cost of dry cleaning.

• Trade favors with friends- Need a manicure or pedicure? Perhaps you could use a massage. Before running to the spa consider taking turns with a friend who may also enjoy the same treatment. You can catch up while saving each other cash.

• Shop smarter- Compare prices, cut coupons and consider trying products outside of your normal selections. You may find that there is a cheaper product that will offer the same results if you are only willing to shop around and try new things.

 As most of us try to cut costs and increase the working capital into our household budget many people are thinking twice about taking a family vacation this summer. Before you sacrifice a much needed break for your family check out the following tips that can make incorporating a great vacation a reality you can enjoy this summer.

Spend less on getting there.

When you begin looking into your summer destination consider not only the cost of where you are going but how much it will cost to get there. Flying can be one of the most expensive ways of getting from point A to point B, so you may want to consider sticking closer to home and saving the money you would have spend on airline tickets toward your actual vacation activities.

Flexibility can save you cash.

If you are willing to be flexible with your location and dates of travel you can shave considerable amounts of money off of your vacation expenses. Hotels and airlines know when peak travel season hits and adjust their prices accordingly. If you are willing to book late or early and allow room for changes in your itinerary you can save hundreds of dollars on your travel expenses.

Take advantage of programs that offer “free for kids” deals.

Many hotels chains offer programs that allow kids to stay or eat for free. Since traveling with children can get very costly very quickly it is very cost effective to seek out and take advantage of any programs offering free or discounted prices for children.

Share your vacation.

A great way to save money on lodging is by buddying up with friends or other family members. As a general rule you can save big bucks by renting a vacation house or condo versus staying in a hotel and by including a larger group you can split the bill accordingly to make lodging more affordable for everyone involved. When staying in a summer rental you will likely save considerable amount of money on dining out and laundry services as most rentals offer kitchen and laundry facilities which can save you big when traveling with a large group.

Get off the beaten path.

Consider camping, RV’ing or visiting off season spots during the peak travel season. Keep your options open and consider vacation spots that offer summer discounts. If you do your research you will likely find many summer festivities that can offer free or close to free activities for you and your family to enjoy.

When planning your summer getaway keep in mind the goal of “getting away” is to relax and enjoy down time with your family.  By following a few simple tips you can reap the benefits of that much needed vacation without breaking the bank.

Competitive rates on a tiered savings account are being offered at Centennial Bank on a nationwide level. While the account can be opened regardless of where you’re located in the United States, don’t expect the same level of services that you expect from a nationally available internet bank. You can open an account with a minimum of $500, but any balance under $500 will not earn interest. There are no monthly fees. If you open the account with $100,000 or more, you’ll earn as much as 3.30% APY. The tiered rates are as follows, based on the information from Centennial Bank’s savings account page:

Balance             Rate      APY
$500 - $9,999       2.25%     2.28%
$10,000 - $24,999   2.50%     2.53%
$25,000 - $49,999   2.75%     2.79%
$50,000 - $99,999   3.00%     3.05%
$100,000+           3.25%     3.30%

Tiered savings accounts at Centennial Bank have a limit of 4 withdrawals per month. Withdrawals made beyond four will be charged a $5 fee. You can’t make more than 6 withdrawals in a month. Interest is compounded daily and credited monthly. When you close an account, you’ll receive the accrued interest the same day you close it.

You can open a tiered savings account with Centennial Bank no matter what state you live in – but you have to mail the application as they do not have any internet access to your account. You can fund the account via a wire transfer or by check. It’s an account that is meant to help you save, so don’t expect immediate access to your funds.   For some people, this will be an advantage because it’s more difficult to get their savings out.  For other people, this will be a turn-off as they don’t want to jump through hoops to withdraw their money when they need it.

Withdrawal requests need to be made in writing, via the mail or fax, and there is no ACH capabilities. If you want to wire transfer a withdrawal, there is a $35 fee.
So while Centennial Bank is open on a nationwide basis, it’s a small one-office bank in California. They don’t make it overly easy for out of area people to bank with them, however they have a history of competitive interest rates. For long term savings that you don’t plan to access regularly, it may be worth the hassle of not having internet access to your account.
Centennial Bank has been FDIC insured since 1989. Bankrate.com and BauerFinancial give the bank 4 stars (excellent and sound) for it’s level of safety and soundness based on September 2008 financial data.

If you’re like many Americans who are trying to save more money during the economic down turn, you’re going to need a place to put it. You shouldn’t put it in your mattress, and you shouldn’t put it in one of those multi-national mega-banks which will provide you a fraction of a percentage of interest. Instead, go with an online savings account that will give you 2% to 3% interest on your money in today’s market.

Here are some consideration factors:

Hassle - If the account requires you to go through a long, drawn out account process that involves you mailing them in a bunch of forms, you and your wife/husband’s signature(s) and autographs, etc, you should probably just go on to the next bank. These things are designed for convenience, and if the account you’re trying to open is a huge pain, there’s probably something else wrong with that bank too.

Interest Rate - You should make sure that you’re getting a good rate of return on your money. The average rate of return that you will be able to get on your money right now is just about 2.5%. ING Direct is currently offering 2.4% and FNBO Direct is offering 2.6%. If you opt for a CD, you can probably get about 3.00% right now. Make sure that the bank you are with is offering you a good interest rate, and has had a history of higher interest rates than the rest of the market.

Customer Reviews - Read reviews of the bank by their current customers. They will be able to tell you about any technology issues such as server-down time that the banks have had in the past. They’ll also be able to tell you about their experiences and feelings about the bank. Watch out though, customers are more likely to post complaints than rave reviews about banks. It might just be one or two disgruntled customers that are mad because they couldn’t take money out of their account to buy Civil War letters and other memorabilia

Customer Service Options - Your bank should offer you plenty of customer service options, such as the ability to call in if you have a problem or the ability to send them an email and have them write you back.

If you’re saving up for a purchase such as a new flat-screen TV or Charles Schulz art, consider a goal savings account like SmartyPig, otherwise go with a traditional online savings account that offers you a great interest rate and customer service to go with it.

Across the nation bankruptcies and loan defaults are becoming all too common.  Consumers who are not able to keep their commitments financially are found not just here, but in other nations as well.  The clouds of personal finance storms are everywhere: UK Report.

How are our savings accounts holding up?  Is there any hope that we will have anything left once this has passed?

In the Middle of the Storm.  Network news anchors delight in spotlighting the negative so we continue to hear every day about how bad it is becoming.  And while it does appear that the worst might still be ahead of us, the best advice is just to hold on as best you can.  The mounting bankruptcy and loan default numbers tell the story that it is too late for many.  Others are trying to find a way to ward off financial ruin.  Learning how to survive in a ‘down’ economy is challenge all its own but not impossible.  Many who have lost their jobs will be forced to take on other jobs that they never would have imagined just to make ends meet.

After the Storm.  The cycle of economic forces will bring us back around to better times.  This is best chronicled in the years following the Great Depression of the late 1920s.  In the years following WWII, the steady and strong growth of our economy went unabated for decades.  Our nation needs a reason to begin the rebuilding process, but hopefully it will not be another world war.  So, we look for a catalyst to point the way out hopefully sooner rather than later.

Re-building.  After our economy begins to come back to life, there will be many opportunities from which to profit and rebuild savings and investment accounts.  But, it will require global demand for products and services which will create jobs in the private sector.  The best role for government in all of this is to help the process along.  Contributions to the ability to re-start saving and investing can be made by lowering taxation and regulation where possible.

The most confident and respected advisers tell us to do what it takes to survive, look for opportunities to save money for the things that matter, and be on the lookout for improving financial signs that help us make wise decisions when it comes to saving and investing.

Desperation is where many are finding themselves because of the inability to make their mortgage payments.  This situation is not limited to the USA. Global economic unrest has caused other nations like the UK to hear the cries of those burdened by financial duress as evidenced by this report:  UK Mortgage Crisis

Anyone in this situation around the world would welcome the following advice:

Speak Up.  Initial reaction from one found in this situation often is to retreat and close down all communications.  This is a recipe for disaster.  Should you find yourself in this predicament, your first step towards getting help should be to pick up the phone and make a call.  It should be of comfort knowing that mortgage companies have already anticipated these difficult times and are in position to help.  Losing your home would be the outcome of inaction, but also the mortgage company stands to lose money.  Given this reality, they are more than ready to work with you in order to help you keep your home.

Take Action.  In addition to contacting your mortgage company, you need to institute other activities as well.  Telling your family of the serious situation in which you find yourselves is a first step.  There is no reason to impose emotional stress of the prospect of losing your home into an already volatile financial crisis.  Start the conversation with a frank discussion of the facts and then resolve to work together to prevent the loss of the home.  Part-time work might be needed in order to bring in extra money to meet expenses.  Most of us have extra items lying around the house that can be sold and the cash used towards paying the mortgage and other bills.  Creativity in bringing in extra income will result in surprising gains.

Lower Expenses.  Debt Consolidation programs exist to help you meet your unsecured debt obligations.  Searching out the most reputable company to perform this function can be a chore.  There are many companies who would like to take you as customer, only to deliver on less than they promise.  Care must be taken in choosing such a plan.

Lowering expenses is just a part of an overall effort to bring your income and expenses into balance.  Most households can find unnecessary expenses with little effort.  Look for those which do not affect your ability to survive, but just add to your quality of life.  Things like the cable TV bill or an extra unnecessary cell phone are good places to start your search.  In fact, you will miss these little extras very little while seeing your overall financial picture improve greatly each month.

Taking a realistic view of your finances and making changes to help be able to meet your monthly mortgage payment will pay off if you are diligent.  Nothing replaces hard work and determination and you will be amazed at the amount of results you will begin to see from your efforts.

Chase and WaMu are in the process of joining, and WaMu is considered part of Chase – however, the two still maintain separate bank branches and that will work to your advantage for today’s President’s Day promotion.  If you are a Chase customer, you can take advantage of the WaMu offer; and if you are a WaMu customer, you can take advantage of the Chase offer.  Oh- and if you’re neither a Chase or WaMu customer yet, you can choose which one you’d rather use .

Visit your local Chase and WaMu  branch today, President’s Day, and take advantage of their $100 promotion for new customers opening a checking account with direct deposit. You’ll need to open the account with $100. You don’t need a coupon or a code, but it is only a one day special promotion.

$200 Bonus for Chase Business Checking Account

Then, Chase is offering new business checking accounts that are opened with a minimum deposit of $500 a $200 bonus.  Here’s the link to the promotional page to take advantage of this offer.  You have a little more time with this one, and if you open your account between now and 3/28/2009 you’ll qualify for the $200 bonus. You will need to print the coupon from Chase’s promotional page for this offer.  Call Chase before you open the account to see what requirements they need for opening a business checking account; some require just a Tax ID number and/or business certificate, but others require additional information to take advantage of a business checking account offer.

Don’t already have your Tax ID number for your business?  Well, you can apply for a Tax ID through the IRS right online.  As soon as you are approved, you’ll have your number and can use it to open a business checking account and qualify for the $200 bonus.

The following business checking accounts are included in this promotional offer:

• Chase BusinessClassic Checking
• Chase Advanced Business Checking
• BusinessPlus Checking

All of the business checking accounts charge monthly fees, although on BusinessClassic and Advanced Business accounts, if you maintain a minimum balance you can waive the monthly fee.

Where to Find Chase Bank Branches

Chase has branches in many states, although none in California.   States with Chase branches include:

• Arizona
• Colorado
• Connecticut
• Florida (Southwest)
• Illinois
• Indiana
• Kentucky
• Louisiana
• Michigan
• New Jersey
• New York
• Ohio
• Oklahoma
• Texas
• Utah
• West Virginia
• Wisconsin

Chase is FDIC insured under JPMorgan Chase Bank, N.A.

The question of whether or not cutting coupons can save you money at the grocery store is not debatable. The fact is if you cut and use coupons wisely you will save money at the checkout line. What is debatable is whether or not cutting coupons is right for everyone; some individuals simply do not find the savings worthy of this slightly time consuming task. For those of you who find the savings are worth your time the following tips to organize the process can make a big difference in how much money you can shave off your grocery bill each trip.

• Start Clipping- It would seem obvious but many people who “try” to use coupons don’t get the most benefit simply because they forget to clip the coupons they save. If you find yourself saving grocery fliers or pages of unclipped coupons you have probably already discovered that if you wait too long to actually clip the coupons many go to waste as the stack of unclipped coupons grows into a stack of expired coupons. Designate a few hours each week where you can sit and clip all your coupons before their value is lost.

• Get Organized- It is important to be organized while clipping coupons so that the stacks of unclipped coupons does not turn into piles of clipped coupons. You should organize and store all of your needed tools in one easy-to-access location. The only tools required are a scissors and some form of storage container for clipped coupons. Some consumers purchase a coupon organizer while others use labeled envelopes to help stay organized.

• Organization Method- You don’t want to get to the grocery store with your coupons only to discover you can’t find the one coupon you were sure you had. Take a few moments when you are at home to organize your coupons to streamline the process of finding them once you are at the store. You may choose to organize the coupons in groups such as paper products, personal care items, frozen foods and pet supplies. Perhaps you prefer organizing your coupons in alphabetical order by product or manufacturer name. Choose whichever method works best for you.

• Buy only what you need- Coupons will not save you money if you end up making purchases that you would otherwise not consider. Some coupons require you buy a certain number of products in order to save money. If you wouldn’t normally purchase that number of items or find you really do not need an item, do not make the purchase because you have a coupon for the item.

In an economy where everyone is trying to save a few bucks, cutting coupons is an easy way to reduce your grocery bill. By following the steps above you should be able to streamline the process so that it only takes a few more moments of your time to see some real savings.

The house passed the $787 billion stimulus package without the support of the Republican party. The stimulus package includes a $400 tax credit for working individuals in 2009 and 2010. For the rest of 2009, workers will pay less out of their paychecks in taxes, and see an extra $13 per week in their checks. In 2010, with a full 12 months to spread out the tax credit, it’s estimated that each check will contain an extra $7.70 per week.

The extra $13 doesn’t seem like anything much to write home about, but it’s all how you use it. You’ll have an extra $52 each month for the rest of the year – and that’s enough to make a difference!

 Pay Off High Interest Debt Faster

 With an extra $52 a month, you can make great gains paying off your high interest debt. The sooner you pay it back the less you’ll pay. When your debts are paid off, you’ll have that much more money each month for saving, investing, and discretionary spending.

Establish an Emergency Fund

Financial experts everywhere talk about the benefits of having an emergency fund. It’s often recommended that you have three to six months of living expenses saved, but for the great majority of people living paycheck to paycheck, it would take three to six years to save that much money! Use the $52 a month from the stimulus package and finally start your emergency fund.

Save for a Little Entertainment

If you’ve been struggling in the tight economy and cutting back all unnecessary expenses, you might consider the extra $52 a month your ticket to some entertainment! It’s money you weren’t counting on, so why not treat yourself to a nice dinner for two every other month, or go out to the movies, or whatever else you’ve been denying yourself.

Start Investing

If you’re not ready to put money into the market, you could invest with FDIC insured deposit accounts. There are a variety of options with fixed interest rates that guarantee you won’t lose your investment.