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The government has finally regulated some of the rules for credit card companies and how they treat their customers. This should be beneficial to the consumer, although there are a number of problems that the government failed to address.

Credit card companies will no longer be able to raise the rates for a customer retroactively, unless the cardholder is behind in his payments. The new bill attempts to provide much clearer terms to the consumer, while preventing over-the-limit-fees from skyrocketing, along with interest rates. All of these changes should result in the consumer having a clearer picture of his position with the credit card company so that he can make his debt decisions based on this knowledge.

There will probably be some unintended consequences resulting from this new law and a few anticipated ones follow:

Credit card issuers are likely to increase annual percentage rates soon, before the new law goes into effect, in response to the rule that they cannot increase rates for new customers for one year after the law takes effect in February. It is expected that annual rates will increase, along with APR’s on existing accounts. This could be true for everyone, but especially anyone who is any sort of a credit risk. A cardholder who is late with a payment, is over his credit limit, or even uses too large a percentage of his limit, could find their rates increasing.

The best way to keep credit card issuers from raising rates is to pay your bills early, always send more than the minimum payment, and refrain from using more than one-third of your allowable limit. Even following all of these rules does not guarantee that your interest rates will not be raised, because the government did not place a limit on rates.

More people than ever will be charged annual fees. Those who use their credit cards and then pay off their balances each month, can expect to have to pay for the privilege of having a credit card in the near future.Credit card companies are expected to fight back by possibly eliminating grace periods. This would mean that interest would be charged from the date of purchase; therefore, everyone would have to pay interest if they used their credit cards.

No restrictions have been placed on balance transfer rates, late payments, or cash advance costs. It is predicted that late payers, especially those who are 60 days or more past due, will be charged considerably more in the form of penalties.

If any of your plans include crossing the border of the United States by land or sea in or returning from another country such as Canada, Mexico, Bermuda or the Caribbean, it is very important that you and your traveling companions are aware of the new laws which will be taking effect on June 1^st.

After the effective date of June 1^st, everyone crossing the border will be required to show a passport or another single document that proves both identity and U.S. citizenship. Currently, you are allowed to show separate identifications showing citizenship and identity, such as your license and your birth certificate. These will no longer be accepted after June 1^st. Airline travel already requires a passport for crossing these borders and, obtaining one at this time, will help you with all types of travel you plan for the future.

If you decide to obtain a passport, plan well ahead as it can take many weeks to complete the process. U.S. passports are valid to ten years for adults. Those under the age of 15 are required to renew their passports after five years.

Since people often forget when their passports will expire, there is a website called ItsEasy.com which will remind you up to 9 months prior to expiration. The reminder is free, but they also sell expediting services and will be happy to help you renew.

If you only travel by sea and land, there are alternatives to a passport that will serve you well for less cost. Although these are not valid for air travel, you may apply for a passport card or an enhanced driver’s license, which are both acceptable proof of identity and citizenship.

Unfortunately, it is becoming apparent that those working today are becoming increasingly distressed by their situations. They believe that everything in the workplace is changing and are becoming depressed about their futures. This unhappiness will result in lower morale and decreasing productivity, neither of which is good for the employee or the employer.

Recent surveys have shown that the following are the major concerns of a majority of employees:

• Half of all employees surveyed are worried about job security. Even more are constantly concerned over the unemployment rate.
• Many are anxious that they will not have enough money to retire as they had planned. After working many years and saving towards your retirement, it must be upsetting to see that it will probably not happen when and how you have expected. Six out of ten surveyed have lost retirement savings. 33% fear that the money is gone for good, while half think it will be recovered but could take five more years at least.
• Office water-cooler conversations are dominated by economic fears. Subjects are often pay cuts, salary freezes, and layoffs.

It is sad to think that people are living with all of these fears on a daily basis, yet it is a fact during these hard economic times. Meanwhile, of course, you also have to consider all of the people who wish they just had these jobs, rather than to be on unemployment and seeking jobs which are so very scarce.

Even though homes are selling for less money, this has not resulted in lower rents for those who lease homes or apartments. Since the recession has forced many people out of their jobs, the working-class tenants are the people who are suffering the most. The explosion of foreclosures on homes has greatly increased the number of people who are looking to rent. People are competing for low-cost rentals and rental rates have not come down, because the demand is greater than ever.

The median hourly wage for a renter is $14.69 per hour. Unfortunately, in order to meet the monthly rent ($928.00) on an average two-bedroom apartment, a person must earn a minimum of $17.84. The lowest-income renters are becoming desperate to find adequate housing and many may eventually become homeless. Construction, manufacturing, and retail, are the industries that employ the majority of low-income workers and are also the companies that have been hardest hit by layoffs. This is leaving many of our residents with few options for earning a living and supporting their families. They are visiting food pantries in record numbers and desperately trying to hold onto their current housing if at all possible.

The rental problems, however, are not just felt by the low-income people. In many areas of the country, real estate is still expensive and rentals are in great demand at very high rates. The solution for many who want to live in areas such as Orange County, California, is to have a roommate. Some apartments are large enough so that several people can share them. This is an option for single people, but would not work well for families. Living in high cost areas generally allows an employee to make a higher salary, but the cost of living is comparable, so it is still difficult to get ahead.

One of the few bright spots in today’s economic times is the availability of lower interest rates, especially as they pertain to mortgages. Because of these lower rates, many homeowners are considering refinancing their current loans in the hope of saving money on the interest they are paying. The main thing people must be aware of when considering refinancing, however, are the fees and costs that will be involved. These could be so high as to negate the benefits of the refinance, so they must be thoroughly investigated before you commit to a new loan.

Generally, the “teaser” or lowest advertised rate is associated with a loan that has high closing costs and often requires the payment of “points”. A “point” on a loan is the equivalent of 1% of the loan’s face value. Some loans can require as many as two or three points at closing.

If you have excellent credit and a very good payment history, you may be able to obtain a loan with no closing fees whatsoever. Many banks today are looking to increase the quality of the loans on their books and, therefore, are anxious to solicit exceptional quality customers.

It is generally advised that you should shop out three different lenders and compare the costs and terms available. This should give you a fair representation of what is available to you at this time, and help you decide if refinancing is right for you.

If you are looking to gain extra cash from your refinancing, or you have a high loan to value ratio, or a mediocre credit score, you may be required to pay a new fee that the federal government is requiring lenders to charge. This fee is called a “Loan-Level Price Adjustment” and could be quite high, possibly causing you to rethink the refinancing altogether. It is due at closing and should be paid out-of-pocket.

These are just a few of the items you must consider while weighing the value of refinancing your current mortgage. After comparison-shopping, it would be a good idea to consult with a professional to determine if they think you are making the right move at this time. Costs can easily negate savings, making this refinancing much less attractive. Be certain that you have done a complete investigation before making a decision regarding the largest investment you will probably ever have.

Everyone, at one time or another, is looking for additional cash. Whether you plan to add it to your savings account, meet an unexpected expense, or purchase something new for your home or yourself, there is almost always a need for more money. There are a variety of ways to go about earning or raising this additional cash and the following are just a few:

• Review your insurance coverage to be certain that you are not over insured. Many people do carry higher limits than necessary and are, therefore, paying extra premiums. Lower premiums will result in more available cash.
• If you have gift cards going unused, sell them online or trade them for cards that you will use. There are actually 6.7 billion dollars in unredeemed cards. If you are one of the hoarders, it’s time to clean house and turn those cards into money.
• If you received a large tax refund this year, consider filing a new W-4 with your employer so that the extra money you are currently lending the government will show up in your paycheck regularly instead.
• Consider taking a part time job to supplement your income, at least temporarily.
• Surf the Internet to find coupons and special deals on items that you were already planning to purchase. Grocery deals, restaurant meals, vacation packages are all available at great savings. Join e-clubs that are free so that you can benefit from their offers.
• Freelance work is often available online if you have the necessary qualifications. Writers, programmers, graphic designers and marketers are all in demand.
• Everyone, at some time, has an old cell phone. Consider recycling it where you can also earn cash for it. Sites such as CellForCash.com and Flipswap.com are just two of several that will make you an offer online and allow you to print a prepaid mailing label. Check with a few sites as prices paid vary considerably and you want to get the best deal that you can.
• If you have books at home that you no longer want, consider visiting the site www.Cash4Books.net, where you can type in the book’s ISBN (located on the back cover or the copyright page) and see if they will buy it for cash. They will provide a prepaid mailing label and send you a check after receipt. After checking the books you own, consider visiting garage sales, etc. to check out old books. If you own an Internet-enabled PDA, you can look up books at their site as you shop so you will know immediately which ones are a good deal for you.

When we are making plans to travel, occasionally it will cross our minds as to where in the plane is the safest place to be. Studies have shown the seats you want to occupy are within five rows of any exit. The absolute safest seats are in an exit row or one row away. Plane travel, however, is relatively safe for all passengers as the survival rate for passengers in serious crashes is 76.6%, much higher than we would anticipate.

When booking a hotel room, consider the fact that most fire departments use ladders that extend to a maximum of 80 feet, which is generally equivalent to the seventh floor. Consider this when accepting any room on a higher floor as hotel fires can often be fatal to guests in upper floors.

Statistics have shown that entering a hospital on a weekday is the safest thing to do. People who begin their stays on a weekend have a higher mortality rate. It is believed that this is caused by the fact that hospitals are understaffed over the weekend and the staffs that are working are less experienced than those who are there during the week.

If you have been hospitalized, try not to be released on a Friday. Most doctors try to send their patients home for the weekend. Statistics, however, show that the majority of people released from the hospital on a Friday show an increased risk of readmission to the hospital. Studies suggest that the rush to get patients out can cause people to be discharged with inadequate instructions or prior to being fully stable. Also, fewer home-support services are available on weekends.

If you are destined to have a heart attack, try to have it in a Las Vegas casino. Survival depends on how fast rescuers can shock your heart and bring back normal rhythm through defibrillation. Since security cameras and guards are regularly scanning the activity in a casino, they will notice when a visitor collapses. They are trained in the use of defibrillators and generally can administer help within two to three minutes. The heart attack survival rate in Las Vegas is 53% compared to 16% in Seattle (where some of the nations best response systems are located), and 2% in Chicago.

The safest seat in an automobile is the one nobody wants. It is the middle seat in the back. This was 16% safer than any other seat in the vehicle. Riding in the back of a car is 59% to 86% safer than riding in the front. Statistics have shown that cars with dark paint are more likely to be involved in serious accidents, while cars with white paint were the least likely to be involved in serious accidents.

Although this sounds very unlikely, researchers who have analyzed millions of death certificates have reported that women are more likely to die in the week after their birthdays than any other time of the year, while men’s deaths peak before their birthdays. It is thought that birthdays may act as a “lifeline” for women who prolong life for the occasion, but act as a “deadline” for men.

It is once again the time when the weather is very unpredictable and power loss happens frequently. By being prepared, you can make yourself and your family much more comfortable while waiting out the storm.

It is always wise to review the pantry for crackers, canned foods, dried fruits, etc. Confirm that you have disposable plates and utensils on hand and, if appropriate, baby food and formula.

It is suggested that you have five gallons of water for each person. This supply would be adequate for five days.

Be sure medicine supplies are sufficient for at least a one week period of time.

Prepare to have alternate methods to heat your home, such as dry firewood or kerosene.

Check that you have a non-electric can opener, matches, candles and sleeping bags. A well-stocked first aid kit, flashlight and battery-powered clock radio should also be available. Extra batteries, shovels and rock salt will also help you better deal with the situation.

It always pays to be prepared.

The economic crisis we are currently experiencing is forcing employers to find new ways to cut their budgets. In an attempt to avoid layoffs of personnel, many are insisting employees take unpaid leave. Approximately 12% of the 10.3 million unemployed people fall into this temporary category. Although many are concerned over the cut in pay they are experiencing, the reality is that it is certainly better than losing their positions completely.

Some employers are forcing staff to cut days, but insisting that it be done at the employer’s convenience, and that all work is up-to-date. The employee is expected to attend all meetings and keep all appointments. These expectations can be somewhat unrealistic, but everyone is doing their best to cope with the current problems.

Factory workers are finding the companies are extending shutdowns while trying to reduce inventory. Many face pay cuts that will amount to 6% or more of their salaries. Creative financing by the entire family is necessary to make ends meet under these circumstances.

Major corporations including Winnebago, Dell, and General Motors have extended holiday shutdowns and are requesting personnel to take unpaid personal time during the fourth quarter of the year. This, in turn, spreads to many of their suppliers and vendors so that the effect on the economy just keeps multiplying.

Over the past year the number of unemployed people in the U.S. has increased by 2.7 million. Unemployment has effected all of us in one way or another. Everyone feels extremely sorry for the person who was laid off and realizes how difficult this must be to cope with. However, what is often not acknowledged is that it is also very stressful to be the person left behind. You are considered lucky because you still have your job and income and, in some ways, you are. The problem is that your situation brings with it a new set of problems.

If you have recently survived a company downsizing, you are probably wondering why you suddenly feel sad, frightened, and angry. These reactions are perfectly normal and most people in your position experience them also. You have something referred to as “survivor’s guilt”, even though you most likely had no role in choosing who would stay and who would lose their jobs. You also must begin to worry whether or not you will survive the next round of layoffs. Meanwhile, you are most likely being asked to cover the tasks of the people who are no longer there. All of this can amount to a great deal of stress and can leave the survivor feeling awful.

Discuss your new responsibilities with your supervisor and review these new tasks with the intention of prioritizing your tasks. It is important that you work hard at performing these jobs well, but do not work so many hours that your health becomes threatened.

Plan a follow-up meeting with the boss to review your performance and discuss your future at the company. If communication is poor, begin to look for a new position. Layoffs are usually a warning sign that more are to come. Begin networking immediately and contact everyone you know who might possibly be able to help you find a new position. The majority of people find new positions through networking rather than by posting resumes on websites.

With all of this going on in your life, remember to take good care of yourself. Make sure you are eating properly and getting plenty of exercise, as exercise is both a stress reliever and an anti-depressant.