Attention Garden State! Think you have no control over the cost of your auto insurance? Think again. Here are great ways New Jersey drivers can save big.
*Choose your plan wisely Shopping around for your plan will guarantee optimum savings. Some insurance companies offer more savings than others, so make sure you do your research before settling down on one company.
*Own a home Some insurance companies offer discounts if you are a homeowner. If you are a Consumer United member, High Point offers up to 15% off your insurance if you're a homeowner.
*Multi-car discount If you are applying more than one vehicle for an auto insurance policy, some companies are bound to give you a discount. High Point Auto Insurance offers up to 10% off multi-car policies.
*Drive safely Safe driving is bound to get you a discount. If you have been violation and accident free for over three years, High Point Auto Insurance offers up to 12% off your policy. You can also receive a $100 reduced deductible each year for having no "at-fault" accidents with High Point.
*Bundle your plans Insurance companies that offer other kinds of coverage, like home or life insurance, can be a source of additional savings.
*Join a group Are you a member of a credit union or civic organization? In recent years, many insurers have offered discounts to groups to attract new customers.
*Paid-in-full discount Shoppers who pay in full will most likely receive a discount on their policy. At High Point Insurance, a paid in full premium will save up to 13%.
*Insure your kids With High Point Insurance, you can receive a discount if your child in the household drives, is insured, and is under the age of 19. The policy must be inforced at least two years for the discount to apply.
Click here to learn more about Consumer United's deal with New Jersey's High Point.
Bad credit can hurt your chances of getting a decent mortgage or car loan, so we've decided to lay down the basics on getting and maintaining a top-notch credit score.
What is an ideal credit score? A good credit score is 750, that's 100 points higher than last year's positive credit score. If your credit score isn't this high, it's time to follow these four basic rules. And stick to them! You credit score will only grow.
Keep your balances below their limits
Always keep your balances below their limits. Experts call a "utilization ratio" where your balance doesn't exceed 25 percent of your available credit limit on your card. What do lenders want to see? They want to see that you have credit, but don't use it. This means you're a safe customer, and more lenders will be knocking on your door.
Don't pay your bills late
Whatever you do, pay your bills on time. Yes, this sounds extremely basic, but missing a bill by a day or two can be easier than you think. 35 percent of your entire credit score depends on paying your bill on time. Figure out the days when you get paid, and set up an automatic transfer to pay your credit card bills from your checking account online the day after your payday. This way, your credit card bill will be paid on time, and you will only see the money in your checking that you physically have to spend.
Don't have too many... or too few cards
Have no more than six credit cards, and no less than two. Having only one for emergencies can lower your score. Store cards shouldn't be included (and try not to use these!). The rating agencies rank them lower than a conventional credit card according to the Associated Press.
Open one account at a time
Open one new card at a time. Lenders know what you are up to if you're opening more than one account at a time. It's a credit score red flag. Also, make sure you have a home mortgage before you go on an Ethan Allen furniture shopping binge.
As the demand for electricity drops, so does the cost of consumers' energy bills. Energy consumption fell 1.6 percent in 2008, and 2.7 percent this year. The last time energy consumption fell two years in a row? 1949.
How has this happened? Americans are having a tough time finding jobs, so they keep their pockets full and spend less. Because of the ripple effect, retailers report declining sales ... 12 straight months to be exact. Manufacturers are making less products to sell. An Associated Press article reports, " Power consumption by the industrial and manufacturing companies that make everything from cars to cotton swabs has fallen faster than anywhere else- 10 percent this year by government estimates."
Who gets the shrunken electricity bill? It depends on where you live. Anywhere utilities are based on long term contracts and regulated markets will not benefit. Spot prices found in the Northeast, West, or Texas will see relief this season.
This break in electricity bills may not last forever. As the recession slowly recovers, the demand and cost of electricity will begin to rise once again. The cost of new plants and transmission lines to fix the aging U.S. power infrastructure will be a cost consumers and businesses will have to pay for.
Luckily, regardless of where you live, meteorologists predict a warm winter.
Will pre-recession consumer spending ever return? The answer seems to be "no."
Researchers suggest that frugality is the new norm. Even after the recession is over, consumers will be pinching their pennies for awhile.
The research firm AlixPartners conducted a study and reports Americans will spend at about 86 percent of their pre-recession level once a new normal is in place. This means consumers will turn into their own handymen, continue to bring a bagged lunch to work and re-set their priorities in order to keep the family budget on track.
Spending less will be good for family savings, however, less spending will not be good for the economy as a whole. Here's the problem: Every product bought at a discount store instead of a luxury store will mean less profit for retailers and manufacturers. This will cause a downward spiral. Less profit means leaner inventories, less product choices, less technology and more costs.
The same is true across the board. A kitchen not remodeled means lost sales of appliances and supplies and lost business for the worker or salesmen. As more consumers become their own handymen, electricians, designers, landscapers and plumbers are out of a job.
The new norm will be paying with cash, and using caution when making purchases. Sanda Schramm, 63, a second-grade school teacher from Florham Park, N.J., and her husband Rob, 64, are increasing frugal each day ever since the recession. The go out for dinner only once a month, always pay in cash since the recession hit, and shop for 75 percent mark downs in consignments instead of 40 percent off racks in Macy's. Their belts have tightened since the downturn, and they don't plan on loosening their belts anytime soon.
In a normal recession time heals the money lost, and consumer spending begins to grow one again, one purchase at a time. This time, the causes of the financial meltdown have left millions financially hurt, and severely questioning the current system in place. As an Associated Press article reports, "Personal spending has fallen in four of the last six quarters -- the only time that's happened since quarterly records were first compiled in 1947."
Consumer United, an online savings group that negotiates better deals on basic services, launched a new marketing channel here.
The Twitter account will publicize blog posts, savings tips, deals of the day as well as highlighted freebies available online until supplies run out.
We are constantly looking for ways to connect with consumers, and Twitter provides us with a tool to connect. As of February 2009, Twitter held 7,038,000 members. A 1382% growth from February of 2009. These numbers don't even take mobile Twitter use into account. Check out Contentinople's article on Twitter growth here.
Twitter is a real-time short messaging service that works over multiple networks and devices. Each message sent must be 140 characters or less... just enough to highlight our daily freebie and deals.
Philia Yiu is a member of our Consumer United team, and works full time as a Consumer United Advocate.
How does Yiu save money? "I save money by knowing how much money I have." And her financial motto? "Have no debt, save and invest!"
Yiu enjoys the people she works with. "Without them, I don't know what I'd do!" She also believes in her advocacy, and believes in better deals together. "Nobody wants to spend more, when you can pay less." Yiu's entire family is currently enrolled in Consumer United services, along with many of her friends.
In Yiu's free time, she hangs around with friends. On Saturday mornings, she volunteers at the Steppingstone Foundation where she tutors kids. Yiu enjoys sports, art galleries, live concerts, camping, swimming and eating.
Before Consumer United, Yiu graduated from Syracuse University in May 2008.
When it comes to your landline, You may want to ... cut it out.
In 2007, cellular phones accounted for 55% of all telephone expenses, where landlines only accounted for 43%, according to a recent report from the Bureau of Labor Statistics. And the younger the consumer, the more money is spent on cellular expenses. Children don't even think about forking over cash a landline. Not when one can easily talk for free on Skype, or be reached via cellphone with ease.
Landlines still trump cellular phones in terms of quality in some areas of the U.S. Features, such as speed dialing are better on landlines. However, cellular phones may soon be up to speed, leaving limited reasons for consumers not to go cellular.
In developing regions in China, India and Africa, the landline is being skipped over completely. Everyone who can afford line in India can afford a cellphone, because call plans are the lower than the norm. Low calling charges and cheap phones which is resulting in meteoric growth.
Forrester Research, a Cambridge based firm finds that saving money is the primary motivation for cutting the landline cord.
There are many services that optimize the savings. Skype offers a worldwide calling subscription from $9.95 a month. C-NET reports that T-Mobile is trying out an unlimited calling $50 a month plan, initially to customers in San Francisco. For family savings, AT&T offers add-a-line service for only $9.99 a month.
MetroPCS offers a very reasonable plan- at $40 a month, local, long distance, text messaging and voice mail are included. There is no limit on the amount of minutes that may be used per month. The disadvantage is that MetroPCS has very limited service, although over 300 cities have coverage.
Deal Of The Day:
Deal Of The Day:
Attention Garden State! Think you have no control over the cost of your auto insurance? Think again. Here are great ways New Jersey drivers can save big.
Deal Of The Day:
Deal Of The Day:
Deal Of The Day:
Bad credit can hurt your chances of getting a decent mortgage or car loan, so we've decided to lay down the basics on getting and maintaining a top-notch credit score.
As the demand for electricity drops, so does the cost of consumers' energy bills. Energy consumption fell 1.6 percent in 2008, and 2.7 percent this year. The last time energy consumption fell two years in a row? 1949.
Will pre-recession consumer spending ever return? The answer seems to be "no."
Deal Of The Day:
Deal Of The Day:
Deal Of The Day:
Deal Of The Day: 
Consumer United, an online savings group that negotiates better deals on basic services, launched a new marketing channel here.
Philia Yiu is a member of our Consumer United team, and works full time as a Consumer United Advocate.
When it comes to your landline, You may want to ... cut it out.
Verizon: Get free activation and your first month free when you order FIOS- TV online today
Glucerna: Special offer coupon- up to $5 off Glucerna cereal
