Which Energy Policy Will Help Your Bank Account?
June 19, 2008 by Erik Folgate
Filed under Consumer News, Energy
Okay, there are basically two different energy policies being proposed to help alleviate a possible energy crisis. Here is a synopsis of both:
Bush/McCain Proposal: They want to “drill here, and drill now”. Basically, they want to reverse a bill signed by Bill Clinton that took away the possibility of drilling for oil offshore of Florida and in Anwar, Alaska. They want to start drilling for oil in North America to take away the dependency on foreign oil, alleviate some of the high prices by increasing supply, and give companies and entrepreneurs a chance to continue development and research for alternative fuel resources.
How To Deal With Various Types of Debt Collectors
June 17, 2008 by Erik Folgate
Filed under Consumer News, Credit and Debt
Hopefully, you don’t have any credit accounts that are in default. But, some of you may have recently seen the light about changing your finances, and now you’re trying to clean up your past. Part of that cleaning up may involve dealing with bill collectors. Bill collectors have one of the worst jobs in the world. It is their job to collect money from people that don’t have any money. Collectors have made a very bad name for themselves in the past few decades, because they have been known for their harsh collection practices. In fact, their treatment of customers was so bad, that it spawned a federal act to be drafted called the Fair Debt Collection Practices Act. This act gave more rights to the consumer and restricted collection agencies from certain practices. It basically stopped collection agencies from acting like monsters and gave consumers a legal argument against the way bill collectors treated them. If you are not familiar with this act, please click on the link above and read about your rights as a consumer and the rules and regulations that collectors must follow in order to fairly collect the debt you owe.
FCC Will Hold A Hearing To Talk About Cell Phone Contract Fees
June 11, 2008 by Erik Folgate
Filed under Consumer News
Tomorrow, the FCC and Congress will look into the high fees that cell phone companies charge consumers for canceling their contract early. We are all well aware of the exorbitant fees that cell phone carries charge for opting out of a contract early. Plan contracts have been a staple for cell phone companies since the dawn of the cell phone industry. It’s a way for cell phone companies to retain customers through leverage and incentives if a customer is loyal to the carrier.
The Month of May Was Favorable to Discount Retailers
June 5, 2008 by Erik Folgate
Filed under Consumer News, Credit and Debt, Economy
Retailers Such as Costco and Wal-Mart posted higher than expected earnings for the month of May. All of the major media outlets are referring to this as a result of the first wave of economic stimulus payments rolling out in May. But, take notice at what types of stores did well. It was discount retailers that did well, not mall retailers. The article I referenced to on Yahoo Finance indicated that the Gap and American Eagle had worse earnings than expected due to the stimulus payments.
Consumer Beware of Professional Service Providers
June 4, 2008 by Erik Folgate
Filed under Consumer News, Scam Alert, Spending and Saving
We all know about used car salesmen, auto mechanics, plumbers, and contractors that try to pull a fast one on us by selling us products and services that we may not need. Every time i bring my car in for service, there’s something new that’s “allegedly” wrong with it. In my day job, I deal with plumbers and restoration contractors all day long. Some are very honest and others will milk you for everything they can get away with. It’s pretty well-known that you should be cautious when dealing with these people. However, it’s not as well-known to be cautious when going to see your doctor, dentist, veterinarian, or any other professional with letters after their name. We as responsible consumers, need to be more careful wtih the professionals that we see, because your best interest may not always be on their mind.
Florida Government Cuts Tax Holiday For Hurricane Supplies
May 29, 2008 by Erik Folgate
Filed under Consumer News, Taxes
Just four years ago, Florida was ravaged with four major hurricanes in the span of 10 weeks. Then, in 2005, two more major hurricanes hit Florida, making it one of the worst consecutive hurricane seasons in U.S. history. Yet, for some reason, Florida’s government has forgotten about those years. June 1st marks the first official day of hurricane season and for Florida residents, it’s not a date they like to mark on their calendar. Florida’s state government decided this week that they would do away with the tax holiday that typically begins on June 1st for hurricane related supplies such as batteries, generators, lanterns, and first aid kits. Given the lull in the economy lately, they felt that this was one of the areas where they could save money by taking away this tax break from Florida’s residents. It will supposedly save the state up to $12 million dollars in tax revenue.
This is just another example of a government penalizing the taxpayers, rather than owning up to the real problem. Yes, there is a slow down in many of the economies around the country. I am sure that Florida has seen better days, because tourism is a big part of this state, and less people have the disposable income to travel down here for vacation. But, the wasteful spending that goes on in the state and federal level is ridiculous. If Florida’s government wanted to save money, they should have taken away all of the ear marks and pork barrel spending that passes through its legislature every year. Cut out some of the fringe benefits of the government officials or cut out some of the civil programs that aren’t in dire need of being completed. Why would you take away $12 million dollars from us, when you could have tightened up your own spending?
Back From Memorial Day Weekend
May 27, 2008 by Erik Folgate
Filed under Consumer News, Random
I just wanted to let you all know that I took an extended memorial weekend vacation, so that is the reason for the lack of posting the past few days. It wasn’t really a vacation, because I got very little sleep. My best friends from childhood all met up in North Carolina where one of our friends has a big house. It was great to have some “guy time”, but that always ends up translating into staying up late, doing a lot of physical activities, and drinking way too much.
The Answer To My Incorrect Stimulus Payment
May 13, 2008 by Erik Folgate
Filed under Consumer News, Economy
I wrote on Friday that I received the stimulus payment on the scheduled date that I was supposed to receive it. I received a letter in the mail today from the IRS that explained the payment that I was entitled to, and it explained why I received the $600.00 instead of the $1,200.00.
Here is the excerpt straight from their letter:
Filing Status
Based on your filing status, the amount of the stimulus payment is $1,200 or your 2007 net income tax liability, whichever is less. Net income tax liability is your tax before credits, including the alternative minimum tax, less all non-refundable credits other than the allowable child tax credit.
I Received The Incorrect Amount For My Stimulus Payment
May 9, 2008 by Erik Folgate
Filed under Consumer News, Taxes
My last two social security digits are 53. So, according to the payment schedule, I was supposed to receive the stimulus payment this morning. Although, with all of the comments on this site from people who didn’t receive it last Friday, I was not counting on anything. So, I logged into my checking account this morning, and to my surprise, there was a direct deposit from the U.S department of the Treasury. I thought, “wow, I was one of the lucky ones to get my payment as advertised.”
Five Reasons Why You Haven’t Received Your Economic Stimulus Payment
May 9, 2008 by Erik Folgate
Filed under Consumer News, Economy
There are quite a few people that are angry and frustrated over the first week of economic stimulus payments rolling out as portrayed by the comments on this post. The payment schedule that the IRS printed is obviously not being followed. People with their last two digits in the 50’s, 60’s and 70’s, are getting their payment before people in the 00’s, 10’s, and 20’s. I’m not going to sit here and act like I know why it’s all screwed up, but here are a few ideas for why you may not have received your payment yet.
