How to beat that traffic ticket

It has been a while since I got a traffic ticket, I have to admit that I did have a lot of fun with my 1999 Mustang GT, and it got me into some trouble with speeding tickets. Wish I had read this article back then.

If you've ever been ticketed for speeding or running a red light, you already know that the fine you pay may only be the beginning of your cost.

If it's your second offense, that mistake may very well drain a whopping $700 out of your pocket over the next three years. That's because, on average, a driver's insurance premiums can increase by 25 percent after a second violation.

Most traffic courts rely on the fact that nine out of 10 drivers will just pay their tickets and move on. Established to expedite cases quickly and efficiently, traffic courts serve as vital sources of revenue for many counties.

Read on at Bankrate.com

How to beat that traffic ticket

Are you underpaid? 5 ways to get more value out of your job

I get that feeling everyday at work… that everyone is making more money than me. Do you get that feeling? Well, there is something you can do about it. Payscale.com has a nice article giving advice on how to get more money for doing what you do for a living.

1. Do your homework. This includes researching the current market value for the position and carrying that knowledge with you into the talks. …


2. Know your needs and wants. "You have a range in mind of what you'd really like. Otherwise, if you are out in left field-you are never going to be successful. …


3. Learn a methodology for handling the questions, "What are you looking for?" and "What kind of salary do you want?" According to DeCarlo, the bottom line is, "I'm negotiable." If it's too soon to talk about money, she encourages applicants to change the discussion topic to job requirements or expectations. …


4. Know your options and ask, ask, ask. Be familiar with possible perks and benefits, and ways to increase your salary; brainstorming and making lists can be useful here. …


5. Always negotiate in person. "You can't read an expression, show a presentation, or have convincing reasons quite as well on the phone as you can when you engage them [employers] face-to-face…

How to Negotiate Salary: 5 Expert Tips

10 ways to guard against cybercriminals

Identity theft is probably the biggest fear in the world of personal finance these days. Criminals using your information to rack up thousands of dollars in credit card expenses. That’s a scary scary thought. (Shudder)

Bankrate.com has a list of 10 ways you can protect your information when you are online. Follow these, and you should be in a better shape to fend off any theft.

1. Regard all unsolicited calls, e-mails and instant messages as potential scams.
2. Don't follow links in suspicious e-mails.
3. Make sure you have Internet security software.
4. Run updates.
5. Scan your computer daily.
6. Block instant messages from anyone not on your buddy list.
7. Don't download software from a Web 2.0 site.
8. Scan files with your anti-virus software.
9. Don't rely on toolbars.
10. Two is not better than one.

Read more details on the 10 ways to guard against cybercriminals.

Most bills still getting paid on time.

CNN’s Money.com is reporting that even though Americans are missing payments on their home loans, they are still managing to pay their credit card bills on time, which means that the pressures of the housing market are not having as big as an effect as people might think.

NEW YORK (Reuters) -- Americans are missing more payments on home equity loans, but credit card delinquencies are holding steady, suggesting that housing pressures have yet to make it tougher for people in general to pay their bills.

In its quarterly study of U.S. consumer borrowing, the American Bankers Association said late payments on home equity loans rose to 1.92 percent from 1.79 percent in the third quarter, and were the highest since the first quarter of 2006. Late payments on some auto loans have hit a 5-1/2-year high.

The rate of credit card delinquencies edged down to 4.56 percent from the third quarter's 4.57 percent. That rate was the highest since the spring of 2005.

"We're certainly concerned to see the rise in home equity loan (delinquencies)," ABA Chief Economist James Chessen said in an interview. "The increase raises a caution flag, but the rate had been lower in 2006 than in the prior three years."

The ABA surveys more than 300 banks nationwide. It considers payments late if they are 30 or more days past due.

Read the full story after the jump

Most bills still getting paid on time.

Which mortgage is right for you?

Everyone has their own lifestyle and different priorities, based on what stage of life you are in. A lot of these factors go into making the decision on your choice of mortgage. Bankrate.com gives you 8 different situations and which mortgage goes with which.

1. Buying for the long haul: Loan to consider: 30-year fixed rate


2. Refinancing (15-20 years before retiring): Loan to consider: 15- or 20-year fixed or adjustable rate mortgage (ARM)


3. Recent graduate with strong potential for increased earnings: Loan to consider: One-year ARM


4. Self-employed: Loan to consider: No- or low-documentation loan


5. Planning to live in home 4 or 5 years: Loan to consider: A 5/25 hybrid loan


6. Job with good income, but not consistent month to month: Loan to consider: Option ARM


7. Job relocation for a short run (with good income and savings): Loan to consider: Interest-only mortgage


8. Active duty military or veteran: Loan to consider: VA loan

More on why these are the right choices after the jump.

Which mortgage is right for you? via Bankrate.com

6 Free Personal Finance Software Programs

Consumerist seems to be on a personal finance roll. They just listed a list of 6 free personal finance software programs that are worth checking out.

Free
Money Manager Ex (Windows and Linux)
MS Office templates (MS Office Suite or Open Office)
GnuCash (GNU/Linux, *BSD, Solaris and Mac OSX)
Pear Budget (all platforms)
Buddi (all)

Pay
Quicken ($30, PC)
MS Money ($49.99, PC)

6 Free Personal Finance Software Programs at Consumerist.com

9 Times Travel Insurance Isn't A Ripoff

Consumerist.com has a nice post about Travel insurance, which most of us never bother to invest in. They list 9 situations, as talked about on NBC’s Daily Show where it actually helps to have travel insurance.

1. Your flight is cancelled.
2. Your bags are lost and your medication is in it. You need to have an emergency prescription filled.
3. Your passport and wallet are stolen, and you need emergency cash and a replacement passport.
4. You're involved in an accident and adequate medical treatment is not available. You need medical evacuation.
5. You need to cancel your trip due to illness.
6. Your cruise line, airline or tour operator goes bankrupt. You need your non-refundable expenses covered and to get to your destination.
7. You have a medical emergency in a foreign country.
8. A terrorist incident occurs in the city where you're planning to visit and you want to cancel your trip.
9. A hurricane forces you to evacuate your resort, hotel or cruise.

9 Times Travel Insurance Isn't A Ripoff

Protect your 'valuables'

I had been meaning to do this for a long time, but I finally did it this past weekend. I bought a fireproof and waterproof safe. It was ironic too, because on The Simpsons last night, Marge is inspired to purchase a fireproof safe to protect the family’s most precious valuables, but an accident causes the safe itself to explode and destroy its contents.

When it comes to fire-related issues, the most important issue is personal safety, but other ‘valuables’ need to be protected from fire as well. These may include, but are not limited to birth and death certificates, diplomas, jewellery, and even items with sentimental value such as photographs, backup CDs or DVDs of family vacations.

After shopping around some sites and doing some research, I settled on the Sentry®Safe Water-resistant Fire-Safe® Security Safe, model # OA3810. It is a little bit bigger than I had initially intended, but I figure it will allow me to keep some of the valuables I listed in the sentimental category. A few of it’s safety features are as follows:

• ETL Verified for 2-hour fire protection of CDs, DVDs, USB Drives and Memory Sticks up to 1850°F


• Water-resistant


• UL Classified 2-hour proven fire protection with impact


• UL Classified 30 ft. Drop Test

This is definitely something everyone should invest in, to protect your valuables in the unfortunate event of a flood or fire.

Roth IRA rules

It is still not too late to get the tax savings associated with retirement accounts. As long as you open an IRA or a Roth IRA before the tax-filing deadline, you can claim that on this year’s return. If you are going for the Roth IRA option, there are certain rules to keep in mind before opening your account or contributing more money to it. Bankrate has the goods, once again.

Contribution limits
In general, Roth contributions are the same as traditional IRAs. Last year, you were able to contribute up to $4,000. The maximum annual contribution stays at that amount this year. …

Income
Speaking of income, you must earn money to open any IRA. That means your only income can't be from unearned sources, such as investments. You must get paid wages, a salary, tips, professional fees or bonuses. … But if you make too much money, you're not eligible to open a Roth or to contribute to the account you opened when you were earning less. …

Age
There is no age limit for Roth accounts. Whereas traditional IRA contributions are barred for individuals older than 70½, you can be any age and still contribute to a Roth IRA.

Roth IRA rules

10 new tax laws you need to know

Lawmakers were busy in 2006, so be sure to check out these tax code changes. They might save you some money, if you haven't filed your taxes already. Bankrate.com lists 10 new laws that might affect what you receive back from the IRS.

1. Telephone tax credit
   One of the most welcome tax changes comes not from Congress but from the Internal Revenue Service, which decided last year to stop collecting the 3 percent federal telephone excise tax. …


2. 
   
   Multiple direct deposit option
   If the phone rebate bumps up your refund amount, the IRS is making it easier for you to save instead of spend that money. You can now have your tax refund divided and directly deposited into up to three accounts. …


3. 
   
   Energy-saving home improvements
   If you replaced your home's drafty windows last year with new, energy-efficient panes, make sure you file the long Form 1040, along with Form 5695, to get the corresponding tax credit. That's just one way to take advantage of the energy-efficient home improvement provisions included in the energy bill that took effect Jan. 1, 2006. …


4. 
   
   Alternative fuel auto credit
   Did your environmental concerns extend to the road? Then you might be able to drive away with substantial tax savings. …


5. 
   
   Tougher donation rules
   Tax breaks for charitable gifts provide rewards for both donors and their favorite nonprofit groups. In 2006, however, lawmakers decided some taxpayers had been pushing the goodwill envelope a bit too far. So beginning on Aug. 18, any donated clothing or household goods must be in good or better condition. …


6. 
   
   Older philanthropist options
   Some charitable giving, however, got easier thanks to tax-law changes. Now if you're 70½ or older, you can transfer money directly from an IRA to a charitable organization.


7. 
   
   Kiddie tax tightened
   In order to save for their child's college costs, some parents open accounts in the child's name. …


8. 
   
   Foreign income adjustments
   U.S. workers with jobs abroad will likely find they're now paying a higher tax price for their globe-trotting careers because of changes to the foreign earned income exclusion rules. …


9. 
   
   Rolling over retirement money
   However, if you're planning to someday retire abroad instead of work there now, some law changes can help you build up your post-career nest egg. To encourage workers to take their company retirement plans when they leave a job, the new Pension Protection Act of 2006 will soon allow departing employees to transfer that money directly into a Roth IRA. …


10. 
    
    Old deductions are new again
    Three popular tax breaks technically died at the end of 2005: deductions for state sales taxes, educators' classroom expenses and college tuition and fees. They were resurrected at the very end of the 2006 congressional session and are back in force through 2007, just as they were previously. …

10 new tax laws you need to know at Bankrate.com