Consumer Reports the Ultimate Money Guide 2007

8/3/2019 Consumer Reports the Ultimate Money Guide 2007

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FROM THE EDITORS OF CONSUMER REP


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EXPERT INDEPENDENT NON


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,bite, most overlooked estate document,your will, when to consider a tru st, pamoving out of state, and more .


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. Note the date.If shipping is free, see when your package is e

In some cases,your purchase may not wind ufor weeks.2 CONSUMER REPORTS


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Before you purchase a product online, see if spare available to use at the e-tailer's site. Find suretailer or brand name plus the word "couponssuch as Google. Or visit these sites:


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APRILBridal gowns Exterior paint/stains Fit Vacuum cleaners

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I I Pay much less for college tuitiYour child doesn 't have to be class valedictorianto win merit-scholarship money from colleges.child for merit money:


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Term life insurance rates have been droppingnational average life expectancy rate has climon life insurance premiums:

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it makes you feel good, you may have a problecompulsive shopping: Pay in cash.

Try your best to avoid adding to your credit

www


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or a a s e e . rugs ore.com can savefor bulk orders compared to buying at youThe Food and Drug Administration recomonly from Verified Internet Pharmacy Prac

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Ask your vet for generics, and have the prescriptstores like KV Vet Supply, Rite Aid and Costco.as www.DrsFosterSmith.com,www. 1800PetMeds.www.PetCareRx.com may provide pet drugs for l


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CHECK THE SALES.A growing number of sites now offer couponshipping and discounts. These include: www.www.mywinesdirect.com, www.wineenthusiast.

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by keeping a careful list. Inflat e t ires.Check your tires' air pressure and weaif they are low and replace them if woforce your car to use more gas.


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12 CONSUMERREPORTS


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660-699 6.366%620-659 7. 176%580-619 8.820%500-579 9.679%

Source :my(ico.com (06/07)

go o www. c.govan .un er e .. onsu


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on the "File a Complaint" tab).4. Repair and recalculate.

If a lender, insurer or other party based ierror-filled report, the credit bureau is re

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.


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Watch your inquiries.Each time you apply for a loan, the lewhich generates what credit bureaus

before making a choice:


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Check the terms.Before you sign up for a card, see ho

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If your teen is financially responsible, set up acard and avoid the monthly fees of prepaid cstarting college, sett ing up a prepaid card ma

cons er oo ng at t e ssoc at on o n epen


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Counseling Agencies (www.aiccca.org) or the NCredit Counseling (www.nfcc.org), whose memuphold specific standards.

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If your adult child or another relative a


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to pay a big bill, buy a house or start ahelp, make the loan official to avoid tax

. .


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The figure to focus on when borrowinpercentage rate (APR), which can varyget a quick read on the prevailing rates20 CONSUMER REPORTS

n n eres - ree or u ra- ow ra e oan m g e o


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your credit score qualifies and the se promotions a Extend the loan term.Going long on your loan term can work if you ca

any other way. However, resist the urge to go out48 months. www.


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pay period will cause the equity in yrate and you may finish paying off t

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4. Refuse to pay to prepay.


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Don't let your bank or any other lender sellplan where you pay extra for the privilege of

maximum contribution level, contribution of p


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and possible employer match, which is free monfund may make retirement saving easier while aRoth 401(k) may be more appropriate for you.representative to defin e the differences.

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Common sense plays a big role in financicases, you may be able to take on financiasave a fortune in fees:

. . . .2. www.etrade.com 5. www


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3. www.tradeking.com

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Ste p 2: Identify no -load fund s with the lowes


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no-loads generally are less expensive to ownmanagement fees that eat deeper into retur

One of the most important times in life to brment portfolio is when you're nearing retire


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Size up spending.Years before you retire, determine what you

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Your adult children may come to you fopay down debt, and cover education and


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rearing costs. You may have to learn to sto say 'yes:

MISTAKE: Owning dud annuities.


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Be cautious about buying a deferred ancosts, they have surrender charges if yo

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to invest. When people hear that their fr


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fellow church members have invested, t GOING FAST.Making an investment opportunity see

.investment advisers and brokers rather than d


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manager or a state's designated vendor are atthrough middlemen could leave you with few

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- Industry Pre-Screening Opt-O ut Numbe


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Shred and destroy.Before th rowing out files with your Socialinformation, address, and birth dates, becross-cut shredder. Use hard-drive erasin34 CONS UMER REPORTS

If after reviewing your credit reports you suspec


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identity fraud , take the following steps: Re po rt the crime.

How to make sure you have enough insurfrom the financial crunch of a long-term


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Start at work. See what disability co Cover the shortfall. Consider buyi

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resor , ca your s a e nsurance eparinsurer to pay.


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mHow to pay less for auto iMany drivers stick with the same auto-ins

in turn will report th e damage to the s SELF-DEFENSE: Before you buy,


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policy. When goods arr ive, check theContact the company if there's a pro

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Call the cops.Your liability for unauthor ized purchases ma


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can't exceed $50 und er federal law. But if youstolen before it's used, your liability is zero.

Call the cards.

If you ave ea t insurance, you pro a y ainsurer increasingly isn't picking up its maxi


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charges once your deductible has been met. Tbased on "usual, customary and reason able" (

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Understand how much your deductibFor example, a preventive checkup m


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haven't met your deductible, but a sudoctor prescribes during that visit micover a visit but not a procedure perf

are "medically needy." To enroll in Myour state department of social servic


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If a me ical ill seems unfairly igcover it, consider consulting a billin


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hourly or base their fee on the amoassessment of the problem at the oupotential savings to proceed.

operates on fuels other than gas or diesel, (electriclonger eligible). For alternative fuel vehicles, credits


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$4,000 for a car weighing up to 8,500 pounds. For atwo credits are available-up to $8,000 for vehiclespounds and a fuel-economy credit of up to $4,000.44 CONSUMER REPORTS

the AMT.


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ED Is your favorite charity oBefore writing a check to a charity, be su

cou w n up spen ng a or une ry ngthem to have. Estate-planning essentials:


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W ill.This document states who you want t

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claim you were incompetent when the will wED Relocating? Check your esta


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If you plan to move to a different state, be sure


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Documents

Consumer Reports the Ultimate Money Guide 2007