This past week has brought up a ton of awesome articles throughout the personal finance blogging ring on the web. Here’s a glance at what the buzz has been around The Money Bloggers network of blogs:

Ben, at Banker Saver, wrote a very informative article on maximizing your savings income by discussing the basics of building a CD ladder. If you’re not familiar with the concept of a CD ladder, be sure to check out this post and educate yourself in this. It’s well worth the read!

Johnathan, author of Debt Loans, shared a great descriptive of personal loans. The post covers  everything from the definition of an unsecure loan to the miscellaneous fees that you may face when paying off a loan. If you’re unsure of what you’re getting into going into applying for a loan, this post is for you.

At MilkingTheDollar Matt has compiled a wholesome list of 20 ways to make an extra $100 per month. Who can resist taking a peek at such an enticing concept? Honestly, if you’re well off enough to not want to think about earning an extra $2000 a month, my name is Bradley Jones, I accept checks, Paypal, debit or credit. I leave it up to you =)

Over at Wallet Wise you’ll find a great article on how stocking up can save you money. If you’re budgeting yourself and need to figure out how to cut back a bit on that nasty grocery bill that you just can’t avoid, make a smart click and check out what Wallet Wise can offer in advice.

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In case you don’t already know, ING Direct offers a $25 sign up bonus to new customers who are referred by existing customers. It’s quick and easy. All you have to do is sign up for an Orange Savings Account or Electric Orange checking account with a referral link and deposit at least $250. You will then be credited an additional $25 for opening your account!

Please Remember:

• You MUST use the referral link to get the $25 welcome bonus.
• The $25 bonus is only available for new Customers opening a new account as a primary owner.

That being said, here is a list of referral links that you can use to obtain your $25 bonus! Remember, though, each link is only valid for one account. If you click a link and it shows a message in red starting with “Sorry..”, the link has been used. If you sign up with a used link you will not receive the $25 bonus. I will update the list with new links as they are used up.

Orange Savings Account Links

1. ING Direct Orange Savings Account $25 Bonus
2. ING Direct Orange Savings Account $25 Bonus
3. ING Direct Orange Savings Account $25 Bonus
4. ING Direct Orange Savings Account $25 Bonus

Electric Orange Checking Account Links

1. ING Direct Electric Orange Checking Account $25 Bonus
2. ING Direct Electric Orange Checking Account $25 Bonus
3. ING Direct Electric Orange Checking Account $25 Bonus

Use any of these links to open an account (you must be a new ING Direct customer) to receive the $25 bonus! Enjoy!

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After being slapped with over $300 of overdraft fees last year due mainly to mistakes made by my bank (Wachovia), I decided that I needed to really research banks before jumping into accounts with them. So, I went out and collected information from a lot of the major banks such as BB&T, Bank of America, Wachovia, and so on. After going over the information that I had found on these banks I realized they pretty much offer the same exact services and fees. Not one stood out in the crowd.

So the next step I took was finding out more about credit unions. After looking at just two I found that the benefits of using credit unions instead of traditional banks were outstanding. I want to show you some of the main attributes that brought me to this conclusion.

Benefits of Credit Unions:

• Non-profit: Credit unions are non-profit. What does this mean? It means that there are no stockholders looking to make a quick buck on the money you take out for loans or put in for that matter.
• Lower Fees: Many traditional banks will charge you an arm and a leg in service fees and many fees that aren’t even clearly defined. Credit unions hold some of the lowest service fees and also much, much lower overdraft fees. ($14 in comparison to close to $40 from traditional banks)
• Lower Interest Rates on Loans: Credit unions are known for having better interest rates on loans than banks. They are typically leaders among giving great auto loans. The reason their rates are so much lower is being that they are non-profit they do not have to pay taxes on loans.
• Easy Account Creation: Credit unions boast easy account set ups and also very low minimum balances to open accounts.
• Customer Service: In comparison to banks, credit unions’ customer service is greatly better. They provide a more personal experience and offer help more than you would find at a bank.
• ATM Fees: Many credit unions have very low ATM fees. Some even have free use of ATMs. A few credit unions also reimburse fees accumulated throughout each month via ATMs.
• Higher Interest Savings Accounts: Credit unions make it easier for you to put your money to work for you by offering very competetive interest rates on savings accounts.
• Credit Unions are Insured: Just like traditional banks, credit unions are insured by the National Credit Union Administration and all deposits up to $250,000 are insured by the FDIC.
• Many Free Services: These can include ATM services, checking and savings accounts, personal finance guidance, investing guidance, and much more.

After reading up on and experiencing using a credit union myself, I highly doubt I will going back to using a traditional bank anytime soon. I highly recommend using a local credit union for your banking needs. The customer service is amazing, you don’t have to wait in long lines at the bank, and the fees are very nominal if they even exist.

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Its no surprise that with the failing economy and the fall of car manufacturers that the government would eventually step in and try to save its depleting areas, but the new C.A.R.S program is a bit questionable.

First of all, we’ve all seen the ads on T.V. and the headlines in the news talking about President Obama’s new plan to help put more enviroment friendly and more gas efficeint vehicles on the road. The ads also claim that you can get up to a $4,000 credit for your “clunker” to go towards the purchase of a newer, non-gas guzzling car.

Well if you head over to the official government site for the program, CARS.gov, you should take a minute and read the “Important Things to Know” section.

For those of you to lazy to click a link, here’s what this section states:

Important Things to Know

• Your vehicle must be less than 25 years old on the trade-in date
• Only purchase or lease of new vehicles qualify
• Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)
• Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in
• You don’t need a voucher, dealers will apply a credit at purchase
• Program runs through Nov 1, 2009 or when the funds are exhausted, whichever comes first.
• The vehicle that you are trading in is required to be destroyed. Therefore, the value you negotiate with the dealer for your trade in is not likely to exceed its scrap value. The law requires the dealer to disclose to you and estimate of the scrap value of your trade-in vehicle.

Check this site frequently for the most recent updates from the government.

Now let’s break this down.

First, your car has to be no older than 25 years. No problem. Not many people have vehicles dating from 1984 and beyond that they’re going to want to part with anyway.

Second, the credit you are given only applies if you are purchasing or leasing a NEW car. Ouch. This is not a great part of this plan simply because, at most, you’re getting $4,000 for your old car. That’s basically going to be your down payment on a car that is more than likely going to cost you $15,000 or more. And again, this is assuming you actually get the maximum credit possible. So for trading in your old car gets you a down payment on a new debt. How swell!

Moving on.

Third, for the most part your traded in vehicle has to get 18 miles to the gallon or less. Another bump in this system. If your older car is from 1999 or later, it probably gets 20 mpg or more (there are a few exceptions to this). So there goes 10 years worth of vehicles. Now that we’ve cleared that up we can pretty much assume that your car has to be at least 15 years old if you’re really expecting to qualify for the credit.

The fourth point is pretty straight forward and easy to comprehend. You don’t need a piece of paper to bring with you once you get your credit. It’s automatically applied at the dealership that you make your new car purchase.

The fifth point is also very clear. This rebate program will only last through November 1st, 2009 or until the money the government has alotted to is has been drained. Simple as that.

Finally we have point number six. Now if you haven’t got an idea of why this program sounds like a flop yet, this will probably persuade you a bit more. It states first that your trade in will be destroyed. Who cares. You’re getting rid of it for a reason, right? What you really want to read in this point is the line following.

“Therefore, the value you negotiate with the dealer for your trade in is not likely to exceed its scrap value.”

That’s a real bargain breaker there. They aren’t deciding your cars credit worth based upon the cars condition or if it can drive or even if it’s a good car. All they are going to give you is what your car is worth in metal. Nothing more. So all of those cars you bought brand new with all the bells and whistles don’t amount to much more than how much iron or steel they melt down into. Lovely, isn’t it? And more than likely your car isn’t going to make the cut to be worth $4,000. So don’t hold your breath.

Basically what this all comes down to is putting in debt to get manufacturers like GM and Ford out of debt. Only the government is trying to encourage you to make this decision by giving you what they call an incentive.

I guess if you’re looking to buy a brand new car and don’t have time or are unable to sell your older car, this might work out for you. Personally, I don’t see this being a deal by any means. Not to mention this whole ordeal is to try to make Americans drive “greener” cars, but is only requiring you to purchase one that gets 22 mpg at least. That’s only 4 mpg more than the cars they are accepting. So it really isn’t making that much of a difference.

This is an all out flop in my opinion. What do you guys think?

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Lately I’ve been reading more and more on personal finance. To be more specific I’ve been reading a lot about credit and credit cards.

Being only 21 years young I don’t have tons of experience with credit or related issues, but I have become very well informed on the subject for my age.

First off, I want to say that for those around my age (early to mid twenties) it is CRUCIAL to start building credit. When you get into your late twenties or early thrities you’re going to be wanting to start looking into getting a house of your own, being able to finance a car that doesn’t cost a fortune, or even get a loan. All of these things require credit. Unfortunately, in the current day economy, these things require an almost impeccable credit score to get a decent rate and sometimes to even be considered.

Credit cards, in my opinion, are a lose-win contract. And when I say “win”, it only applies to cards with rewards. Credit cards that offer rewards often reward you for paying on time and staying under your credit line. Rewards can be several things, most being frequent flyer miles, cashback, and some even offer a slight APR reduction for your purchases.

Just a little side note here: if you would like more information on credit card rewards or would like to compare cards to get an idea, head over to CreditCards.com for more.

These are all nice little bonuses for your effort, but if you take a look at the applications for such cards you will notice that you will have to already have a good or excellent credit standing to be approved for these cards. So, in other words, these aren’t cards for us 20 somethings looking for a start.

Personally, I don’t use credit cards at all. I don’t own even one. There are many other ways that you can build your credit that are more valuable than these plastic demons that devour our lives.

A few alternatives for building credit are:

• Paying Bills On Time - This applies to just about any bill. Rent, cable, cell phone service, internet service, utilities, insurance payments, all of these can contribute to a good credit score if maintained well.
• Keeping Bank Accounts in Order - This is something that is overlooked often. Making sure you steer clear of overdraft fees, keeping a positive balance, and staying with banks for extended periods of time also contributes to improving your FICO score.
• Co-Signed Loans - This is thought of as the fastest way to build credit. Although I highly recommend not taking a loan, because it does put you in debt, this can be an easy way to better your credit score.
• Store and Gas Cards - Many department stores and gas stations offer credit cards for their services and products. These cards don’t rack up good score points as much as normal credit cards do, but they are typically easier to get approved for.
• Secure Cards - In all reality these are prepaid credit cards. Your initial deposit onto the card is your “credit limit”. You do have to pay interest on these cards and its usually very high. There are also fees that apply to most of these. Most allow you to become “unsecure” after a year or two of good standings.

These are all pretty good ways to increase your FICO score and become more eligible for loans and financing after proving you’re trustworthy.

Keep in mind, though, this is not a quick and easy process. Building credit takes a long time. And unfortunately making mistakes like missing payments and having bills sent to collection agencies amounts to taking 3 steps back after taking 1 step forward. So, if you choose to make it a goal to bring up your score, you HAVE to stay on top of things. Otherwise it will end in financial disaster.

Now, in my opinion, those that are in their twenties, thirties, fourties, or whatever age group you fall in, shouldn’t put themselves on the road to demise by using credit cards or loans. I believe you should budget yourself and save your pennies for everything you want. This includes cars and houses. IT IS POSSIBLE. Start saving now.

Most of you already know that main key to financial success, and if you don’t, here it is, SPEND LESS THAN YOU EARN. It doesn’t get much simpler than that. Live it and you CAN obtain your goals and desires.

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