Reports

May 2006

Whether you are traveling for pleasure or business, making travel arrangements that fit your comfort criteria and your budget is every traveler's goal. The many online services make achieving those goals easier than they've ever been, if you learn the ropes. As a dedicated traveler, I share some tips and insights I've learned in covering hundreds of thousands of miles.

Be clear about your travel requirements.

Before you even begin to shop for a vacation destination, airline tickets and a hotel, ask yourself what criteria are most important to you?

April 2006

How much Americans save—or don't save—has been in the news since the U.S. Department of Commerce reported that the U.S. personal savings rate in 2005 was a negative 0.5%. Debate has boomed about whether the savings picture is actually so bleak because the calculation doesn't take into account any capital gains from investments or increases in home equity that citizens may have. The calculation only looks at personal income and spending to determine the savings rate. But even if the savings picture is rosier, common sense says that as a nation of consumers we are probably not putting enough away for a rainy day or a dire emergency. And of course, there's the question of saving toward something important such as a down payment for a home or a fund for higher education or retirement.

March 2006

The convenience of going wireless with your notebook computer is so tempting. Wireless computer connections free you up to work over the Internet all around the house or office or from the local coffeeshop. Many consumers are putting wireless networks in their homes. Wi-Fi hotspots are appearing in many public locations such as cafes, libraries, churches, and airports. You can go online anywhere, it seems. But unless you take the proper security precautions in using Wi-Fi hotspots and in setting up your own wireless network, you are putting your financial and personal information at risk. In this month's report we look at the dangers and the precautions you can take.

February 2006

CCU members are very savvy about online banking. Many CCU members take advantage of CCU's Home Banking to manage many aspects of their credit union accounts online. That's terrific.

If you regularly read Remar's Reports, you know that I'm a big fan of managing your personal financial business online. Having online access to all your financial accounts (beyond your checking account) can offer increased convenience, efficiency, and, above all, security. Using e-statements, instead of paper statements, can also offer benefits. Of course, as the "end-use" consumer, you must follow good security practices, just like CCU and other reputable financial institutions do. This review profiles some of the potential benefits of managing most of your financial business online, including using e-statements, and provides tips for doing it safely.

January 2006

With the big spike in gas prices in the autumn and higher winter heating costs predicted for the rest of this winter, consumers everywhere are looking for ways to save on energy costs. In past reviews, I've offered you tips for saving on fuel costs. Now thanks to some old and new tax incentives, you may also be able to benefit from specific tax deductions or credits for purchasing "clean-fuel" vehicles or taking certain energy conservation measures at home.

December 2005

The good news first: This is one scam you can easily avoid. Period.

Now, the bad news: If you receive email—at work or at home—you could as easily fall for this scam today. Fall for it and you could lose thousands of dollars, your identity, and probably your sanity by the time you recover from the scam.

I'm talking about "phishing," a plague that is now hitting almost everyone who goes online at least once a week—and getting worse by the hour, literally.

Phishing gets its name from legitimate fishing with a hook, line, and sinker: you cast your line into the water and wait on an unsuspecting fish to bite. The same thing happens in Phishing, except you're the fish. A crook casts out some bait over the Internet and just waits for unsuspecting victims like you to take the bait.

November 2005

With recent high and volatile gasoline prices, do you have to resuscitate your wallet every time you leave the gas pump? You are not alone. All around the country, drivers of gas sippers and gas guzzlers alike (yes, even hybrid drivers) are looking for ways to save on fuel. Finding the cheapest gas in your area is a start, but there are lots of other ways you can increase fuel efficiency and cut down on the amount of gas you have to buy. This review rounds up tips on how you can beat the gas pump blues.

September/October 2005

Because your credit history can affect so many aspects of your life—from your ability to get a mortgage or auto loan to the rates you're charged for insurance or whether an employer will hire you or landlord will rent you an apartment—wise consumers keep a close watch on the accuracy of their credit reports. Regular review of your credit report is also one of the best ways to spot certain attempts at identity theft.

In August's Remar's StraightTalk Report, we looked at the importance of your credit report and the pros and cons of using a credit monitoring service. But whether you monitor your credit report yourself or subscribe to a credit monitoring service that alerts you about changes or suspicious activity, you must still know how to read your credit report, interpret the information in it, and take steps to correct errors. Only you can do these things. This report shows you how.

August 2005

An increase in Identity Theft, coupled with an explosion of online "phishing" scams targeting personal information, has many consumers eager to take steps to protect their personal information and credit. Although you can learn how to recognize and avoid phishing scams and take other steps to guard your personal information, reviewing your credit report regularly for errors and unauthorized or suspicious activity is one of the best ways to detect ID thieves if they strike you in spite of your efforts.

Increased public awareness of the importance of regularly reviewing personal credit reports has produced an explosion of credit monitoring services. Subscription offers pop-up on computer screens and arrive by email, snail mail and phone daily. Would one of the reputable services be useful and worth the subscription price? Or can you do it yourself more easily, effectively, and economically? The answer can be yes, no, or maybe depending on your individual circumstances and needs. To help you make the decision, this report looks at the basics of credit report monitoring, the potential benefits and limitations of services, and tips for making the choice that's right for you.

July 2005

Interest-only mortgages have become as hot as the booming housing market in some areas of the country. In the U.S. in 2001 interest-only mortgages made up 1.6% of residential mortgages; that figure ballooned to 31% of residential mortgages in 2004, according to a May report in Fortune Magazine. Maybe you've seen ads for interest-only mortgages? If you've been shopping for a new home, maybe an agent or developer has mentioned the possibility.

The popularity of interest-only mortgages has been rising steadily particularly in hot housing markets where home prices have been soaring. This type of mortgage isn't new—it's been around at least since the 1920s—but its availability to a wide range of buyers and its combination with adjustable-rate mortgages (ARMs) are recent developments. Boosters of interest-only mortgages tout their ability to offer more home for a lower payment (at least for the first few years). Most personal finance experts warn that interest-only mortgages come with very real dangers and aren't appropriate for most homebuyers. This report provides a brief overview of interest-only mortgages and profiles the potential pitfalls and pluses.