6 Steps To Credit Card Serenity

By Walecia Konrad

Source: www.Bankrate.com

We've become a nation dependent on plastic. Rent a car, buy a gift online, make airline reservations.

We think nothing of pulling out our credit card for these and hundreds of other transactions every year. That's not necessarily a bad thing. Credit cards can be a convenient and safe alternative to cash. But too often, before you know it, credit card purchases spiral out of control (to the tune of more than $8 trillion a year) with a simple swipe of the card.
Then, with high rates, fees, penalties, continued spending and the other pitfalls that can happen with credit cards, debt accumulates much faster than your ability to pay it down.
But that all too common and sad scenario doesn't have to happen to you. Whether you're carrying a balance of a couple hundred dollars or several thousand, take the following steps to get out of debt -- fast.

Know where you stand
When you're feeling overwhelmed by debt it's easy to let the bills pile up, unopened like so much junk mail. But, you can't control your credit cards if you don't have a handle on how much you owe, says Bill Driscoll, a financial planner in Plymouth, Mass. Sit down at the computer screen (or with pencil and paper) and make a list of exactly how much you owe and what rate of interest you're paying on each card. Then list your cards in order of highest rate to lowest.

Pay your highest rate cards first
These cards are the ones that are costing you the most over the long run so you need to make every effort to pay more than the minimum payment each month on these bills first. Find out the fastest and cheapest strategy to use to pay down your card balances.

Get a better deal
Call the toll-free number for your highest rate cards and ask the customer service representative if she can give you a better deal. Let her know that you've been getting offers in the mail for much lower rates and you've been tempted. At most credit card companies, reps are authorized to lower your rate rather than lose you as a customer, says Robert Manning, director of the Center for Consumer Financial Services at Rochester Institute of Technology. You'll be surprised how easily this works.

If you succeed, you'll soon notice your minimum payment is lower. Don't breathe easy yet, says Jean Chatzky, author of "Pay It Down, From Debt to Wealth on $10 a Day." Instead, continue paying the old amount and you'll see your balance shrink faster without any additional squeeze on your budget.

Consider using a different card
Hang on to all those zero percent and other low-interest credit card offers you've been getting in the mail. Done well, transferring your high interest balance to one of these cards can save you an enormous amount in interest and put you on a solid track to paying down debt. But these cards are filled with caveats that can end up costing you more in interest than you expected and sometimes more than if you had stayed put. Check the time limit for the low rate; where the low rate applies (balance or new purchases?) and the fee for transferring balances.

Beef up your credit score
If you're having trouble getting a no- or low-interest card, it's mostly likely because your credit score is too low. This number represents how responsible you are when it comes to handling debt. So if you have a history of late payments or are already maxed out on several cards, your credit score will suffer. To find out what your score is, use a FICO calculator to get a rough idea. It's free. Or, you can purchase your credit score from any of the credit reporting agencies or FICO. If it's below 660, you'll need to spend the next six months or so trying to improve that so you can qualify for a cheaper card. If you make all your payments on time over the next six months and aggressively pay down your biggest balances first, you could improve your score as much as 50 points, says Chatzky.

Avoid penalties and fees.
Interest rate hikes and hefty monthly fees can ruin even the best-laid pay-back plans.

• Late payment penalties. It's not unusual for your interest rate to jump to 25 percent or even 30 percent if you make a late payment. If you have trouble keeping track of your due dates, consider setting up an automatic payment from your checking account each month.
• Penalties for late payments on any card. Even if you pay on time, some credit card companies will hike your rate if they see you've made a late payment on another card. This practice, called universal default, is waning somewhat, thanks to pressure from consumer advocates, but it can still happen.
• Credit limit fees. If you go over your credit limit it's not unusual to get hit with a $40 fee. Do it a few months in a row, add the interest payment and you're talking real money.

2009 American Recovery and Reinvestment Act

A refundable first-time homebuyer tax credit of up to $8,000 is the centerpiece of housing incentives found in the 2009 American Recovery and Reinvestment Act.

The new credit is designed to boost sales in the nation's sagging housing market by offering a strong incentive to first-time homebuyers. Lawrence Yun, chief economist for the National Association of Realtors, predicts 300,000 home purchases will be made in 2009 as a result of the tax credit.

The new credit improves on a first-time homebuyer credit passed in 2008. That credit had to be paid back over a period of 15 years, making it more of a loan than a true credit.

The greatest part of this tax credit is that homebuyers can take the credit on their 2008 tax return even when they have purchased the home in 2009. Homebuyers can take advantage of this filing exception in one of three ways:

1. Closing on the home prior to April 15, 2009

2. Getting an extension to file taxes later in the year or

3. Filing an amended return.

Specifics are below:

• The Tax Credit is for up to 10 percent of the purchase price, up to a maximum of $8,000.
• For example, a buyer of a $150,000 home could receive a tax credit of a maximum of $8,000, while a first-time buyer of a $70,000 home would be eligible for a tax credit of $7,000.
• The Tax Credit does not have to be repaid unless the home is sold within three years.
• Applies only to first-time homebuyers, defined as those who have not owned a home within the previous three tax years.
• The Tax Credit is available only for homes purchased between Jan. 1, 2009, and Dec. 1, 2009.
• Restricted by income; The Tax Credit phases out for individuals with an adjusted gross income of $75,000 or above and for married couples with a combined adjusted gross income of $150,000 or above.
• The credit can be taken on 2008 taxes even when the purchase is made in 2009.
  

Caring For Your Deck

Wood decks can be a center of relaxation and comfort for their owners. A place where they can while away the afternoon or weekend in peace. A place where they can set up deck chairs or a table and sip drinks as the day lazily passes, or munch on barbecue fresh from the grill. In order to provide years of necessary comfort, wood decks require you do a little care and maintenance each year.

Check for damaged boards (once a year)The boards that make up the surface of your deck and steps are subject to all kinds of stress and usage. Over time, they will wear out or rot. If you don't check for and replace damaged boards each year, you could be setting yourself or your family up for an injury.

1. Examine the surface boards of your deck. Look for signs of stress, like excessive curling, cracking, rotting, or severed boards. Any you find will need to be replaced.

2. Measure the damaged board.

3. Purchase a replacement board. Your local lumberyard or hardware store (if they carry wood) should be able to help you. Pressure treated wood is preferable, otherwise you'll need to seal the wood yourself (which can be done before or after installation.

4. Remove the damaged board. If nails were used to secure the board, you will need a small nail puller or a hammer to pry the nails out. Use a small block of wood for leverage. The block of wood will protect the boards that don't need to be replaced. If screws were used to secure the damaged board, a screwdriver or drill (with screwdriver bit) should do the trick. Also, wear work gloves when lifting the board out to prevent splinters.

5. Cut the new board to fit. Make any adjustments necessary to the new board so it will fit in the space left by the damaged board. A handsaw or electric saw can help you cut the new board down to size.

6. Test fit the new board. Lay the board in its spot. Make sure it fits properly and that you like the way it looks.

7. Attach the board. First, drill guide holes for the nails or screws to make sure they will properly adhere to the support beams. Next, add the nails or screws. For decks, screws are recommended since they won't pop out when the wood expands and contracts with the changing weather conditions.

8. Apply water sealant to your deck to help protect it (if they wood wasn't pre-treated). Follow the directions that come with the sealant.

Check structural supports for signs of insect or animal damage (twice a year)The structural supports keep your deck up and in place. Underneath the surface of the deck, where the structural supports are located, is a perfect place for insects to flourish and animals to take up residence. Problem is, they can damage or destroy the supports, which can make your deck unusable.

1. Inspect your deck's structural supports. Visually inspect the area underneath your deck with the aid of a high-power flashlight. Look for any signs of animal or insect damage, like chewed supports, cobwebs, brittle wood, etc.

2. If you find any signs of insects or insect damage, schedule a visit from a pest-control expert. In fact, you may want to set up a regular schedule with him or her to prevent insects from ever becoming a problem.

3. If the damage appears to be animal related, consider adding lattice or some other barrier around the edges of your deck to keep critters out from under it.

Check for popped nails, loose screws, and bolts on decks (once a year)Nails, screws, and bolts hold your deck together. If they come loose or pop out (a consistent problem with nails), then the deck boards could come loose or the deck itself could partially collapse.

1. Inspect all the nails, screws, and bolts that hold your deck together. You will need to tighten any that are loose or that have popped out. Wearing work gloves is recommended.

2. Nails that have popped out need to be driven back in. Use a hammer and pound them back into place.

3. Screws that have worked their way out need to be twisted back in place. Use a screwdriver or drill (with screwdriver attachment) and tighten them. Be careful not to strip the screws. If you do, you will need to make a trip to your local hardware store and purchase a slightly larger screw as a replacement.

4. Bolts are the only one of the three that doesn't rely on the wood to hold it in place. Use a wrench or two (depending on how loose the bolt has become) to tighten the bolt.

Clean your deck (once a year)Dirt, grime, mildew, or mold can build up your deck over the course of the year. Not only can they diminish the look of your deck, they can also make it slippery and, in the case of mold and mildew, damage your deck.

1. Visually inspect your deck. Look for dirt, grime, mildew, and mold. Even if none are readily visible, you should still wash your deck.

2. Wash the deck. A power-sprayer is an easy way to remove the dirt and grime. However, for mold and mildew, or if you don't have a power-sprayer, use warm, soapy water and a scrub brush. Thoroughly scrub the surface of the deck. Make sure you remove all mold and mildew you find.

3. Rinse the deck. Use a water hose to wash away the soap and water along with any loosened dirt, grime, mold, or mildew.

Re-seal or re-stain your deck (once a year)Once of the biggest ravages your deck can face is moisture. In order to keep your deck in good shape for years to come, you need to re-seal or re-stain it each year.

1. If you haven't already, clean the surface of the deck. A power-washer is an easy way to do this. If not, you can also use a large scrub brush and soapy water.

2. Let the deck dry.

3. If the deck already has a finished or sealed surface, remove the finish or seal with a remover/stripper that you can purchase at your local hardware store. Follow the directions on the package.

4. Purchase new sealant or stain. Make sure any stain you choose is meant for the outdoors and can protect the wood from the elements.

For following steps, you should wear a dust mask or respirator to prevent the inhalation of particles and/or fumes.

5. Sand the deck. It must be smooth before you can refinish it. A medium grit sandpaper will probably work for most decks. Remove any sanding dust that may be left behind.

6. Apply the finish or sealant. If you're using a colored finish, make a test spot first to see if the color you chose is indeed the color you want. Using a foam brush, staining pad, or nylon/polyester brush, apply the stain or sealant with the grain of the wood. For colored finishes, work quickly and don't stop in the middle of the job for break. Doing so can cause the finish to dry uneven, leaving you with streaks.

7. Let the stain or sealant dry. This should take approximately two hours (depending on humidity and temperature).

8. Add a second and possibly third coat to enhance the protection of your deck.

Copyright © by Move, Inc.

New-Look Appliances

By Better Homes and Gardens

If an appliance is in good working shape but its color has been passe since 1975, why not treat it to a makeover? Here are two basic options.

RefinishingAppliance refinishing provides a crisp, painted look and can be done at a shop or right in your kitchen. An on-site refinisher sands the finish, removes or masks off hardware, and covers the floors and cabinets before painting. Look for a professional who uses an electrostatic refinishing system. This allows the paint to be charged and the metal appliance surface discharged -- attracting the paint spray directly to the metal.

An off-site refinisher, on the other hand, takes your appliance to a paint booth equipped with an exhaust system. This lets the refinisher use a standard polyurethane or epoxy paint.
A new painted finish will not be as durable as the original one, which was baked onto the appliance at the manufacturing plant. But it does provide a coating that looks almost as good as new. With stoves and ovens, the new finish (especially white) may eventually discolor, as its pigments aren't heat resistant.

Look in the yellow pages under "Appliance Refinishers" for a local source. Refinishing a standard-size refrigerator (including front, top, and sides) costs $250 and up.

New trimNew panel/trim kits completely mask the old finish. Panels come in dozens of colors and finishes, including real wood, stainless steel, and colored steel. The largest appliance-panel company, Frigo Design, makes custom panels and trim for all brands and models of refrigerators, freezers, dishwashers, and trash compactors built since 1942. You install the panels and trim yourself; new handles are provided should you decide to replace the old ones.

Panel kits are sold through major appliance dealers; or contact Frigo Design at 800-836-8746. Refrigerator kits, which include front panels and trim, cost about $350 for most colors, $450 for stainless steel, and $700 for real wood.

Ten Easy Projects to Renew Your Kitchen

By David Starr



Need a creative, quick save to rescue your faded kitchen but have limited time and not a lot of money? These are projects any do-it-yourselfer can accomplish on a barebones budget and still end up with a dynamite result. Some of these projects can even pull together a rented apartment kitchen without sending your landlord through the roof.


Get started in the morning and be finished in time for dinner guests!
1. Think Paint. The first and primary hint: Paint works miracles on everything. If it holds still, paint itneatly, inside and out. Don't think colors; think shine and texture. Old wood tone cabinets spray-painted very glossy white or hand painted with oil-base in creamy white provides yards of look for very little cash.


Then repaint the walls with latex satin enamel in soft sheen or no sheen. Use a color to contrast with your "new cabinets." Feeling adventurous? Paint pulls and hinges, too. If you have poor cabinetry, this technique can really pull it together.


2. New Pulls. When renovating cabinetry, new pulls add punch. In a small kitchen, put money into pulls and hardware. Expensive pulls can make the worst cabinets sing. Consider vintage pulls.



3. Remove. Less is more! Look at the cabinets and consider which doors could be removed to expose the shelving. Open shelving helps a kitchen look bigger. Display your favorite dishes, baskets and what-have-you for a new, updated look. Paint the inside of the cabinets the same as the outside or an opposite, bright color for snap and speed.


Fanciful new hardware is worth splurging on. New paint and pulls alone will revitalize a kitchen.4. Replace. Replace solid cupboard doors with glass fronts. The glass can be clear or frosted or you can get vintage doors and master them to fit. Showcase dishes, glassware, silver, anything displayable. You can also line the inside glass with sheer fabric. And if youve removed some doors to create open shelves, the glass fronts add to the look beautifully.


5. Lighting. Track lights brighten up any kitchen. Wire suspension lights can make the space look contemporary and new. Paper lanterns add life and freshness. All three types of lighting put light where you need it, create space or raise the ceiling. If you have a very small kitchen, make a box or rectangle of lights with extra small halogen bulbs.


6. Easy Tile. Have new countertops in a day. (Heres when it pays to have a small kitchen.) If the counter space is not expansive, go ahead and splurge on expensive tile. It will make the entire kitchen look luxurious. Or, with small counters, you may be able to buy vintage tile. Tiling a small countertop is simple. Dont be afraid of irregularities.


7. Quick Floors. Today there are countless self-stick tiles that can be added for a quick revamp. (Hint: Think contrasting black and white.) Floating wood floors and wood tiles can be done in an afternoon. Paint the floor a dark color such as black. To tie in the wall or cabinet color, use that paint to rag or faux finish over the darker color.


8. Flashy Faucets. Heres another feature to invest in. A flashy new faucet can make an old sink fade back. New faucets in white or chrome with pull-out sprays look great and, for the money, say "new kitchen."


9. Reflections. One of the best ways to add space without permanent alterations is to attach a glossy white-framed mirror to the wall at the end of a galley kitchen. It will add dimension and space. Place one above the refrigerator, hang one on a cabinet for drama or even set one on the floor.


10. Window Covering. A new window covering makes the window and the wall look fresh. A matchstick blind cut to size or a metal-tone mini blind add texture and light control. Small shutters loosely fitted into a window frame can be installed in an afternoon and are readily available in white or natural. Paint them, faux-paint them, stain them or leave them alone.


Copyright © by Move, Inc.