The Power Players in the Financial Crisis

A total of fifteen banks have closed across the country this year not including other financial institutions such as AIG, Merrill Lynch and others. Americans are frantic about the safety of their money in banks and investment accounts. Many Americans have closed their bank accounts due to the current financial crisis and bank failures.

Luckily for the rest of the country all Americans have not taken their money out of the banks because the entire banking system would fail. In life there are always ups and downs. Right now individuals and the country are experiencing a huge down. Several people, companies and other entities had a role in the current financial crisis the country is experiencing. No one person or entity is to blame; however several entities can be identified as contributing or having a role in the current financial crisis. The following is a list of the power players in the current financial crisis.

1. AIG – bailed out by the Federal Government who will get an 80% stake in the company
2. Bank of America – bought Merrill Lynch in September 2008 and purchased Countrywide
3. Bear Sterns – bought by JP Morgan
4. Citigroup – tried to buy Wachovia
5. Countrywide – bought by Bank of America
6. Fannie Mae – taken over by the government
7. Freddie Mac - taken over by the government
8. Federal Reserve – passed 700 billion dollar bailout plan to boost the economy
9. Goldman Sachs – now regulated by the Federal Reserve and is able to access the it's emergency loan program
10. IndyMac – seized by the FDIC in July 2008
11. Lehman Brothers – filed for bankruptcy in 2008
12. Merrill Lynch – bought by Bank of America
13. Morgan Stanley – Federal Reserve allowed the bank to change its status to allow it to provide commercial banking products and services
14. Wachovia – purchased by Wells Fargo
15. Wells Fargo – bought Wachovia after Citigroup announced it would buy Wachovia's banking business

To ensure you make it through the current financial crisis which will probably continue until the end of 2009 or early 2010 - follow these 3 tips:

1. Keep your money in the bank. It not the timing of the market, it's the time in the market. Although you may have lost money in your savings or investment account, if you wait it out, you will gain back the money lost, however, it will take time. You can consult a financial advisor to see what options are available to you to protect your remaining money from additional losses.

2. Don't make decisions based on emotions. Don't make any drastic changes based on the recent news story, an article in the newspaper or something you heard someone say. Write down your concerns and do research, try to find and talk to others who have been through financial crises such as the Depression or a war. Wait a few days and develop some if-then scenarios and develop a plan to deal with those situations. Talk to a financial counselor or advisor about your concerns and options on how to implement your plan.

3. Change your spending habits. Now is the time to make changes in your spending habits. Find small ways to cut back on spending and reduce expenses. Start saving or save more than usual to create an emergency fund to cover bills for at least 3 to 6 months which will help when unexpected situations or expenses arise.

Financial Predictions

Here is a list of my predictions for 2008 and 2009. These are just for fun. Let's see if any of them come true.

2008/2009 Predictions

1. Gas prices will fail below $2.50 by election day and rise again after the election
2. Housing prices will continue to fall through the middle of 2009
3. The Federal Reserve will reduce interest rates at least once more by the end of the year
4. Americans will continue to fight back and express their concerns about high gas prices, health care, and the war in Iraq
5. In the coming weeks more Americans will voice their support for one candidate or the other
6. More laws will be passed in favor of same sex couples
7. The war in Iraq will continue until 2010
8. Brittany Spears will get married again
9. The number of jobless claims will continue to rise through the end of 2008
10. Mortgage companies and other financial institutions will begin to place calls requesting a payment from customers in good standing who usually make payments on time but make a payment after the due date
11. Halloween, Black Friday and Christmas sales will be less than expected
12. Many small business will file bankruptcy or go out of business by the end of 2008
13. More scandals and fraud cases will be exposed to Americans by the end of 2009
14. The current financial crisis will end in 2010

America's Woes Spread to Other Countries

The current financial crisis began in the United States when lax lending standards on certain home mortgages came were allowed. Foreclosure rates began increasing as of 2000 and financial companies began reporting huge losses.

Many other parts of the world funded America’s consumer spending boom by lending America money. Many banks and investment funds outside America are holding large amounts of American debt paper and are now very upset and unhappy with bank and financial institution assets that no longer have any value.

Leaders of the world's top countries, the Group of Eight, are scheduling a meeting to meet in the near future to discuss solutions for the financial crisis. The Group of Eight consists of the United States, Japan, Germany, France, Britain, Italy, Canada and Russia.

European financial and political leaders agreed to pump billions of euros into their banks to help with declining economy. To deal with their failing economy Iceland's central bank dropped interest rates by 3.5 percentage points. Greece has pledged up to 28 billion euros or $38.5 billion to help its banks through the current financial crisis. Germany is proposing a plan to provide 400 billion euros or $536.7 billion to their banks.

How the Bailout Affects Your Credit

Due to the failure of many banks and financial institutions, lenders and other companies that extend credit to consumers are implementing stricter requirements for approval. Many people who received benefits of having a 700 credit score will now feel the affects of the new bailout plan.

The bailout plan will affect approval for credit cards and loans. This will also affect consumers in their personal and business life. Many small businesses that rely on business credit to purchase business equipment and supplies will also be greatly affected when trying to get approval for credit.

A year ago, a consumer could be approved with a credit score of 700 for any type of loan or credit card with a good interest rate. One year later things have changed.

According to a Yahoo article consumers will now have to have a higher credit score to get approved for a loan or credit card and to get good interest rates. For credit cards you need a 720-750. According to CNW, it will be even harder to get approved for an auto loan; you will need the minimum credit score of 786 to get the very best rate.

To get approved for a mortgage you will need a credit score of 740 to get the best rate. Previously you could get approved for a credit score of 700.

If you have bad credit follow these 5 tips to increase your credit score:

1. Get current on late bills
2. Setup payment plans with your creditors
3. Keep credit card balances at 30% or below the credit limit
4. Don't open a new account more than once every 2 years
5. Don't use credit cards for everyday purchases

It may be difficult to change your spending habits but you will be in a better position to ensure you get approved for credit when needed and this advice will help you maintain a good credit score.

How the 700 Billion Dollar Bailout Affects You

A credit freeze is currently in place because of the current economic crisis. President Bush signed a 451 page bill to implement a 700 billion dollar plan buy bad mortgages and other low valued assets currently held by distressed financial institutions which would allow them lend credit again to businesses and consumers.

The bill will also temporarily expands federal insurance for bank and credit union deposits of up to $250,000 which will help small businesses and many Americans including those will retirement accounts and 401Ks.

The bill will also allow mortgage lenders and banks to restructure home loans, reduce mortgage interest rates or change mortgage loan terms. However, with the bailout, it may be harder to get approved for credit or a loan because banks and financial institutions will no longer be willing to work with customers with bad credit because they don't want to take any more risks.

Approvals will require higher credit scores and possibly larger down payments. Credit card limits may be reduced or credit card accounts may be closed if accounts are maxed out or delinquent. Many small businesses that use credit to make purchases will also be affected which may reduce their revenue or possibly force some businesses to close.

Since this is an election year remind your congressmen of the issues that affect you the most and make your voice heard.

Tips for AIG Customers

AIG got a loan from the FDIC for 85 billion dollars because they lost money due to the sub-prime market. AIG is the parent company of many insurance holders.

If AIG has to file for bankruptcy they would pay off as many policyholder claims as they can. For the remaining unpaid claims they would be paid by the state because the state has guaranteed the policies.

If you have property or auto insurance, the state will also cover these, but usually have a cap. The level of coverage may vary by state, but every state association provides withdrawal and cash-value coverage for annuities of at least $100,000. Life-insurance policies are backed up with at least $300,000 in life insurance death benefits and $100,000 in cash surrender or withdrawal value. States offer at least $100,000 in health insurance policy benefits.

Every state including the District of Columbia, Puerto Rico and the Virgin Islands have established guarantee funds to protect homeowner's or car-insurance policies. Most state guarantee funds to pay all of their state's workers' compensation benefits.

Don't take money out of your AIG account. Your AIG insurance and annuity policies are safe because they are still insured. The Insurance Commissioner’s Office will continue to closely monitor the status of AIG to ensure that policyholders are protected and that assets remain to pay claims. If you do decide to cash in your policies check to see if your policy contains a surrender charge or cancellation penalty. Continue to pay your insurance premium bills for you AIG coverage. If decide not pay your policy may be canceled.

If you are unable to contact an AIG representative you can call the Insurance Consumer Hotline at 1-800-562-6900.

Be aware of scams. If someone tells you to replace your AIG policy because "may not be able to pay your claim" this is a scam. Call the Insurance Consumer Hotline at 1-800-562-6900 to report the incident.

To see if your insurer is owned by AIG, visit the state Insurance Commissioner's Web site at insurance.wa.gov and click on latest news or call 800-562-6900.

Advice for Wamu Customers

Here are answers to some of your questions regarding your WaMu accounts.


1. All Wasington Mutual and Henderson, NV accounts have been transferred to JPMorgan Chase Bank. No money was lost in any account during the transfer.

2. If you had a loan with Washington Mutual your loan has been transferred to JPMorgan Chase Bank. Continue to send payments to the same address and make checks payable to Washington Mutual Bank. Your payment due dates, balances and interest rates still remain the same.

3. Your debit and ATM cards will still work. Your direct deposits, automatic deductions and automatic bill paying will still work.

4. Any outstanding checks will clear with no problem. You can still write checks on any checks that you have.

5. If you have a loan that is currently being processed or line is credit that has not been approved yet contact your loan officer or processing agent for more information.

6. If you account balance is over $100,000 is will still be insured for up to 6 months after the merger. After that time you will need to move your money around to other accounts so the balance is below $100,000.

7. Contact your financial advisor regarding any Washington Mutual stock that you own.

Wachoiva : Another Bank Failure and How it Affects You

Wachovia was seized by the government and on September 29, 2008, and was bought by Citigroup. Wachovia has 3,300 retail offices in 21 states with 40 international offices. Citigroup will pay Wachovia $2.1 billion to pay for its subordinated debt (a debt obligation whose holder is placed in precedence below secured and general creditors) which basically means the debts bought by Citigroup will be paid after Wachovia's secured debt and debt owed to their creditors is paid. It will also assume $53 billion of Wachovia senior and subordinated debt. The buy will make Citigroup the largest bank in the US. The buy should be complete by the end of 2008.

Wachovia states that "Customers of both companies should continue banking as usual, and feel confident that their deposits are secure. Also, employees and vendors should continue to operate business as usual."

To down play the severity of the buy of Wachovia by Citigroup they use terms that the average consumer may not understand. When you visit the Wachovia website a blurb states "Wachovia announces bank subsidiary divestitures to Citigroup."

What does this mean? I am a customer of Wachovia and it saddens me that messages like this appear. Press releases and other messages should be explained in a manner so that all customers of Wachovia understand exactly what the buy by Citigroup means to them.
Divestitures are the sales of business holdings of a company. Citigroup purchased the retail bank, corporate and investment bank and wealth management businesses (divestitures) of Wachovia.

Wachovia investors will receive approximately $1 of Citigroup stock for each of their Wachovia shares of stock. For now, it appears that it is business as usual at Wachovia so don't take your money out of the bank.

Some Wachovia bank branches may close within the next year when Citigroup takes over the 3,300 retail offices. This will have a devasting effect on the Charlotte area where Wachovia is headquartered.

I advise all Wachovia customers to keep an eye on their account balances and monitor the behavior of your local branch staff to see if they started acting differently or see if you can pick up on hints about the health of the company.

Get Your Equifax Credit Score for Free

Get a free Equifax credit score for a limited time. Visit equifax.com/freeficoscore for more information.

How the Merrill Lynch Buy Affects You

The recent buy of Merrill Lynch by Bank of America over a week ago supposedly kept Merrill from failing and filing for bankruptcy. Merrill Lynch has billions of dollars in bad debts from the sub-prime market. Merrill Lynch posted loses for the past 4 quarters and has wrote down $40 billion in loses.

The buy of Merrill Lynch was originally valued at $50 billion but reduced to a final purchase price of $40 billion.

It is shocking how the deal occurred in just 2 short days. It makes one wonder how can a deal be that sound if it occurred in that short amount of time. Bank of America’s interest in Merrill was due to Merrill Lynch’s investment banking services. Both companies offer different products and services to their customers which could cause a potential problem in the future.

For investors, Bank of America would exchange 0.8595 shares of Bank of America stock for each Merrill Lynch share of stock. If you currently have investments in Merrill Lynch now is the time to diversify your portfolio to protect yourself from severe market losses. However, don’t make any drastic changes.

The Securities Investor Protection Corporation protects cash and securities, such as stocks and bonds held by customer at a financially troubled brokerage firm but does not protect you the same as the FDIC. Check with your financial advisor to see what options are available to you.

Remember, it’s now what happens day to day, it’s how long you stay in the game. Your money double every 72 months so just ride it out.

How the Fannie Mae and Freddie Mac Bail Out Affects You

The collapse of Freddie Mac and Fannie Mae that occurred on September 7, 2008 occurred because of company greed and consumer responsibility. Company greed led mortgage industry professionals to lure unsuspecting consumers into loans they could not afford and would not be able to maintain. Greed and responsibility led consumers to believe they could afford a home out of their price range and still be able to pay all their other bills. Consumers are partly to blame for the following reasons:

1. Believing everything a mortgage professional tells you without verifying the information
2. Buying a house you know you could not afford
3. Not reading the fine print on the mortgage documents
4. Lack of education about the home buying process
5. Forging documents (income, number of years on a job etc.)

Fannie Mae and Freddie Mac are partly to blame:
1. Allowing illegal mortgage loans to be approved
2. Approving consumers for homes they could not afford
3. Not developing plans to help consumers stay in their homes
4. Not being truthful with consumers during the home buying process
5. Not being truthful with consumers about the company's financial problems
6. Forging documents

Many of you may have considered or already purchased Fannie Mae and Freddie Mac stock. Don't. For each share of stock you buy, you will only get $.20 on the dollar, so if you buy 100 shares, you really only have 20 shares. Preferred investors with hundreds and thousands of shares will get $.50 on the dollar for each share owned.

Although the government is providing $200 billion to help Fannie Mae and Freddie Mac recover, it will take both companies several years to pay off the government loan. Share prices will not begin to rise a significant amount until the company begins to make a profit which could take years if at all.

Many of the mortgages Fannie Mae and Freddie Mac own will never be repaid which would have caused them to file bankruptcy if the government had not taken over both companies.

If you currently have a high mortgage interest rate or your ARM will expire within the next 6 months or year now is a good time to try to refinance. If you have bad credit, spend the next few months paying off debt and repairing your credit so you can refinance your home to ensure you remain a homeowner.

Since the government doesn't have the $200 billion on hand to bailout out Fannie Mae and Freddie Mac, someone has to come up with the money, who you ask? Us, the taxpayers by paying higher taxes. Show your frustruation, anger, disappointment and resentment during this year's election by demanding a change in how the government is run and how companies are run. One vote can make a difference.

There is one bright star as a result of the Fannie Mae and Freddie Mac collapse, executives of both companies will not get paid their the combined total $24 million severance pay.

Downpayment Assistance Ends 10/1/08

Please contact your state congressmen to demand that Down Payment Assistance programs do not end on October 1, 2008. Tell them to pass H.R. 6694.

Research by Zelman & Associates reports that 10-25% of potential homebuyers will have no way of securing homeownership without down payment assistance. Since 1997, downpayment assistance has helped more than one million families become homeowners. Between 1997 and 2005, $12.3 billion has been generated in taxes for state and local governments through the purchases of 150,000 homes.

A quote from Scott Syphax, President and CEO of Nehemiah Corporation of America praised some members of congress.

“Maxine Waters, Gary Miller, Al Green and Christopher Shays have demonstrated the willingness to understand all sides of this issue and the courage and leadership to follow their conscience. All those who understand the importance of working class American’s having their shot at homeownership, need to work together to encourage our elected officials to pass this bill.”

“There are dire consequences to America waking up on October 1st without downpayment assistance. In fact, 300,000 working class families will be locked out of homeownership in the next year alone.”

You can contact the following House Committee on Financial Services committee members to show your support for down payment assistance programs which have helped thousands of Americans achieve the dream of owning a home.

Chairman Barney Frank represents Massachusetts' Fourth Congressional District of the House Committee on Financial Services which oversees the country's housing and financial services including real estate, public and assisted housing. The Committee reviews the laws and programs relating to the U.S. Department of Housing and Urban Development, Fannie Mae and Freddie Mac.

Democratic Members of the Committee are:
Rep. Paul E. Kanjorski, PA
Rep. Maxine Waters, CA
Rep. Carolyn B. Maloney, NY
Rep. Luis V. Gutierrez, IL
Rep. Nydia M. Velázquez, NY
Rep. Melvin L. Watt, NC
Rep. Gary L. Ackerman, NY
Rep. Brad Sherman, CA
Rep. Gregory W. Meeks, NY
Rep. Dennis Moore, KS
Rep. Michael E. Capuano, MA
Rep. Rubén Hinojosa, TX
Rep. William Lacy Clay, MO
Rep. Carolyn McCarthy, NY
Rep. Joe Baca, CA
Rep. Stephen F. Lynch, MA
Rep. Brad Miller, NC
Rep. David Scott, GA
Rep. Al Green, TX
Rep. Emanuel Cleaver, MO
Rep. Melissa L. Bean, IL
Rep. Gwen Moore, WI
Rep. Lincoln Davis, TN
Rep. Paul W. Hodes, NH
Rep. Keith Ellison, MN
Rep. Ron Klein, FL
Rep. Tim Mahoney, FL
Rep. Charles Wilson, OH
Rep. Ed Perlmutter, CO
Rep. Christopher S. Murphy, CT
Rep. Joe Donnelly, IN
Rep. Bill Foster, IL
Rep. Andre Carson, IN
Rep. Jackie Speier, CA
Rep. Don Cazayoux, LA
Rep. Travis Childers, MS

Republican Members of the Committee are:
Rep. Spencer Bachus, AL
Rep. Deborah Pryce, OH
Rep. Michael N. Castle, DE
Rep. Peter King, NY
Rep. Edward R. Royce, CA
Rep. Frank D. Lucas, OK
Rep. Ron Paul, TX
Rep. Steven C. LaTourette, OH
Rep. Donald A. Manzullo, IL
Rep. Walter B. Jones , NC
Rep. Judy Biggert, IL
Rep. Christopher Shays, CT
Rep. Gary G. Miller, CA
Rep. Shelley Moore Capito, WV
Rep. Tom Feeney, FL
Rep. Jeb Hensarling, TX
Rep. Scott Garrett, NJ
Rep. Ginny Brown-Waite, FL
Rep. J. Gresham Barrett, SC
Rep. Jim Gerlach, PA
Rep. Stevan Pearce, NM
Rep. Randy Neugebauer, TX
Rep. Tom Price, GA
Rep. Geoff Davis, KY
Rep. Patrick T. McHenry, NC
Rep. John Campbell, CA
Rep. Adam Putnam, FL
Rep. Michele Bachmann, MN
Rep. Peter J. Roskam, IL
Rep. Kenny Marchant, TX
Rep. Thaddeus McCotter, MI
Rep. Kevin McCarthy, CA
Rep. Dean Heller, NV

You can visit the Get Down Payment Assistance.com website to get more information.

6 Ways to Recession Proof Your Income

The Federal Reserve has dropped interest rates 2.25% points since August 2007. There were approximately 700,000 foreclosure filings in 2008. Congress is trying to combat the recession by giving Americans tax rebates. Oil prices are over $120 a barrel and gas is $4 or more a gallon. Food prices rose more than 4% from last year. With the high cost of gas, food, housing, utilities and travel costs you have to develop a plan to ensure you can sustain yourself through the current recession. Here are 6 ways to ensure you survive the recession.

1. Find stable employment – Many companies are having layoffs or reducing salaries or employee hours. To protect yourself, if you are a contractor or a seasonal employee try to find a stable job or get a part-time job to get additional income. Do research on a company to see their annual finance report, see what the company's plans are for the future and ask others if they have heard about the company to ensure you are working with a stable company. If you hear rumors of layoffs dust off that resume and start looking for a new job.

2. Reevaluate your finances – If you don't have health, life or disability insurance consider getting at least basic health insurance. Health costs are one of the biggest reasons for filing for bankruptcy and bad credit ratings. Get life insurance to at least cover funeral costs and cover bills for a few months.

3. Pay down debt – A balanced budget should consist of no more than 15% of your monthly income to pay monthly debt such as credit cards or student loan (this can vary based on your income and does not include rent or mortgage). Start small and pay off small bills first then work your way up to pay off larger debts. Double the minimum monthly payments when you can to pay down debt faster.

4. Create a budget or spending plan – create a budget and write down all of your monthly expenses and bills and your total monthly income to quickly see what you are spending your money on. Find ways to reduce expenses. Include savings goal in your budget and save enough money to cover at least 3 to 6 months worth of expenses.

5. Reduce Expenses – reduce your expenses one step at a time. Start small by taking your lunch to work, skipping that Starbucks Latte and bringing your coffee from home, use coupons or buy items on sale to save money. All these little things add up and will give you extra money to pay bills or pay down debt.

6. Don't avoid overdue bills. Many companies are desperate for money and may not follow the proper procedures to collect on a debt. They may file for judgment against you without ever notifying you. Call your creditors right away to setup payment plans to get current on old bills and prevent harassing calls or letters and damage to your credit report

Following these 6 tips will ensure you survive the current recession.

Check Out My Interview in the September Issue of Essence Magazine

Check Out My Interview in the September Issue of Essence Magazine page 108.

Harrine Freeman

Speaking to a Customer Service Rep May Cost You

Many people have complained over the years about dealing with a computer generated voice to answer questions or direct you to a customer service agent. Many companies opted to transfer calls to India or to other countries overseas to supposedly "save the company money". Other customers opted to use the http://gethuman.com/ website to find ways around the continual maze to reach a customer service agent for customers living in the US, England and Canada.

Well, now companies are fighting back. Some companies will now start charging a $5 fee if a customer would like to speak to a customer service representative or go to a customer service center to pay a bill or ask a question.

Some utility companies have eliminated the option of paying bills in person and have opted to use third party payment centers that will charge a fee that could be more than $5.

TMobile, Cablevision Systems and Cox Commmunications charges customers a $5 fee to speak to a customer service representative to pay a bill by phone. AT&T Wireless charges customers a $5 fee if they prefer to use a store clerk to make a bill payment instead of using a self-service kiosk. Comcast, Charter, Verizon Wireless and Verizon Telecommunications charge a smaller fee to pay a bill in person.

This election year is a critical year. This is the time to complain about issues that affect you, besides the main issues such as healthcare, the Iraq war, the housing crisis and the economy you can also complain about smaller issues such as how companies are taking advantages of customers charging outrageous fees to pay a bill by phone, if a bill is paid late, etc.

Write the company and complain, write your city council representative and write your congressman and let your voice be heard. You can also file a complaint against the cell phone and telephone companies with the Federal Trade Commission.

To avoid the fees you can pay your bill online but find out the security measures in place before signing up. Find out if your personal information will be encrypted, where it is stored and what happens if a security breach occurs - how are customers protected, etc.

You also have the option of switching companies and doing business with a company that doesn't show outrageous fees.

Decide on the option that is best for you.

Looking for People in Debt Aged 18-34 For Documentary

Taken from Peter Shankman

Current TV's (www.current.com) news department is producing a
half-hour documentary on young people in debt, how the economy
crisis is affecting us, and what our futures look like. The show
will be a look at various 18-34 year-olds around the U.S. who talk
about their experiences with moneywhether they are in debt or
trying to change their lifestyle so that they dont fall into debt.

We are trying to cover all ages and most major regions of the
country, and we are looking for someone who 1/lives in one of the
southern states, 2/ is between the ages of 27-34, 3/ is female, 4/
is not white, and 5/ in debt.


You can send all responses to:

Tracey Chang
Producer, Current TV
tchang@currentmedia.com

Or feel free to call:

office: (323) 308-4957
cell: (310) 980-5711

Current TV is a new cable network that airs in 50 million homes
around the U.S. and 12 million homes in the U.K. We also just
recently launched in Italy. Our network airs mostly news and
non-fiction programming for a target audience of 18-34 year olds.
You can learn more about our network at www.current.com

Upcoming Events

August 2008
August 23, 2008, Meet & Greet, Borders, 3304 Crain Hwy, #A, Waldorf, MD, 2-4pm

August 30, 2008, Interview with United Black Writers, Borders, Bowie, MD, 10am

September 2008
September 15, 2008, Financial Contributor, Heaven 1580AM, Todd B./The Breakdown, Lanham, MD 7am

September 16, 2008, Budgeting Basics Seminar, CAAB, 1801 K Street NW, Suite M100, Washington, DC

September 17, 2008, Credit Basics Seminars, Jin Lounge, 2014 14 Street NW, Washington, DC 6-9pm

September 20, 2008, Northern Virginia Community College, Fall Festival, Alexandria, VA, 11-3pm

September 26, 2008, CBC Author's Pavilion, Meet, Greet & Booksigning, Washington Convention Center, Exhibit Hall A Washington, DC, 1-3pm

September 27, 2008, Women's Empowerment Conference, Morgan State University, noon-1:15pm

September 27, 2008, Baltimore Book Festival, Booksigning, Baltimore, MD, 5-6pm

5 Ways to Keep Your Job

The number of unemployment claims of Americans laid off rose to 455,000 last week. This is the highest number of claims received since March 2002. Due to the recession, many companies are reducing benefits, work hours and laying off employees to cut back. Economists expect another series of layoffs by the end of this year. Here are 5 ways to keep your job and protect yourself from being laid off.


1. Update Your Resume. Update your resume and be sure to include all accomplishments you have achieved so far. Recruiters look for results so be sure to highlight yours.

2. Take a class. Take training classes related to your specific job to further your education. Keep your certificates in a file and provide a copy to your supervisor and Human Resources Department.

3. Volunteer. Volunteer for extra work assignments or to stay late to assist co-workers or your supervisor with high priority tasks. Ensure you supervisor is made aware of your hard work.

4. Feedback. Ask your co-workers and supervisor on feedback about your personality, strengths, weaknesses, and suggestions for improvement. Develop a personalized improvement plan and set deadlines to achieve each goal. Every 6 months provide a copy to your supervisor. This will be helpful if you receive annual performance reviews.

5. Work Ethic. Don't "borrow" or steal office supplies from work. Don't talk negatively about co-workers or your supervisor; you never know who may overhear you. Always arrive to work on-time and don't take regular extended lunch breaks or frequent days off. Limit internet use at work and use your cell phone for personal calls. Familiarize yourself with your Human Resources Manual or policies and ensure you are following them.

5 Inexpensive Foods To Slash Your Grocery Bill

During this recessions, Americans have been battling money issues and struggling to find money to pay for basic necessities. Gas for your car, housing and food are the major factors that have caused Americans to struggle.

If you are on a tight grocery budget, you know that you have to find creative ways to make you dollar stretch. Since last year, the price of dairy, bread and other products have increased. You can use coupons, buy items on sale, buy in bulk or shop at wholesale or discount stores like Costco, Food Lion or Sam’s Club to help save on grocery costs. If you eat out every day or multiple times a week, reduce that by 30-50% to save money. Try bringing your lunch to work or bringing your coffee from home and skipping the Starbucks. You can also purchase some inexpensive foods to cut grocery costs. Here are 5 foods that will help you save money.

1. Breakfast. Instead of buying sugar-coated cereal, replace with oat cereal or oatmeal along with a piece or fruit or toast.

2. Potatoes. Buy whole potatoes instead of instant potatoes. You can use the potatoes to make potato salad, mashed potatoes, baked potatoes, french fries, chips, sweet potatoes, pies, and more.

3. Nuts. Nuts can be used as a great snack instead of candy or junk food. Nuts are also healthy for you and are cheaper when bought still in their shell.

4. Fruit. Inexpensive fruits depending on the store can include watermelon, bananas and apples. They are also healthy for you and can help you lose weight.

5. Vegetables. Instead of buying packaged vegetables or pre-cooked vegetables buy raw vegetables and steam them or stir-fry them for a healthy alternative. Inexpensive vegetables include broccoli, greens, spinach and carrots.

4 Unusual Ways to Get Extra Cash

There are many ways to generate extra cash to: save for an emergency fund, pay down debt, pay for gas for your car or to just pay for basic necessities. Well, here are 4 unusual ways to get extra cash.

1. Hair. If you are a woman with long hair that has never been processed and you plan to get a shorter hairdo, you can donate your hair to Hairtrader.

2. Advertising. You can place an ad on a part of your body such as your face, neck, head or arms to help promote a business with companies such as eBay or Globat.

3. Donate Your Eggs. You can donate your healthy eggs for up to $2,500. Contact the Society for Assisted Reproductive Technology (SART) for more information. If you are up to it, you can become a surrogate mother for up to $25,000. Contact the Center for Surrogate Parenting for more information.

4. Participate in Studies. You can participate in studies for extra cash or donate your blood for science research. Contact Biotrax International for more information.

Bad Decisions to Eliminate Debt

Risky Solutions to Debt Elimination
Taking short cuts can lead to compounding woes

Taken from blackenterprise.com

By Zakiyyah El-Amin
August 1, 2008 -- If you are like most people, managing your finances isn't easy in today’s volatile market. As talk of recession threatens the U.S. economy, consumers are burdened with incomes that fail to keep up with inflation and expenses that continue to mount. Desperate for alternative ways to pay down debt, many rely on quick-fix solutions that often cause more harm than good.

Harrine Freeman, founder of H.E. Freeman Enterprises, believes that most people are simply trading one form of debt for another. “If you are already irresponsible with spending money, resorting to fast ways to get money is only a band-aid over the sore.”

The Bethesda, Maryland-based firm helps clients achieve their financial goals and educates them on how to prevent from falling trap to pricey habits. Freeman highlights a few common mistakes that can lead to further debt.

Use of Home Equity Loans
Many rationalize that this is effective because most home equity loans carry lower interest rates than credit cards and have interest that’s generally tax deductable. Understand that unsecured debt, such as credit cards, becomes tied to your home once this type of loan is used to pay it off. If you experience difficulties in making payments, you could default on the loan and risk losing your home. Since the amount that you can borrow is based upon your home’s value, as the value of your home decreases, so does your equity.

“Most people get a false sense of security once the debt is paid and end up accumulating more unsecured debt and putting themselves further in the whole,” Freeman adds.

Withdrawal from Retirement Plans
Tapping into your 401(k) jeopardizes your financial future. When you take money out of your retirement plan, you no longer benefit from tax-deferred compounding on the money withdrawn. Consequently, you have less money in your account working for you, which can lead to a smaller nest egg upon retirement. In addition, if you leave your job, you’re obligated to pay back the entire borrowed amount generally within 30-60 days. If you don’t, the unpaid balance will be treated like a distribution and you’ll owe taxes on the money and be charged a penalty.

Credit Card Cash Advances
Owning plastic comes with many bells and whistles. Credit card companies entice consumers with added features such as fraud protection, rewards, even cash. However, the likelihood of falling deeper into debt when using cash advances far outweighs the convenience of fast cash. If you pay off your balance in full at the end of the cycle, there’s no problem. Few understand that payments made to the credit card will first go toward regular purchases. Since cash advances carry higher interest rates than credit cards, problems arise when balances are carried over and both interest and fees compound.

Use of Debt Consolidation Loans

Debt consolidation is usually regarded as a credit cure-all that replaces multiple loans with a single loan resulting in lower monthly payments. However, the majority of consolidation loans only extend the pay-off period and do not carry lower rates. Since interest on consolidation loans is often higher than personal loans, mortgages and home equity loans, you actually owe more in the long run.

If you consolidate your loans, Freeman advises to use caution. “Many [debt consolidation agencies] are flooded with scams, and lenders who charge exorbitant fees and offer no real solutions to your debt,” she says. Some consolidators add fees directly to your monthly debt payments, without notifying borrowers of the charges. To help deal with debt, Freeman recommends that consumers establish a budget, develop a debt management plan, and consider credit counseling. Most importantly, use common sense by not spending money you do not have.

Show Your Support for DownPayment Assistance

The Department of Housing and Urban Development (HUD) has re-issued a proposed rule that would eliminate all private downpayment assistance programs.

Nehemiah has a long history of successfully advancing homeownership opportunities for homebuyers. For over 10 years, they have helped more than 290,000 families achieve their homeownership goals.

The proposed rule comment period ends on August 15, 2008. Submit a comment through our thge Nehemiah website to voice your support and let the Federal housing officials and your congressional representatives know how you feel about preserving private downpayment assistance as an option achieving your dream of becoming a homeowner.

How the Federal Minimum Wage Increase Affects You

The Federal Minimum Wage increased on July 24, 2008 to $6.55. This raised the minimum wage by $.70. Approximately 2 million Americans make minimum wage. This results in approximately an additional $5.60 a day, $28 a week and $112 a month for a 5 day work week. An additional increase will occur next year and raise the minimum wage to $7.25 an hour. Twenty-three states including the District of Columbia have a minimum wage higher than the new federal requirement which affects approximately 60% of American worker and are: Alaska, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Hawaii, Illinois, Iowa, Maine, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Oregon, Pennsylvania, Rhode Island, Vermont, Washington and West Virginia.

The poor and middle class are greatly affected by the current recession. The minimum wage could not have come at a better time, however it is not enough. Many Americans are struggling just to make end meet and to buy basic necessities and have to use credit cards just to buy food and gas.

The average family is spending approximately $4,655 more on basic necessities such as food, housing and gas. Child care costs have also increased for those with children under age 5 to $1,508 a month and for after-care with older children to $622 a month.

Americans will have to find ways to reduce expenses and make their money stretch further. If you like to eat steak for dinner substitute it for chicken or fish, eat hotdogs and beans for dinner or breakfast food for dinner. Fix tuna casserole or other types of casseroles for dinner to save money on food costs. You can also shop at wholesale stores, buy items or sale, use coupons, carpool to work, shop at thrift stores or discounts stores such as Ross, Marshalls or JC Penny.

The key is to cut expenses in every area you can. You will have to make sacrifices to make ends meet but it is possible. Think of creative ways to save money by reusing items, holding a yard sale or bartering services with others who have businesses. It will take a lot of hard work and discipline to make it through these tough times but if you make it through you will know that you are a survivor. Good luck to you.

IndyMAC - How Does This Affect Your Part 2

The FDIC created a website to help IndyMAC customers to determine if their account is fully insured which will help answer customer questions about their IndyMAC accounts at http://www4.fdic.gov/dip/Account_Search.asp.

The FDIC was started in 1933 in response to bank failures. Types of accounts covered by the FDIC are: savings, checking, trusts, CDs, IRAs and other deposit accounts and are insured up to $100,000 per depositor in each bank or thrift the FDIC insures.

The FDIC insures deposits only. It does not insure securities, mutual funds or other types of investments.

Securities including mutual funds, that are held by a broker, or a bank's brokerage subsidiary are not insured. The Securities Investors Protection Corporation (SIPC), replaces missing stocks and other securities in customer accounts up to $500,000, including up to $100,000 in cash, if a member brokerage or bank brokerage subsidiary fails. For more information contact:

Securities Investor Protection Corporation
805 15th Street, NW Room 800
Washington, DC 20005-2215
202-371-8300

Check Your Bank's Rating

There is a FDIC bank "problem list" that is not published to prevent consumers from closing their accounts. There were reportedly 90 banks on the list as of the end of the first quarter. Those that receive a rating of 4 or 5 are put on the list (Reference from CNN Money)

However, with 5 large bank closings this year you may want to find out the rating of your bank. A rating of 1 is the highest, a rating of 5 is the lowest.

1. Go to bankrate.com and search for Safe Sound or Safe Scan
2. Then select bank or credit union
3. Search by institution name (select the first letter of the name of the bank) or search by other criteria

List of "Problem Banks" Taken from Bankimplode.com

Citigroup - $83.3B/$36B/$22.7B (7)
Posted on July 18, 2008 9:03 AM
Merrill Lynch - $47.25B/$34.4B/* (1)
Posted on July 17, 2008 8:36 PM
JP Morgan Chase - $11.0B/*/$6B (3)
Posted on July 17, 2008 7:15 AM
Wells Fargo - $2.9B/0/$23B (2)
Posted on July 16, 2008 12:40 PM
US Bancorp - $1.6B/*/* (0)
Posted on July 15, 2008 12:13 PM
National City - $200M (0)
Posted on July 14, 2008 5:45 PM
Lehman Brothers - $7.2B/$6B/$42 (2)
Posted on July 11, 2008 10:05 AM
Wachovia - $6.8B/$10.5B/$30.4B (4)
Posted on July 10, 2008 11:23 AM
Bank of America - $4.4B/*/$31.4B (4)
Posted on July 8, 2008 12:16 PM
Barclay’s PLC - $6.4B/$7.8B (0)
Posted on June 30, 2008 6:02 PM
HBOS PLC - $2.5B/$4B (0)
Posted on June 25, 2008 1:45 PM
Canadian Imperial Bank of Commerce(CIBC) - $6.7B (0)
Posted on June 23, 2008 11:44 AM
Morgan Stanley - $23.2B (0)
Posted on June 19, 2008 1:38 PM
Fifth Third Bancorp - $155M/$2B (0)
Posted on June 18, 2008 5:16 PM
Goldman Sachs - $6.2B (3)
Posted on June 17, 2008 5:15 PM
Washington Mutual - $1.6B (2)
Posted on June 14, 2008 5:35 PM
Royal Bank of Scotland - $3.6B/$24B (2)
Posted on June 4, 2008 5:34 PM
Societe Generale SA- $13.7 /$8.5B (0)
Posted on June 4, 2008 3:08 PM
BNP Paribas SA-$2.5B/ $0 cash (0)
Posted on June 4, 2008 2:39 PM
UBS - $45.0B/$41.5B (2)
Posted on June 1, 2008 11:22 AM
Royal Bank of Canada - $1.4B (0)
Posted on May 29, 2008 6:07 PM
Bank of Montreal (BMO) - $611M (0)
Posted on May 29, 2008 1:02 PM
Mizuho MFG - $5.4B (0)
Posted on May 22, 2008 2:09 PM
Bayern LB - $9.8B (0)
Posted on May 19, 2008 7:42 AM
WestLB AG - $4.8B (0)
Posted on May 19, 2008 7:35 AM
Natixis - $3.4B (1)
Posted on May 19, 2008 7:31 AM
HSBC Bank PLC - $6.6B (0)
Posted on May 19, 2008 5:32 AM
Credit Agricole SA-$13.8B (0)
Posted on May 12, 2008 5:18 PM
Credit Suisse - $5.95B (0)
Posted on May 2, 2008 5:20 PM
Deutsche Bank - $18.6B (1)
Posted on May 2, 2008 5:19 PM
Mitsubishi Financial Group - $760M (0)
Posted on April 23, 2008 12:54 AM
SunTrust - $718.7M-$1.5 B (1)
Posted on April 13, 2008 6:33 PM
Bank of NY Mellon - $118M (0)
Posted on April 9, 2008 11:19 AM
Sovereign Bancorp - $1.580B (0)
Posted on April 8, 2008 1:29 PM
IKB - $12.91B (0)
Posted on March 20, 2008 8:13 PM
DZ BANK AG - $2.1B (0)
Posted on March 7, 2008 9:52 PM
HSBC - $26.5B (0)
Posted on March 5, 2008 5:25 PM
Commerzbank - $855M (1)
Posted on February 15, 2008 9:48 AM

Sources: Bankrate.com, CNN Money, Bank Implode

Check to See If Your Bank is On Bove's List

As of March 31, the FDIC put 90 banking institutions with $26.3 billion of assets on its "problem list." This list did not include IndyMac, which had about $32 billion of assets, and close to $19 billion of deposits.

On July 12, 2008, Dick Bove, a veteran banking analyst for Ladenburg Thalmann & Co., released a report entitled "Who Is Next? The report states that the banking system as a whole "is not anywhere near the danger that existed in the late 1980s and early 1990s despite all of the whining by public officials."

The report includes a list of banks and thrifts that are in the "danger zone." Bove ranked the list of 107 banks and thrifts with more than $5 billion in assets by two measures of risk which represent about 79% of the banking industry assets.

Some of the institutions listed were: Flagstar Bancorp, Downey Financial, Bank United Financial, Corus Bankshares, Doral Financial, IndyMac Bancorp, FirstFed Financial, Oriental Financial Group, Washington Mutual, BFC Financial, FirstBanCorp. and Santander BanCorp.

Washington Mutual released a statement, On Monday, to dispute Bove's list saying it had recently raised $7.2 billion in capital. "The company significantly exceeds all regulatory 'well-capitalized' minimums for depository institutions. In addition, WaMu has current excess liquidity of more than $40 billion and a national franchise with approximately $150 billion in retail deposits," it said.

More than 300 banks could fail in the next three years, said RBC Capital Markets analyst Gerard Cassidy, who had in February estimated no more than 150 banks.

Five banks that have failed thus far in 2008 are: IndyMac Bank, Pasadena, Calif., Douglass National Bank, Kansas City, Mo., First Integrity Bank, NA, Staples, Minn., ANB Financial, NA, Bentonville, Ark, Hume Bank, Hume, Mo.

Check to see if you bank is on Bove's list by searching on google and clicking on the link .pdf file from dealbreaker.com.

Also check to see if you bank is FDIC insured by calling 1-877-275-3342 or visit the FDIC website and click on the Bank Find link under the Consumer Resources section to search for your bank.

How to Save Money With Coupons

With the economy on a down-slide today, it is most important that we consumers save money as best as possible. One way of doing this is through an old reliable method known as "Coupon Clipping". There are many ways of obtaining coupons today and sacrificing the time to do so is well worth the savings. One way is investing $1.50 by buying the Sunday paper.

There are loads of coupons and what is great is that most coupons do not expire for months. Furthermore, you may use them at other places besides the supermarket. Places of acceptance CVS, Target, Kmart, etc. Now for the places such as Sam's Club, they do not accept manufacturer's coupons. But all is not lost, they have a mailing list of their members and mail out their own coupons.

Other places to obtain coupons are directly from the stores via the Internet and CVS has set up little kiosks within their stores. All you have to do is swipe your CVS card and coupons print right out and the other great part is that you do not have to use them that same day. Get on the coupon emailing and postal mailing lists, Valupak, does this via the Internet and postal mail for establishments within your area.

I get coupons for the salon, car wash, home repairs, etc. Going to the dealership to have maintenance done on you car can be expensive, not if you are on their mailing list. You can receive coupons for low cost or free oil changes, free 10-20 point inspections, 10-20% percent off of repairs and so forth.

These savings can add up all it takes is a little time and you can spend $150 per week and save almost $100. Beware of groups and clubs that want you to pay for your savings, what you pay them per month to receive their services you can get for free. Other savings come in the form of registering your email address with companies/stores you shop at on a regular basis. They will email you the latest sales and coupon codes for extra savings. Stores that do this are: Macy's, J C Penney, CVS, and so forth. Some will even send you links to receive free samples.

Example of how I make coupons work for me. On a Sunday night while relaxing and watching television I sit down with my coupons, weed out the expired ones, take out the coupons I will need, and clip fresh coupons from the Sunday paper. I have a small plastic portfolio that I keep in my car all times just in case I stop at the store. I went shopping at the CVS last month, I did what I call coupon shopping. That is only buying what I had coupons for, items that I need. My total came to $95.00, with my CVS card and CVS coupons and manufacturers coupons my new total was $40.00. That is a savings of $55.00. Furthermore, I was able to obtain more CVS bucks.

I am a single woman and I need to save has much as possible. Furthermore, don't forget to refinance, this is advice from Harrine Freeman. Refinancing has also saved me money. Well until next time, clip coupons and save, save, save.

Teri Ghaffaar
ebonytulipcollection@gmail.com

End Rising Gas Costs By Getting a New Car

According to Vehix.com, the following ten cars can be bought for under $14,000.
http://comcast.vehix.com/tv/topTenLists.aspx?&list=Least%20Expensive%20Vehicles%20for%202008#commentsTop_ctl00_ContentPlaceHolder1_comments

The following cars are the 10 most fuel efficient:
Toyota Prius
Honda Civic
Smart Fortwo
Nissan Altima
Kia Rio
Toyota Camry
Toyota Yaris
Mini Cooper
Honda Fit

Visit the Vehix website to find other fuel efficient cars and rankings for 2008.

IndyMac Closing - How Does This Affect You

On Friday, July 11, 2008 one of the largest banks in the county IndyMac, sadly closed its door. Customers were turned away and forced to wait until Monday to make their transactions. This is the second largest failure of a financial institution. On July 14, 2008, the bank will be taken over by the FDIC. Customers who have $100,000 or less in the bank will be able to get their money bank. Customers who have more may only get a portion of their money bank. This action brings more light to the economic crisis our country is experiencing. Take heed to this and start changing your spending habits and develop a plan to protect yourself. Here are 6 ways to protect your money.

1. Research. Look at the bank or mortgage company's financial history for the past five years. If the company revenue has been steadily declining you might want to consider switching companies.

2. Negotiate. Call your bank or mortgage company to find out what would happen if the business went under and what are your options. Develop a plan to protect yourself.

3. Diversify. Make sure your bank is FDIC insured. If not, move your money to a bank that is. If you have more than $100,000 in your bank, split the account into multiple accounts. Open additional accounts at others banks to keep the balance below $100,000.

4. Plan. Consider buying a safe for your home or apartment and keeping some money in your safe in the event your bank closes and you need to access money quickly.

5. Protect. Pay bills on time or before time. Don't wait until the last minute to pay a bill because with this economy you never know what may happen and you increase the chance that you may be charged a late fee.

6. Deposit. Perform bank transactions early in the morning. This ensures your deposit will be applied the same day. Don't wait until the last minute to make transactions, this increases the chance that your transaction may not be applied to your account the same day and may cause a check to bounce.

New Gas Program Offers Gas at $2.49 a Gallon

Current gas prices range from $4 to $5 a gallon depending on where you live. Discounts are non-existent or no longer available to drivers. I have spoken to several baby boomers and they said “it has never been this bad”. Many Americans are struggling just to make ends met and driving is now seen as a luxury. What can we do to ease the pain at the gas pump?

First, I recommend writing your congressman and the White House and demand lower gas prices. Also, write the major oil companies such as BP, Shell and ExxonMobil and demand they lower their gas prices. Second, reduce trips to the gas pump by rolling the windows down instead of using the car air conditioner, combine nearby trips on the same day, buy or trade in your gas-guzzler for a more fuel-efficient car. Third, you can comparison shop by using sites such as GasBuddy or MSN to find the cheapest gas in your area.

A fourth option is to buy gas and locked in prices at the GasLockedin website. The program was created by AGRP along with advertisers and is called the National Gasoline Relief Program designed to reduce gas prices. You may have seen the commercial offering gas at $2.49 per gallon. Many car dealerships are offering gas at $2.99 a gallon for a period of time in exchange for buying a car.

The AGRP is a much better deal because each advertised offer covers the difference of the national price of gas to $2.49 a gallon with 15 gallons per offer. A gas card is sent within 7 days of finishing all requirements. This program requires your participation in any advertiser program of your choice in exchange for the gasoline. This program is available in approximately 97% of the country. All you have to do is enter your zip code to see if the program is offered in your area. Good luck on your search for cheaper gas!

5 Ways to Boost Your Credit Score

Your credit score is one of the most important factors in your financial life. The current recession makes it even harder for consumers to get approved for a loan or line of credit which is why it is so crucial to have good credit.

If you have good credit and can afford to make purchases during this time you can get some great deals. However, if you are already in debt, don't have an emergency fund, savings account or retirement account you need to reevaluate your spending habits. While you are working on improving your spending habits you can also follow these 5 tips to boost your credit score so when the time is right you can make a purchase and get the best deal possible.

1. Change your mindset. You have to change the way your currently spend money and develop good spending habits so you make good choices when making purchases, buy in terms of needs vs. wants.

2. Get current on late bills. Pay old or late accounts immediately. Setup payment plans for bills that cannot be paid in full.

3. Establish credit. Open a secured account if you have bad credit or no credit to re-establish credit history. Use non-traditional forms of credit to establish history such as Pay Rent Buy Credit (Payment Reporting Builds Credit).

4. Keep balances low. Keep your credit card balances at 50% or below the credit limit. This shows you have good spending habits are not seen as a credit risk.

5. Don't open new accounts. Don't open any new accounts more than once every year when trying to improve your credit history. You will be seen as a credit risk and this will lower your credit score.

Appearance in Essence Magazine

Check out my interview in the July issue of Essence Magazine pages 73, 74 and 76 in the article titled The 30 Day Debt Diet. Enjoy!

Harrine Freeman
CEO/Owner, H.E. Freeman Enterprises
www.hefreemanenterprises.com

How to Save Gas with Your SUV

This is a bad time for Americans. The prices of many items are increasing. According to Money Magazine the cost of prescriptions drugs has increased, pharmacy co-pay prices have increased 25%, the cost of milk has increased by 14%, the cost of college tuition by 6%, the cost of eggs by 31%, the cost of bread by 14% and the cost of gas by 21% since last year. These statistics can be alarming but there are many ways to reduce costs in other areas to ease the burden of the rising prices.

The cost of gas has crimpled many Americans. For SUVs owners getting gas can be a nightmare. Some SUV drivers have to fill up multiples times a week and costs can range from $400 a month to $600 a month. That is the same amount of money some Americans pay on their monthly car payment. To help ease the burden when getting gas for your SUV follow these 5 tips:

1. Keep your trunk empty. Remove heavy and unnecessary items from your trunk, cargo bed and the inside of your SUV. Traveling with a lighter load helps improve your gas mileage.

2. Maintain a constant speed. Maintaining a constant speed reduces the amount of gas needed to rev up the engine to go faster, is better for the economy and will keep you from filling up more often.

3. Ditch the fancy tires. When your fancy tires wear out buy the standard tires that were on the SUV when you purchased it. This will improve gas mileage and save you money when buying new tires. The standard tires also provide a better ride especially on the highway, save the fancy tires for short trips.

4. Carpool. If gas prices are hurting your pocket, start carpooling. Offer to pick up co-workers or friends who work near your job. Make sure you charge enough money to cover the increasing costs of gas and inform your carpool riders that the price may increase as gas costs increase.

5. Regular maintenance. Perform regular maintenance on your SUV at the scheduled intervals, make sure you get regular tune-ups, oil changes, check tire pressure, air filters, and check your tires for wear. This will improve gas mileage and save you money in the future.

These tips will save you money and ease the burden of the increasing costs of gas during this summer.

Upcoming Events

October 2008
October 4, 2008, Capital Bookfest, 10-6pm

August 2008
August 9, 2008, Booksigning with the Author's Den, 1-4pm
August 14-16, 2008, Southern States Book Tour

July 2008
July 11, 2008, B. Dalton Booksigning, 50 Massachusetts Avenue, NW, Washington, DC, 4:30-6:30pm
July 13, 2008, Student Loan Teleseminar, Washington, DC, 7-8pm
July 16, 2008, The Women Network Seminar/Booksigning, 6-9pm, Jin Lounge, Washington, DC 6-9pm
July 24-26, National Black Arts Festival, Atlanta, GA

June 2008
June 6, 2008, Enterpreneurship Seminar, HOBY, George Washington University, Florence Hollis Hand Chapel, 2-3:30pm
June 7, 2008, Booksiging at Barnes & Noble, 21 Grand Corner Ave, Gaithersburg, MD, 1-3pm
June 11, 2008, Credit Repair Teleseminar with the Women Network, 7-8pm
June 21, 2008, Booksiging at Urban Knowledge Bookstore, Mondawmin Mall, 2301 Liberty Heights Avenue, Baltimore, MD 2-4pm

5 Ways to Save Money on Summer Vacations

Summer vacations are not what they used to be. This summer's vacation may prove to be difficult for many Americans due to the country's current economic situation or "recession". In years past Americans couldn't wait for summer vacation. They planned months in advance for their vacations and talked on and on about how much fun they would have. With the high cost of gas and food summer vacation may not exist this summer for some Americans. People are really cutting back and trying to find ways to save money to offset their increasing expenses and to just live day to day. If you can afford to go on vacation without charging it and having to pay for it later – do it! Here are 5 tips to help save money when you are planning for your summer vacation.

1. Snacks. Buy snacks and a few drinks and pack them in your suitcase before you leave. This will tide you over when you get hungry while on vacation until you are able to eat a full meal. This will also help you save you money that would be spent on midnight snacks.

2. Think Ahead. Plan at least six months to one year in advance for vacations. This will prevent you from going into debt just to have fun.

3. Shop around. Shop around to find the best deal. Visit websites like Kayak, Hottickets, AAA, Costco or Hotels.com to find comparison shop for airfare and hotels or vacation packages.

4. Safety. Buy traveler's checks instead of carrying credit or cash because they can quickly be replaced if lost. Take only one credit card only for emergencies.

5. Enjoy yourself. The most important thing to do while on vacation is - have fun, but don't overextend yourself by splurging on unnecessary items. Create a small list of items you want to purchase and stick to it. The worst feeling is to return from vacation and get bills in the mail from items charged while on vacation.

Beware of Identity Theft Protection Companies

Taken from the Associated Press, May 22, 2008.

Todd Davis has dared criminals for two years to try stealing his identity: Ads for his fraud-prevention company, LifeLock, even offer his Social Security number next to his smiling mug.

Now, Lifelock customers in Maryland, New Jersey and West Virginia are suing Davis, claiming his service didn't work as promised and he knew it wouldn't, because the service had failed even him. Attorney David Paris said he found records of other people applying for or receiving driver's licenses at least 20 times using Davis' Social Security number, though some of the applications may have been rejected because data in them didn't match what the Social Security Administration had on file.

Davis acknowledged in an interview with The Associated Press that his stunt has led to at least 87 instances in which people have tried to steal his identity, and one succeeded: a guy in Texas who duped an online payday loan operation last year into giving him $500 using Davis' Social Security number. Paris said the fact Davis' records were compromised at all supports the claim that Tempe, Ariz.-based LifeLock doesn't provide the comprehensive protection its advertisements say it does."

It's further evidence of the ineffectiveness of the services that LifeLock advertises," said Paris, who is lead attorney on the three new lawsuits, the latest of which was filed this month.Davis learned about the fraud in Texas when the payday-loan outfit called to collect on the loan, he said. He didn't get an alert beforehand because the company didn't go through one of the three major credit bureaus before approving the transaction.

Davis said it's possible driver's licenses have been issued to other people in his name because of the widespread availability of his personal information and because of what he described as the flimsy mechanisms in place to report that kind of fraud.Paris noted that LifeLock charges $10 a month to set fraud alerts with credit bureaus, even though consumers can do it themselves for free.

But Davis stands by his company and his advertising gimmick, which has appeared in newspapers and on billboards, radio and MTV. He even broadcasts it by bullhorn on walking tours through crowded downtowns."There's nothing on my actual credit report about uncollected funds, no outstanding tickets or warrants or anything," he said. "There's nothing to indicate my identity has been successfully compromised other than the one instance. I know I'm taking a slightly higher risk. But I'll take my risk for the tremendous benefit we're bringing to society and to consumers."

The lawsuits, for which Paris is seeking class-action status, highlight the fundamental limits on how much security identity-theft companies can provide. Companies like LifeLock can help guard against only certain types of financial fraud by helping consumers set up alerts with credit bureaus, which inform them when someone tries to open a new line of credit or boost their credit limit to finance a buying binge, for example.

The services don't guard against many types of identity theft such as use of a stolen Social Security number on a job application or for medical services, or even the instance of an arrestee giving police a stolen Social Security number to shield his own identity.

LifeLock is also being sued in Arizona over its $1 million service guarantee, which the plaintiffs claim is misleading because it only covers a defect in LifeLock's service, and in California by the Experian credit bureau. Experian accuses LifeLock of deceiving consumers about the breadth of its protection and abusing the system for attaching fraud alerts to credit reports.Security experts say complaints about the company reinforce the time-honored wisdom of keeping your Social Security number secret."

There's been a lot of marketing, a lot of hype about LifeLock," said Paul Stephens, director of policy and advocacy with the Privacy Rights Clearinghouse, a nonprofit consumer advocacy organization. "The question is, 'How much protection does it really buy you?'""There is no company that can guarantee they can protect you (completely) against identity theft," Stephens said. "Absolutely nobody can do that."

6 Ways to Save on Airline Fares

With the current economic crisis (recession) that we are experiencing in America, this summer will be an expensive one. The cost of gas, food, dairy, clothing and air fares will increase. American Airlines plans to start charging $15 for the first bag checked in, all others bag can be checked in at no charge. United Airlines and US Airways charge a $25 fee each way for a second bag checked in. Plan ahead so you don't get caught in the price increase that will occur this summer. Here are 6 tips to help you save money on buying an airline ticket.

1. Start with the airlines first. Many airlines have specials that are not advertised on their website. You can call the airline directly and ask about current specials or sign up for the airlines free newsletter or airfare alert service to find out about discounted air fares.

2. Find deals. Shop around to find the best deal. Visit websites like www.travelocity.com, Kayak, Hotwire, Priceline, Orbitz, Cheaptickets or Hotels.com to find cheap rates for hotel, airfare and cruises. You can also try using smaller airlines such as airline travel booking websites such as www.cheapflights.com.

3. Book in advance. Try booking your flight at least 2 weeks in advance to save money.

4. Be flexible. Try booking your flight during the week and avoid flights near holidays unless you are specifically doing holiday traveling. You can also search for flights with one or two stops instead of non-stop flights to save money.

5. Fly big. Book flights that fly out of larger airports to save money.

6. Ask for membership discounts. Some airlines offer discounts to students, senior citizens, government employees, AAA members, and other organizations. Contact the airline to find out what discounts they offer to see if you are eligible.

Don't Let the Cost of Gas Crimple You

For the past year now I have not really realized the effects of the price of gas until this week. Prior to the price hike I could fill up my gas tank with a mere $12. I bragged to all my friends and family about how I could fill up my car with less than $20 a week. I loved my car and was glad I had didn't have a gas guzzler. Unfortunately that slowly began to increase.

One month it took $15, then $20, then $22, then $27, then $30, now I am at $33 for a fill-up. Now I know many of you are saying, that doesn't even fill up half my gas tank and I should be happy, but I am not. I didn't get to where I am in life by spending money frivolous. I did so by comparison shopping to find the best bargains, unfortunately this expense is not something I can negotiate.

What myself and everyone can do is complain about it to Congress by writing letters and depending a dramatic decrease in the price of gas. Inform your current State Legislators that if they do not lower the price of gas they will lose your vote. This is very critical since this is an election year. You may not feel you have the power to make a difference, but one voice can and if they hear all of our voices we can make a change. In the meantime here are 4 tips to help ease the cost of gas:

1. Combine nearby trips on the same day - this will save you time and money

2. Drive the speed limit - this reduces the amount of gas needed for your car

3. Buy your gas in the morning - gas is more dense in cold weather and in the early morning in the summer month you will get more for your money

4. Check your tires - ensure you tires are properly inflated helps prevents less friction on the road and helps tires last longer

Upcoming Events

May 2008
May 12, 2008, WUFO 1080AM, Interview with Pat Freeman, Buffalo, NY, noon-1pm
May 16, 2008, Interview w/iM4radio, Lanham, MD, 10am
May 17, 2008, Featured Speaker at Univ. of MD Eastern Shore, Princess Anne, MD

June 2008
June 6, 2008, Enterpreneurship Seminar with HOBY, George Washington University, Florence Hollis Hand Chapel, Washington, DC
June 7, 2008, Barnes & Noble Booksigning, 21 Grand Corner Avenue, Gaithersubrg, MD 1- 3pm
June 11, 2008, Credit Repair Teleseminar with the Women Network, 8-9pm
June 21, 2008, Booksigning at Urban Knowledge Bookstore, Mondawmin Mall, 2301 Liberty Heights Avenue, Baltimore, MD 2-4pm

5 Ways to Survive In This Economy

We have had recessions in America in the past which has affected various industries such as agricultural and manufacturing. The last recession we had was in 2001. There have been 8 recessions in the past 40 years and since 1945 there have been 11 recessions.

The shortest recession lasted 6 months while the longest lasted 16 months. A recession is defined by Webster's as: an extended decline in general business activity, typically two consecutive quarters of falling real gross national product (GDP) or the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year.

The economy is classified as being in recession only if there is a widespread decline in the economy that includes an overall decline in production, employment, personal income, industrial sales, and total manufacturing and trade sales. The decline must be long enough to be classified as "substantial and significant." This recession included industries such as housing, oil, employment and manufacturing. We know we were in a recession because:

1. Shares price dropped sharply
2. There were frequent employee layoffs
3. Several business went bankrupt
4. There was a rise in unemployment
5. There was a decline in employee income
6. There was a decrease in sales of manufactured products
8. Americans received an economic stimulus package refund
9. Interest rate reductions by the Federal Reserve z times in the past x months
10. There was an increase in negative savings rate
11. Economic issues developed in other countries
12. Value of the dollar sharply declined
13. ising costs of products or services

Here are 5 ways to protect yourself during a recession:
Protect your investments - call your broker and adjust your portfolio to limit the effects of the recession and money lost during this time. Ensure your portfolio is adequately diversified.

Stay calm - don't make rash decisions based on your emotions. Before making any changes think about your situation and wait one or two days and think about a solution. Get advice from friends or family members who have previously had financial crises.

Reevaluate your existing mortgage loan - review your existing mortgage loan to see if you got a good deal on your mortgage loan. If not, it's time to refinance to a lower fixed interest rate that will provide a level of stability to help you get through these difficult times.

Reduce your debt - create a debt payoff plan to identify the total debt owed, the minimum monthly payment and balance on each account. Create a plan to pay off each bill and find ways to reduce expenses to get extra money to pay down debt.Update your resume - if you are currently employed and as a general rule of thumb, each time you start a new job or new position with your existing company revise your resume. Update it at least once every 6 months. Take training class or learn a new process or skill at work to make yourself seen as a valuable asset to the company. Also, begin networking with staff outside your department to make alliances to staff that can provide leads, and other information on finding a job.

Good luck!