For an online brokerage that has great pricing as well as great ongoing promotions, check out OptionsHouse. Their services are for the active stock and options trader and investor. You can take advantage of their top-notch suite of tools (including Virtual Trading) and they’ll give you 100 free complementary trades when you open a real trading account, if you decide to get started with trading. They also have a few other promotions that make signing up for this stock and options trading brokerage worth a look. Remember that their pricing is some of the best around for stock brokers, with a flat rate of $2.95 per stock trade, and $5 for up to 5 contracts (or $8.50 plus .15/contract).

OptionsHouse Free Trades & Other Promotions

Note that some of the offers can’t be taken together when you sign up for an account, so make sure you review the information carefully. Here’s a full list of current promotions from OptionsHouse, but we also discuss them below.

100 Commission Free Sales

There’s nothing more exhilarating than making a successful trade, except maybe if you make that trade for free? All new OptionsHouse customers have the opportunity to trade without spending a cent. Get 100 free trades when you sign up for an OptionsHouse brokerage account Just fund your new account with $3,000 or more and enjoy your next 100 trades at no cost. You’ll need to execute the trades within 60 days of funding your account, otherwise they will expire unused.

90 Days of Free Investment Coaching

If you’re new to options investing or if you need to beef up your learning in this area, you can take advantage of one of the most comprehensive knowledge centers for free for the first 90 days upon opening a new OptionsHouse account and placing at least $1,000 in your cash account or $2,000 for margin accounts. It’s a great opportunity to receive professional stock and options trading advice for zero cost.

Refer A Friend

OptionsHouse will reward you for letting your friends know about their trading platform. If you recommend OptionsHouse to a friend and they open an account with this brokerage, then you get your choice of $50 or 10 free trades. Not only does your friend get the benefit of a great brokerage, but you also get paid for doing nothing more than you would have done anyway!

90 Day Subscription to Morningstar

As if having an OptionsHouse brokerage account wasn’t enough. Now, OptionsHouse offers the power of its online brokerage combined with the unparalleled research and in-depth analysis of Morningstar to give you unlimited access to a complete online resource — research, articles, forums, Options Investor Guide, the OptionInvestor weekly report and the StockInvestor monthly newsletter. This is all FREE for 90 days after funding your new OptionsHouse trading account with $1,000 for a cash account or $2,000 for a margin account.

ACAT Transfer Rebate: $100 To Switch Brokers

If you’d like to consider switching brokers, you’ve got the extra incentive of receiving up to $100 if you move your funds over to OptionsHouse. Some brokers refund you for any fees incurred when you do the switch, and OH is no exception. You can move your mutual funds, options and stocks over without having to worry about transfer fees.

Wire Fees Rebate

You can open a brokerage account and get same day funding through OptionsHouse’s electronic transfer features. But as a new customer, you can also receive a wire fee rebate if you so choose to take advantage of this promotion. Your wire transfer fees will be covered up to $25. If you’re interested, you can get more information about this offer through this link.

And for more details about this highly regarded online stock broker, you can check out our OptionsHouse review here. If you’re an active investor or trader, it may be worth looking into this online firm. The extra benefits are certainly a great bonus as well!

For those interested, here are more free online stock trading promotions.

This is a post from The Smarter Wallet.

OptionsHouse Free Trades & Other Promotions

Billing itself as “The World’s Most Prestigious and Versatile Credit Card,” Barclays’ Visa Black Card has garnered a lot of attention in recent months. What does this card offer to its users and who can benefit the most from it?

If you like the idea of exclusive deals, then the Visa Black Credit Card might appeal to you. Barclay claims to limit this particular card to 1% of U.S. residents. And it’s made of patent-pending carbon, which makes it stand out from the plastic cards up for grabs elsewhere.

How much will this exclusivity cost you? You can expect to pay an annual fee of $495. Since this annual fee is substantially higher than run-of-the-mill credit cards, it’s worth noting that membership gives you access to a rewards program and 24-hour concierge service.

Visa Black Credit Card Review: Concierge Service & Rewards

First, the good: the concierge service can help you with travel arrangements, restaurant reservations, and more, whether you need it for your business or not. For instance, you can learn more about local events, arrange for gifts or flowers, set up conference services, and gain assistance in tracking down the right gifts.

This can be of help when you’re away from home or vacationing — you won’t have to pay extra for flaky Wi-Fi access or waste time hunting for a place to eat if you can call the concierge service. You can email in your requests if that’s easier than phoning, too.

As for the rewards program, how does 1% cash back on your purchases or airline points without blackouts or restrictions sound? To be honest, it may be hard to make up or justify the annual fee on this card unless you use it often. At any rate, you can redeem your rewards by logging into your account or by calling customer service for a Redemption Specialist.

For alternative cards that offer better rewards and/or no annual fees, check out this list of top rewards cards:

For additional options, here’s where to check out some great cash back credit cards; most of these have no annual fee!

Visa Black Credit Card Terms

To sweeten the deal, the Visa Black Card offers luxury gifts and a Travel Lounge Priority Pass. If you spend a lot of time in the air, you’ll be able to stop by airport lounges in more than 100 countries, over 600 airport lounges total.

What about the APR? It’s going to be 13.24% at the account’s opening. Not necessarily the lowest rate card out there. The APR will vary based on the Prime Rate. For cash advances, the APR is 21.99%, variable based on the Prime Rate.

In the event you’re already carrying a balance on another card, you have the option of transferring that balance over to the Black Card. For six months, that balance won’t accrue any interest. After the introductory period, your APR for balance transfers will rise to 13.24% based on your credit history. Now if you’re interested in seeing other cards of this sort, here’s where to check out some top balance transfer cards.

Additional Benefits of the Visa Black Card

Book your travel fare with the Black Card and you’ll receive worldwide travel insurance worth $250,000, if your travel’s eligible. Afraid of losing your bags? There’s baggage delay insurance, which covers $100 a day for 3 days. And if you’re renting a car, there’s a collision damage waiver. No one expects trouble when they book their travel itinerary, but the Black Card has you covered with trip interruption/cancellation insurance.

Your purchases have some coverage, too. Purchase Security means that you have 90 days to make a claim on eligible items; you’ll see the item replaced or repaired, or you’ll be reimbursed, up to $500 per eligible claim. With the Warranty Manager Service, you’ll be able to access warranty registration and Extended Warranty Protection for things you purchase. For the Extended Warranty Protection service, that means your purchase’s original warranty period will be doubled, up to a year’s time.

Is this the right card for you? For the average consumer, it may be possible to find less exclusive credit cards with more favorable APRs, which is important if you tend to carry a balance. However, despite the substantial annual fee, you might be able to make the card pay for itself if you’re already predisposed to be a heavy duty credit user who pays off the balance each month.

I would suggest that you compare your credit cards against the services offered by this particular card. Will the upgrade in benefits justify leaving your other cards behind? Don’t forget to look over the Terms and Conditions, which will disclose the penalties as well as the benefits of the Black Card.

This is a post from The Smarter Wallet.

Visa Black Credit Card Review

If the idea of investing intimidates you, then you might be interested in a company that allows you to buy stocks online without a premium price tag. Or maybe you’ve already tried a few online stock brokerage firms, but you want the simplicity of automatic investing.

This time out, let’s take a look at ShareBuilder. ShareBuilder is offered by ING Direct, which is popular thanks to its online savings account and Electric Orange checking account. There are several types of ShareBuilder accounts including:

• Individual or joint accounts
• Retirement accounts: traditional, Roth, or rollover IRAs
• For children: Educational Savings Account or a custodial account

You aren’t limited to one type of account. If you have several goals, then you’re welcome to have multiple accounts with just one log-in. This is a convenience compared to having accounts all over town or the country.

ShareBuilder’s Pricing

Once you figure out which type of account you’d like, you need to pick out a pricing plan. The Basic account charges you $4 per scheduled investment and there’s no subscription fee. You might prefer this account if you’re a novice investor or you don’t plan to invest very often. Tools you can access are PortfolioBuilder and Gain & Loss Tracking.

With the Standard account, you’re allowed to have 6 scheduled investments for $12 each month. You’ll also be able to use various investing tools as much as you’d like. These tools include PortfolioBuilder, Gain & Loss Tracking, and Stock Grades. ShareBuilder is offering a free one-month trial of the Standard Account. This can allow you to get familiar with ShareBuilder’s features without committing a lot of cash to it.

The Advantage account gives you up to 20 scheduled investments for $20. In addition, you can explore all the investment tools, such as the ones mentioned above, the Stock Reports and IPO Priority Notification.

There’s no account minimum, and you don’t have to lose money to inactivity fees. You can fund your account with automatic electronic fund transfers from your checking or high yield savings account.

Or you can mail in a check, wire the deposit, or even fund it through a payroll deduction. If you already have a brokerage account, then ShareBuilder will allow you to transfer funds from it for free. You might even be eligible for a $100 bonus if you transfer a minimum of $500 from another brokerage and you fill out the form.

There are more than 7,000 stocks, mutual funds, and ETFs for you to choose from. You can make your investment choices in real-time during market hours. If the market’s open, you can buy and sell in seconds. That way, if you spot a buying opportunity, you can act on it quickly.

Real-time trades cost $9.95 per online trade. And if you want phone trades for real-time and mutual fund trades, they will cost you $19.95. Here’s where to go to get more info. Also, note that at times, ShareBuilder holds promotions that you may want to take advantage of.

Automate Your Investing

To make your investments grow on a regular basis, you can opt to automate your investing. Choose from weekly, biweekly, or monthly investments. You can even buy your stocks in specific amounts. If you go the automatic route, your investments will happen on Tuesdays.

Research and Tools

If you aren’t sure where to start your portfolio, the PortfolioBuilder tool can help. It can assist you with a personalized portfolio and a profile analysis that can examine your risk tolerance. When you’re ready, you can use the portfolio for your automated investment plan.

Research tools include stock, ETF, and mutual fund finders; the Quick Fund Selector; a watch list; and a tool to help you check historic prices on certain stocks that may interest you.

When you provide your email address and name, ShareBuilder will send you a guide that covers the basics of investing.

As with many investments, you need to remember that your account can lose money. Plus, securities aren’t insured by the FDIC the way checking and savings accounts are backed by the government.

But all in all, getting started with buying stocks doesn’t have to be an ordeal. If you’re willing to try online investing and you don’t want to pay a ton of fees, then check out ShareBuilder. Over time, your investments here can be worth quite a bit.

This is a post from The Smarter Wallet.

Sharebuilder Broker Review

Cash back credit cards are a great option for cardholders who want to get money back when they spend. If you’ve got good financial habits and excellent credit, these cards can serve you well. Since credit cards are handy for paying recurring bills like utilities, for online shopping, and for the basics like groceries and gasoline, you may want to seek out a credit card that offers cash back so that your purchases can recoup some money for you.

How do you know if this type of credit card is right for you? These cards can be the ideal choice for you if you don’t have much credit card debt to manage and if you have good credit history so that you can qualify for lower interest rates and pay fewer fees.

To maximize the impact and use of a cash back card, it would be best for you to pay off your balance each month. That way, you’re not paying interest on your purchases, which would neutralize the benefits you would get from using the card.

Best Cash Back Credit Cards

With these guidelines in mind, let’s take a look at some popular cash back credit cards.

Citi Dividend Platinum Select MasterCard

Are you looking for a flexible rewards card? Here’s a great cash back card from Citi which will allow you to earn 5% cash back on hotels, car rentals and restaurants and other spending categories. Check to see if you need to enroll for these rewards each quarter. You’ll also earn 1% cash back on all other purchases.

Now while all this sounds pretty standard for such cards these days, the Citi Dividend Platinum Select MasterCard also lets you receive rewards for cash advances and balance transfers, which are benefits I only see offered through a few cards. You’ll get 1% cash back for cash advances and $5 on individual balance transfer transactions amounting to $1,500 or more. You’ll also get an average 5% cash back when you shop at the Citi Bonus Cash Center where there are over 400 retailers to visit.

As for terms, this card offers an introductory rate of 0% APR on balance transfers for 15 months. Rates go up after this period based on your credit history, are variable and pegged to the Prime Rate. There’s also no annual fee on this card.

Chase Freedom MasterCard

Here’s a card that offers 5% cash back on categories such as airlines, hotels, groceries, home improvement, department stores, and gas. You can earn 1% cash back on your other purchases. If you shop through the online Ultimate Rewards Mall, you may be eligible for up to 20% cash back, depending on the purchase and merchant.

There’s no annual fee and the rewards don’t expire. In the event that you don’t want the cash back, you can choose to redeem your reward points as gift cards, for travel, or statement credits.

In addition, you may qualify for a 0% intro APR on balance transfers for 12 months and a 0% intro APR on purchases for 6 months.

This card has an alter ego in the Chase Freedom Visa, which offers a bonus of $100 in cash back after you spend $799 in the first 3 months of using the card. However, there is no 0% intro rate period available.

Blue Cash from American Express

If you’ve used this card and spent $6,500 and over during the year, you can net 5% cash back on purchases at drugstores, grocery stores, and gas stations. For other types of purchases, you’ll earn 1.25% cash back. If you’ve spent less than $6,500, you’ll earn 1% on gas, groceries, and everyday items; earn .5% on other types of purchases.

This card doesn’t have an annual fee, either. The APR for purchases is 0% for 6 months. Then your interest rate will be variable, currently 17.24%, 19.24% or 21.24%, depending on your credit history.

If you add family or friends to your account, their purchases can help you earn your cash back faster. Your cash back will show up as a credit on your statement about a month after your first year with the program. That means no complicated forms to fill out to get your money back.

Discover More Card

This card offers a whopping 5% cash back on categories like travel, gas, groceries, and restaurants, which makes it a serious choice especially for credit card holders who need to travel quite a bit. Purchases in other categories can earn up to a 1% cash back bonus.

If you shop through the Discover online mall, you might earn from 5% to 20% in cash back bonuses.

The introductory rate for purchases is 0% for 6 months. Then the rate will rise to 11.99% variable, but may be more, depending on your credit history. You’ll encounter lower interest rates if you have excellent credit. This is also a balance transfer credit card. For balance transfers, you can benefit from a 0% APR for 12 months. This card doesn’t have an annual fee.

As a bonus, this card offers $75 cash back if you spend $500 in your first three months of using the card.

Capital One No Hassle Cash Rewards

You can earn up to 2% cash back on gas and groceries and 1% on other kinds of purchases. The rewards don’t expire and there’s no limit to how many points you can earn. The introductory APR for purchases is 0% for 9 months; then it’ll be 19.80% variable.

Getting your cash back is easy as calling the Rewards Center or going online. You can also opt to get your cash back automatically.

The annual fee for this card is $39. You’ll need average credit to apply.

Before you sign up for a cash back card, make note of any fees you’ll have to pay, the interest rate for purchases, balance transfers and cash advances, and the steps you need to take to receive the cash back. Compare a few cards — you might find a winner that you can put to work.

This is a post from The Smarter Wallet.

Best Cash Back Credit Cards: Our Picks

For years after I graduated from college, I made payments to a certain company for my student loans. Lately, I’ve learned that Sallie Mae has several savings products. You can choose to apply for an online savings account or to buy certificates of deposit.

Sallie Mae High Yield Savings Account Review

Sallie Mae’s Online High-Yield Savings account stands out because it currently offers an APY of 1.40%. By contrast, a Bank of America customer in Missouri will be offered a regular savings account with a .10% APY.

There’s no minimum balance to open an account, and there aren’t any monthly fees to drain your funds. And when you register, you can specify either an individual or joint account.

To make deposits, you can link an external account from another bank, then make transfers to your Sallie Mae High-Yield Savings account. You can make transfers or withdrawals via the bank’s website or by calling the bank’s phone number. You can also set up the account for direct deposit or mail checks in as deposits. Interest is compounded daily.

This savings account is insured by the FDIC, so you don’t have to worry about your money disappearing overnight. To open an account online, you’ll need your Social Security Number, a valid form of ID like a driver’s license or military ID, and information about an external checking account that you already have, so you can make deposits to the new savings account.

What about fees? There are a few fees to keep in mind, such as the excessive transactions fee of $10 per withdrawal when you go over the limit of 6 transactions in a statement period. You’ll pay $5 for each deposit that’s returned. And if you want the bank to mail you a copy of your statement, you’ll need to pay $5 per statement. If you’d rather save some money, they advise you to print out your statement via their website instead.

Sallie Mae Certificates of Deposit: Some Details

Sallie Mae also offers certificates of deposit (CDs) with varying terms and rates. A certificate of deposit is a savings vehicle that typically offers higher interest rates if you commit your deposit to a certain length of time. These rates are subject to change (for Sallie Mae’s updated rates, please check this link.)

You can compare these rates with those offered at other banks and institutions: compare online banks here.

These Sallie Mae CDs don’t have monthly fees and like the savings account, they’re insured by the FDIC. When the CDs mature at the end of their terms, they’ll renew automatically. You’ll have 10 days to withdraw the money if you want, though, and the bank will notify you before the CDs mature.

What about early withdrawal penalties? Although there are no monthly fees, you’ll encounter early termination fees if you attempt to withdraw money from the certificates of deposit before they mature. For CDs that mature in 12 months or less, you can expect to lose 3 months’ worth of interest. Otherwise, you’ll lose the equivalent of 6 months’ worth of interest.

Enhance Your College Savings With Upromise!

One great feature that Sallie Mae has over other financial institutions is its acquisition of Upromise, which to me, is one of the best savings programs out there that you can set up for your kids.

If you have students who will head for college sometime in the future, you can open accounts for them in the Upromise college savings program. Upromise allows you to save money when you spend using your credit card (a Upromise card or any other card you register with the program). You can also invite your personal network of family and friends to contribute to your savings efforts through their own spending using their own credit cards; they just need to get set up to contribute to your dependent’s account.

When you make purchases from Upromise’s roster of partners, it’s possible for you to receive discounts and/or earn matching funds for college. I think that anyone with kids should join this program, given that everything about it is free! Through Upromise, you also have the perfect opportunity to open a 529 college savings plan.

After you link your Upromise account to your Sallie Mae High-Yield Savings account, you have the opportunity to earn some great benefits. For instance, through Upromise, you’ll be able to check out coupons and offers from retailers you already know and enjoy. Some of those retail partners include more than 700 stores like Sears.com, Macys.com, and Overstock.com and restaurants such as Denny’s and McDonalds.

Plus, you can purchase more than 20,000 products from local and nationwide grocery stores and drugstores. Chances are that many of these products are already on your shopping list each week or month. With Upromise, you can have those items contribute to your college fund, thanks to the matching funds and/or discounts.

Get An Additional Cash Bonus Into Your Sallie Mae Savings Account

Best of all, Upromise will deposit a 10% annual match into your Sallie Mae High Yield Savings Account if you meet a few stipulations. Within 90 days of opening your savings account, you’ll need to either set up an automatic savings plan of at least $25 per month OR you’ll need to deposit a total of at least $5,000 into the account. You’ll see the 10% match in the February of the year that follows. Other rules might apply, so read the fine print before you sign up.

If you’re looking for a new online savings account or you want to get started with certificates of deposit, then take a look at what Sallie Mae has to offer. What you find just might wipe out the memory of any student loans you’ve had in the past!

This is a post from The Smarter Wallet.

Sallie Mae Savings Account & CD Review

Whether you have a job, have a business or go to school, transportation and related gas expenses are inevitable. Everyone has somewhere they have to go, even if they try to minimize driving. Gas credit cards with benefits and rewards are a great way to cut down on the rising costs of gas, a household necessity for most of us.

How Do Gas Credit Card Rewards Work?

Much like any other credit card with a rewards system, you earn cash back or rewards for every dollar charged. Incentives might include cash back on gas, cash back on related purchases, points for rewards and more. Every time you fill your tank, you’ll earn something extra. That always makes me feel a little bit better about stopping for gas, regardless of the current prices posted.

Which Ones Are The Top Gas Cards?

With many gas cards to choose from, here are a few top contenders based on user experience:

Discover Open Road Card. This flexible credit card offers an interest rate of 0.0% for 6 months from the date of account opening, after which the standard APR (a rate between 11.99% variable and 20.99% variable) applies. The benefits:

• Earn a full 2% cash back on any gas or restaurant purchases.
• Get 5% to 20% cash back for shopping through their online shopping mall.
• Get up to 1% unlimited cash back bonus on all other purchases automatically.

Basically, everything you charge on the Discover Open Road card will earn you cash back. There is also a Discover Student Open Road Card to ensure your (older) children always get back home for the holidays to visit!

Discover More Card. You’re right on time to take advantage of serious cash back on summer gas purchases. Much like the Discover Open Road Card, you get an interest rate of 0.0% for 6 months from the date of account opening, then the standard APR (a rate between 11.99% variable and 19.99% variable).

• Earn a 5% cash back bonus on various purchases based on the month.
• From April to June, cardholders earned 5% cash back for home and fashion purchases.
• From July to September, 2010, earn 5% cash back on gas, hotels and movies.
• Between October and December, 2010, you’ll earn 5% cash back on restaurants and fashion for the holidays.
• Finally, if you spend $599 or more on the Discover More Card during the first 3 months, you get $50 additional cash back. Those are sweet and timely rewards!

 
American Express Blue Cash Credit Card. Backed by the powerhouse American Express, this rewards card charges 0% interest for 6 months, then readjusts to as low as Prime Rate + at 13.99%.

• Earn up to 5% cash back at gas stations, supermarkets and drugstores.
• Receive 1.25% cash back on all other purchases with unlimited cash rewards and no minimum spending requirements.
• Rebates are awarded annually for each rebate year (which is 12 consecutive billing periods).
• If you purchase up to $6,500 of eligible purchases, the rebate is 1.0% for everyday purchases and 0.5% for all other eligible purchases.
• If you purchase $6,500.01 or more on your American Express Blue Cash Credit Card, the rate increases to 5.0% for everyday purchases and 1.25% for all other eligible purchases.

It pays to use this card all the time!

 
True Earnings Card from Costco and American Express. Like the others, the interest rate is 0% for 6 months, then after the intro period is over, it rises to Prime Rate + 11.99%.

• Earn 3% cash back for the first $3,000 spent on annual gasoline purchases, which can really add up! After the initial $3,000, you earn 1% cash back from gas purchases thereafter.
• Earn 3% cash back for restaurants, 2% cash back for travel and 1% cash back everywhere else.
• No annual fee for the True Earnings Card from Costco and American Express with your paid Costco membership.

I love to buy items that I constantly use in bulk from Costco, such as paper towels, toilet tissue paper and pasta. With rebates, this can add up to significant savings off everyday items ranging from gas to groceries!

Credit cards with gas rewards make it possible to earn cash back on all your everyday purchases. Why not save a little extra every time you shop? If you pay your monthly bill in full, you won’t even be charged interest and those rewards are yours to keep!

For more great credit card picks, check out these best student credit cards, 0% balance transfer credit cards and best secured credit cards.

This is a post from The Smarter Wallet.

Top Gas Credit Cards With Great Benefits

Here’s the latest on the euro vs dollar situation. I still remember the time when the euro was quite strong and everyone was complaining about how weak the dollar was. Those days are now gone and the question we now face is this: just how far can the weak euro go?

So what do you think, is it possible for the euro to equal the dollar at some point? Given just how shaky the European economies have been (e.g. the Greek debt problem and all the European countries virtually going broke while lending money to each other), we’re now witness to this latest irony: who knew that there’d be a time when we’d recognize the U.S. as the pillar of strength among the Western economies. Who knew?

Seems like the financial crisis all over again, except it’s happening in Europe, and we’re seeing the consequences reflected in their currency. The difference between our situation in the U.S. and what’s going on in Europe is that we’re able to print more currency if push comes to shove (even at the risk of facing inflation). Unfortunately, the euro may not have the same kind of flexibility as the dollar since there are 16 European nations that are tied to the euro currency.

So check out this INO.com video that discusses the behavior of these currencies. As the video unfolds, it goes through the historical EURUSD chart, which tracks the behavior of the Euro vs Dollar, showing this index’s high at the beginning of the year. During that time, the euro was much stronger against the dollar, and that peak can be attributed to the negative economic climate we were then seeing in the U.S. with housing prices down, the concerns surrounding financial bailouts and the high unemployment rate. Isn’t it ironic that the U.S. is now recognized as the healthier economy? Not that much has changed since then, but everything is always relative, and it just so happens that the environment elsewhere is in worse shape than how things are over here, at least for now.

If you want to see more, check out the INO.com video here.

This is a post from The Smarter Wallet.

How Low Can The Weak Euro Go?

One effect of the economic recession? We want to save more money. And one area to evaluate for savings is in the area of insurance. After all, car insurance costs can be a huge expenditure in our budgets. That is why it is essential for us to make sure we are getting the best coverage for our dollars. Here are five great strategies that I have used to lower my auto insurance premiums and get the best value out of my driving dollars.

Reduce Car Insurance Prices & Costs With These Tips

1. Compare prices and speak to someone in person. It is essential that you know what all the other insurance companies are offering as far as auto insurance quotes. If you have had a policy with the same place for years, go online and do research on some of the top competitors. Most auto insurance companies offer easy quotes online. I suggest checking Geico, Progressive, Stare Farm, and Allstate and any other big name company with a good reputation. Here’s a list of web sites that can offer you additional leads:

Auto Insurance Sites

From these resources, gather your quotes, and if you find that your current insurance premiums are higher, then call your agent and discuss your findings. Inform the agent that you are trying to cut costs in these tough economic times and will be forced to switch agencies if the premiums are not lowered. They will want to keep you. Believe me! I got the best policy (price-wise) with Allstate, using this strategy.

2. Combine policies. If you currently pay for homeowners insurance or renter’s insurance, then you’ll want to combine this policy with your auto insurance policy. Most insurance companies offer a multiple policy discount if you have more than one insurance policy with them. This is another discount that I received with my Allstate policy.

3. Make sure you get all the discounts for which you qualify. Every insurance company has discounts that are offered. The trick is to make sure that you address every one that you qualify for on your plan. This is where “calling the agent and informing them of a cheaper policy” comes into play. They will come up with every discount in the book to get your policy lower and keep you as a customer.

Here are the ones listed on my policy: multiple policies, good payer, antilock brakes, premier plus, and passive restraint (air bags). You may also qualify for other discounts if you are a member of a business organization or a member of the military. Geico.com has a drop down box on their quote page asking if you are a member of specific organizations. Use this tool to compare the discounts from other companies with those of your current insurance company.

4. Find out if you qualify for a discount on your car insurance policy if you work from home. Do you work from home? Then your car can be designated as being used “for leisure”. I actually work from home; therefore, my car is considered a car for leisure. This qualifies me for more discounts on my auto insurance policy. Basically, if your car qualifies as being used for leisure, it is being used less, which cuts down on your accident risk. If you work from home, then call your insurance company and inquire about this discount.

5. Increase your deductible if you have emergency savings already in place. If you have already saved up a substantial amount of money in your cash and savings accounts, then you could consider increasing your deductible. Given that you have a backup savings fund to cover possible mishaps, you can afford to raise your deductible (and take some additional risks). Sure, you’ll increase the amount of money you’ll have to pay out of pocket before the insurance coverage kicks in, but the higher deductible can save you a substantial amount of money on your monthly premiums. And that, my friends, is money in the bank.

This is a post from The Smarter Wallet.

Reduce Car Insurance Prices & Costs With These Tips

What’s the very first “consideration” that consumers have in mind when choosing a bank? Often, it’s the question: is it safe?

But what does this particular question mean? Do I think that my bank would embezzle my money? Give it away to terrorists? God forbid, go under? In reality though, it’s about taking a gander at the bank’s financial well being and determining whether or not the bank is stable enough to handle my deposit.

Okay, so if I’d like to check up on the health of my bank or determine whether my online savings accounts are safe, where should I start? One place to start looking is a site like Bankrate.com. That is, if you are feeling good about taking someone else’s word for the stability of a company. In this day and age, we’ve found out the hard way that what we are being told, especially by representatives of the financial sector (even those who are paid to be unbiased or have third party opinions), may not be a very accurate description of the truth. So, then what?

Check Financial Statements

I could take a look at the bank’s financial statements. Everything I ever want to know about my bank’s financial condition is right there, in black and white, for the entire world to see, tucked away neatly in the annals of the SEC’s (the security exchange and commission) website. That’s right. Every publicly traded company must file annual and quarterly financial statements including profit and loss statements, income statements, and balance sheets with the SEC, which are then made public. But then again, have you actually ever seen one of these things? The accounting folks don’t get paid nearly enough for understanding what all that gibberish means. Those statements might as well be written in Latin for all the sense they make to me.

Look Into Ratings Services

Okay, so what else can you do? You could check with a trusted business rating site like Moody’s or FreeEdgar. These guys give you a rundown, mostly in layman’s terms, on what the bank is up to and how they have been handling their business…and all for free. This is actually a pretty good way to find out some intelligence on any company you might wish to do business with, so long as there is a recent review in the system. Here’s more on the subject of checking your financial company’s ratings in this article on how to manage risk.

Make Sure There Is FDIC Insurance

But then I started seeing the bigger picture here. As bad as things have been with the financial sector, with so many banks that have failed over the past five years, the number of people who actually experienced a loss when it came to deposits is extremely minimal. Why? Because in most cases, your deposit is federally insured by the FDIC. Before the financial meltdown, the FDIC insured your deposits against bank failure, robbery, etc. up to $100,000 at any one institution. Since the meltdown, that amount has been increased to $250,000. That means that the money in your account will be replaced if your bank fails. So are you FDIC insured?

Now you may wonder: doesn’t this make looking into the financial stability of a bank a moot point? In a way, yes. The major factors you should take into consideration when choosing a bank should have a lot more to do with how they plan to manage your patronage by offering free accounts, lower interest rates, etc. than with the financial stability of the bank. For instance, here’s how to compare online banks for your savings needs. Here are some online banks on solid footing:

In fact, gaining and keeping customers directly impacts the financial stability of the bank. These factors, coupled with the “Insured by the FDIC” brand, should be all the guarantee you need to make your first deposit.

Of course, I’m not suggesting that you blindly begin trusting any bank that displays the FDIC sign. You should know who you are doing business with. I’m merely suggesting that with the FDIC designation, the homework you perform may become a little less cumbersome.

This is a post from The Smarter Wallet.

Is Your Bank Safe? Check Bank Ratings

When it comes to online stock and options trading, there are plenty of choices out there. Ideally, we want a site that offers a good selection of tools as well as a reasonable fee structure. Today, I’ll take a look at tradeMONSTER, which is considered a cheap discount broker with a good reputation.

TradeMonster Review: Cheap Discount Broker For Your Investments

Instead of letting investors set and forget their trades for stocks and options, tradeMONSTER prefers to help you by recommending a more proactive approach. This approach is called tradeCYCLE, and it involves a series of steps to guide you into making better investment decisions. Some of these steps include using research tools, developing trade strategies, and testing your strategies. You’ll also find assistance with executing your trades, making an exit plan to minimize losses, and using the AdjustTrade tool to make the most out of your trades.

Since TradeMonster runs on an online platform, you don’t have to worry about downloading any software. Plus, you’ll be able to access your account from any computer with an Internet connection. You can customize the trading platform to show the data you prefer; it’ll remember your settings when you exit. Making trades can be as easy as selecting a stock and placing your order, and you can fine tune your strategy practically anytime you like.

TradeMonster’s Pricing Structure

The price structure at tradeMONSTER seems fairly straightforward: they claim to have no hidden fees. For stocks, you’ll pay $7.50 per trade. Options are $.50 per contract, with a minimum of $12.50 for single leg orders. For multi-leg orders, you’ll pay $.50 per contract, with a $7.50 minimum per leg.

For mutual funds, you’ll pay $15.00 per trade for purchases. It’s free to sell, though. Municipal, corporate, agency, and Treasury bonds are $15.00 per trade.

You can open an individual or joint account online. The company also offers custodial and trust accounts, corporate accounts, and no annual fee IRAs. To open an account, you’ll need to commit a minimum of $2,000 in cash and/or securities. Be prepared to disclose your date of birth, Social Security Number, and driver’s license number so your identity can be verified.

Get the Information You Need Quickly

You’ll be able to stay up to date with free real-time streaming quotes and charts. Want to check up on a particular company? Enter a stock symbol to see a report card that lists what the company does, its price to earnings ratio, its earnings track record and other details. You can also get detailed information from the portfolio analysis tool.

Besides stocks and options, tradeMONSTER offers bonds, mutual funds and ETFs. You can stick to one type of trade or go for a mixture for a diverse portfolio, depending on your preferences.

One feature I found interesting is the Twitter integration. If you want, you can tweet your trades or read other traders’ tweets. BlackBerry, iPhone, and iPod Touch users can also download apps to manage their tradeMONSTER accounts.

Investor Education and Practice

For those of you who’d like more information about online stock trading or strategies, there’s a Trading Education section. It includes articles on the basics of trading, video tutorials on trading strategies, webinars and events and a glossary. Using these resources, you can learn more about options Greeks, buying calls, covered calls, diversifying, and other topics. If you’re a novice to stocks and options, you’ll definitely want to arm yourself with as much information as you can before becoming an active trader.

In addition, there’s paperTRADE, a virtual stock trading system. If you have had limited experience with trading in the past, this tool can help you learn the basics before you commit your own money. It’s possible for you to virtually trade stocks and work with various options spreads using real data from the market. There’s even a reset button if you want to start over and you can practice after the market closes.

If you’re on the hunt for a new platform for stocks and/or options trading and you like actively managing your portfolio, then consider tradeMONSTER. It might be worth it to compare it to several other sites to see if you prefer its trading tools and pricing. Here’s where you can check out more online stock brokers.

This is a post from The Smarter Wallet.

TradeMonster Review: Cheap Discount Broker For Your Investments