Todd's Tip of the Day!

Know the FDCPA in order to save yourself from harassment by debt collectors.

The job of the debt collectors is to collect money from the consumers. They can do anything to do their job. They can bully you to get their job done. However, this does mean that you'll have to put up with their illegal tactics. You can go through the FDCPA (Fair Debt Collection Practices Act) laws to know about the collection laws. The debt collectors are required to follow these laws while collecting money from the consumers. If you find that the collectors are intentionally or unintentionally breaking the laws, then all you need to do is report the matter to the FTC.

Highlights for Your Safe Money Show Saturday September 7!

Make plans to be by your radio for this Saturday's (9-7) Your Safe Money Show. The markets on average this year are up but recent developments in Syria are causing concern. I have ways for you to save on some of your monthly bills and since were living longer I look at suggestions on saving for the long term. Tune in Saturday at 7:30 a.m. at BOBFM 106.1, HOPEFM 95.9, WQPM 1300AM, and at 8:30a.m.at KASM 1150AM. Hear the show podcast at www.yoursafemoneyshow.com. Most recent shows are at the bottom of the podcast page.

Todd's tip of the Day!

Common sense money help/tips:
Agree with your partner that you won't spend more than a specific amount without consulting each other, it's not about permission. It's about slowing down.
Show kids how to save by giving them a food allowance next time you eat out. Let them keep what they don't spend.
Institute a mandatory 24-hour waiting period before pulling the trigger on big ticket purchases. A "gotta have" item can become a "glad I didn't" near miss.
Study your monthly bills- cable, credit card, phone. You'll be horrified by the amount you're spending on features you don't use.

Todd's Tip of the Day!

 Never reveal your financial details to anyone over phone

You should never reveal financial details to anyone over phone. This is because scammers often call the consumers and make lucrative loan offers. They call the consumers and offer loans at low interest rates. They ask the consumers to reveal their financial details over phone for loan application. Most of the consumers are not able to resist this temptation. They reveal their personal details over phone and get into money troubles later. The scammers use the financial details to drain out money from the consumers' bank accounts. There have been instances where consumers have become bankrupt due to this serious financial mistake. Make sure you are not one of them.

Newsletter for September/October!

Be sure to check out the newest newsletter on the "financial materials" page.

How to Negotiate Hospital Bills and Avoid Medical Bankruptcy.

Your Safe Money Show borrowed from this article for the discussion on the August 31st show. See what you think.

http://money.usnews.com/money/blogs/my-money/2013/08/19/how-to-negotiate-hospital-bills-and-avoid-medical-bankruptcy?src=usn_fb

Todd's Tip of the Day!

Learn to say 'no' to the payday loan lenders. Resist your temptation for fast cash.

When you're in urgent need of money, you might be tempted to get fast cash. After all, who would agree to give you money without checking your credit report and score. You can get a small amount of money from the payday loan lenders within a very short period of time. However, you'll have to pay a heavy interest for that loan. In fact, you may have to pay as much as 500 percent interest on the loan. This would drain your funds in the long run.

There is yet another problem associated with cash advance loans. The problem is that not all the payday loan lenders are legal in your state. The illegal lenders are notorious for harassing borrowers. If you take out a loan from an illegal lender, then you'll just invite fresh troubles at your home.