One of the best rewards programs is the one offered by Shoppers Drug Mart. You don't need a credit card to sign up and take advantage of this great program. Shoppers Drug Mart routinely provides opportunities to earn extra points, and the redemption is generous when you use your points to get discounts at any Shoppers Drug Mart.

Right now, Shoppers Drug Mart is offering some great opportunities to earn Shoppers Optimum Points:

February 4 to March 2: Enter to Win 3 Million Shoppers Optimum Points

The first opportunity is to win 3 million Shoppers Optimum Points. You only need to spend at least $10 at Shoppers Drug Mart. Then, you pick up your contest card from the cashier. Go home, and enter your contest card PIN online at the Shoppers web site. You'll be registered to win 3 million Shoppers Optimum Points to use at Shoppers Drug Mart.

February 4 to February 10: Get 20x the Shoppers Optimum Points

If you have been planning to buy fragrances or cosmetics -- or just want to stock up -- now is a great time to do so. Right now, and until February 10, when you spend $75 or more on cosmetics or fragrances you will receive 20x the Shoppers Optimum points. This can be a good way to rack up a few extra points for redemption later on.

As always, make sure that you read the terms and conditions of these two offers so you understand exactly what is required to qualify for your extra points, or for the contest. You don't have to have any sort of a credit card in order to qualify for these great offers. You can also find a number of other great offers on the Shoppers Drug Mart web site.

If you are looking for ways to get free stuff, and be rewarded for your shopping behaviors, consider making purchases with a rewards credit card. Pay for your Shoppers Drug Mart purchases with a rewards card, and then you get your Shoppers Optimum points as well as the points for your credit card program. It's a great way to maximize your opportunities.

We've all seen the devastating effects of the housing market bubble on the US economy. And, for years, we in Canada have kind of looked down on the United States for the loose lending standards and high level of household debt.

However, Canadians may not have much to crow about soon. Canadians have surpassed Americans in household debt, and there might be a mortgage bubble growing as well.

Are Canadians Borrowing Too Much?

The current global climate has prompted a low-rate environment that encourages borrowing, and Canadians have been taking advantage. The Economist reports on the low rates and the increase in borrowing in Canada:

In response to America’s slow economic recovery and uncertainty in Europe, the Bank of Canada has kept interest rates at record lows. Five-year fixed-rate mortgages now charge interest of just 2.99%. In response, Canadians have sought ever-bigger loans for ever-costlier homes. The country’s house prices have doubled since 2002.

All of this home buying has prompted a rapid growth in home prices. And, as a result, speculators are becoming a regular part of the market. With home prices rising so rapidly, at some point there could be an end to the growth. Indeed, some worry that the real estate market is in a bubble, and that it could burst soon -- leaving Canadians overburdened with under water mortgages and high household debt.

The concern is that Canadians have been borrowing too much, and there could be a reckoning for all of that debt. The Canadian economy has increasingly become dependent on consumers for its growth. One of the real fears is that the global economy could slow down again, and that the burgeoning economic recovery in the U.S. could go off track. As long as Canada retains its strong exports, the economy should be able to offset some of the effects of a housing bubble. However, if a global economic slowdown occurs again, Canadians might find themselves in an even worse position as household debt climbs.

What Should You Do?

Instead of being a statistic related to climbing household debt, it's best to do what you can to shore up your finances. Prepare for the future by paying down debt, building your emergency fund, and even trying to increase your income if you can. Diversify your investments and get ready for what might be next for the economy -- and it's effect on your finances.

In the end, using the best Canadian credit cards isn't a bad thing. However, you do need to be careful. Live within your means and pay off your credit card balance each month. You will be able to take advantage of the convenience and perks, without paying the interest, and without becoming indebted.

Image source: Mila Zinkova

Even though Canada's economy didn't suffer the same level of setback from the 2008 financial crisis as our neighbour to the south, there are still indications that things are far from perfect in Canada. The difficulties that might be coming to the economy in the future, as well as the prospect of not having enough of your own resources to weather a setback, should cause you to reflect, and consider planning for your future.

Economic Contraction and Old Age Security

We've been seeing some economic contraction in Canada recently. Unemployment has gone up recently, and the latest numbers show that the GDP dropped in the last quarter of 2011. These aren't huge changes; Canada isn't heading into a U.S.-style recession yet. However, these indicators do provide some food for thought. Maybe it's time for you to take a look at your finances and make some changes -- before you are forced to.

Not too long ago, Canadian household debt surpassed U.S. household debt. That's a very sobering statistic at a time when Canada's economy is flagging a bit. Instead of adding to your debt, it is important to carefully consider your spending and saving habits, and do what you can to pay down your debt. Additionally, it's a good time to be setting money aside, since you never know what the future holds.

In fact, the future may not be so rosy when you reach old age. There are some doubts about the Old Age Security program, and by the time you get to the point where you need this program, you could find yourself without the benefits you expected. Now is the time to build your resources so that you are relying less on external forces. Contribute to your RRSP, and take other steps to save for the future while living within your means right now. This is important because you do not know what will happen in the future.

Control Your Own Financial Destiny

There is too much that can go wrong when you rely on others for your financial well-being. Whether you are relying on someone else to keep you employed at a company, or whether you expect Old Age Security to prop you up in retirement, you are taking a big risk. You don't know when you will be fired, and it's impossible to tell what economic issues might affect Canada in the future.

You can control your own financial destiny by preparing for the future. Consider starting a side business so that your income isn't  totally dependent on someone else. Also, live well within your means and set money aside for the future, and prepare for other possibilities. You need to seize control of your finances, and be ready for whatever happens next.

Image source: Stripey the crab via Wikimedia Commons

Credit card balance transfers are commonplace these days, with most credit card holders using them at some point because they can be such a valuable tool if you know how to use them correctly. If you use balance transfers properly, you can take advantage of the low interest rates that are being offered by credit card companies to get out of debt. If you want to make a balance transfer work for you, there are a few tips you'll need to keep in mind.

Find a 0% Introductory Offer

When you want to do a balance transfer, look for credit cards that offer 0% introductory offers. While many credit cards offer very low introductory interest rates like 1 or 2%, finding one with a 0% interest rate is entirely possible. While 1 or 2% is definitely a low interest rate for a credit card, it can still add up if you have a big balance. Don't settle for anything but a 0% introductory interest rate when doing a balance transfer. This means that you can essentially park your credit card balance on the new credit card without paying any money in interest for the entire introductory period.

Look for Long Lasting Introductory Periods

When you are evaluating 0% interest credit card offers, make sure that you choose one that has a longer introductory period. 0% offers are not necessarily created equally. Some credit cards give you 0% interest for only the first six months while others will give you as much as two years of interest-free balance transfers. In this situation, you should look for offers of 18 months or more. This way, you can maximize the amount of time that you have before you have to start paying interest or looking for another balance transfer to work with.

Watch Out for Fees

Typically, credit cards charge you a fee based on the total amount of money that you are transferring to the new card. Figuring out how to minimize this fee is important if you want to come out ahead on the deal. When shopping around the between multiple credit card offers, read the fine print and see how much they will charge you for this service. Otherwise, you might end up throwing away a large amount of money.

Only Transfer When Necessary

If you're considering doing a balance transfer, you need to minimize the number of times that you have to transfer because of the fees involved. If you are constantly transferring balances from one car to another, you could wind up actually losing money on the transaction fees. It's also possible that when dealing with multiple cards and terms, you may forget when the introductory interest rate expires. Also, when you have multiple cards to manage it's easier to forget to make a payment to a card. Typically, when you miss a payment, the introductory interest rate reverts back to the full interest rate. This could negate the entire point of transferring your balance in the first place. The best thing to do is to consolidate all your credit card debt onto one single 0% balance transfer card.

Pay Down the Debt

The primary purpose of transferring debt to a 0% interest credit card is to save money on interest so you can get out of debt faster. If you keep putting off paying the debt, the balance transfer will be for nothing. Do everything you can to pay down the debt as quickly as possible once it is on the card. Hopefully when the introductory interest rate expires, you may not have much left to pay interest on.

Dave writes about balance transfer credit cards at CreditCardHelp.com.au, an Australian credit card website.

Image source: sxc.hu

Right now, it can be difficult to find the financing you need for your business. Many banks are reluctant to help a small business with a loan. It represents a chance that the business is taking. What if your business tanks and you default?

Even if you have a good idea, it might be hard to find financing. One way you can improve your chances is try P2P lending, or some sort of crowdsourcing. You can usually get reasonable interest rates, plus you might be able to find someone willing to take a chance on you.

What is P2P Lending?

P2P lending is when you get money from someone else -- "regular" folks like yourself. You can use a site like Prosper or Lending Club to look for loans. People can lend you money, in increments as little as $25. This allows you to get the funding you need, with lots of small loans adding up.

However, most people on P2P lending sites aren't going to just lend you money. You have to convince them that your business is worth it. Some of the ways that you can increase the chances that you will find lenders include:

• Share a business plan: Lay out your business plan, and you will have more luck. Lenders want to see that you have thought things though.
• Share your story: You don't need to go into great detail, but sharing your story, at least a little of it, can be helpful to your cause. Add a little humanity, and share what you hope will happen with your business.
• Let them know what you've already done: If you have skin in the game, let potential lenders know. Share information about what you have already done in terms of your own investment, as well as other information about how far along you are.

You want to show that you are a risk that is likely to pay off. Then you will be more likely to get the financing you need for your business.

Crowdsourcing

Another option is to consider a crowdsourcing site. Kickstarter is a great option, since it allows you to raise money for your business idea. Most of the ventures on Kickstarter are more creative, so keep that in mind. Crowdsourcing provides you a way to earn money, and you provide something for those who provide funding. You can offer free products, ownership in the company, or some other perk. You don't usually have to pay back the money, since it's not a loan, but you do need to provide something to encourage people to fund your business. There are other crowdsourcing sites that you can visit, depending on the type of business you are starting.

Credit Cards

You can also fall back on credit card financing. There are business credit cards aimed at helping small businesses pay for what they need. You have to be prepared to pay higher interest rates, though. A business credit card can help you bridge the gap while you wait for other funding, and you can also use it to build business credit.

Carefully consider your financing options when trying to start or expand your business. Chances are that you will need to combine a number of options in order to ensure that you get the money you need.

If you are looking for a rewards credit card, you have two options when you consider the Priority Club World MasterCard from Capital One and the Priority Club Platinum MasterCard. Both of these cards require that you have at least good credit to qualify. Depending on which card you apply for, there are different benefits. Here is a run down of the two cards:

Priority Club Platinum MasterCard from Capital One

This card requires that you have good credit in order to qualify for the Priority Club Platinum MasterCard. There is an annual interest rate of 19.80%, and no annual fee. This is a great basic rewards card, offering a fairly standard rewards program:

• 2 points for each dollar spent on hotels within the Priority Club Rewards Family of Brands.
• 1 point for each dollar spent on other purchases.
• 5,000 bonus points if you use the card to spend at least $10,000 a year.

It is also worth noting that when you make your first purchase, you will receive 15,000 bonus points. That's a great way to get started. If you travel frequently, you can earn free stays, and this card can be quite valuable. However, the high interest rate means that you are better off if you pay off the balance each month.

Priority Club World MasterCard From Capital One

If you have excellent credit, than you might be able to qualify for the Priority Club World MasterCard from Capital One. This card has a more generous rewards program than the Priority Platinum card. However, you will have to pay an annual fee of $120. Here is how the rewards program works:

• 5 points for each dollar spent on Priority brand family hotels.
• 2 points for every dollar spent on other net purchases.
• 5,000 bonus points for each $10,000 you spend. There is no limit on how many bonus points you can earn in a year.
• Comes with trip cancellation insurance and emergency medical insurance.

After your first purchase, you receive 30,000 bonus points. This is a great help for the frequent traveler. Indeed, if you travel frequently, and use the Priority Club World MasterCard for a variety of purchases, you can add up the reward points quickly, saving money and redeeming your points. With the right strategy, you can even easily offset the annual fee that you pay for the credit card.

However, you do need to be careful; with a 19.80% interest rate, you could easily find your rewards overwhelmed by interest charges. In order to get the most out of your credit card rewards program, you need to plan ahead, make regular purchases, and pay off your card each month.

The Carnival of Financial Planning takes a long-term view of personal financial planning for individuals and families. We focus on efficient and sustainable personal financial planning practices that can lead to lifetime financial security.

This edition is arranged by subject heading, so that you can browse efficiently.

Enjoy!

The Skilled Investor, Editor

Budgeting and Economics

Echo presents How To Make A Better Personal Budget posted at Boomer & Echo, saying, "A personal budget should be about more than just figuring out if your income exceeds expenses."

Sabrina presents 5 Emergency Budget Cuts to Consider posted at Frugal Living, saying, "We would all be better off if we forced ourselves to look honestly at our spending, our credit cards and our bank accounts, and identify the things that can be cut out easily and immediately. That will buy you more time if you do lose your job or take a cut in your income, and will help you stretch the money you have. Every family is different, but the list below will give you some ideas to start with."

Paul Vachon presents Finance for Dummies - BLS Consumer Expenditure Survey posted at The Frugal Toad, saying, "The Consumer Expenditure Survey or CE, consists of two surveys, the Diary Survey and the Quarterly Interview Survey which provides information about the buying habits of the American Consumer. Survey Data is collected by the U.S. Census Bureau."

Janet Russell presents Personal Budget Software posted at Best Financial Planner, saying, "If you do not understand how much you spend and how much you are saving and investing, you simply do not have a financial plan. This situation dramatically increases your family’s long-term financial risk."

Kay Lynn presents Want to Save Money? Slow Down posted at Bucksome Boomer, saying, "Slowing down may be counter-intuitive, but it is good for our wallet and for our sanity. By slowing down, we might even be able to check things off that list even faster."

Jon Elder presents 5 Things You Should Not Go Cheap On posted at Free Money Wisdom, saying, "These are the 5 items that I happen to value and would never go too cheap on."

Will presents Control Your Spending Without Making A Budget posted at Former Banker, saying, "How to keep track of your money even if you hate making a budget"

Ashley presents Dealing with Financial Setbacks posted at Money Talks Coaching, saying, "I hate financial setbacks. They stink. No matter how well you plan Murphy likes to stick his big fat nose into things. I’m facing my own financial setback at the moment and I’m struggling with it."

Evan presents The Cost of Owning a Pet posted at Smart Wealth, saying, "Although having pets is expensive at times, it is also great, just be sure that you know what you are getting yourself into."

Financial Planning

Ken Faulkenberry presents Saving, Investing, and Gambling: The Importance of Differentiation and Compartmentalization posted at AAAMP Blog, saying, "Definitions of saving, investing, and gambling with an explanation for the need to differentiate and compartmentalize each."

Jacob @ My Personal Finance Journey presents Financial Goal Setting for the 2012 New Year posted at My Personal Finance Journey, saying, "This post highlights Jacob’s personal financial goals for 2012, based on what author David Bach calls a Purpose Focused Financial Plan. The goal of this system is to employ money in your life in a way that matches your life values and dreams."

Walter Binkle presents Fixed Income Funds posted at Fixed Income Investing, saying, "The bond investment fund market is no place for an individual investor to try to beat the market and get higher returns through attempts at clever fixed income investing. Even professional bond market money managers do not beat the bond market."

Ray @ Financial Highway presents RRSP Deadline 2012-Limits posted at Financial Highway, saying, "The RRSP season has begun! Every bank, every branch and every teller will remind you to contribute to your RRSP before the deadline. With so many people vying for your RRSP contributions, who should you trust?"

Darin Sewell presents Fixing Bad Credit While Getting Out of Debt posted at Saving Money Today, saying, "When it comes to fixing bad credit most people have no idea what they need to do or where to start the process. Many simply give up and do nothing hoping the problem will go away on its own, it rarely does. Let’s take a brief look at what is required to increase your credit score while eliminating your debt."

Larry Russell presents ID theft protection posted at Personal Financial Planning, saying, "As a threat to your financial security, you should take the potential for identity theft very seriously. Identity theft sometimes entails a loss of your money, but whether or not you lose money, it can take a very large amount of your time to rectify. Taking these steps to prevent an occurrence is prudent."

Lisa presents 4 Smart Financial Moves to Secure a Better Future posted at Thriftability, saying, "Saving money is a virtue. You can use your savings for various gainful purposes. If you are into debt troubles, or have found yourself overcome by credit card debt, you may be using your savings for debt reduction. Any way you look at it, the earlier you can start learning financial restraint, the better it is for you."

BIFS presents Risk Versus Reward | Budgeting In the Fun Stuff posted at Budgeting In the Fun Stuff, saying, "Health – like finance – is all about risk management. The road to success isn’t avoiding risk completely, nor is it throwing yourself headfirst towards the potential reward without consideration of the risks."

Sunil presents Emergency Fund Fundamentals, Benefits & Unconventional Uses posted at The Extra Money Blog, saying, "Having more than one income stream significantly mitigates unforeseen financial catastrophe. The more the income streams, the less critical it becomes to establish a rainy day fund, especially a large one that ties up a significant enough amount."

N.W. Journey presents Six Steps to Managing Your Money Better posted at Networth Journey, saying, "Important steps for better money management."

Super Saver presents Parenthood and Poverty posted at My Wealth Builder, saying, "I expected married parent households to be better off financially, but I didn't expect the differences to be as large as the data shows."

Frank Bertin presents Index Funds posted at Best Investment Strategies, saying, "Short-term mutual fund trading is a zero sum game played against other very well informed mutual fund traders and other securities market traders. On average, higher mutual fund turnover is far more likely to result in lower investment fund performance — instead of superior risk-adjusted performance."

D.J. presents Start Early - How to Encourage Kids to be Savers posted at The Family Wallet, saying, "So how do you encourage kids to be savers? The best way to teach kids how to save is to teach them that buying brand name items is not necessary when store brand names or cheap name brands are just as nice and “in” as they would say."

Young And Thrifty presents Quicken Home and Business 2012 Review posted at YoungAndThrifty, saying, "It almost seems that any Personal Finance Blogger isn’t really a personal finance blogger if they don’t use some sort of snazzy personal finance software like Quicken to track their spending, their budgets, and their investments all in one place."

Kevin presents Claim Your Unclaimed Property posted at Thousandaire, saying, "Check to see if you have unclaimed property free money waiting for you. Just search at your state's website and you might have something!"

Financing a Home

Kyle presents 4 Reasons You Should Not Invest in Real Estate Right Now posted at The Penny Hoarder, saying, "A few weeks ago we shared with you some reasons why this might be a good time to invest in real estate and this week we wanted to present the other side of the argument. Here are four good reasons not to buy real estate right now."

Chelsea Prescotti presents Mortgage Lenders Hunt Home Owners Even After Foreclosure posted at CreditScore.net, saying, "No one ever buys a home with the intention of one day losing it to foreclosure or being forced by circumstance into a short sale. Unfortunately, that is exactly the situation in which many homeowners find themselves. Financial struggles push thousands of homeowners into short sale or foreclosure every year. When the housing market collapsed in 2008-09, many found themselves upside-down in their mortgage and opted to simply walk away, leaving the bank to foreclose on the property and sell it for whatever a buyer would pay."

Miss T. presents Buying a Home with the Help of Mortgage Insurance posted at Prairie Eco Thrifter, saying, "It’s a positive thing to buy a house and make it the home you always dreamed of. It’s something everyone should experience. But it’s important to make it happen within your means. Sometimes mortgage insurance is the only way homeownership will ever be possible."

Financing Education

krantcents presents How Students with NO Credit History, Can Begin to Build a Financial Record posted at KrantCents, saying, "Here are 3 ways to allow young adults to safely build credit without the risk of going into debt."

Financing Healthcare

Emily presents Less Expensive Nursing Home Alternative: Full Circle America posted at PT Money Personal Finance, saying, "Discusses the grassroots organization, Full Circle America, and the alternatives it provides to traditional (and expensive) nursing home care for the elderly."

Income

Kelly presents 5 Ways to Boost Your Income Online posted at Wallet Watcher, saying, "The following is a list of the five best ways to help you boost your income from the Internet and reach your working goals."

Penny presents Writing a Resume posted at Penny Pinching Professional, saying, "Your resume is an important part of finding a good job so you can make money. Do you know the most important information to include in your resume?"

Shaun presents Lottery Winner Loses Everything in Four Years: Smart Approaches for Families with Income Windfalls posted at Smart Family Finance, saying, "Lottery winners are famous for winning fortunes and then losing them. That is because it is easy to make financial mistakes when families run into income windfalls. However, there are a few approaches to help you to make smart decisions and minimize the risks of losing everything."

Jester presents A Side Income posted at The Ultimate Juggle, saying, "Finding a side income can go a long ways to meet your financial needs. Find out how to manage your time and make it happen."

PITR presents Generate passive income - How to do it posted at Passive Income To Retire, saying, "If you want to generate passive income, you need to know the two ways that people establish a passive income."

The Financial Blogger presents 2012 Blogging Goals The Pass or Fail Ultimate Test posted at The Financial Blogger, saying, "Plans to make a killing in 2012."

Writers Coin presents Doing It for the Money…Would You? posted at The Writer's Coin, saying, "Would you take a job at Taco Bell for the next ten years in exchange for tripling your salary? You'll be surprised at what some people think..."

Sustainable PF presents How to Spot a Work from Home Scam posted at Sustainable Personal Finance, saying, "Before you sign up for a great work from home “opportunity,” consider these signs that it might be a work from home scam."

Investing

Kanwal Sarai presents Investment Vs. Speculation posted at Simply Investing, saying, "When considering a stock for purchase, don’t think of it as a piece of paper (a stock certificate), think of it as buying ownership in a company. If you had the money would you buy the entire company? If not, then reconsider why you are buy shares in this company."

Barbara Friedberg presents Reader Question; How to Choose Mutual Funds posted at Barbara Friedberg Personal Finance, saying, "Investing does not need to be difficult. Learn how to choose a few funds for a well diversified portfolio."

Janet Russell presents Fund manager performance posted at Personal Investment Management, saying, "The effort to find those few supposedly superior money managers willing to sell their services sufficiently cheaply is a costly, time consuming, and futile, “Where’s Waldo?,” searching exercise for the individual investor."

Money Cone presents 10 ETFs Cheaper than Their Vanguard Peers posted at Money Cone, saying, "Here’s a list of the ten, commonly used ETFs that have an expense ratio lower than that of Vanguard’s."

Finley Merriwether presents Best Bond Mutual Funds posted at Low Cost Bond Funds, saying, "Vanguard dominates this low cost United States bond mutual funds marketplace for direct purchase accounts with both low and high minimum deposits. Investment research overwhelmingly shows that lower cost fixed income funds tend to yield higher bond investing returns."

A Blinkin presents CD's are for Hypocrites posted at Funancials, saying, "I would venture to say that there are two investment products people learn about before any others Stocks and CDs Certificates of Deposit. Assuming most people learn about these two options when theyre young, I would think the way they were explained was elementary. Something like stocks are risky CDs are risk-free. But are they remembering inflation?"

Jack Ping presents Top No Load Mutual Funds posted at My Investment Funds, saying, "There are over 60,000 different mutual fund investment share classes sold worldwide. Some mutual funds and ETFs must be better than others, but which ones are they? How can you tell before the fact?"

Beating Broke presents Lending Club Returns Update posted at Beating Broke, saying, "I can afford to get a bit risky with the money in my Lending Club account. So far, it’s been anything but risky, however. Let’s take a look at what my lending club account has done."

Dividends4Life presents 7 Stocks Enticing Investors With Higher Dividends posted at Dividend Growth Stocks, saying, "The goals of an income portfolio are much different than those of a capital appreciation portfolio. The good news is an income portfolio consisting of quality dividend growth stocks can not only succeed, but excel during a market downturn."

Cash Flow Mantra presents Selling Covered Calls and Time Value posted at Cash Flow Mantra, saying, "I had a reader question last week about selling covered calls so I wanted to take the opportunity to offer up some practical tips regarding selling call options."

Managing Credit and Debt

John presents When Being Gazelle Intense, Take Time to Regroup posted at Passive Family Income, saying, "If you are aggressively paying down debt, take the time to recoup occasionally. Here are some tips to remember for avoiding gazelle intensity burnout:"

Jeffrey presents Debt Snowball: 5 Options posted at Saving Advice, saying, "For anyone trying to get out of debt, the debt snowball method has become the choice of many to tackle their debt. This shouldn’t be a surprise as it is a straightforward and easy to follow method that works. While the basics are the same, there are a variety of different debt snowball approaches that people follow."

YFS presents 4 Tips to Improve Credit Even After A Bankruptcy posted at Your Finances Simplified, saying, "A bankruptcy can be a financial event which wrecks credit and hurts a consumers ability to qualify for loans. Its effects can be felt for years afterwards, as it appears on a credit report for 7-10 years depending on what type of BK you file for."

Darwin presents US Debt Now Equivalent to Entire US Economy - Investing in This New Era posted at Darwin's Money, saying, "The United States has just reached the dreaded 100Deb-to-GDP ratio with its $15.2 Trillion debt level surpassing the value of all goods and services produced in-country. This is important because it vaults us into a whole new echelon of debt-ridden societies with financial crises of their own: only Greece, Iceland, Ireland, Italy, Japan and Portugal have debt-to-GDP ratios exceeding 100 This is scary stuff folks!"

Corey presents Why Financing a Car Can be a Bad Idea posted at 20s Finances, saying, "If you are looking to get a car and you don't have enough money saved to purchase the car outright, you may be tempted to get a car loan so that you don't have to wait. But is this really the best route to take?"

Eddie presents Million Dollar Question: Should I Use My Savings To Pay Down Debt or Fund My Retirement Plan? posted at Finance Fox, saying, "Mortgage vs RRSP. TFSA vs Student Loan. Credit Card Debt vs RRSP. TFSA vs Mortgage. RRSP vs Car Payment. Lots of different situations, some of us are in one of these and others may have two or more different forms of debt to pay down."

Marie presents Debt Free - Stress Free posted at Money Spending Mommy, saying, "When times are tough, it can be difficult to make payments on the things we need. And when we run up a lot of debt for unnecessary things, it can get out of control in a hurry."

Matt presents Handling Business Criticism; Suze Orman's Approved Card posted at Financial Excellence, saying, "A summary of my thoughts about Suze’s card? There aren’t any real benefits, and it costs you a monthly fee to have no added benefit. But there’s a lot of discussion on the show, so you’ll have to listen in for the specifics."

Janet presents The House That Credit Card Rewards Built [Infographic] posted at Credit, Eh, saying, "It's possible to use your credit card intelligently to reap the rewards -- and earn free stuff. Before you get too excited, though, it's important to understand that your credit card rewards are basically worthless if you carry a balance."

Charles Chua C K presents What Can We Learn From Credit Rating and Foreign Exchange Rate posted at All About Living with Life.

Jeffery Weber presents January 2012 - Report on 0% Balance Transfer Credit Cards posted at Smart Balance Transfers, saying, "Consumers seeking to reduce interest expenses will find that the average length of balance transfer offers remains above 1 year, while average fees have dropped to just over 3%, making January a prime month to evaluate balance transfer options."

Stephen Vanderpool presents Chase Slate: The Cure for the Common Debt? posted at NerdWallet, saying, "Equipped with the Chase Blueprint program, the Chase Slate claims to be one of the best in the low-interest arena. But is it really the top card to pay down your debts without being slammed with high interest? It’s a close call, but we think we have something a little better than the upstart Slate from Chase."

Miscellaneous

Mich presents NAL Energy to Underperform in 2012? posted at Beating The Index, saying, "I believe the stock will underperform in 2012 based on running 2 set of scenarios which indicate the company is not in its best shape."

LaTisha presents What is a Portfolio? posted at Financial Success for Young Adults, saying, "A portfolio is made up of assets. There are five major asset classes of intangible financial instruments; Stocks, Bonds, Options, Futures, and Foreign exchange."

Odysseas presents How Does Europe Solve its Debt Crisis? posted at Wallet Blog, saying, "Thought I’d share some thoughts about the European debt crisis this week. What options are there, and how could those options affect market volatility?"

Liana presents Card Hub’s Island Approach to Credit Card Spending posted at CardHub, saying, "Learn to use your credit cards to properly to meet your financial needs. Island-like seclusion is the way to go!"

Craig Ford presents The Blessing Journal | How to Be Thankful Even When You’re Not Feeling It posted at Money Help For Christians, saying, "A Blessings Journal is a great way to remember how much we have."

Jeri Ford presents The Mileage Combination Short Cut for Earning Your Free Trip in Record Time posted at Help Me Travel Cheap, saying, "Proper program selection may allow you to combine frequent flyer miles."

Theresa Torres presents Cancelling Old Credit Cards? Three Reasons You Should Keep Them posted at Getting Money Wise, saying, "Those old credit cards that you're planning to get rid of may still have their uses and while you may think that cancelling them is a wise move, here are some reasons that will tell you otherwise."

Super Saver presents Five Outrageous Predictions for 2012 posted at My Wealth Builder, saying, "This is the time of the year to make predictions about 2012."

Jailan Marie presents Three Phases of a Management Buyout posted at Innovative Solutions For Positive Change, saying, ", management buyouts can be very helpful to a business owner in a tough economy who is trying to construct and design a customized exit plan from their business utilizing the resources that are available to them, namely, their existing management team."

Don presents Radical Idea to Create Jobs posted at MoneySmartGuides, saying, "I have many crazy ideas. Most aren’t fit to become reality like my spray-painting lawnmower for when the summer heat turns your grass brown. But every so often, I come up with something that I feel holds merit."

Aloysa presents Live A Little: Have A Latte posted at My Broken Coin, saying, "This is a new series I am starting on this blog. It is called Live A Little, and it is not about how to save more by cutting expenses and living frugal. It is about spending, but in an intelligent way."

The Skilled Investor presents Investment Timing Does Not Work posted at Financial Management, saying, "You must have your money invested and at risk to get risk premium returns. Jumping out and in or "timing the markets" doesn't work."

Lazy Man presents Meet the New Juice Scam. Same as the Old Juice Scam posted at Lazy Man and Money, saying, "I've written enough about MonaVie over at MonaVie Scam to prove that MonaVie is a grossly overpriced product, with little nutritional value, wrapped in a poor business opportunity that appears to be an illegal pyramid scheme, which is itself wrapped in illegal medical claims, supported by nonsensical "scientific" studies, and tied to a fraudulent charity. "

Jeffrey presents Five Reasons to Give Up Goal Setting posted at Money Spruce, saying, "Should we give up goal setting to achieve more success? Goals are something everyone uses, but is it the most effective for getting things done. Here's a discussion why it might not be."

Brockton Eaton presents IRA Retirement Calculator posted at IRA Account Investing, saying, "Whether or not to make investments into “traditional” tax-advantaged employer accounts and IRAs versus investing in “Roth” tax-advantaged employer accounts and personal IRAs is never a straightforward nor simple financial planning decision."

Madison presents How to Extract Money from a Balance Transfer posted at My Dollar Plan, saying, "There are some great balance transfer options out there right now and they can be used to pay off high-interest debt or creatively finance investment properties. But how exactly do you get the cash from the offers into your bank accounts?"

KT presents Is Outsourcing Household Chores a Luxury or a Smart Money Move? posted at Personal Finance Journey, saying, "I don't like cleaning; and I make no secret of that fact. Dust can multiply for months, and I might notice that it is there, but I probably won't clean it. I do have the basics that I do every day - dishes, and general picking up. I clean the bathrooms and sweep and mop the kitchen floor, so I am not a complete slob, but I hate deep cleaning."

101 Centavos presents How NOT to Invest in Water posted at 101 Centavos, saying, "I've been reading quite a bit about water lately. Set a Google alert for water scarcity India China, and your inbox is bound to fill up with stories of water scarcity."

Suba presents Five Ways to Save Money and Get Fit at Work posted at Broke Professionals, saying, "Now that the New Year is here, we are all looking for ways to trim down the expenses and the waistlines. Here are a few ideas on how to do that before or after work or at lunch time. Use Lunch Get some exercise on your lunch break. Read this article for more ideas!"

Retirement Planning

Todd R. Tresidder presents 5 Surprising Reasons Why Retirement Calculators Can't Be Trusted posted at Financial Mentor, saying, "Retirement calculators appear simple on the surface. Hidden behind that facade is a set of dangerous assumptions that can trip up both experts and amateurs alike. Discover these little-known solutions so that you can retire with financial security."

Jon the Saver presents Why Early Retirement Is So Important to Me posted at Free Money Wisdom, saying, "Too many people are stuck in 9-to-5 jobs and can’t be a part of anything meaningful because of their life commitments. I have been in college and now graduate school for the past 7 years and I know the feeling of constantly being busy all too well. Because I don’t want to the person who can’t help with anything, I am working towards financial freedom in order to free up my time while I am still young. "

Dr. Dean presents Fitness Affects Finances: How? posted at Dr. Dean's TheMillionaireNurse.com Blog, saying, "There are more reasons than ever to take responsibility for your health and fitness. Only 1 in 7 US workers is a normal weight and not suffering from a chronic health condition. Wherever you are in your retirement planning, it’s time to take care of the only body you have to get you to retirement and beyond."

Frank Knight presents Best S&P 500 Mutual Fund posted at Best Mutual Funds, saying, "The no load index fund strategy of the Schwab S & P 500 Index Fund tracks the S and P 500 stock index. This no load index fund was listed as one of the top 25 lowest cost index mutual funds in a research study."

ETZ25 presents Starting Up A Roth IRA For Kids posted at Entertainment Timez, saying, "My son now has earned income and we are starting up a Roth IRA for him to participate in. Read why are are starting a Roth IRA for Kids!"

Whitney Broad presents Retirement Savings Calculator posted at Retirement Savings, saying, "By looking at wealth as a lifetime pattern of sustainable expenditures within one’s budget, then people who are indeed wealthy cannot be identified solely by their current assets or income. While personal wealth should measure current financial investments and other salable assets, it should also measure your ability to sustain your household budget, build up your investment portfolio, and weather potential financial risk and misfortune across your lifetime."

Wayne presents Retirement Planning for Young Families posted at Young Family Finance, saying, "Find out what the first step of retirement planning should be for young families."

Andy presents The Number One Retirement Fear posted at My Retirement Blog, saying, "According to an AARP study recently released, health care issues are the number one biggest fear retirees have. Is retirement affordable? The biggest challenge for most potential retirees is the cost of care and the ability to stay healthy through retirement. Experts claim one will need an extra $200-$300,000 to pay just for health care."

Risk Management and Insurance

Evan presents Most Readers Will hate What I Did with Part of My Bonus posted at My Journey to Millions, saying, "My initial goal was to increase my term coverage with a 20 year term policy. I ultimately decided against this for two reasons, one my available income ratio would decrease which wouldn’t be good for getting that mortgage I mentioned earlier, and two, I got blood work back the other day and it wasn’t that great."

Amanda L Grossman presents Health Insurance Companies Give Financial Incentives for Good Habits posted at Frugal Confessions, saying, "Since I discussed a 'stick' approach my health insurance company began on January 1, 2012 by charging a higher premium for smokers than for non-smokers, I'd like to take the time to discuss a 'carrot' incentive approach!"

Savings

Bob presents Ways to save money by NOT being normal posted at ChristianPF, saying, "This is a look at a bunch of different ways we can all save money by thinking outside of the box!"

Taxes

Glen Craig presents Still Want a Deduction for Tax Year 2011? It’s Not Too Late posted at Free From Broke, saying, "Even though 2011 has passed, there is still time to make some moves that will give you a tax deduction and lower your taxes in 2012. See some tips to help lower your taxes."

Hank presents Four Great Benefits Of Buying A House posted at Money Q&A, saying, "There are many great benefits of buying a house such as wealth creation, tax savings, forced savings, and others. Renting should not be your default option when there are so many great benefits of buying a house."

Paul Tabbet presents Retirement Software posted at Retirement Worksheets, saying, "Retirement planning software should automate the development of lifetime projections that incorporate tax laws and rules associated with tax-advantaged retirement investment incentive programs such as traditional IRA, Roth, 401k, 403b, SEP, Keogh, and other retirement plans. Retirement calculators hides the complexity of the tax laws that are associated with these various personal retirement plans and employer-sponsored retirement plans."

Daniel presents Tax Evasion Costs Over $300 Billion Each Year posted at Sweating the Big Stuff, saying, "Think tax evasion is a small problem? Thing again: tax evasion in the U.S. amounts to $337.3 billion a year."

Tim @ Faith and Finance presents States With No Income Tax posted at Faith and Finance, saying, "Looking to eliminate state income tax from your vocabulary? You're in luck! Seven states don't have state income tax - do you know which ones they are?"

Don presents My Son Is A Young Entrepreneur posted at Money Reasons, saying, "This is about my son's transformation in becoming a young entrepreneur. Not bad considering he is only eleven."

That concludes this edition. Submit your blog article to the next edition of Carnival of Financial Planning using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

Technorati tags: carnival of financial planning, blog carnival.

For many consumers, the current economy has had an impact on their ability to make ends meet, and some of these consumers may be struggling with high credit card interest furthering compounding their financial difficulties. The fact is, reducing credit card interest is not as difficult as it may seem if you follow a few simple suggestions and do a little research.

1. Gather Copies of Credit Card Statements

Before attempting to lower credit card interest rates, you must first know what interest you are paying. Gather all credit card statements to learn exactly what your current rate is. If you get your statements online, go to the online statement site and print them out in order to determine the interest rates you are paying.

2. Research Rates Being Offered to New Customers

Visit the website for your card issuer to see what introductory rates are being offered to new customers. You can also check your “junk mail” file to see if you have been offered any credit cards with low or no-interest recently that you can use as leverage when speaking to the credit card company.

3. Compare the Rate You Paying with National Credit Card Averages

Many online resources such as Bankrate offer consumers information regarding what the national credit card averages are. Use these resources to determine if the interest you are paying is similar to that being paid nationally.

4. Check Your Credit Score

When you call the credit card company, they will check your credit score before offering any type of interest reduction. For this reason, knowing your score before calling will give you a better idea of whether you qualify for a lower rate and could be used when discussing the lower rate with the card issuer.

5. Call the Credit Card Issuer

The most important thing to remember when calling the credit card company is to stay calm, even if they are not cooperative. In addition, the first person who answers the phone may not be authorized to lower your interest rate. At most credit card companies, only supervisors have the authority to offer lower interest rates. Ask as soon as someone answers the phone if they are authorized to do so, and if they are not, request to speak to someone who is.

6. Request a Low Number Initially

Although you will probably not be successful, start with a low interest rate initially, using the information obtained from the national average research you did earlier. In addition, mention any low or no-interest offers for new customers, pointing out that you have been a customer for some time and feel you should be offered the same benefits as new customers.

7. If Your Request is Refused, Switch Providers

If your credit card company refuses to lower your rates, obtaining a card with a lower rate from another institution can be financially beneficial. Transfer the balance on the card with the higher rate, but continue to pay the higher payment if possible in an effort to pay down the balance more quickly and save interest.

If you are struggling with credit card debt and have fallen behind, you may want to discuss restructuring plans offered by the credit card company for those experiencing financial difficulty. The risk in doing this is that some card issuers may report this information to credit bureaus, resulting in a lowered credit score, but not all of them will do so. This could be the best way to lower credit card interest and work toward becoming financially stable, especially for those who are behind in card payments.

Andy co-founded the Australian SavingUp.com.au savings account comparison website where Aussie consumers can quickly compare details on accounts from a variety of banks and building societies. He has also contributed to their collection of money-saving guides for homeowners and businesses.

The furor surrounding the release of the Suze Orman Approved prepaid debit card has died down a bit, but there still might be some confusion. A lot of the confusion comes from the way the card is marketed, making it seem as though someone with poor credit could improve the situation with the help of this prepaid debit card.

We released a help prepaid debit vs. secured credit tip sheet last week that we think will be informative. But we also believe that it's important to be educated about credit, and understand the way credit works, so that you aren't fooled by slick marketing campaigns that seem to promise one thing, but are really little more than marketing fluff.

Take Our Credit Card Quizzes

If you want to learn a little bit more about credit cards -- or just test your knowledge -- you can take our credit card quizzes. Learn more about the basics of credit cards, understanding how they work and how they affect your credit. You should also take our quiz about credit card myths. Find out more about the persistent myths that continue to mislead consumers.

The truth is that there is a lot of erroneous information out there about credit cards, your credit score and what you can do to improve your situation. Unfortunately, when someone who is trusted and followed by millions puts out a prepaid debit card that is marketed as a credit tool, it only further muddies the waters. Use our credit card quizzes as learning tools; when you're done, you will have a clear idea that a prepaid debit card of any type won't help your credit -- and you'll learn other useful facts as well.

Sign the Financial Responsibility Pledge

We also have a great Financial Responsibility Pledge that you can sign. This pledge is meant to serve as a valuable reminder of the steps you can take to improve your financial situation and use credit responsibly.

Yes, there are people who can't get credit cards and bank accounts because of the financial habits they have developed. Those people are at the mercy of products like Suze Orman's prepaid debit card because they have no other options. You can avoid that fate by making a commitment to live within your means and use your money wisely. The Financial Responsibility Pledge can help remind you of your commitment and keep you on the right track.

Suze Orman set off a firestorm by releasing her own debit card. Many people were disappointed that Suze's card charged many of the same ridiculous fees as other prepaid debit cards. And, unfortunately, Suze, who has long been seen as a consumer advocate who tells it like it is, muddied the waters a bit when it comes to prepaid debit vs. prepaid credit. (If you want to see the differences between prepaid debit and secured/prepaid credit, check out the prepaid debit card tip sheet we created to help you decide which is right for you.)

The way the card was marketed, many consumers might be forgiven for thinking that a prepaid debit card could help their credit scores. When it can't. Just because Suze's debit card will send information to TransUnion doesn't mean that data will be used for anything. And it won't be. Suze's web site, when you look closely, points out that the information won't affect your credit score, and it won't appear on your credit report. It's important to remember this: A prepaid debit card WILL NOT help your credit score. No matter whose name is on that card. (For a great post on how to create your own "prepaid debit" solution, check out a great post, How to Make Your Own Pre-Paid Debit Card -- And Suze Orman's Approved Card at Free From Broke.)

If you want to improve your credit, and you can't qualify for a "regular" credit card or a bank loan, you are better off getting a secured credit card. You will be able use it as credit, your payments will be reported to the credit bureaus, and you can begin to rebuild your credit. A prepaid debit card -- of any kind -- won't help you do that.

Sadly, the mainstream media is, for the most part, in love with Suze Orman's prepaid debit card because it is less bad than other cards of its kind. With personal finance bloggers, though, that doesn't cut -- nor does Suze's poor response to the criticism. If you are looking for posts on Suze's Approved prepaid debit card, here is a big list of places to start. (If we missed you, please add a link to your site in the comments.)

Blog Posts Reviewing Suze Orman's Approved Prepaid Debit Card

Here are the posts that break down the Approved card, and focus more on the nuts and bolts of the product:

• Suze Orman's Pre-Paid Debit Card Scam at Lazy Man and Money.
• Why Suze Orman's Approved Prepaid Debit Card is Terrible at Bargaineering.
• Suze Orman's Approved Card Gets Mixed Reviews and Controversy at Wise Bread.
• Suze Orman Shows True Colors With Her Approved Prepaid Card at Generation X Finance.
• Stay Away from Suze Orman's Approved Prepaid Debit Card at Everything Finance.
• Even if Suze Orman's Name is on the Card Prepaid Debit Sucks at Planting Money Seeds.
• Young, Gullible, and Broke: Suze Orman's Debit Card FAIL at So Over Debt.
• Suze Orman Releases Prepaid Card. Wait, What? at Beating Broke.
• Suze Orman's Approved PrePaid Debit Card: Bad for Consumers! at The Debt Princess.
• Suze Orman Prepaid Debit Approved Card: DENIED at Girls Just Wanna Have Funds.
• Suze Orman's Card is Not Approved by Me at Thousandaire.
• What We Need from Suze Orman Instead of Another Celebrity-Endorsed Prepaid Debit Card at PT Money.
• Suze Orman's Pre-Paid Debit Card Labeled "Cream of the Crap" at The Consumerist.
• Suze Orman's New Prepaid Debit Card: The Approved Card at Consumerism Commentary.
• Personal Finance Products Suze Orman Should've Endorsed Instead of Approved Card at Stupid Cents.
• Suze Orman's Approved Prepaid Card -- Bad Wine In a New Bottle at Money Cone.
• The Approved Card by Suze Orman: Not Such a Bad Product for the Unbanked at Go Banking Rates.
• Is Suze Orman's Approved Prepaid Debit Card Right for You? at Make Spend Save Invest.

Blog Posts Examining Suze Orman's Response to Criticism of the Approved Card

These posts are less about the Approved prepaid debit card and more about Suze's handling of the entire situation:

• Dear Suze Orman at Hi That's My Bike.
• Suze Orman Loses Her Sh*t on Twitter at Nerd Wallet.
• Suze Orman Teaches You How NOT To Handle Criticism at DollarVersity.
• Suze Orman's "Approved Card" Gets Denied; Thinks PF Bloggers Are Idiots at 20 and Engaged.
• Suze Orman, WTF? at Cash Flow Mantra.