$100 OIL! How to Cope With $3+ Per Gallon Gas Prices

Wow, oil prices continue to soar and there is not much we average consumers can do about it. I used to spend $30 every week to fill my car up and now it's running me more like $50 each time (that's over $80 more per month and about $1,300 per year!). I don't know about you, but this is taking a serious dent out of my pocketbook and I don't like it. Well, there are lots of ways you can help reduce the impact high gas prices on your wallet.

For example, I recently signed up for the Chase PerfectCard (APPLY NOW), which offers 6% cash back on ALL GAS PURCHASES for the first 3 months and then 3% cash back thereafter (that's nearly $0.20 per gallon). For me, that's nearly $60 in free gas every year (and it is free since there is no annual fee). As a bonus, you 1% cash back on ALL OTHER Purchases and a 0% APR for 6 months as well.

In addition to financial tools like the one above (it's first on the list since it's the easiest one to do, by far), here are some tips for reducing the impact of high gas prices on your wallet:

Observe the Speed Limit: In addition to avoiding a nasty speeding ticket and the risk of getting into an accident, driving the speed limite can also save you big bucks on gas. As a general rule, for every 5 MPH you drive over 60 MPH, it is costing you about $0.20 per gallon! If you have a lead foot like me, it could save you $0.50 or more per gallon.

Don't Drive Aggressively: While it might make you feel good to stomp on the gas pedal to fly by the one car ahead of you in town or on the Interstate, it won't really get you to your distination all that much faster, but it will cost you a pretty penny. Lots of accelerating, speeding, and braking will cost you BIG MONEY when it comes time to fill up. One estimate puts the increased cost at up to 33% (or more than $1.00 per gallon!). Since most of us are not THAT crazy on the road, the cost is more likely $0.25 per gallon, but that adds up, trust me.

Maintain Your Car: Keeping your tires properly inflated, changing your air filter regularly and using the right grade of motor oil can save you over $0.20 per gallon. These are things you should be doing anyway as they will extend the life of your tires and your car thereby saving you a ton of money anyway.

I know this stuff can be kind of boring, but by signing up for the Chase PerfectCard (Click here to APPLY NOW), observing the speed limit, driving more carefully, and maintaining your car, you can reduce your gas bill by over $0.85 per gallon or over $350 per year (much more for you power drivers out there).

Of course, you could always buy a Prius...

Credit Card Delinquincies SOAR! Prosper Loans to Follow?

A recent report published by CardTrack.com shows that consumer credit card delinquencies have soared in the last few months. According to the report, delinquincies have reached 5.4%, up from 4.5% just 1 year ago. Not surprisingly, total credit card debt has increased a qhopping 315% since 1989 with the Federal Reserve estimating total consumer revolving debt of over $2.5 trillion (that's with a "T").

So, what does this mean to your Prosper loans? Well, naturally, I would fully expect to see DQs accelerate in the coming months. Of course, for those lenders that have been paying attention, this is on top of the already very high DQ rates on Prosper. For example, about 5.2% of 12-month old AA loans (the best Prime loans you can make on Prosper) are late on Prosper (this is nearly equal to all credit card DQs!). If you ventured into the A-rated loan category, nearly 10% of these loans are late (again, only loans that are 12 months old as of this post). B, C and D-rated loans get even worse at 13.4%, 20.7% and 23.3%, respectively.

One can only hope that Prosper will start performing more like the credit cards, which post a meager 5.4% DQ rate as of February 2008. Be well and visit us often.

Free Tax Software and Filing: File Your Taxes For Free at IRS FreeFile!

Did you know that you can get free tax software on the Internet? Through the IRS’ FreeFile program, if your adjusted gross income (AGI) is less than $54,000, you are eligible to utilize software from a long list of partner companies for free.

Online tax software, which is provided free through the FreeFile program, provides a long list of benefits to tax filers including access to your refund money faster (through direct deposit), save gas and a trip to the post office, file any time any day at any hour (up until the deadline, of course) and save paper! You will also get all of the benefits of tax software including accuracy checks, notices of potential errors on your forms as well as confirmation that the IRS received your return (not available if you mail your paper return via the USPS).

If you make more than $54,000 in AGI, you should still consider utilizing low cast tax software. We’ve provided some information on several popular services on our Tax Software page. (link to tax page).

Learn more about the IRS FreeFile program by visiting the IRS website.