Holiday Savings: Thanksgiving

It snuck up on us, too, but Thanksgiving is only next week. In honor of the holidays, here's a short guide to some of the best stories out there regarding frugal spending for Thanksgiving.

The Reporter News says: Let's talk turkey: Tips on saving money at Thanksgiving

Lindsey and Crystal Tipton, who both cook at Ben Richey Boys Ranch, say it is best to do your shopping ahead of time. You get the best buys before the holiday, plus you are likely to spend more money if you go at the last minute.

“You can catch the sales,” Lindsey said. “Go ahead and buy your turkey — you can keep it frozen until a day or two before Thanksgiving.”

The Wallet Pop blog has some advice for traveling parents: Save money (and your sanity) by renting baby gear instead of schlepping

My husband and I utilized a service years ago when travel plans called for a transfer from one regular-sized plane onto an itty-bitty flying deathtrap. I'm not sure it would have gotten off the ground with us and the baby gear, but I digress ... Bottom line, renting the perfect stroller and a clean, brand new portable crib once we arrived at our destination was absolutely brilliant and it almost made me forget we had to get back on that plane to fly home...

Finally, the Herald Online remind us that Thanksgiving doesn't have to cost an arm and a turkey leg.

Save money by buying in bulk. If you're feeding a crowd, check out the prices at membership warehouse clubs.

Look for turkey sales. Many stores offer turkeys at discounted prices if you spend a certain amount. This year, Walmart stores with grocery sections are featuring turkeys at 40 cents a pound — which means a 12-pound bird will cost you less than $5.

Avoiding Overdraft Fees Before Regulations Set In

The fine More Money blog has some great tips to help you avoid overdraft fees before the new regulations go into effect:

Opt out. While the new regulations will require consumers to opt in, most banks will let you opt out now. You just have to call and ask. But remember, once you've opted out of overdraft protection, your card will be rejected if you try to spend more than you have.

The Los Angeles Times has more details on the regulations:

The new rules, which take effect July 1, mean that if you don't have overdraft protection, any debit card purchase or ATM cash withdrawal will be rejected if it exceeds the amount of money in your account.

And if you do want overdraft protection, your bank will have to give you a notice explaining the service and its fees before you can accept it.

Interest Rates in the News: November 9, 2009

There's been no shortage of news regarding interest rates: whether it's for certificates of deposit, mortgages, or credit cards. Here are some recent highlights:

SmartMoney asks: Is Now the Time to Jump Off Your CD Ladder?

Investors looking to maximize their yield in a low-rate environment could consider a “barbell” strategy, keeping half of their money in a savings or checking account and the other half in a five-year CD, Barrington says. “One and two year rates are not appreciably better than what you could get if you shop around for a savings account,” he says. The money in the savings account would be available to move immediately when rates pick up – and the average yield from a barbell would be higher than the average yield from a ladder under current conditions, Barrington says.

The Associated Press announces that Georgia has secured historic low interest rates on state bonds:

Georgia secures low interest rates on state bonds

Gov. Sonny Perdue said the cheap rates saved the state $35 million for fiscal year 2010, which began in July. That's good news for the state, which is struggling with sagging tax collections thanks to the recession.

TopNews reports on some possible changes to credit card rates:

Hike in Credit Card Interest Rates

With the expected moves, credit card companies will be going back to the basics. In the 90s, an annual fee for cards was common, but as the usage grew, more and more companies starting offering customers easier options. It seems that, in order to survive, credit card firms will have to take a cue from the times bygone.

Fed to Keep Rates Near Zero

The Federal Reserve kept its key interest rate near zero once again Wednesday. It released a statement saying that although the economy continues to improve, it intends to stay the current course.

The Fed's decision came just one week after the government reported that the economy grew in the third quarter, the first gain after declines over the previous four quarters.

While it was generally assumed that the central bank would leave its federal funds rate in a range of 0% to 0.25%, economists and investors were eager to see how the Fed described the economy in its statement.

Information courtesy of CNN