The Internet is a very powerful tool for consumers seeking financial products and services. For many years large financial institutions enjoyed the fact that many consumers could not get the right kind of information to make smart decisions with their money. The Internet changed that forever, as you can now easily research financial issues, compare financial products and services and ensure you spend and invest your money wisely. To celebrate the launch of the Cubalaya Finance category, here are my top 10 tips to save money today.
1. Mortgages. Interest rates have been stable for the last few months, while mortgage rates have been down. With the home real-estate market down and not expected to rise soon, these rates are unlikely to change in the near future. So if you're expecting to live in the house for a long time, consider a long-term fixed-rate mortgage, as the current rates should benefit you over the long run.
2. Savings Accounts. Those idle interest rates do not make savings accounts especially worthwhile. These accounts are and always will be a safe, stable place to keep money and show a positive return, but it might be a good idea to look into investing in mutual funds and stocks if you'd like to see some larger returns.
3. College Loans. The cost of attending college is increasing more rapidly than grant aid, federal loans and families' ability to pay. If you're set on attending college even though you can't really afford it, it is possible to take a private student loan. But beware, because many private lenders do not make their terms of repayment clear and students who have yet to understand the world of personal finances can get stuck with loans they can't afford to take.
4. Bonds. If you'd like to see some long-term return but risk-free, bonds are a good way to go. There are bonds for terms as short as two years, but one should also consider the 20 or 30 year types as a source of good, solid return. This makes them an ideal gift for the birth of a baby, for example, as something that will help his or her parents put them through college in due course.
5. Credit Cards. With many people booking and paying for their summer vacation trips now, it might be a good time to consider a credit card deal offering a bargain interest rate on any balance transfers. These deals are usually very good for consumers who can pay off existing credit card debt immediately, but not if you might miss a payment, as the interest rate will go up. You may find your old card will save you more in the longer term. Also look carefully at any additional benefits a card may offer you such as protection on goods purchased, or a secured card which can help you repair bad credit status with all three major companies.
6. Home Insurance. Many consumers are guilty of leaving their home insurance with one provider year after year. There are usually some very good deals offered on the market if you switch, such as cash-back or a bonus payment if the provider can’t beat your existing premium. As always, look carefully at the type of cover provided. Cheaper isn’t necessarily better if your cover is significantly reduced or if the support you will receive if needed isn't up to standard.
7. Car Insurance. Much like all other forms of insurance, consumers are often guilty of remaining with the same insurance company year after year due to the hassle of changing provider. With the ease of finding a better deal online it is now much easier very worthwhile to check out the offers and change every year if necessary. It is possible to get a full insurance policy quote within minutes online, so it won't take you too long to compare several offers.
8. Life Cover. Financial advisors believe this is one of the most neglected areas of people's financial planning. Nobody likes to think that anything could happen to them, but not planning for the worst could make matters even more tragic for those left behind. If you have a partner, large mortgage or are a provider for your family this is something worth investigating.
9. Loans. This is a great way to buy that something special like a new car or pay for that long-awaited family vacation, but also to consolidate all your debts to make it easier to control and clear them. When researching loans compare the APR (Annual Payment Rate) and ensure that you don’t include repayment protection to get like for like. A key area for consideration in taking any loan is whether it is secured or unsecured. Unsecured are usually available for lower amounts at a higher rate of interest and a secured loan is usually secured against your home. Therefore it is critical that you can meet the repayments or you risk losing your home.
10. Finally the best tip I can give you is to always do your research. Just by looking at several competitive offers you can save hundreds if not thousands of dollars. When agreeing to part with your money or sign up to a service always take time to understand the agreement. It’s cliché, but reading the small print is the most important thing you can do when signing anything related to personal finance.
Enjoy the new Cubalaya finance category with further useful content coming soon.
Cubalaya Shopper
But not just the merchants benefit from this kind of system- giving personal information online, especially a credit card number or an electronic check, has always been a bit risky. Online security has improved substantially over the years, but the fear of electronic fraud has been one of the major factors in PayPal's success. They act as the middleman 
between the customer and the merchant, and keep the fomer's financial data to themselves, offering a stronger sense of security, not to mention making purchases a quicker process. In fact, eBay determined this idea so useful to its business model that it purchased PayPal in 2002. 
And then came Google Checkout. Waiving all transaction fees through the end of 2007, Google is looking to expand its circle of merchants during the holiday season. While still lacking many of PayPal's features, the Google has a wide range of online stores which accept Google Checkout, allows payments through a mobile phone (soon to be extended further with the GPhone?), and, unlike PayPal, has great customer service. And looking at the recent upgrades to the Checkout service- it seems Google takes customer feedback to heart.
