Yesterday’s news from Capitol Hill has my heart all aflutter. It seems there has been a fresh wave of aggressive talk toward credit card companies.

Members of Congress, specifically Rep. Carolyn Maloney (D-NY), are once again turning a watchful eye on the credit card industry, Reuters news service reports. Maloney and others met with credit card companies and industry watchdogs for about two hours Monday to discuss best practices and consumer affairs.

A Washington Post article from late May stated that the Federal Reserve, like Maloney, was calling for full disclosure of credit card terms and agreements, spelled out in clear, easily understandable language.

But wait! What about jacking up my credit card interest rate because I misplaced the electric bill one month?

Experiences like mine are simply not fair!

“Congress needs to do more than require that unfair credit card practices be disclosed — it needs to end them,” Sen. Carl Levin (D-Mich.) told the Post.

Well amen, brother.

USA Today ran an article today stating that credit card issuers are embracing the idea of better terms disclosure to consumers, but bristling at the idea of restrictions on credit card fee increases and interest charges.

One can only hope that Congress will persevere in their scrutiny of the credit card industry and deliver real results that will help level the playing field for the consumer.

When you run a one man home business you can often times forget about the most important details. After all, you spend your time trying to grow your business, and before you know it other areas are suffering. One of the most common mistakes among home business owners is forgetting to pay their taxes every quarter. Remember, when you work for yourself, there is no company to take taxes out of each paycheck. It is up to you do to this on your own.

It can be quite difficult for some home business owners to part with so much money each quarter. Since taxes are not deducted on each paycheck, you need to make sure that you save enough money each month so that you have enough when the quarter ends. If you do not, you will find yourself getting backed up, and owing a huge amount at the end of the year. Although some home business owners do not take their taxes seriously, this is not a habit that you should get into. Not only can it destroy your accounting practices, but guess what? You can also get in tons of trouble with the IRS if you make any mistakes, or god help you, forget to pay your taxes.

To ensure that your taxes are paid on time every time, make sure that you jot down the due dates on your calendar. As mentioned above, when you are so caught up in the day to day operations it can often times be difficult to remember your quarterly tax payments. But when it comes down to it, the IRS will not want to hear any excuses! 

With our finances it is often easy to do okay budgeting on the big things while getting soaked with the smaller stuff. There are dozens of measures that can be taken on a daily basis that can save hundreds of dollars in the long run. Below are some tips that are easy to overlook but make quite a difference once put into practice.

Gasoline: It is possible to save a few hundred dollars annually on fuel costs just by comparing prices at different stations. Pump gas yourself, and use the lowest-octane called for in your owner’s manual to reduce prices further.

Grocery Shopping:

Use coupons, check weekly flyers for sales, purchase generic brands of products. By shopping smart, reports have shown savings of 40% on weekly grocery bills.

Phone Bills:

There was a time when consumers were forced to endure what the phone company saw as fair prices. These days cellular phones and internet phone companies have changed the way the game is played. Consider using a cell phone rather than a pricy long distance land-line plan.

Checks:

Never bounce a check under any circumstances. If you can’t make the ends meet, call your creditors and work out an extended payment plan or a possible partial payment system. Bouncing a check not only results in hefty bank fees but it damages your credit rating as well.

Take a Hike:

Whenever possible, walk to run errands rather than drive. Fuel costs are the highest they’ve been in decades so there is no reason to waste gas when there are alternatives. Not only is walking or bicycling good for the body, it keeps money for gasoline in your wallet.

Sometimes it seems like we nickel and dime ourselves in our daily lives but the key is to take a different approach in our spending habits. Saving a few dollars here and there can result in hundreds of extra dollars per year. Think of every single purchase as an opportunity to save a little.