New credit card rules to take effect on February 22

A bevy of new rules affecting credit card accounts will take effect on February 22. Long considered to be one of the most abusive sectors of the financial industry, credit cards have recently gotten such a bad rap that changes were virtually guaranteed to be coming down the pike. Well, now they are.

Here is a list of the changes to the credit card industry that will go into effect on February 22:

• Rates cannot be increased during the first 12 months after opening an account.
• Rate increases can only be applied to new charges.
• Application and annual fees cannot exceed 25% of the initial credit line.
• No more double-cycle billing.
• Promotional rates must remain in effect for a minimum of six months.
• No more over-limit fees, unless the card holder opts in.
• No fees can be tacked on to credit card payments made online or over the phone unless the payment is made on the due date.
• The credit card company must give 45-day notice of pending rate or fee hikes or any other significant changes to credit-card terms.

Save money on legal fees with LegalZoom.com

It's common knowledge that lawyers are expensive. In fact, just the creation and filing of a simple legal document can often set you back $1,000 or more. But now there is a simple way to create a wide variety of legal documents yourself at a mere fraction of the price that an attorney would charge you.

LegalZoom.com is a website that allows you to create your own legal documents such as wills, powers of attorney, uncontested divorces, L.L.C. filings and much, much more, all without the aid or expense of an attorney. Simply answer a few simple questions, then LegalZoom creates the documents for you. You then print them on your own printer and file them with the approriate agencies. It's really that simple. LegalZoom was created by a team of top attorneys. Check them out!

Many workers dipping into their 401k's to survive

With millions of people out of work at present, many of them are having to dip into their retirement funds in order to pay the mortgage and put food on the table. Most of us have been taught that our 401k's and IRA's should be considered off-limits until we're ready for retirement, but it's hard to live up to that standard when so many are facing foreclosure and the kids are going hungry.

The good news for younger workers is there will likely be time to make up a good portion of those potential losses in capital before retirement rolls around, but the future looks quite bleak for those who happen to be middle aged or older. If you find yourself in the latter age group, it's imperitive that you do whatever you must in order to make it without having to tap into your retirement accounts.

Cut back on expenses as much as possible, take a second job, turn a hobby into a second income...whatever it takes. There is no tomorrow when it comes to trying to re-build a retirement nest egg when you're already just a few short years from retirement.

6 tips for finding work in a down economy

With the economy in the dumps and the national unemployment rate hovering at right around 10%, many people are finding it quite difficult to find a job or even hold on to the one they already have. Here are six tips for finding work in a down economy:

1 - Hit the bricks. When jobs are hard to find, they aren't going to come looking for you. To be successful, you'll need to be more dedicated than the next guy. Get out there, and apply early and often.

2 - Be flexible in your salary requirements. Chances are you'll have a hard time replacing a high salary in this economy. Be prepared to accept a job at a much lower pay rate than you are accustomed to earning - at least for the short term.

3 - Be flexible in regards to the type of job you're willing to accept. Just because you have experience in one field doesn't mean you can't switch to another, especially now that many types of jobs have been permanently moved overseas.

4 - Keep in mind that when the bills are piling up and the cubbard is bare, ANY job is better than no job at all. You might think it beneath you to work in a fast-food joint, but trust me, going without food or heat is worse.

5 - Be willing to work two (or more) part time jobs while you're looking for a decent full time rplacement.

6 - Always be on the lookout for a better job. The best time to look for a new job is when you already have one. And just because you're currently stuck in a "dead-end" job doesn't mean you have to be working there forever. As the ecomomy improves so will your job prospects.

Mortgage loans remain out of reach for many borrowers

The financial meltdown has most banks running scared in regards to making new mortgage loans, much to the President's lament. These days in order to qualify for a mortgage, most prospective home buyers will need a sizable downpayment, a relatively high income in relation to the mortgage amount, and a long and virtually spotless credit record.

The administration is considering measures to both entice and force lenders to start making mortgages available to the general public once again in an attempt to revive the long stagnant housing market, but with memories of the sub-prime mortgage fisaco still fresh in their minds most lenders are wary about dipping their toes back into an uncertain market.

Those who are planning to buy a house within the next couple of years would be well advised to begin making preperations now. Right now the guidelines for qualifying for a mortgage are quite strict, so the sooner one gets started the better.

Bernanke re-confirmed as Fed Chairman

Fed Chairman Ben Bernanke has been reconfirmed by the Senate to second four year term as chairman of the Federal Reserve Board. The Senate voted to reconfirm Bernanke although a whopping 79% of Americans who responded to a Rasumssen poll on the topic was against the move.

President Obama and the majority of the Democrats in the Senate thought Bernanke deserved credit for keeping the economy from completely collapsing during the ongoing recession, but a number of Republicans and moderate Democrats disagreed.