Be Wary of Credit Card Offers in the Mail

The recession hasn’t only lightened our wallets but our pile of mail, as well. Credit card deals offered through the mail are quickly drying up. Because of the economy, credit card companies have made cutbacks in direct marketing, which has decreased the number of new credit card offers mailed to consumers by 71%. Not only are people receiving fewer credit card offers in the mail, but the ones still going out are becoming less and less desirable and legitimate. As a result, chances are that the offers mailed to your house aren’t the best.

The marketing agencies that send the deals choose to make offers that you are most likely to accept, not the ones that are best for you. The perks in unsolicited offers—cash back, awards points, free flights—often obscure the hazards, tricking you into accepting credit that could seriously threaten your financial health…

The New Rules for the Recession Holidays

Tight times have brought out our ingenuity in spending and this second holiday season of the downturn is no different. We rounded up a few of our favorite new rules for surviving the holidays:

* Regift. It’s both budget-friendly and good for the environment: Recycle those unwanted yet still brand-new socks, wine bags, candy dishes, etc. “Regifting” – the act of giving someone a gift that you had received – is growing fashionable. A poll by Consumer Reports found that 36% of U.S. adults said they would recycle a gift this year, compared with 31% last year and 24% in 2007.

* Group-give. First, pare your list to its essentials, then find a buddy or two to go in on gifts for those on your list. This tip comes from Jack Chary, who also recommends starting a Christmas savings account in the future. Good thinking…

Cost-Cutting at College—Separating the Good from the Bad

Tuition costs are rising and financial aid funds are scarce, but that doesn’t mean you should sit back and watch your college dreams go up in smoke.

Since the recession began last year, thousands of tips and tricks have been published listing ways to make college more affordable. From small shifts (like buying used textbooks rather than new) to big changes (like moving off campus to save on housing), there’s no doubt that the thousands of published ideas could save students money. But whether many—or any—of these ideas are actually feasible for the average student is another story entirely…

How to Manage Money After a Layoff

With the unemployment rate now at 9.8%, chances are that you or someone you know has been laid off. Yet the bills still need to be paid, and without that salary you used to depend on, it’s hard to know what to do first. Galia Gichon, founder of Down to Earth Finance, former Wall-Streeter and personal financial expert with a particular focus on women, suggests creating a financial plan and sticking to it in order to make the most of your savings or severance. Here’s what she had to say about spending habits, budgeting and more after a layoff:

Recessionwire: What’s the first thing you should do with your money after you’ve been laid off?

Gichon: I would say that the first thing to look at is automatic payments that you might not be aware of. Look at your credit card bills and bank statements—perhaps it’s the newspaper, video rental, the gym or charitable contributions—which can add up to hundred of dollars a month…

The New Debt Collectors

While many of us would sooner forget the past year or so, a few history buffs out there have started hunting for recession souvenirs. A top prize among this group are the IOUs issued by California’s cash-strapped Gubernator Arnold Schwarzenegger last week.

Like Depression-era stock certificates, which were worthless in their day and could now fetch a bundle on Antiques Road Show, these collectors are hoping the state warrants issued in lieu of checks will someday have real value — if only sentimental.

“I figure it would be an interesting thing to have around when my grandchildren are fighting over my stuff after I’m dead and gone,” one poster wrote in a recent Craigslist ad offering twice the face value for a California IOU, up to $100…

Easy Etiquette, Recession Approved

You may have lost your job recently, but that’s no excuse to lose your manners, too. Of course, with so many friends and family members struggling with unemployment and financial woes, you may not be sure exactly what proper etiquette even entails anymore.

After all, who’s supposed to pick up the check at dinner now that all of your i-banker friends aren’t feeling so flush? And when is the right time to start networking at a party? Today’s recession is quickly changing all the rules, and bringing up questions that no Miss Manners book in the library is ready to answer.

Luckily, a bevy of “etiquette experts” have been doling out recession-friendly advice over the past few weeks and putting together some general guidelines…