Guest Author - Lili Pintea-Reed

Many people have written asking what I think about how the USA Bank Melt-Down will affect the frugal. Well if you don't have any loans the effect will be peripheral. It will show in higher prices for things you purchase retail like food, energy, and heating. And the big one --higher taxes to pay for the bail out. But if you don't owe any credit card loans, the effect will be less direct.

However, If you owe any credit bills you will see higher interest rates, bank fees, highly mobile pay dates, and other tricks to get you with a high extra fee.

You really need to watch for this sort of stuff. The banks need to get the money somewhere. Its coming from YOU!

You really need to monitor your cards closely.

1) Many people report in spite of paying on time and full payments, they got their interest rates raised. Keep an eye on this trick.

2) People report even though they have had the same pay date for years --they suddenly have the pay date move, thus making them late. This means the bank gets a Late Fee!

3) Another tactic is to allow a charge to go over limit --and then charge you and Over Limit fee.

4) new fees added to the card. You may have originally had a card with 'NO Annual Fees" that suddenly has a monthly fee or annual fee billed to it.

The Best Solution is to pay these cards off as fast as possible. If this is just not possible then keep a close eye on your cards. Be prepared to pay early, and more than the minimum fees to keep you self out of over charge danger!

Even if you need to pick up a temporary second job, do it, and free yourself from this means the banking industry is going to retrieve this money --from You the Customer!!!

To avoid the raising retail costs try and avoid paying retail for anything. Lower your heating a cooling costs by reading the articles here on inexpensive means to lower your energy bills.

By not being a big spender or investor you are actually in a better position to weather this financial storm than "the wealthy."

Check out these other useful articles:

Make A Heat Catcher And Lower Your Heat Bills!
http://www.bellaonline.com/articles/art36322.asp

Cheap Cooking!
http://www.bellaonline.com/subjects/1020.asp

Save on Gas!
http://www.bellaonline.com/articles/art56981.asp