Consumer

• Debit card don'ts for the holidays
• H&FF Radio offers ideas for holiday shopping, 2009 taxes
• Get the most bang for your charitable buck this season

Debit card don'ts for the holidays

DULLES, VA (11/23/09)--As more consumers avoid using their credit cards to keep balances low, debit cards are getting a workout. Debit card transactions are predicted to outpace credit card transactions on Black Friday. As holiday shopping starts, consumers need to be cautious when using a debit card for transactions requiring a personal identification number (PIN) (walletpop.comNov. 12).

PIN-based transactions are not covered under a card's liability policy, which means it may take up to 10 days to get your money back for returned or disputed purchases.

Before you head to the mall or websites this holiday season, here's what you need to know about using a debit card wisely:

• Always pay with a credit card online. Paying with a debit card using your PIN is the same as wiring a retailer cash. If you "fat finger" any entries and end up with multiple items in your virtual shopping cart, you may be out of luck getting a refund.

• Keep receipts. They won't get you a refund faster, but getting one will be easier.

• Add "copy of my credit report" to your shopping list. This is a good way to ensure there's no fraudulent activity on your accounts, and it gives you a baseline for future checkups. Federal law lets you access a free copy of your credit report once every 12 months from each of the three major credit reporting companies: Equifax, Experian, and TransUnion.

• To check your credit report for errors, call 877-322-8228 or go online to annualcreditreport.com. You can check your report at all three companies at the same time, or order a report from a different company every four months to monitor your report throughout the year. If you find an error in one report, it's wise to immediately check the others for errors as well.

• Act fast if your debit card is stolen or used fraudulently. Report it to your credit union or other card issuer right way. Your liability can be as much as $500 if you wait more than two business days. The responsibility to monitor activity on your account is up to you.

• Check the status of your checking account before you shop. That way you'll know your balance and you can avoid overdraft charges for any debit card purchases that would put you over the top. And, you can set a budget for your holiday spending based on the money available. For more information, see the Debit vs. Credit video in Home & Family Finance Resource Center.

Resource Links

Home & Family Finance Resource Center

Home & Family Finance Radio: Teaching Kids and Young Adults About Debit Cards

H&FF Radio offers ideas for holiday shopping, 2009 taxes

WASHINGTON (11/20/09)--Sunday's H&FF Radio program provides information about tax credits for home improvements, new income tax deductions and credits for 2009, holiday budget ideas and holiday spending projections.

Home & Family Finance airs Sundays at 3 p.m. ET on the Radio America Network. The show also is carried on American Forces Radio Network. The one-hour program devoted to consumer finance issues is brought to you by America's credit unions and their 90 million members, and is presented by CO-OP Network.

The Credit Union National Association (CUNA) and Radio America are podcasting Home & Family Finance through iTunes, Podcast Alley, Odeo, and other popular podcast library sites, as well as on Radio America and CUNA's websites.

Sunday's show, which you also can hear later via the Internet, features Paul Berry, Washington, D.C., journalist and broadcaster, discussing these topics with special guests:

• "2009 Income Tax Credits for Energy Efficient Home Improvements," with Ronnie Kweller, director of media relations, Alliance to Save Energy, Washington, D.C.;

• "IRS Tax Tips on New Deductions and Credits for 2009," with Eric Smith, national spokesman, Internal Revenue Service, Washington, D.C.:

• "Spend Green without Going in the Red This Holiday Season: Create a Holiday Budget," with Ethan Ewing, president, Bills.com, San Mateo, Calif.; and

• "What Consumer Reports Knows About This Holiday Shopping Season That You Don't--But Should," with Ed Farrell, director of market research, Consumers Union, Yonkers, NY.

Home & Family Finance is a resource center for personal finance information at CUNA. The radio show is sponsored by CO-OP Network, the national credit union ATM network; Cabot Creamery Cooperative, maker of award-winning cheddar; Western Corporate FCU (WesCorp) and its member credit unions; and the Defense Credit Union Council and member credit unions, serving those who serve our country worldwide.

For more information, read "Earn Tax Credits for Energy-Efficient Improvements" and "'Tis the Season for Trouble-Free Shopping, Returns" in the Home & Family Finance Resource Center.

Resource Links

Build a Basic Budget: The 5-Step Spending Plan member seminar kit

Happy Holidays from Your Credit Union drive-up envelope

Home & Family Finance Radio

Home & Family Finance Resource Center

Get the most bang for your charitable buck this season

NEW YORK (11/18/09)--The economy, while improving, still will take a toll on 2009 holiday observances: 63% of respondents to a recent Discover Financial Services survey aim to spend less this year on gifts due to personal finance concerns (online.wsj.com Nov. 4).

Charities also expect to feel the squeeze as U.S. consumers tighten budgets over the holidays. Among the nation's largest fund-raisers, half expect donations to drop more than 9% during the period (usatoday.com Nov. 2).

With less money to go around this season, it's even more important to make your charitable dollars go further. Follow these tips to ensure your donations--large or small--have the greatest impact:

• Avoid administrative costs. Some organizations collect a percentage of your cash donation for administrative costs. Contact your charities or research them online to find out what percentage of your donation actually will go to your intended cause. The Better Business Bureau has an excellent online resource at www.bbb.org/charity.

• Pinpoint your dollars. Focus on organizations that you care about most. Concentrating your support allows you to give more to a cause instead of spreading the charitable amount to several entities.

• Cash instead of food. Food banks often can purchase more with a cash donation than you can at your local grocery store. Instead of buying items to donate, consider donating the amount you would have spent.

Resource Links

Holiday Statement Stuffers

Budgeting Resources

MoneyMix: Launch Your Life

Home and Family Finance Resource Center