By John Napolitano, Financial Planning Association of Massachusetts

John Napolitano is president of the Financial Planning Association of Massachusetts and chief executive of US Wealth Management. He will be hosting a live Boston.com chat on Friday, Nov. 9 at 3 p.m.

We all eventually clean out a closet or basement, and find things that you forgot about and deem useful or valuable. From a financial perspective, the same process may also yield unexpected treasures. Living proof of this is your home state's unclaimed property list. In my home state of Massachusetts, it is estimated that one in 10 residents has unclaimed property.

Every month has its share of sales and seasonal buys. What should you go for in November?

John P. Napolitano, the chief executive of US Wealth Management, will take your money questions live Tuesday, Oct. 30 at 1 p.m.

Thinking of flying for the holiday season this year? You'll probably notice higher prices, if you are. But how can you get a cheaper flight? Here are some tips from George Hobica, founder of Airfare Watchdog. Some of his tips include setting up alerts for lower fares, looking at the early morning flights, and picking Thanksgiving Day (rather than the day before). What are your airfare tips?

Relay Rides is a car-share program that puts extra money in car owners' pockets. The program lets people rent out their cars for hours or days via the company's website. Relay Rides lets people rent cars for $7 an hour, $50 a day, or $250 a week. The whole transaction is done via Relay Rides, so people renting their cars don't need to be there to take the cash. What do you think? Is this a service you'd use?

Keeping up with all the shopping discounts on the web and in your favorite stores can be a challenge. But what if you had a mini personal shopper that sits in the palm of your hand to help remind you that your favorite pair of shoes is now discounted and just a click away? Buzz 60's Priya Desai takes a look at the apps and websites to help you save some cash.

Taxes and health care in the SAME entry?! I promise I'll make this quick and easy -- while saving you some cash in the process. While you're wading through all those forms during your annual health care open enrollment, make sure to look for information on flexible spending accounts. At their core, these accounts let your employer take money from your account before taxes that you can then put toward some medical costs, such as co-pays.

Think of it as a forced savings that is worth more than if you just put the money in a locked box under your bed.

People across the country are starting their annual human resources meetings to pick out health care plan options for next year. The task can be daunting. While you wade through the differences between an EPO and PPO, make sure to check out what your company offers for wellness incentives. You might be surprised.

You can start collecting Social Security at 62, but it might not be the best idea. If you can hold out longer -- say, until you are 70 -- then you could have a much nicer regular income coming in.

By Christina Reinwald, Boston.com correspondent

How do you keep track of your financial information? Mint.com wants to help you improve it by importing your finances online. Stacy Rapacon, channel editor for personal finance website Kiplinger.com, said Mint.com offers the best overall online budgeting. What makes it even better? It’s free.

A 15 percent tip used to be a standard to leave for a waiter. Then came the stand 20 percent. Now a New York Post article is suggesting 25 percent is the new normal.

Looking for other options than just the traditional checking or savings account? Here are some ideas to check out (that are safer than just stuffing all your money in a shoebox).

Do you have financial questions that you'd like an informed opinion about? Then join certified financial planner Dana Levit today at 11 a.m. for a chat about money. Dana is owner of Paragon Financial Advisors in Newton.

Bank of America and some other banks have announced in recent months new fee structures. Partially as a result of new regulations coming from Washington, many banks, including BofA, will end or severely limit free checking accounts in the near future.

However, Bank of America does offer a nice program to its debit and credit card customers that may take some of the sting out of the new account related fees. It is called the Museum’s on Us program. This program provides free general admission to participating museums and zoos on the first full weekend of every month. All you have to do is present your Bank of America debit or credit card and your photo ID. Since BofA has such a large customer base, I assume some 20 percent of the country can take advantage this program.

The next eligible weekend is March 5th – 6th. There are over 150 participating museums in the United States. In Boston, you can gain free entry via this program to the Museum of Fine Arts. Additional participating museums in the area include: The Cape Cod Museum of Art in Dennis, the deCordova Sculpture Park and Museum in Lincoln, the Worcester Art Museum, the Currier Museum of Art in Manchester NH, the RISD Museum of Art in Providence, the Providence Children’s Museum and the Museum of Work and Culture in Woonsocket.

Black Friday is only a few days away, and this year, many retailers are opening earlier than ever before. Below is a list of when some of the major retailers are planning to open.

Old Navy - Opens 9 a.m. Thursday, midnight Friday

Toys R Us - Opens midnight

Wal-Mart - Opens 4 a.m.

Kohl's - Opens 3 a.m. (except Mansfield store, which opens at 8 a.m.)

Sears - Opens 4 a.m.

Macy's - Opens 4 a.m.

J.C. Penney - Opens 4 a.m.

Target - 4 a.m.

Best Buy - Opens 5 a.m.

GameStop - Opens 5 a.m.

K-Mart - Opens 5 a.m.

Home Depot - Opens 5 a.m.

Dick's Sporting Goods - Opens 5 a.m.

Sports Authority - Opens 5 a.m.

Lowe's - Opens 6 a.m.

Radio Shack - Opens 5:30 a.m.

Staples - Opens 6 a.m.

Office Depot - Opens 6 a.m.

Bass Pro Shops - Opens 6 a.m.

OfficeMax - Opens 7 a.m.

Correction: This blog originally stated that Toys R Us is opening at 10 p.m. Thursday. However, because of state restrictions in Massachusetts, the store is opening at midnight. Also, do to Massachusetts laws, Wal-Mart is opening in Mass. stores at 4 a.m. instead of midnight.

The American Recovery and Reinvestment Act of 2009 expanded two energy tax credits that allow homeowners to make energy saving home improvements and receive a tax credit for those improvements. The two credits are the non-business energy property credit and the residential energy efficient property credit.

In addition to reducing your overall energy costs, these credits will reduce the amount of your tax liability or increase your refund. Taxpayers can claim these credits on there 2010 tax return even if they do not itemize deductions on Schedule A. Here’s how each of the credits work.

Non-business Energy Property Credit:
This credit allows homeowners to receive a tax credit of up to 30 percent of what they spend on eligible energy-saving improvements (including labor) for certain high-efficiency heating and air conditioning systems, water heaters, and biomass burning stoves. Energy-efficient windows, skylights, and doors also qualify for the credit. The total tax credit received for 2009 and 2010 cannot exceed $1,500.

Residential Energy Efficient Property Credit:
This credit provides a tax credit for alternative energy equipment. Similar to the non-business Energy Property Credit, homeowners can receive up to 30 percent of the amount spent on residential energy efficient property such as solar electric systems, solar hot water heaters, geothermal heat pumps, wind turbines, and fuel cell property. However, unlike the first credit, there is no maximum limit on the dollar amount of this credit except for the limit on fuel cell property.

Keep in mind that not all energy-efficient improvements qualify for these tax credits. The IRS cautions homeowners to check the manufacturer’s tax credit certification statement before purchasing or installing any of these products and improvements. The tax credit certification statement is not the same as the Department of Energy’s Energy Star label. While many Energy Star products will provide you with an overall savings on your energy consumption, not all Energy Star products are eligible for these tax credits.

For more information on these credits visit the IRS’ web site at http://www.irs.gov/newsroom/article/0,,id=206875,00.html

Several retailers are offering cash back on balances stored on Christmas Club savings cards, but don’t delay.

The Sears Christmas Club card offers a 3% bonus up to $100 on balances as of November 15th, but the card must be activated by October 31st. The reloadable gift card can be used at Sears, Kmart, Lands End, mygofer and The Great Indoors. Toys R Us has a similar program, but the bonus is paid on the card balance as of October 16th.

I haven’t found any other offers like these in our area, but another way to boost your holiday budget is to open a Christmas Club account at a local credit union. The advantage here is that you can set up direct deposit to make funding the account simple. And you’ll earn a little bit of interest between now and the holidays.

Under the American Recovery and Reinvestment Act of 2009, the tax credit for making energy efficient home improvements was increased and extended. The new law allows homeowners to receive a credit of up to 30 percent for qualified energy efficient home improvements through 2009 and 2010. The credit is limited to $1,500 for 2009 and 2010 combined.

Here are some key points from the IRS to consider about the tax credit if you are planning on making energy efficient improvements:

* The credit applies to improvements such as adding insulation, energy-efficient exterior windows and energy-efficient heating and air conditioning systems.

* To qualify as “energy efficient” for purposes of this tax credit, products generally must meet higher standards than the standards for the credit that was available in 2007.

* Manufacturers must certify that their products meet new standards and they must provide a written statement to the taxpayer such as with the packaging of the product or in a printable format on the manufacturers’ web site.

* Qualifying improvements must be placed into service after December 31, 2008, and before January 1, 2011.

* The improvements must be made to the taxpayer’s principal residence located in the United States.

* To claim the credit, attach Form 5695, Residential Energy Credits to either the 2009 or 2010 tax return. Taxpayers must claim the credit on the tax return for the year that the improvements are made. Form 5695 is available at http://www.irs.gov/pub/irs-pdf/f5695.pdf.

For more information about this tax credit, visit the IRS web site at http://www.irs.gov/newsroom/article/0,,id=211307,00.html.

After being absent last year, the state sales tax holiday in Massachusetts is back for 2010. This weekend, on August 14th and 15th, consumers who purchase items that cost less than $2,500 will not have to pay the 6.25% MA sales tax on those purchases. However, certain rules apply. Here are a few of the major ones:

1) Motor vehicles, motorboats, meals, telecommunications services, gas, steam, electricity, tobacco products do not qualify for the state sales tax exemption.

2) Single items whose purchase price exceeds $2,500 do not qualify for the state sales tax exemption. Single items which exceed the $2,500 limit will be taxed on the entire purchase price not just the amount above the $2,500.

3) There is no limit to the amount of items that can qualify on a single receipt as long as the purchase price of each item is below $2,500. For example, you can purchase 3 items each costing $1,000 on the same receipt and all three items will be exempt from state sales tax.

For more information about the MA sales tax holiday and the specific rules, click here.

Keep in mind that, as with most sales tax holidays, saving 5% - 10% on a big ticket purchase is a great way to save money on items that you were already planning on purchasing. It is not necessarily a good reason to go out and purchase a big ticket item just because you can save on the sales tax. Especially since many retailers already offer 5% - 10% savings on a regular basis through their weekly sales offers.

If you don't live or shop in Massachusetts, many other states also have sales tax holidays. Here is a link to a summary of holidays by state for 2010. http://www.taxadmin.org/fta/rate/sales_holiday.html

I have a deep seated fear of taking my car to the mechanic. My understanding of cars is limited to what I learned in high school in small engine repair. You will be even less impressed with my educational credentials when I tell you that I attended public schools. The fear is a macho thing. I know very little about cars and my biggest fear is that the mechanic starts talking about fuel injectors, brake lines, struts, axles etc. and I do not understand him / her.

That being said, I have learned a few things over the years and have been fortunate enough to keep my car repair costs to a minimum. Here are a few things to keep your car repair bills down:

Preventive maintenance – The old adage “an ounce of prevention is worth a pound of cure” holds very true when it comes to cars. I try to follow the scheduled maintenance plan as outlined in my car owner’s manual. Following this maintenance plan will add years of life to your vehicle and keep it out of the shop. However, there is no need to overdo preventive maintenance. For example, my owner’s manual tells me to change my oil every 5,000 miles. I stick to this plan and do not subscribe to having my oil changed every 3,000 miles that many repair shops tell me to follow. This alone saves about $40 / year.

Honest mechanics – The difference between an honest mechanic and a dishonest mechanic can save you hundreds of dollars each visit to the shop. Once you find a mechanic that you are comfortable with, hold on to them for dear life. If you do not have a mechanic that you work with regularly, ask your friends and family for references. Recently, my car had to pay a visit to my mechanic (MacDonald’s Auto Repair in Canton). After the work was completed, I felt that I was NOT charged enough. It is pretty rare that I want to pay anyone more than the bill, but I feel this way every time I leave their shop. They are just so honest and reasonable.

Clean car exterior regularly – Clean the exterior of your car regularly, especially the undercarriage. The build up of salt, dirt and debris on parts will corrode parts quicker and require more costly repairs. Also dirt and grit gets into joints and helps cause failures.

Dealership vs. local repair shop – Getting repair work done at the dealership is usually a bit pricier than going to a local repair shop. But, the beauty of going to the dealership is that you can be confident that the work will be done correctly. For all complex repair jobs, I take my car to the dealership. Years ago my wife took her car in to have the timing belt changed at a local repair shop. She had to take the car back three times before the repair was done properly (and I will argue the car never really ran the same after that “repair”). Time is money and who has time to deal with that?

Diagnose problems – If your car is not running properly, then diagnose the problem yourself before taking it to the mechanic. There are many websites available in which you can input the symptoms and they will help you assess the problem. These sites will also give you an estimate of the cost to repair the problem. This way, you can speak mechanic when you take the car into the shop and hold them accountable when they estimate the fee.

Tire pressure – Keeping tires properly inflated will add life to your tires and improve the gas mileage of your vehicle. Check your tire pressure regularly. One of the things I like about my car is that it has an automatic indicator to let me know if my tire pressure is low.

Do it yourself – I am neither mechanically inclined nor do I have the time to spend tinkering with my car. About the only task I perform on my car is to lubricate my car door hinges with WD-40 when they start to squeak. However, if you plan to do certain repairs yourself, get the factory repair manual to guide you through the process. This investment will pay for itself in one repair.

AAA – For the nominal annual fee, you can not beat AAA. The member benefits are too great to list here. Additionally, their group rate savings programs will more than offset the annual fee. I save ten percent on my auto insurance through the AAA group rate and always get AAA rates when booking a hotel (this saved me $60 / night on a recent stay).

Warranties – All car warranties are different. Every new car purchased will include a warranty from the manufacturer. Certain used cars also come with a warranties. Review the warranty when you are in need of any repairs and see if the costs are covered. Also, before the warranty expires, have the car inspected and have any qualifying repairs performed.

A recent article by US News and World Report shed some interesting light on just who really is "middle class' and who is not.  If you have always wondered how you fit in, check out these statistics from the article:

Income: Household income for the middle class ranges from $51,000 to $123,000 for the typical four person, two parent household with the median income being $81,000.

Housing: The median home size for those in the middle class is 2,300 square feet

Cars: The typical family has car expenses of $12,400 for two medium sized sedans.

Saving for College: The typical middle class family saves just over $4,000 per year for their two kids.  The article says that this amount of savings should cover 75 percent of the expenses at a state university.

Medical Expenses: It seems that the average middle class family spends just over $5,000 per year on health insurance and other out-of-pocket medical expenses and the article notes that this category is the fastest growing expense in a family's budget.

Vacations:  Now here is where it gets interesting.  The article says that the average cost of a family vacation for four is $3,000 and that families that are slightly more affluent spend about $6,100.

Retirement Savings: The study indicated that the target savings goal should be 3.2 percent of income.  (However, if you have ever run even very basic retirement projections, you know that, depending on your age and current savings, a much higher savings rate is probably much more appropriate.  Shoot for at least 10 percent if you can manage it).

Everyday Expenses: The average middle class family spends about $14,000 per year on the somewhat descretionary spending categories of food, clothing, entertainment and other expenses.

Net Worth: The typical household has a net worth of about $84,000 but obviously that number varies widely with age and other circumstances.

Mortgage Payments and Other Debt: The average family devotes 18 percent of their disposable income to mortgage payments, car loans and credit cards. 

This is a question often asked by newlyweds: After marriage, does a good or bad credit rating of one spouse affect the other spouse?

The answer is that one spouse does not affect the other spouse directly. You continue to maintain your own credit rating and credit history regardless of whether you get married or divorced (and is also not affected by a name change after either event.) Credit that has been taken out in your name alone goes into the making of your individual history.

However a spouse's rating can indirectly affect you, by affecting your ability to establish a joint liability. For instance, suppose you want to take out a joint credit card or a mortgage. If one party has a poor credit score it might affect your rate. In this circumstance the spouse with the better score could take out the loan in his or her name alone.

Something else to consider is why one spouse has a low credit score. Does that person have poor credit habits, making payments late or building up a lot of debt? In this case you might want to keep all of your credit separate. Both parties on a joint loan are liable for the debt, regardless of who is responsible in your eyes for making the payments, and it affects both your credit scores.

On the other hand, taking out a joint loan and making sure you stay current may be a way to help the spouse with a poorer score to boost his or her numbers.

It is important for both spouses or partners to be upfront and honest about their credit history. It could affect your ability to save together for retirement, vacation, or other goals.

One of the most popular credit card related questions I see is "I have several credit cards that I no longer use, I'd like to get rid of them but I don't because I think it will hurt my credit score".  While it is true that your credit score can be hurt by closing out a lot of your accounts all at once, it generally still makes sense to close at least some.  This statement is especially true now that several credit card issuers are beginning to impose inactivity fees if you don't use your card at least once every twelve months.

In order to decide which cards (and how many cards) to close, you need to look closely at your credit utilization ratio.  This ratio is computed by adding all of the credit card debt you owe and dividing that figure by the total credit limit you have across all your cards.  For example, if you have $10,000 in total credit card debt and you have 10 cards which each have a $10,000 credit limit, your credit utilization ratio is 10 percent ($10,000 divided by $100,000).  If you close out two cards that you no longer use, your credit utilization ratio would increase to 12.5 percent ($10,000 divided by $80,000).  This relatively minor change in your credit utilization ratio would likely have only a very small impact on your credit score.  However, closing out 7 of your cards could send your ratio soaring which would likely result in a hit to your credit score.  So, the plan should be to get rid of cards you don't use gradually.  Alternatively, you can agressively pay down debt so even if you close some accounts, you can keep the ratio unchanged.

Yesterday one of my colleagues came into my office with a smirk on his face. On occasion, he provides some financial advice to his sister. For months he has been telling her to review her monthly bank statements and keep her costs under control. These requests had fallen on deaf ears. Finally, she reviewed her bank statement and noticed that her bank account was being charged $60 per month for her gym membership. The unfortunate thing is she moved over two years ago and had thought the membership was cancelled at that time. She had not checked her bank statement in over two years and thus had never seen the charge. If she had spent a few minutes of time, she would have approximately $1,400 more money in her checking account. We both got a slightly sinister chuckle out of the matter and discussed how people can be negligent with their finances.

Fast forward to last evening. One of my credit cards has just expired and I was updating the billing information for my internet, television and Fast lane accounts. For all of these services, I have signed up for automatic monthly payment where my credit card is charged automatically. The monthly fee for these services is stagnant and I see the fee when I receive my credit card statement. However, I do not look at the actual internet or television invoice (i.e. the Verizon invoice or the Dish Network invoice). This is mostly because I do not receive an invoice in the mail for these services, but can access them online. Needless to say, I rarely check the invoices online.

I logged on to my Dish Network account and by chance started reviewing the most recent monthly invoice. I noticed a $7 monthly fee being charged to my account for a warranty / service plan. I immediately called Dish Network and spoke to a customer service rep. I told the gentleman that I had never signed up for this service and wanted it cancelled. Additionally, I requested that I be refunded all past amounts as I had not signed up for this service. He informed me that all Dish Network customers are automatically enrolled in this plan when they sign up for the service. He told me the fee has been itemized on all of my monthly bills. I was a bit embarrassed. I have been a Dish Network customer for three and a half years and, subsequent to the first month or two, had not reviewed a single invoice. I am sure the customer service rep got the same sinister chuckle that I had earlier in the day.

We all hate paying bills. It is a time consuming bore. While automatic bill pay and electronic statements do save us time, they carry some drawbacks. My collegue’s sister is out $1,400 and I am out about $300 because we failed to spend even a few minutes over a several year period to look at our statements and invoices. We continued to pay for services even though our lives and circumstances had changed. The companies that provide us services know this. Consequently, they push heavily to promote auto pay and electronic payment. Consider taking an hour this month and reviewing all your invoices and bank statements. Look for services that you no longer are using and have them cancelled. Like me, you may be surprised at what you find.

March is Spring break time, when thousands of college students head to warm climates for week of sun and fun. However you don't want to be carefree and footloose with your money. Here are some tips for smart spending:

1. Figure out how much money you have to spend during the trip so you know your budget.

2. Plan on using your debit card, or your credit card only if you know you can pay it off in full when you return. Students typically have very high credit card rates, and your trip can easily cost double or triple if you charge it and then pay it off in increments. For example if a $500 charge on a card with a 20 percent interest rate is paid off at $10 per month, the total cost will be $1,040.

3. Pack the hotel room – sleep as many as you can to a room, but be sure to check with hotel management before doing so. You want to adhere to their rules.
4. Buy your own food. Find a local grocery store and buy a cheap cooler to bring at least drinks and snacks with you during the day.

5. Limit alcohol consumption. This is not only for health and wellbeing purposes, but because those fruity drinks are very expensive.

6. Don't bring all your bank and credit cards. Bring only one card and keep very good care of it, along with your ID and/or passport.

7. Use ATMs sparingly. Most likely you will be paying a fee to use an out-of-network ATM machine. Take out enough money to last you 2-3 days to limit these fees.

Flexible Spending Accounts (FSA) are a great way to reduce your taxes but you can lose money if you don’t spend it before the end of the year. FSAs allow you to set aside money on a pre-tax basis for deductible medical expenses that are not covered by your health insurance plan. However, any funds left in your FSA account are forfeited if not spent by the end of the coverage period which is typically Dec. 31. Some plans will allow you to get reimbursed for expenses incurred after Dec. 31 but it depends on your particular plan so be sure to check with your employer.

FSAs are employer-sponsored accounts that allow employees to make pre-tax contributions. The contributions can be used by the employee to pay for out-of-pocket medical expenses (i.e., deductible medical expenses that are not covered by the employee’s health insurance plan). Employee contributions in a FSA are “use-it-or-lose-it” meaning that the employee needs to spend the money in the account before the coverage period ends otherwise the unused funds will be forfeited. The coverage period depends on your employer’s specific plan however, many plans follow the calendar year.

If your coverage period ends on Dec 31 and you have not used all of the funds in your FSA here are some medical expenses that are typically covered.

* Deductibles and co-pays for medical and dental visits and treatments.
* Medical expenses for dental treatments including fees paid to dentists for X-rays, fillings, braces, extractions, dentures, etc. Generally, teeth whitening expenses are not deductible medical expenses.
* Fees for acupuncture or chiropractic treatments.
* Medical expenses for an inpatient's treatment at a therapeutic center for alcohol addiction. This includes meals and lodging provided by the center during treatment.
* Fees for ambulance services.
* Medical expenses for breast reconstruction surgery following a mastectomy for cancer.
* Medical expenses for special equipment installed in a home, or for improvements, if their main purpose is medical care for you, your spouse, or your dependent.
* Contact lenses needed for medical reasons and the cost of equipment and materials required for using contact lenses, such as saline solution and enzyme cleaner. You can also include expenses for eyeglasses and laser eye surgery or radial keratotomy.
* Medical expenses for in-patient care at a hospital or similar institution if a principal reason for being there is to receive medical care. This includes amounts paid for meals and lodging.
* Insurance premiums you pay for policies that cover medical care.
* Medical expenses for psychiatric care and psychoanalysis.
For more information about deductible medical expenses, visit the IRS’ web site and review Publication 502. http://www.irs.gov/publications/p502/ar02.html#en_US_publink100014786

What is the deal with the plan I heard about for a "cash for clunker-appliances" scheme? Is it or is it not for real, and being implemented as part of the Mass income tax filings?

In mid-July the U.S. Department of Energy (DOE) announced $300 million dollars of funding for the Cash for Clunkers Appliances program. This program is one initiative under the American Recovery and Reinvestment Act of 2009 (ARRA). The program is expected to begin in late 2009 and earlier 2010 and will provide consumers with rebates of as much as $250 dollars for the purchase of energy efficient appliances.

Each state and territory that chooses to participate will administer their own rebate program. All 56 states and territories have agreed to participate however; it is unclear how many of them have submitted proposals to the DOE detailing their individual programs as of the Oct. 15 deadline.

I was recently looking through one of my wife’s magazines (obviously it was not a very exciting day in the Downey household). One of the articles I came across noted that it cost over $6,700 to raise a child in his or her first year of life. My daughter Madeline just turned one so I had a bit of knowledge on this subject. At first I thought the number was quite high, but as I started adding up the numbers, to my chagrin, I realized we had probably exceeded the $6,700 annual cost.

As first-time parents, we erred financially in many ways. However, we have learned a bit during this first year, and if the Lord blesses us with another child, we now know of a few areas where we can save some dollars. Here are some areas I think parents can save some money in the first year of a child’s life:

On June 24, 2009 President Obama signed into law the “Cash Allowance Rebate System”. This law is affectionately known as “cash for clunkers”. The program provides a US Government credit to new car buyers when they purchase a new more fuel efficient vehicle and trade in a less efficient vehicle. The program will run from July through November 1, 2009. Here are some of the details of the program:

If you are shopping for a used car and want to know more about the vehicle’s history, check out the NMVITS for a report on the vehicle’s title history and current and past condition. The National Motor Vehicle Title Information System (NMVITS) was created provided by the Department of Justice (DOJ) to provide consumers with information about a used vehicle’s condition and history. This resource can provide you with valuable information about a used vehicle before you purchase it and potentially save you a lot of money and aggravation.

The NMVTIS was created to protect consumers from fraudulent activity and from purchasing potentially unsafe or stolen vehicles. The NMVTIS reports include information about a vehicle’s title history, recent odometer reading, current and prior condition (e.g., junk, salvage, flood, etc.) and historical theft history. The information in this system is compiled from various sources including state motor vehicle titling agencies, insurance carriers, auto recyclers, junk yards and salvage businesses.

Today is the first day of Spring and I know for many of us it's been a long winter. But now the snow is (hopefully) behind us, the weather is turning milder and it's time for some rejuvenation. Here are some tips for spring-cleaning your finances:

Clean out your files: get rid of old bills, statements and other outdated documents. Keep tax returns and supporting documents for 7 years, and keep receipts or credit card statements for big ticket items that you still own. Be sure to shred anything you are discarding - never put anything with personal information on it into the trash.

Clean out your closets: take old clothes, toys and household items to a local charity: Bring canned goods to your local food pantry. If you get a receipt from the non-profit organization you can take a tax deduction for your donations.

The other day a friend forwarded me an email she had received from her friend (always a warning sign, right there). The email warned that cell phone numbers have now been released to telemarketers, and that I should call an 800 number to put my cell phone in the “Do Not Call” registry. I immediately went to www.snopes.com, a great place to check out rumors and urban legends. Sure enough, the “cell phone and telemarketers” rumor was mentioned right there on the home page. This one turns out to be pretty harmless, although some people have reported being charged a fee after calling the toll-free number. But it got me to thinking – what other ways are we being scammed, hoaxed or just nickel-and-dimed on our cell phones?

As part of this week's Spending Smart coverage on Boston.com, Andrew Chan, founder of Integrative Financial Advisors and Managing Your Money blogger, takes readers' questions today at 1 p.m.

According to the Giving USA Foundation™ charitable giving for 2007 exceeded $300 billion dollars for the first time in history despite the tough economy. Historically, a large majority of these donations occur during the last three months of the year. There are many good strategies to ensure that your donations are being made wisely and being used for your intended purpose. However, spontaneous and unplanned monetary donations can sometimes lead to giving beyond your means.

One strategy that can help to prevent this, especially during these difficult economic times, is to include your intended donations in your monthly budget. You can start by setting aside a certain amount of money each month that is earmarked for the charities that you will donate to. Once the money has been set aside you can let it accumulate and make the donation all at once or you can set up a periodic donation to the charity.

Including your charitable donations in your budget allows you to effectively treat it as a planned monthly expense. It spreads out the impact of giving over the entire year rather than just during the holiday season. This gives you better control over the timing and amounts of your donations while still letting you accomplish your charitable intentions. Regardless of the method you choose, you should make sure you still keep good records in order to receive the tax benefits for making those gifts.

Keep in mind that monetary gifts are usually best for charities because it allows them the most flexibility to accomplish their goals but donations of non-monetary items such as goods, services or your time are also excellent ways to give back.

Happy Thanksgiving!

The Christmas season is fast approaching. It's the busiest shopping time of the year and as you step up to the check-out counter, get ready for the inevitable offer to open a store credit card. The offers may be very tempting this year - as much as 25 percent off your first purchase. But a close look at the terms and conditions of the card may make you say "no, no no" instead of "ho, ho ho."

Be sure to take a few minutes to read the fine print before signing the account application. Step out of line if you have to - don't be pressured to act quickly. Look for annual fees - if you're saving $25 today on your $100 purchase, but will have to pay a $50 annual card fee, then you're not saving anything. Also take note of the annual percentage rate, which is often higher than 20 percent. You could end up with hefty finance charges if you are not able to pay off the card balance within the billing period.

Finally remember that too many credit cards can hurt your credit score. Stick with a few cards that you can use everywhere, give you rewards you can use and have reasonable interest rates.

It's that time of the year again -- time to start seriously thinking about how much you will spend on health care and dependent care expenses in 2009.

"Open Season" will be starting soon and that is the time period towards the end of the year when employers ask employees if they want to participate in flexible spending accounts. I am a huge fan of this employer benefit and it is always disappointing to learn that, on average, only a third of eligible employees sign up when such a plan is offered.

With flexible spending accounts, you can deposit pre-tax money in account that can be used to pay for out-of-pocket healthcare and chilcare expenses. Maximum contribution amounts can vary by employer but most permit contributions of $2,500 to $5,000.

If you are in the 33 percent tax bracket and you contribute $5,000 to a flexible spending account, you will save $1,650 in federal taxes. So, if you are considering laser eye surgery some time in 2009, consider paying for it using a flexible spending account -- its like getting a discount equal to your marginal tax bracket.

The "catch" is that you have to be very careful in estimating your 2009 expensense. You lose any money that you don't spend by December 31, 2009 ( or March 15, 2010 in some plans).

If you heat your home with oil like I do, now might be the time to look into a rate lock plan with your oil provider. Oil prices fell yesterday to their lowest level this year. Demand is dwindling and supply is increasing.

Prices for home heating oil are now at or close to $3.00 per gallon if you belong to one of the mass buying agencies like MassEnergy. That is more than a dollar less per gallon than the price in May, June and July of this year.

It is important to note that this is the "daily" rate, meaning that this rate will fluctuate during the heating season. The price could be $3 now, but $4 or more in just a few weeks or months. If you want to lock in a fixed price for the winter, you will probably have to pay more than this rate, probably something like $3.30 to $3.45, but then your rate will be guaranteed for a fixed number of gallons. Of course, it is also possible that prices will continue to fall. You never know. However, I do remember thinking that the $2.59 price I locked in last winter was outrageously high and now I only wish I could find a rate that low. My plan is usually to lock in a fixed number of gallons that will get me through the winter and then float to the market rate for the deliveries that will occur in the late Spring.

Checkout this website to compare oil prices in our region and visit this website to learn more about the MassEnergy program.

How many old gift cards are you carrying around in your wallet? And how many are at the back of the drawer in your kitchen? If you are like most people, you probably have a decent number of gift cards hanging around and, while you expect to use them some day, you never seem to get around to it.

But did you know that if a retailer enters bankruptcy proceedings, they probably don't have to honor your gift card even if the store is still open? It might surprise you to know that bankruptcy courts consider gift cards to be loans to the company. If a merchant wants to be able to honor gift cards while it is in bankruptcy proceedings, it has to petition the court to allow such an action. Shoppers can lose the value of the card if the merchant doesn't make the request or if the court denies the request.

Fortunately, these rules might be changing. The Consumers Union filed a petition last week with the Federal Trade Commission to require retailers to honor gift cards as long as the store is still open. For more information on this effort, check out this article in The Baltimore Sun.

The take-away from this story? Get out there and start spending those gift cards. You never know when a company might declare bankruptcy. The Sharper Image and Linens and Things are two high profile retailers who recently declared bankruptcy.

There is a lot of ground to cover with Flexible Spending Accounts (FSAs) so I have decided to make a two-part entry. Yesterday, I talked about how FSAs in general terms. Today, we tackle some specifics.

First, you would probably be surprised to learn how many things are considered eligible health care expenses. There are the usual expenses that everyone would expect to be covered, like office visit co-payments and glasses/contact lenses, but it might surprise you to know that the following are also eligible medical expenses:

Acupuncture
Dentures
Braille Books and Magazines
Chiropractor Expenses
Guide Dogs for the Blind
Hearing Aids
In-Vitro Fertilization
Laser Eye Surgery
Orthodontia, and
Smoking Cessation Programs

Examples of expenses that would not be covered would be:

Cosmetic Surgery
Health Club Dues, and
Teeth Whitening

Dependent Care FSAs would cover childcare expenses for children under the age of 13. In certain circumstances, expenses for older children would also be covered but generally the child would have to live with you and be incapable of self-care.

For a full list of eligible expenses, check out IRS Publication 502 and remember that your employer may omit some of the items on the list.

To participate in your company's FSA, you must enroll within 60 days of your date of hire, within 60 days of a qualifying event (usually a marriage, birth, divorce or loss of a spouse's insurance coverage), or during Open Enrollment (which typically occurs in October or November of each calendar year.)

Your annual election amount is taken evenly from each paycheck you will receive over the year and contributions automatically terminate when you end your employment. It is also important to note that coverage for qualifying expenses ends the month that your last contribution is made so you would be in trouble if you quit and then had your laser eye surgery the following month.

It is critically important that you very accurately predict your medical and dependent care expenses. This can be difficult because you are projecting into a future year and circumstances can change. However, you don't want to over-conribute to these types of accounts because you must forfeit any funds not used for valid expenses. Some plans offer a "grace period" and allow you incur eligible expenses through March 15th of the year after you elect coverage. Check with your benefits department for more details.

If you are thinking of contributing to an FSA for the first time, keep your eyes open since Open Enrollment could start in just a few weeks at your company. If you are already contributing to an FSA in 2008, now is the time to re-examine your expenses and make sure your spending is on target -- you don't want to find yourself short on eligible expenses at the end of the plan period.

From an investment standpoint is it better to put $3,000 in a flex account to cover my medical/child care or put the $3,000 in a tax deferred 401 plan? If I put it in the flex, I will save $900 in income taxes, but I don't know how to figure if that is really the way to go. Thank you.

I actually don't think this is an either/or question. You would only consider allocating $3,000 to a medical and/or dependent care flexible spending account (FSA) if you knew that you would have medical or childcare expenses that total at least $3,000. If it is a "given" that you have those costs, you will be paying $3,000 in expenses one way or the other. If you can use before tax dollars to cover the expenses by paying for them using an FSA, that is a pretty good deal because you will be getting a "discount".

Your question suggests that you might have $3,000 "extra" to invest. Contributing that amount to your traditional 401(k) would be great and doing so would reduce your taxable income by $3,000 -- just like contributing $3,000 to your FSAs. In addition, the $3,000 contributed to your 401(k) will grow tax deferred for many, many years

FSAs are a great employee benefit and nearly everyone who is eligible should consider participating. In a nutshell, FSAs are tax advantaged programs offered by employers that allow employees to pay eligible medical and childcare expenses using pre-tax dollars.

When you use an FSA to pay for these types of expenses, it is like getting a free discount on expenses you would be paying anyway. The discount is equal to the tax you would have otherwise paid on the money you contributed to the FSAs.

In this example, the person's taxable income is reduced by $3,000 and the "discount" they capture is equal to the tax they would have paid on that $3,000. The exact savings will vary from person to person depending on their marginal tax rate.

You can use a medical flexible spending account to get reimbursed for eligible medical expenses and you can use a dependent care flexible spending account to get reimbursed for qualified childcare expenses for children under the age of 13.

There are no statutory limits on contributions to medical flexible spending accounts, but employers often impose their own limits of $3,000 or $5,000. The limits for dependent care flexible spending accounts are $5,000.

These accounts really are worth the added headache of the associated paperwork. For example, have you ever considered laser eye surgery? This procedure can cost as much as $5,000 and it is not generally covered by insurance. If you can plan ahead and allocate $5,000 to your medical FSA, you can "save" $1,650 on this procedure if you are in the 33% marginal tax bracket. That's probably worth the cost of submitting the required reimbursement forms.

Volkswagen is introducing a new minivan to the US market next month and it is also introducing a fairly innovative incentive. If you purchase or lease a Routan minivan by August 31, 2008 and take delivery by November 30, 2008, Volkswagen will deposit $1,500 into an account held by its partner in this effort, Upromise. Money deposited into the Upromise account can then be moved into a Section 529 college savings fund. The cost of the brand new Routan ranges from $24,700 for the S model to $38,400 for the SEL. For more information on this offer, you can visit the Upromise website.

Volkwagen reports that 6,000 people have signed up for the offer so far, but is this really a great deal? Maybe, maybe not. Oftentimes, when dealers are running special promotions like this, they are less willing to "deal" on the price of the car. So, you might get a $1,500 contribution to a 529 plan but maybe if they weren't running a special, you would have been able to pay $1,500 less for the car simply by being an aggressive negotiator. You are probably still coming out a little bit ahead with promotions like these (and the ability to negotiate well) but you probably aren't really getting a $1,500 windfall.

That being said, are there really any "no brainer" ways to grab free cash for college? The Upromise program is probably as close as you will come. Upromise has been around for about 7 years and it has more than 8 million members. The company reports that its members have earned over $425 million in member rewards. Membership is free and you earn credits by shopping at grocery stores, drug stores, gas stations, and restaurants that are part of the Upromise network.

I also like the credit cards that credit a percentage of everything you charge to a 529 account. My favorite is the Fidelity 529 College Rewards Card. 1.5 percent of everything charged on this card gets credited to a Fidelity-managed 529 account. There is an annual maximum reward contribution of $1,500 but you would have to charge over $100,000 per year in order to bump into that limit. Grandparents and other relatives can also get their own cards and their credits can be directed to your child's 529 account. If you pay off your credit card bill each month, this could be a good card for you. With college costs rising so rapidly, every little bit helps.