Interest
When it comes to Stafford or Perkins loans, use as much of your deferment as possible in the first few years and you will save yourself hundreds if not thousands of dollars in the long run. You'll save even more if you can claim low income / economic hardship / health problems / etc (note: they hardly ever ask for backup documentation). Here's how it works: While in deferment, the government pays the interest on your loans. You don't pay anything! Each year that the government pays your interest, you are more or less "saving" 3% (estimated inflation rate). However, be careful, this only works on government subsidized student loans with a fixed interest rate.
Credit card companies will never admit that they will reverse financing charges and/or late fees once per year, but they do. Don't waste your breath on the first customer service agent that answers the phone, they generally lack the credentials. Ask to speak to a supervisor and then plead your case (examples: Online payment wasn't working, you have been traveling a lot recently, your bill did not arrive in time, you always pay your bill in full and would really appreciate a credit this one time, etc.). If you don't get anywhere with the supervisor, ask them to transfer you to someone so you can cancel your card. Now you can do the same thing with the retention department, remember they want to retain you; the ball is in your court.
Shout-out: articles.moneycentral.msn.com
Even if you have the cash to pay for your big ticket items, don't, get an interest free loan instead. Apply for the stores credit card / promotional deal - make sure to ask the following: (i) is any interest charged before the due date; (ii) are there any prepayment penalties; and (iii) is there any cost for canceling the card once it is paid off in full. If the answers are all "NO", sign on the dotted line. Now, take the money you were about to spend and put it into a cd or high-interest savings account (any legitimate bank can help you with this for free).
The math: Put the $2,500 you were going to spend on your 50 inch plasma in 2-year cd earning 5.25% apy and you will earn $262.50 over the next 24 months. Now you can go watch your tv for two years while you earn money. Note: This will not work if you miss the final payment date because usually companies will charge the interest retroactively.
Shout-out: articles.moneycentral.msn.com
