(ARA) – The economic health of the country is all over the news, and people everywhere are worried about layoffs, retirement savings and the state of their financial affairs. An unemployment rate above 8 percent has everyone looking over their shoulders and counting their pennies. If you’re worried about what to do if you lose your job or just looking for ways to save money, your first step should be to talk to your bank about how you can make the most of your banking relationship.

Here are some simple tips to help you make the most of your money and utilize all the financial tools available to you:

* Keep track of your money and every dollar you save with services like online banking and alerts. Banks offer alerts to help you prevent unnecessary fees and to give you added protection in case irregular account activity is detected on your account. Use online bill pay services wherever you can to help pay bills on time and avoid late fees.

* Look for easy ways to save. Bank of America’s Add It Up program is a free online shopping Web site that rewards customers with up to 20 percent cash back on everyday purchases. If you need to make a purchase, look online for good deals (that often come with free shipping). With the Add It Up program, when you pay with your Bank of America debit or credit card, you can track your savings online and get cash back to the account of your choice. Remember to use online price comparison sites to find savings as well.

“We’re here to help,” says Matt Boss, senior vice president, mass market customer segment for Bank of America. “We have several ways to help consumers get the most from their money — from innovative cash back programs like Add It Up to easy-to-use tools that show people how to keep track of every dollar.”

* If you’re in your 20s, 30s or 40s, hang tight. Keep making contributions to your 401(k) account and speak with your financial adviser about how to safely balance your investments. Keep in mind that you’re investing in retirement for the long term and try not to panic about day to day numbers or stock market fluctuations.

* If you do lose your job, talk to your bank right away to find out which customer assistance programs are available to you. For example, Bank of America will waive monthly maintenance fees and refund non-sufficient fund and overdraft fees if you lose your job.

* Take advantage of the services your bank offers like rolling over your IRA. The bank can help you maximize your investments at a time when you need it most.

“Especially now, when budgeting matters more than ever, your bank can provide immediate opportunities with saving and spending that really add up and assist customers in managing their finances in the long run,” says Boss.

During difficult financial times, your bank can be there to help. You can start by making a reasonable budget, sticking to it and taking advantage of the financial tools available to help you manage your finances.

For more information, visit www.BankofAmerica.com.

Courtesy of ARAcontent

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Here are some tips for saving money:

* Eliminate stamps, envelopes and checks from your life. Take advantage of the many online banking and bill-paying programs available. Keeping digital records can also help you better organize and monitor your finances, which can help you better control your spending habits.

* Comparison shop online. For example, if you’re looking for a baby car seat, type in “baby car seat” into a search engine and start looking for the best prices with the best products. Make sure you check out consumer reviews, safety articles and even blogs for information. Get your calculator out, because sometimes the special deals promoted on product sites end up costing you the same — or more — than a regularly priced item.

* Look for coupons and coupon codes. This is an invaluable tip, because there are thousands of codes available for your use when shopping online. Go to www.shopaneer.com and search for discounts, free shipping offers and buy-one-get-one-free offers by product, store, category or the item you’re interested in.

Shopaneer has more than 10,000 special deals submitted by users, stores and companies. Any expired coupons are immediately removed from the site and there is a report button if you find a coupon that doesn’t work. If you are a frequent user, you can take advantage of the new coupons tab, so you don’t miss out on any of the fabulous deals.

* Bargain for swaps or special prices. This is where the junk lying around your house can become someone else’s treasure, and vice versa. Posting your unwanted items on auction or swapping Web sites can bring in extra cash, and bidding on an item can help you get a lower price than buying it at a store. Either way, you’re saving money.

* Use the Internet for any of those minor costs that can add up over time. For example, calling directory assistance for a phone number can cost as much as $1 per use. But with a quick search on the Internet, you can find the phone number and address without any extra charges. Or if you need to buy gas, it’s cheaper to search the gas price postings online before you head out the door so you’re not overpaying or wasting gasoline trying to find the best price.

Courtesy of ARAcontent

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Simply upgrading to the right high performance motor oil can improve fuel economy.

(ARA) – Automobile insurance rates, maintenance and repair costs and vehicle ownership expenses continue to rise. Gasoline reached record high prices in 2008 and the U.S. Energy Information Administration expects fuel prices to rise again in the future. Thankfully, you don’t have to alter your driving habits or buy a new car to get some relief. Here are some quick, inexpensive and easy ways to save money with your car.

* Get slick to reduce maintenance costs and to save fuel.

Upgrading to one of today’s modern high performance motor oils can make a meaningful improvement to your car’s fuel economy and engine life. For instance, independent studies have documented that Royal Purple motor oil improves fuel economy by as much as 5 percent and significantly reduces engine wear. Using high performance synthetic motor oil, as opposed to conventional oils also allows for more miles between oil changes, reducing maintenance costs and the amount of time spent on maintenance. You’ll pay a little more for premium motor oil but the savings in fuel and reduced maintenance costs more than make up for the higher price. You can find out more about at www.royalpurple.com .

* Reduce your insurance costs by doing your homework.

One of the simplest ways to reduce insurance cost is simply to shop around. Prices vary from company to company, so it pays to do your homework. Get at least three price quotes. You can call companies directly or access information on the Internet. Your state’s insurance regulator may also provide price comparisons. Other ways to reduce insurance costs can be found by visiting the U.S. Insurance Information Institute’s Web site.

* Mind the air to save money on fuel.

The U.S. Energy Department reports that under-inflated tires can increase fuel consumption by up to 3 percent. One study estimates that 50 to 80 percent of the tires rolling on U.S. roads are under inflated. Astonishingly, we could save up to 2 billion gallons of gas each year simply by properly inflating our tires.

Secondly, a clogged air filter can increase fuel consumption by as much as 10 percent. Air filters keep impurities from damaging the interior of the engine, so replacing dirty filters will save gas and protect your engine. More tips to save money on fuel are available at www.fueleconomy.gov.

An astute driver can save hundreds of dollars a year on automotive expenses without buying a new car or changing lifestyle. All it takes is a little time and research, and the good sense to choose better performing products.

Courtesy of ARAcontent

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