Thirty-year home loans are running under 5% right now, which is down from 6.4% as recently as last summer. These rates are lower than they have ever been and many homeowners are flocking to refinance their homes. In fact, the boom has created a new source of business for mortgage brokers who have struggled with the slower housing market.

So, when should you refinance your home? The first thing to consider is whether or not you even need to refinance your home. Those who plan to pay off their loan over the next few years have no reason to refinance because they won’t be paying monthly bills long enough for the savings to cover the costs, which often reach around $2,000 or so.

On the other hand, those homeowners with an adjustable-rate mortgage should strongly consider refinancing. ARMs are a very risky mortgage because interest rates could go higher and your monthly payments could skyrocket as a result. Refinancing into a 30-year fix-rate loan may not cut monthly payments much by now, but it would reduce risk over the long-term.

As a rule of thumb, homeowners should look for a payback in a couple of years. Generally, if you can earn the costs of earn the costs back within two or three years, and it’s a home that the homeowner’s prepared to own for much longer, then refinancing is a good idea.

A night out at your favorite watering hole can cost you a pretty penny. Yet, you don’t have to forgo staying in just to save money. If you go to the bar with a budget, you can have fun and save money!

One of the best tricks in the book is to simply drink before you go out. Have a drink or two at home before you go out so you don’t have to start fresh with high-priced beers and cocktails. The price of alcohol and beer bought from the grocery store is dramatically cheaper than that from the bar. The same goes for food. Avoid ordering costly food at the local pub by eating before you go out.

Once out, ask for prices before ordering. This will allow you to know what you’re getting and for what cost without blindly emptying your wallet on the first drink.

Savor your beer. In other words, the slower you enjoy your drink(s), the less you drink and the less you pay. It is also wise to substitute water for a drink every other round. Water is not only free, but it’ll keep your appetite at bay.   

Avoid shots. Shots are the most marked up item at bars. Do not offer to buy the whole bar a round of shots, either. If you do enjoy a shot hear and there, hold tight to your taste buds and stick to rails and avoid top shelf liquor.

Rebates are an excellent way of saving, right? Right – as long as you use them. The thing about rebates is that they allow you to save, but you have to put in a little time and effort to do so. Most people lose or forget about their rebates, so they never get used and people lose on savings.

Rebates are popular with companies of every sort. It allows the customer to believe they are saving every time they make an investment in an item that has a rebate offer attached. The thing is, you don’t save on that product until you receive your rebate check, and to do so, you have a few factors. It takes time to fill out the form (although very easy). With that, rebates are always time-sensitive, so you should mail it in right away. However, rebates are lost among receipts and forgotten about, and that means a loss on savings.

Every year, companies offer over $6 billion in rebates. However, it is estimated the over 40% of rebates are never used! That’s over $2 million in savings that are wasted. So, although you may purchase an item for $100 with a rebate offer of $20, do not consider your savings until you have received the check for $20. It takes time and effort, but it is worth it.

Rebates are a marketing tool used by manufacturers to increase sales, by lowering the cost of a product in the eyes of a customer, without actually dropping the price on the shelf. It is easier for companies to offer rebates to customers than to drop the shelf price and have to raise it again after the promotion ends. If companies drop the shelf price, money is lost every time to the company. With rebates, the money is not always lost and people don’t always utilize their rebates.  That is extra money for the companies.

This additional money offers companies the ability to collect interest or to use for whatever reason as they see fit. This concept is called a float. Many people take weeks to fill out and send in the rebate form, and then most companies take weeks to months to send back the check, which allows the company quite a bit of time with additional money. It is important to use your rebates and mail them in right after you make the purchase. Most of the time, you will not only need the rebate form, but also proof of purchase.

Just because times are tough doesn’t mean you shouldn’t continue to vacation. Get away, just do so on a budget. Whether you’re heading to take on the stereotypical Orlando vacation, or you’re venturing to the West Coast or maybe to the Rockies for some skiing, you can do some while being kind to your budget.

It is important to price-shop for your trip. Airfare, hotels, and restaurants all add up…quickly. It is best to check around you before you book.  Talk to local travel agents and discuss your ideal destination. The more options you’re open to, the better deals you may find. Travel agents may offer special package deals on hotel and airfare for specific destinations. However, check with a few travel agents before giving them your money. If you don’t want to go through a travel agent, travel websites such as Kayak and Travelocity offer deals and generally low costs for airfare, hotels, and car rentals.

When you do decide on the perfect trip for you and your family, set an itinerary with a daily and overall budget. It’s always a great idea to check out books from your local library on the destination of your choice – specific location travel books will offer restaurants, bars, amusement parks and attractions with a price range. Be sure to note the places with their prices ahead of time so you don’t throw off your budget too much when you end up eating at a five-star restaurant with a family of five because you didn’t know where else to eat.

Don’t be afraid to live like a local. This will offer a kind gesture to your wallet. Make a trip to the local grocery store and buy food to cook at the hotel or to pack a lunch for a day at the beach.  Also, beware of filling up the gas tank (if you’re renting a car) near the airport or downtown – prices will be exponentially higher. Ask the locals the best places to fill up, as well as eat.  They’ll offer you the best places in town that won’t be as costly as those in the tourist destinations.

Always check online before you go for discounted tickets and deals. Whether it’s for ski passes, amusement/theme parks, or museums, if you do the research, you’ll save. It is very common for museums to offer a specific day of the week or month in which they are free. Amusement parks and ski resorts work in partnership with other similar parks and resorts and offer discounted sales. It is easy to find discounts and coupons online for the place of your choice. 

Investors are quickly pulling their money out of the market in a move that many experts criticize as poor timing. These experts believe that the stock market has hit its lows and may bottom out in 2009, which means investors should keep their money parked for a turnaround. However, many investors remain concerned about their retirement funds after a year of huge losses. So, what are the alternatives for these investors looking for a good return on their money?

The answer: Banks. Banks are hungry for consumer deposits these days and that’s leading to record yields on savings accounts, certificates of deposit and money market accounts. Despite the fact that the Federal Reserve slashed its lending rates to between 0% and 0.25%, banks are still placing a high value on consumer accounts on their books as they see consumers as more than just a source of funds but also a list of leads for their other products.

The average rate on a one-year CD is 2.61% while rates on money market accounts average 2.06%, according to BankRate.com. There are higher rates, however, for those consumers willing to bank online. Bank of Internet USA offers a money market account that pays 3.26% while OnBank (M&T’s online division) offers 3.15% on its money market accounts. Others like ING Direct also offer rates in excess of 3% on their savings accounts.

Many business owners look at tax rates when considering which state to start their business in, but there are many other considerations that should be taken into account. Government incentives, worker productivity, available technology, and employee wages are just a sampling of the many factors that can be affected by your decision. The top state overall may surprise you… Washington!

Washington consistently places at the top of economic and business lists. The New State Economy Index ranks it second in the United States while the Small Business Survival Index ranks it fifth. The state also leads the nation in value added per production hour and offers very low taxes and doesn’t have its own income or capital gains taxes for persons or corporations!

Combine that with a highly productive manufacturing sector as well as a leading promoter of alternative energies and it’s easy to see how this state ranks among the best places in the United States to start a business!

U.S. citizens that work abroad may not be using any services from the U.S., but they still end up paying in a large amount of tax dollars. However, new tax laws proposed by president-elect Barack Obama may end up saving those foreign workers some cash. So, what are the current tax laws for those working abroad and how might the new tax proposals change what you owe?

Currently, U.S. citizens working abroad may qualify for foreign income exclusion of up to $80,000 if you satisfy two requirements: (1) You must reside in a foreign country for an entire tax year, and (2) your salary must be paid by a company or agency in your country of residence of by a U.S. company operating in that country. Also, only earned income – such as salaries, wages, fringe benefits – qualifies.

The biggest problem with foreign income taxes is the fact that you are usually double taxed. Workers abroad are usually required to pay some form of income tax to the country in which you reside and earn a salary. Meanwhile, you may also end up paying U.S. income tax if you don’t qualify for exclusions. The only exception are those countries that have agreements with the U.S., like Canada.

Obama’s new tax plans reduce the rates owed by workers abroad, but many of the same provisions remain in place. For more information on Obama’s tax plan, see Many Taxpayers Stand to Gain from New Laws on Yahoo! Finance.

The global economic crisis has brought with it many casualties, but one of the least expected ones is debt collectors. Typically, these unscrupulous companies make a good deal of money when consumer debts go bad by using their two favorite tools – phones and threats. However, many debt collectors are starting to realize that consumers really may be in trouble this time around.

Banks may be cutting consumers’ credit lines, raising card fees and pulling back on lending, but they are also trying to give consumers some room to get out from under their debt. After all, it’s hard to convince consumers to pay back a debt when there is no hope at the end of the tunnel. Unfortunately, that also makes it easier than ever for consumers to negotiate down their debt.

Lenders and debt collectors are therefore trying to recovery as much money as possible before things get even worse. This means that consumers are being able to see more of their debt forgiven, repayment times stretched out, and increasingly generous partial payments. Big settlements just aren’t there any more for consumers that no longer have assets to liquidate.

A recent article in the New York Times found that debt collectors saw the number of troubled borrowers getting payment extensions at least double in the last six months. In other cases, borrowers were offered deals that forgave 20% to 70% of their credit card debt. How can you do the same? For small debts, just call up your credit card company and ask for an extension. For larger debts, you may want to contact a professional debt settlement company that can more effectively negotiate.