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Sai Malini: 7 Deals You Should Never Make

It looks like a bargain, it looks like a negotiation, it must be a market-right? Not always. When it comes to many financial options there, what seems at first sight very often anything but fair treatment. You save serious money problems if you understand the real cost of any financial decision if you transfer a balance or to help your child choose a college. Here are the deals you do not want to do (and 3 offers that are worth their weight in gold). According to Federal Reserve data, the average loan term of new cars is 63 months.ten months is more than a decade ago, and, simply put, is a waste of money. Your car is a depreciating asset after only one year, its value will be 30 to 50 percent less. So do not pay interest on longer than you owe. Say you buy a product that often is 15 percent off if you decide to buy in bulk. Pay with a credit card could get you into trouble. If you buy $ 350 worth of merchandise at a discount of 15 percent, your bill will be $ 298.But if $ 298 goes on your credit card at 20 percent interest and you pay only the minimum each month (usually about 3 percent), it will take two years and $ 67 in interest payments. Limit your outside costs and expenses seems intelligent, but only with a deductible of $ 250 or more, you're more likely to file small claims in the event of accident or loss of property. It is a quick way to get the wrong side of your insurance your premium may increase at renewal, or your insurer may refuse to keep you as a customer.Your teen understands the need to include a school safety and your job is to ensure that every school she applied is financially strong, too. A college education can be extremely valuable, but it makes no sense to build up a massive debt to get one. And I can not stress this enough: Do not deplete your retirement fund to pay for college. This money must continue to work for your future.If your teen is an academic leader, scoring well on Advanced Placement tests may reduce the work required at the university, and less than 40 percent of students graduate in four years and a fifth year may add 25 percent the total cost that is a huge leg up. Keep in mind that the average tuition at a public college for four years for school year 2009-2010 was $ 7,020 compared to $ 26 273 for a private college.