More than half of Internet surfers now use high-speed Internet services provided by cable or phone company. That number has grown very slowly because the cost is so high. The average monthly cost for high-speed Internet access is $50. That’s because the cable and phone companies are monopolies and they are charging whatever they want at this time. Even people in third world countries have surpassed the United States in this area. But that is all about to change, and it could be up to your city or county government to make that change. You’ve probably heard of “Wi-Fi” or wireless fidelity, which means people can go to a store or area that has a Wi-Fi network and connect wirelessly to the Net. Now “Wi-Fi mesh technology” is coming on the scene and it allows entire cities and counties to connect wirelessly. It’s happening already in Jacksonville, Florida and Minneapolis, Minnesota. Now, Philadelphia and Boston are both considering “Wi-Fi mesh.” Some areas are charging between $10 and $15 a month; others are thinking of not charging a penny. So, this third player is going to crush the cable and phone company costs, which is great for us!
Some of the best information on the show comes from callers who are getting railroaded by companies. One of those callers was David, who had gotten a check in the mail for $2.50. He didn't know it at the time, but the check was from a company affiliated with Avis rental car, a company with whom he had done business. If David deposited the check, he would give Avis rental car permission to give his credit card number to the other company. That company would then charge his credit card a $90 membership fee that would be automatically renewed every year. It was the first time Clark had heard of a non-bank or financial institution doing this, so he wanted to find out if it’s legal. Shockingly, it is. Any airline, car rental company or other business can share your personal information with an affiliate that can charge you money. Avis refused to go on the air about the check, but the company sent a letter saying it would not pass on personal information without the customer’s permission. They are able to get permission because customers are cashing the non-descript check with the mice type on the back. It’s underhanded and unscrupulous. If you get one of these checks, PLEASE do not cash it to make a quick buck. It’s not worth it!
Clark wants you to go out and look at cars for two reasons. First, data from the month of August shows that car sales were horrible last month. Honda sales were down 14 percent. Toyota was down 10 percent, and GM was done 14 percent. Car companies are having a pretty bad time this month and the deals are extra good right now, especially if you buy 2004 models. Add into the mix that sales have been low for Japanese car companies, as well, and it exacerbates the problem for auto makers. They desperately need you to buy the 2004 models, and you can use that to your advantage. If you are going to keep a car for five years or more, buy the 2004. If you’re going to keep it four years or less, buy the 2005. Your pocket book will be smiling. Clark has told you why to buy a car. Now he’s going to tell you why not to buy a new car. The credit bureau, Experian, says the average amount people finance on a car is $23,000. The average car payment is just under $400, and about 40 percent of us carry an auto payment. That means 60 percent owe no money on a vehicle, which is great. So consider staying in that group before you go out and buy a new car. Do you really have $400 extra dollars to spend every month? Or would you be better off keeping what you have and waiting a while?
If you were planning to travel over this holiday weekend, but you’re worried about Hurricane Fran, Clark wants to tell you the facts about refunds and changes. In the travel industry, there are no uniform policies. Airlines have their rules, hotels have theirs and so on. At this point, United has the most generous policy for rescheduling a trip to affected areas. The company allows you to waive any change fees or penalty fees. The other five full fare airlines – Delta, Continental, American, US Air and Northwest – have varying degrees of very tough policies on rebooking. Unless you can reschedule your trip in the next few weeks, you will forfeit your ticket. American, for example, is only giving people until September 13 to reschedule a trip. That is ridiculous! Southwest on the other hand never has a penalty fee. JetBlue and Air Tran are both waiving fees and AirTran is giving people a year to rebook a flight. If you’re booked on a cruise, the industry’s basic position is that if the port is open, the ship will sail. The company may change the itinerary and even the port. They may just sail into safer waters. If you bought airfare from a cruise line and the flight has been canceled, the cruise line will make arrangements with you to reschedule. If you bought the airfare separately, you are on your own
Many courageous men and women have taken on the call of duty and become soldiers & sailors for our country. These people sometimes pay the ultimate sacrifice for their country, and they deserve the utmost respect. But some financial groups are selling phony investments to our military men and women and ripping them off. Often, soldiers and sailors are very young and they have a decent amount of money burning a hole in their pockets. The trouble is that they don’t know how to spend their money. People come onto the bases with investing ideas that sound good, but really aren't. Then, they run off with soldiers’ money. Max Burns, a Congressman from Georgia, is fired up about this and is doing something about it. He’s been working with several other leaders to draft legislation that will prevent these abuses from occurring on bases in the United States and overseas. They want to make sure the legislation is crafted correctly, but they’re trying to get it passed through both houses this year. People need to be aware of this problem, first of all. If you have a loved one in the service, make sure that person knows about the financial choices he or she is making. Secondly, contact your congressmen and women to make sure they are on board with the bill that will protect our soldiers. Sometimes the soldiers don’t even know what financial programs they are participating in, so educate them and yourself!
If you subscribe to any magazines, you will find that several magazine publishers have pulled the expiration date off of your mailing label. They don’t want you to know when it expires, so they’ll send you renewal notices at least a year ahead of the expiration if not more. When you get those notices, when do you renew? Almost never! Unless the mag is offering you a great deal, don’t do it. But if you tear out a subscription deal inside the magazine, you’ll notice that new subscribers are getting a much better deal. Also, if you let your subscription expire, you may be offered a great deal. Beware of third party companies that sell magazines subscriptions. They will charge you up to three times as much as the magazine itself. Just sign up only when it’s a great deal. They will always try to get you to come back.
