Plans for energy investment ‘will affect consumers’

Ofgem’s recent proposals to invest in renewable electricity generation will eventually have an impact on consumers, it has been suggested.

Price comparison site uSwitch.com said that although the investment is needed, it will eventually filter through so consumers are footing the bill.

It believes that the £233.5 billion investment programme could add around £548 a year to household energy bills.

Will Marples, Energy Expert at uSwitch.com, said: “Ongoing pricing trends coupled with this investment could see household energy bills hit as high as £4,733 a year by 2020 – nearly four times higher than they are today.”

He emphasised that although this may be an outside possibility, people need to act to make sure they are not stung by rising fuel prices.

uSwitch.com recently advised homeowners to take precautions such as keeping a torch and candles to hand in case more power cuts occur

Yep, it crashed, and crashed hard – my company issued notebook computer that is. When I’m at the home office, it backs up automatically, but since I’ve been out of town for the last two weeks, I have multiple audits that are now toast!

While I scramble to get Mozy Remote Backup installed on my primary blogging computer (just in case), check out these great links:

• How to Report Tax Fraud & Tax Cheats. I wouldn’t cross Jim … or the IRS! Considering the massive debt the USA continues to balloon, the Feds are going to be looking in every nook and cranny to find that next dime.
• Backdoor into the Roth IRA: You’re Invited to the Tax-Free Party. The rules have changed, and for once, they may actually be in your favor!
• Blueprint For How To Make Money With A Blog: Advice From Successful Bloggers. Pete reveal

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The weekly PF Twitter chat has grown over the past month and has been a great way for the personal finance community to join together on the network to discuss topics at hand to learn from one another and have fun.

Tonight I have to cancel the PF Twitter chat session.

I  have to attend a networking event and will be unable to make it.  I will reschedule the chat that was going to be co-hosted with @ptmoney for a future Wednesday night.

The sessions will be back next week at the regular scheduled time of 7 PM EST and I look forward to seeing all of you there.

On January 14th, Congress voted to increase the federal deficit cap to $12.4 trillion having  raised it from $12.1 trillion February of last year.  The bill was a concession by Democrats who had planned an attempt to increase the federal deficit cap by $2 trillion in order to prevent having to call another vote before next year’s midterm elections.  Already, Democrats are pushing to increase the deficit cap again by mid-February to prevent the U.S. government

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The simple interest formula is the base formula for most interest calculations used in finance. Interest is calculated based upon three sets of data: Principle, Rate, and Time. Principle is the amount borrowed, the rate is the percentage of the amount borrowed that is due, and time is the length of time interest is accrued. Putting it all together the simple interest formula is:

I(nterest) = P(rinciple) x R(ate) x T(ime) OR i=P(rt)

What Type of Loan Uses the Simple Interest Formula?

Loans which either pay interest once at maturity or pay interest only on a periodic basis typically use the simple interest formula. Payday and Title loans are the biggest users of this interest calculation method because interest is due at maturity. However, what about personal, student, car, and mortgage loans?

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Every year, the government forced nearly every working American to give it an interest-free loan.   Each person pays his taxes (via legally required withholding) as much as 16 months early, with not a cent of interest from the government for this loan of funds.  Several states have been toying of late  (and California actually implemented) schemes in which the required withholding rates are jacked far above any conceivable level of tax liability.  These are desperate financing approaches from entities who are no longer able to borrow (or afford the interest of) money at arms length, and so much use the coercive power of the government to force its citizens to fork over interest free loans.

Apparently, the Obama administration is looking at such a scheme, but on steriods:

The U.S. Trea

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Credit card consolidation helps you to avoid paying high interest on your credit card bills. So, if you’d like to obtain lower rates on your cards, get credit card debt help from a debt consolidation company. The company communicates with your creditors or collection agency so that they agree to reduce your interest rates and offer you an affordable monthly payment plan.

The steps in a credit card consolidation program are almost similar to that of a debt consolidation program. Just check out the steps and make sure you’re well aware of how the program works before you enroll in it.

Here are the 3 tips you need to follow when you’re in a consolidation or credit card debt elimination program.