(ARA) - There's no question that the majority of Americans want to make green purchases and do their part to help preserve the environment. But even as the economy starts to turn around, more than two thirds of U.S. consumers say price is the biggest obstacle preventing them from buying green goods or services this year.

With hundreds of green products coming out every day it's tough to tell what actually works, what's good for the environment and how to go green without spending all the green in your wallet. Plus, if you're like many cash- and time-strapped Americans, going green may seem like a costly and time-consuming addition to your everyday life.

Fortunately, several easy adjustments to your weekly routine can help you do your part to preserve the environment and your paycheck. Take an everyday chore like doing the laundry. Spending more than $2,500 annually on water, electricity, cleaning and laundry supplies combined, the average U.S. household does more than 400 loads of laundry per year.

Such costs can be taxing on the environment and your bottom line, but here are a few simple changes you can make to help you save green by going green.

Cool it: The notion that you can only thoroughly clean fabrics in hot water is a myth. Approximately 90 percent of the energy used to power your washing machine comes from heating the water. Wash your laundry in cold or warm water. This will not only help to save money on your utility bill, but will also minimize greenhouse gas emissions.

Hang 'em up: Don't dry your clothes excessively - doing so is bad for the environment and your fabrics. Try drying laundry the old fashioned way - by hanging it on a clothes line or drying rack. If you are in the market for a new dryer, get one with an electronic sensor that senses when the clothes are dry and automatically shuts off afterward.

Ditch the dryer sheets: They're an unnecessary expense. Plus many of the most popular brands contain ethanol, chloroform and other chemicals on the Environmental Protection Agency's hazardous waste list. These chemicals are released into the air after they're heated in your dryer. If you really need to eliminate static cling, try adding a quarter cup of white vinegar during the rinse cycle. It's cheaper and just as effective.

Find a fiber-friendly fabric softener: Over 95 percent of liquid fabric softeners are oil-based which means they work by coating fibers in oil. Over time this oily residue builds up and decreases the lifespan of fabrics. The average American family spends $2,147 on clothing each year, half of which is spent replacing clothes. Use a fabric softener that's not oil-based like Purex Complete Crystals Softener, which is 92 percent natural and will not turn your clothes yellow or gray.

Fill 'er up: Depending on when your washer was made you could be spending up to $195 each year on electricity alone just to do the wash. Always try to run a full load of laundry in your washer or dryer. Running a partial load uses the same amount of energy as a full load, but accomplishes less. Running full loads will help you use less energy which is better for the environment and your bank account.

There are many ways to protect the environment and it doesn't stop with your cleaning routine. Adopt some of these tips and the environment, your body and your wallet, will thank you in the long run.

(ARA) – The Great Recession inspired many Americans to better manage their finances by cutting spending, saving more and tackling debt. But one aspect of good personal financial management may be harder for many to manage – understanding their credit.

That could be because many of us don’t fully grasp the mechanics of credit scores and credit reports. You may realize that having good credit can profoundly affect your financial health, but you may not be sure how to take control of your credit.

Fortunately, it’s not difficult to demystify credit management. A few simple steps can put you on track to take control of your credit this year.

Know where you stand

Your first step toward a healthier credit future is to get a clear perspective on where you are now. If you haven’t looked at your credit report in a while, now is the time. Websites like CreditReport.com allow you to obtain and review your credit report – a move that can empower you to make better financial decisions. You’ll get your free credit score as a reward for enrolling in Experian’s credit monitoring product, a membership that can help keep you abreast of changes – both good and bad – in your credit report and score.

By monitoring your credit report and score on a regular basis, you’ll be better equipped to make financial decisions, and will be more aware of your ability to use credit. Get educated on what’s on a credit report and how credit bureaus use that information to calculate your credit score. Generally, credit reports include detailed information of an individual’s payment history with various creditors. Among other factors, bureaus consider three key things when calculating your score – the length of time you’ve had credit, the ratio of available credit to credit used, and if you pay your bills on time.

Manage your debt

At a time when debt is high in many American households, it may be difficult to remember that not all debt is bad. Debt that is secured by a tangible asset, such as a home loan, or that builds your family’s future, like a college loan, can be good debt as long as you manage it wisely. When looking for a mortgage or college loan, start out by knowing your credit score, then shop around for the best rate and terms. And be sure to avoid borrowing more than you can comfortably repay.

Pay down credit card debt, which is generally perceived as higher-risk – and higher interest – debt. Avoid using credit cards to pay for things that you should be paying cash for, such as groceries, utilities, restaurant meals or vacations. If you use credit for these things, which rapidly get consumed, and you can’t pay off your bill in full right away, you could wind up in debt very quickly.

If you already have credit card debt, never pay just the minimum balance due each month; it would take years to pay off just a few thousand dollars at that rate and you’ll pay much more in interest than the amount you originally borrowed. Always pay more than the minimum, and concentrate on paying off cards or loans with the highest interest rate first.

One exception to the pay-it-off quick rule may be your mortgage. If you’re able to make your monthly mortgage payments without struggling, concentrate on paying off other, higher interest, unsecured debt first. The interest you pay on your mortgage may be tax deductible, but the interest you pay on credit cards is definitely not. If your mortgage’s interest rate is high, look into refinancing to lower the rate.

(ARA) – Wondering where that small increase in your paychecks came from? Take a closer look at your pay stub and you’ll see that your Social Security taxes are 2 percent lower this year. The employee and self-employed portion of the FICA-OASDI Social Security taxes has been reduced to 4.2 percent for employees and 10.4 percent for self-employed.

The tax cut, also known as the payroll tax holiday, was part of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 passed in December 2010. Employers had until Jan. 31, 2011, to implement the cut.

There is a $106,800 income-earned limit, which means the maximum amount a worker can receive by the end of 2011 from the 2 percent reduction is $2,136.

The payroll tax holiday replaces the Making Work Pay Credit that expired at the end of 2010 that was also distributed in paychecks but through reduced federal withholding. The credit was worth 6.2 percent of your modified adjusted gross income, up to $400 ($800 for joint filers).

Whether your 2011 paychecks are bigger depends on your earned income and whether you received the Making Work Pay Credit last year. Taxpayers making $20,000 or more this year will receive larger paychecks this year because 2 percent of income exceeds the $400 Making Work Pay Credit. On the other hand, paychecks for lower income taxpayers earning less than $20,000 will be smaller because the $400 credit exceeds the 2 percent payroll tax holiday.

“Regardless of whether your paycheck amounts have changed, you should do two things,” says Jessi Dolmage, spokesperson for TaxACT. “First, review your federal withholding. Since the Making Work Pay Credit expired, you may need to adjust your withholding. If you’re self-employed, review your estimated tax payments.

“Second, if you received the Making Work Pay Credit last year, you still need to claim it on your federal return that’s due by April 18, 2011,” Dolmage continued. “Claiming the credit cancels out the reduced federal withholding in last year’s paychecks.”

The Making Work Pay Credit amount is figured on Schedule M for Forms 1040 and 1040A. If you’re filing Form 1040-EZ, use the designated worksheet to figure the credit. The economic recovery payments and government retiree credit that factored into the Making Work Pay Credit on last year’s return expired, so figuring this year’s amount is easier.

Free tax preparation solutions, including TaxACT Free Federal Edition, guide you step-by-step through the Making Work Pay Credit and all tax law changes to help you maximize your credits and deductions. They can also help you figure your federal withholding and even complete a new Form W-4 that can be printed and turned in to your employer.

For more information about the payroll tax holiday and Making Work Pay Credit, visit www.irs.gov, where you can also find a free withholding calculator. To take advantage of free tax preparation, printing and filing with TaxACT Free Federal Edition, go to www.taxact.com.

What if you threw away dollar bills every time you found them in your pocket? Does it matter how you pay for your family’s everyday purchases – with cash, credit/debit card or personal check? In fact, the way you choose to pay in stores and restaurants may be costing you (and the local stores you shop in) thousands of dollars a year.

These days, you can charge just about anything with a major credit card. But some non-plastic payment methods may allow you to get more for your dollar – and keep more of your hard-earned money in your local economy.

Here are a few times you may be paying extra or accepting unnecessary limits on your payment freedoms, and how to avoid them:

* ATM fees. You may knowingly be paying ATM fees, but you might be wise to select a bank that offers unlimited free withdrawals. Most credit card companies will charge you for cash advances from ATMs, but might not reveal the charge during your transaction. Make sure you’re clear on the terms of your card before proceeding.

* Transaction fees. You should be aware of credit card fees that accompany certain transactions. Use cash or a personal check if credit card fees apply to a purchase you’re making. Businesses often have to pay a fee for card transactions, so you support your favorite stores more if you pay with cash or personal check.

* Interest rates and annual fees. Credit cards can be a great way to build credit and earn benefits, but if you aren’t keeping your balance at, or close to, zero, you are losing out big-time by paying interest. If you’re having trouble keeping your credit card balance down, you may want to consider sticking with a card attached to a checking account and your checkbook.

And here’s the biggest surprise: How popular personal checks still are. In fact, 18 billion checks are still processed every year in the U.S. alone — making checks the most frequent form of non-cash payment in America.

Many Americans still prefer having the option to pay with check as well as with credit or debit cards, according to a recent survey conducted by public affairs firm Ipsos on behalf of Deluxe Corporation. Seventy-five percent of consumers said they should have the right to pay with whatever method they wanted when making a purchase at a store – including cash, card or check. Thirty-eight percent of consumers surveyed would consider walking out of, or not returning to, a store or restaurant if that business refused to accept their checks as payment. And one-fifth of consumers say that a sign in a store which says “We Do Not Accept Checks” is an example of ‘bad customer service.’

A new consumer advocacy campaign, “Stand Up For Your Right To Write Checks,” is underway to preserve your option to use checks as a form of payment at www.righttowritechecks.com.

Whatever your preferred method of payment is, by paying a little closer attention to your buying methods, you can end up saving a considerable amount of cash in the long run.

While today’s economy continues to put extra stress on most Americans’ wallets, those preparing to welcome a new child into the family experience the added pressure of a whole new set of expenses.

From diapers to baby furniture and day care, the costs for new parents mount quickly. For some, the reality of these expenses is daunting. Others are completely unaware of how the joy of a new child will impact their financial situation.

So, just how much does a baby cost? The answer depends on many factors. Does one parent stay at home or does the family hire a child care provider? Will the child attend public or private school? Is there a need for a larger home or car for the growing clan? Raising a child costs an average of nearly $11,000 the first year and more than $220,000 for the first 18 years, according to the U.S. Department of Agriculture.

So where do expecting and new parents start? Thrivent Financial for Lutherans offers these five “baby steps” to help them prepare.

1. Start early. During your pregnancy, take the time to determine your family’s immediate financial needs as well as your long-term goals.

2. Create a realistic budget. Determine the true cost of what you will need and weigh it against the new realities of your household income situation. This is particularly important if you plan on leaving the workforce for an extended period of time. Consult another new parent for a list of monthly baby expenses to get a clear picture of those costs.

3. Start and/or increase an emergency fund. The chances of unexpected expenses will become much greater once the little one comes on the scene.

4. Get protection through proper insurance. It’s time to face your own mortality and vulnerability. Protection is critical. Consult with a financial representative to insure your health, property, income and life through appropriate insurance. In addition, consider a juvenile life insurance policy when your child is born. Also, be sure to update the beneficiary designation on your own policies once the baby is born.

“For new parents, one of the biggest financial priorities we hear about is their desire to protect their family’s financial future,” says Bruce Fear, vice president of protection products and solutions for Thrivent Financial. “The foundation of this protection starts with having the proper insurance in place in case of an unexpected event. This can provide some peace of mind to many parents.”

5. Save for college. Before you know it your child will leave the nest, so start saving for junior’s college experience now. A financial professional can assist with the various investment tools available today for college savings. Furthermore, opening a savings account in the child’s name is a great starting point for depositing monetary gifts given to the child.

Supporting a family is hard work. Having the knowledge and tools you need to help ensure your financial stability will make the journey less complicated and even more rewarding.

Every year, taxpayers miss out on hundreds or thousands of dollars in tax breaks simply because they don’t know the benefits exist.

“Figuring out what tax breaks are available, whether you qualify, and what forms you need can be tricky,” says Jessi Dolmage of TaxACT, makers of tax preparation software. Dolmage offers some tips for taking advantage of commonly missed deductions and credits:

* If you paid for child care in 2010, you may be eligible for the Child and Dependent Care Credit. Day care, pre-kindergarten, before-school and after-school programs and summer day camp for children 13 or younger qualify. The care must have been provided so that you, and your spouse, if filing jointly, could work or look for work (exceptions apply for full-time students and the disabled).

The credit amount varies based on filing status and adjusted gross income, but the maximum benefit is 35 percent of expenses for joint filers with an adjusted gross income of $15,000. Eligible expenses are reduced by dependent care benefits provided by your employer that you deduct or exclude from your income. Payment for care cannot be paid to a spouse, a dependent on your return, or to a child who will not be age 19 or older by the end of the year even if he or she is not your dependent; thus, care provider(s) must be identified on your return.

* 2010 is the last year to claim the Nonbusiness Energy Credit, worth up to 30 percent of the costs for many energy-efficient home improvements. Up to $1,500 for 2009 and 2010 combined can be claimed, but only for the year during which the improvements were made. Other green improvements like solar hot water property, geothermal heat pumps and wind energy property may qualify for the Residential Energy Efficient Property Credit.

* If you travel in order to provide services at charitable events, you may be able to take a miscellaneous deduction. Deductible expenses include transportation costs, out-of-pocket expenses for your car, taxi fares or other costs of transportation between the airport or station, and your hotel, lodging and meals. The trip should include little to no personal recreation or vacation. Be sure to keep receipts and detailed documentation.

* Be rewarded for contributing to your employer-sponsored retirement plan or an individual retirement arrangement (IRA). The Retirement Savings Contributions Credit is worth up to $1,000 for taxpayers born before Jan. 2, 1992 ($2,000 for joint filers). The non-refundable credit is a percentage of the qualifying contribution amount minus distribution amounts, with the highest rates given to lower incomes.

* If you spent money looking for a job in the same field during 2010, you may qualify for a miscellaneous deduction. Employment agency fees, resume printing and postage costs and travel to and from the area (if the travel was primarily to look for a new job) are eligible. You aren’t eligible if you’re looking for your first job or there was substantial time between the end of your last job and the time you looked for a new one.

“Affordable, do-it-yourself tax software and online solutions make getting all your credits and deductions easy and fast,” Dolmage says. “The program walks you through each credit and deduction, and completes the necessary forms. Solutions like TaxACT also guarantee your biggest refund and make getting every credit and deduction you deserve easy.”

Details about these and other 2010 tax breaks can be found at www.irs.gov. TaxACT Free Federal Edition, available at www.taxact.com, guides you through these tax benefits, and allows you to prepare, print and e-file your federal return free.

If you’re a young woman ages 25- to 34-years-old and do not have a financial plan in place, you are in good company. But a new study suggests you can buck that trend and beat the odds. However, you may have to step out of your comfort zone to do it.

Results from the fifth biennial Prudential Financial survey, “Financial Experience and Behaviors Among Women,” indicate that of the 1,250 women surveyed online, 38 percent did not understand stocks, 43 percent did not understand mutual funds and 53 percent did not understand annuities.

“While the survey suggests that the economic crisis overall has really heightened women’s recognition of their need to develop a financial plan to meet their long-term goals, only about a third of them have started down that path and that number gets even worse the younger they are,” says Joan Cleveland, senior vice president of individual life insurance for The Prudential Insurance Company of America. “While many more women are involved in financial decisions, few admit to having the confidence to move forward in any meaningful or strategic way.”

Other telling facts from the survey:

* Career interruption due to child bearing and child rearing can sideline a woman’s retirement planning goals.

* Women tend to live longer than men, resulting in a greater need for retirement savings to live on after exiting the labor force.

* Sixty-four percent of women reported seeking financial advice from friends or family rather than a financial advisor.

No matter which survey findings best fit your situation, now is the time to take control of your financial future. Here are some practical steps to help you get a better handle on your financial challenges:

* Figure out where you stand: Stop stuffing investment statements in the drawer to look at “later.” Know where your money is invested, how much debt and insurance you have, and whether a new strategy is called for. Have this information available for review.

* Meet with a financial professional. Ignorance is not bliss when it comes to your money, and family and friends are simply not qualified to give you expert advice. Ask friends and colleagues for referrals and look for someone you feel comfortable with who specializes in financial planning for women.

* Verify insurance coverage. Carefully review your life and disability insurance needs, especially if you are the primary breadwinner. Life insurance can help protect a family from the devastating loss of a wage earner. Be sure to ask your financial professional if long-term care insurance is right for you.

* Max out your 401(k). If you are a young woman, time is on your side when it comes to 401(k) savings. This is one of the easiest, smartest things you can do to help prepare for retirement, especially if your company matches contributions.

* Make a will or estate plan. Many women make the mistake of not creating a will, leaving loved ones to deal with the hassle and expense of probate court. A will leaves no doubt about what should be done in the event of death and helps protect your assets for future generations.

To learn more, go to www.prudential.com/women. The site includes helpful life-stage checklists, easy-to-understand guides to financial products and services, and first-person financial accounts that provide encouragement and support. Educating yourself and getting help when you need it is worth every bit of time and effort when it comes to attaining your financial dreams.

No matter what your age or situation, today is the day to take action. Doing so can place you in the financially-confident minority, and help put you on the road to being wealthy and wise.

Tax season is approaching, and while you’re wondering how your tax return will affect your bank account, you might also want to consider how it could influence another aspect of your financial well-being – your credit score.

Although your tax return is not directly tied to your credit report, it can affect your score in indirect ways. For example, if you use your 2010 tax refund to pay down some outstanding credit balances, you could boost your credit score. Or, if you don’t have the resources to pay your entire tax bill up front, you may find yourself in a situation in which it’s difficult to pay other bills too, and slow or missed payments can also affect your credit score.

If you better understand your credit, you may be better equipped to deal with your tax situation if you end up owing, and to better take advantage of your windfall if you’ll be getting a refund. Websites and monitoring memberships like FreeCreditScore.com, can help you to check, monitor, read and understand your current credit report or score.

Keep in mind that the three major credit bureaus, and several less well-known ones, all have slightly different scoring models. But some common factors can affect your credit score. It’s important to understand how your score works, so keep these factors in mind as tax season approaches:

* Your bill payment history – Potential creditors want to know that you pay your bills on time. If you’ve paid debts in a timely manner in the past, chances are you’ll continue to do so in the future, creditors believe. Generally, your payment history will account for a third of your credit score.

* Total amount you owe – Often, the total amount you owe is also considered against how much credit you have available. You may owe $10,000 in credit card debt, but if you pay on time and still have plenty of unused credit available, your score may be better than someone who has half that amount of total debt, but who either doesn’t pay reliably or has maxed out his available credit. The total amount you owe accounts for a little less than a third of your score.

* Length of credit history – Creditors want to know you have experience paying bills on time. The longer you can demonstrate your financial responsibility, the less you will appear to be a credit risk to potential lenders. That’s why senior citizens often have excellent credit scores, while a young professional who earns more than the senior makes, but who has been using credit responsibly for a shorter time, could have a lower score.

* New credit accounts – Opening too many new accounts, or even just applying for them, could impact your credit score. The idea is that if you obtain a lot of new credit all at once, the temptation to overuse it may cause you to make poor decisions about credit use.

* Type of credit you’re using – Some types of debt that are attached to a tangible asset, such as a mortgage or car loan, are perceived as “good” credit and can actually raise your score. High amounts of unsecured debt, like credit cards, may adversely affect your credit score.

Credit monitoring products can help you better understand the factors that affect your credit score, monitor your credit and obtain your full credit report and scores. At FreeCreditScore.com, you will also find a calculator that can help you estimate how certain financial actions may affect your credit score.

While tax season is often a stressful time, you can reduce some of the worry and better understand your credit by checking your credit score and report now, and educating yourself further on how financial decisions impact your credit.

While you’re running through all the financial tasks small businesses do to close out one fiscal year and start the next, don’t forget to examine an often-overlooked key financial factor – your business credit.

Between closing your books on 2010 and preparing for 2011′s tax season, knowing how creditors and others perceive your business may not be top of mind. Yet, now is the perfect time to verify the information in your business credit report and update it with current and relevant facts about your growing business. It can help you better prepare your business for the coming year. The credit experts at Experian offer some insight into the factors that affect your small business credit report and business credit score, and why it’s important to your business.

Why it matters

Does your business credit report really matter? Absolutely. It paints a picture of your small business for the world to see. Outdated or incorrect information can give the wrong impression about your business, resulting in unfavorable decisions by potential lenders and creditors – which can negatively impact your bottom line. Plus, anyone, including partners and investors, can view your business credit report for any reason.

If your business has grown or changed over the last year, it’s important to update the data reflected in your report and know the score. There are several factors that make up a business credit score, including but not limited to previous payment history, industry type and business size.

An accurate business credit report and a good business credit score can:

* Save you money because lenders usually offer their best interest rates to businesses with good credit.

* Reduce your personal liability and protect your personal assets by enabling you to obtain business credit without the need for a personal guarantee.

* Help you offer your customers competitive prices by passing your interest savings on to them, while still keeping a larger margin of profit for yourself.

* Get you the money and capital you need to keep your business running.

What’s on your report?

Your business credit report provides an up-to-date, objective overview of your business and how it manages financial obligations. It can include information on your payment history, public records about your business, background on the company, collections information and comparative information that places your business payment history in context with your industry.

You can find out how your business compares to others like it across the nation in terms of business credit with an interactive map by visiting www.businesscreditfacts.com/map.

Managing and monitoring

Web-based services are a great way to monitor and manage your business credit report. Sites like SmartBusinessReports.com and Experian.com/SmallBusinessCredit not only allow you to view your own business credit report and score, but also provide useful information on how Experian arrives at your credit score and how your business practices affect your score and report. These sites also allow you to check the business credit of your suppliers, customers, prospects, partners and competitors.

Your business credit information is as important to your business’ financial health as your personal credit information is to your ability to borrow money privately. While you’re wrapping up last year’s financial matters and preparing for the coming year, now is a good time to think about your business credit and how you’ll manage it throughout the new year.