Dr Boyce Money: FreeCreditReport.com is Not Free at all

Guess what? You may be getting hoodwinked....bamboozled.....run amuck....led astray. Not surprisingly, financial companies may be pulling your leg. How could this be happening? Well, according to the federal government, those really cool commercials from FreeCreditReport.com might be selling you a tainted bill of goods. At the very least, the government has determined that the ads are misleading.

What most consumers don't realize is that FreeCreditReport.com actually requires you to sign up for a trial membership to its "Triple Advantage Credit Monitoring" program. In other words, FreeCreditReport.com is actually not free. Of course they don't stop the charges from coming off your credit card once you sign up for the trial membership, that would be too easy. They put the onus on you to stop the charges. If you do not cancel within the 7 day trial period, they automatically bill you $14.95 per month. One can almost laugh at the irony that a company who claims to help you rebuild your credit may be deceptively helping you get deeper into debt: it's similar to a pastor helping prostitutes get off the street and then having sex with them.

The Better Business Bureau has received thousands of complaints from angry customers who felt they were dupped. Many consumers even claimed that the company continued to bill them long after they'd canceled their trial membership. So, it appears that the snazzy videos were used to lure in consumers by making them believe that they were going to get a free lunch. But those who understand business know that massive marketing and really cool commercials usually cost money. They had to be making their "cheddar" somewhere.

The Credit Card Accountability, Responsibility and Disclosure Act now requires that any company offering the public a free credit report must also tell the consumer that they are entitled to a free credit report every year from each of the major credit reporting agencies. The site to get these free reports is AnnualCreditReport.com. So, the saddest part about the FreeCreditReport.com commercials is that they were using America's financial illiteracy to their advantage by selling us something that we could get for free anyway. As my mama used to say, "That's just trifling."

10 Questions To Ask Before Planning A Wedding

How do I set a wedding budget?
The very first thing you and your fiancé need to do is figure out how much money you will realistically have to spend on your nuptials and the celebration that follows. Keep in mind, the bride's family is no longer expected to be the primary wedding sponsor; it's common now for both families to offer assistance. But the reality is, most couples pay for their own wedding. Once you've established a dollar amount (remember a gorgeous wedding can happen at any budget), there are a number of popular websites like theknot.com and marthastewartweddings.com that you can use to complete a thorough and organized budget.

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Should you have "My Big _____ Wedding?
In our community , weddings are often huge, oversized events. But one of the biggest ways to impact your budget is by limiting the size of your guest list. There are some tough questions that have to be answered when it comes to guest list .For example, will children be allowed at the reception? Long before you decide to host a 400-person extravaganza/family reunion, you and your fiancé should each create lists of potential guests and organize them into: "People you wouldn't get married without; " "People it would be really nice to have ," and "People you can take or leave ." If or when you have to trim your list, it'll be easier to know where to start.

Large wedding party: to have or to...?"
HOLD. The days of really large bridal parties are fading. Of course, your bridal party should represent your idea of perfect, but smaller bridal parties of two to three attendants will save you a significant amount of money in transportation and flowers, and on bridal party gifts. One solution for the people that you MUST include in the wedding that aren't your BEST friends, is to consider asking them to be hostesses/ushers or to read a significant poem or scripture during your ceremony. You might be surprised how happy "the un-chosen ones" are that they can actually be a guest at the wedding without a long list of responsibilities and financial obligations.

What is my wedding style, and do I need a theme?
Your wedding style sets the tone for your entire event , and your theme is the way you'll showcase it throughout. To figure out your wedding style, ask yourself if you are traditional, unconventional or somewhere in between. If you're traditional, you may want a church wedding with a formal dinner reception. Your theme might be a "Winter Wonderland" in a gorgeous hall draped with crystals and viburnum. It's up to you! If you do opt for a wedding theme (they aren't mandatory), this is where you and your fiancé can really express yourselves as a couple by transforming your shared experiences into one theme.

When and where?
Once you have your wedding style and theme in place , you have to find a complimentary venue. If you're opting for a church wedding and you have a specific church in mind, their availability will determine your wedding date. Flexibility is key if you would like a wide range of venue choices. Some sites will give you a reduced rate for booking your event on a Friday evening, Saturday morning (or early afternoon) or Sunday. You can also save 20 to 30 percent by booking your reception during the off-peak months of January-April. Look for venues that include parking, vendor discounts and other perks.

Which decor elements really make a difference?
Expensive and plentiful floral arrangements may be synonymous with beautiful weddings , but if you have a limited décor budget you have to decide where your priorities lie. Lighting can make a huge difference and doesn't have to cost a lot. Check with your DJ or venue about inexpensive lighting packages. Candle light counts! You can find candle wholesalers all over the web. Also, explore your theme -- maybe you can use a minimal amount of flowers and display some beautiful items found at thrift stores as your centerpiece. Be sure to display your wedding cake as a piece of décor.

What should we serve?
Your food and beverage costs can account for 60 or more of your total budget. This is one area where research and negotiation is extremely important. Selecting menu items that are in season will have a favorable impact on the final cost of your meal-and the taste. Although it's commonly believed that buffet meals are less expensive, that's not always the case. A plated meal with a duet of entrees may end up being more economical and pleasing. Stations are fun and can provide a welcomed variety for your guests. However, the costs can add up once you factor in the quantity of food you'll need to satisfy guests and the cost of chefs and service staff.

What to wear?
Have you already found the dress of your dreams? Many brides begin tearing out pictures of dresses they love the day after their engagement (or secretly sooner). That's not a bad idea, as time is of the essence. Regardless of where you end up buying your gown, if it's new, you should allow at least 12 weeks delivery time to be safe. If you plan accordingly, you can snag a great deal by finding your designer dream dress at local bridal sample sales, trunk shows or events like Filene's infamous Running of the Brides. Another option is a shop like RK Bridal, a New York-based store that ships around the world and guarantees a low price.

What is the top wedding trend right now?
Going Green is one of the biggest wedding trends right now! Weddings of any budget can go entirely green or have environmentally sound ideas incorporated into any facet of the planning. There are green venues that serve only local, organic or sustainable food, invitations printed on recycled paper with natural inks, organic gowns and suits, locally grown flowers, soy candles, etc. There's really no reason why you can't share some love with planet!

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We're spending a lot of money. How do we insure that everything goes as planned?
Hire a wedding consultant to execute your wedding day plans. Can you and your cousin do it? Maybe, but do you really want to? You, your family and close friends should all be able to cherish the moment, relax, eat drink and be merry. Most "day of" wedding consultant/planners will confirm and manage vendors, create schedules, run your rehearsal and your wedding day. You'll convey all the details to them and they'll make sure everything is done to your specifications. When looking for a consultant, start with referrals from friends and family. Next, organizations like the International Special Event Society are a great resource.

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The Federal Trade Commission even went as far as making what might be considered a "diss video" showing that FreeCreditReport.com is not quite what people think it is. While the commercial is not as entertaining as the ones for FreeCreditReport.com, you have to give the FTC "props" for sneaking in their jabs at the company that might not always be working in your best interest.

When it comes to maintaining your credit, you should check your credit report at least once every 6 months. There are some other occasions where a check of your credit might be necessary:

· If you're planning for a major purchase: You should know what your potential creditor is going to see when they process your application.

· When you've been denied credit for any reason: Federal law gives you the right to get a free copy of your report when you've been denied credit.

· When you are planning to repair your credit: It's hard to fix a problem without being familiar with the intimate details of that problem.

· When you believe your identity has been stolen: you need to see if any damage has been done and alert the credit bureaus of your situation.

The best way to protect yourself against financial predators is to make sure you are not very good prey. That means staying educated and intelligent about financial decisions. Also, as the old saying goes, "If something seems too good to be true, it probably is."

Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good." For more information, please visit www.DrBoyceMoney.com. To have Dr. Boyce commentary delivered right to your mailbox, please click here.