The Daily Dollar

Defend Your Dollars is the website of the Consumers Union Financial Services Campaign, where we support reforms to the financial marketplace to curb bad practices by banks and lenders.

Don't borrow from your 401(k)
Posted by Gail, the money mom at 01/28/08 11:24 AM

Monday's Tip from Money Mom - Avoid a Debit Card Tied to Your 401(k). Money Mom just heard about a truly bad idea - a debit card that pulls money straight from your "qualified retirement plan" such as a 401(k). You spend money for everyday purchases using the debit card, but with every purchase you are borrowing a bit more money from your retirement account. Read more »

Money Mom says don’t let tax time become ID theft time
Posted by Gail, the money mom at 01/21/08 07:22 AM

January is the month when we all receive tax information containing our social security numbers. Protect that mail and be sure it gets to you, not an identity thief. Read more »

Money Mom says get your free credit report
Posted by Gail, the money mom at 01/11/08 05:56 PM

Monday’s tip from Money Mom – get your free annual credit report online at, by calling 877-322-8228, or by making a request by mail. Read more »

Monday’s tip from Money Mom: Don’t borrow your tax refund
Posted by Gail, the money mom at 01/07/08 12:03 PM

Money Mom says: Stay away from offers to get your tax refund instantly. This is not a faster tax refund, it is a high cost loan. Read more »

New "Direct Express" card for Social Security payments
Posted by Gail H. at 01/04/08 12:15 PM

The U.S. Treasury Department announced today the “Direct Express” card. This card could set a new standard for prepaid cards, with real consumer protections and no nasty overdraft fees. Read more »