According to the FTC, here’s what timeshare owners should watch out for when working with someone claiming to help them get rid of their property:

• Do a background check: It seems some scammers will claim that local interest for buying timeshares is significant, that their office has been flooded with calls about properties, and that conditions are otherwise ideal for you to get rid of your property quickly. But, before agreeing to anything over the phone, visit a few web sites: the Better Business Bureau (bbb.org), your state’s attorney general’s office (naag.org) and consumer protection agencies near you (consumeraction.gov). Check to see if any complaints have been filed against the company you’re considering working with.
• Get everything in writing: Any offers, agreements, contracts, payment schedules or any other business transactions need to be on paper before you commit.
• Check for a license: Real estate agents must be licensed to sell property by area—ask whether your agent is licensed in the area where your timeshare is located. If the answer is yes, double-check this information with the state’s licensing commission.
• Get specifics: Find out how and where your property will be advertised and how often progress reports will be issued.
• Understand the fee system: The FTC notes that companies that take their fees after your property has been sold are preferable to upfront fee takers. If your agent insists on an upfront fee (and seems otherwise acceptable), ask about refund policies and get them in writing.
• Don’t be too optimistic: In this market, the FTC warns, you may not be able to recover your full purchase price with a re-sale, especially if you’ve only had the property a short period of time and/or it’s in a relatively unknown location.
• Get an appraisal: To get an idea of how much your property is worth, have a timeshare appraiser give you an estimate. And it’s a good idea to make sure the appraiser’s license is up to date.
• Know what to look for in a contract: Before signing anything, check to see what specific services the reseller is agreeing to perform, costs you’re responsible for, whether you can rent or sell the timeshare while the reseller is trying to sell the property, whether you’re responsible for closing costs and how long the re-seller will attempt to sell your property.
• Don’t be afraid to say no: If you don’t like what you see in the contract, it’s okay to back out of an agreement and/or negotiate different terms.

For a more detailed list of suggestions and warnings, visit the FTC’s web site.

According to the article, a growing group of Americans are disenchanted with large financial institutions after watching the financial crisis unfold. While many are still comfortable with traditional banks, this new group is looking for new ways to find financing.

Here are some of the ways that Americans are, as Forbes puts it, “de-banking”:

Taking out loans against retirement funds

While it’s not necessarily what a financial adviser would recommend, there has been a rise in 35 to 55-year-olds borrowing against their retirement savings.

A study done by Fidelity Investments found that of 11 million people surveyed, almost 22 percent have an outstanding loan against their retirements in April, May and June of 2010. That’s a rise from the 18.1 percent measured in early 2001.

Fidelity also registered a 2.2 percent increase in those who withdrew from there 401(k) as a result of financial hard times during 2010’s latest quarter.

Forty-five percent of those people took out another loan against their retirement a year after their first one.

Going directly to investors

Some big corporations are going directly to investors for loans and financing, according to the Financial Times.

In the first half of 2010, companies borrowed directly from investors to the tune of $27.4 billion, nearly matching the $28.5 billion raised directly in the entire 2009 year.

Mid-market groups typically like private investment placements, because it helps them to build relationships with investors. It’s not only smaller markets, though. Big companies like Heineken and Millennium Pipeline have done the same.

The friends and neighbors approach

Peer to peer lending is increasingly an option as online networking empowers people and investors to connect with one another.

Social lending sites are often powered by those who work for themselves and who might not be as appealing to a traditional banking investor.

Sites like Prosper.com and Lending Club put investors in contact with borrowers. Depending on the site, loans from $7,000 to $25,000 can change hands, for everything from tuition to business start-up funds.

On the television channel CNBC, for example, one can find streaming prices at the bottom of the screen, currency exchange rates on the top, and one pundit after another offering their take on solid and questionable investments.

In a recent article for Kiplinger’s, senior editor Bob Frick asks the question: does all this information actually help us make better choices when it comes to investment, or does it just make us think that it makes us wiser?

What the Brain Wants

Based on the way that our brains work, it seems that we enjoy lots of stimulation. But it may be that our brains don’t know how to actually use all of this information effectively. Daniel Simons, a cognitive psychologist, told Frick that there is no way for our brains to process all of this information that they take in. “We can only take in a thin slice,” he said.

Facts, he continued, can often feel like a good replacement for knowledge. However, large collections of information can actually create what he calls “a tremendous illusion of knowledge.”

In one experiment that simulated 25 years of investing, those investors who were allowed access to their investments only once every 5 simulated years performed far better with the imaginary mutual fund than those who were allowed trading access, and therefore more information, every month.

The Appeal of Discovery

Another interesting psychological pitfall of investing is that we have a tendency to place too much influence on information that we “discover,” according to Frick.

In one study, it was shown that doctors who found out information about patients themselves placed much more import on this information than on equivalent data that had been provided them already. In other words, they trust the information they discovered themselves more than that provided by them.

Those investors who feel that they uncovered information about a certain industry or stock are liable to place undue importance on this information. The thrill of the treasure hunt makes the information more appealing, when in fact it could be the same as or inferior to other options.

The Long-Term View

One money manager, Bo Billeaud, offered up his New Year’s resolution: to turn off the news and focus on long-term trends, rather than raking in lots of up-to-the-minute information that was, according to him, “arcane and meaningless. Guess what? No problem.”

Here’s what you need to know about your credit report and employment future.

The Impact of Negative Credit Information

As many as 60 percent of employers admitted in a recent survey that they check someone’s credit history when considering him for a job, compared to only 13 percent in 1996 and 35 percent in 2003.

And, as part of that process, many employers have identified “red flags” in credit backgrounds that might prevent them from making a hire, according to CNN. These include:

• Court judgments: Having a court rule that a person owes money would prevent 64 percent of employers from hiring a prospective employee.
• Accounts in collection: Evidence that lenders have turned accounts over to debt collectors would prompt about 49 percent of employers to turn down a potential worker.
• Bankruptcy filing: As many as a quarter of respondents apparently noted that evidence of a bankruptcy filing would be enough to dissuade them from hiring someone.
• High debt: Generally high debt levels (which plague much of the country) would reportedly be enough to convince 18 percent of hirers to say no to a candidate.
• Foreclosure: Eleven percent of respondents consider evidence of a foreclosure reason enough to tell a job candidate no.

These upsetting figures may contribute to a dangerous debt cycle: those who can’t pay their bills may find it harder to get jobs; without work, they’re less and less able to pay bills. Luckily, three states (Washington, Oregon and Hawai’i) have made credit checks illegal for potential employers unless financial status is directly related to the job in question.

Another 17 states have similar legislation in the works, which could mean that, in the future, employers aren’t making decisions based on the raw (and sometimes inaccurate) data in a credit report.

Improving Your Credit

So what steps can you take to improve your chances of getting hired, even when a credit check is included?

• Check your credit report. You can see a copy of your credit report for free at www.AnnualCreditReport.com, which can give you an idea of what an employer might see. Take steps to correct any incorrect information you see and use the report as a way to prioritize your finances.
• Ask about credit checks. If you have negative information in your credit report, you may want to ask your employer whether she plans to view it. This can give you a chance to explain the real-life details behind the unvarnished data in your account (e.g. that medical bills from an unexpected illness led you to file for bankruptcy or that your high debts are largely for student loans).

Here’s a primer on what to look out for to make sure your hard-earned money doesn’t get lost on a scam.

• Chimney sweep scams: These might involve an advertisement for a chimney cleaning at a price considerably lower than the competition—which naturally attracts frugal or budget-conscious consumers. But, according to sources, after looking at your chimney, a scammer might indicate that you need a new cap or lining—or else you could have deadly gases pouring into your home. Naturally, such procedures cost more than the advertised cleaning, and could well be unnecessary and shoddily executed.
• Air duct cleaning scams: If you have central heating or air conditioning, sources note that it’s a good idea to have your air ducts cleaned every two to four years. And a good, thorough cleaning should reportedly cost between $600 and $1,000 and take several hours. But some scammers will offer to perform this service for less than a hundred dollars—and then pretend to notice mold in the house that they offer to remove, for a hefty price. As if this weren’t bad enough, it seems that some companies even offer to “test” the mold, but use their own test, which is designed to come back positive no matter what. Another tipoff that an air duct cleaning operation is a scam? They’ll “clean” everything in an hour or less.
• Carpet cleaning scams: While it’s wise to have your carpets cleaned regularly (some suggest once a year or every other year), some companies that claim to perform this service will rip you off. Look out for companies that price their services per room (a square footage estimate is more reliable), replace furniture before the carpets have dried fully and don’t vacuum before doing more heavy-duty cleaning. Putting furniture on wet carpets can leave stains and end up ruining your floor covering.
• Basement flooding scams: Waterlogged basements are common in many parts of the country, but often, according to the Times, the problem is clogged gutters or rainspouts that point the wrong way, though scammers would have you believe it’s because of a “rising water table.” Basement draining scammers can charge $10,000 or more so be very cautious if someone quotes you this price and indicates that extensive work is needed.

How Do You Know It’s a Scam?

Before committing to a company, check its reputation with the Better Business Bureau (www.bbb.org) and consider going online to research customer reviews. And, if you’re having serious work done, don’t hesitate to get second opinions and quotes from various companies.

In general, proceed with caution if a company offers a price that’s well below average—often, that’s a sign that their services will be less than reliable.

Going to College (with a Little Help)

The cost of post-secondary education has risen astronomically in recent years, and many graduates are finding that the bump in their earnings potential hardly allows them to cover educational debts. And online entrepreneurs are starting to take notice. Here’s how:

• The site SponsorMyDegree.com lets financially needy college students and graduates post a social networking-style profile detailing why they’re in need of cash to fund their educational expenses.
• Donors who visit the site browse the profiles and can choose to donate as much money as they want to these students.
• The site administrators transfer the money directly to the students’ schools to offset the cost of their tuition and fees.

The concept behind this site, called either micro-philanthropy or cyber-begging, depending on how people feel about it, could be a sign of what’s to come. The downside is that many students who post profiles haven’t received any donations yet and donors tend to stick to small dollar amounts.

But, as publicity for the site spreads (and imitators spring up), the landscape of financing higher education may change.

Driving a Car (But Not All the Time)

Car sharing isn’t a brand-new idea, but it’s one many Americans have not yet considered. Essentially, car sharing works like this:

• A cooperative group owns several vehicles jointly.
• Each member of the group pays a yearly membership fee for the privilege of using those vehicles on an as-needed basis.
• When a member needs a vehicle, she reserves one online or over the phone, picks it up at the indicated location, and drives it for as long as she needs to.

Individual members generally pay mileage- or time-based usage fees, but gas and insurance costs are often included in membership.

• Each member has a key that grants access to a place where the car keys are kept.

In other words, you pay to have a car only when you need it and don’t have to worry about repair costs, parking costs, maintenance fees or any of those other pesky costs that can add up quickly when you’ve got your own set of wheels.

While car sharing can be a great way to save money (and the environment), it will probably only work if you live in a city and don’t have to drive everywhere (i.e. have another transportation option such as walking, biking or using public transit).

When they are away from the family, on a distant continent, it can be a challenge for a young person to stay within the financial bounds. However, the More Money blog from CNN recently featured some tips for those families that are planning a summer abroad with their student or young person.

Avoid Foreign-Currency Transaction Fees

The dollar is strong, and one way to take advantage of that fact is for a traveler to carry a Capital One card abroad. Capital One, unlike a number of other card issuers, doesn’t require you to pay fees for foreign-currency transactions. Make sure you check with your card provider so you don’t rack up excess credit card debt on additional fees.

Save Money on International Calls

Roaming charges on cell phone calls abroad can be high. Avoid them by using Skype’s calling app for smartphones. Calls from one Skype account to another are free, though they do require a wireless internet connection. With Skype, even a call from the app to a non-Skype phone may still only cost two to seven cents a minute.

If you don’t have a smartphone, you can purchase prepaid SIM cards at the abroad destination. Make sure that your phone is “unlocked,” though, and that it is classified as a tri-band or quad-band, which can be determined by your cell provider. If your cell phone carrier doesn’t provide SIM service, like Verizon or Sprint, then consider a local calling card.

Choose Hostels Over Hotels

The cost-conscious traveler should embrace hostels, rather than the much more expensive hotel option. Hostels are not quite as private as hotels, but they are known to sometimes be nicer than local hotels, and they more than make up the difference with their much lower rates. They are also a great place to meet fellow travelers. More Money suggests Hostels.com as a good place to start when finding hostels to stay in.

Fly Budget Airlines

There are several low-cost airlines to choose from to travel between multiple countries. Ryanair and easyJet.com are two ultra-budget airlines that cater to light-traveling penny pinchers. While check-in lines can be longer, if you are packing a lot, these airlines are a great option.

Plan Ahead

The best plan is to plan ahead. Research your destinations before you arrive, and sidestep those costly surprises.