Issue link: https://www.epageflip.net/i/462019
DEARMARY:MayIask your advice? I have a credit- card balance of $4,500 at 18 percent interest. My FICO score is 700. I am determined to pay this off in the coming 12 m o n t h s . Would it be wise for me to transfer this to a new CHASE Slate credit card that offers 0 percent in- terest with no fees for 15 months? Or should I keep what I have, bite the bullet and just pay it off over the next year? — Mary Beth DEAR MARY BETH: First, let's look at the num- bers. If you keep what you have and pay off the $4,500 at 18 percent interest over 12 months, you will make 12 payments of $412.56 each, for a total of about $4,950, of which $450 will be in- terest. If you transfer this $4,500 balance to a 0 per- cent card, you will make 12 payments of $375 each, sav- ing you that $450 in inter- est. That's a no-brainer. If it were only a matter of dol- lars and cents, it would be better to go with the no in- terest option and keep $450 in your pocket. But there are other things to consider. You have to think about where this balance came from in the first place. You paid for stuff with credit because you didn't have enough money. For what- ever reason, you saw a re- volving balance on a credit card as viable option. Ap- parently things got out of control. You did not have the financial maturity to make wise decisions and you ended up with a big pile of high-interest credit card debt. The biggest risk you face in transferring that balance to a new 0 percent account is that you'll slip back to your old ways. You'll see the old account that you've paid down to $0 as your "rainy day" fallback. You'll tell yourself you will never use it, never allow a balance to build up on it — never, ever again. But you will leave the account open to have just in case of emergency. I know this because I know myself. Been there, done that. Statistics tell us that within two years, you will run it right back up to the max. Stuff will hap- pen; you'll have emergen- cies. You'll be invited to go on a cruise or experi- ence something you've al- ways dreamed of. That card with its big available credit limit will call your name — in such soft, sweet tones. Another risk is that some- thing will happen in the next 12 months that you'll see as preventing you from making those big payments ($375 or $413, depending on which way you go). Should something go sideways, this credit-card balance will be the easiest place to make adjustments. You'll be con- stantly aware that you have the option to pay only the small minimum monthly payment rather than keep- ing to your plan to pay the big payment each month. If you go for the balance transfer option — Chase will be delighted for you to do that, by the way, and even happier if you cannot quite get the total balance paid down to $0 within the 15 months of grace — they'll just default you into the big interest rate (prob- ably 22.99 percent), and it will apply retroactively to the first day that you took the transfer. You'll end up paying a lot more than $450 in interest in the long run. Read the fine print. All this to say, it is not an easy choice. If you were to- tally certain you would pay $375 per month come hell or high water, that would be the way to go. The initial hit you might get on your credit score for opening the new account and clos- ing the old one would clear itself as you reduced your debt over the year. But if it were going to be easy to do it, wouldn't you already be making at least $375 pay- ments each month on that account? I can't tell you what to do. My job is to hold a light and a mirror to help you see things clearly; to give you the information you need to make the best decision. I wish you well as you do that, and hope that you will let us know what you've de- cided and how it is going for you. MaryHuntisthefounder of www.DebtProofLiving. com, a personal finance member website. You can email her at mary@eve- rydaycheapskate.com, or write to Everyday Cheap- skate, P.O. Box 2099, Cy- press, CA 90630. EVERYDAYCHEAPSKATE Credit-card payment options riddled with risk Mary Hunt PLEASE RECYCLE THIS NEWSPAPER. MINERAL Along with Na- tional Park Service areas nationwide, Lassen Vol- canic National Park will waive entrance fees Satur- day through Monday, Feb. 14-16, in honor of Presi- dents Day. "This holiday weekend is a perfect time to enjoy your park with friends and family. Play in the snow at the Kohm Yah-mah- nee Visitor Center or take a stroll along snow-free Manzanita Lake," said act- ing Superintendent Steve Gibbons. For visitors age eight and older, ranger-led snow- shoe walks are offered on Saturdays and Sundays through April 5. Meet at the Kohm Yah- mah-nee Visitor Center at 1:30 p.m. for a 1½ to 2 hour walk through Lassen Vol- canic's awe-inspiring land- scape. In addition to Presidents Day weekend, five more fee-free days are scheduled this year: National Park Week Opening Weekend April 18-19, National Park Service's Birthday Aug. 25, National Public Lands Day Sept. 26 and Veterans Day Nov. 11. Visitors to the park should be prepared for a range of weather condi- tions. Check the most re- cent weather forecast, dress in layers and carry food and water. Stow a shovel, extra blankets and tire chains in your vehicle in case unexpected win- ter road conditions de- lay your travel. The Kohm Yah-mah-nee Visitor Cen- ter is open from 9 a.m. to 5 p.m. Wednesday through Sunday. For more information, visit lavo_information@ nps.gov or contact the park at 595-4480, on Face- book at www.facebook. com/LassenNPS, Twitter www.twitter.com/Lassen- NPS and YouTube www. youtube.com/LassenNPS. Free entry for Presidents Day weekend The Internal Revenue Service warns taxpay- ers to watch out for fake emails or websites look- ing to steal personal in- formation. These phishing schemes continue to be on the annual IRS list of "Dirty Dozen" tax scams for the 2015 filing season. "The IRS won't send you an email about a bill or re- fund out of the blue. Don't click on one claiming to be from the IRS that takes you by surprise," said IRS Commissioner John Koski- nen." I urge taxpayers to be wary of clicking on strange emails and websites. They may be scams to steal your personal information." Compiled annually, the "Dirty Dozen" lists a vari- ety of common scams that taxpayers may encounter anytime but many of these schemes peak during fil- ing season as people pre- pare their returns or find people to help with their taxes. Illegal scams can lead to significant penalties and interest and possible crim- inal prosecution. IRS Crim- inal Investigation works closely with the Depart- ment of Justice (DOJ) to shutdown scams and pros- ecute the criminals behind them. Phishing is a scam typ- ically carried out with the help of unsolicited email or a fake website that poses as a legitimate site to lure in potential vic- tims and prompt them to provide valuable personal and financial information. Armed with this informa- tion, a criminal can com- mit identity theft or finan- cial theft. If you receive an unsolic- ited email that appears to be from either the IRS or an organization closely linked to the IRS, such as the Elec- tronic Federal Tax Payment System (EFTPS), report it by sending it to phishing@ irs.gov. SCAM ALERT Phishing remains on the IRS Dirty Dozen list of tax scams Ever wonder what to do with all that left over paint you have? How about the dead batteries that came out of your hand-held re- mote control? Should you throw that old fluorescent light bulb from the garage into the trash? Paint, batteries and flu- orescent bulbs are all con- sidered household haz- ardous waste (HHW) and should not be put in the trash. Cleaning prod- ucts, stains, and solvents are also HHW. HHW con- tains elements that can be harmful to both peo- ple and the planet and re- quire special care. So what do you do with HHW? Recycle. Some HHW can be recycled at its end of life. Visit www.tehama- countylandfill.com or call 528-1103 for information on recycling HHW like used motor oil, batteries, fluorescents and paint. Safe disposal. All un- used HHW should be taken to either the Te- hama County HHW Facil- ity or the Corning HHW Facility during a collec- tion event for proper dis- posal. Visit www.tehama- countylandfill.com or call 528-1103 for information on facility hours. The best thing for your health is to not buy haz- ardous products in the first place. There are many great non-toxic al- ternatives to many prod- ucts that are deemed HHW and many save money. If you must use these items, use them in their entirety. If there are remnants, dispose of them responsibly. While HHW is free for residents to dispose of at the time of drop off, it costs local government a signif- icant amount of money to properly manage. This cost is then passed on to the public through landfill and garbage fees. Due to the fact there are other viable options for these toxic products and they are so tricky to dispose of, a new ideol- ogy is catching hold in the United States — prod- uct stewardship is the idea that manufacturers of haz- ardous products become stewards of them at end- of-life. Why should manu- facturers be responsible? Manufacturers can often recycle the old product into new products more cost-ef- fectively than government using reverse distribution systems. This ideology lifts costly burdens from local governments and taxpay- ers and grows private sec- tor jobs. You can save money and have a positive impact by following the mantra: Buy less hazardous products and use safer alternatives when you can, and bring leftover products to house- hold hazardous waste col- lection events. HOUSEHOLD HAZARDOUS WASTE Proper disposal options for county residents LASSEN VOLCANIC NATIONAL PARK COURTESYPHOTO Sulphur Works and Brokeoff Mountain at Lassen Volcanic National Park. Mon.-Fri.9AM-5PM (530) 527-6166 78 Belle Mill Road Red Bluff, CA GAUMER'S Jewelry • Museum • Lapidary RememberYour Special Someone On Valentine's Day Open Saturday Feb. 14 th 10am-4pm 604MainSt.,RedBluff (530) 529-5154 www.redblufflosmariachis.com Parties-Reunions Rehearsal Dinners Corporate and Private Events Bookyournexteventtoday! Celebrate Your Love Join us on February 14th for our Valentine's Special Covered California Affordable Care 530-840-6611 805 Walnut Street Red Bluff Cornerof Walnut & Jackson Lic# OCO5427 ENROLLMENT Ends February 15 th NeedaDoctor? Wehavetherightoneforyou. This Complimentary Service... will help you find a doctor who is right for you. Call 888.628.1948 any time or visit dignityhealth.org/doctor redbluff.mercy.org HellohumankindnessTM 40ChestnutAvenue Red Bluff 530-330-1096 BRING BALANCE TO YOUR BODY Bring balance to your LIFE LeBarre startinginMarch! Balance, Agility, Resistance, Recovery & Eloquence! Regular Haircut $ 2 00 off KWIK KUTS FamilyHairSalon 1064SouthMainSt.,RedBluff•529-3540 ANY RETAIL PRODUCT 20 % off withanychemicalserviceof $50 or more Notgoodwithotheroffers Expires 2/28/15 With coupon Reg. $13.95 LIFESTYLES » redbluffdailynews.com Thursday, February 12, 2015 MORE ATFACEBOOK.COM/RBDAILYNEWS AND TWITTER.COM/REDBLUFFNEWS A4