[caption id="attachment_5920" align="alignleft" width="500" caption=" "]Photo by Creativity103[/caption]

You probably have a list of 50 things to do today as you prepare to ring in 2012 with friends and family, but I'll bet most of them will cost you money.  Here's a quick task to add to your New Year's Eve list that will actually save you some money in 2012.

To save on your 2011 tax bill, take an hour this afternoon and rummage through your closets for old clothes, toys, and household items that are just taking up valuable space.  If you come across something and it hasn't been used in 6 months, get rid of it.  Don't try to talk yourself into keeping it around because there's the slight chance you might need it at some point in the future.

Trust me, if you haven't used that old t-shirt you won at the state fair 3 years ago, you're never going to need it.  Donate it to someone who will, and earn yourself a little tax break.

 Anyone who has ever tried to choose between dozens of rewards credit cards knows just how confusing it can be. There are different amounts of points given, different types of points given, and different rewards given.  Figuring out which card is best for your situation can be a time consuming, never-ending process! But what if I told you that some of the best credit card perks don't even come from the rewards program you pick?  In fact, credit card companies are actually giving away some of the most valuable benefits just for being their friend.

*Update* December 2011: This card offer is no longer available.  Check out the current details of the Citi ThankYou Preferred Card instead. Citi ran a great promotion in October on a few sites, including Creditnet, which ended up only lasting a few weeks before it was pulled offline. Well, it's back! The Citi ThankYou Preferred Card is once again offering new cardholders the opportunity to earn up to 50,000 bonus points during the first year of use.  If you want to read all the details about the pros and cons of this credit card, check out my original post:  Citi ThankYou Preferred Card Review: 50,000 Bonus Promotion.  For a brief update, read on.

While economists tend to focus their attention on the latest stock market trends and fiscal policy, there are new consumer trends developing that hit much closer to home.  For example, the decisions Americans have been making about how often they reach for their credit cards has changed dramatically over the past few years. Indeed, consumers have adopted new spending habits that speak volumes about the lasting impact of the economic recession.

Here’s a quick glance at an interesting trend we've noticed and what it might say about the rest of the economy as a whole.

We’ve all heard the seemingly exaggerated expectations for the cost of a college education in 20 years. “A four year college is going to cost you $500,000 (if our currency still exists then) and one hovercraft!”  Seriously...hovercrafts? It seems ridiculous, and I’m certainly hoping that something is done to stem the dramatic increase in tuition costs and our future dependence upon hovercrafts as currency.  But given that both of these things seem out of my hands, I wanted to be as prepared as possible to help facilitate my kids’ college education.