HLN Money Expert Clark Howard

The average person who buys bottled water blows $1,400 a year, not to mention the environmental angle I never talk about. People who are into “going green” think bottled water is a disaster.

Bottles that never end up degrading fill up landfill space, and when you add in packaging and delivery costs, it’s an absolutely terrible, abysmal waste, whichever way you look at it.

Well, a town in Australia decided it had enough. And they banned bottled water. Banned it! And it’s the ban heard around the world. Because if you want to create a nightmare for the bottled water industry, you make their product illegal. And that's what happened in the tiny hamlet of Bundanoon, Australia, about 100 miles from Sydney. This appears to be the first community in the world to completely stop selling bottled water.

Here's a bulletin for you: we don’t know where most bottled water comes from. Because bottled water, under the alphabet soup of federal regulation, is very lightly overseen.

Bottled water manufacturers are not required to disclose where their product came from. So, you could be paying big money for water that comes from the tap. And in most cases, bottled water is only checked for safety about 12 times a year, whereas tap water is usually tested several times a day.

If you’re still not comfortable drinking from the tap, then consider a compromise that will still save you around 90 percent of the cost. And that is to use one of those simple filtration systems for tap water.

You can buy a water filter for your home that cost about four dollars. Whatever gives you the confidence that you're comfortable not wasting money on bottled water anymore is fine with me. So just think about it. It’s something we are way overdue for in this country.

Having trouble managing money? Do your money goals seem impossible? Clark Howard wants to help you! We're looking for individuals or families who are willing to be profiled on HLN. Those chosen will get money advice and information from Clark Howard.

Babysitting is a great way for teenagers to make some extra cash, but this teen wants to take it a step further.

KATHERINE:
I'm 16 and my main source of income is babysitting. I have a little over $830 in my checking account at a local bank. My account is a student account, and therefore earns no interest. I would like to think about investing in a mutual fund of some kind. I was wondering if you could tell me if that is a good choice. If not, what would you suggest?

CLARK:
There's a company called T. Rowe Price which is a wonderful company for you to look at for opening a mutual fund. And they will allow you to open one as long as you agree to put $50 every month into the account. And T. Rowe Price offers some magnificent mutual fund choices. And I'm going to say something really crazy for you at 16: I want you to go into their target retirement fund 2050. That's a long time down the road but you want to invest your money as if it really is for a goal far, far away.

For more advice from Clark, tune in to Clark Howard Saturdays and Sundays at noon and 4 p.m. ET on HLN.

Do you need a Money Coach? Send us an iReport video with your money questions and tell us why you need the Money Coach.

Having trouble managing money? Do your money goals seem impossible? Clark Howard wants to help you! We're looking for individuals or families who are willing to be profiled on HLN. Those chosen will get money advice and information from Clark Howard.

This week's question comes from Will Hickey in Arlington, VA:

I'm concerned about retirement. I have a 401k from my old job that I never rolled over. I have a 401k from my current job, and then I've got a little bit of extra money that I'm setting aside to invest, but I don't know what to do with it.

I’m really hoping to get a push in the right direction because there are so many different terms and ways to invest out there, so many different ways people talk about planning for retirement. I’m hoping to have a plan or be able to get the pointers so that I can formulate a plan for my retirement.

I really don't feel confident in the amount I have invested right now. I would've started my 401k earlier, but in my 20s I wasn't paying attention. Now, I have to.

Hear Clark’s advice for Will this weekend at noon on HLN.

Do you need a Money Coach?  Send us an iReport video with your money questions and tell us why you need the Money Coach.

MYRON:
I paid my mortgage with U.S. postal money orders which were sent certified mail. The company representative signed the registered receipt, but there's no record showing that I made the payment. I am now being asked to pay the mortgage again as well as late fees. What can I do?

CLARK:
That is a terrible situation. What you do first is contact your state banking regulators and tell them what's going on. In each state, mortgage companies are regulated either by the state banking department or some organization of similar name. And that's who you file a complaint with.

You must also contact the mortgage lender back and say, "Let me tell you what I'm doing. I filed a complaint against you with my state. I'm also filing a complaint against you with the Office of the Comptroller of the Currency." That's at OCC.gov. And let's see if that doesn't start getting them moving because you've done everything right. You've documented everything with the money orders and the certified mail. Shame on the lender.

For more advice from Clark, tune in to Clark Howard Saturdays and Sundays at noon and 4 p.m. ET on HLN.

I have had more calls than ever before this year from would-be entrepreneurs or from people who are already in business who are dealing with funding being choked off for their business.

We went through the situation back in May with Advanta, a big lender to small businesses, shutting down all lending. This week, we narrowly had a temporary stay of bankruptcy for CIT Group with a $3 billion bailout.

It is the canary in the coalmine that there is a real shortage of funding available right now to people who want to start a business or are operating a business. A lot of the community banks that small businesses have depended on as a reliable source of borrowing and lines of credit are short of money and have not been able to supply the funding for small business.

Well, now the U.S. Treasury Department is apparently days away, maybe not more than a week or two, from making $15 billion in funding available to small businesses. This was an initiative of President Obama to try to free up money for small businesses, but it took from this past winter – not too long after the president took the oath of office – until now to get all the procedures in place to have the $15 billion start to flow.

It means that if that you, as an entrepreneur or small business operator, found that the teller window was closed to you on borrowing through the Small Business Administration, it is opening up.

Now, $15 billion is a lot of money and, then again, not a lot of money when you consider the number of entrepreneurs out there who need access to funds to either open a business or grow a business. But it is something that should help the flow of capital for people who are small business owners.

Tune in to Clark Howard Saturdays and Sundays at noon and 4 p.m. ET on HLN

COLLEGE BOUND

DONALD:
I want to start saving for college for my grandchild that I do not have. What is the best way?

CLARK:
That is great optimism, Donald, because you've already decided that your to-be-born grandchild is going to be college material. Love that. Alright, the reality is, with a 529 college savings plan you are not allowed to open an account until there's someone to name as a beneficiary. But there's a way around the beneficiary issue.

Here's how you do it: You can set up a 529 account, college savings plan (tax free) and name yourself as beneficiary of the account you own. Then, when your grandchild is born, you simply change the beneficiary designation to that new bundle of joy, your new grandchild.

IMPORTANT NUMBERS IN THE WRONG HANDS

RYAN:
My lawyer accidently gave my social security number to a family member I cannot trust. This person also knows my birth date, address, employer etc. What is the best plan to "cover all my bases" and be sure that this information isn't used to open new credit cards or loans without my knowledge? Thanks

CLARK:
Ryan, if I ever knew somebody who was made-to-order for doing a credit freeze, you are the one. With a credit freeze, all this information in the hands of your relative does them no good to open accounts in your name. What you do is, you put in to place a freeze with Equifax, Transunion and Experian and once you have those freezes in place, and depending on the state and your situation, it's from zero dollars to ten dollars to put a credit freeze in place.

Once you put those in place you don't have to worry anymore, because each bureau assigns you a secret code that's even different for each bureau. So if this relative you don't trust goes to open a new credit card or whatever, and they don't know your secret code they're shut down cold.

FOR MORE ADVICE FROM CLARK VISIT CNN.COM/CLARKHOWARD

New data out on rentals in the United States shows that the number of empty apartments is the highest it's been in a generation. You have to go back into the mid 1980's to find a time that this many rental units were empty. This is completely upside down and backwards from what people in the apartment industry expected.

There are a great number of people who own condos, or single-family homes that have stuck to them like glue. They can't sell them, and they have become a shadow rental market. That has created direct competition because every rental unit that exists is a competitor of a traditional apartment complex, whether it's a traditional apartment complex, condominium, or a house. Second, a large number of people in their 20's, who would be at a point in their lives where they may be out renting an apartment, have moved back home with family.

So there's all these different factors all wrapped up and opportunity for the roughly one-third Americans who are renters. But it's opportunity that you only get if you choose to seize it.

Are you a renter who wants to benefit? How do you do it?

You should do a very active survey and search of traditional apartments that are near you. Then use the information that you have collected and go to the rental agent or landlord or management office and you lay it out. Give them a copy of your survey. What are they going to offer you? They need to see that you are really serious and you've done your work and these are the alternatives in the market place. You may be very surprised at the offer that your landlord will come back with to keep you.

Because for them, even if they have to give you considerable rental concessions to keep that apartment occupied, the reverse is this: The apartment goes empty. There's no rental income coming from that apartment. And they then have significant expense finding a new tenant to take that place. So you have all the power if you choose to use it. The ultimate power though is you have to be willing to walk!

Clark Howard airs Saturdays and Sundays at noon and 4 p.m. ET on HLN.

Just last week, President Obama announced Dr. Regina Benjamin as his choice to be the next surgeon general of the U.S.   He referred to her as a "relentless promoter of prevention and wellness programs" after witnessing first hand the great number of lives cut short by diseases that could have otherwise been deterred.

Benjamin said that diabetes, hypertension, HIV and lung cancer from smoking were among the reasons her immediate family was not there, at the announcement. 

As CNN continues to examine many of the issues facing African-Americans with "Black in America 2," (Watch July 22 & 23 at 8 p.m. ET) a major topic that comes up is health. I wanted to answer the question: What steps can be taken immediately to stop these devastating diseases and their complications later in life? 

I turned to Dr. Elizabeth Ofili, chief of cardiology and a professor at the Morehouse School of Medicine, in Atlanta, Georgia.  She stressed that the measures you take to delay or stop one condition overlap with the prevention of others.  Diabetes and high blood pressure are major threats to the African-American population, she said.  Obesity – a risk factor for so many chronic conditions – continues to be a chief concern in the black community, according to a new report by the CDC.  

But there are some immediate steps people of any race can take to keep from becoming a statistic. 

1.) Knowledge is half the battle. Awareness of your family history enables you to take steps to avoid, delay the onset of, or slow down a condition.  Ofili suggests being very diligent about keeping a record of what runs in the family. 

2.) Jump into action.  The other half of the equation is taking action.  Many people may find themselves overwhelmed with all of the available information.  Sort through what is relevant to you and your family's health history - set aside the rest. 

3.)  Walking works. Aim for a simple 30-minute walk three times a week, then graduate to five times a week.  Walking consistently will help you maintain your weight and keep your blood pressure in check. You don't have to jog or run to reap the health benefits. 

4.)  Keep stress in check.   Stress hormones cause the heart to beat faster and blood pressure to go up - something most of us have experienced.  Using food as a coping mechanism against stress also contributes to obesity and hypertension.  Ofili says each person needs to decide which stress-buster works best for them, whether it's yoga, walks or finding time to reflect each day.

Finally, Ofili encourages everyone to be their own advocate in health, but not to hesitate drawing in other resources.  Engage your physician - or another expert in nutrition, physical fitness or wellness – as a partner.

Health Minute airs daily on HLN from 10 a.m. to 6 p.m. ET weekdays

If you live close to work, biking to the office may be a great way to incorporate exercise into your day. I know a former self-professed couch potato who now rides 20 miles round trip to work. He walks into the office full of energy and ready to go. And, he's lost 30 lbs. But biking poses safety challenges for beginners, as well as more experienced riders. We spoke to Dr. Ian Greenwald, an emergency room physician at Emory University Hospital in Atlanta, Georgia, about the benefits of biking, and the best ways to ensure you have a safe commute.

1) Seeing is believing. According to Dr. Greenwald, one of the biggest problems for bikers is – no surprise - drivers. To put it simply, drivers often don't see people on bicycles. Cyclists don't register. So what can you do about it? Make yourself as visible as possible: Get a light for your bike, another for your helmet and wear a reflective vest. I've even seen a guy with what looks like a small kite trailing behind him as he cycles. The key is to jar drivers into comprehending that they are sharing the road with more than just motorized vehicles.

2) Don't be a speed demon. It may be fun to go fast on a bike, but speed is not your friend when riding through traffic. It fact, it can be downright dangerous, especially when going through an intersection. Stopping at a moment's notice can mean the difference between staying on your bike or landing on pavement. Going slowly also enables you to make eye contact with drivers as you approach and then enter an intersection. The smartest way to bike is to always be on the defensive.

3) Planning is everything. It may take you a little longer to get to work, but traveling on the least congested roads is the best way to get to the office safely. This may mean cutting through neighborhoods and perhaps climbing a few more hills, but it's worth it in the end.

Biking offers tremendous health benefits to those of us who are fortunate enough to be able to get out and ride. It's good for the heart and easy on the joints. The aerobic workout helps us feel refreshed and ready to focus on the problems at hand, and makes sleeping easier when we call it a day.

Health Minute airs daily on HLN from 10 a.m. to 6 p.m. ET weekdays

Looking for a job? Not only is it harder to find one in this economy, but now you have to watch out for scam artists. More and more people are vulnerable to schemes that prey on people looking for employment, according to the Better Business Bureau.

1) The most common schemes

Some common schemes include having to pay for a credit report. You may be asked to fill out personal information on what is, in reality, a fake job application form. Or, there may be a fee charged on a background check. Scam artists may try to get victims involved in a money laundering scheme involving counterfeit checks. They may also try to get people involved in work-at-home scams where money is paid upfront for services that are never received.

2) Know the red flags

Here are some red flags you should watch out for. First, beware of spelling or grammatical errors. Most online fraud is done by scammers who are located outside the U.S. And their first language usually isn’t English. Be wary of requests for your Social Security number. And don’t believe any claim that you can get rich quickly.

3) Be careful with your info

You shouldn’t have to worry about using online job sites like Monster.com or Hotjobs.com. Just be careful what kind of information you release. Monster.com has a feature where you can keep some of the info on your resume private. But realize that even the most innocent information can compromise your identity.

Even where you graduated can present a problem because some thieves may try to access your student ID number - which COULD be the same as your Social Security number. Don’t put down your address on your resume; a potential employer isn’t going to be sending you anything through snail mail just yet.

For more of Gerri's Top Tips, watch CNN weekdays at 11:20 am Eastern Time.