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.

There are some things you can’t live without. BUT you can pay less for them.

1. Revisit your plans

Are you paying too much for your cell phone or your credit card? Check out Billshrink.com. This free Web site lets you enter in some information about your usage and compares this against other offerings in the market.

You'll get a personalized list of what other cell phone plans or credit cards would fit your needs and an estimate of how much you would save annually by switching.

2. Cut your auto insurance

If you’re still driving around in a rust bucket, you may want to consider dropping collision or comprehensive coverage. You may also want to consider raising your deductibles. This will lower your costs substantially. And what you do for a living can help you shave some dollars off your insurance. Some insurance companies give discounts for people in certain low-risk professions in a few states. If you're an economist, an accountant or a teacher you may be able to reduce your bill.

3. Cut prescription drug cost

Health care can be a huge drain on your wallet. But you can save money by knowing where to go. Some big box stores like Kmart, Costco, Sam’s Club and BJ’s have discount pharmacy services. Membership is not required to use the pharmacy services. If you are uninsured or have no drug coverage, make sure to tell your doctor. You may be able to get a healthy dose of samples. And think about pharmacy assistance programs. You may qualify for free or low-cost medicines. These are run mostly by drug companies. Keep in mind that you many have stringent income cut-offs. For more information, check out RxAssist.com, Partnership for Prescription Assistance at pparx.org and needymeds.org.

Bank fees are running at their highest levels on record. But you may be able to save money by going online.

1) Online banks: a better deal

By most measures, online banks are a better deal than their brick-and-mortar counterparts. They have lower fees and smaller minimum balance requirements, according to Bankrate.com.

And interest rates can be a lot higher, especially on Internet-only banks. An average savings account at a traditional bank is 0.3 percent. At an internet bank, that rate can be as high as 2 percent.

Some banks even offer online specials not found in their branches. HSBC is offering a 2 percent yield on a one-year CD online. Get that CD at the branch and you'd earn about 0.50 percent.

2) Keep you money safe

Keeping your money safe is key. Make sure the bank you’re vetting has FDIC insurance coverage. You also want to sure that the bank’s Web site has a valid security certificate so you don’t have to worry about cyber-thieves.

ATM access and cashing checks with an Internet-only bank can also be challenging. But more and more internet only banks are joining ATM networks or reimbursing customers their fees when they go to other banks’ ATMs.

3) Get the ranking

Consumer Reports rated seven of the largest online banks. Here are their top four: ING Direct, HSBC Direct, Citibank and Capital One.

Compare interest rates on banks and their products at bankrate.com.

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

About 4 million baby floats manufactured by Aqua Leisure Industries are getting recalled because of a drowning hazard. This, right before the July 4th holiday weekend.

The problem here is that the leg straps in the seat of the float can tear. This can cause kids to unexpectedly fall into the water - an obvious drowning risk. There have been 31 reports of float seats tearing, causing children to fall into or under the water. No injuries have been reported, according to the Consumer Product Safety Commission.

The floats come in a range of styles and colors. Some examples include the Baby & Me Combo, the Deluxe Toddler Racer, the Sunshade Buggy and the Quacker Float. for specific model numbers, go to the CPSC’s website at CPSC.gov.

They were sold at retailers nationwide, including Target, Toys "R" Us, Wal-Mart, Dollar General, Kmart, Walgreens, Ace Hardware and Bed, Bath & Beyond from December 2002 through June 2009.

Look for the names and model numbers that should be on the back of the float.

If you have one of these floats at home, stop using them. Call Aqua-Leisure for a full refund at (866) 807-3998. Or, go to their website at aqualeisure.com.

You may not have a bank account to match the King of Pop, but that doesn’t mean you shouldn’t put together a will.

1) Who should draft a will

You may not think you own a lot, but you may own more than you think - especially if you own a home, car or even a baseball card collection. And that means you're a good candidate for making a will.

Generally, if you have property or money that you want to direct to another person, you should make a will. If you don't have one when you die, the state you live in will decide who gets what.

What typically happens if you don't have a will, your spouse will get up to half of your assets and your kids will get the rest. Making out a will helps to ensure your property is transferred to the right person. And it might help you avoid some nasty family squabbles.

2) How to draft a will

If your estate plans aren’t too complicated, let's say you have a modest home, don’t have stepchildren, and don’t own a business, you can generally make out your will through an online program. It will cost you about $70.

But, if your situation is more complicated, say you have a vacation home or you’ve remarried, you may consider looking for a lawyer who specializes in estate planning. Keep in mind, going to a lawyer can be expensive. Generally it costs about $600 to $1000 per will, sometimes more.

3) Update your will

Anytime you have a life-changing event, you should consider revisiting your will. If you get divorced, remarry, have children, buy a vacation home - all these are indicators you should have your will updated. And don’t keep your will secret. Make sure your family knows where to find the latest copy. And keep your will in a fireproof lock box.

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

Tired of all the credit card fees? Swamped in debt from your plastic habit? Maybe you can’t even qualify for a credit card. More and more folks are turning to alternatives. Here are some options.

1) Credit union credit cards

Two Harvard doctoral students found that credit cards from credit unions were less likely to charge fees and penalties that big banks do. And when fees are involved, those fees are less. To join a credit union, you typically need to be a member of some kind of organization. Ask your employer or your college alumni organization if there's a credit union you can sign up with. To find a credit union near you, go to creditunion.coop or call (800) 358-5710.

2) Prepaid credit cards

If you’re having trouble qualifying for a credit card, you may consider opting for a prepaid credit card. Basically you deposit money onto this card and use it until the money runs out. There are no bills and no interest charges. But there are some things you should be aware of.

First, there are a lot of fees associated with prepaid cards including activation fees, transaction fees and fees when you put money on your card. In addition, these prepaid cards aren’t covered by the federal statutes that protect credit-card holders from fraud or limit their losses when cards are lost or stolen, says Curtis Arnold of Cardratings.com.

But some companies will offer some fraud protection. These cards may be a good option for younger people who are just getting introduced to the world of revolving credit since it’s a safer option than a secured card.

3) Secured credit cards

Secured credit cards operate just like regular credit cards except they are secured by a deposit held by the issuing bank. In general you have to have $500 to $1000 to get one of these secured cards. And your credit limit generally depends on the amount of your deposit. You will have to make interest payments if you don't pay in full. But if you want to improve your credit, using a secured credit card wisely can help you do that.

Watch Gerri's Top Tips weekdays at 11:20 am Eastern Time.

Bernard Madoff is getting sentenced today for running a massive scheme and swindling investors out of more than $50 billion. Prevent your money from being "Madoff’ed." Here's how:

1) Do your homework

Look at their records by going to Finra.org. That Web site is managed by the Financial Industry Regulation Agency. The Brokercheck function on this site will give you the qualifications, including licenses, registrations and exams the broker has passed. You’ll also get the brokers employment history for the last 10 years. Look for the disclosure section that will list any trouble your broker was in. And make sure you get references from past and current clients.

2) Beware red flags

Watch out if your planner guarantees big returns on investments. Investing is always risky. And results should never be guaranteed. When purchasing investments, make sure you are writing checks to a third-party custodian, like T. Rowe Price or Fidelity Investments. Don’t write checks to your financial adviser directly, says Doug Flynn of Flynn Zito Capital Management.

And finally, you should never feel pressured to buy a specific product. Be wary of any adviser who dodges your questions or tries to put a positive spin on everything. Make sure they are a fiduciary - this is an ethical standard. A fiduciary is legally bound to watch out for your best interest. If someone does not have this designation, they are not required to put your best interests first, says Wayne Cooper of Wealth Management Exchange.

3) Know the potential conflicts of interest

Find out how your financial adviser gets paid. Some charge by the hour or a flat rate. Others earn money through commissions on products they sell. It’s not unusual for planners to have working relationships with companies that sell insurance policies or mutual funds. Make sure get a written description of any conflicts of interest.

If you’re in the market for financial planner, it's worth your while to check out fee-only advisers so you don't have to worry about anyone selling you a product for their personal gain.

Watch Gerri's Top Tips daily at 11:20 am Eastern Time on CNN.

Drowning in student loan debt? Starting July 1, there will be a new student loan program designed to help struggling grads make their payments.

1) Get the details

Starting next Wednesday, some college grads will be getting lower loan payments thanks to the government’s new Income Based Repayment Plan. This program calculates your monthly payments based on your income and your family size. So who qualifies? If you're a graduate with a Stafford, Graduate PLUS loan, or you have a consolidation loan made under either the Direct Loan or Federal Family Education Loan programs Direct Loans or a Federal Family Education Loan programs, you may qualify. But as a general rule of thumb, your debt must be 1.5 times more than your gross income. To calculate your eligibility, go to Finaid.org.
The Parent PLUS loan does not qualify for this program. The eligible loans can be new ones just entering repayment or loans that have been in repayment for years.

2) How it works

If you qualify for the Income Based Repayment program, your monthly payments will be pegged to how much you can afford each month. Typically your loan payments will be less than 10 percent of your monthly gross income. If you make 150 percent or less of the federal poverty line (which is about $16,245 for a single person) you’ll pay nothing until your salary increases.

So, the people who will really benefit from this program are grads saddled with student loan debt who can’t find jobs; grads that have a lot of debt compared to income; and people who are going into public service. That’s because if you’re in this plan, you’re eligible for the Public Service Loan Forgiveness Program that wipes out your debt if you’ve worked full time in the public sector for 10 years. And Income Based Repayment also will forgive student-loan debt that remains after 25 years of making payments.

BUT...there are downsides to this program. You pay more in interest over the life of your loan. A reduced payment in Income Based Repayment usually extends how long you have to pay your loan back.

3) Contact your lender

Talk to your lender if you think you’re a candidate. The lender may ask for a copy of last year's tax return. More likely they will have you complete IRS Form 4506-T to have the IRS send them a tax transcript of your federal income tax return as filed with the IRS, according to Mark Kantrowitz of Finaid.org. Your lender will look at the taxes you filed last year. So, if you’ve lost a job since then or endured some other financial hardship, make sure you let your lender know.

Catch Gerri's Top Tips daily on CNN at 11:20 am Eastern Time

President Obama wants to create a consumer watchdog agency that would protect consumers from abusive credit card, mortgage, banking practices. But as talk continues in Washington, here's what you can do NOW to protect yourself from the tricks and traps of these products.

1) Get the right rate

If you have a good credit score - say, something above 730 - you should be getting an interest rate that’s below 10 percent, says Curtis Arnold of Cardratings.com. If your interest rate is higher than that, call and try to get it lowered.

2) Watch out for unnecessary fees

Did you know that brokers and bankers historically do not have any obligation to tell you if the loan they’re selling you is affordable for your wallet? It’s up to you to do the math. And when it comes to fees, there are usually so many that it’s easy to pay more than you have to.

You shouldn’t have to put up with annual fees. If you notice your credit card company is beginning that practice, now is the time to start looking at the hundreds of other cards that don’t charge an annual fee.

Remember, lenders can only charge fees for the services they provide. If you see charges you don't understand, find out what they're for and if they're necessary. Be on the lookout for things like "payment processing fees," "document prep fees" or "administrative fees" - these could be "junk fees" in disguise. Ask about them. If you're not satisfied with the answers you get, tell your lender you want a reduction - or better yet, try to get them eliminated all together.

And prepayment penalties - these are the fees you’ll pay if a mortgage is prepaid within a certain amount of time - are virtually obsolete since FHA-backed loans and conventional loans plus government programs like Help For Homeowners don’t have these penalties. That’s the bulk of loans today, according to Sam Garcia of Mortgagedaily.com.

3) Find the right product

Make sure you’re not pressured to sign anything you don’t understand. Take your time and get all your questions answered. Communication between you and the company should be frequent. It’s helpful if you’re able to talk to a human being. It's a good sign if you're notified about any changes. Disclosure is key.

Catch Gerri's Top Tips daily at 11:20 daily on CNN.

Paying for prescription drugs is getting harder. New drugs are more expensive than they used to be, and consumers are shouldering more of the out-of-pocket costs. But there is help out there.

1) Help for the unemployed

Pfizer recently announced that it would provide 70 of its most widely prescribed prescription drugs for free to people who have lost their jobs and health insurance. The company will give away the medications for up to a year to people who have lost their jobs since January 1 and who have been on the Pfizer drug for at least three months. To sign up call 866-706-2400. Warehouses like Costco, Sam's Club and BJ's also have competitive prices on medicine.

2) Use the web

The web is a great tool for comparing price. Check out the following: Needymeds.com and destinationrx.com. One word of caution here, beware of fly-by-night sites, where your risk of getting counterfeit or tainted drugs rises. Look for sites that carry the "VIPPS" seal - it stands for Verified Internet Pharmacy Practice Site.

3) Drug discount cards

Think about drug discount cards. They are available from state governments, membership associations, non-profit organizations or for-profit businesses. You may be able to save anywhere from 15 to 50 percent on certain medications. The cards may have annual fees that range from $30-$60 per family or up to $9 bucks a month. Here are some places to get discount drug cards.

Togetherrxaccess.com, Merck has a drug discount card program. Go to merckhelps.com and Pfizer also has a program called Pfizer friends. Keep in mind there may be income requirements. And of course, don’t be shy. Ask your doctor for medicine samples.

Catch Gerri's Top Tips weekdays on CNN at 11:20 am Eastern Time.