Thirty-Five Minutes to Riches

Get credit, even in a crunch

Time it takes: 15 minutes

Apply for a home equity line of credit. Don't tap it now unless you must (average rates are 8.75%). But in an emergency - say, when you've lost your job - you may find it tougher to qualify. Start by calling your bank, but go to bankrate.com to compare its offer with those from other nearby lenders.

Read your mortgage

Time it takes: 30 minutes

Only now are many borrowers with risky loans finding that they misunderstood the terms. First pull out the one-page Truth in Lending Disclosure your lender gave you: The APR on it is the best estimate of what you are paying. Lower rates mentioned in other loan documents are likely come-on offers. If your rate is variable, scan the adjustable-rate disclosures section of your mortgage for the date it changes and the highest it can go. Examine every page for the words "prepayment penalty."

Stop overpaying on your mortgage

Time it takes: 9 minutes

If you carry private mortgage insurance but now have 20% equity in your home, see whether you can cancel. Your mortgage servicer (the phone number is listed on your bill) usually must oblige if your down payment and principal payments exceed 20% of your home's original value. Many will do so if rising prices have pushed your equity to 20%.

In this case, canceling will take longer: Most mortgage companies require an appraisal, which costs around $300. But at homegain.com, realestateabc.com or zillow.com you can get an idea of whether your home value has risen enough to justify a call.

Create an insurance record

Time it takes: 29 minutes for a 2,200 sq ft home

Walk around your house with a camera. Shoot closeups of your jewelry, artwork and other valuables. If disaster strikes, this proof of what you owned will speed your claim and help you get a better settlement. Keep copies of the video or photos in your safedeposit box or elsewhere outside your home.

Curb impulse buys

Time it takes: 10 minutes

By one estimate, two-thirds of all purchases are unplanned. To keep impulse shopping in check, ask the clerk to hold your wished for item, then take a 10-minute stroll. Next ask yourself whether you truly need this sweater/video game/golf club and how you'll pay for it.

Spend consciously

Time it takes: 35 minutes

At the grocery store, you're up against tempting displays and smells in every aisle. To avoid being ambushed, you need to follow a strict plan. Take 35 minutes to make a shopping list that follows the layout of the store (no straying) and calls for stocking up on sales items. To see the specials at stores nearby, enter your zip code atmygrocerydeals.com.

Slash recurring charges

Time it takes: 10 minutes

It seemed like a good idea - for just $16.99 a month, you could rent three DVDs at a time as often as you wanted. But how often is that really? Scan your credit-card statement for those automatic monthly charges you normally just pay. Ask yourself whether you're getting your money's worth. How often do you go to the $75-a month gym? How about that cheese-of-the-month club? Cancel what you're not using.

Boost your mileage

Time it takes: 7 minutes

About half of car owners don't test the air pressure on their car tires often enough, according to the Rubber Manufacturers Association. The recommendation: Do it once a month or before any long trip. The payoff: Properly inflated tires improve your fuel economy by 3.3%. You can buy a pencil tire gauge for less than $10. Check the pressure when your tires are cold. If they need air, head to a gas station within a mile of home.

Find it cheaper online

Time it takes: 30 minutes

Before you buy anything on the Web (or at a mall), spend a few minutes at a comparison shopping site. Shopping.com and Shopzilla.com both scour the Net for bargains at a large number of online stores, but their results can vary. Looking to buy a Garmin GPS for your car? Shopping.com found one from a top retailer for $357.95; Shopzilla's find was $212.54.

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