As expected the Senate approved a $626 billion bill to fund the Defense Department for the fiscal year that began almost three months ago.  The bill was approved via an 88—10 vote.  The bill next stop is the White House where President Barack Obama is expected to quickly sign the bill into law.

The bill includes $128 billion for wars in Iraq and Afghanistan, $13.3 billion to extend unemployment and COBRA benefits for the long-term unemployed whose benefits would otherwise expire.

Good news for those of you unemployed.  The House of Representatives today passed a temporary extension of unemployment benefits and subsidized COBRA health insurance for laid-off workers as part of a $636 billion spending defense bill.  The measure was approved on 395-34 vote.

The Bill extends the COBRA subsidy by 6 months to a total of 15 months where 65% of the premium is paid by the government.  This is for people who lost their jobs through February 28, 2010.  People who lose their jobs after December 31, 2009 are not eligible for the subsidy. The legislation requires employers to notify current COBRA and future beneficiaries of the new 15 month premium subsidy.

Additionally, the new legislation will give beneficiaries whose subsidy expired and who didn’t pay the full premium a second chance to get coverage. For example, a beneficiary whose nine months of subsidized coverage ran out November 30 and who didn’t pay the regular unsubsidized December premium could pay the 35% premium share in January and receive coverage for December.

The Senate should pass its defense bill with the same extensions this Friday.

Bank of America is offering their customers a 1 year free trial of McAfree Internet Security software to protect your computer against viruses, spyware, adware, phishing, spam and hackers. (See demo)

Most free trials are for 30 days so this is a great deal.  A credit card is required to get the free trial.  You have to remember to cancel if you don’t want to purchase the software after 1 year.

Your trial will automatically renew at the end of the 12 month free period for another 12 months at 50% off (a $34.98 value).  To cancel this automatic renewal, you can contact McAfee Customer Support at 1.866.622.3911 prior to the expiration of the free offer.

To get your McAfree free trial visit BankOfAmerica.com/promos/mcafee

Related Article: Save Money with Free Anti Virus Software

College is getting more expensive every year. The earlier you start to plan, the easier it should be to pay for it. Below is a worksheet that will help you determine how to finance your child’s or your college education.

Today the Senate voted overwhelmingly to provide the unemployed with up to 20 additional weeks of unemployment benefits and expand the first-time homebuyer tax credit to include a much larger pool of people entering the weak housing market.  

The bill will help over 1 million unemployed people who will run out of unemployment benefits by the end of this year.  The unemployed will get 14 additional weeks of benefits, while states with unemployment rates of 8.5% and above will get an additional 6 weeks.  It’s estimated that 7,000 people run out of unemployment benefits every day.

In the hardest hit states the unemployment could get up to 99 weeks of benefits with an average payment of about $300.  This exceeds the previous record of 65 weeks in the 1970s.

The bill passed 98 to 0 at a cost of $24 billion also provides tax relief for struggling businesses. The bill extends to all businesses that have losses in 2008 and 2009 to request refunds for taxes paid on profits over the past five years.

Additionally, as part of the bill, the $8,000 tax credit for first-time homebuyers, set to expire this month, will be extended and expanded to include a $6,500 tax credit for people who have lived in their current residences at least 5 years. The $8,000 tax credit is extended through June 2010  as long as buyers enter into a binding contract before April 30, 2010. The income ceiling for qualification has been doubled to $125,000 for individuals and is available for homes purchased at or under $800,000.

Related Article: 13 Things to Know About Unemployment Insurance

With the Internet you can really save money on certain services like your telephone by using Skype and Magic Jack.

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Green appliances for your home can put money in your pocket.  Household appliances account for about one third of your homes energy consumption excluding heating and cooling.  Green appliances also help the planet!

Energy efficient appliances often are more expensive; however, you’ll make the money back because eco-friendly appliances use up to 30% less energy.  Eco-friendly appliances are usually better designed, such as clothes washers holding more clothes, dryers that are more efficient and stoves that heat up faster.  This all adds to the hundreds and eventually thousands of dollars in savings over the years.

Washing Machines
Front loading washers save money because they use less water and less energy saving you about $100 per year.  Front loaders use considerably less detergent which is gentler on your clothes.  This allows you to save on detergent and your clothes lasting longer.

Clothes Dryers
Save money by choosing a model with a moisture sensor that will shut off the unit when your clothes are dry.  This saves on electricity and saves your clothes and linens from unnecessary destructive overheating.  Stay away from dryers that measure the temperature of the exhaust air to determine when the laundry is dry.  These units are not as effective.

Dishwashers
Choose a dishwasher that gives you the option to use the heated dry function, which allows your dishes to air dry thus saving you money.  In the winter time you can open the dishwasher door to release warm air that will humidify you home.  An internal water heater will allow you to increase the water temperature when needed allowing you to turn down the temperature of your home’s water heater thus saving you money.  Finally, find a model that uses less water.  This can reduce your water consumption by 1,000 gallons per year and electricity usage by up to 25%.

Water Heaters
About 14% of a household energy cost goes to the water heater, according to the Department of Energy.  Unfortunately, the majority of the money used to power your water heater maybe going right down the drain because traditional water heaters fill to capacity and heat the entire tank.  Your home may not need as much heated water.  You can avoid this waste by installing a tankless water heater that heats the water on demand.  A gas fired tankless water heater can pump 5 gallons per minute keeping up with the busiest family.  Electrical tankless water heater cost between 10% and 20% less per year to operate than a tank-based heater, according to the National Association of Home Builder.

Refrigerators
Your refrigerator is most likely the most power hungry appliance compared to the ones listed above.  An old refrigerator can cost you about $300 per year in electricity cost.  Purchasing a smaller unit will reduce your electricity cost.  Find a model with the freezer on the top or bottom because these units use 13% to 16% less energy than units that are side-by-side.  If you can give up the icemaker and cold water dispenser, this will reduce your energy by 13% to 20%.  Models with an “anti-sweat” heater to eliminate moisture on the exterior will add 5% to 10% in energy consumption.