The Stop Unfair Practices in Credit Cards Act of 2007 may be some of the best news consumers have had in a long time.

Introduced by Senators Carl Levin and Claire McCaskill, the bill would put legislation in place to halt the most abusive practices of credit card lenders, some of which actually prevent a consumer from ever paying off the debt. The legislation could save consumers millions of dollars in unfair penalties, fees and interest.

If a credit card holder pays off a portion of the debt during a grace period, the bill would prevent the lender from charging interest on the paid-off portion of the charges. It also restricts the charging of repeated over-limit fees for a single instance of exceeding the credit card’s limit. Additionally, lenders would be prohibited from charging interest on over-limit and late fees.

As to penalty rates on interest, those that are incurred by late payments, there is a cap that prohibits lenders from raising the interest rate by more than 7 points, eliminating double and triple interest rate hikes that could be charged after only one late payment.

Read the provisions of the proposed bill:

Stop Unfair Practices in Credit Cards Act of 2007

The price of a gallon of gasoline is closing in on the $3 range over much of the country with prices in five states, California, Hawaii, Oregon, Nevada and Washington, over $3 per gallon.

This time around the $3 mark, consumers aren’t complaining as much and seem to accept the rising prices as normal and expected.

California drivers are hit hardest with the average gasoline price at $3.35 per gallon. The lowest price in the nation is in North Carolina, where in Winston-Salem you can fill up at only $2.47 per gallon.

For those who have purchased hybrid vehicles to help them avoid the gas-crunch, there is more bad news. Traction control problems haunt Toyota’s Prius with consumer complaints increasing. Consumers living in snowy or hilly areas have had problems when the traction control, which is computer-operated, shuts down engine power in slippery conditions. Toyota maintains that the traction control is operating properly, reducing or shutting down power to the engine when it detects wheel spin. This can happen even if the car goes over a bump. Toyota has been reluctant to make any changes, causing consternation for owners.

I can remember a time not so long ago, that I would only buy a few dollars worth of gas at a time, because the price was likely to go down in a few days and it would be foolish to fill my tank with more expensive gasoline now rather than wait for a price drop.

Well, prices are headed up and up and, it seems, up. The price of a gallon of regular is up an average of 21 cents and prices are expected to increase through March.

Rising gas prices may make us groan at the pump as we watch the numbers tick off but because the increase happens over a period of time, we may not immediately notice the impact they have on our budget.

But that is the way inflation and rising prices work. Last year’s budget may not reflect your actual expenditures this year. Because we tend to include increases in income - probably because it makes us feel better about spending - and less likely to include small increases that over time take more and more of that income, our budgets can be inaccurate if not kept up to date.

Take time out, say every three months, to go over your projected expenditures and bills and adjust your budget where necessary. Only by having an accurate financial picture today can you plan and save for your future.

A car is probably going to be your biggest expense outside of the purchase or rental of your home. Paying too much for a car through purchase price or financing can leave you in the hole if the vehicle is totalled in an accident or stolen. An insurance company is going to pay only the value of your car, not the exorbitant balance left on your finance interest. Another concern is retaining good re-sale or trade value if you plan on replacing your vehicle every few years.

Consumer Reports list the top 10 best cars for holding value and the bottom 10. Not surprisingly, all of the top 10 are imports. 9 of the bottom 10 are American made models.

Check out the list.