What the experts say

Raiding the 401(k) can make sense

People are usually “making a mistake” when they borrow money from their 401(k) retirement plans, but not always, said Jason Zweig in The Wall Street Journal. The percentage of employees who have taken funds out of their 401(k) plans rose from 26 percent in 2009 to 28 percent last year. Those borrowers have to pay their pretax savings back with after-tax dollars; any of them who lose a job risk having to pay the entire debt back within 60 days or face a significant penalty. Still, “there is a case to be made” for borrowing under certain circumstances. Since the interest rate on such loans is usually 4.25 percent, they can be a sensible way to pay off higher-interest credit-card debt. Just be aware that “you could have to pay it off at the very time when you aren’t earning a salary.”

The hard truth about saving on gas

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Summer drivers eyeing gas prices that often surpass $4 a gallon shouldn’t fall for the many myths out there on how to reduce gas consumption, said David Bakke in Kiplinger.com. It’s not true, for instance, that “continually stopping and starting your car’s engine uses additional gasoline.” When you’re not moving, turn the car off. And don’t shell out for engine additives or higher-premium fuel; they won’t reduce your consumption. Neither will changing the air filter, or the downright dangerous practice of putting more than the recommended air pressure in your tires. Air conditioning doesn’t notably increase gas consumption, particularly if the alternative is driving with the windows down, which makes most cars less aerodynamic. The single best way to save on gas is the obvious one: “Drive less.”

On the lookout for cramming

Giving your monthly phone bill more than a cursory once-over could pay off, said Kathy M. Kristof in the Los Angeles Times. The Federal Communications Commission reports that 15 million to 20 million Americans a year are being “crammed,” or charged for bogus services they never requested. Terms like “service fee” or “membership” often hide charges ranging from long-distance call plans to fees for hotline memberships or yoga classes, which are billed through the phone provider by authorized third parties. The FCC has begun a crackdown on cramming and is now levying fines on several phone companies. But the best way to protect yourself is “to scrutinize your phone bill and ask questions about anything you don’t recognize.”