Of course everyone is talking about Christmas shopping, and I am no different.
Looking back several years, I spent a ton of time in stores that I didn't really want to be in. For example, I spent an hour in line just to check out at a Best Buy a few years ago, for some random Black Friday deal. Bleh. Looking back, I can't believe I wasted that time.
Seeing as how today is "Cyber Monday," maybe it is fair to talk about the difference between standing in line, and having your items shipped right to your place.
My preference, overwhelmingly, is to get whatever the heck it is I want to buy shipped straight to my place, rather than drive to the store. I save the commute, the hassle of standing in line, and the stress.
The cost of said simplicity? Usually it results in a savings, as opposed to an increased cost.
When shopping online, I use Amazon.com quite a bit. They offer free shipping over $25 on a bunch of items, and their variety makes it easy to get what I need, at a good price. I also peruse the forums at Fatwallet and Slickdeals, as they enable me to find the best deals. Fatwallet is a favorite of mine as well, because they offer a bunch of cash back offers through their "Fatcash" which rewards you for using their shopping portal. Many times, I have combined Fatcash with a coupon or other offer and saved a ton of money compared to MSRP. True to form, many of the longtime members of the sites call anyone paying MSRP "suckers," as there is always a deal somewhere!
I also use Google's portal for comparison shopping, and often compare prices (with shipping and fees) to Ebay as well.
With all of the online resources, why pay retail anymore? With coupon codes, and free shipping offers, it makes more sense to have everything delivered while you have a cup of coffee!
I hope this helps you with your holiday shopping!
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Monday, November 30, 2009
Free online finance book
Rick Ferri is CEO of Portfolio Solutions, a low cost investment management firm.
He has a free book online that is completely readable, and very timeless advice.
I highly encourage anyone interested to check out the book!
Serious Money
If you like this material, head to your local library and grab some more!
He has a free book online that is completely readable, and very timeless advice.
I highly encourage anyone interested to check out the book!
Serious Money
If you like this material, head to your local library and grab some more!
Saturday, November 28, 2009
Dilbert Guide to Personal Finance
The cartoonist Scott Adams, famous for creating the Dilbert comic strip about office humor, also created something about personal finance.
In a quick, concise, and simple guide, he breaks down the basics in less than 150 words.
Enjoy!
Dilbert Guide
In a quick, concise, and simple guide, he breaks down the basics in less than 150 words.
Enjoy!
Dilbert Guide
Monday, November 23, 2009
Micro Transactions
When I started getting more serious about saving a few years ago, I had trouble thinking about getting started. It seemed like the big numbers I wanted to try to save were just too big. Then I started to look at it from a different perspective. When you "chunk" away at saving by breaking it into smaller pieces, it decreases the pain from saving. For example, if you are trying to put $2,000 into your Roth IRA, it really sucks to write that entire check for a lot of people. An easier route may be to set aside (with automatic deductions) $80 per paycheck.
Another tactic I used was looking at so called micro transactions. These are those small purchases that tend to add up quickly, and really hurt your savings potential.
Let's take a look at a few easy ways to spend a lot of money without really thinking about it.
You have work early this morning, but you have a second after your shower to load up your iPod with some new tunes. You grab that new single that you can't get out of your head, and play it as you finish getting ready. You realize you are not going to have enough time to make coffee. It's early, you had a late night, and you want some coffee for work. You decide to stop at Starbucks on your way, and grab a large specialty drink for $4. It's only $4 + tip, and you're making money today at work, so why not treat yourself? After that quick stop, you grab gas at the station next door, even though the station charges you extra for using your card. After a twelve gallon fill up, you notice they charge an extra ten cents per gallon when you use your card. Oh well, it was very convenient, and you needed gas to get to work.
The morning goes well, but you forgot your lunch as you rushed out the door, so you go out for lunch and spend a few dollars more than you really meant to. Again, you remind yourself that you are working today, so it's OK to spend a few extra bucks. It's food, and you're hungry, so you grab a $7 value meal with chips and a drink. Back at work, the afternoon is dragging after your lunch, so you decide to grab an energy drink. Because they are on sale price when you buy two, you grab an extra because you know you will need it for Wednesday. Finally work is done, and you head home. Once you get home you order pizza because it was a long day, and you don't feel like eating your lunch you forgot to take with you this morning. You click on your cable and call it a night!
*****
By the end of this story, I think it's very apparent there are some places that would be easy to adjust to that would save you lots of money.
1.29 (music) +5 (coffee drink w/tip) +1.20 (gas surcharge) +7 (lunch) +5 (energy drinks) + 25 (pizza w/tip) = $45.49
Let's half that amount, and use that for some quick math. ~$22 per day/4 days a week.
So four days a week, you spend quite a bit more than you really mean to on stuff you probably don't really need. While spending money on stuff we don't really need is part of why America is such a great nation to live in, it does not help your savings goals.
$88/week X 50 weeks (let's say you take a few extra days to save in there) will leave you with $4400 missing from your savings account, and nothing to really show for it.
I used to make many of these choices quite often, and I still do...but I am definitely more aware when I do! It's even easier to avoid spending on extra things that don't meet your savings goals when you set your account to automatically set money aside in a different account.
Remember that $80/paycheck I mentioned at the beginning? Yea, we just doubled that, and if you give it a shot you may not even miss it after a few weeks.
Another tactic I used was looking at so called micro transactions. These are those small purchases that tend to add up quickly, and really hurt your savings potential.
Let's take a look at a few easy ways to spend a lot of money without really thinking about it.
You have work early this morning, but you have a second after your shower to load up your iPod with some new tunes. You grab that new single that you can't get out of your head, and play it as you finish getting ready. You realize you are not going to have enough time to make coffee. It's early, you had a late night, and you want some coffee for work. You decide to stop at Starbucks on your way, and grab a large specialty drink for $4. It's only $4 + tip, and you're making money today at work, so why not treat yourself? After that quick stop, you grab gas at the station next door, even though the station charges you extra for using your card. After a twelve gallon fill up, you notice they charge an extra ten cents per gallon when you use your card. Oh well, it was very convenient, and you needed gas to get to work.
The morning goes well, but you forgot your lunch as you rushed out the door, so you go out for lunch and spend a few dollars more than you really meant to. Again, you remind yourself that you are working today, so it's OK to spend a few extra bucks. It's food, and you're hungry, so you grab a $7 value meal with chips and a drink. Back at work, the afternoon is dragging after your lunch, so you decide to grab an energy drink. Because they are on sale price when you buy two, you grab an extra because you know you will need it for Wednesday. Finally work is done, and you head home. Once you get home you order pizza because it was a long day, and you don't feel like eating your lunch you forgot to take with you this morning. You click on your cable and call it a night!
*****
By the end of this story, I think it's very apparent there are some places that would be easy to adjust to that would save you lots of money.
1.29 (music) +5 (coffee drink w/tip) +1.20 (gas surcharge) +7 (lunch) +5 (energy drinks) + 25 (pizza w/tip) = $45.49
Let's half that amount, and use that for some quick math. ~$22 per day/4 days a week.
So four days a week, you spend quite a bit more than you really mean to on stuff you probably don't really need. While spending money on stuff we don't really need is part of why America is such a great nation to live in, it does not help your savings goals.
$88/week X 50 weeks (let's say you take a few extra days to save in there) will leave you with $4400 missing from your savings account, and nothing to really show for it.
I used to make many of these choices quite often, and I still do...but I am definitely more aware when I do! It's even easier to avoid spending on extra things that don't meet your savings goals when you set your account to automatically set money aside in a different account.
Remember that $80/paycheck I mentioned at the beginning? Yea, we just doubled that, and if you give it a shot you may not even miss it after a few weeks.
Tuesday, November 17, 2009
Extended Warranties
My laptop was recently giving me some issues.
I purchased it at the end of 2007, and I'm hoping to use it until it melts.
That, or until I start getting looks similar to those still using Betamax instead of Bluray.
With that in mind, when I bought the laptop I managed to find a better deal with the purchase of an extended warrranty.
This was a little odd, as extended warranties usually add cost without neccesarily adding the same amount of value.
I managed to combine a work discount, coupon, rebate, and the warranty purchase for less than I would have paid at Best Buy. That was intended to be somewhat of a joke, as Best Buy is usually anything but on big purchases.
Usually Best Buy also hounds you to buy their extended warranty too, which I've always found overpriced.
In fact, I am usually against buying extended warranties, unless I know there is a part that tends to die after so many uses/hours.
I purchased a Mack Cam warranty for my TV for example, because I knew the bulbs tended to go out within two years. I learned this after intensive research on Avsforum.com.
Sometimes it does make sense to purchase an extended warranty, and my laptop warranty paid off, with the motherboard, fan, and heatsink being replaced free of charge.
This also let me watch the technician do it so I can potentially do it again after the warranty is up!
I purchased it at the end of 2007, and I'm hoping to use it until it melts.
That, or until I start getting looks similar to those still using Betamax instead of Bluray.
With that in mind, when I bought the laptop I managed to find a better deal with the purchase of an extended warrranty.
This was a little odd, as extended warranties usually add cost without neccesarily adding the same amount of value.
I managed to combine a work discount, coupon, rebate, and the warranty purchase for less than I would have paid at Best Buy. That was intended to be somewhat of a joke, as Best Buy is usually anything but on big purchases.
Usually Best Buy also hounds you to buy their extended warranty too, which I've always found overpriced.
In fact, I am usually against buying extended warranties, unless I know there is a part that tends to die after so many uses/hours.
I purchased a Mack Cam warranty for my TV for example, because I knew the bulbs tended to go out within two years. I learned this after intensive research on Avsforum.com.
Sometimes it does make sense to purchase an extended warranty, and my laptop warranty paid off, with the motherboard, fan, and heatsink being replaced free of charge.
This also let me watch the technician do it so I can potentially do it again after the warranty is up!
Saturday, November 14, 2009
Update on Overdrafting
In an interesting and timely update to a previous post concerning bank overdraft fees, the Federal Reserve has announced that overdraft fees will no longer be allowed for most purchases. There is still an opportunity for banks to charge fees for some transactions, including those that are recurring, like monthly auto pays for cell phone bills as an example.
The rules go into effect July 1st, leaving the banking industry time to respond with creative changes. The industry has responded to the new credit card rules by increasing fees and charges before those new rules take place, and it will be interesting to see what changes they make in response to this threat on a huge revenue stream for them.
Yahoo News Article
One of the interesting parts of this article to me is that it seems like a direct response to Senator Dodd's proposal to strip the Federal Reserve of most of it's current authority. This also comes at a time when the public is looking for more action/magic bullet on the current economic situation, and if anything is a good image move for the Fed.
Fed Press Release
To those that want overdraft protection, it will now be most likely a "pay to play" set up. This opens the door for a consumer friendly/good PR bank to announce they will offer free overdraft protection, even if they already do.
The rules go into effect July 1st, leaving the banking industry time to respond with creative changes. The industry has responded to the new credit card rules by increasing fees and charges before those new rules take place, and it will be interesting to see what changes they make in response to this threat on a huge revenue stream for them.
Yahoo News Article
One of the interesting parts of this article to me is that it seems like a direct response to Senator Dodd's proposal to strip the Federal Reserve of most of it's current authority. This also comes at a time when the public is looking for more action/magic bullet on the current economic situation, and if anything is a good image move for the Fed.
Fed Press Release
To those that want overdraft protection, it will now be most likely a "pay to play" set up. This opens the door for a consumer friendly/good PR bank to announce they will offer free overdraft protection, even if they already do.
Friday, November 13, 2009
Steam Cleaners
Today's post is a little different.
The wife and I are looking into buying a steam cleaner to help keep our apartment cleaner. We vacuum quite a bit, but are considering adding this item to keep our carpet in better shape.
Here are the models that we are looking at currently:
Hoover F7411-900
Hoover F5914-900
Both of these are lower cost cleaners, and we are not expecting ridiculous results. We would just like to reduce the amount of dirt/dust that we have inside. My wife says our carpet looks pretty darn good, and I have to agree based on acompletely professional and scientific cross section quick and dirty review of carpets we have been witness to.
Why would we want a steam cleaner if we rent?
My argument is we will have a house someday, and I have been wanting to get the carpet professionally cleaned anyways, so why not buy our own. The cost will be less than even one professional job, and while the results may not be, I am relatively confident we will be happy. In addition, we will be able to utilize the steam cleaner for many years, "saving" additional money with each use. We should also be able to recover more of our security deposit for our apartment.
What do you think of the idea?
The wife and I are looking into buying a steam cleaner to help keep our apartment cleaner. We vacuum quite a bit, but are considering adding this item to keep our carpet in better shape.
Here are the models that we are looking at currently:
Hoover F7411-900
Hoover F5914-900
Both of these are lower cost cleaners, and we are not expecting ridiculous results. We would just like to reduce the amount of dirt/dust that we have inside. My wife says our carpet looks pretty darn good, and I have to agree based on a
Why would we want a steam cleaner if we rent?
My argument is we will have a house someday, and I have been wanting to get the carpet professionally cleaned anyways, so why not buy our own. The cost will be less than even one professional job, and while the results may not be, I am relatively confident we will be happy. In addition, we will be able to utilize the steam cleaner for many years, "saving" additional money with each use. We should also be able to recover more of our security deposit for our apartment.
What do you think of the idea?
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