I’ve Paid For This Twice Already…

Archive for the ‘Uncategorized’ Category

Usually at the heart of getting out of debt, lies an issue with personal credit.  But how often do you consider your checking account in terms of saving money?  If you answered, not often… then you should certainly think again.  Just as credit cards carry with them different APRs, minimums, and various payment options, checking and debit cards are also not created equal, by a long shot.  If you’ve got a checking account, or are just now looking to get one, these three tips can make a huge money-saving difference when choosing or using the right account for you.

- Paperless, Online Checking

Look into the paperless options for your bank or your future bank.  Going paperless not only helps the environment, it actually makes your life a lot easier.  Instead of receiving paper statements via snail mail, which takes time and man power, why not use the internet to keep tabs on your checking account?  This grants you instant access to see and track your spending, and also to see if you’re getting any bogus charges or fees each day.  Many people are also switching to internet banks in general these days, which offer some great perks, free checking accounts, and competitive credit rates worth looking into.

- Read the Fine Print

Literally two weeks ago I was checking my paperless online statement when I noticed a random $12 charge for a “monthly maintenance fee.”  After doing just ten minutes of research into the charge, I figured out that my particular checking account carried with it a minimum daily amount that I had to have in my account at all times.  If I failed to have at least that amount even just one day out of the month, then I was subject to a 12-dollar monthly fee.  How long this had been happening I didn’t even care to find out, but without diving too deep into my personal financial woes, let’s just say I wasn’t maintaining that daily minimum very often.

After doing just a bit more research, I found that by switching to a different account option with the same bank, I could completely eliminate these fees, get rid of paper statements which I never checked anyway, and save money with a unique change-saving service.  In two weeks, I’ve already saved roughly $40 with the new account.  So take it from me: read the fine print of your account specifics.  Know your options within your bank, but also….

- Compare Banks and Accounts      

While switching banks may seem like a lengthy, hassle-filled process, if it can save you money, it’s worth it.  First of all, there’s really no reason to be paying for checking services.  With all the free checking accounts out there, paying for one is a real waste.  There are plenty of sites out there that offer free account comparisons that you can easily look into.  Similarly, all major banks will have a list of the various types of accounts and the specifics of each, right on their website.  Take a little time to browse some of the major institutions, as well as some smaller ones, to see if any of them fit your needs.

Saving money with your checking account is something that often goes overlooked by bank users.  They often sign up for a checking account, throw their cash in there, and then forget about their options.  By taking just a little extra time out of your day to look into your particular account details, and compare with other existing offers out there, you could save yourself some serious money, and potentially help get out of debt much quicker.

Everyone wants to save when they walk into a grocery or retail store. In this economy everyone is looking to save a buck which is what has made sensations such as TLC’s ‘Extreme Couponing‘ so popular. Unfortunately, for the average American, extreme couponing isn’t possible. Hardly anyone has 20 hours a week to dedicate to clipping coupons and no one wants to spend their entire Saturday loading four shopping carts down with toilet paper and 40 tubes of mustard.

So what do you do if you want to save money at the store and avoid the giant stockpile at home? Follow a few of these easy couponing tips:

Look for Generous Stores

Not all stores are created equal when it comes to coupons. Look for those that allow coupons to be doubled or tripled and also allow coupons to be stacked – meaning allowing the use of multiple coupons to be used at one time – for the best chances at savings. Generous stores will also gladly accept their competitors coupons giving you a better chance at savings.

Plan Ahead

Creating a stockpile room that rivals that of apocalypse fanatics is not what is meant my planning ahead. Planning ahead simply refers to creating your life of items you actually need, cutting coupons, and then finding the stores with sales going on to maximize your savings. You don’t need to buy more than you need, and sites like CouponMom.com can help you determine which stores will give you the most savings on the items on your list.

Sign Up for the Store Rewards Program

Most grocery stores offer reward programs customers can sign up for for free. This little piece of plastic can almost become as valuable as the coupons themselves as it can give you special savings with each additional dollar you spend, and may offer other discounts only members have allowing you to get incredibly discounted or free items.

We all like to save money, but there is no reason to get the entire family involved for hours of coupon clipping simply to save some money on groceries. With just a few easy tips and some adequate planning, you can get the groceries you want without jamming the aisles or tons of envelopes stuffed with coupons. Simply play it smart and purchase only what you need with the readily available coupons. You’ll have the pantry you want without having to sacrifice a room of your home and you’ll still save.

Wow, it is really fun to see how much has changed since 1940. Check out this interesting infographic from homeinsurance.org.

Biggest change looks to be the number of college graduates. That seems to be a huge boost to society. I wonder what things will look like 80yrs from now in 2090. Oh well, I will probably be dead anyways

Via: Home Insurance Guide

This is a guest post by Jeffrey Strain who is a digital nomad and writes on a wide variety of  personal finance topics (one of which is how to avoid the timeshare trap)

In these trying economic times, most of us are doing what we can to limit spending. Thanks to clever marketing, we also have a tendency to buy certain items when we see them displayed or have them suggested by a salesperson or agent. Convenience stores, for instance, make at least 60 percent of their profits on items that customers purchase on sight. In other markets, airports, rental agencies and other service industries increase their profit margins by “upselling” at the counter or online.

While there are sometimes valid reasons to buy these items, the sad truth is that many are simply a waste of money and they are purchased because you haven’t thoroughly thought through the purchase. Here are 5 terrible impulse buys that you’d be better off saying no to .

Rental Car Insurance: Here’s a great “upsale” example that’s often unnecessary. Sales associates at rental car agencies, and even the online rental applications, always offer insurance for the vehicle at what appears to be a reasonable price because they have an incentive to do so. The fact is that the “small” fee you pay for this coverage is usually as much as or more than a typical monthly auto insurance premium, for just a single day of coverage. Before you go to the rental counter or rent online, take the time to make a call to your current auto insurance provider. Chances are you’re already covered in the rental car, too and if not, adding the additional coverage for it will cost you a fraction of what you’ll pay when renting.

Timeshares: This is an especially terrible impulse purchase because it can end up costing you tens of thousands of dollars. Think about it — would you ever consider purchasing a timeshare except when being presented with this “opportunity” while on vacation? High pressure sales tactics are employed so that you don’t have time to thoroughly research the pros and cons to owning a timeshare, and many people find out that they can’t get rid of their timeshare after paying tens of thousands of dollars for it. As with all impulse items, if you haven’t thought the purchase through so that you know it’s exactly what you want, you are better off passing.

Any Gadgets in TV Commercials: If the guy on TV says you gotta’ have it, it must be true, right? Wrong. “Call in the next hour, and get a second one FREE!” How many times per day do we hear that sales pitch? Or my all-time favorite, “But wait, there’s more!” It’s easy to convince yourself that you need what they’re selling. In fact, that’s exactly what the commercial is designed to do — convince you that you can’t possibly live through another day without it. Take a deep breath, put down the phone and wait. If this item is worth buying, it will show up in the stores and then, you can at least judge the quality of the merchandise up close before you buy another gizmo that will sit in a drawer or end up in your next garage sale.

Car Upgrades: Cars are depreciating assets and as such, you should purchase only what you need. It’s going to go down in value the second you drive it off the lot so you want to keep your losses to a minimum. The car sales staff don’t make this easy for you to do this, however, because the good profit margins for them is selling you on upgrades. While the special alloy wheels, upgraded gadgets and other upgrades that you had not considered may seem appealing, they are costly and usually unnecessary. In fact, they can cost you even more down the road — special tires cost more to replace than standard ones when they wear out.

Items on the Shelves beside the Checkout Line: Candy bars, gum, soda, magazines — all these items and more are strategically placed within sight of those poor souls waiting to check out at the grocery store. Each has its own special way of screaming “Buy Me!” and most are unnecessary. Many are even bad for you and we know it when we purchase them, but the temptation is just too great. Don’t give in. You can grab a snack when you get home that won’t add inches to your waistline. The recipes in the magazine are probably available in the online version, too — for free. Do you really need more lip balm, or is there still a tube in your purse?

The basic rule to avoid impulse purchases is to have everything written down on a list of what you’re going to buy when entering a store. If it isn’t on the list or it is something that you hadn’t considered, chances are that it’s an unnecessary impulse buy. If you have any doubt, the best course of action is to delay the purchase until you are sure rather than paying out the cash.

In the months since the holidays it’s hoped that you’ve managed to squash the debts that accompany the most wonderful time of year. But even if you’re back in black, that doesn’t mean you have a lot of cash available. Luckily when springtime rolls around, there are new opportunities to save money, make money, and collect what’s owed to you. Here are the ways in which you can turn springtime into saving time:

Spring Cleaning/Yard Sale: With the weather warming up more and more folks will be on the look out for yard sales and such. Conduct your annual spring cleaning, only this time take the extra effort to isolate the stuff you no longer want and sell what you can. It’s a great to free up space and earn some extra money at the same time.

Relying Less on Heating and Cooling: Spring is when the temperature outside is most likely to be “just right.” Turn the heat off as soon as you can, and hold off on air conditioning for as long as possible. That way you can significantly reduce your energy bills for a few months and use the money for other matters.

Receiving Your Tax Refund: Chances are you’ll be getting a tax refund from the federal government. While it’s tempting to put that money down on a new car or some other material expense or luxury, consider using it to pay off a credit card or for the start of a savings account instead. In fact you could even go so far as to use your refund to setup a CD ladder or something else that nets long term profit.

Participating in Outdoor Activities: Get those bikes out on the roads, and put those cheap sunglasses to good use. Take advantage of the cheapness of outdoor activities as much as possible in these seemingly picture-perfect spring months. It sure beats the costs of video games and a cable TV sports package.

Don’t let this spring come and go without taking advantage of the various money saving and money making opportunities that this upcoming season presents. It’s a great way to get the most out of the warm weather and sunshine you’ve been missing out on for months.