Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
Based on a consumer survey, Black Friday weekend spending is predicted to increase by 47%, with the average consumer planning to spend around $743 on this biggest weekend in retail. As big as this event still is, many of us have shifted our focus to online shopping, preferring to catch Cyber Monday or Cyber Week deals from the comfort of home. This is especially true among the younger generation — about 60% plan to shop online and spread their purchases out rather than binge shop (which also makes it easier to plan shopping into the budget).
Cyber Monday, which started in 2005, isn’t the only cyber shopping holiday on the retail calendar, though. Green Monday, the second Monday in December, is quickly becoming a key last-chance opportunity for shoppers to snag great deals online in time for the big day.
The highest online sales day in December, Green Monday raked in $1.621 billion in sales in 2016. Coined by eBay in 2007, the term gets its “green” from the color of cash, similar to how Black Friday represents being “in the black” of profitable numbers rather than “in the red” of debt. [ continue reading… ]
Many different ideals and realities come together in our choice of a career: our personal strengths and interests, education and experience, preferences in a work environment, and, of course, the going salary and availability of jobs. But something else that might affect our career choices is our generational identity.
It’s wise to avoid blanket stereotypes and force unique individuals into neat categories, but many studies agree on some common characteristics among Gen X, Millennials, and Gen Z. Similarities touch everything from personal values, to money management, to our topic of discussion — career choices.
Let’s take a positive look at how the traits of each generation might shape what they look for in the workplace and how this can lend insight into the career you might be best suited for. [ continue reading… ]
I’ve thought long and hard about dabbling in real estate as a way to diversify my investments. With stock market valuations at a dizzying high and my assets growing to a comfortable level, owning physical structures with a separate and good chance of dependable income just feels right for me. I even went as far as seeing a few properties with an agent, but negative thoughts started making me hesitant with the purchase. What if I get that one bad tenant who complains about every little issue and calls you in the middle of the night just to fix easily fixable issues? Or worst, what if the tenant refuses to pay rent and refuses to move out? I consider myself decently intelligent but I’m a novice in tenant selection and one mistake can wipe up years of returns. Even if I’m able to find good tenants, managing them and overseeing repairs is a part time job at the very least, and more work just doesn’t appeal to me.
The other, perhaps more rational reason, is that I live in Southern California. The cash flow of real estate investments are extremely low in this neck of the woods. Annual gross rents typically range in the 4%, maybe 5% range, and that doesn’t even including property taxes, repairs, tenant turnovers and other expenses. Add those in and you’d be lucky to break even. Investors here usually subscribe to the greater fool’s theory in that they can still make a killing on their investments as long as another investor (fool) buys their property at a much higher price. In other words, you don’t need to care about cash flow here because there’s always price appreciation.
The issue is even worst with commercial properties. I looked at a strip mall once to see how much those properties sell for and the yield was expected to be 1% based on the seller’s asking price. ONE PERCENT! Who in the right mind would buy something like that? [ continue reading… ]
From Hurricane Harvey, to Hurricane Irma, to Hurricane Jose and Maria, not to mention rampant wildfires, we’ve seen plenty of natural disasters in the U.S. this summer. Although the greatest loss is the loss of life, there are also thousands of families who have lost their way of life: homes, places of employment, and literally every possession. Even if we refuse to call ourselves rich, those of us with a roof over our heads and food in our pantries are in the position to help, yet sometimes we hesitate.
David’s Note: They are now saying that 100% of Puerto Rico is going to be without power for months. Months! For the entire country! I can’t imagine living without electricity for a few months, though I imagine that’s not even the worst of the their concern since they are probably low on basic necessities like food and water.
It’s not that we don’t want to give. Rather, in a world full of charity scams and inefficient organizations, we question where to give so our gifts are being used as they’re intended and getting to those who most need them. If you’re eager to help but want more assurance your charitable donations are making an impact, here are a few (hopefully helpful) guidelines.
1. Don’t Donate Stuff – Donate Cash
People tend to start donating used clothes, canned goods, and bottled water every time there’s a natural disaster. The intention is good, but it also forces government officials and charity groups to deal with the logistics of sorting, transporting and distributing random donations. The inefficiency of this process can end up costing more in time and expense. So, unless an organization asks for donation of items that fill specific needs and gives clear guidelines for how to donate them, it’s best to donate money so these groups can better coordinate and streamline their relief efforts. [ continue reading… ]
It’s been a LONG time since I last took a look at another online savings account offering because quite frankly, rates have stayed steadily low for quite a few years. Plus, practically every option offers the usual – transfer by ACH, FDIC insurance, no fees etc.
This year is a little bit different though. With the Fed funds rate moving up, a few of the offerings have been upping their yield. It’s still not awesome, but the trend seems to be our friend. The other reason why I want to talk about CIT Bank is because I’ve been getting a few email questions about CIT Bank lately on whether they are related to Citibank. So let me clear this up. CIT Bank has nothing to do with Citibank. CIT Bank is owned by CIT Group and Citibank is owned by Citigroup (I know, this is clear as mud so let me explain further). Both parent companies trade on the New York Stock Exchange, but CIT Bank has a ticket symbol of CIT and Citigroup has a ticket symbol of C. They are two separate institutions. [ continue reading… ]
When we hear about the increasing weight of student loan debt, we tend to assume it applies mostly to college-age young adults – and it does. But, there’s another group whose amount of student loan debt is growing at an alarming rate: seniors.
A recent FICO report shows that the percentage of adults over the age of 65 with student loans increased 300% in the last 10 years. Individually, Americans over 65 owe an average of $28,268, with those 55 to 64 owing an even higher average of $33,915. One explanation for this jump is the trend of older adults going back to college to prepare for new career paths, and the other is the growing number of parents and grandparents who are co-signing for their children’s loans. [ continue reading… ]
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