Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
Last week I set my son up with his own checking account and debit card. He is 13 years old and he’s ready to start learning how to track his spending and manage money in a world of plastic.
If you are thinking of doing the same thing, know that your child will need to have a parent or guardian share the account with them. You won’t be able to have your children get their own bank account in most cases. My son’s account is actually a no-frills checking account that has him as the only debit card user. I still own the account title, but he has a debit card as an authorized user.
Is Your Child Ready for a Debit Card?
One of the reasons we are switching things up is because most of us use plastic, or even our phones, to make payments today. I want my son to learn how to manage money in a cashless situation. This debit card set up makes it easy for me to transfer his allowance money into his account, and for him to access the sum. It also makes it easy for him to transfer the portion of his money allotted for savings to his savings account. He is also more interested in helping different causes now, and he will be able to quickly send money to charities that he supports with part of his allowance. [ continue reading… ]
Think running into the supermarket to get a loaf of bread is easy? You would be right, but not before they tempt you to spend money on a bunch of other junk first. Grocery stores are laden with traps that try to convince you to buy more than you set out to get. Here are some ways you can avoid them and save some money and shelf space. [ continue reading… ]
The birth of the smartphone didn’t fundamentally change the traditional way of grocery shopping yet, but the device definitely altered the way some people browse and find deals. Many grocers adapted their rewards program to accommodate the new technology. and third party apps are coming onto the scene to help the consumer save a couple of extra nickels. After shopping with a number of shopping apps over the last couple of years, I’ve nailed down my top three that really help give the extra save at the cash register.
Shopkick:The app allows you to “check in” when entering certain stores. Currently supporting the likes of JC Penney, Crate & Barrel, Macy’s and Target, all you have to do is simply open the app while entering the store and points are earned. Averaging 30-100 points per store check-in, you will get a $5 gift card to the store of your choosing when you get up to 500 points. It’s become second nature to open the app while grabbing my shopping cart, and after a few weeks of shopping, I’ll have $5 to shave off my grocery bill at Target. [ continue reading… ]
While I’m a confirmed renter (I love renting), I know that renting isn’t everyone’s preference. Most people still rather buy. After all, we’ve identified home ownership as a major milestone in life and for finances. The only problem is that most people can’t afford one, according to a recent Bankrate survey.
Do You Have Enough for a Down Payment?
Many lenders decided to back away from zero-down mortgages after the housing market crash and financial crisis. Down payment requirements made a comeback for conventional loans, and the advice to put 20% down, long ignored by many, came back into vogue. However, even though the rule of thumb is still 20% down, it’s still possible to get a home for 5% or 10% down (or less, if you go with the FHA loan or another loan program).
Even though there are some lenders getting back into zero-down mortgages, the perception is still that a bigger down payment is necessary. As a result, the Bankrate data indicate that 29% of people are sure they can’t afford the down payment. And it’s not just millennials who are leery of their ability to make an adequate down payment. Bankrate says more than 31% of the middle-aged Americans who don’t own homes say the main reason they can’t get a home is the down payment. [ continue reading… ]
Concierge medicine is a fringe healthcare concept that’s been around since the 90s, but lately it’s been gaining momentum. The American Academy of Private Physicians reports there are still under 5,000 practices in the United States, but surveys show a growing number of physicians — especially the younger generation — are becoming interested in this type of practice model.
So how does it work? Basically, it’s a private form of care (similar to direct care) in which physicians charge their patients an out-of-pocket retainer fee in exchange for full, immediate access to their services. Physicians who operate under this structure maintain a much smaller pool of clients, ranging from 500 to 1,000 versus several thousand in a traditional practice.
The unpopularity of this type of care is based on the perception that it only benefits physicians and wealthy patrons, but the rising cost of health care is starting to level the difference between concierge plans and Obamacare or private insurance, making it appealing to a larger group of consumers. For instance, physicians in one of the larger concierge networks charge an annual retainer fee ranging from $1650 to $1800 a year; in contrast, an average Obamacare plan costs thousands more. For some, the upfront cost difference is enough to give it a second glance.
But is it worth it for you? Here’s a rundown of both the good and bad so you can decide for yourself. [ continue reading… ]
We all love the steal. If we find something 50% or better, we probably do a little jig and dance in our mind, get up from our laptop, and grab a celebratory cup of coffee. If I were a betting man, I would wager that our wallets light up a little when we see the digital red “sale” on a shopping website. However, the smart shopper won’t stop there. Many times, there are valid promo codes we can find hidden in the confines of the internet that will add extra percentage off the steal we’re trying to acquire. Here’s what I think we could do to become smarter online sale hunters, and it starts with the “promo code”.
Never Settle for the Obvious
Recently, my wife called me about a “huge” sale Pottery Barn was putting on at its online shop. All we had to do was enter “SPRING” in the promo code box and we’d be good to go to get the office lamp I’ve been seeking for $49 down to $39.20. Settling for the obvious, I’d probably feel like a winner with $9.80 off. But, without settling, I took a few minutes and googled “Pottery Barn Promo Codes” and without much work found that I could get an additional 15% off when I opt in Potterybarn’s promotional emails. Just because I didn’t settle for the obvious code, I was able to get that same lamp for $31.85 instead of $39.20, or the original $49.
The lesson is simple. Take a few minutes and google “your site plus promo code” in a web search next time you need to buy something online. NOTE: Some sites will only let you use one code per transaction, but some will let you enter multiple. Always give everything you find a shot, and never assume the obvious code is the best discount. [ continue reading… ]
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Last week I set my son up with his own checking account and debit card. He is 13 years old and he’s ready to start learning how to track his spending and manage money in a world of plastic.
