Tip Jar Finance

Saving Money By Focusing On Unit Pricing

noreply@blogger.com (Migueldiaz24) — Tue, 08 May 2012 19:44:00 +0000

I love beer! I love it even better when I'm getting a great value on beer. When I'm in the beer isle at my local grocery store, I have the hardest time picking the beer I want for the best price possible because I never want to feel like I'm paying too much. Sometimes I'm lured in by the occasional sale but it's ultimately how much beer I can get versus the amount I pay that ultimately determines the best value. You might see a 12 pack of your favorite beer for $13.99 but then you see a 6 pack of your second favorite beer for $5.99. So which one is the better deal? Typically, the more you buy the less expensive it is.

Some stores already do this for you by displaying the unit price next to the price tag but for the sake of this example, lets say there isn't one. I know a lot of you might know how to figure this out already but for those of you that don't, here is a simple way to figure out which one is the best deal between the two examples above.

The Problem

What is the better deal between these two?
Deal #1: 12-PK/12 oz. - BEER for $13.99
Deal #2: 6-PK/12.oz. - BEER for $5.99

The Math

First, we must figure out how many total ounces they are selling for each deal. The first deal is 12 beer at 12 ounces each so in order to figure out the total ounces we must multiply BEER x OUNCES per beer. The Math should look like so: 12(beers)x12(ounces)=144(ounces of beer). So now that we have the total ounces, we need to take that amount and divide it by the cost to figure out how much we are paying per unit. This math should look like this: $13.99/144(ounces)=0.0972 (price per unit).

If you want to know how much you're paying per beer bottle, you can divide $13.99 by 12 beers which equals $1.16/each beer.

Not bad! Now lets look at deal #2 with the same math.

You take 6(beers)x12(ounces)=72(ounces of beer)
Then you take $5.99/72(ounces of beer)=0.083 (per price unit)
So if you calculate $5.99/6 beers, you re paying $0.99/each beer.

YAY!
So you figured it out the best deal! Congrats! Now grab two of those 6 packs of your second favorite beer and enjoy! You wallet will thank you.

How to Save Money On Christmas Presents

noreply@blogger.com (Migueldiaz24) — Sun, 25 Dec 2011 01:35:00 +0000

Tis' the season to spend money but when it comes to shelling out money to for presents, food, decorations, wrapping paper, tape, we tend to feel a little less jolly about the whole thing. There are ways to savings during Christmas time though and I would like to give you some tips as a present today so here I go.

Making a list, checking it twice

Certain people have not been nice during the year but let's leave the corporate heads of big bank companies out of this. I'm talking about the people you're thinking about getting presents. I usually spend the Christmas season with my immediate family - Mom, Step dad, Grandma, Grandpa, Brothers, & Sisters so anyone outside my circle wont necessarily receive a present from me but I will cut my list short to the people I celebrate it with. So with that being said, I have about 11 people to shop for. My point here is that it is okay to shop for people outside your circle like Co-workers and distant cousins, but try sticking to the people who have always been there for you.

Shop Ahead, Stay Ahead

Time frames are extremely important when it comes to shopping for presents for the ones you love. Retail and grocery stores recognize the sense of urgency during the holiday season and take advantage by rising their prices because they know very well that you will be more willing to shell out a few pennies here and a few extra dollars there. So, when it comes to shopping, try getting through this task during the year but months before the season whenever possible. The best time to shop for holiday decorations and wrapping paper is on the first week after Christmas as these items are discounted in price to make room for their non-season items in the store.

Food

We all get together and eat Turkey, Ham, or whatever food your family wishes during Christmas time. We could stay creative by making a pot luck with the family. It makes for great conversations, recipe swapping, time-saving and for the sake of this topic, saving money!

Wrapping

So I went to my local retail store with the big red bulls eye as a logo and I found that their gift bags cost anywhere between $0.49 - $4.99 depending on what size gift bag you get. I never really factored in the cost of wrapping into the equation of holiday shopping but I was amazed that it would cost me $5 to wrap my little brothers gift. Since I was there to pick up some other items, I skipped the gift bags and went to my local dollar store and was amazed again to find a range of gift bags - from small to large - for $1 each!! They had very nice looking ones for Christmas and I paid $5 to conceal 5 whole gifts instead of one gift for the same price.

You can also go a step further by using those white boxes they give away at retail stores or ask if they have any boxes they are throwing away. If you are using gift bags, ask for these to be returned back to you so you can use them for next year or other occasions. The worst investment I think I could make is buying wrapping paper - it takes so much time, tape and you can't really re-use the torn paper for next year.

Ask For Presents That Save You Money

I have a prepaid cellphone and I thought that I would ask everyone in my family to get me a prepaid card to load onto my account. If they do, I would save $50 for the next 2 months! Someone in my family asked for hair clippers and I thought I would get them that gift since it was affordable to buy but the savings would be greater throughout the years.

So there you go, a couple of tips on how to save a little dough during Christmas! I wish you and your family a happy holiday!

What's In Your Wallet?

noreply@blogger.com (Migueldiaz24) — Tue, 19 Apr 2011 05:42:00 +0000

I just cleaned out my wallet. Let me tell you, it's much lighter now. I still think my wallet has less stuff in it than my friends and family and I usually know what I have in my wallet exactly. Today, I decided to get rid of some of that fat, if you will, by taking out unnecessary items. These items were once necessary to have in my wallet at times but I'll go through some of the things I got rid of and why.

What I took out of my wallet

(2) Credit Cards - I took out two of my credit cards because I found out my spending habits started to go wild; or so I think they did. I guess it's just a different feeling to pay a lump sum at the end of the month because you put it on credit rather than paying throughout the month with cash. I haven't done the math yet, but I'm almost one-hundred percent positive I've spent more using my credit cards for a month than I just used cash. One things for sure, I earned a lot of rewards points but these boys had to go.

My Social Security Card - I bet most of you are asking yourself: "Why would you carry your social security Card in your wallet"? It's a dangerous thing to do, I know. If I happen to lose my social security card, it can be used for fraudulent purposes. It can be used to steal my identity and I'll have to live in fear for the rest of my life. Okay, maybe not the rest of my life but you get the picture. So I think my social security card is better left at home than in my back pocket.

Receipts - Yes, receipts. Tons! I had so much paper where my money used to be. It's not a good sign when your money turns into receipt paper. Some of these receipts I kept were in case I had to return or exchange an item I had purchased but most of them were for things that couldn't be. These receipts also taught me what my spending was like for a good month or so and I realized I had spent a lot on coffee.

Used Gift Cards/Prepaid - I still had a prepaid card I received as a gift for a local coffee shop that I completely used up and it was just taking up space in my wallet. I kept the card in hopes of refilling it because the card gave my discounts if I used it but I figured I would spend more on coffee if I had currency just for that purpose. My wallet started to feel lighter already.

It doesn't seem like much but I noticed that most of these items, if not, all items I took out were to prevent a financial disaster. If I were to lose my social security card, there's a good chance my credit score could be impacted. If I carried a balance on that coffee shop gift card, I might have more receipts to replace my money. If I carry both credit cards with me, I might be carrying around large balances as well. I now only carry my drivers license, library card, cash and an ATM only card in case I need more cash. I might even have to downgrade my wallet into a simple card holder instead.

So what are some of the things you carry around in your wallet? What's one item that got you into trouble just because you had it at your convenience?

5 Phrases You Shouldn't Say About Money

noreply@blogger.com (Migueldiaz24) — Sat, 29 Jan 2011 22:54:00 +0000

1. "Money Comes And Goes" - While it does make sense that the money you get is eventually spent, this phrase can have a negative impact on the way you think about money as a whole. I usually hear people use this phrase to justify a significant loss in the stock market or when they found out that paid too much for a product or service.

2. "I Want To Be Rich" - Yeah, who wouldn't want to be rich right? People tend to look for the fast route to getting rich but like they say: "If it were that easy, everyone would be rich". You should always try to improve your financial situation but start with things you can control such as paying off your credit card bills instead of focusing on things you can't like winning the lottery.

3. "I Don't Need To Invest Right Now" - You will find that the younger you are, the less likely you are to invest in your future financially. There are plenty of ways to start investing no matter what age. You should start off by educating yourself and seeking professional advice on investing.

4. "I'm Living Paycheck To Paycheck" - Unless, you truly have no other form of income and everything you're paying is absolutely needed, there is no reason why you should be living paycheck to paycheck. Can you pick up a second job? A hobby that pays? Consolidate your debt into a lower payment? Pick up extra hours? Cut back on your HD Sports Channels? Stop telling yourself this, it's negativity that will eventually be accepted by you.

5. "You Only Live Once" - I hear this phrase so much for so many other categories it's amazing. These categories seem to have some correlation with one another - they're bad for you! Have you ever declined a cigarette when offered and they told you this phase? Have you ever been asked to go out on a weekday night before a big final? Okay, you get what I'm saying. So with that said, spending money frivolously isn't something to throw this phrase at. Spend less than you earn and keep a budget.

6 Things You Can Still Get For Free At A Bank

noreply@blogger.com (Migueldiaz24) — Sun, 16 Jan 2011 01:02:00 +0000

It was great while it lasted but simple free checking accounts are becoming extinct since new rules and regulations took place just in the last year in order to protect consumers. This change in the financial industry also opened up a new bag of worms - fees! Banks still offer free checking only if you meet certain, albeit rigorous criteria. Fortunately, there are still some things you can get for free from a bank if you can't get that free checking.

1. Coin Wrappers - These come in handy when you have accumulated lots and lots of change in your jar at home and banks are really generous when it comes to handing these out. They usually give you as much as you need but just say you have a lot of coins and they will give you plenty.

2. Faxes - I love it when my own bank can fax something for me at no cost. I once went to a grocery store where they offered faxing services at a ridiculous cost per page. I ended up paying $5 bucks for a couple or papers. This service shouldn't be abused since they do have other business to take care of.

3. Copies - Just like faxes, your bank will copy any documents you might need. For example, you might want a copy of a check you deposited for your records.

4. Coffee/Snacks - It's very rare for an office not to have a coffee machine these days but they sometimes offer a complimentary coffee to their customers and often people who are with they customers. If you ever stop by a bank to make a deposit for yourself or for someone else, ask for a complimentary coffee. I know this one bank in my town that also offers a small tray of popcorn!

5. Mail Out - Every bank should have an outgoing mail bag that gets picked up from a courier service and the mail gets sent out to the address without a stamp. They provide their own stamps for these items so the next time you need to send anything out, ask your bank if they can. Certain banks have FedEx or UPS pick up items on a daily basis so your bank can also pose as a drop off/pick up area.

6. Check Registers - This comes free still if you need it but we are rapidly moving towards a digital world and there's no telling how long check or check registers will be around.

Where You Can Use Your Job Status To Get Discounts

noreply@blogger.com (Migueldiaz24) — Tue, 28 Sep 2010 01:26:00 +0000

On top of making your paycheck, you can use your job status to gain some healthy returns on your money from entertainment to food & drink. You just have to do the leg work and see if your job will accommodate any such discounts. They are out there, it's you chance to get them.

1. Restaurants - If you are ever in your local Chili's, tell them you work in town and would like to get the local discount that is available. I do this every time I go there but be aware that you might have to show proof like an employee card or business card to receive the discount. Also, be understanding that this will vary based on location so it makes sense to ask before hand.

2. The Gym - Local gyms will love to have your business as membership specialist have a quota to meet. Talk to someone who at your work who already has a gym membership and ask what kind of discounts they're getting. Better yet, ask your boss or manager if there are any special discounts you get at the gym just for working there. Most likely there will be so I suggest you check it out if your interested in pumping some iron while you beef up your wallet.

3. Financial Products & Services - Almost all banks and credit unions will offer low cost or free checking to those who work for a company that is affiliated with that institution. For example, Citibank has something "bank at work" where they offer a free account if you work at a company that Citibank manages accounts for. Also, if you're having trouble making your money readily available after you deposit your check into a bank, it's best to choose the bank your company uses so they can verify funds right away and your money will be ready as soon as your deposit your check.

4. Entertainment - At my job, there is a website that is provided to all the employees where you can get discounts on all sorts of stuff. For example, I can get movie tickets for the nearest AMC Theater for a discount if I buy in bulk of 8 tickets that will last until they are used. The cost comes out to $6.50 each ticket. With the current prices at the movie theaters, I would say that is one hell of a deal.

5. Department Stores - I once worked at an outlet mall and I was able to get different kinds of discounts for shopping at other stores just because I worked at the mall. Some of you might already recognized this but sometimes people don't even think about doing it. Make your move for your next Christmas presents!

6. Cell Phone Plan - Sprint, At&T and Verizon are just some of the names that offer employee discounts to qualified companies. Check and see if your company is one of them by either calling the wireless company themselves or talking to your manager.

Please let me know what you guys think. What are some discounts that your job has to offer?

Ways To Be Financially Responsible

noreply@blogger.com (Migueldiaz24) — Thu, 23 Sep 2010 01:47:00 +0000

I have long been a believer that money is a tool and that it should be used properly when needed. Money shouldn't exist just because you want something you truly do not need. Money is a tool we should use to make a difference in our lives for the better and possibly better others who need it the most. We have responsibilities in our lives and sometimes money is intertwined with those responsibilities. I have compiled a list of ways to be financially responsible.

Donate To Charity

You can donate items or currency to a reputable charity for those who are less fortunate than you are. You can also donate your blood, plasma and even hair to individuals who need it most.

Make Sure Funds Are Available

Most people will accept a personal check from a friend or family member and expect for that check to clear which is understandable. What happens when the check bounces when you try to deposit it in your bank account? We'll not only will they get a fee from their bank but you might incur such fees as well. This doesn't make sense on the surface but when you dig deeper, you are the one responsible for what goes in and out of your account. So if the bank is made from ABC bank and yours is XYZ, go directly to ABC bank and ask to verify funds then go to your bank and deposit it.

Balancing Your Checkbook

We all heard this one and I don't do it myself because I use cash or debit now. I do, however, keep track of my bank account online and an excel sheet. Your method might be different but it should all be for the same purpose.

Keeping A Budget

Another dirty word in the world of personal finance. Depending on who you are, this can be extremely fun to do and could be very informative in your life. It's not for everyone but it sure is responsible of you to take hold of your finances and cutting costs where you see fit so you can have money for other endeavors.

Tipping

Tipping your server, waiter, bus-boy or delivery man is not only the generous thing to do but it's responsible of you to do. You might get the occasional bad service but do you need to cut out the tip completely or are you just being irresponsibly cheap?

Volunteering

So you have donated to the less fortunate, you keep a healthy budget and your tip really well. Have you ever thought about spending some of your valuable time in teaching kids how to read or write? You just may make a difference in this world, even if it's just for one day. I personally think this is one of the most responsible things you can do in anyone's life.

Return To Lost & Found

So you see a wallet full of money sticking out under a table. By the looks of it, someone must have dropped it. What do you do? If you said "take the money" you are wrong and irresponsibly but for those responsible, you would take it to the lost and found or it's rightful owner. I once received $20 for returning a man's wallet.

Do Not Walk Away From Your Home

So many homes are left unpaid and the numbers are increasingly scary. I have read about the calculations people make with their mortgages and why they selfishly decide to voluntarily stop paying a home they gave their word on. How are these people perceived by their more responsible counterparts or their children? What is this doing to the economy? What will this do to your credit?

Life Insurance

Need I say more? From my experience, term life insurance seems the way to go but I would highly recommend sitting with an agent to find out what is best for you in your situation. Life insurance polices can take away the headache that relatives face when they have to pay for a loved ones funeral. The last thing I would want is my family to be slapped with a bill while they are in mourning.

Report Fraud, Scams Or Theft

If you ever been scammed by a foundation, a company or a friend who is surely now a foe, then I hope you have reported this to the authorities or the better business bureau (BBB) to help prevent those unaware from falling into the same scam you encountered. Just think, if you were scammed by a foundation that could have been prevented in the first place, you would have wanted it to be reported before it got to you.

I would love to hear what other financially responsible ways you guys might be doing. Please comment below to share.

Where You Can Still Get Free Checking

noreply@blogger.com (Migueldiaz24) — Wed, 15 Sep 2010 19:47:00 +0000

New rules in the market that lower fees and take away profits from banks and credit unions are great for consumers on the surface but these same institutions are getting crafty and even doing away with most of their free products and services they once offered. It doesn't help that interest rates are horrifyingly low either so where does one go nowadays for a free checking account and possibly a better return on your hard earned money?

The reason online banks can offer so much more than traditional brick and mortar banks like Wells Fargo and Bank Of America is because they have less overhead expenses. Online banks offer free checking and saving accounts, usually without a minimum opening deposit. They offer the bells and whistles of a bank like checking, savings, certificate of deposits, online banking, bill pay, debit card and checks. Online banks are generous with interest bearing account especially if you compare it to banks like Chase.

Online banks can't do some things that brick and mortar branches can like: one on one customer service, easy exchanges with change and cash deposits, and your own personal banker, consultants and other professionals. Businesses are still in need of these brick and mortar banks as well for guidance and possibly referrals.

Credit unions are known for working for the people. They don't have stockholders to impress with artificially inflated balance sheets and they usually offer better interest rates on loans and depository accounts. Some credit unions still lack the accessibility that large cap banks offer. For instance, Citibank has an ATM in every single 7-Eleven store in the United States! Wells Fargo seems to around every corner and Bank Of America is international. Credit Unions, however, are still enticing with their free checking accounts.

Unfortantley, it's getting harder to find absolutely free checking accounts nowadays but you can still grab them at your local bank albeit with certain strict criteria met. If you have a mortgage with a bank, credit union or online, you most likely qualify for an absolutely free account depending of the balance of your home of course. Take advantage of what you already have and leverage that. If you can't meet minimum balances or afford to make 10 debit card transactions a statement period like some banks are asking for, then search elsewhere. Online will be my first recommendation.

I would love to hear what you guys think about the changes in the banking industry and where you are finding free accounts.

8 Ways To Tell If You're Cheap

noreply@blogger.com (Migueldiaz24) — Tue, 14 Sep 2010 15:27:00 +0000

You Avoid Necessary Costs – If it's time to get a new pair of pants or shoes because your old ones are ripped, torn, broken or stained and it's purpose is no longer useful, get some new ones. I'm sure the thrift store has a lot that are still in good shape.
You Never Go Out – If you keep denying your friends and family when they ask you to watch a movie with them or go out to lunch, you can suggest a more economical alternative. Not having money is one thing but don't completely shut out your loved ones just because you don't want to spend money.
You Cheat The System – So you paid off your car and you're thinking about dropping insurance completely? This is a huge risk but you have convinced yourself otherwise. It might seem logical that you will save money for a while but something horrible can go wrong which would more than offset the cost of savings. This is irresponsible, illegal, dangerous and it's simply not worth it.
Your Time Isn't Worth It – If Tiger Woods himself mowed his lawn every Saturday morning instead of paying little Jimmy next door to do it for him an exchange for $10, then Tiger Woods is doing the what only cheapskates would do which is: Give up money for time consumption. Let me give you an example. Say you're install heating and air conditioners for a living but it was your turn to make dinner until you got an unexpected project on the weekend. If you make dinner, you lose out on $800, if you get a chef for a night, it's $90 and keep $710 and feed your family plus money for other expenses. This is, of course, an example.
You Choose Quantity Over Quality – Those shoes you got at Wal-Mart or Payless are in style and they look great with your new outfit but they don't last very long because they are made with low quality components and put together poorly. You don't care though because they were only $10. Maybe you aren't cheap but you never really did the math so let me break it down for you. Say you bought a new pair of running shoes for $10 that started to hurt your feet after 3 months but then you bought $35 shoes that lasted a whole year and still keep your feet comfortable. That means in one year you would buy 4 new $10 shoes to make up for 1 new pair of good quality shoes and you spend more than with the higher quality shoes.
You Lie – Have you ever went out to lunch or dinner with a friend and their wallet mysteriously went missing as soon as the check arrives? We'll if you are that friend who stiffed another just to escape a couple of bucks then shame on you!
You Never Tip Or A Poor – Servers, waiters, busboys, bar tenders, valet parking, delivery men and others all accept tips for their services and they depend on you to provide this crucial part of their income in exchange for their services. Now if you have been miraculously unfortunate to never get good service, that's one thing but to never tip or under tip is something that of a cheapskate.
You Take Extreme Advantage – When you're at the movies, do you ever grab a large soda out of the garbage can just to use the one-time refill instead of buying your own? Well congratulations! Your cheap! Have you ever been to a fast food restaurant and took excess napkins, plastic utensils and ketchup packets for your own home? Congratulation again!

How To Get A Fee Waiver On Your Checking Account

noreply@blogger.com (Migueldiaz24) — Sat, 11 Sep 2010 02:35:00 +0000

I used to work at a bank and I have seen just about every type of irresponsibility there is with financial decisions from customers. I have seen countless overdrawn accounts, missed credit and loan payments, check fraud, etc. I have also witnessed a lot of changes along the way like the recent credit card act and opting out of overdraft protection. Banks have retaliated against these profit-eating changes and most have rolled out fee-based checking and savings accounts to make up for the lost overdraft charges they have been doing for years to customers.

They are still some free accounts paying interest online but a lot of customers like the convenience of having a brick and mortar bank to go into. As an ex-bank employee here is a way to get an absolutely free checking account and possibly forever.

Leverage

Banks have to meet a sales quota on a daily basis and they are willing to earn your business. If you already have an account with a bank and are constantly getting charged for one reason or the other, go into your local bank where you opened the account and talk to your banker about placing a permanent waiver on the account or else you will close your account. It helps to have a good standing relationship with your bank or else they will be pleased to close your account.

You Can Get More Than Just A Checking

Banks have different types of accounts. Some of them call them "Checking Packages" where it consists of a checking account, a savings, debit card, credit card and online banking. Some packages will differ from bank to bank but the concept is the same. Once you find that you need a checking package that offers wire transfers and a safe deposit box but you can't meet the minimum balance to make it free, tell the banker that the only way you will open up an account if there is a permanent fee waiver.

5 Things You Should Have To Save Money

noreply@blogger.com (Migueldiaz24) — Thu, 09 Sep 2010 05:19:00 +0000

1. A Budget - I know it's an intimdating word but it's true. You need to have a budget to keep your expenses in line. You need to know where your money is going in order to cut back. Without a budget, you are blind and throwing money at groceries, entertainment, utilities etc. It's time to keep track!

2. The Internet - Whether you have a laptop or an Iphone, you can get some great information on the best deals for gas, clothes, and a new world full of printable coupons or coupon codes when shopping online. You never know what deal is out there when your at Target, search your smart phone for additional savings.

3. A Notepad - Keeping track of prices on your usual products like shampoo and dishwasher soap will give you an idea of what is a good deal and where to possibly get a better deal for these products. I like waiting for coke to come out with their buy 3 12-pk of coke products and get the other 3 12-pk for free deal. That's a steal if you ask me. You might also want a notebook just to remember some things like "Remember: Wal-mart has the best price for toothpaste".

4. Cash - I went to the gas station and when I tried to use my debit card there was a $0.45 transaction fee. Luckily I was carrying cash on me so I just went inside and paid instead. The cost was very small but it's the you-shouldn't-have-to kind of thing. Plus, these small expenses can really add up. Another reason you want to carry cash is to save yourself from resorting to ATM Fee's. ATM's are very convenient but when they aren't part of your bank, that's when both the atm and your bank slap you with a convenience fee.

5. A Water Bottle - This can save you so much money on uneccessary drinks when your out. Say goodbye to expensive waters, sodas, and coffee. When you are thirsty just drink out of your water bottle and fill it up at the office, local Safeway or neighborhood park.

5 Reasons Why You Shouldn't Pay With Cash

noreply@blogger.com (Migueldiaz24) — Wed, 01 Sep 2010 04:09:00 +0000

There has been some dispute about whether using cash saves more money than using say a debit card, credit card or a check. The reasoning behind this is it's psychological factor. It goes something like this: When you use cash, you tend to hurt more psychologically because it's physical paper that you hand over rather than a debit card or a credit card where it doesn't feel as real. In turn, you spend more with debit or credit.

Although I haven't experimented with this myself, I have a couple of reasons why this wouldn't save you money. Prove me wrong if you can, but take a look at these first.

1. You can lose money - You can literally lose, as in misplace, your money when you carry it around in your wallet, purse or pocket. I had some quarters in my pocket and fell asleep on my friends couch one night and it became sofa change for good. I list a couple of quarters and dimes. That adds up over the years!

2. You aren't getting rewards - If you aren't using your debit card, you might be missing out on some great rewards points. Citibank, for example, has a free rewards program called Thank You Rewards. They pay you in points just for doing regular banking activity like: direct deposit or purchases. You can accumulate points fairly quickly and the more products and services you use, the more points you're going to gain.

3. You are losing on interest - With all that change you get back from store while using cash, you don't have enough to roll it up and deposit in your bank account so you put it in a piggy bank where it starts earning 0% interest plus inflation. You could be putting this money into an interest bearing account. With a debit card or check, you only take out just enough each time. Put your money in an interest bearing account instead.

4. You Are Prone To Loan Away Or Give Away - Do you know how many times homeless people asked me for money when I only had a debit card? My excuse was, I don't carry cash. It was true at the time but now when asked if I have any spare change, I give it away! Also, a friend asked if I had $10 to loan him and I didn't get it back until 2 months later.

5. You Have The Urge To Spend - I shop at yard sales all the time with my mother because it's sort of a ritual we do. I noticed I buy more things now that I have the cash.

5 Things You Shouldn't Pay More Than $1 For

noreply@blogger.com (Migueldiaz24) — Tue, 31 Aug 2010 04:04:00 +0000

With places like the dollar store there isn't a reason why you should pay more than 5 dollars for these things. Take a look and your feedback is also appreciated!

1. Movie Rentals - Redbox is just around the corner where I live, I don't know about you. Sometimes I even have a free rental code to input in the kiosk and I hold the movie for an extra day and I still only pay $1. Your library can be a great place to rent them for free as well, you might want to check the late fee's though.

2. Deodorant Or Most Hygiene Products - Like I said, the dollar store has deodorant, shampoo, conditioner, baby lotion, baby powder, soaps etc. for only...(drum roll)....yep, you guessed it!

3. Coffee - I'm talking about regular drip coffee not the fancy Slim Venti Expresso with two pumps of sugar-free vanilla served extra hot with extra foam. No, I'm talking about black coffee. Grab some instant coffee from your local grocery store and you'll be happy to know that you hardly paid anything from-your-home coffee. You also get to prepare it yourself!

4. Gift Wrapping Paper & Bags - Do you know what happens to the wrapping paper when someone rips it apart to get to that precious gift? It gets thrown away! You paid for it but only to watch it get literally torn apart and thrown away. The least you can do is pay $1 or you can stick it in one of those gift bags they have at the dollar store. You could even save the bags for other occasions if the presents are being unwrapped in your own home.

5. Mp3 Music - If you are paying more than $1.00 for a song, you're probably wasting your money. Music is a trend and it changes all the time so you might not even like a song 1 month down the road of mainstream radio. Do yourself a favor and borrow from a friend, use YouTube, use Pandora, or rent it from a library but no more than $1.00 you hear?

Thank you for reading, please submit your input on this post. Thanks!

Save More Money At The Movies

noreply@blogger.com (Migueldiaz24) — Thu, 29 Apr 2010 20:30:00 +0000

1. Matinee prices – Where I live, you can watch a movie for half the price if you go before noon and I’m sure your local theater does this as well. Most people go to the movies at night only to pay around $10 or more. The early bird gets the worm in this tip!

2. Show your Student I.D. – I get a great discount just because I’m a student so I show my student I.D. everytime to save some money. I guess it does pay to learn!

3. Check their Webpage – You might be able to find some coupons for the movies. I found a coupon for my theater for a free popcorn when you purchase a drink. Yummy savings!

4. Sign up – There are some programs you can sign up for like AAA that can save some extra cash at the movies.

5. Choose Movies Carefully – Don’t you just hate it when you pay good money to see a not-so-good-movie? I do. So make sure you check some ratings on your movie choices first or hear some reviews from someone you know or trust. Do not trust trailers either. I like to visit RottenTomatoes.com for some juicy reviews.

6. Eat Before You Get There – Not only do you want to save money but you don’t want to chow down on a polish hot dog or Chili Cheese Nachos for dinner do you? Food at the theaters is asking for trouble with their marked up prices and dreadful calories.

7. Ask For A Discount – if you arrive to a movie late, ask for a discount to negate what you have missed out on and for the seats you don’t want. You might have to speak to a supervisor or manager for this. Hey, you might as well ask since you and your date are there.

8. Wait For The Release – If you are a little skeptical about the movie you want to see, just wait for the release and rent it for free at a Redbox with a promo code. Atleast you did’nt pay $10 a ticket to watch a movie you didn’t like.

9. Ask For A Gift Certificate – If you are a movie buff and are no stranger to the next hit at the theaters, then start asking for gift certificates from friends and family for your birthday, promotion, special occasions etc. These are free movies! Did anyone say popcorn?

10. Grab Deals - Costco was selling 5 movie tickets for $37 bucks. Not a great deal but a good one for tickets that will last all year long.

My decision to live without a cellphone

noreply@blogger.com (Migueldiaz24) — Mon, 01 Mar 2010 16:12:00 +0000

After I was forced to take a huge pay cut in early April of 2009, I have been tracking where every penny goes. I canceled my membership to the gym which saved me time and money! I decided to stick with a one-style haircut and cut my hair myself instead of paying someone else to do it. I don't carry any debt with me but there are still things existing in my life that I can't help but pay for. For example, my cellphone has been one of those things.

There is no surprise that a cellular phone is on my "things I really need" list because it's so convenient. I don't know of anyone who has a cellphone right now that can seriously picture their lives without them. We need them to communicate and to get a hold of one another whenever and wherever possible. We text people; letting them know we are running late. We capture memories with our built-in camera's and we even check our email through our web browsers.

Yes, a cellular phone does have it's benefits but surely without it's drawbacks. Americans who drive while talking or texting on the road are more likely to be involved in a car accident due to disruption from their cellular phone. Research has shown that cellphone's have been proven to increase the risk of brain tumors by sending radio frequency waves through our ears. Now these examples of drawbacks might maintain probability if a degree of carelessness is involved and ,according to researches, if a cellphone is used extensively.

Ofcourse, one might also input the drawback of qualitative communication. More than ever, the world is now communicating through text messages and this convenient way of getting words through our receivers is an example of a significant oversight. We hardly recognize this way of communication is not an effective way to converse in terms of quality. One friend might take a message a wrong way even a wrong tone just by the way you type a sentence resulting into a problem or conflict.

With good old fashion communication - calling your recipient and talking with them- is the most effective way of communication besides face-to-face. So, with this said I have come to my latest conclusion: I will live without a cellphone. My decision is not solely based on these examples written above. My decision to live without a cellphone involves factors such as my personal needs and my financial goals. For starters, I don't use my cellphone as much as I used to and canceling my cellphone will put an extra $30 in my pocket each month. That's $360 a year! With my current job I work part-time with no health care options available, and for half as much I as I was earning just one year ago.

I believe in doing this will not only save me a significant portion of my income but hopefully improve my relationships with people will improve. After reading "How to live well without a Car" by Chris Balish a couple years ago, I learned it can be sociably stimulant at times to give up the things we think we can't live without. So you might be thinking how I am going to live without a cellphone. Well, here is what I have so far.

Use my home phone - This will now be my primary contact number. I will be updating every account I can think I have to list my new number.

I will use Google Voice - Luckily, I have been using Google Voice for quite sometime now and it's great for voice mails and alerting me through email when I have messages.

Use Email & Instant Messaging - Wait! Mike, weren't you just rambling on about how text messaging is a poor way to communicate? Yes I did. However, instant messaging and email are still very much a form of communication that will be convenient enough for my peers to get a hold of me if they forget my number, send me documents or pictures, or other necessities. This should not be abused and hope it doesn't become a habit to my peers.

Frequent Calls - Just so I don't seemed like I vanished into thin air, I will make regular phone calls to my acquaintances to keep in touch and let them know the only way to contact me now is through my home phone number.

I have not decided if this will be a permanent alternative but it's worth giving it a shot in my book. I'll update you guys from post to post to note any pitfalls or better yet any perks. Tell me what you guys think. Leave a comment!

The Four C's of Consumer Credit

noreply@blogger.com (Migueldiaz24) — Sat, 16 May 2009 22:00:00 +0000

Now more than ever, we need to be cautious about our credit score - also known as FICO (Fair Isaac Corporation) score and our credit history - a financial report of everything that exists or existed. You are more likely to get approved for a credit card, a mortgage, personal line or loan and in some cases a wireless company will check your creditworthiness to approve you for a contract plan with them. Having a good credit score and history can not only help you when you're in need financially but perhaps one of the important reasons of having a good credit score - usually 720 or higher - is that it can save you thousands of dollars on say a mortgage. This happens because you are less of a risk to banks or companies who lend you money, therefore, give you a lower interest rate than someone with a credit score of 640.

The chart above gives an estimated example of interest rate you will receive for a 30-year mortgage based on a 300,000 loan based on your credit score.

Understanding the basics of how credit is measured, you can do a better job improving and maintaining your credit score and credit history. There is a system called "The 4 C's Of Credit" businesses go by to determine if an individual or another company will pay on time if they lend out money. There has been talk about adding more C's to the system like "Capacity" to minimize risk even further but we will stick to the standard here.

1. Character
2. Capacity
3. Collateral
4. Capital

Character

Payments - Have they been on time?
Delinquent accounts - Are you late on payment(s) for a specified time? 3 months?
Available credit - How much have you used up on your loans? How much left?
Total Debt - How much do you owe on everything?

Capacity

Over all Payment History - Good or Bad?
Capability - How likely are you to miss a payment?
Your Income - How much do you make?

Collateral

Do you have assets to secure a loan incase your default? A Car Loan? Mortgage?

Capital

Do you own stocks, bonds or something of value you can sell that can be used to pay off the borrowed amount?

Tip #6: Save Money On Beer

noreply@blogger.com (Migueldiaz24) — Thu, 14 May 2009 09:03:00 +0000

I just got back from the grocery store to do a little shopping and I picked up some of my favorite beer while I was there. It wasn't on sale but 5.99+taxes and crv isn't bad for a six pack. That comes out to $1.14 a beer after taxes and crv, pretty cheap if you ask me. Now there are ways to stretching your dollar even further. Here are somethings you can do to save on beer.

1. Look at different stores - This one is probably a no brainer to you but most of the time beers are almost always on sale. I tend to find a beer I drink on sale at one store but not at others but something that other store will be on sale when the other isn't.

2. Shop Online - That beer that I bought today at the grocery store was $5.49+ taxes and crv at BevMo! online for a pickup order at my local store; a 0.51 cent savings. Note: Sometimes your beer will not be available to purchase online.

3. Search for Coupon Codes - After a quick search at RetailMeNot, I found a coupon for 5% off an order online at BevMO! This brought the price down to $5.22+Tax and CRV; a total of 0.77 cents savings now.

4. Join The Club - When you sign up for a free membership at BevMo! and spend over $250 you get a 5% discount on your next purchase. That's and additional 5% if you find a coupon code.

5. Earn Rewards Points - When you purchase you beer, you want to earn rewards points don't you? The money you'll be earning plus the money you'll be saving after all the discounts already makes it worth it to use your credit card.

6. Buy Big - Ok, so I bought a six pack but unless you don't drink that often, you should go for that 24-pack or 30-pack. If I would have bought an 18-pack of my beer It would have come out to 0.99 cents a beer after taxes and crv. Add that 5% coupon code I found and it's down to 0.94 a beer.

7. Sharing Is Caring - If you and your friends are planning to have a BBQ or going to watch the next football game at your house, share the cost of the beer. I do this all the time with my friends because we all end up saving money while hanging out.

8. Brew Your Own - There is a simple way to brew your own way but you need time. Watch a great video below to learn more about that. I never tried it myself but it can save you a bundle by doing this.

9. Pre-game your Night Out - I don't know about you but where I live, it is so expensive for just one beer at a bar. It cost $4 a beer or more there! Try to drink with your friends with the beer you guys pitched in yourself at home and have a designated driver take you to the bar and back home. If you drink more at home, you drink less at the bars.

Save Money With Regular Auto Maintenance

noreply@blogger.com (Migueldiaz24) — Tue, 12 May 2009 01:41:00 +0000

I have a 1994 Honda Civic Lx model and it has way over one hundred thousand miles on it. It bought this vehicle used and it doesn't bother me that it has a lot of miles because I know Honda's can last a long time but only if you maintain them correctly and timely. Every 3000 miles, I take my car to the same mechanic shop to get an oil change at the same price.

I don't do the oil change myself because my mechanic shop checks for anything broken, loose, leaking, missing, noisy, out of order, tearing, worn out and basically anything that can seriously damage my vehicle without me knowing about it. Although I can conduct a simple oil change myself and save some money, I find it more valuable and assuring to have my oil change through my local mechanic shop so they can check if anything else is needed. My vehicle is about 15 years old but I have done just about everything to keep my vehicle running it's best. By doing this I have piece of mind and will save money in the back end by just doing regulare maintenance.

Here are some things I do that have contributed to the longevity of my vehicle and has saved me money.

1. Check the Oil - I try doing this every time I stop to get some gas, while you wait for your tank to fill-up it definately doesnt hurt to check your oil levels. Refer to your owners manual on this.

2. Tune-ups - Whether it's a new or old vehicle, every car needs a tune-up. You must refer to your owner's manual for this to find out when you should do these to get your car back to tip-top shape.

3. Rotate Your Tires - Rotating your tires on your car is one preventative maintenance often overlooked. By rotating your tires accordingly, you will increase your tires lifespan. Since tires are responsible about 80% of braking, it's not only saving you money but providing safety for you and your family.

4. Check Your Tire Pressure - We should all know by now that the right amount of tire pressure improves fuel effeciency. So if that its true, then its safe to say you will save money by doing this regular check up yourself and adjusting if necessary.

5. Change Your Air Filter - It is quite simple to change your air filter because it is so accesible. All I really needed was a phillips screwdriver to take the cover off and simply switch the old with the new. I have noticed a significant change in fuel efficiency here; about 8% better after just doint this.

So there you have it, I hope this was good info for you. I would also recommend to do most of these things yourself because they really are simple; especially checking your tire pressure. If you keep up with these small but important tasks, your car will literally go a long way.

Get Ripped, Not Ripped Off, By Avoiding Contracts With Gyms, Karate Schools

noreply@blogger.com (Migueldiaz24) — Mon, 11 May 2009 17:47:00 +0000

I currently have a gym membership close to where I live. It cost me $22 dollars a month and includes everything I need. After a little vacation I took to Vegas, I started to ween away from my gym which was not good for two reasons. 1. I was losing my momentum in my work out routine and 2. I was paying for something I was not really using. Greg Orlando at multimedia communications company Orlando Sentinel talks about avoiding getting ripped off on gym memberships and karate schools.

Luckily, when I signed up 6 months ago at my gym, I opted out from signing a 1 year contract and went for a month-to-month plan instead. I knew if something were to get in the way of using my gym, like being lazy or injured, then I can cancel my membership for the time being. I can't tell you enough how much I hate being tied up with a company via contracts, it makes me feel like I'm not in control of my money or my life.

Are bank stocks a good bet for investors after the stress test?

noreply@blogger.com (Migueldiaz24) — Mon, 11 May 2009 17:32:00 +0000

I'm a strong believer in trading stocks not playing the market because I think that term makes it sound like it's a game. I put my hard-earned money into carefully chosen stocks to provide equity for me and someday become my outlet to retirement. It's not a game. The financial sector has been doing really well these past couple of weeks and I have even doubled my money in the last 2 months in a particular bank stock and I am very happy about that, so I found this article I wanted to share with you. USA Today explains if it is a good time to invest right now.

There are some really good points made here:

•Likely to benefit from a better banking climate. Not only is the economy expected to heal, but banks may borrow at historically low rates, says Jim Paulsen at Wells Capital Management. There's also strong demand for mortgage loans. "It's a good operating environment for banks," Paulsen says.

and the other side of the fence:

Not everyone is convinced, though. Investors could do better with stocks in other industries, Maltbie says.

David Ritter of Argus Research says investors who think the banking crisis is over are deluding themselves. Refinancing activity and bond trading now helping banks are temporary, and problems with business loans are just starting, he says. "There will be poor earnings over the next couple of years. I'm not sure people have priced that in."

Share what your thoughts are and what you might be investing in and why.

Tip #5: Save Stamps by Using Online Banking

noreply@blogger.com (Migueldiaz24) — Sun, 10 May 2009 07:42:00 +0000

I don't really use stamps or envelopes for that matter because I do everything through my banks online banking feature. Most banks now a days offer this feature for free but check with your bank for more details. I even have an automatic payment come out every 1st of the month for rent. There is so much you can do with online banking like transfer between accounts, transfer between accounts at different banks, order new checks, money orders and statements, view statements, pay bills, view a spending report, set goals, set budgets, open a new account, apply for loans, nickname accounts, categorize transactions, view balances, consolidate accounts from other banks to one page, trade stocks, and more.

I don't really see a need for stamps and envelopes unless you are sending something other than a payment which isn't the case for me. If there is a document I need to send somebody I either go through email or fax to complete this task. I recently heard something about forever stamps and how they can save money because these forever stamps are good at the price you bought them for even if stamps increase in the future. The going rate is 44 cents a stamp starting Mother's Day up 2 cents from 42 cents a stamp ending today. I can see how this will save a small amount of money ONLY if you use a lot of stamps but Nathaniel Rich at a daily magazine company Slate answers the question "Should I Invest In Forever Stamps?"

Tip #4: Take Your Own Lunch

noreply@blogger.com (Migueldiaz24) — Sat, 09 May 2009 17:20:00 +0000

Sometimes we are all too often busy to make ourselves lunch for work and sometimes too busy to eat breakfast in the morning for that matter. Taking your own lunch to work can save you some serious money if you are consistent. I usually spend somewhere between $8-$12 on lunch somewhere when I could have brown bagged my lunch. If that is true then I could be saving somewhere between $40-$60 dollars a week that can be used to earn interest through bonds or buying some more stocks in my portfolio.

My History
I worked very close to restaurants, grocery stores and of course a Starbucks so it was very hard for me not to give into temptation and buy a cup of coffee or choose a pastry from the grocery store. At first, I was making small purchases on drinks and snacks at the store and going to restaurants almost every day; there rest of the time I would buy sandwiches I could have made at home myself. I took a look at my bank account statement and it showed I was making transaction after transaction purchases at the grocert store; it almost looked like an error on my statement because of multiple display name and the purchase price

Tip #3: Ask For A Break

noreply@blogger.com (Migueldiaz24) — Sat, 09 May 2009 03:14:00 +0000

I just called my wireless cellphone provider and told them that "I really like the service I'm getting and would like to stay with you guys as much as possible but I found another provider offering me the same plan for much less". I told my carrier that "times are tough and I certainly don't want to switch unless I have to and if I can just save some money then it would certainly help". The customer representative who I spoke to sympathized with me and tried to see if there was a better plan for my situation, but there was not. I then said "well times are tough for me right now and even a small $10 credit to my next bill would work out for me, do you think that's possible"? The customer representative replied and said "Sir, I understand you are going to some difficult times as everyone is and I can certainly take care of that $10 credit for you......that wont be a problem". I then replied with "We'll thank you very much you guys have always been good to me, I appreciate it".

It doesn't matter if it's your wireless carrier, you can ask for a break anywhere. Think about it, if you were to do this with your wireless carrier, gym membership, insurance provider, cable provider, telephone, internet and credit card companies interest rates, you would have saved a good amount of cash! I recommend Ramit Sethi's advice on negotiation at one of my favorite blogs "I Will Show You How To Be Rich".

Tip #2: Start a side busines

noreply@blogger.com (Migueldiaz24) — Sat, 09 May 2009 02:57:00 +0000

If you are down and out like most people are today, then get out there and make some money! There is a huge pie of money out there waiting for you to get a slice of so starting your own side business is a very good way to get a slice of that pie. Some people might have a problem choosing what to do for a side-business, but you should always concentrate on what you are good at. Can you fix a sink? Maybe you have a great lawn mower in your backyard that has not been used in weeks and someone out there is dying to find someone with a hefty lawn mower to pay them to do a job. Whatever it might be, starting your own side business can bring in some extra cash to pay some bills, expedite your savings goals, or to invest and earn more. Here are some suggestions on what you can do.

- Dog Walking - Great for exercise and your pocket
- Handy Man - Fix a leaky faucet
- Babysitter Services - Change a diaper
- House/Building Cleaning Services - Wash windows
- Pool Maintenance - Clean some water
- Garage Sales (Once a week if possible) - sell for neighbors and get a percentage
- Car Washes - Start one NOW in your city, I know I need mine washed
- Landscaping (mow lawns) - pick some weeds
- Post Cards or make Invitations - Eat your heart out Hallmark
- Bird Houses (Make them and sell them) - get a how to book from the library
- Scented Candles (Make them and sell them) - Mmmm.....I smell profits
- Blogging - Type, Idea, Type, Idea
- Aquatic Maintenance - Take care of other peoples gold fish
- Arts and Crafts - You did it in elementary, now make them for money

You might have a lot of ideas brewing in your head but be good at it and you'll do fine.....hey! I forgot translation specialist!

Tip #1: Buy A Phone Online, Not A 2 Year Contract

noreply@blogger.com (Migueldiaz24) — Sat, 09 May 2009 02:29:00 +0000

I currently have a contract with a wireless company and I noticed on my online account that I was eligible to upgrade my cellphone for a shiny brand new one only IF I signed up for another 2 year contract agreement with my carrier. At first I asked myself "why not"? but then I asked myself "What if I get laid off or fired from my job"?, "What if I like the phone I have now"? I found out there is a month-to-month option under my wireless company, not to be confused with a pay-as-you-go plan. A month-to-month plan is basically the plan you have now but contract-free and you usually pay full retail price for any phone you want in the future instead of getting the discount pricing under a contract. A pay-as-you-plan is when you pay for what you use like $0.50 a minute or $0.10 every text message.

I decided I will not be getting the upgrade I am eligible for and wait until my contact is over in the next 3 months so I can go into the month-to-month program. Some people might argue that if I do this, I will be spending more money because I have to buy any phone under the retail price. That's true, but I can also buy a phone online for half the retail price or cheaper and activate it through my carrier. If you choose to go with the upgrade and 2 year contract, not only are you stuck with your carrier for another x years but you still have to pay some of your new phone or depending on your taste, get it free AFTER a mail-in rebate.

This way I won't have to pay an ETF (early termination fee) with my carrier If I decide to opt-out of any changes done under the company or god forbid lose my job. Early termination fees can be a headache when you want to fire your wireless company for charging you more than they should in the first place. By switching to the month to month plan I won't be obligated to stay with my carrier and can switch whenever I please. Also if my phone gets lost, stolen, broken or just up for a new one, I can buy one cheaply online or from a friend. I like the feeling of being free and not having a wireless company own you so if it does'nt work for you, you know you can always go back.