jewelry

4 Ways to Add Gold to Your Portfolio

Dr Penny Pincher — Mon, 07 Aug 2017 08:00:05 +0000

Owning gold can be an attractive insurance policy in case of stock market turmoil or a decline in currency valuation. In times of economic uncertainty, gold prices tend to increase even when the value of other investments goes down.

If you are looking to reduce your exposure to stock market investments, or simply want to have something of value to trade in case of a zombie apocalypse, here are four ways you can invest in gold today.

1. Gold coins and bullion

The U.S. Mint issues American Eagle gold bullion coins in the following denominations:

1/10 ounce
¼ ounce
½ ounce
1 ounce

The selling price of these coins floats with the price of gold, plus you will pay a few percent premium for getting a minted coin instead of a plain piece of gold. With the current price of gold at over $1,200 an ounce, you can find 1/10 ounce American Eagles selling from dealers for under $150. Gold coins produced by the U.S. Mint are not sold directly to the public, but may be purchased from a network of authorized bullion dealers who buy the coins from the mint for resale.

Another option is the American Buffalo gold coin that comes in a 1 ounce denomination. This is a legal tender coin whose gold content is guaranteed by the U.S. Government. These coins are available at coin dealers and participating banks. The South African Krugerrand, Canadian Gold Maple Leaf, Australian Gold Nugget, Chinese Gold Panda, and British Gold Britannia are other popular gold coins from around the world.

A less expensive alternative to gold coins is to buy gold bars or gold rounds. These are not as impressive to look at, but are priced near the current trading price, or "spot price," for gold. This form of bullion may have simple markings with the weight and purity of the gold.

If the thought of keeping gold hidden in your closet or safe makes you nervous, consider using a bullion trading and storage platform. You can buy and sell physical gold bullion and it never has to leave the secure vault where it is stored unless you want to take it out. This gives you the benefit of directly owning gold without the hassle of transporting and storing it.

2. Gold jewelry

An advantage of buying gold in the form of jewelry is that you can wear and enjoy your investment, and it is highly transportable. A smart way to invest in gold is to give gold jewelry as a gift. A gift of precious metal jewelry will hold its value and possibly grow in value while most other gifts depreciate and eventually end up in a landfill.

When buying gold jewelry, you need to pay attention not only to the weight of the jewelry, but also the purity of the gold. Pure gold is designated as 24 karat gold. But pure gold is too soft and malleable for jewelry, so it is often mixed with other metals to make the jewelry harder and stronger. For example, jewelry that is 18 karat gold is 18/24, or 75 percent gold and 25 percent other metals. You can divide the karat rating of jewelry by 24 to determine the fraction of gold that it contains.

Sometimes you can find broken, tangled, or damaged gold jewelry for sale at a pawnshop for less than the spot price of gold. Just make sure you are buying solid gold, and not just gold plated items.

3. Gold exchange traded funds (ETFs)

A gold ETF is a fund that aims to track the price of gold. Some funds actually hold gold, while others do not own gold, but use derivative contracts instead. Gold ETFs allow a quick and easy way to get an investment that tracks the price of gold, and are convenient for large transactions since you do not need to move or store a lot of gold.

There are a couple of potential downsides to investing in a gold ETF. When you buy shares in a gold ETF, you might not actually own any gold — in some cases, you will own only shares in the fund. Since the fund tracks the price of gold, you may not have a problem with this. But if you are trying to reduce your exposure to large financial institutions by investing in gold, buying shares in a fund run by a large financial institution might not meet your goal. Also, some gold ETFs sell some of the gold that they hold to cover expenses, so the amount of gold per share that you own can be reduced over time.

4. Gold industry stocks and mutual funds

Another way to get a piece of the gold market is to buy stock of companies involved in gold mining and gold production. When gold prices go up, the stock prices of these companies can also go way up. Conversely, when gold prices go down, the stock prices of these companies can go way down.

You can buy individual company stocks or mutual funds that provide holdings in a number of companies in the gold industry. This market segment is especially volatile, but may provide a hedge against other types of investments in your portfolio.

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This article is from Dr Penny Pincher of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

3 Great Reasons to Choose a Secondhand Engagement Ring (and Where to Find One)

Kat Tretina — Thu, 09 Feb 2017 10:30:37 +0000

With Valentine's Day just around the corner, many couples will probably be getting engaged. But with the average engagement ring costing $5,273 as of 2015, the price of a ring can be a huge expense for couples managing debt or saving for the future.

However, that doesn't mean frugal couples have to forgo a diamond altogether; if you're willing to shop for a secondhand ring, you can get a beautiful diamond for a fraction of the price. Here are three reasons you should consider buying a used ring. (See also: How Much Engagement Ring Can You Actually Afford?)

Depreciation

Just like a new car, when you buy a diamond, it loses value the minute you walk out of the jewelry store. According to Diamond Cutters International, the depreciation level is steep. Your diamond is worth about 19.7% of the original price you paid once you leave the store.

For example, if you purchased a $10,000 ring, and then a few weeks later tried to sell it, you could expect to get about $2,000 for it. That's a dramatic loss for any purchase.

Limited Resale Opportunities

Because diamonds depreciate so dramatically, it can be difficult to find buyers for an engagement ring. Jewelers will typically pass on used diamonds, because customers are often insulted by how low the ring is valued. And because jewelers only have to purchase rings they actually sell from wholesalers, they hesitate to put out capital upfront on a secondhand ring.

Instead, many people looking to sell their rings end up turning to pawn stores, where they get a fraction of the resale cost, or online venues. Because of limited selling options for sellers, it's a buyer's market. You can get a high-quality ring for a budget price.

The Salary Myth

People still buy into the belief that an engagement ring should cost a month's salary or more. But that "rule" actually came from advertising campaigns by diamond seller De Beers. In the 1930s, the rule was to spend one month's salary. In the 1980s they updated it to say, "Two month's salary showed the future Mrs. Smith what the future will be like."

The salary myth causes people to spend way more than they can afford, and makes them feel ashamed or embarrassed about looking at secondhand rings. But the "rule" is an arbitrary number designed to make you spend more. You should spend what you can comfortably afford. And by purchasing a used ring, your money can go much further.

Where to Shop

If you are willing to purchase a secondhand ring, there are several sites that have wide selections of pre-owned engagement rings.

IDoNowIDont.com

With I Do Now I Don't, you can shop with peace of mind. Once you've found your dream ring and purchased it, the seller ships it to I Do Now I Don't. The company's jewelry experts and gemologists examine the ring and authenticate it to ensure it meets the item's description. If you're purchasing a name brand like Cartier or Tiffany, their team will identify if it's authentic or a knockoff. If they find any inconsistencies, you get a full refund.

Many rings sell for 50% or lower than their appraised value.

Helzberg Diamonds

Helzberg Diamonds is a traditional jewelry store, but they have a large pre-owned diamond ring section online. All pieces listed have been hand-inspected to ensure their quality and description accuracy. You can find beautiful, high-quality rings with discounts as high as 30% off normal retail prices.

HaveYouSeenTheRing.com

HYSTR is another option where people can buy or sell used diamond rings. The buying process is simple in that you can interact with sellers directly to ask questions about the item and make offers. Once you're ready to buy, you go through HYSTR's secure checkout system, and your money is held in escrow while their gemologists verify that your item matches the seller's description. Then you receive it via FedEx Next Day Fully Insured shipping.

ZALES Outlet

ZALES has an outlet section of their online store that offers a vast selection of previously owned jewelry. They acquire this selection through store returns and trade-ins. All items are cleaned and restored to their original sparkle, and the prices are typically 60% off retail prices.

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This article is from Kat Tretina of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Never Borrow Money for These 5 Buys

Alaina Tweddale — Tue, 24 May 2016 10:00:10 +0000

While there is a time and a place for credit — most of us won't ever be able to pay cash for a home, a college education, or even a car — there are also times when it should be avoided, at all costs.

It's difficult to delay gratification. It doesn't help that there's always a credit card or personal loan application in the mail. Still, there are certain times when it absolutely does not make sense to borrow money to make a purchase. For these big ticket items, think hard before you swipe your card or apply for that credit line. (See also: 7 Ways Pride Is Keeping You Poor)

1. A Boat

Depending on the boat purchased, a payment could equal the cost of a new car payment or — for a more luxurious option — the cost of a mortgage. At the same time, current boat loan rates range from about 4.5% for a $350,000 boat to as high as 6.25% for a $25,000 boat. That means that over a 15-year term, a modest $25,000 boat could end up costing $38,584. That's $13,584 more than the original sticker price.

When it comes to boating, though, the cost of the vessel is often the cheapest part of ownership. Additional costs to consider are state taxes, slip fees, winter storage, registration and licensing, fuel, insurance, and maintenance. Mint recently estimated the annual cost of a $20,000 boat upkeep at $4,300 per year or $358 per month.

2. Your Wedding

Getting married is one of the most exciting times in a young person's life, and yet… many don't fully realize all the costs that come after embarking on a new life together. Not everyone makes the same life choices, of course, but houses, children, college tuition, retirement accounts, and even new cars are expensive life items that many new couples choose to buy or fund as they build their lives together.

Starting a journey together with a pricey loan with a high interest rate is an expensive way to handicap yourself as you work to build a financially stable life together. When planning a wedding, it can be helpful to remember that it's just a big party. You'll have the memories when it's over, but it's the foundation that the marriage is built upon that's really most important. And that doesn't cost a dime.

3. Jewelry

High-end jewelry like engagement rings or tennis bracelets are expensive enough without adding in the financing costs. It may seem like good news that many jewelry stores are willing to help defray the costs by offering zero interest if the purchase is paid off within six or 12 months (depending on the store) but beware, there's usually a catch.

Miss one payment or fail to pay off the balance before the due date and, for most of the stores, interest will become due for the entire original balance — and it's usually at a rate that's somewhere between 23% and 29%. That means that a $5,200 ring (the average wedding ring cost) could end up costing an additional $1,461 in interest payments alone, assuming a 25% interest rate and a two-year term.

4. Furniture and Consumer Electronics

Store issued credit cards are common upsells at the cash register and, if you're buying a big ticket item like a new sofa or flat screen TV, it's easy to be tempted by the seemingly attractive financing terms. What many credit consumers don't realize is that store cards typically work in a similar way as jewelry financing, as described above.

The offer may state 12-months, zero APR (or 12-months, same as cash), but miss a payment and you'll reset the clock, finding yourself responsible for interest payments from the date of purchase, not from the date when the payment was missed. For a $4,000 furniture purchase, a missed payment could add $1,400 in interest to the bill, assuming a 24.99% interest rate and a 24-month term. In other words, that financed furniture (or computer or refrigerator or… well, you get the idea) could end up costing you a lot more than you expected.

5. Vacation

Most vacations last a week or less but, if you take out a personal loan or swipe a credit card to fund the getaway, it won't just be the memories that last a lifetime. Earlier this year, MarketWatch determined that you could raise a child from infancy to adulthood before you could repay a $2,000 credit card balance with a 18% annual rate, if you're making just the monthly minimum payment. That's 30 years in repayment, based on their analysis, and an extra $4,931 in interest payments.

For many purchases, buying on credit can cause a lot of financial strain. Before you buy, it's important to understand the full cost of the purchase, including the cost of credit. Most times, you'd be much better served by saving up, instead of swiping your card. Think before you borrow. Your wallet will thank you.

What purchases do you refuse to make on credit?

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This article is from Alaina Tweddale of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

4 Purchases With Financing Options That Depreciate Fast

Qiana Chavaia — Wed, 02 Mar 2016 11:30:07 +0000

It's refund season. Unfortunately, the first thing most people do when they receive their tax refund is purchase big ticket items that often depreciate in value. Far worse, sometimes the refund is used as a down payment, and the purchase still requires financing. Or, it's bought before the money actually arrives and carried as a credit card balance — believing you'll use your refund to pay it off. (See also: 8 Smart Things to Do With Your Tax Refund)

Investing your tax refund in smart, long-lasting purchases you really need is one thing. But using the money on big-ticket items that are certain to depreciate is a losing financial proposition. Consider avoiding these depreciating purchases:

1. Jewelry

Suze Orman likes to point out that she always wears the same jewelry. I'm the same way. Unless it's for a truly special occasion — such as an engagement ring, wedding band, or anniversary gift — jewelry isn't something you should buy often. Precious stones, in particular, tend to depreciate hard and fast. Ira Weissman, a 10-year veteran in the diamond business, says diamonds are a terrible waste of your money because their value often drops to less than half after your purchase.

2. Automobiles

You've heard that cars lose their value the moment you drive off the lot. So, why pump so much money into something that will never appreciate in value, will only cost more money over time, and ultimately need to be replaced? And worse, why would you finance a new vehicle — taking on additional debt on top of a depreciating asset — if you don't really need a new car?

The good news is, consumers have wised up to the truth about auto financing. And the automobile industry has caught on to the fact they can no longer convince people to run out and buy new cars every two to three years. But they still want your money. So, they've created an alternative scheme to traditional three to five year financing. It's an auto lease, where if you use the car for work (individual or business), you can deduct up to as much as 100% of monthly payments and other expenses. While it's not right for everyone, in some situations, it's a good alternative to taking on new car debt. Of course, the best option is still to pay for cars in cash, buying a vehicle only when you really need it.

3. Electronics

In our nation's consumer-driven economy, the sale of goods is the backbone of business. So, some businesses no longer have an incentive to make quality products that last, because consumers want the latest release with updated features. Since electronics are a necessary — and rapidly depreciating — evil, your best bet is to buy only what you need, get an extended warranty on it (if possible), insure it, and hang onto it for years to come. Help drive down the excessive costs of these expensive gadgets by simply refusing to trade them in every year.

4. Furniture

Used furniture is only as valuable as what someone is willing pay, and that's often far less than what you paid originally. Even designer furniture in good condition only fetches a small fraction of its original price. If you're in the market for furniture, buy high-quality, durable pieces if you can. Budget and plan for their purchase and acquire them over time. If you can't quite afford those high-quality items yet, consider buying them used and let someone else take the depreciation hit, instead.

Are there other quickly depreciating buys we've missed? Please share in comments!

This article is from Qiana Chavaia of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How Much Engagement Ring Can You Actually Afford?

Andrea Cannon — Mon, 21 Sep 2015 11:00:11 +0000

Shopping for and purchasing an engagement ring is one of the most important decisions a young couple can make. It can be easy to get carried away with the ring, but it's important to remember that the wedding, honeymoon, and first year of marriage will also be very expensive. Fortunately, we've found some simple ways to help you figure out how much you can afford to spend on the ring.

1. Evaluate Your Finances

Before making the purchase, you should first get a handle on your finances so you can determine how much you make, how much you can finance, and whether a certain amount is worth it. The average cost of a diamond engagement ring has risen from just under $4000 to just over $5000 in 2015, but that doesn't mean you should be spending exactly that. You are the only person who can decide what the right amount is to spend on an engagement ring.

2. Forget the Two Paycheck Rule

Most people still abide by the two paycheck rule, which states that two months' worth of earnings is a good amount to spend on a ring. However, with the current economic situation and more savvy shopping techniques, the estimate has fallen to one month's worth of earnings.

3. Finance It

At the end of the day, financing is always an option. By financing the ring, you will have time to pay it off, but will likely have to pay a fee and/or interest. If you are able to finance the ring with 0% APR, then it may be worthwhile. If you already have enough debt under your name and don't want to add another bill right before you're married, then you should avoid financing altogether.

4. Find Something Sentimental

Something sentimental trumps something expensive every time. If you have an item that means something to your family or your partner's, include it in the engagement. For instance, giving your fiance your grandmother's engagement ring can show them that you're serious about sharing your family with them and can take the pressure off of finding the "perfect" engagement ring. Giving him or her a sentimental item will make your engagement ring seem more special, or can serve as a second engagement ring or wedding band.

Often, men will give their family heirloom as the engagement ring itself, which can save you hundreds or thousands of dollars — all of which can be put towards the wedding or honeymoon.

5. Figure Out Your Partner's Style

The national average carat size is only 0.4, so don't feel obligated to purchase a two-carat engagement ring. In fact, extravagance may not even be your fiance's style. You need to first ask yourself what you think they would like before making the purchase. Their preferences will affect the price of the ring, so taking their taste into account will help you determine the right budget.

Engagement rings can be found in gold, white gold, platinum, silver, and more. While diamonds are the most popular engagement ring stone, you may want to consider other unique options, like an emerald, sapphire, or ruby. Each type of metal and stone comes with its own advantages and price point, so you should know what type of jewelry they normally wear. For instance, does your spouse-to-be tend to go for classic or extravagant jewelry and designs?

6. Visit Your Jeweler

To ensure that you get the most from your investment, make sure to take the time to find your fiance the right ring. Visit your local jeweler to ask questions and see some examples of rings in your price range. Make sure to keep the four Cs (cut, color, carat, clarity) in mind when choosing a diamond, but don't get carried away with the stone.

7. Purchase Online

Visiting a jewelry store and speaking with a professional about your needs doesn't require you to purchase the ring at the jeweler. In fact, you can actually cut the cost of your ring by as much as 50% by simply making the purchase online and doing your research. Sites like Blue Nile offer beautiful engagement rings, for a huge discount, and can even help you create a custom ring just for her.

8. Upgrade the Ring Later

If you simply cannot afford to purchase the ring you'd like to get, then consider upgrading later in life. After all, after you pop the question, you'll be together forever, right? That gives you plenty of time to upgrade the ring later. Most importantly, remember that the ring you choose won't have any effect on your relationship. There are bigger things to worry about and bigger expenses on the horizon, so try not to get too caught up on the ring. Remember, getting engaged is about planning to share your lives together, not about giving them a fancy present.

Have you purchased an engagement ring? How did you determine how much to spend? Please share your thoughts in the comments!

This article is from Andrea Cannon of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

12 Money-Saving Tricks to Know Before Buying an Engagement Ring

Mikey Rox — Fri, 13 Feb 2015 18:00:07 +0000

Planning to pop the question? You'll need a ring before you get down on bended knee, and when it comes to buying jewelry, it's easy to make costly mistakes (especially if you don't know what you're doing). (See also: This One Wedding Trick Will Save You Thousands)

To ensure that you're getting the best value for your budget, here are 12 engagement ring tricks from leading industry experts. Former diamond cutter and third-generation jeweler Anubh Shah of Four Mine, and Andrea Novella, creative director at Gemma Jade Jewelry, divulge their insider secrets to help you get the most brilliance for your buck.

1. Buy Diamonds Just Shy of Critical Weights

Carat weight and size are important in the ring-buying process — at least they are to your girlfriend — and jewelers know it. That's precisely why most diamonds are cut in half and whole increments, as pricing is based on those thresholds.

"Instead of shelling out for the full 1.00 carat diamond, try to find something around 0.95 carat," advises Shah. "Manufacturers do everything they can to cut to critical weights because the pricing is tiered on those values. If a diamond is cut to less, the value is lost and therefore price can be significantly less."

Novella agrees, calling this "the best tip of all."

"Diamond prices increase exponentially for each carat," she says. "So if you want one carat, buy a .97. If you want 2, buy 1.95. It's essentially the same thing but much cheaper."

2. Buy Diamonds Online

We buy everything else online these days, so it only makes sense that you can find great deals on diamonds at Internet retailers.

"Buy diamonds online, even if you want to browse in store," suggests Anubh. "Prices are significantly less and selection is far larger. You can see upwards of 20% price differences between online and in-store prices. Online jewelers are extremely price competitive and so the markups are actually very low. Jewelers make their margins on the setting, so buying the diamond loose then having it set in a ring locally is also a great idea."

There's another important tip that you don't want to overlook, and it can save you hundreds of dollars.

"Also, buy one from a jeweler that's out of state so you save on taxes," Anubh adds, "which can be an 8%+ difference."

3. Plan Your Purchase for the Summer

June through August is unofficially known as wedding season, so you probably assume that's the worst time to buy an engagement ring. The exact opposite is true, in fact, because while the actual weddings are taking places during the warmer months, most engagements are established throughout the rest of the year.

"Summers are a good time to buy — summers are slow for most jewelers and wholesalers so they'll be more price flexible to try and push inventory," says Anubh. "Pricing is volatile around Christmas and can either go drastically up or down. Avoid the volatility and buy during the summer days. Plus it's wedding season so people aren't generally buying as many engagement rings at that time."

4. Opt for a Non-Traditional Shape

Would your lady prefer a round diamond? Unfortunately for you, she's in the majority, which drives the price up due to demand. To save some coin — if it won't leave you single, of course — look into more non-traditional shapes.

"Fancy shapes (shapes other than traditional round) are significantly less expensive and more trendy — why?" asks Anubh. "Because round is the most popular shape so it's most in demand — simple economics. Also, a diamond cutter's job is to preserve the maximum amount of weight. Rounds lose much more carat weight than other shapes, so they carry a premium."

5. Consider Alternative Stones

They say that diamonds are a girl's best friend. But isn't it interesting how there's no famous idiom that equates diamonds to a dude's worst enemy? If you're feeling the pinch on the prospect of buying a diamond, perhaps you can consider alternative stones, like precious gems or even a manmade, eco-friendly diamond-esque stone. (Tough sell, I know, but it's worth a shot.)

"Non-conventional brides might want to consider alternative stones to diamonds, or use a diamond setting but another stone for the center stone," Novella suggest. "Asian cultures highly value imperial green jadeite, for example. It's more rare than diamonds but still more affordable."

(P.S. If your bride is non-conventional, consider yourself an even luckier man.)

6. Go for the Gold

Yellow gold went out of fashion for a while over the past couple decades, but its back with a vengeance now that it has an enviable price tag. And Novella wants you to hone in on it for investment's sake.

"Gold provides the best value. Prices have steadily risen over the years so it's a good investment metal, but more affordable than platinum," she explains.

7. Look for 14k Instead of 18k Gold

While you're concentrating your efforts on gold, you should also know that there's a better value between one karat weight and another. It may seem like 18k gold is the best buy given the higher number, but that's not the case.

"Generally, you can consider 18k like a brand name; it's purer than 14k, but adds little to no extra raw value," says Anubh. "The longevity of 14k is high, and simple 'servicing' (yes, like with a car) can keep it looking brand new. Just polishing out scratches or rhodium plating restores shine as if it were new. Do this once year — it should only cost about $10 to $20."

8. Steer Clear of the Brand Name Rings

I didn't have to buy an engagement ring because I married a dude (we're simple like that), so I had no idea that there were brand-name rings. Now that you are enlightened, you should stay far away too.

"Avoid brand name rings and branded designs," Anubh warns. "Any ring can be custom made and any design created as close to the original as possible. There are huge savings when custom making a branded design so I definitely recommend that route if you like something branded outside your budget."

9. Look for Diamonds in the H/I Color and S1 Clarity Range

Now we're getting into the nitty-gritty of engagement ring buying with a quick lesson on diamond color and clarity.

H/I color is an "average color, middle of the road, greatly abundant, and consistent color in nature," according to Jewelry Secrets. In laymen's terms, the color is a little bit off (a bit of yellow in the mix), but hardly noticeable. The SI clarity range on the other hand includes three levels — SI1, SI2, and SI3 — which equate to flawless to the naked eye, flawed to the naked eye, and "This is probably a diamond, but it's definitely not the best one," respectively.

If you want to spend less, this is where you can make some concessions, says Anubh.

"Diamonds in the H/I color and SI clarity range offer the best value," he explains. "The imperfections are rarely visible to the naked, untrained eye and the color is hardly distracting. Round diamonds mask color much better than fancy shapes."

This is another slippery slope, gentlemen, so proceed with caution.

10. Seek Out GIA-Certified Rings

Did you know that there's, like, a governing body on diamonds? There are a few, actually. But the Gemological Institute of America is the only one you need to know.

"Only buy GIA-certified diamonds, if you're truly looking for value for money," Anubh advises. "GIA is the most consistent grading lab and has the highest grading standards. Other labs are inconsistent and carry noticeable discounts for a reason. Don't be fooled!"

11. Put Away the Plastic and Pay Cash

Given the high cost of engagement rings, your plan probably is to pay for it with credit. That's not the best idea for two reasons — you can easily rack up interest charges if you let the balance drag on, and you may be missing out on savings. A better bet is to hoard cash until you can afford it outright. You'll sleep better at night knowing that you don't have another huge bill looming over your head, it'll give you enough time to make sure this is definitely the right relationship for you, and you'll keep more money in the bank because of a potential kickback.

"Buy your engagement ring via bank wire or check from a wholesaler," Anubh recommends. "There's almost always a discount because no credit card processing fees are involved."

While we're on the subject of diamond wholesalers, Novella thinks you should seriously consider this route over a local jewelry store.

"Buy the diamond wholesale or through a broker, and then have it set with the jeweler," she says. "You'll save on the markup for the center stone, which is the main part of the cost."

12. Stick to Your Intended Budget

It's really easy to go over budget when you're blinded by love — but you need to keep it together, man. Set a max amount that you'll spend and make it your goal to find the perfect ring by coming in under that threshold.

"Unless you're blowing out your budget, the odds of getting something significantly better for a small increase in budget are low," Anubh imparts. "It'll make you feel bad in the long run. Stick to a number and stay under. Everyone is happy when they find an extra dollar in their jeans pocket."

Did you save a bundle on an engagement ring or other piece of jewelry? How'd you do it?

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This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Wantable Accessories: Funky Elegance at a Discount

Amy Lu — Mon, 02 Dec 2013 11:01:25 +0000

Why pay full price when there are discounts to be had? Makeup and fashion accessories are no exception. With Wantable, you can get premium makeup, accessories, and intimates at half price — or less! While you won't know exactly what will arrive, a style quiz ensures that you'll love what you get. (See also: Affordable Accessories to Kickstart Your Style)

About Wantable

Wantable is a Milwaukee-based company of about 15 employees spread to as far as New York City. They aim to match their customers with sure-to-love accessories, makeup, and intimates. For $40 (or $36 if you sign up for a subscription), you receive a number of goodies valued at $80 to $100, all which suit your personal style. How do they know what you like, you ask? Well, they ask — in the form of an illustrated style quiz. (See also: Surprise Yourself With a Wantable Box)

The Goodies

The accessories I've gotten from Wantable have been great so far. There were one or two misses, but nothing to make me want to return the whole box. The style quiz really seems to work! Here's a sampling of my loves, likes, and dislikes:

Love: Classic, Mix 'n Match, Earrings, Necklaces, Headbands
Like: Rock 'n Roll, Boho, Bracelets, Gold Tone, Silver Tone
Dislike: Rings, Watches, Sunglasses, Wood, Leatherette

And these arrived in the mail:

Akoya Necklace

Look at this. Look at it! I mean…wowzers. I am rendered speechless by how gorgeous this necklace is. It manages to make pearls and rhinestones — pretty traditional elements in jewelry — a little funky, but not so much that it would be out of place at an elegant soiree. I would absolutely pay full retail for this.

Retail value: $28

Lavi Bracelet

If you need a bracelet to go with the above necklace, this one will do quite nicely! The gold settings that make up the Lavi bracelet have tiny balls on the corners just as the settings on the Akoya necklace do. Don't worry about being too "matchy-matchy", though; transparent faceted gemstones make for an interesting twist. The extra bulky spring ring clasp is something I don't see every day (which is nice!) but it's also a little hard to maneuver (not so nice).

Retail value: $28

Calida Earrings

With these Wantable boxes, there's always something that gives me pleasant surprise. (I guess that's the point, isn't it?) From the front, the Calida earrings seem like a simple black round set in a textured gold frame. But from the side, you'll see that it's actually a crown. It's not noticeable unless someone gets up close and personal with your ear, but like the colorful patterned lining of a trench coat, you know it's there.

Retail value: $18

Imagine Earrings

The Imagine Earrings are small, silver-toned infinity signs. I guess they're…nice? They'll work fine if you need a basic piece of jewelry that's not too showy. I would be spending all day checking to see if they're perfectly horizontal on my ears, but that's just me.

Retail value: $20

Is It Worth It?

The total retail value of this box is $94. At $40 per box, this translates to $54 (57%) savings. While I am somewhat underwhelmed by the Imagine Earrings, I love everything else — especially the Akoya Necklace. You miles may vary, but for me, the beautiful necklace and bracelet make this box worth it! Check out Wantable now!

Disclaimer: I received a free box for an honest review.

This article is from Amy Lu of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

10 Awesome Sites to Shop for Affordable, Cool Jewelry

Kelly Medeiros — Tue, 12 Nov 2013 09:36:03 +0000

You don't need diamonds and precious gems for a great jewelry wardrobe — although they sure would be nice. The good news is that there are plenty of affordable jewelry alternatives, where stylish designs and fashion statement pieces abound. Here are some great online jewelry retailers, who not only make finding interesting and gorgeous jewelry easy, but also give your wallet a break, too. (See also: Cheap Accessories to Kickstart Your Style)

1. Baublebar

Baublebar prides itself on offering guilt-free price points for stylish fashion jewelry. A huge selection of diverse and affordable inventory (think necklaces priced in the $20-$40 range) is continually updated, making this site a great find for gifting or expanding your own collection. While pieces this cheap usually skip the real stones, it's remarkable that most of the jewelry always looks a lot more expensive than it is. And don't forget, there's free shipping on all orders to help you save. The site also features a "Guest Bartender" section, where fashion mavens feature their best picks. In addition to a well-stocked sale section and monthly deals, a great wedding section full of dazzling faux pieces rounds out the site. (See also: Alternative Wedding Ideas for Big Savings)

2. Dasha Boutique

Dasha Boutique is an online treasure trove of beautifully handmade gemstone jewelry based out of San Francisco. The site has been heralded in major fashion outlets, in addition to having some celebrity pull. But you might think gemstones and high fashion means it will cost a fortune — think again. In addition to Dasha's many usual sales, where items can run 30% off or more, they keep most of their collection very affordable for such high quality gemstone pieces, with a large selection of items under $50. All orders arrive beautifully packaged, and anything can be customized to your liking using an easy to follow online guide. Several years ago, I customized a very affordable pair of gorgeous drop moonstone earrings for my own wedding, and have been buying from Dasha ever since.

3. Girl Props

A young and free-spirited site for some of the cheapest jewelry around, Girl Props offers over 4,000 whimsical jewelry and accessory items for gals of all ages. While the materials and selections aren't necessarily the same quality as those handcrafted, artisan pieces found elsewhere, pendant necklaces for $3.99, a collection of faux-gold bangles for $2.99 and a set of 18 pairs of stud earrings for $9.99 make this a fun site for tweens and adults, alike. Free shipping on U.S. orders over $10 makes this site even more of a no-brainer for cute jewelry and accessory indulgences. (See also: 10 Places to Find Affordable Accessories)

4. Satya Jewelry

Satya Jewelry's online site it a fantastic representation of what this beautiful New York based store has to offer. Satya combines semi-precious stones and sacred symbols to make truly unique and lovely pieces with meaning. While they carry some higher-priced pieces that sell for hundreds of dollars, the site has a large selection of items under $100, and even a nice collection under $50. The sale section is a great find as well, with items marked at 50% off, meaning you can score a stunning piece for often under $35. Also take advantage of Satya sample sales and other promotions if you sign up for email alerts. The company has also started the Satya Foundation, which raises money for children's groups throughout the world.

5. Lydell NYC

Lydell NYC features some great, affordable costume jewelry on a well-organized site. Earrings can run as low as $15, while a decent selection of necklaces and bracelets can easily be found in the $30-$40 range. The site offers easy ways to search for items by style, collection, or as seen in the press, making it even easier to land a unique cuff bracelet or to find a pair of earrings recently featured in "Lucky" or "Real Simple." And don't forget to check out the sale section, where items are often slashed 50% or more. Lydell also offers free shipping for orders over $50 and a 30-day return policy.

6. Bluefly

You may have shopped designer discount retailer Bluefly before for some great designer apparel deals, but they have a great jewelry department as well. The site has made it easy to search out the more affordable pieces in the fashion jewelry section, but they also sell discounted fine, estate, and diamond jewelry at much higher price points. Sticking to the fashion jewelry, you can search out all kinds of designer names and styles at massive discounts. Regular sales on already reduced pieces and final sale items can save you a bundle to easily land a nice piece of jewelry for $30 or less.

7. Danielle Stevens Jewelry

Danielle Stevens Jewelry, which has also been featured in fashion magazines and worn by celebrities, has a great online shop where you can buy some trendy, affordable costume jewelry that looks very luxe. Besides a generous online offering at decent price points, the site has a number of great promotions throughout the year, including some sale items where you can save 50% or more. Custom engraving, a great sale section, and a charity section with pieces priced under $20, make this a great place to find some not-so-hidden gems. Items also arrive in a very cool signature jewelry bag.

8. Le Mode Accessories

Le Mode Accessories offers reasonably priced jewelry, all with an eye towards current fashion trends. Many fashion necklaces on the site can be found under $30, while stylish earrings are almost all priced under $20. They also offer some cool handbags, scarves, and belts at very economical prices. An array of styles, from boho chic to modern looks can be found on the site, which makes it easy to find something great to satisfy just about anyone's taste. (See also: Wantable Jewelry and Makeup Tailored for You)

9. by boe

New York based jewelry line, by boe, formed by Swedish jewelry designer, Annika Inez, has gained popularity with its unique, architectural shapes and striking designs. The by boe brand features many upscale, beautiful items under $50, while the site's Inez brand runs at higher price points for items using vintage Czech glass stones. You can receive 10% off your first order by sharing your email and there is free shipping over $75. The company also donates 5% of your purchase to Women for Women, a charity that helps female survivors of war.

10. Etsy

No good jewelry search would be complete without also mentioning Etsy as a resource. It goes without saying that Etsy is a great destination for handmade and vintage jewelry of all kinds. Given they have designated an entire category for jewelry alone, searching through the vast array of choices can be overwhelming. The key is to narrow your search as much as possible by description or artisan and be sure to search within your designated price range to find an affordable, one-of-a-kind piece.

Where do you find jewelry online?

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This article is from Kelly Medeiros of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Do Wantable's Statement Accessories Say Yay or Nay?

Amy Lu — Tue, 29 Oct 2013 09:36:03 +0000

Are you up for a sort-of surprise? Just answer a quiz and Wantable delivers! Although you won't know exactly what you'll get, you can count on Wantable to personalize your box just right. I received some beautiful, bold pieces in this box (yay!) and one that is a tad less impressive by comparison — but each one definitely suits my style.

For some people (myself included), the price might be a smidge high for a regular expense. But if you're used to paying premium for quality products, a Wantable box may actually help you save money. (See also: Where to Find Inexpensive Accessories)

About Wantable

Wantable aims to match their customers with makeup or accessories they're sure to love. The goodies in each box are hand-picked by Wantable's in-house and guest curators, based on the answers you provide in a super easy style quiz that only wants to know if you love, like, or dislike the options they present to you. For a one-off box at $40, or a subscription at $36 per box, you receive 4-6 full-size makeup products or several pieces of quality accessories (the exact number seems to change month to month). With each box valued at $80 to $100, you could save up to 60% on the latest in beauty and fashion. (See also: Wantable Makeup Box Review)

If makeup and accessories aren't your thing, Wantable has also rolled out an intimates box with stylish and comfortable essentials (think camis, tanks, socks, tights, panties, and soft bras).

The Goodies

We're back to accessories with this month's box. My previous accessories box was a hit overall. How does this one stack up? To give you an idea of what the Wantable team had to work with, here are some of my answers to the style quiz:

Love: Classic, Mix 'n Match, Earrings, Necklaces, Headbands
Like: Rock 'n Roll, Boho, Urban, Multi Tone, Beads
Dislike: Rings, Watches, Sunglasses, Leatherette

And here are the products they sent me:

Estella Earrings

Can something be both elegant and cute? Yes, and the Estella earrings prove it. The warm apricot gems in their stately oval shape, the tiny pearl-like beads at the top, and the whimsical bows and flowers all come together in old-fashioned quirkiness. My mom, who loves elegant and cute things, walked off with them at first sight. (See also: Affordable Accessories to Kickstart Your Style)

Retail value: $24

Aubrina Earrings

I don't usually buy black earrings because they get visually lost in my hair, but I can count on the Aubrina earrings to stand out thanks to the silver trim. They seem to recall the standard diamond shape that you often see on earrings, but the rounded corners — more clover than diamond — softens the look. The earrings feel a little heavy, but the backings are secure enough that I'm not at all worried about losing one.

Retail value: $22

Emmy Necklace

I think I would like the Emmy necklace more if the green bars were larger. It's such a beautiful color, and I want more of it! As is, I'm a little underwhelmed, but I can see this working as an everyday, I-just-need-a-spot-of-color kind of accessory.

Retail value: $28

Gretchen Necklace

I thought this necklace looked fairly ordinary at first. It's basically a circular pendant on a long chain — and that's what you would see from a distance. But then I really looked at it, and I fell in love with the details. The construction of the pendant (two main rings looped together by twine-like wire) and the many different textures bring interest to an otherwise simple shape. My only worry is that the out-facing rhinestones along the edge can damage sweaters and other delicate clothing. Then again, I can imagine the necklace being a mildly effective weapon — it's certainly sturdy enough!

Retail value: $24

Is It Worth It?

The retail value of everything in the box came out to $98. There is no way I would purchase any of these pieces at their full retail price, so the 59.1% savings is too far removed from my budgeting world to really get me excited. But if I think about it from a different angle — these pieces are gorgeous, and they're only about $10 each! — I would say this box is worth it.

I want to emphasize this box, because the cost for monthly boxes can really add up. (Seriously, there's no way I'd be able to keep this up if I weren't reviewing these boxes.) And while Wantable tries to match up the goodies with what you like, there's no guarantee or one-item return policy — full-box returns only. Still, I think the Wantable experience, quiz and semi-surprise and all, is a fun treat for special occasions and an awesome gift for the makeup or fashion inclined.

Disclaimer: I received a free box for an honest review.

This article is from Amy Lu of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Love Makeup or Jewelry? Surprise Yourself With a Wantable Box.

Amy Lu — Mon, 10 Jun 2013 10:48:33 +0000

Do you like surprises? Do you like trying out new things? If you're also into makeup or fashion accessories, then you'll want to check out Wantable. I gave it a test run recently, and while I'm not sure it's a good fit for me, I can definitely see how it can work out very well for others! (See also: 10 Places to Find Inexpensive Accessories)

About Wantable

Based in Milwaukee, Wisconsin, the Wantable team aims to match you up with fashion and beauty products they know you'll love. From the About Us page:

"Each month our in-house and guest curators hand-pick beauty and fashion jewelry products from hundreds of quality boutique, specialty, and premium vendors to find the best on-trend items. Then we use each customer's unique profile and purchase history to select the perfect set of products just for them."

You may wonder, what's this "unique profile" about? It's pretty simple. They use data derived from a survey you fill out to make sure the products in your box will suit your tastes.

How It Works

You're launched into a tailor-made experience right from the homepage. Start by choosing between two categories of goodies — makeup or jewelry — then complete a survey that asks about your style and preferences. Once your order is in, they'll send you a box with 4-6 full sized beauty products or 3-5 pieces of jewelry and fashion accessories.

The survey takes about 5 minutes. The questions start off broad (What styles do you prefer? What kinds of products do you want?), then gradually shift to the details (How long do you like your necklaces? Do you like matte, shimmer, or glitter nail polish?). They give you some options — with pictures! — and you can move a slider to Love or Dislike, or leave it at Like. Wantable's "curators" will then use your answers to pick out items you're likely to love and leave out altogether the ones you dislike.

Each box is valued at $80 to $100. You can choose to buy a single box for $40 or subscribe for monthly boxes at $36 each. They ship automatically each month, and you can cancel or skip the subscription at any time. Returns seem pretty painless — just use the original box and the prepaid return label, and send it all back at any time — even if the products were opened or used. However, it's an all-or-nothing deal; you can't return one item and keep everything else. (I asked. More on that later.)

The Goodies

I took the survey for both categories but ultimately chose the box of jewelry and accessories. The box itself is a sturdy little thing that should fit in most mail boxes, and it's stuffed with enough packing material (namely, paper strips and a sheet of bubble wrap) to ensure that it all arrives safely. There's also a return shipping label, just in case.

To give you a sense of what the goodies in my box should look like, here are some of my choices on the survey:

Love: Classic, Glam, Rock 'n Roll, Quirky
Like: Earrings, Bracelets, Necklaces, Silver Tone, Gold Tone, Multi-Tone, Acrylic, Beads
Dislike: Seasonal, Rings, Wood, Skulls

And here's what they sent me:

Suzi Earrings

The stud earrings look pretty basic, right? Except they're huge. Well, not huge huge — just way larger than any pair of studs I already own. The scale and square shape gives an otherwise simple design that wow! factor I keep hearing about but never really see out in the wild. Until now.

Retail value: $20

Alisandra Bracelet

I wasn't really sold on the white-and-gold bow bracelet at first. I thought the design was cute but kind of forgettable, and I couldn't figure out how to get it open. Here's a play-by-play:

"I see a hinge, but I can't pull it open." Some gentle tugs. "Huh. It's still not opening." Stronger tugs. The bow twists to one side. "Oh no, I broke it! I broke it!" Bracelet slides open. "Wait. Hold on. I think I got this." I slide a notch into the corresponding hole, and swing the bow into place, securing the bracelet. "This is the best bracelet ever."

There wasn't even a survey question about whether I like everyday objects with interesting mechanics (I do)! Even though I know it's just a coincidence, I feel like the Wantable folks really get me with this bracelet.

Retail value: $26

Drew Earrings

I love these. I love them so much. They're exactly the kind of earrings that I go "Ooooh!" over — but far sturdier than most earrings I see at department stores.

Retail value: $22

Nicola Sunglasses

Guys, I really like how the sunglasses look, but I think I made a mistake here. I tend to overthink surveys, so it took me 15 minutes to do the Wantable jewelry survey when a normal person would only need five. But see, when I overthink things, I also tend to make really dumb mistakes — like answer that I like sunglasses (which I do, generally) when I can't wear non-prescription ones. I don't want to return the other pieces along with the sunglasses, so I can either get prescription lenses installed…or give them to my sister.

You're welcome, J.

Retail value: $15

I think Wantable's curators did a great job; I did really like what I got.

Is It Worth It?

I opted for the jewelry box because I don't usually wear makeup and I wouldn't know what to do with 4-6 full sized, brand new mystery products all at once. (Probably comb YouTube for makeup tutorials.) However, I was still a little skeptical about my choice. I can't really justify spending $40 on a few pieces of accessories, and the thought of steadily accumulating jewelry over the course of a $36/month subscription frankly scares me. Even if they are such well-made pieces.

But if you're already in the habit of spending a little extra for quality jewelry or makeup, Wantable may be a good fit for you. The total retail value of the items in my box was $83; at $40 per box, that's just over 50 percent in savings — and that's on the low end. If you receive a pricier box (say, max value of $100), you could stand to save 60 percent on goodies you might not have purchased at full price.

I can also see Wantable working very well as a gift — and they give you that option. They'll send the recipient a link to take the survey and will charge your card when an order goes through. It makes a nice gift for a young woman with a budding makeup collection, or anyone who likes surprises that aren't too surprising. I can think of a number of family/friends who would enjoy the Wantable experience, survey and all.

Final verdict? If the price doesn't faze you — totally worth it.

Disclaimer: I received a free box for an honest review.

This article is from Amy Lu of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

From Beanie Babies to Baubles: 5 Unconventional Investments

Michael Kling — Mon, 17 Dec 2012 10:48:37 +0000

If you're bored with stocks and bonds and seeking a taste of the exotic, you might be interested in unconventional investments.

Unconventional investments can help protect you against stock market volatility because they don't drop — and might even rise — when stocks sink. At least that's the theory, anyway. And if you're lucky or savvy, an alternative investment can produce an outsize return.

On the other hand, many unconventional investments are illiquid — you can't quickly sell them for quick cash. Many are risky and difficult for ordinary folks to understand. For that reason, it's best to allot only a small part of your savings to unconventional investments and to carefully analyze potential risks.

Here's six top unconventional investments. (See also: 7 Great Investments for First-Timers)

1. Collectibles

If you buy collectibles, you can invest in something you love and understand. But you might end up owning a lot of stuff and not really making money. Knowing how much someone will pay for a collectible several years from now is hard to predict. Consumers are fickle and fashions change. What's a hot collectible now may latter be just another yard sale item. Remember Cabbage Patch kids?

If you want to invest in collectibles, say wine, stamps, or baseball cards, buy only what you understand well — ideally what you're expert in. Try to be realistic about how much an item will sell for in the future.

The danger of collectibles is that they can be stolen, lost, or destroyed. You might consider insurance or a safe deposit box, but those costs diminish your profit. Owning artwork you hope to sell for a gain may end up costing money.

2. Jewelry

Some jewelry owners do make great profits reselling jewelry, but they're experts selling very high-quality gems. Most jewelry appreciates very little or nothing at all. Even though gold has increased greatly in years, you might not get as much as you hope when selling gold jewelry. Buyers take a sizeable cut, and the price is based on the jewelry's gold content, which may be lower than you expect. Most people, experts warn, should buy jewelry for its beauty and avoid it as an investment.

Some people argue that jewelry and collectibles are not real investments, as they don't make money for you while you own them — what's called an internal rate of return. A condo can generate rent. Stocks can generate dividends. But a diamond just sits there looking pretty until you sell it.

3. Precious Minerals

How about some uranium or palladium? You can invest in almost anything by owning a specialized exchange traded fund (ETF). Like mutual funds, ETFs are baskets of assets but can be traded throughout the day like stocks. Typically tracking an index, ETFs can hold anything from biotech firm stocks to utilities to currencies to bonds from small countries you can't pronounce. Some are even designed to increase in value when stock markets fall. They can track gold, silver, platinum, natural gas, oil, or uranium to name a few, as well as baskets of different precious metals.

While ETFs, which boast low costs and tax efficiency, have plenty of supporters, critics say they more like speculating than investing, have high trading costs, and don't offer diversification.

4. Frontier Investing

If you're fearless as Davy Crocket, you might consider investing in frontier markets — countries like Romania, Kenya, or Pakistan. Don't laugh. Not too long most people thought buying shares of companies in Brazil, Russia, India, and China was dangerous, but those who did garnered robust returns and now investing is those countries, the so-called BRICs, is considered quite normal. Countries like Columbia and Vietnam, often blessed with a growing middle class, may soon graduate from the frontier and into a group with catchy acronym.

Rather than traveling to Tanzania or Indonesia yourself, you can put money into a mutual fund or ETF specializing in frontier markets.

Real estate investment trusts, or REITs, own commercial properties like office buildings and shopping centers and pay dividends based on rents they collect. As their name indicates, non-exchange traded or non-traded REITs are not traded on stock markets. They are supposed to be more stable than publicly traded REITs because their values don't gyrate with the stock market, and they are not hurt by interest rate swings because rents they get are set for years.

However, financial regulators warn that their shares are illiquid and can't be easily traded. They are more difficult to value, and fees for selling can diminish your returns. Money you think you're getting as a distribution may actually be funds the REIT is borrowing or your principal being returned. Make sure you do your homework, and read its prospectus and its SEC filings to avoid being burned.

5. Peer-to-Peer Lending

In peer-to-peer, also called person-to-person or social lending, you lend money to other people through websites, such as Prosper or Lending Club. Instead of lending to a government by investing in bonds, you lend to other people by investing in online listings. You review their criteria like debt-to-income ratios and credit scores, pick loans to your liking, decide how much of the loan you'll fund, and then get part of the monthly payment after the online intermediary takes its portion.

P2P networks say they provide investors better returns than typical fixed-income investments and less volatility than stocks. That depends if borrowers you pick repay their loans.

Lending to strangers, some with imperfect credit histories, is certainly risky. Tips: Spread loans around to many different borrowers, start slowing by initially lending only to the highest-rated borrowers, and don't expect to P2P lending to be a main income source.

This article is from Michael Kling of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

15 Alternative Uses for Nail Polish

Mikey Rox — Fri, 23 Mar 2012 10:24:07 +0000

Remember that time you glued your fingers together with Super Glue? Don’t be embarrassed — we’ve all done it at least once. What did your mom tell you she needed? Nail polish remover, right? And you were probably like, that’s not gonna work. Except it did.

Before there was nail polish remover, however, there was nail polish — a predecessor of multifunctional proportions. What, pray tell, can a tiny bottle of liquid paint do besides make millions of women (and some men) feel beautiful? You may be surprised. (See also: 51 Uses for Coca-Cola: The Ultimate List)

1. Seal an Envelope

You know when you seal an envelope but realize you forgot to sign the check or left something out all together? You can still open it without tearing the envelope immediately after licking it, but it’s hard to reseal it again with another lick; by now the glue has transferred to the other side. Instead of throwing it away and grabbing a new envelope, brush clear nail polish on the flap to seal it even better than before.

2. Prevent Rusty Screws

If you have hardware (screws, bolts, etc.) in damp places — like the bathroom, for instance — coat them with clear polish to prevent them from rusting.

3. Repair Frayed Laces

Don’t you hate when shoelaces become frayed at the end? They’re still perfecting useful but look like a mess. Dip the ends in clear nail polish, roll them between your fingers, and let the laces dry overnight.

4. Stiffen Thread

I don’t sew because it’s really annoying (seriously, it makes me feel like a pilgrim), but if this is one of your hobbies, you can thread a needle more easily if you dip the end in nail polish. The polish will stiffen the end, making it a breeze to pull through the eye.

5. Stop a Pantyhose Run

I’ll admit that I’ve worn tights before — for Halloween — but I can’t say I’ve ever put on a pair of pantyhose. I know for a fact, however (I’ve got a mom, ya know), that a dab of clear nail polish on a stocking run will prevent it from going any further.

6. Prepare Smudge-Proof Labels

If you’re making labels for your garden out of Popsicle sticks or even old silverware, you can prevent the marker ink from being ruined by the elements by coating the area with clear nail polish.

7. Ward Off Tarnish on Cheap Jewelry

Note that this says cheap jewelry! If you have costume jewelry, make it last longer by brushing it with clear nail polish to prevent tarnishing. Do not use nail polish on valuable jewelry; you will ruin it.

8. Color-Code Keys

All your keys look the same? Differentiate them by painting the tops of each key a separate color. This is great to help kids remember which key is which.

9. Use as a Band-Aid

When you’ve got a small cut — paper cut, hangnail, or other minute scratch — and you can’t find a Band-Aid, use clear nail polish as an alternative adhesive. Nail polish is nontoxic, and it works nearly the same as more expensive liquid adhesives.

10. Heal a Wart

This might sound hard to believe, but it’s true. You can heal a plantar wart by covering it with nail polish. It works because the wart needs oxygen to live, but the nail polish prevents it from getting any. Just be sure to throw out that bottle when you’re done. You don’t want to spread the germs.

11. Protect Pearl Buttons

Pearl buttons are beautiful — and they can be pricey. Make them last as long as possible by brushing them with clear nail polish. A thin coat will keep them from cracking or chipping.

12. Plug a Small Hole

Whether it’s a small leak or a tiny hole in your door or window screen, nail polish has the heavy-duty power to keep in the stuff you want in and keep out the stuff you want out. If your cooler has sprung a small leak, seal it with nail polish. Likewise, if there’s a small hole in your screen and you want to keep the bugs at bay, brush the area with nail polish.

13. Mark Poisonous Products

When I was a kid, my school gave us Mr. Yuck stickers to take home to our parents so they could label all the products that would essentially kill us. I’m not sure if that program is still intact, or even if it was nationwide, but a big X in red nail polish on toxic chemicals will do the same job.

14. Make Objects Glow in the Dark

Can’t see the buttons on the remote when the lights are out? Have a hard time finding the light switch when you come in at night? To make these objects — and lots more — glow in the dark, paint them with luminescent nail polish.

15. Touch Up Chipped Glass

If you have a mirror (or any glass, for that matter) that has a chipped corner, prevent a future cut by brushing the corner with nail polish to create a smoother surface.

Have even more ways to use nail polish around the house? Let me know in the comments below.

This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Sell Gold Without Getting Ripped Off

Carrie Kirby — Fri, 02 Sep 2011 09:48:19 +0000

The price of gold has reached heady heights — high enough to make many of us remember that tacky old bracelet or single earring at the bottom of our jewelry boxes. Gold buyers are promising "top dollar" everywhere. But selling gold is one of those situations that pits the novice — you — against the expert — the buyer. How do you make sure you're not being taken advantage of?

Since I'm no expert myself (I don't think I own any gold besides my wedding and engagement rings, and those aren't going anywhere), I turned to Helena Krodel of the Jewelry Information Center, part of the Jewelers of America trade association. She shared some helpful gold-selling tips from the jewelry industry's perspective. Before we get to her advice on how to sell gold, let me point out that although the neighborhood jewelry shop is probably the most convenient place to cash in, jewelers aren't the only ones buying. (See also: How to Insure Jewelry for Cheap)

If you are willing to do a little more legwork, you can probably get a better price by selling directly to a gold refiner. Refiners offer up to 95% of the current gold price for the gold content of your items, while jewelry stores tend to top out at 85%.

Before selling to anyone, please check out warnings such as Paul Michael's post about Cash4Gold and the Better Business Bureau's tips to avoid rip-offs.

Carrie Kirby: How can would-be sellers distinguish between reputable gold buyers and non-reputable ones?

Helena Krodel: Just as you would shop at a reputable jeweler, one should SELL to a reputable jeweler. Reputable jewelers will give you fair market value for your gold and be open and honest throughout the process of selling. We recommend shopping and selling at jewelry store that is a member of a professional trade association, like Jewelers of America. Members are asked to sign a Code of Professional Practices, thereby ensuring you are going to get what you pay for.

CK: Even among reputable businesses, will certain kinds of businesses pay more for gold? For instance, should I seek out a bulk scrap gold buyer instead of a jewelry store?

HK: There is no rule here. Different companies will pay different amounts. The best thing to do is to go to several different places and ask. If you decide to leave your gold with the company or person, be sure to get a receipt detailing the item. Also ask if they are selling it off site. This typically means they are the middle man and can be charging a surcharge for the service.

CK: What process should I go through before determining where to sell my gold? Should I get estimates from more than one place?

HK: Yes! Always shop around. Online companies are popping up everywhere. If you decide to sell online, beware! Be sure to call the company and speak to a real person. Ask the same questions you would in a store. And do not send your jewelry blindly without the option to get it back should they give you a price that is less that market value.

CK: I understand that buyers will not pay 100% of the day's price for gold, even if what I have to sell is 24 karat, because they need to melt it down and still make a profit. What percent of the day's price could I expect to get?

HK: Every (retailer) is obviously different, but you should expect to get 75 to 85% of the percent of gold in the piece. So if it is 14K gold, the amount of gold in the piece is 58.5%. The 75-85% given is based on that amount.

CK: When I called a local jeweler to ask what percent of the daily price they pay, they declined to give a price over the phone. Is this normal?

HK: Perhaps. Given that it is a competitive market, therefore some jewelry stores may not opt to disclose this information.

CK: Is there any type of gold seller that I should completely avoid, such as mail-in or pawn shop?

HK: Mail-in companies have been known to veil very low returns when buying back gold from consumers. Not all, but many charge a premium for the convenience to you the customer. Jewelry parties are suspect as well. If you decide to partake, be sure to do some research on the company or person hosting the party to find out about their credentials as well as their policy in case you have seller’s remorse. Some like the entertainment factor, however, there are better ways to yield higher paychecks.

CK: What kinds of items should be appraised independent of their scrap gold value?

HK: Remember that jewelry is something that is typically passed down for generations. It also typically has a sentimental worth and value. A quick buck can result in seller’s remorse unless you go your homework. Never sell a piece of jewelry that has intrinsic or emotional value. Never sell a piece of jewelry without removing the gemstones. You will typically get nothing “extra” for side stones or bejeweled settings if they are small. If the piece of gold jewelry is signed or has a trademark, noting the manufacturer who made the piece, be sure to investigate. If you have any reason to think that the piece might have more value as a jewelry item than scrap, be sure to get an appraisal. They typically cost less than $100.

There you have it. Always shop around; the higher gold goes, the higher the potential cost of not doing your homework. Look at it this way — as of this writing, pure gold is selling for $1,827 an ounce. Say you have several old necklaces and rings that contain one half an ounce of 24 karat gold; this would be worth $913.50 on the market. If the first jewelry store you visit offers 75% of market value, you'll get a check for $685 and walk out feeling great. Then you find out that your cousin sold the same amount of gold to a jewelry store a few blocks away that was paying 85% and netted $776. Oh well — at least you feel better than your other cousin who handed over his jewelry to a dealer who paid 50% — she only got $457.

It all boils down to how much gold you have to sell and how much your time is worth. Going to three different stores for estimates might take an hour or two — researching reputable refiners might take longer. Would you spend a few hours to net an extra $100? What about an extra $1,000?

You make the call.

This article is from Carrie Kirby of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Clean Silver Naturally

Camilla Cheung — Tue, 28 Jun 2011 10:25:19 +0000

Part of the fun of shopping at thrift stores and estate sales is that I almost always find a beautiful piece of vintage silverware that is black with tarnish but just waiting for a little cleaning to reveal the diamond in the rough underneath! From vintage silver platters and bowls to candlesticks, coasters, and coffeepots, there are so many heirloom silver items out there waiting to be discovered. But how do you restore silver items to their former shining glory? (See also: Tips for Shopping at Estate Sales)

Commercial silver cleaners are cheap, but they tend to be filled with harsh chemicals that I prefer not to use around the house. Fortunately there is a way to safely clean silver using common household products that you have in your pantry right now.

Cleaning Silver With Aluminum Foil and Baking Soda

Hurray for baking soda! It is such a heavyweight when it comes to uses around the home. This method of cleaning silver works wonders even for heavily tarnished pieces as long as they can stand up to a little heat.

First, bring a large pot of water to the boil on the stovetop. Make sure that the pot is large enough to fit all of your tarnished silver items. Don’t overfill the pot (leave at least two inches of space at the top).
When the water boils, remove the pot from the heat. Place a piece of aluminum foil into the bottom of your pot, and place your silver items on top, immersed in the boiling water. Start shaking baking soda into the pot. It will foam and bubble, and you’ll notice a sulfuric smell, like rotten eggs.
The chemical reaction will (almost magically) remove the tarnish from your silver, as the tarnish will become attracted to the aluminum foil instead of your silver piece. Keep sprinkling in more baking soda until your silver is shiny and clean or until the liquid no longer foams.

The water has to be really hot for this to be effective, but if you do it correctly, it works like a charm on tarnished silver. I’ve actually found this to be the best method for removing tarnish from vintage silver, as it is more effective than many silver polishes I have used. It even gets into the nooks and crannies where you wouldn’t be able to hand-polish the tarnish away.

Once the tarnish is gone, wash the silver with gentle soap and water to remove the rest of the baking soda. If there are a few spots of tarnish left, they should wash off when rubbed gently with a soft cloth.

If you have silver jewelry set with gemstones, I would hesitate to use this method, as it may cause damage to some gemstones. You might want to take your jewelry to a professional jeweler to have it cleaned. However, this method works well for silver platters, flatware, bowls, chains, serveware, and many other silver or silver-plated items.

Be Wary of Abrasive Methods

Many articles on the Internet recommend scrubbing your silver pieces with toothpaste, table salt, or baking soda. The reason toothpaste, salt, and baking soda work is because they are abrasives, but while they may scrub away the tarnish, they are also rubbing scratches into your silver, and in the case of silver-plated items, they may start to wear away the silver finish entirely, exposing the base metal.

Nevertheless, I have been guilty of using a baking soda/water paste to clean a few inexpensive pieces of silver jewelry. While professional silversmiths might be horrified, I find that it is worth it to me to have a clean piece of jewelry that I will actually wear rather than a tarnished-but-undamaged piece that sits in my drawer for years.

Antique silver plate and good-quality silver jewelry may lose much of its value if cleaned improperly. If you have a valuable silver piece and you are in doubt as to how to clean it, it may be best to bring it to a professional.

How do you usually clean your silver? Which method is the most effective?

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This article is from Camilla Cheung of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Insure Jewelry for Cheap (or Free!)

Daniel Packer — Mon, 30 May 2011 10:24:11 +0000

I won't won't tell you the whole story of how I proposed to my future wife, but with the ring came another expense — jewelry insurance. We wanted to make sure that if it was lost, stolen, or damaged considerably, that we would only be responsible for a fraction of the cost. (See also: Classy Weddings on the Cheap)

I didn't do my research at the time because I was in a rush to get some sort of insurance for it, and now it looks like there are some fantastic options that I passed up. After doing a lot of research, it turns out that jewelry insurance is fairly inexpensive, and in some cases you can get it for free!

There are two ways to insure a piece of jewelry. You can either go to a company that sells specific jewelry insurance, or you can have the piece of jewelry added to a homeowners or renters insurance policy.

If you choose to go with the jewelry-specific option, your choices are limited. There aren't many companies out there that provide personal jewelry insurance, but Jewelers Mutual is the most popular.

Private Jewelry Insurance

As a general rule, you can expect to pay between $1 and $2 for every $100 worth of jewelry you want insured. So a $10,000 engagement ring would cost between $100 and $200 per year. These prices change significantly based on location (in Washington, DC, for example, it would cost $105 per year to insure a ring of that price, but in Los Angeles, the same ring would cost $200 per year to insure).

It's important to review the insurance policy before buying because not everything will be covered. Wear and tear are typically not part of the policy, and a defect in the jewelry wouldn't be covered either (that would have to be taken care of by the jeweler who created it).

Insuring Jewelry With Homeowners or Renters Insurance

The second option is having jewelry added to a homeowners or renters policy. This is probably the cheapest way to go if it's available. Why? While each state has its own rules, a renters policy has to have a minimum amount of coverage, typically $15,000 to $20,000. If the contents of your belongings don't add up to $20,000, then you have some space left over. Let's use an example. If you have $5,000 worth of valuables at home, buy a ring for $10,000, and add it to the renters insurance policy, you'll still be within your limit, and the ring would be covered should something terrible happen.

Which Option Is Better?

If you have renters or homeowners insurance and have the option to add a piece of jewelry onto the policy at no cost, that's definitely the best option! If you don't have renters or homeowners insurance and are deciding between that and private jewelry insurance, take a look at rates for both. It never hurts to compare, and when I looked online for renters insurance rates (just a few days ago because I was curious) in Washington, DC, a $15,000 policy cost just $81 per year. Online I found varying rates (as high as $131 for $20,000 worth of coverage), so comparison shopping is the way to go!

Right now, the ring I bought is insured with a private insurer, but it looks like it's time for me reconsider!

Is your jewelry insured?

This article is from Daniel Packer of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread: