I had an Mechanical Breakdown Insurance through Carchex on my son's 2006 Nissan Maxima. Carchex calls its an extended warranty on their website. I've had the warranty about 5 months. The total cost is about $1,600 and I pay a company named MEPCO, a monthly payment of around $88 for 18 months. The MBI is good for 100,000 miles or 5 years from the time I bought the policy. It is transferrable.
Three weeks ago, the transmission in my son's vehicle went out. The vehicle had 78,000 miles on it. I was not happy about this. I googled this and found out Nissan is having issues with 2004-06 Maxima transmissions. I took the vehicle to my favorite repair shop in Plano, TX....Tidwell's automotive. They work with MIB claims frequently. They did the paperwork. Now it took longer than I felt necessary to get the claim approved. However, there was a caveat on the part of the MIB company. The person responsible for working the claim had a death in the family and the claim was turned over to someone else for review and processing. The insurance company sent someone out to look at the transmission after it was removed from the vehicle. Due to the cost ($4,300), the claim had to be approved by management. However, the claim was approved and the vehicle repaired. The vehicle had the transmission overhauled and the control module assembly replaced. My deductible was $100. Beats the heck out of that $4,300.
My recommendation is:
1. Find a garage that accepts and handles MIB claims.
2. Make sure the MIB company has back up insurance to pay your claim.
3. Call the company and see how long it takes to answer your call.
4. Read the fine print in the contract. Especially the part about maintaining the vehicle and keeping records.
I have been pleased. It worked out well for me. Good luck.
While I certainly understand that saving early is "harder" in that even small percentages have a larger lifestyle impact, resepectfully, you are taking the anecdotal evidence of your personal situation and assuming this will work out for everyone. As a CFP, I have been working with clients for many years (as well as being director of a university CFP Board registered financial planning program) and it is precisely BECAUSE people have waited to really start saving that they are woefully unprepared for retirement. At first it is pots and pans and iPhones and student loans, then it is weddings and children, then it is upgrades to the house, then it is college for the kids and then, boom, retirement! All along this was likely coupled with yo-yo management of consumer debt. Finally, things may settle down and they can up their savings rate but by that point they will have very likely torpedoed the most important portion of the future value equation: FV=PV(1+i)^n. N being the number of compounding periods...the only exponential part of that equation! I know you are not saying to forego saving altogether, but it is phenomenal what even nominal amounts deposited today will be worth with more "n's." And the higher those deposits, the more powerful those "n's" become.
Additionally, your first stated reason to delay serious saving is highly problematic. Your statement that current interest rates being near or at zero completely ignores that proper saving early on involves dollar-cost-averaging into an equities-heavy portfolio and even if RIGHT NOW rates aren't terribly attractive, history paints vivid pictures of times like now being absolutely IDEAL to be planting as many retirement seeds as possible!
I hate to be the guy pulling credentials near the beginning of the post but this is a VERY sensitive area for me. Any advice giving anyone the impression that it is okay for them to be "actively neglectful" of their retirement saving early on puts my back up and I feel the need to come out guns blazing.
Wow, I didn't realise a lot of that, especially the water part, I think that for me is the most shocking aspect. I think I am going to stop drinking soda now.
One other way to prevent giving scammed cards- use your favorite charity's scrip program. These programs sell gift cards (usually from a secure provider) and a portion of the sale goes to the charity, while the gift card retains all of its value.
Thanks for the heads-up about cards on store racks!
My favorite present ever was a leather coat which my parents convinced me was a pair of boots, which was by far my second choice. The packaging and wrapping were confusing, but my delight was clear!
I had a slightly different situation with an electronic gift certificate. I got an electronic $100+ gift certificate/card for CVS which can only be printed and used in-store. Can't even use it online. Went to use it on Black Friday and it was down to $0. I checked the balance online and it had been used in Colorado (I'm in FL) just two days prior. I had to call several times but they did give me a new gift card. I can only think that there was some internal mix-up or fraud happening in that case. How else could someone have gotten the number? I didn't even print it until the same day I tried to use it.
I didn't know this was possible, but it may have happened to me. We were given a gift card for a turkey for troops thing, and when I went to redeem it there was nothing on it. It still could have just been an indian giver though.
Discover, the card I use [and the stock of whose issuing parent, Discover Financial Services, I recommend you consider for purchase] offers 1% cash bonus on just about everything. I put our Travelers flood Insurance, car maintenance, employer paid seminar travel and attendance, charitable donations...everything I can onto this card. Of course, I carry zero balance; we don’t buy what we cannot afford to purchase for cash.
Of course, cash-back bonus notwithstanding, there is absolutely no future whatever in spending money but a rather splendid one in saving and investing it. Buy stocks, not junk at malls; don't run up bar room and restaurant tabs. Let others do that while you buy the stocks of the companies that sell them the things they really don't need but buy anyway. You can get rich doing just what I have told you and you can have the money to live very, very comfortably without worrying. You'll get to the Royal Hawaiian Hotel, but not on credit and what’s great is that the rest of society will pay the bill. Good Luck.
While I certainly understand that saving early is "harder" in that even small percentages have a larger lifestyle impact, resepectfully, you are taking the anecdotal evidence of your personal situation and assuming this will work out for everyone. As a CFP, I have been working with clients for many years (as well as being director of a university CFP Board registered financial planning program) and it is precisely BECAUSE people have waited to really start saving that they are woefully unprepared for retirement. At first it is pots and pans and iPhones and student loans, then it is weddings and children, then it is upgrades to the house, then it is college for the kids and then, boom, retirement! All along this was likely coupled with yo-yo management of consumer debt. Finally, things may settle down and they can up their savings rate but by that point they will have very likely torpedoed the most important portion of the future value equation: FV=PV(1+i)^n. N being the number of compounding periods...the only exponential part of that equation! I know you are not saying to forego saving altogether, but it is phenomenal what even nominal amounts deposited today will be worth with more "n's." And the higher those deposits, the more powerful those "n's" become.
Additionally, your first stated reason to delay serious saving is highly problematic. Your statement that current interest rates being near or at zero completely ignores that proper saving early on involves dollar-cost-averaging into an equities-heavy portfolio and even if RIGHT NOW rates aren't terribly attractive, history paints vivid pictures of times like now being absolutely IDEAL to be planting as many retirement seeds as possible!
I hate to be the guy pulling credentials near the beginning of the post but this is a VERY sensitive area for me. Any advice giving anyone he impression that it is okay for them to be "actively neglectful" of their retirement saving early on puts my back up and I feel the need to come out guns blazing.
As far as I'm concerned, to be frugal doesn't mean save every penny and to be mean. I n fact, it does mean to live a happy, healthy and easy life with an active attitude. I think I am a frugal girl. I cook food for families and we enjoy our meals together. I only shop things I need and take advantage of all resources,such as finding discount info. from local newspaper or magezines, collecting coupons & deals from dependable sites like famous RetailMeNot.com or rising-star CouponSnapshot.com, etc. I make gifts by myself for families. All the things I do is meaningful and I appreciate the time I spend with my family. So, to be frugal,but not cheap!
I'm completely addicted to Coke. It use to be fountain Cokes, specifically McDonald's but I have "branched out" to canned Coke now. I need to quit. It's ridiculous how much I need it. I use to be a water only drinker. I need to get back to that for both my health and my budget!
Excellent points. I gave up soda 7 years ago and don't miss it at all. When I want a cold beverage I go for unsweetened iced tea or water. I eat enough sugar as it is, I don't need to drink sugar too.
I had an Mechanical Breakdown Insurance through Carchex on my son's 2006 Nissan Maxima. Carchex calls its an extended warranty on their website. I've had the warranty about 5 months. The total cost is about $1,600 and I pay a company named MEPCO, a monthly payment of around $88 for 18 months. The MBI is good for 100,000 miles or 5 years from the time I bought the policy. It is transferrable.
Three weeks ago, the transmission in my son's vehicle went out. The vehicle had 78,000 miles on it. I was not happy about this. I googled this and found out Nissan is having issues with 2004-06 Maxima transmissions. I took the vehicle to my favorite repair shop in Plano, TX....Tidwell's automotive. They work with MIB claims frequently. They did the paperwork. Now it took longer than I felt necessary to get the claim approved. However, there was a caveat on the part of the MIB company. The person responsible for working the claim had a death in the family and the claim was turned over to someone else for review and processing. The insurance company sent someone out to look at the transmission after it was removed from the vehicle. Due to the cost ($4,300), the claim had to be approved by management. However, the claim was approved and the vehicle repaired. The vehicle had the transmission overhauled and the control module assembly replaced. My deductible was $100. Beats the heck out of that $4,300.
My recommendation is:
1. Find a garage that accepts and handles MIB claims.
2. Make sure the MIB company has back up insurance to pay your claim.
3. Call the company and see how long it takes to answer your call.
4. Read the fine print in the contract. Especially the part about maintaining the vehicle and keeping records.
I have been pleased. It worked out well for me. Good luck.
That sounds like an awesome proposal! :)
That's a thoughtful and original gift!
Cute!!!
Now THAT is a great gift!!!
Awww, that's one of the sweetest things I've ever heard. :)
You are welcome! Happy Holidays to you too! :-)
Heehee -- the Clueless reference made me chuckle.
I'm not surprised about the SUV thing -- I think a used sedan is definitely the way to go. Although my first car was my family's old dodge caravan.
That was the main thought going through my head as I read this. Is Coke really suppose to be a drink?...
While I certainly understand that saving early is "harder" in that even small percentages have a larger lifestyle impact, resepectfully, you are taking the anecdotal evidence of your personal situation and assuming this will work out for everyone. As a CFP, I have been working with clients for many years (as well as being director of a university CFP Board registered financial planning program) and it is precisely BECAUSE people have waited to really start saving that they are woefully unprepared for retirement. At first it is pots and pans and iPhones and student loans, then it is weddings and children, then it is upgrades to the house, then it is college for the kids and then, boom, retirement! All along this was likely coupled with yo-yo management of consumer debt. Finally, things may settle down and they can up their savings rate but by that point they will have very likely torpedoed the most important portion of the future value equation: FV=PV(1+i)^n. N being the number of compounding periods...the only exponential part of that equation! I know you are not saying to forego saving altogether, but it is phenomenal what even nominal amounts deposited today will be worth with more "n's." And the higher those deposits, the more powerful those "n's" become.
Additionally, your first stated reason to delay serious saving is highly problematic. Your statement that current interest rates being near or at zero completely ignores that proper saving early on involves dollar-cost-averaging into an equities-heavy portfolio and even if RIGHT NOW rates aren't terribly attractive, history paints vivid pictures of times like now being absolutely IDEAL to be planting as many retirement seeds as possible!
I hate to be the guy pulling credentials near the beginning of the post but this is a VERY sensitive area for me. Any advice giving anyone the impression that it is okay for them to be "actively neglectful" of their retirement saving early on puts my back up and I feel the need to come out guns blazing.
Sorry, but five minutes was the "cut off" (that's a little body dismemberment humor there for you).
Wow, I didn't realise a lot of that, especially the water part, I think that for me is the most shocking aspect. I think I am going to stop drinking soda now.
Thanks for including my article Ashley :) Hope you guys have happy holidays!
One other way to prevent giving scammed cards- use your favorite charity's scrip program. These programs sell gift cards (usually from a secure provider) and a portion of the sale goes to the charity, while the gift card retains all of its value.
Thanks for the heads-up about cards on store racks!
My favorite present ever was a leather coat which my parents convinced me was a pair of boots, which was by far my second choice. The packaging and wrapping were confusing, but my delight was clear!
Don't forget 7-Minute Abs: http://www.youtube.com/watch?v=QeHVYuRnIjY
I had a slightly different situation with an electronic gift certificate. I got an electronic $100+ gift certificate/card for CVS which can only be printed and used in-store. Can't even use it online. Went to use it on Black Friday and it was down to $0. I checked the balance online and it had been used in Colorado (I'm in FL) just two days prior. I had to call several times but they did give me a new gift card. I can only think that there was some internal mix-up or fraud happening in that case. How else could someone have gotten the number? I didn't even print it until the same day I tried to use it.
I didn't know this was possible, but it may have happened to me. We were given a gift card for a turkey for troops thing, and when I went to redeem it there was nothing on it. It still could have just been an indian giver though.
Discover, the card I use [and the stock of whose issuing parent, Discover Financial Services, I recommend you consider for purchase] offers 1% cash bonus on just about everything. I put our Travelers flood Insurance, car maintenance, employer paid seminar travel and attendance, charitable donations...everything I can onto this card. Of course, I carry zero balance; we don’t buy what we cannot afford to purchase for cash.
Of course, cash-back bonus notwithstanding, there is absolutely no future whatever in spending money but a rather splendid one in saving and investing it. Buy stocks, not junk at malls; don't run up bar room and restaurant tabs. Let others do that while you buy the stocks of the companies that sell them the things they really don't need but buy anyway. You can get rich doing just what I have told you and you can have the money to live very, very comfortably without worrying. You'll get to the Royal Hawaiian Hotel, but not on credit and what’s great is that the rest of society will pay the bill. Good Luck.
Carbonated beverages are still bad for your teeth. Carbonated water hurts your hearth as opposed to flat water. Look it up.
While I certainly understand that saving early is "harder" in that even small percentages have a larger lifestyle impact, resepectfully, you are taking the anecdotal evidence of your personal situation and assuming this will work out for everyone. As a CFP, I have been working with clients for many years (as well as being director of a university CFP Board registered financial planning program) and it is precisely BECAUSE people have waited to really start saving that they are woefully unprepared for retirement. At first it is pots and pans and iPhones and student loans, then it is weddings and children, then it is upgrades to the house, then it is college for the kids and then, boom, retirement! All along this was likely coupled with yo-yo management of consumer debt. Finally, things may settle down and they can up their savings rate but by that point they will have very likely torpedoed the most important portion of the future value equation: FV=PV(1+i)^n. N being the number of compounding periods...the only exponential part of that equation! I know you are not saying to forego saving altogether, but it is phenomenal what even nominal amounts deposited today will be worth with more "n's." And the higher those deposits, the more powerful those "n's" become.
Additionally, your first stated reason to delay serious saving is highly problematic. Your statement that current interest rates being near or at zero completely ignores that proper saving early on involves dollar-cost-averaging into an equities-heavy portfolio and even if RIGHT NOW rates aren't terribly attractive, history paints vivid pictures of times like now being absolutely IDEAL to be planting as many retirement seeds as possible!
I hate to be the guy pulling credentials near the beginning of the post but this is a VERY sensitive area for me. Any advice giving anyone he impression that it is okay for them to be "actively neglectful" of their retirement saving early on puts my back up and I feel the need to come out guns blazing.
As far as I'm concerned, to be frugal doesn't mean save every penny and to be mean. I n fact, it does mean to live a happy, healthy and easy life with an active attitude. I think I am a frugal girl. I cook food for families and we enjoy our meals together. I only shop things I need and take advantage of all resources,such as finding discount info. from local newspaper or magezines, collecting coupons & deals from dependable sites like famous RetailMeNot.com or rising-star CouponSnapshot.com, etc. I make gifts by myself for families. All the things I do is meaningful and I appreciate the time I spend with my family. So, to be frugal,but not cheap!
I'm completely addicted to Coke. It use to be fountain Cokes, specifically McDonald's but I have "branched out" to canned Coke now. I need to quit. It's ridiculous how much I need it. I use to be a water only drinker. I need to get back to that for both my health and my budget!
Inherrited some money that was hidden in a safe, can I pay some debt off with it
without questions asked?
Excellent points. I gave up soda 7 years ago and don't miss it at all. When I want a cold beverage I go for unsweetened iced tea or water. I eat enough sugar as it is, I don't need to drink sugar too.