I don't rebate, but my grandmother did. She had the most awesome way of doing it, too.
She'd file for rebates, and all the rebate cash would go into a cigar box. On Christmas Eve, my cousins and I would split the year's proceeds four ways. It was never a huge amount of money, but it was really fun for us to count and share.
I don't know if I'd buy anything where I felt the item was overpriced if the rebate never came through -- I look at them as a bonus.
I try to avoid rebating if possible. I know that I'll submit the rebate stuff, but then it gets complicated. You have to make sure that you actually get the rebate and then go to the bank and cash it. The second part is the too much effort part.
This "real estate is a crappy investment let's buy stock" argument is the same flawed argument I rejected when my MBA-brainwashed husband tried to convince me to not use the proceeds from MY (pre-marital) vacation home to pay down the mortgage on our main house.
THANK GOD I had the "buy a house and pay it off" mantra pounded into me by my grandparents who raised me and used MY money as I saw fit ... to pay down the mortgage ... and NOT to buy stock!
Then the economy tanked, the stocks are in the toilet, but we live in a house we can afford even if one of us loses our job, our fixed mortgage interest rate is low and will be paid off within 15 years (not 30), and it doesn't cost us much more to own than to RENT a comparable house.
Try living in your stock portfolio ... or retiring and paying rent on a social security stipend. It doesn't work.
I think where Americans went wrong wasn't INVESTING in their own homes in the first place, it was buying into the whole "real estate will only go up" and "keep refinancing it and buying stock" garbage the bankers/economists/MBA drones were promoting.
Yes, if I am buying the product that has a rebate or if I see something that I can use that has it. I am not going to buy diapers just to get the rebate because I don't have a baby.
One of my kids has severe ADHD and is able to keep her medication dosage around 15% lower than otherwise needed by avoiding the carbo-salt-fat laden school lunches and packing our own. She has to get 12-15 grams of protein (usually a combination of animal, dairy and vegetable proteins) at each meal, while most school lunches fall far short. We pack 3 oz of cooked leftover or deli meat (such as ham, chicken, etc), a second protein such as a cheese stick, 8 oz milk in one of those nice little Rubbermaid reusable juicebox style containers, and a 1/2 cup container of sliced fresh fruit such as apples or oranges. We pack the same meals for the other kids now, too, and have noticed an improvement in their concentration even though they don't have ADHD.
Hi,
Rebates are worth the small amount of time it takes to apply for them. It costs nothing and it is very differcult to obtain a small reward at no cost in any other manner.
Al
I have enjoyed checking back here from time to time to check on the quality of the questions. that said, Most of the questions have nothing to do with the original post and those questions don't qualify for a response....... My .02
Thanks and it works well with some cornmeal added to kick it up a notch.
It really depends on what the item is, that will be the deciding factor on whether or not I decide to fill out forms and mail things in for a rebate.
If it's a grocery item, I don't bother. If it's a big ticket item, I'll go ahead and do it. I have had success with the larger purchases and rebates...a monitor purchase, laser eye surgery (kind of a rebate from my insurance company, at least I think of it that way) and my kitchen aide stand mixer purchase come to mind.
Those were all large rebates and were worth it. I know people say every penny counts...but when we're talking about small items and grocery items - the forms you need to fill out, plus the grocery receipt, then you have to mail it in, and chances are you'll forget about it anyway...it's more work than I'm willing to do. Just my 2 cents.
I have to really want the product. But the problem with rebates is that you really have to keep track of them to make sure that you actually receive them. I typically only do rebates for large items like a new phone or my contact lenses.
I do rebate. And I will only do it for 'non needed' items if they end up being free. I love rebating and feeling like I got something for nothing, or pretty close to nothing.
Skype is really an awesome tool for those who are involved in internet work at home business. I had to be online on Skype almost whole day, just to discuss about the business with the clients.
As a renter, I cannot believe you do not carry renter's insurance. The owner of your apartment building carries insurance, but it does not include your personal property if there were to say be a fire.
And technically you do pay property taxes: Each time you have a yearly rent increase this is to adjust to the owner's property tax bill.
You have a big yard and garden. Do you rent a private home? If not, you are sharing that big yard with the other renters. If you are renting a house what happens if it is sold or worse case scenerio, forclosed?
The idea that Vitamin C helps with viral infections dates to Linus Pauling, the Nobel Prize winning chemist. Note he was not a medical doctor nor biologist. Please review this link for information on the Vitamin C myth.
I just finished paying off $16000 in credit debt. We did first make sure we had a $2000 balance in our account at all times to make sure could pay for all bills at any time. But we transferred some balances around then start paying off the high interest ones first. We now just paid off the high interest 12.5% time share of $4k. Since all is left is asset backed loans, we need to build more savings until really start paying off the boat at 8.5%
Good point. My take is that it's reasonable to deal differently with debts that are at low, fixed rates, such as some student loans and mortgages. In that case, it may be reasonable to treat the debt as if it were an expense, and simply plan on paying it off over time, rather than moving more aggressively to get paid off early.
Still, it's worth comparing the rates (adjusted, if necessary, for the tax advantage of mortgage interest).
In particular, don't be fooled by the notion that you're coming out ahead by saving "for retirement" if the rate that you're paying on your debt is higher than the rate you're earning on your savings. It's true that you'll eventually get out of debt, and may have more money in your retirement account if you do that, but neither of those factors means much when viewed in isolation. Your entire portfolio supports all your goals. If, when you finally get your old loans paid off, your total wealth is smaller (because you paid more interest on your old loans than you earned on your savings), you're still coming out behind where you would have been--even if your retirement account is larger. The "years of compounding" apply to everything--not just your retirement savings, but also your non-retirement savings and your debts.
Of course, tax laws make it complex to find the best path--there's the tax advantages of mortgage interest, plus the tax advantages of putting money into retirement savings. (Not to mention a corporate match on your 401(k) contributions, if your employer still does that.)
That Black Friday shopping shouldn't be what it's all about. I am not doing Black friday this year because a special relative that I almost never get to see will be in town for just one day, and spending time with her trumps any shopping. (Plus, to be honest, I've been resourceful with my shopping and have almost everything purchased.)
Taking time to be kind to others is important, as well. But in my area of the country, I have never witnessed the kind of horror stories that others see in their local stores. I usually strike up nice conversations with others in line, chat while waiting outside the stores, and get a chance to know others who have the same frugal ideals as I do.
Maybe it's unique to my community or the stores I shop at, but aside from being a marathon event (store after store), it's always fun. The stores offer free coffee and donuts, the crowds are usually upbeat and cheerful, and the employees are treated respectfully. If I ever see that change, then maybe I'll reconsider my frugal tactics.
(I always see the bell ringers get extra love on the way out of the store on Black Friday, as well. Maybe people feel like they have extra to give since they saved so much?)
Thanks for the comments, folks. The holidays are for family first, but I have to admit that it's rather indulgent to go shopping without my 4 children in tow. It's kind of nice to get out of the house and shop!
I think there are two sides to debt repayment, pay it down and don't get more of it, and would like to outline the strategy I've built based on that.
My wife and I have an emergency fund that doesn't get touched unless we have an unexpected _necessary_ expense (i.e. appliance repair, physio, prescriptions); a good deal on a TV or couch is not a necessary expense. If something causes the balance in the emergency fund to drop bringing it back up becomes the number one priority for the next month. I think an emergency fund is essential because the money for unexpected expenses only comes from one of two places: your savings or your debt. By having a buffer between yourself and everything else you minimize the risk of an emergency forcing you further into debt.
As for debt repayment, I've found the best way is to set up an automatic transfer on the same day you get paid and to put any found money (raises, bonuses, spare change, money saved from lowering a bill) directly onto debt to prevent lifestyle creep. Just make sure you have enough in your emergency fund.
Caroline, thanks for these tips. My kids are teens now, but they've come to narrow their food choices to a very small number of foods.
One of the big plusses of your suggestions is that they're intresting and FUN to prepare. That's an important piece of the nutrition puzzle with kids--getting them interested. Selling them on health benefits is a complete waste of time because it sounds to close to what they're taught in school.
We're going to try a couple of these and get the kids involved in the preparation. That seems to make them like what they eat even more.
andyg8180--that's the point I made in my post link in comment #5.
In order to get out of debt, you first need to replace the credit addiction with something else, and the best alternative is cash.
Once you learn to live on cash, you won't need credit anymore. Until you make that transition, paying off debt is an uphill fight. With a cash cushion, you'll be halfway up the hill before you start the treck.
I loved this post! Finally someone who has not bought in to the idea that buying a house is a good way to amass a nest egg.
I rent and love it. I pay $850 a month for an appartment and could easily rent a house for $300 more a month. I pay $500 for insurance a year. I don't pay for anything else.
I paint my walls, I drill holes, I have a garden and a huge back yard. What I don't have are a mortgage, property taxes, insurance, maintenace, etc.
In my neck of the woods, a $150,000 dollar house equals a total monthly payment of around $1500 a month. Investing the difference, $650 a month, is no doubt a better investment. For all you doubters out there, go to the NY times page and use their calculator. It proves the math time and time again.
For the person above who said that you can't get 5% a year from the market, you are wrong. There are stocks that pay dividends at twice that.
For the other person that said that owning is more secure in retirement, do you expect your maintenance, insurance and property taxes to go away after you finish paying off your house?
Some of the soap for dishes and clothes is not only to get the oil off the clothes but to counteract hard water. I am not an expert on this nor do I fully understand what happened but I was one to use 1/2 the dish detergent and the dishwasher stopped cleaning. We were scared we had broken it and were dreading a service call. After a bit of time with a screw driver, a shop vac, vinegar, a store bought "dishwasher cleaner", a change in detergent brand and using the recommended amount of soap the dishwasher began working properly again. We suspect there was a build up of hard water somewhere due to not using enough detergent. We avoided the service call and replacement this time, we'd prefer to avoid it in the future as well.
Plus my dog started stealing my 'clean' underwear so I decided the clothes must not be as clean as I thought they were getting with less detergent.
I'm not saying don't use less...just be mindful of potential (and potentially more costly) after effects.
(Cool halloween effect is to do handprints of detergent (that has the fluorescent phosphorous) on a sheet or towel then put it under blacklight! Just wash to clean.)
I'm very angry with this company. They definitely do not check information before sending out their cards. While going through our mail yesterday, I noticed a letter for my son. I asked if he knew what netspend was and he told me no. He never heard of it. We opened it and it was this prepaid card. This made me beyond angry. This is due to the fact that my son is a minor. He's not even a teenager yet. When I called the 866 number all I could get was an automated system. I will be trying again.
As for the comment about debit cards and fees. I belong to a credit union and don't get charged any fees for using my debit card. Also, if some of the fees are higher than a bank then why would want this card over a bank card.
As for the post "come on" posted by Mark Root. If your company does a check, they should know if the applicant is a minor or not. I am not saying that my child is an angel. No child is. But for you to say that your company does checks is absurd. If your post is any indication on how your company runs, I and my family definitely don't want anything to do with it. Next time before you post you should do a spell and grammar check.
I believe your nest-egg is your number on priority. YOU should be the most important bill in your stack of bills... Remember, CASH BEATS CREDIT anyday...
so lets say you pay off all your debt today, and you lose your job next week... or lets say your car breaks down and you need a downpayment for a new beater... OORRRR you get dings with an appendectomy...
You need that emergency fund now, and not later... Id rather take the extra year to pay down my debt vs not having any kind of savings...
I don't rebate, but my grandmother did. She had the most awesome way of doing it, too.
She'd file for rebates, and all the rebate cash would go into a cigar box. On Christmas Eve, my cousins and I would split the year's proceeds four ways. It was never a huge amount of money, but it was really fun for us to count and share.
I don't know if I'd buy anything where I felt the item was overpriced if the rebate never came through -- I look at them as a bonus.
I try to avoid rebating if possible. I know that I'll submit the rebate stuff, but then it gets complicated. You have to make sure that you actually get the rebate and then go to the bank and cash it. The second part is the too much effort part.
Harrummmphhh!!!
This "real estate is a crappy investment let's buy stock" argument is the same flawed argument I rejected when my MBA-brainwashed husband tried to convince me to not use the proceeds from MY (pre-marital) vacation home to pay down the mortgage on our main house.
THANK GOD I had the "buy a house and pay it off" mantra pounded into me by my grandparents who raised me and used MY money as I saw fit ... to pay down the mortgage ... and NOT to buy stock!
Then the economy tanked, the stocks are in the toilet, but we live in a house we can afford even if one of us loses our job, our fixed mortgage interest rate is low and will be paid off within 15 years (not 30), and it doesn't cost us much more to own than to RENT a comparable house.
Try living in your stock portfolio ... or retiring and paying rent on a social security stipend. It doesn't work.
I think where Americans went wrong wasn't INVESTING in their own homes in the first place, it was buying into the whole "real estate will only go up" and "keep refinancing it and buying stock" garbage the bankers/economists/MBA drones were promoting.
Yes, if I am buying the product that has a rebate or if I see something that I can use that has it. I am not going to buy diapers just to get the rebate because I don't have a baby.
One of my kids has severe ADHD and is able to keep her medication dosage around 15% lower than otherwise needed by avoiding the carbo-salt-fat laden school lunches and packing our own. She has to get 12-15 grams of protein (usually a combination of animal, dairy and vegetable proteins) at each meal, while most school lunches fall far short. We pack 3 oz of cooked leftover or deli meat (such as ham, chicken, etc), a second protein such as a cheese stick, 8 oz milk in one of those nice little Rubbermaid reusable juicebox style containers, and a 1/2 cup container of sliced fresh fruit such as apples or oranges. We pack the same meals for the other kids now, too, and have noticed an improvement in their concentration even though they don't have ADHD.
Hi,
Rebates are worth the small amount of time it takes to apply for them. It costs nothing and it is very differcult to obtain a small reward at no cost in any other manner.
Al
I have enjoyed checking back here from time to time to check on the quality of the questions. that said, Most of the questions have nothing to do with the original post and those questions don't qualify for a response....... My .02
Thanks and it works well with some cornmeal added to kick it up a notch.
Cheers,
Big Jack
It really depends on what the item is, that will be the deciding factor on whether or not I decide to fill out forms and mail things in for a rebate.
If it's a grocery item, I don't bother. If it's a big ticket item, I'll go ahead and do it. I have had success with the larger purchases and rebates...a monitor purchase, laser eye surgery (kind of a rebate from my insurance company, at least I think of it that way) and my kitchen aide stand mixer purchase come to mind.
Those were all large rebates and were worth it. I know people say every penny counts...but when we're talking about small items and grocery items - the forms you need to fill out, plus the grocery receipt, then you have to mail it in, and chances are you'll forget about it anyway...it's more work than I'm willing to do. Just my 2 cents.
I have to really want the product. But the problem with rebates is that you really have to keep track of them to make sure that you actually receive them. I typically only do rebates for large items like a new phone or my contact lenses.
I do rebate. And I will only do it for 'non needed' items if they end up being free. I love rebating and feeling like I got something for nothing, or pretty close to nothing.
Skype is really an awesome tool for those who are involved in internet work at home business. I had to be online on Skype almost whole day, just to discuss about the business with the clients.
As a renter, I cannot believe you do not carry renter's insurance. The owner of your apartment building carries insurance, but it does not include your personal property if there were to say be a fire.
And technically you do pay property taxes: Each time you have a yearly rent increase this is to adjust to the owner's property tax bill.
You have a big yard and garden. Do you rent a private home? If not, you are sharing that big yard with the other renters. If you are renting a house what happens if it is sold or worse case scenerio, forclosed?
The idea that Vitamin C helps with viral infections dates to Linus Pauling, the Nobel Prize winning chemist. Note he was not a medical doctor nor biologist. Please review this link for information on the Vitamin C myth.
http://www.quackwatch.com/01QuackeryRelatedTopics/pauling.html
I just finished paying off $16000 in credit debt. We did first make sure we had a $2000 balance in our account at all times to make sure could pay for all bills at any time. But we transferred some balances around then start paying off the high interest ones first. We now just paid off the high interest 12.5% time share of $4k. Since all is left is asset backed loans, we need to build more savings until really start paying off the boat at 8.5%
@Beth:
Good point. My take is that it's reasonable to deal differently with debts that are at low, fixed rates, such as some student loans and mortgages. In that case, it may be reasonable to treat the debt as if it were an expense, and simply plan on paying it off over time, rather than moving more aggressively to get paid off early.
Still, it's worth comparing the rates (adjusted, if necessary, for the tax advantage of mortgage interest).
In particular, don't be fooled by the notion that you're coming out ahead by saving "for retirement" if the rate that you're paying on your debt is higher than the rate you're earning on your savings. It's true that you'll eventually get out of debt, and may have more money in your retirement account if you do that, but neither of those factors means much when viewed in isolation. Your entire portfolio supports all your goals. If, when you finally get your old loans paid off, your total wealth is smaller (because you paid more interest on your old loans than you earned on your savings), you're still coming out behind where you would have been--even if your retirement account is larger. The "years of compounding" apply to everything--not just your retirement savings, but also your non-retirement savings and your debts.
Of course, tax laws make it complex to find the best path--there's the tax advantages of mortgage interest, plus the tax advantages of putting money into retirement savings. (Not to mention a corporate match on your 401(k) contributions, if your employer still does that.)
I wrote a post on picking your way through those issues called when NOT to put money in your 401(k).
That Black Friday shopping shouldn't be what it's all about. I am not doing Black friday this year because a special relative that I almost never get to see will be in town for just one day, and spending time with her trumps any shopping. (Plus, to be honest, I've been resourceful with my shopping and have almost everything purchased.)
Taking time to be kind to others is important, as well. But in my area of the country, I have never witnessed the kind of horror stories that others see in their local stores. I usually strike up nice conversations with others in line, chat while waiting outside the stores, and get a chance to know others who have the same frugal ideals as I do.
Maybe it's unique to my community or the stores I shop at, but aside from being a marathon event (store after store), it's always fun. The stores offer free coffee and donuts, the crowds are usually upbeat and cheerful, and the employees are treated respectfully. If I ever see that change, then maybe I'll reconsider my frugal tactics.
(I always see the bell ringers get extra love on the way out of the store on Black Friday, as well. Maybe people feel like they have extra to give since they saved so much?)
Thanks for the comments, folks. The holidays are for family first, but I have to admit that it's rather indulgent to go shopping without my 4 children in tow. It's kind of nice to get out of the house and shop!
Linsey Knerl
I think there are two sides to debt repayment, pay it down and don't get more of it, and would like to outline the strategy I've built based on that.
My wife and I have an emergency fund that doesn't get touched unless we have an unexpected _necessary_ expense (i.e. appliance repair, physio, prescriptions); a good deal on a TV or couch is not a necessary expense. If something causes the balance in the emergency fund to drop bringing it back up becomes the number one priority for the next month. I think an emergency fund is essential because the money for unexpected expenses only comes from one of two places: your savings or your debt. By having a buffer between yourself and everything else you minimize the risk of an emergency forcing you further into debt.
As for debt repayment, I've found the best way is to set up an automatic transfer on the same day you get paid and to put any found money (raises, bonuses, spare change, money saved from lowering a bill) directly onto debt to prevent lifestyle creep. Just make sure you have enough in your emergency fund.
Caroline, thanks for these tips. My kids are teens now, but they've come to narrow their food choices to a very small number of foods.
One of the big plusses of your suggestions is that they're intresting and FUN to prepare. That's an important piece of the nutrition puzzle with kids--getting them interested. Selling them on health benefits is a complete waste of time because it sounds to close to what they're taught in school.
We're going to try a couple of these and get the kids involved in the preparation. That seems to make them like what they eat even more.
andyg8180--that's the point I made in my post link in comment #5.
In order to get out of debt, you first need to replace the credit addiction with something else, and the best alternative is cash.
Once you learn to live on cash, you won't need credit anymore. Until you make that transition, paying off debt is an uphill fight. With a cash cushion, you'll be halfway up the hill before you start the treck.
I loved this post! Finally someone who has not bought in to the idea that buying a house is a good way to amass a nest egg.
I rent and love it. I pay $850 a month for an appartment and could easily rent a house for $300 more a month. I pay $500 for insurance a year. I don't pay for anything else.
I paint my walls, I drill holes, I have a garden and a huge back yard. What I don't have are a mortgage, property taxes, insurance, maintenace, etc.
In my neck of the woods, a $150,000 dollar house equals a total monthly payment of around $1500 a month. Investing the difference, $650 a month, is no doubt a better investment. For all you doubters out there, go to the NY times page and use their calculator. It proves the math time and time again.
For the person above who said that you can't get 5% a year from the market, you are wrong. There are stocks that pay dividends at twice that.
For the other person that said that owning is more secure in retirement, do you expect your maintenance, insurance and property taxes to go away after you finish paying off your house?
Some of the soap for dishes and clothes is not only to get the oil off the clothes but to counteract hard water. I am not an expert on this nor do I fully understand what happened but I was one to use 1/2 the dish detergent and the dishwasher stopped cleaning. We were scared we had broken it and were dreading a service call. After a bit of time with a screw driver, a shop vac, vinegar, a store bought "dishwasher cleaner", a change in detergent brand and using the recommended amount of soap the dishwasher began working properly again. We suspect there was a build up of hard water somewhere due to not using enough detergent. We avoided the service call and replacement this time, we'd prefer to avoid it in the future as well.
Plus my dog started stealing my 'clean' underwear so I decided the clothes must not be as clean as I thought they were getting with less detergent.
I'm not saying don't use less...just be mindful of potential (and potentially more costly) after effects.
(Cool halloween effect is to do handprints of detergent (that has the fluorescent phosphorous) on a sheet or towel then put it under blacklight! Just wash to clean.)
I use http://dingpow.com, it's a pretty easy to use site, and has saved me tons of money so far!
Getting to the stores the night before at Midnight might be the best idea, with the sale flyers in hand.
John DeFlumeri Jr
I'm very angry with this company. They definitely do not check information before sending out their cards. While going through our mail yesterday, I noticed a letter for my son. I asked if he knew what netspend was and he told me no. He never heard of it. We opened it and it was this prepaid card. This made me beyond angry. This is due to the fact that my son is a minor. He's not even a teenager yet. When I called the 866 number all I could get was an automated system. I will be trying again.
As for the comment about debit cards and fees. I belong to a credit union and don't get charged any fees for using my debit card. Also, if some of the fees are higher than a bank then why would want this card over a bank card.
As for the post "come on" posted by Mark Root. If your company does a check, they should know if the applicant is a minor or not. I am not saying that my child is an angel. No child is. But for you to say that your company does checks is absurd. If your post is any indication on how your company runs, I and my family definitely don't want anything to do with it. Next time before you post you should do a spell and grammar check.
I believe your nest-egg is your number on priority. YOU should be the most important bill in your stack of bills... Remember, CASH BEATS CREDIT anyday...
so lets say you pay off all your debt today, and you lose your job next week... or lets say your car breaks down and you need a downpayment for a new beater... OORRRR you get dings with an appendectomy...
You need that emergency fund now, and not later... Id rather take the extra year to pay down my debt vs not having any kind of savings...