Money Tips Network
Don’t Let Contractors Rip You Off
It’s the height of home repair season, a time when established contractors are often in demand and unavailable. That’s a big opportunity for the fly-by-night operators to step in.
Hiring a contractor to do work on your home, whether it’s a relatively small job or a major renovation, is a big deal. For most consumers, your home is your biggest investment. It should be treated with the level of respect that comes along with that.
Just like you wouldn’t want some quack of a doctor to perform surgery on you, you don’t want someone with questionable skills to be operating on your home. On top of that, if you do end up with a shady “contractor” you not only run the risk of poor work you also are taking a chance on getting ripped off.
Scams in the home improvement business have been around for a long time. They’re finely tuned and very focused on getting consumers at their points of maximum vulnerability.
Ask the Readers: How do you dream?
This post is from editor Linda Vergon.
“I’m just a dreamer. I dream my life away. I’m just a dreamer who dreams of better days.”
Ozzy Osbourne
We can be so romantic about things. Take dreams, for instance. A dream is like a magnet. Once we set our hearts and minds on something, we’re happily drawn to pursue. You hear it all the time: Pursue your passion! Chase your dreams! So by opening up this discussion of how we dream, I hope no one thinks that I’m pooh-poohing dreams to any degree whatsoever. They’re wonderful, these dreams. I think dreams are very important.
Silver Coins – List Of U.S. Coins Containing Silver
Silver coins are easier to find than you might think. My son and I recently began collecting coins – and we are finding silver coins. The cool thing is – we are finding these (partially) silver coins while sorting through rolls of commonly used U.S. coins.
We have learned that sorting through rolls of coins is often referred to as coin roll hunting. Pretty cool.
Once or twice a week, we’ll go to the bank and get a few rolls of coins – some dimes, nickels, and quarters. If the bank has them, we’ll also get some half-dollars. We’ll come home and hunt through the rolls for any interesting – or valuable – coins.
Retirement Budgeting
In The Charles Schwab Guide to Finances After Fifty: Answers to Your Most Important Money Questionsthe author provides a basic, sample budget meant to determine how much you'll need to save for retirement. Here are her thoughts:
Total first-year spending goal (including taxes): $110,000
Minus Social Security: ($30,000)
Minus annual pension: ($20,000)
Minus rental income: ($20,000)
First-year withdrawal: $40,000
Retirement portfolio target (first-year withdrawal times 25): $1,000,000
It's not a bad start. It's certainly rather basic, but it gets people thinking in the right manner IMO.
If we take this same methodology and apply it to what I'm thinking for my retirement, here's what we'd get:
Best Money Tips: Ways to Eat Well on the Cheap
Welcome to Wise Bread's Best Money Tips Roundup! Today we found some fantastic articles on eating well on the cheap, saving on airline fees, and the best and worst cities for savers.
Top 5 Articles
4 Ways to Eat Well on the Cheap — Growing your own food can help you eat well on the cheap. [US News & World Report]
How to save money on airline fees — To save money on airline fees, decide what your priorities are when you fly. [Five Cent Nickel]
Limes Are Crazy Expensive Right Now: 16 Ways to Replace Them
If you haven't heard about it on the news, you've experienced it in the grocery store: The Great Lime Crisis of 2014. Limes are either crazily marked-up or the bin is completely empty. A confluence of factors is the blame: a widely spread tree disease, erratic weather patterns, and extortion in lime growing parts of the world are among the reasons.
If you're used to relying on the trusty lime to brighten up your spring and summer drinks, sauces, salads, and meat entrees, this might be a good time to diversify your acid game in the kitchen. Here are 16 fun ways to replace limes in your repertoire.
The Cheapest Way to Get Fit and Strong in 30 Days or Less
Whether you're looking to get fit or just need a change of pace, scoping out gyms can be fun. And if you plan carefully, you could get up to a month (or more!) of gym memberships for free. Below is a list of nationwide gyms that offer low-cost (or even free!) passes up to 30 days in length. Simply start at one club and work your way around the rest to maximize your sweat sessions — and your savings. (See also: Legit Ways to Use the Gym for Free)
101 Ways to Save Money on Clothes
Clothes can certainly run up your budget, especially if you have a soft spot for shopping. But, not to worry when there are many smart things you can do to save and still have your fashion too. Here are over a one hundred ways to help your closet and your budget. (See also: 25 Secrets to Keep Your Clothes Brighter, Whiter, and Lasting Longer)
1. Buy Generic Basics
You don't need to shell out big bucks on tanks, T-shirts, and other wardrobe basics and layering items. Skip the $50 white T-shirt and try places like Old Navy for such items (many $5 and less), or look to generic brands.
7 Habits of Extremely Extreme People
Whether it's eating or not eating, giving up shoes for good or spending hundreds of thousands of dollars on shoes, extreme people do extreme things. You'll be surprised what people get up to when they take things to their logical conclusion. Here are seven extreme habits of extremely extreme people. (See also: Lessons in Simple Living From Extreme Minimalists)
Why You Should Still Pay Attention to Bitcoin
It might sound like something the Super Mario Brothers obsessively hoard, but bitcoin is a form of electronic currency that's worth real money. Little known and even less understood, bitcoin has been gaining steam on a global scale as digital commerce continues to dominate consumer practices. However, due to its early adoption on the black market and price volatility, bitcoin is seen as something of a financial urban legend. While bitcoin has a checkered past and uncertain future, it is being exchanged right now for real money. So the question remains, should you invest in this cryptocurrency? (See also: Here's What You Should Know About Bitcoin)
Cheap and free Microsoft Office products
Software as a product is a strangely complex beast. Freeware, commercial software, open-source, closed source, crippleware, nagware, bloatware, software as a service, tiered usage, service contracts, upgrades — software comes in all kinds of flavors and reasons for disdain.
And as someone who lived during the rise of Microsoft, we sure loved to hate Bill Gates and company, didn’t we? They tuned the idea of the software license agreement to a well-oiled, money-making machine. If buying a watermelon were like buying Microsoft software back then:
Spending Time, Spending Money
During a given day, I spend time on a lot of things.
I usually spend quite a bit of time doing things to earn an income – writing posts, sending emails, doing research.
I spend some time doing household tasks, which generally don’t earn much money but don’t cost much, either.
I spend some time engaging in personal tasks, such as eating and hygiene, which have some costs associated.
I also spend time engaging in hobbies and entertainment, which can vary a lot in costs.
The same is true for almost every employed person. You spend some time working – earning money – and the rest of your time revolves around expenses.
Now, as I’ve said many times, my fundamental rule of personal finance is to spend less than you earn, which breaks down to two pieces: spend less and earn more.
There’s a fundamental connection between those pieces and how we spend our time.
Reader Mailbag: Failed CEO Bonuses
What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to five word summaries. Click on the number to jump straight down to the question.
1. Differing views
2. Jobs and automation
3. Investment management services
4. Handling injury settlement
5. Unusual door prize
6. Sneaking candy into theaters
7. Buy-it-for-life with a baby
8. Food date discounts
9. Jim Cramer’s frugal rant?
Round Up To Reduce Debt
When making our monthly mortgage payment, I always round up.
I use a zero-based budget to manage our household finances.
When calculating the allocation for the mortgage payment category – I round up to the nearest 100′s place.
I do this, because I like easy-to-do math. This works in our situation, because our payment ends with 60.12. So, rounding up adds approximately $40 to our monthly payment. If our payment ended with, say, 98.16, I’d round past the nearest 100′s place, and add an amount that felt comfortable within our budget. And, if our payment ended with, say, 11.92, I might round up to the nearest fifty, and not go all the way to the next 100. Clear as mud? Basically, I’m adding an amount to my mortgage payment, each month, consistently.
Taking the Chairman’s Flight and other career-limiting moves to avoid
This article is by staff writer Sam. Sam spent 13 years working in Equities on Wall Street and discusses financial independence strategies on Financial Samurai. Sam is also the founder of the Yakezie Network, the largest personal finance blog network on the web.
Working on Wall Street was tough. I felt like I was constantly being hazed by anybody senior to me.
“Sam, go get me some coffee.”
“Sam, I ordered a double macchiato with almond milk, not a single macchiato with soy milk! Take it back!”
“Where the hell are my photocopies of the morning notes?!”
“Even a dog can do that!”
And so forth…
Best Money Tips: Control Your Money, Control Your Mind
Welcome to Wise Bread's Best Money Tips Roundup! Today we found some awesome articles on controlling your money and mind, splitting costs with your partner, and life truths you should live by.
Top 5 Articles
Control Your Money, Control Your Mind 12 Tips — Feel more in control of your life by writing things down and improving your methods. [And Then We Saved]
Drama Free Guide to Splitting Costs with Your SO — When in a relationship, consider taking turns when paying for things. [PopSugar Smart Living]
Dorito Bread and 24 Other Amazing Recipes You Must Try
You guys are in for a treat — quite literally! I've scoured the Internet to find the ultimate food-hacks known to man. And whether you're into the sweeter or more savory side of things, I've found something for everyone to enjoy. The next time you're hosting a party (or just looking to indulge), be sure to consult this list and make it an event to remember! (See also: Win Your Next Potluck)
1. No-Bake S'mores
All I have to say is: Wow! These No-Bake Cookie Dough S'Mores take the traditional favorite to a whole different level.
This Is the Secret to Buying Electronics for Cheap
I love new electronics, but I don't always let myself buy them. There's simply too much available, and they cost too much money. Lately, I find myself turning more and more to buying my electronics refurbished. Right after the latest iPad was released, I bought the previous version refurbished for about a hundred less than it was currently running, which saved me even more from the new version. Since they had very similar guts, it was a great deal. (See also: Frugal Advice for the Gadget Addicted)
How to Turn Unwanted Gift Cards Into Cash
Got gift cards to stores or restaurants you'd never dream of patronizing? Wouldn't it be great if you could turn them into cash? Well, it turns out that there are several ways to do exactly that. (See also: How to Use Up Small Balances on Gift Cards)
Expect to get anywhere from half to about 90% of the card's face value or remaining balance. Not surprisingly, gift cards from retailers with a wide range of merchandise, like Walmart, or for a product that almost everyone buys, like gas, have the best resale values. Lesser-known, specialist retailers and regional stores sell for steeper discounts, sometimes up to 50%.
Here are ways to cash out your gift cards
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