Recently, I did a segment for Twin Cities Live about melting your gold and selling it because you could get more money for gold than a few years ago. Recessions work that way. Gold holds its value during a recession. But someone whose parent had recently died asked me if now was also a good time to sell an old wedding band, made up of several diamonds. Her jeweler suggested making an eternity ring, or using the small diamonds to make something for her daughters.
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I love antiques. That’s why I wrote two books about them. I also know that more than 60% of you who buy antiques shop for them online to save time. So do I.
1stDIBS.COM
Michael Berman has done a great job of creating a website where anyone can buy any kind of vintage or antique online, from dealers all over the country, and even abroad. 1stdibs.com posts the pictures and descriptions of the item, and then if you are interested, you can contact the dealer directly. The dealer pays a commission on the sale of the item to 1stdibs.
As I have mentioned many times over the years, in my books and on TV, you must be the one in charge when buying from an antiques dealer. Otherwise, you are likely to be swindled. You must, as 1stdibs.com must, require a condition report or else you, as the buyer, will be out of luck if the piece comes damaged.
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Having watched the economy rollercoaster during the past year, I’ve seen businesses in every industry make significant, radical changes in they way they do business, and how they treat consumers. Having spent over 15 years analyzing the retail world, I have documented my research findings in my TV segments covering almost every consumer topic imaginable, from home furnishings to health care.
Now, years of research will be turned into a concise, easy to read, and practical book that will tell you how and where to shop for the best values in your daily purchases. Going forward, one thing is certain–stores no longer want to be left exposed to the same economic swings that hit around the time of the stock market crash. I am looking forward to this new adventure in my life, and hope I can deliver a valuable tips for shopping book in a way that hasn’t yet been done.
Jennifer Angel
Jennifer Angel, the astrologer for the New York Daily News, named me her Celebrity Aquarian of the Month. I was pleased to receive this designation, as it places me in the company of other people I admire. Ms. Angel says in her profile:
As an Innovative Aquarian, consumer reporter Jennifer Litwin has spent more than 15 years navigating and reporting on consumer scams. Jennifer developed her brand, the Shop Cop, which provides valuable insights into consumerism. Her television segments, which have aired live on ABC in both Chicago and in Minneapolis, on Twin Cities Live, the Twin Cities #1-rated show, two books, and her popular Shop Cop Radio Show on VoiceAmerica.com have proven her to be an industry leader in consumerism.
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Watch Twin Cities Live on ABC in Minneapolis where I talk about the best and worst in holiday gift returns this year. Many new return policies this year. Some stores are more lenient, while others are making their return policies more vague. If you need to make returns you won’t want to miss this show
This holiday season has been the first in years to have decent return policies across the board—well almost. If you’ve been wondering how long you have to return your holiday presents, policies have changed somewhat this year—more favorable to customers.
In an aggressive bid to win loyal shoppers, stores have pulled all the stops when it comes to returns this season.
BIGGEST TRENDS THIS HOLIDAY SEASON
- Vague return policies—need to really read the policy carefully, and even then, you may be missing some of the facts (Ex: Target and Victoria’s Secret).
- Returns at store/department manager’s discretion: this policy hasn’t been in place for more than a decade
- Receipts not crucial in many stores (Target, Macy’s)
- Extended time for returns; now 90-120 (Target- 90 days) days instead of 14-30, with the exception of electronics/games (14 days the norm, and restocking fees after that)
- Stores are not locking into return policies—Policies are changing all the time—even after the holidays, allowing flexibility for the stores; a wait and see approach. Good and bad.
- Tracking the number of returns—Wal-Mart, Target—could hurt your chances for a refund.
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I recently shared my tips for the best and cheapest way to ship anything in the week right before Christmas. Shipping prices are going up and comparison shopping shipping prices is getting more confusing. I will help you learn the tricks to last minute shipping and saving money throughout the year. Shipping prices are expected to go up by 5-10% in this next year.
THE BEST DEALS AND WAYS TO PAY FOR THEM WITHOUT GOING BROKE
Retailers are preparing themselves for cautious spending this holiday season, and are stocking their stores with lower inventory this year. Here’s what you need to know about Black Friday and the remainder of the holiday season.
HOTTEST TRENDS THIS YEAR
- Time-saving necessities like small ticket, $20 gadgets and accessories (Target kitchen accessories under $10)
- Packaged, large quantity toys great value (Wal-Mart has 100 toys for $100, like Barbies and action toys)
- Video games, Wii, Nintendo $20 off at K-Mart—this will hurt the big electronic store sales at places like Best Buy, who are not offering these discounts on such popular items; big box discount stores competing with electronic stores because people are still spending on the electronic games for their children
- Luring repeat shoppers, stores are offering gift cards (Toys R Us offering $10 gift cards if you spend $75 or more, Target $10 off $100 on future purchases, JC Penney)
- Clothing deals will be on necessities, rather than on luxuries–Old Navy discounting winter coats (as inexpensive as $15), jeans ($10 for kids), fleece sweatshirts ($5)
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VOICE AMERICA RADIO
EPISODE DESCRIPTION:
The economic events of the past year have changed the way we think about our retirement money–how we plan to save it and what to do if we lose it. Included in this discussion are what kinds of options are currently available for safe investing, 401Ks and investing for those in different age brackets. Joining me to discuss these topics are David McPherson, financial planner and ABCNews.com personal finance columnist, and Jean Chatzky, author of “The Difference: How Anyone Can Prosper In Even The Toughest Times,” and The Today Show financial editor. Please tune in.
WORK-AT-HOME MOMS: GET SCAM-FREE JOBS
Just what you’ve always wanted: the chance to work at home and still be part of your children’s lives. Millions of mothers are trying to get jobs from home, and the most likely place for them to look is on the internet. Once again, the problem of internet scams. 6 million moms have been scammed trying to work from home. These scams used to appear more on billboards, but with the popularity of the internet rising, people are finding it easier to job search right from their own computer.
TYPES OF SCAMS–USUALLY FEE-BASED:
- Administrative–Example: stuffing envelopes, doing crafty things that everyone is qualified to do, where you are promised a good hourly wage, of say, $20/hour. Another example is with medical transcripts—companies make you buy software that isn’t usable. Don’t let the greed factor take over. Watch for overuse of capitalized letters. Scam: After completing several hours of work you are told the work was not up to the employer’s standards.
- Tracking UPS and FedEx packages: This is supposedly for companies that don’t have time to track packages. They hire you, agreeing to pay you between $50-75/hr to track their packages. If the promised delivery time is even off by 1 minute, those shipping companies are supposed to credit you the shipping charges. Spam. Make you believe you will be working with these “name brand companies”, which are usually not part of these scams. Scam: You have to buy the software for around $100 to do this, but more importantly, FedEx and UPS are not affiliated with any of these programs. This software does not work within those companies’ systems and is ILLEGAL to use. Be careful when paying with PayPal.
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WHAT YOU NEED TO KNOW IF YOU ARE BUYING OR SELLING A HOME THIS SPRING
Refinancing your home: consider only if you can save 2 percentage points on what you are currently paying. Consider closing costs and points you will have to pay. Closing costs can be as high as 3% of the loan amount, on fixed mortgages.
The longer you stay in your house, the quicker you are to break even if you decide to refinance your mortgage.
ACCORDING TO THE LATEST STATS PROVIDED BY THE MORTGAGE BANKERS ASSOCIATION:
Overall, the real estate market is stabilizing. This past month, existing home sales showed the biggest percentage increase since July 2003.
- Consumer spending is on the rise, though still slow
- Condo sales in February jumped an impressive 11%
- Home prices in the West this past month dropped 30%, the highest drop in the country
- New home sales rose almost 5%. The largest number of existing home sales was in the Northeast, a jump of about 15%
- Median price down 18% in the country from last February.
