FREEBIE HANDOUTS: WHAT’S REALLY FREE?
In this economy, we need to preserve our cash. Not only is not buying in bulk too expensive right now for an average-sized family, but we really need to hold onto every dollar we have. Freebies are in demand. Quality, in the feedback I’ve been getting, has gone down in lots of your favorite brands and products. Companies are now paying up to a few hundred thousand dollars to get our feedback on thousands of items. If you volunteer to test products, you will receive 5-6 free items, mostly food and cosmetics.
By sharing your positive thoughts and getting some feedback from your friends, your feedback can impact how products are made. Companies know we will spread the word if we like their products. 10,000 volunteers to test products generates 600,000 people learning about those products, according to Bzz Agent.
BZZ AGENT
Average yearly savings: $60-100
Products typically tested: food and cosmetics. Saving you money on your favorite products, word-of-mouth marketers hope you and your friends, and their friends, etc., will buy products. Most importantly for you, a chance to give your meaningful feedback and input into product-making.
How it works: Bzzagent.com does a word-of-mouth campaign whenever there is a need to address a group of people like yourself–young moms, recent grads, people living in large urban areas, etc.
The Catch: you don’t get paid to be a volunteer, but you get to keep the product samples.
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SAVING MONEY ON EVERYTHING WE BUY
Comparison shopping is hard in this economy, as retailers beef up their efforts to hide true savings. You need to be smarter, take charge and respond quickly to the rapidly changing retail environment.
IMMEDIATE SAVINGS ON THE EVERYDAY THINGS WE LOVE
Don’t feel like you have to give up “getting” the things you love to get, especially for kids.
CLOTHES, BOOKS, VIDEO GAMES:
We will always want to keep our wardrobes fresh and our kids occupied with the things they love. And you can’t get everything at the libraries. Some favorite sites:
- Swaptree.com: simply borrow books, over 8,000 videos, music, video games (400+), and offer your own inventory to borrow. Only cost is shipping and something to swap. Great site for kids.
- Swapstyle.com: over 30,000 members and 7,000 clothing items is easy when you trade clothes for free! Only cost is shipping. Keep your wardrobe fresh, but don’t count on getting exactly what you are looking for—hit or miss.
EATING OUT:
Even though the economy is not good we still want and need to eat out. Socialization and saving time is a big part of our lives, and an important way to relax and unwind.
- Restaurant.com: On this site, you buy a coupon for say, $10 and then save $25 in the restaurant. This is an incentive for you to actually go to the restaurant within a short period of time. There are about 50 restaurants in the Minneapolis area, for example. Promotions all the time for $0 coupons for say, $25 off at your favorite restaurants. Wide range of restaurant prices. Site has saved restaurant-goers $75 million.
- Momsview.com: Coupons for chain and fast food restaurants that you can print right off computer. Many say chains are more expensive than local eateries, but with this site you can really save a bundle. Coupons expire quickly, so check frequently. Hundreds of choices in all major cities.
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Earning some extra cash after the holidays is a must for many of us, either because our financial situation isn’t looking very good or because we have to pay off the creditors for the gifts we bought during the holiday season. Here are some ways to earn quick cash right from your own home!
SELL YOUR GOLD
We all have jewelry we don’t really wear anymore. Maybe you should consider selling the gold ones. The price of gold, unlike other commodities, has gone up dramatically in the past few years. There are 2 ways to determine value when selling gold:
- How much does the gold weigh?
- How intricate is the design, and how old/rare is the piece?
HOW TO SELL GOLD:
- Try an auction house first, and set a reserve so you don’t sell below market value. If a piece is valuable, try a large national auction house such as Sotheby’s and let them walk you through the process of selling . . . easy to do.
- Get an independent appraisal from a reputable jeweler so you know how much gold you have and any other qualities that might make it sellable.
WATCH OUT:
Don’t run to the nearest retailer or pawn shop to make a quick sale. You will be getting a wholesale price, at best. Beware of posting gold on eBay or other websites that sell a huge variety of things from sellers we don’t know, at random prices. Realize that most buyers today care more about weight than about age or intricacy of pattern. Most buyers of real gold want to see it or know that the seller is reputable. Best bet: a local auction house. For example, for Minnesota: Luther Auction House in St. Paul. (612-424-4654, 2556 7th Avenue East, St. Paul, MN 55109). Local auction houses have traffic and buyers willing to buy.
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As featured on KPLC Louisiana
When doesn’t free shipping mean free handling? As confusing as this sounds, many retailers are offering free shipping promotions, as I’ve learned, this holiday season. Recently, I received a web promotion offering free shipping at Eddie Bauer. I was at the checkout section when I learned that the retailer was going to tack on a $3 handling fee. I thought, “Wait, isn’t handling part of shipping? When isn’t it?”
NO SUCH THING AS A FREE LUNCH
Unfortunately, this is only one of the tricks retailers are using this season to make you think you have gotten something for free, when in reality, the charge has been added somewhere else.
FINE PRINT
Even if the web’s fine print tells you about these “extra” handling charges, separating out shipping from handling is something that we don’t usually consider. When was the last time you were charged for handling separately from shipping, but told you were getting “free shipping?”
CALL CUSTOMER SERVICE
Customer service departments don’t like to receive these kinds of calls questioning these trivial charges. But how else will retailers know that this is not a common charge for a “freebie?” In my case, I was not given an answer as to why I was being charged the $3. . . something about paying taxes on this order, but I explained that I had already paid the taxes. If your retailer of choice won’t hear your complaint, consider calling the Attorney General’s office for your state. In these trying times, retailers don’t want to lose you, but don’t be fooled by the jargon.
As featured in BNet Business Network.
Holiday season shopping is underway, and with all the deals and “steals” how can you be the smartest shopper in this down economy? This season is expected to be the worst in 20 years. Some of the biggest trends this season, good and bad include:
- Increase in Online Shopping: Online shopping is expected to rise 33% this season, due to time and shipping savings this season. Online retailers are making it easier to shop for and return items purchased online by offering free shipping, easy returns and customer reviews. Rise in matching prices online. Online sales will decrease because returns are expected to be high. Watch out for privacy policies and sharing your personal information online.
- Decrease in Credit Card Spending: Store and bank credit cards are lowering credit card limits. Department stores like Nordstrom and Target are expecting to do a bigger credit card business due to penalties, limits and interest rates being charged by banks, but overall, spending on cards will be less. $30 fees will be charged if you go over the limit, in many cases.
- Stricter Return Policies: Keep your receipts and gift receipt, but ask about quick sale adjustments in advance of the holidays to get the best overall prices. Without a gift receipt most stores are giving refunds only to the gift giver.
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The recession has hurt many retailers, of course. But are you willing to do what it takes to strike the best deal possible for yourself and family? With inflation figures up, what are retailers willing to do in the way of lowering prices? Did you know that 90% of you who haggle will get a discounted price? That figure is staggering. Stores like Macy’s, Target, and Room & Board are stepping up to the plate to catch every possible shopper. How can you make sure you are leaving no stones unturned when shopping for
anything right now?
HERE’S HOW TO SUCCESSFULLY HAGGLE IN THIS MARKET:
MOST IMPORTANTLY:
- KEEP ON TOP OF CURRENT PRICES AND SAVE YOUR RECEIPT! If you pay full price on ANYTHING, find out when the item will go on sale, keep your receipt and check to see if you can get that price difference if you return the item to the store. If you don’t get the lower price you could say “I feel tricked because the price was X yesterday,…and you won’t give me the sale price!” Department stores like Macy’s will discount if they have a loyal customer who complains about the recent price drop soon after the purchase. Continue reading »
As featured on ABC7 Chicago.
As the mortgage market and economy continues to be weak, there is an increase in the number of mortgage fraud cases reported, and a 48% jump in foreclosures last month, alone.
Illinois Attorney General, Lisa Madigan, just filed a lawsuit against Countrywide, the nation’s largest mortgage lender, for issuing and marketing risky and expensive loans. We have some tips on how to avoid getting into this situation and what to do if you find yourself a victim of mortgage fraud.
HOW DID WE GET TO THIS POINT?
- Lenders qualifying people who didn’t have the income to buy the home, but encouraging them to inflate their income on their application.
- ARMs became popular as “affordability products”– get borrowers in at a low rate but soon after, bump up the rate by several percentage points-resulting in increased foreclosure rates. Borrowers fooled by low teaser rate.
- At Countrywide and other mortgage companies, Madigan is claiming, the lender often didn’t tell borrowers the loan’s true costs, risk and affordability factors. Told borrowers, simply, “there are no closing costs.” This was misleading to the borrower.
- Loan officer’s compensation at many of these places was tied to the volume of loans sold–the goal being to sell as many mortgages as possible within a short period of time. The belief is that employers encouraged employees to sell risky mortgages to unsuspecting victims.
SPOTTING MORTGAGE FRAUD
- Lender encourages you to provide false info about your income, assets or employment. You may sense that the lender just wants you to buy that home that you love, but can’t afford.
- Mortgage broker/lender encourages you to work with his or her appraiser, inflating the home’s value.
- Interest rate is 2-10% higher than market rates.
- True closing costs are hidden, but lender tells you that you won’t be able to get a mortgage elsewhere.
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As featured on ABC7 Chicago.
With the real estate market being slow right now, you may be considering some home improvements. But beware of the scams and the contractors you allow to work on your home!
We can all relate to hiring the wrong contractor for our homes, the most intimate place that belongs to us. Getting recourse is very difficult and proving fault is not easy.
MOST COMMON SCAMS
- Asking for $ upfront for supplies, but never finishes the job.
- Bill at the end is higher than originally agreed upon.
- Doesn’t provide a written contract.
- Doesn’t provide in warranty or quote a list of materials/brand names to be used.
- Telling you that your repair issue is urgent so you won’t get other (possibly less expensive) quotes.
- Claiming the material you are buying is more expensive than the advertised price b/c it is custom.
- Not getting building permit before work begins.
- Demanding final payment before contractor pays subs/suppliers.
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If you are shopping for a mortgage now, you have probably discovered that getting a mortgage just isn’t as easy as you thought it might be.
TRENDS IN THE MORTGAGE MARKET:
- Both the 15-(5.42%) and 30-(5.88%)-year fixed rates have gone down by about ½% point in 1 year.
- The mortgage crisis began in 2007, as people failed to pay their loans. This quarter, alone, 900,000 homes are going through the foreclosure process, and home values are the lowest they have been since 2001.
- Loss of jobs—in March, alone, the economy lost 80,000 jobs.
- If you had an ARM (Adjustable Rate Mortgage), you paid a low introductory rate, but rates have soared after 2-3 years, making it harder to pay your mortgage. EX: If you have a $200,000 mortgage and your introductory ARM was at 4% at closing, it might be 7.5% now, after the adjustment period. This costs you almost $400 more per month. Continue reading »
With the economy being tight right now we need to save money anywhere we can. These are some of my favorite values right now.
- Best in kids’ furnishings/dorm room necessities: Wal-Mart: $30-40 bedding. Free shipping to your local store. Satin, very soft bedding, luscious colors and highly functional accessories.
- Best value in fixing up your outdoor furniture: Chaircarepatio.com. No matter what kind of furniture you have outdoors, it gets weathered and awful-looking after a few seasons. You can get replacement straps and slings in hundreds of colors for only a few dollars each, along with easy-to-use directions and hardware tools. I love this place based in Dallas.
- Best website for saving money on your prescriptions: I-saverx.net. Up to 80% savings on basic prescriptions! Must become a member (free), and savings on shipping, too. Also check your own insurance company! Insurance companies often team up with private online pharmaceutical companies or state-run agencies that sell medications. Make sure they are certified and, in fact, take prescriptions! Also, Walgreens and CVS have websites that list the drugs they offer for less—maybe generic, as well as $30-50 discount cards just for “joining”. They also provide a list of meds offered for your pets! Continue reading »