Archive for the ‘Blog’ Category
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.
Continue reading »
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.
Continue reading »
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)
Continue reading »
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.
WHAT YOU NEED TO KNOW IF YOU ARE BUYING OR SELLING A HOME
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.
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.
Continue reading »
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.
Continue reading »
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.
Continue reading »
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 »
