Posts

Should you Repair or Replace your Broken Appliances?

You’re worried the washing machine may be on its last spin cycle. It makes a horrible screeching sound and needs a lot of coaxing to make it all the way through a full cycle. Should you spend $319 to fix this inefficient appliance or replace it with a $999 new model that will use less electricity and water? Deciding whether to repair or replace your broken appliance—especially when trying to discover which option will save money in the long run—can be challenging.

 

Here are some basic guidelines and suggestions to help you decide, based on costs for replacement and repairs and the advantages of new models.

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Shopping With Cash is Still the Best Way to Save Money

When did you last hold a $50 bill in your hand? The new ones look strange … faintly colored, graphically random.

US-50-dollar-bill.jpg

You should pick one up some time to reacquaint yourself with something called U.S. currency. Look closely. It still reads: This note is legal tender for all debts, public and private.

Here’s my question: Does pumping my own gasoline at Costco constitute a debt, either public or private?

Between the moment my gas tank is full and the moment I actually pay for the gas, I owe Costco some money. I have incurred a momentary debt, and it seems to me I should be able to pay it with my U.S. currency.

Just try. In fact, at Costco filling stations my only choice is to pay with plastic—even though there are plenty of human attendants readily available.

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Ebates—an Awesome Way to Build a Cash Stash

I could teach you how to be an extreme couponer. I’ve had a lot of experience including the time I demonstrated how to do it, on location, live on TV from a large supermarket.

It’s a great way to save money but it’s a lot of work and limited mostly to grocery and drug stores.

Imagine a world where you had the equivalent of a big stack of coupons for all the other places you spend money—like Target, Amazon and Kohl’s, Groupon, Old Navy, even LifeLock.

You do and it’s called Ebates.

Young man using internet computer and counting coins at home. Asian man relaxed and sitting on sofa indoor.

What it is

At Ebates, instead of presenting a coupon, you have a digital account that earns you cash. Think of it as the grocery store clerk handing you that 25 cents when you bought the can of soup with a $.25 coupon and you putting that quarter straight into a savings account.

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How to Take the Pain Out of Saving Loose Change

I am not one to spend coins. I prefer to save my pocket change. In fact, I go out of my way to make sure I get plenty of change so I have more to save! But I hate to carry loose change, and so does my husband.

A Jar of Coins Full and Running Over

We routinely dump the day’s accumulation into a container to save for a trip or to buy something special. One year we saved $1,100 in coins, but I have to admit the logistics can be a royal pain.

Banks and credit unions have strict rules about loose coins. Some require it to be rolled, wrapped and labeled before deposited. Others won’t accept wrapped coins. Either way, most these days charge a fee.

I don’t know what happened to me last weekend. I guess I was suffering from a severe case of TMC (too many coins). In a fit of frustration, I dumped the jars into a big bag and drove to the supermarket. I knew it would cost me 11.9% but at the time, it seemed reasonable. 

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With My Sincere Apologies to Pawn Shops Everywhere

In the wake of America’s big economic wake-up call back in 2008, dollar stores and thrift stores saw, and continue to see, a big resurgence. And now another kind of retail quasi-lender is commanding all kinds of attention from sellers and buyers, too—pawn shops.

I admit to having grown up with a weird bias against pawn shops. To me, pawn shops were just one level above Vinny the Loan Shark operating illegally in some dark alley in the bad part of town just waiting to break some knees.

pawn-shop-stereotype-great-white-loan shark

Where did that come from? I have no idea really, but let me quickly follow by saying it is a most faulty stereotype.

Pawn shops are respectable businesses that offer a viable service in many communities. And these days, thanks in part to Rick Harrison, whose family owns the Gold and Silver Pawnshop in Las Vegas and stars in the History Channel’s Pawn Stars—one of my personal favorites— business is booming.

What it is?

A pawn shop, owned and operated by a licensed pawnbroker, makes secured loans on personal property left in the broker’s possession to be held as collateral. The property can be redeemed by the customer when the loan plus a finance charge (think: interest plus per-month service charge) is repaid.

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8 Easy Ways to Grow a Cash Stash in 2019

Saving money is a curious term with two meanings: 1) To spend less, as in “I buy things on sale to save money,” and 2) To physically place money where it is safe from being spent, as in “I save money in my secret savings place.” 

overhead-close-up-photo-of-a-woman-putting-money-into-her-purse

Okay, that’s fine. But here’s the problem. It’s easy to trick ourselves into thinking that 1) and 2) are the same. They are not unless of course, you stop by the bank to actually deposit the difference between what you would have spent had the stuff not been on sale, right into your savings account or wherever it is that you stash cash.

Actually, that is one clever way to boost your savings this year. Here are eight more:

1 Tax yourself

This year assess yourself a specific “tax” each time you make an ATM withdrawal. It might be $5 or $10, you decide. Whatever the amount, make sure you become a tough tax collector AND that you carry through and put the tax you collected into your safe savings place. No slacking, no IOUs.

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Best Way to Sell Gift Cards for Cash

According to a survey by the folks over at WalletHub, gift cards were one of the most highly desirable gifts this holiday season. If you were the recipient of your most desired gift—a gift card to your favorite retailer or service, that’s fantastic!  

Gift card gifts aimed at moms dads children teenagers etc

But sometimes a gift card doesn’t quite hit the mark, making its way to the back of a wallet, the bottom of a drawer or—gasp!—hopelessly lost in all the spent gift wrap and ribbon that was hauled to the trash.

Consumers spend more than $130 billion on gift cards per year—and roughly $1 billion goes unspent. Every year! Believe it. It’s as absolutely true as it is mind-boggling.

If you got a gift card from a store you’ve never heard of or one you’ll most likely never use—you may be wondering if there’s a way you can exchange it for cash. 

Good news. There is. And not only that new gift card. You may be able to get cash for other gift cards you’ve been collecting—even the ones that you’ve used but still have a decent balance remaining. Read more