With the recent breach at major retailers around the holiday, not only checking you bank statement and monthly credit card statement are important, but so is your credit report.
If you are turned down for a loan or a credit card due to a bad credit history, you can obtain a copy of your credit report to see why. The company who denies your credit should convey which reporting agency they used for obtaining your credit report. But being proactive and obtaining your three reports annually will keep being denied credit from happening.
There are many television commercials and web sites that claim to offer you access to these credit reports. Before ordering, make sure you do not have to pay anything, as most offer a "free" trial period that will quickly expire and then require a monthly credit card fee to monitor your credit history. By reading the fine print if signing up on a website or with a credit monitoring website, you will know if there are fees to access your credit report and how often you can access it.
In December 2003, the FAST Act (Fair and Accurate Credit Transactions Act) was passed by Congress, allowing you to annually obtain through one convenient source, a free copy of your credit file from the three major credit reporting agencies. Your TransUnion®, Experian®, and Equifax® reports are available through one place once every 12 months.
Look for the legitimate website at www.AnnualCreditReport.com. If you do not feel comfortable ordering online, there are two other options for obtaining your free credit reports. By telephone at 877-FACTACT or by writing to request a form from Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.
All three options will require you to give your name, address, Social Security Number, and birth date. You will also be required to provide additional information that verifies the agency is communicating with you, and not someone attempting to imitate you. To prove your identity, you will be required to prove a bill such as your monthly mortgage payment amount or another major reoccurring bill.
Some of the reasons why you should obtain copies for all three companies.
1. To stay on top of your credit history, obtaining more than one report is necessary. Different companies report your transactions to the different agencies. When you apply for credit (borrowing money to purchase a car or home, or opening a credit card, and even applying for a job) the company may only check one of these three sources. That's why checking all three is so important.
2. When you are delinquent account is caught up or an account is paid off, it may not be reported the each of the agencies in a timely fashion, allowing it to remain on your report. If you find anything that is inaccurate on your credit report, you can file an appeal with the agency. They must investigate with the company in question and update your report based upon their findings.
For additional information about your credit report, check out this government website: http://www.consumer.ftc.gov/articles/0155-free-credit-reports.
Next month, you can learn more about the importance of your credit score.
Saturday, February 1, 2014
Wednesday, January 1, 2014
Paying the Bill - Now or Later
Now that the Christmas and other winter holidays have passed, take time to double check your bank and credit card statements. In December, one major retailer had a breech of records and many people found items charged against their credit card or money drained from their bank account.
Constant monitoring of your accounts (online and in paper format) is a safest way to stay on top of potential problems anytime, especially after making major purchases, being on vacation, or holiday shopping.
Here are a few hints for before and after you shop:
1. Following a budget is paramount when shopping. Know who you are shopping for and what you are looking for. Check store ads and web sites for prices.
2. Many people prefer to use cash. It can be a good option, and it can be a bad option. Cash can be stolen and will not be replaced while a credit card or writing a check can offer a safety net.
3. Know who is authorized to make purchases on the account and know where the card is stored. One of the safest places for an unused credit card to be stored is in a safety deposit box.
4. Keep all receipts to verify against your account. Store them in a simple white envelope until you can justify your monthly statement.
5. Know the timing for when fraudulent charges can be contested against your account. The sooner you catch something questionable, the sooner the thief loses access to your account.
6. View your credit report annually (more of this topic next month).
Now is the time to start planning for next year's vacation or holiday shopping. Set up a "club" account for your vacation or next year's Christmas. If your bank does not offer this type of bank accounts, open an account at a different bank and do not chose the option of access with a debit/credit card. This will make the account accessible only when you physically go to the bank to deposit and withdrawal funds. Make normal deposits into the account through payroll deductions or when extra money is available (birthday, tax refund, etc.).
Having these funds will make the bills easier to "swallow" when the occur. Then you can enjoy spending this money and not feel the crunch of credit card bills after the event.
Constant monitoring of your accounts (online and in paper format) is a safest way to stay on top of potential problems anytime, especially after making major purchases, being on vacation, or holiday shopping.
Here are a few hints for before and after you shop:
1. Following a budget is paramount when shopping. Know who you are shopping for and what you are looking for. Check store ads and web sites for prices.
2. Many people prefer to use cash. It can be a good option, and it can be a bad option. Cash can be stolen and will not be replaced while a credit card or writing a check can offer a safety net.
3. Know who is authorized to make purchases on the account and know where the card is stored. One of the safest places for an unused credit card to be stored is in a safety deposit box.
4. Keep all receipts to verify against your account. Store them in a simple white envelope until you can justify your monthly statement.
5. Know the timing for when fraudulent charges can be contested against your account. The sooner you catch something questionable, the sooner the thief loses access to your account.
6. View your credit report annually (more of this topic next month).
Now is the time to start planning for next year's vacation or holiday shopping. Set up a "club" account for your vacation or next year's Christmas. If your bank does not offer this type of bank accounts, open an account at a different bank and do not chose the option of access with a debit/credit card. This will make the account accessible only when you physically go to the bank to deposit and withdrawal funds. Make normal deposits into the account through payroll deductions or when extra money is available (birthday, tax refund, etc.).
Having these funds will make the bills easier to "swallow" when the occur. Then you can enjoy spending this money and not feel the crunch of credit card bills after the event.
Sunday, December 1, 2013
Planning Ahead
When I began writing this blog, I never thought I would write an entry like this one. Many of us are in the "sandwich generation," still raising our own children while caring for aging parents.
The last nine months have been hair raising for me, learning about major life decisions and senior advocacy. Although this is a different topic, please continue to read, as planning for your own future when you are a senior citizen or through a tragic event such as an auto accident when you need extended care can change your life without warning.
Look at your current situation. Do you have life insurance, retirement funds, a will, and plans for your life end? Have you asked your parents about these topics? If not, planning for your future and theirs is very important. Although this blog entry may not save you money now, it can save you and your loved ones money and stress in the future.
We all hope that we will remain healthy and live a long life. Illness and sudden injuries can suddenly change these plans, some leaving a family to cope with a tragic illness or even death and they not know about the wishes of their loved one.
One of the first decisions that needs to be addressed is a will. Do you have a will? If you do, when was it last reviewed? A will permits your loved ones to how you want your estate to be distributed and if you have children who should care for them. Not having a will leaves these decisions to the state.
Another major item to consider is life insurance. As you experience life changes (marriage, children, retirement, etc.), you may require more or less insurance. Term policies are in effective for a set number of years at a set premium. After the end of the term, the policy can remain in effective, with a large increase in the premium. Other policies like whole live and universal life can build a cash value while still providing protection.
Another form of insurance is long term care. When someone needs extended care after surgery or an illness, they can require extended medical care. All nursing homes and rehabilitation centers are not created equally. Having long term care insurance and advanced directives can assist your family in these tough times. To learn more, check out www.pahealthoptions.com/docs/LongTermCare.pdf.
Start by planning now before you or a loved one needs special care. If time permits, go to the facility to check it out yourself and speak with others who have a recent experience. Go to Medicare.gov to look for information on hospital, nursing home, and rehabilitation centers. It can be shocking to see how local facilities are ranked.
Talking to loved ones about the end of your life is not a comfortable topic. Let them know if you have a living will (and giving it to your physicians) or are listed as an organ donor on your driver's license allows the decisions you have made to be known. In a time of an emergency, these difficult decisions may be left to your family.
Have you purchased a cemetery plot or preplanned your funeral? Some of these decisions can be made now, saving your family money and the necessity to plan while they are grieving.
Finally, let family members know which attorney holds your will, the names of your financial planner and insurance agent, and any other necessary decisions on what type of care or final plans you want if you suddenly become ill or before you cannot speak for yourself.
The last nine months have been hair raising for me, learning about major life decisions and senior advocacy. Although this is a different topic, please continue to read, as planning for your own future when you are a senior citizen or through a tragic event such as an auto accident when you need extended care can change your life without warning.
Look at your current situation. Do you have life insurance, retirement funds, a will, and plans for your life end? Have you asked your parents about these topics? If not, planning for your future and theirs is very important. Although this blog entry may not save you money now, it can save you and your loved ones money and stress in the future.
We all hope that we will remain healthy and live a long life. Illness and sudden injuries can suddenly change these plans, some leaving a family to cope with a tragic illness or even death and they not know about the wishes of their loved one.
One of the first decisions that needs to be addressed is a will. Do you have a will? If you do, when was it last reviewed? A will permits your loved ones to how you want your estate to be distributed and if you have children who should care for them. Not having a will leaves these decisions to the state.
Another major item to consider is life insurance. As you experience life changes (marriage, children, retirement, etc.), you may require more or less insurance. Term policies are in effective for a set number of years at a set premium. After the end of the term, the policy can remain in effective, with a large increase in the premium. Other policies like whole live and universal life can build a cash value while still providing protection.
Another form of insurance is long term care. When someone needs extended care after surgery or an illness, they can require extended medical care. All nursing homes and rehabilitation centers are not created equally. Having long term care insurance and advanced directives can assist your family in these tough times. To learn more, check out www.pahealthoptions.com/docs/LongTermCare.pdf.
Start by planning now before you or a loved one needs special care. If time permits, go to the facility to check it out yourself and speak with others who have a recent experience. Go to Medicare.gov to look for information on hospital, nursing home, and rehabilitation centers. It can be shocking to see how local facilities are ranked.
Talking to loved ones about the end of your life is not a comfortable topic. Let them know if you have a living will (and giving it to your physicians) or are listed as an organ donor on your driver's license allows the decisions you have made to be known. In a time of an emergency, these difficult decisions may be left to your family.
Have you purchased a cemetery plot or preplanned your funeral? Some of these decisions can be made now, saving your family money and the necessity to plan while they are grieving.
Finally, let family members know which attorney holds your will, the names of your financial planner and insurance agent, and any other necessary decisions on what type of care or final plans you want if you suddenly become ill or before you cannot speak for yourself.
Friday, November 1, 2013
Discounts
We all enjoy keeping money in our own pocket. Recently, I learned more about asking for discounts while renewing our cell phone contract. Our company gives a discount if the main account holder is a current and former military member. Then we learned that my husband's employer is on the list of employers who also receive a discount. His employer's discount is at a higher percentage than the military discount, so we applied for that discount and received it.
When shopping, ask what discounts may apply. For most, you will need proof in the form of a membership or ID card; your driver's license; or for others, there may be paperwork to complete.
Discounts come in many forms, including military, employer, based upon your age (including AARP membership), and fraternal or other groups.
To prove a military discount, either a military ID or a DD214 form will be required.
A list of discounts is available at:
http://frugalliving.about.com/od/bargainshopping/a/Military-Discount-Directory.htm In Lancaster County, PA the Recorder of Deeds Office offers a discount card called Thank a Vet, with more than 100 local businesses offering a discount. Check out their web site for additional information on how to obtain a card at http://www.lancasterdeeds.com/vet_discount_program/.
From my background in education, I know that some businesses give a discount to teachers. Many times it is for benefit of their career. If you belong to a union or a professional organization for your career, check their web site or ask your group's president about their knowledge of discounts. Your work ID may be an acceptable proof to receive a discount.
Someone considered a senior, which can be range in age may receive a discount due to their age at a wide variety of businesses. Although the age can vary from 50 to 55, to 60 to 62 to 65. Proof is easily given with your drivers license. Anyone over the age of 50 can join AARP for a small annual fee. Discounts for age people age 50 and older can be found at:
www.seniordiscounts.com and http://frugalliving.about.com/od/frugalseniors/a/Senior_Discount.htm
If a discount is given to a fraternal or other group, a current membership card would be proof of membership. Check with the group, as they may be able to direct you to locations that will accept your membership card.
Spend time searching a company's web site or call their toll-free phone number to research discount programs. Just searching the word "discount" may not locate the information. Try discount program, discount eligibility, or other similar terms when searching. You may also want to call their toll free number to ask if a discount is offered or where to locate it on their web site.
Vacation locations may offer discounts to draw tourists to their stores and restaurants. When planning a vacation, check with the tourism web sites. You may need to pick up a discount card at their welcome center location.
Some general rules of thumb regarding discounts:
When shopping, ask what discounts may apply. For most, you will need proof in the form of a membership or ID card; your driver's license; or for others, there may be paperwork to complete.
Discounts come in many forms, including military, employer, based upon your age (including AARP membership), and fraternal or other groups.
To prove a military discount, either a military ID or a DD214 form will be required.
A list of discounts is available at:
http://frugalliving.about.com/od/bargainshopping/a/Military-Discount-Directory.htm In Lancaster County, PA the Recorder of Deeds Office offers a discount card called Thank a Vet, with more than 100 local businesses offering a discount. Check out their web site for additional information on how to obtain a card at http://www.lancasterdeeds.com/vet_discount_program/.
From my background in education, I know that some businesses give a discount to teachers. Many times it is for benefit of their career. If you belong to a union or a professional organization for your career, check their web site or ask your group's president about their knowledge of discounts. Your work ID may be an acceptable proof to receive a discount.
Someone considered a senior, which can be range in age may receive a discount due to their age at a wide variety of businesses. Although the age can vary from 50 to 55, to 60 to 62 to 65. Proof is easily given with your drivers license. Anyone over the age of 50 can join AARP for a small annual fee. Discounts for age people age 50 and older can be found at:
www.seniordiscounts.com and http://frugalliving.about.com/od/frugalseniors/a/Senior_Discount.htm
If a discount is given to a fraternal or other group, a current membership card would be proof of membership. Check with the group, as they may be able to direct you to locations that will accept your membership card.
Spend time searching a company's web site or call their toll-free phone number to research discount programs. Just searching the word "discount" may not locate the information. Try discount program, discount eligibility, or other similar terms when searching. You may also want to call their toll free number to ask if a discount is offered or where to locate it on their web site.
Vacation locations may offer discounts to draw tourists to their stores and restaurants. When planning a vacation, check with the tourism web sites. You may need to pick up a discount card at their welcome center location.
Some general rules of thumb regarding discounts:
- Most discounts aren't publicized - you need to ask.
- A valid ID is usually required. Most discounts only apply if you have a card that proves you are a member, including a Military ID or AARP card.
- A discount may vary by location. Some franchises leave discounts at the discretion of the owner or manager.
- A discount may not be the best bargain. You may be able to find better deals by shopping around (airlines, hotels, and travel are good examples of times when shopping around may lead to bigger savings). It's worth spending the research time if it is a major purchase.
- When booking a hotel or rental car, the discount may need to be applied in advance. Remember to ask or if booking online to look for a field to enter information.
- Discounts are a blessing, not a right. Discounts are offered out of kindness and respect. Thank the sales person who gave you the discount. Let them know you appreciate it.
Tuesday, October 1, 2013
Selling from you Garage, Porch, or Yard
Hosting a yard, porch, or garage type sale can be very daunting due to all that is involved. With some good thought, it doesn't have to be daunting if you start early and get other family members or friends involved. If you want to make money, you will need to spend a little money to do so. It takes an organized person, willing to spend some time to plan, advertise, organize, and lay out the merchandise.
1. Plan
1. Plan
- Know the restrictions placed upon sales by your municipality and homeowners association. Some allow sales during certain time periods or may limit the number of sales. Do you need a permit to host your sale?
- When in the year will you host your sale? Depending upon where you reside in the country, think about normal weather conditions. Look at your families schedule for conflicts like sports, jobs, or other activities keep you busy and unavailable to host a sale. If there is a major event in your town, more people will be in your neighborhood.
- Involve neighbors or friends in the sale. Larger sales can bring in more shoppers.
- If your residence is not an appropriate place to host a sale (i.e. on a hill), is there a local organization hosting a sale where you can rent space?
- Gather supplies you will need to advertise and set up the sale.
- Determine the date(s) and time period for the sale.
- Just before the sale, go to the bank and have ample money available - $100 in smaller bills and coins.
- Traditionally people search their local newspapers. Look into the requirements a few weeks in advance and look at other people's ads for ideas. Create your ad and following time deadlines for submission.
- Purchase bright colored poster board and a black Sharpie marker to make signs. You want people driving by to be able to read your sign. Make the lettering large and simple. Each sign should include an arrow, date and time. Place them at key intersections near your home on the Monday before your sale, unless there are restrictions set by your municipality or homeowners association.
- Print fliers to place at local stores on their bulletin boards.
- Consider posting your sale on the Internet. Look at sites for other sales in your area. Again, look at their requirements as to the size of the ad and number of photos you may post. Some popular sites include:
- Craigslist.com
- yardsalesearch.com
- yardsales.net
- yardsales.com
- garagesaletracker.com
- yardsaletreasuremap.com
- garagesales.com
- garagesalehunter.com
- yardsalequeen.com
- As a common courtesy, take down all signs after the sale.
- Designate a location for gathering sale items - have boxes or shelves available to start sorting.
- Taking one room at a time, look around your home and decide what items are not being used, are outgrown, or no longer needed by you and your family.
- Make sure the item is clean, all pieces are there (use a plastic bag to gather small pieces), and if damaged make note of it.
- When you transfer items to your temporary storage location, place similar items together after pricing them. Be careful when placing tags on items that they will not damage the surface.
- If other people are sharing your site, place your initials on your price tags.
- Expect people to ask for a lower price. If your price is firm (not willing to go lower), note that on the price tag.
- Think of your sale as a store, what would help draw people into your sale?
- Place like items together such as kitchen items; clothing arranged by gender and size; furniture; etc.
- Overcrowded displays are not appealing. Because your sale is competing with others, people will spend time looking through boxes or piles of items.
- Electrical items should be placed near the building with an electrical cord available for testing.
- Keep the money with you. Most people are trustworthy, however some are not. If you are distracted by showing someone an item, your money box could be left unattended.
Sunday, September 1, 2013
Where to Find a Hidden Gem or Junk at 7 a.m.
For centuries, people have bargained and traded items.
It was how they survived when money did not exist in some cultures.
Today, people still trade items, but normally they buy and sell them for
cash (paper and coin) or credit.
There is little recorded history of how and when people began hosting sales at their homes known as yard sales. Another name for them comes from the word romage which is a nautical term for how cargo was packed into a ship, and how the captain would sell unclaimed items on the docks. From the Merriam-Webster dictionary, a rummage sale is “an unusual informal sale of miscellaneous goods.” As the saying goes, one man's junk is another man's treasure and these sales abound with treasures.
Yard or rummage sales can go by many other names including garage sale, porch sale, tag sale, lawn sale, attic sale, moving sale, thrift sale, junk sale, estate sale, bazaar, and flea market. They are a way for the seller to make money while finding a way to dispose of unwanted or unused items. Some of these events are run by individuals while others are run by an organization to raise money for a cause. The reasons why someone shops at yard sales is as varied as the items you can find at them.
These sales can be a wonderful resource for furnishing your first apartment, looking to replace a missing or broken item, or to find an unusual treasure. Some sales are organized and items labeled with a sale price, while others are disorganized and items have not been priced. You never know what you might find.
Learning how to locate sales has changed in recent years. Other than the local newspaper, bulletin boards at local stores, or driving around town to find signs, the advertising of these sales is now available on the Internet. Searching these websites has varying results. On some you may not find any listed for your area, and on other websites results appear. It all depends upon how the people hosting the sale advertise. Some web sites are:
There is little recorded history of how and when people began hosting sales at their homes known as yard sales. Another name for them comes from the word romage which is a nautical term for how cargo was packed into a ship, and how the captain would sell unclaimed items on the docks. From the Merriam-Webster dictionary, a rummage sale is “an unusual informal sale of miscellaneous goods.” As the saying goes, one man's junk is another man's treasure and these sales abound with treasures.
Yard or rummage sales can go by many other names including garage sale, porch sale, tag sale, lawn sale, attic sale, moving sale, thrift sale, junk sale, estate sale, bazaar, and flea market. They are a way for the seller to make money while finding a way to dispose of unwanted or unused items. Some of these events are run by individuals while others are run by an organization to raise money for a cause. The reasons why someone shops at yard sales is as varied as the items you can find at them.
These sales can be a wonderful resource for furnishing your first apartment, looking to replace a missing or broken item, or to find an unusual treasure. Some sales are organized and items labeled with a sale price, while others are disorganized and items have not been priced. You never know what you might find.
Learning how to locate sales has changed in recent years. Other than the local newspaper, bulletin boards at local stores, or driving around town to find signs, the advertising of these sales is now available on the Internet. Searching these websites has varying results. On some you may not find any listed for your area, and on other websites results appear. It all depends upon how the people hosting the sale advertise. Some web sites are:
Craigslist.com
yardsalesearch.com
yardsales.net
yardsales.com
garagesaletracker.com
yardsaletreasuremap.com
garagesales.com
garagesalehunter.com
yardsalequeen.com
Here are some tips for taking on the adventure:
1. When attending these sales, use the same
common courtesy that you would want to receive if you were the person having
the sale. Read their ad thoroughly to note what is available and the
date(s) and time of the sale, including special instructions such as no
early birds.
2. When going to a sale, dress for the weather,
wearing layers of clothing in cooler climates and good walking shoes (morning
grass can be dewy). Have a hat, sunglasses, and sunscreen available
even in the off season you can get a sunburn.
3. In advance, go to the bank to obtain
change for the money you withdrawal. Paying for a $1.25 purchase with a
$20 bill may break their money box.
4. Have a focus on what items you are searching
for, even if it’s not written down. Know the size or measurements,
color, etc. for what you are seeking. Use your cell phone
camera to photograph something you are trying to match while searching can
help. Take a tape measure with you for measuring items at a sale.
5. Plan your route in advance, knowing
which sale is the most important and where it is located. Then drive to
another sale that is nearby. Some weekends you may strike out with few
sales and on other weekends you may have to limit the number of sales you
attend.
6. Have a shopping buddy, a friend or
family member to tag along. They can navigate your route, help carry
items, and keep you grounded. Have refreshments available in the car
for staying hydrated and nourished. To clean your hands after
touching yucky items, bring along a bottle of hand sanitizer or wet
wipes. Keep supplies available including plastic bags, newspaper, rope,
and a box to hold your purchases safely inside your vehicle.
7. What are you willing to pay? Know the
worth of items. Know that the cost would be if the item was new, if
it is an antique, or a limited edition item. Unless the item has the
work "Firm" on the sticker, be willing to make a reasonable offer.
8. Unlike a store that has a return policy,
these types of sales are final. Check items carefully before
purchasing. Check for condition – stains, tears, chips, rust, etc.
Does the item come in the original box, if so open it to make sure it is
the item shown on the box and to see if it includes the owner's manual, and have
all of the pieces?
9. If purchasing electronic items, ask
to plug in the item to see if it turns on.
10. There normally isn't a place to try on
clothing, but that does not have to stop you from purchasing
clothing. Clothing can shrink when washed, so do not rely on the
size on the label. Look at the condition searching for fading, worn
spots, stains, tears, missing buttons, and working zippers.
11. Pick up and carry items you are considering
purchasing. You can always put it down if you decide against the
purchase, but by not picking it up, someone else may select it.
12. Items at these sales may be under a recall.
This is of particular interest to those purchasing baby items like a car
seat. If you have a smart phone, check out the Consumer Product Safety
Commission web site while at the sale or call them during the week at
1-800-638-2772.
13. If you purchase a large item like a sofa or a chest
of drawers, and do not have a truck with you to transport it immediately, ask
for a receipt when paying and take a part of the item with you like a cushion
or a drawer. Most sellers are reputable, but by not doing so they could
sell your item to another shopper.
Who knows what treasurers you may uncover while shopping in
someone else's garage!
Thursday, August 1, 2013
Thrifty Shopping for Non-Clothing Items
Many thrift stores and consignment shops offer more than clothing and accessories including shoes, belts, and purses. Under their roof you may find furniture, Christmas decorations, books, luggage, and so much more.
To live thrifty and obtain items, when you are shopping is this item something you need or want? There is a difference, and knowing this difference can help you live a wonderful economical life. To be financially savvy, it is important to understand the difference. A need is an essential purchase, and a want is a discretionary purchase. We tend to get confused about the two. Often what we think that a need is a want. Those working in advertising tend to help us by confusing us, letting us think we need something that is actually a want.
Part of how we understand needs and wants comes from how we are raised and how the advertising industry displays things in front of our eyes.
One way to explain it is to look at something we have can understand. If you have ever been outside in 90 degree weather for 15 minutes and feel parched because you have not stopped to hydrate, you can say "I am thirsty." That is a need, as our bodies require a certain amount of liquid refreshment to be hydrated. What you chose to drink is the want. If you chose a soda over water, you have chosen what to drink.
Likewise, the choice of how to spend our budget can be dramatically effected by our wants and needs. That is where shopping at a consignment and thrift stores can save money. Last month's blog was about purchasing clothing at these stores.
Both consignment shops and thrift stores may sell glassware, dishes, curtains, small appliances, books, baby merchandise, sporting equipment, collectibles, and furniture. Being a smart shopper involves knowing that what you are buying may not be a bargain because the item is may be overpriced or damaged. Here are some tips for purchasing non-clothing items:
1. Inspection - always examine the item for the condition. Look for brakes, stains, and defects.
2. Repurpose - can you take an item and with a new coat of paint turn it into something else.
3. Condition - check electrical items, ask to plug them in and make sure they work. Does the store allow you to view DVDs or listen to CDs? The outward appearance may be fine, but what is on the inside is unknown.
4. Price - is it a bargain? Knowing the regular retail will help you determine if it is a bargain. Many times thrift stores offer items at specific prices that are a set intervals.
5. Budget - are the items in your stash within your cash flow? Setting a budget and having a list is important to not overspend.
6. Real or knock off - know what to look for in the logo for your favorite brand.
7. Price - look for an original tag or price sticker. If you have immediate access to the Internet on your cellphone, take a minute to look up the item for the retail price and possibly reviews.
8. Before approaching the cash register, take a moment to review your treasures. Are they impulse purchases? Impulse buying is something to always consider in the grand scheme of things. Is it something you can live without?
9. Before finalizing your purchase, understand the store's return and exchange policy.
While shopping you may find a match to something to replace like a broken plate, a memory from your childhood, or a real deal, something that is not priced correctly. Take time and enjoy your adventure.
Next month tips for finding treasures at yard and garage sales.
To live thrifty and obtain items, when you are shopping is this item something you need or want? There is a difference, and knowing this difference can help you live a wonderful economical life. To be financially savvy, it is important to understand the difference. A need is an essential purchase, and a want is a discretionary purchase. We tend to get confused about the two. Often what we think that a need is a want. Those working in advertising tend to help us by confusing us, letting us think we need something that is actually a want.
Part of how we understand needs and wants comes from how we are raised and how the advertising industry displays things in front of our eyes.
One way to explain it is to look at something we have can understand. If you have ever been outside in 90 degree weather for 15 minutes and feel parched because you have not stopped to hydrate, you can say "I am thirsty." That is a need, as our bodies require a certain amount of liquid refreshment to be hydrated. What you chose to drink is the want. If you chose a soda over water, you have chosen what to drink.
Likewise, the choice of how to spend our budget can be dramatically effected by our wants and needs. That is where shopping at a consignment and thrift stores can save money. Last month's blog was about purchasing clothing at these stores.
Both consignment shops and thrift stores may sell glassware, dishes, curtains, small appliances, books, baby merchandise, sporting equipment, collectibles, and furniture. Being a smart shopper involves knowing that what you are buying may not be a bargain because the item is may be overpriced or damaged. Here are some tips for purchasing non-clothing items:
1. Inspection - always examine the item for the condition. Look for brakes, stains, and defects.
2. Repurpose - can you take an item and with a new coat of paint turn it into something else.
3. Condition - check electrical items, ask to plug them in and make sure they work. Does the store allow you to view DVDs or listen to CDs? The outward appearance may be fine, but what is on the inside is unknown.
4. Price - is it a bargain? Knowing the regular retail will help you determine if it is a bargain. Many times thrift stores offer items at specific prices that are a set intervals.
5. Budget - are the items in your stash within your cash flow? Setting a budget and having a list is important to not overspend.
6. Real or knock off - know what to look for in the logo for your favorite brand.
7. Price - look for an original tag or price sticker. If you have immediate access to the Internet on your cellphone, take a minute to look up the item for the retail price and possibly reviews.
8. Before approaching the cash register, take a moment to review your treasures. Are they impulse purchases? Impulse buying is something to always consider in the grand scheme of things. Is it something you can live without?
9. Before finalizing your purchase, understand the store's return and exchange policy.
While shopping you may find a match to something to replace like a broken plate, a memory from your childhood, or a real deal, something that is not priced correctly. Take time and enjoy your adventure.
Next month tips for finding treasures at yard and garage sales.
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