This is why you're broke 

9 dumb moves to financial failure

At Bargaineering we usually talk about ways to save money, imparting practical advice on the best ways to get the most bang for your buck.

But it’s summer, and things are a little goofy, so today we’re going to suggest a few ways to wreck your finances and stop building wealth.

So here’s nine dumb things to do with your money. Fair warning: I have my sassy pants on, and I’m not afraid to show it.

Dumb Move 1. Buy or lease a luxury car. Investing $600 or $700 a month in a Mercedes, BMW or Land Rover is totally worth the admiring – even jealous – looks from your friends and family. You might not be rich, but all of the dudes and chicks in the Taco Bell drive thru will think you are.

Dumb Move 2. Pay for everything with credit cards. It’ so easy to whip out the plastic or wave your smart phone in front of a terminal. You might lose track of how much you’re spending but when you want something, when you need something, you’re never out of cash, and never leave a store disappointed.

Dumb Move 3. Chasing fashion trends You can’t expect to land the best dates, or invites to the hippest parties, if it doesn’t look like People Style Watch threw up on you. Yeah, today’s trends are so short-lived that they’re on way out before the credit card bill arrives. But you’ve got to wear something, even if the major purveyors of “fast fashion” are bad for the planet. (That John Oliver is such a know-it-all..)
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Non-stop price hikes make Disney vacays a stretch

Taking a family vacation to a Disney theme park was once an affordable escape. Sadly, that’s not the case anymore.

The price of admittance into the Magic Kingdom has jumped up to $105 per person ($99 for kids ages 3 to 9) — a far cry from the $3.50 it cost to get in when Walt Disney World opened in Orlando in 1971.

And it could get more costly, effectively locking out middle-class vacationers.

In a story that certainly got me thinking about my experiences at Disney theme parks, the Washington Post reported:

“For America’s middle-income vacationers, the Mickey Mouse club, long promoted as ‘made for you and me,’ seems increasingly made for someone else. But far from easing back, the theme-park giant’s prices are expected to climb even more through a surge-pricing system that could value a summer’s day of rides and lines at $125.”

Now let’s be clear. Disney says it’s just studying surge pricing and has not decided to adopt the plan to charge more on its busiest days.

But it certainly hasn’t been shy about boosting ticket prices, having done so 41 times of over the last 40 or so years.
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 Personal Finance 

6 simple ways to save more and worry less

If you had to rely on your savings to live, do you know how long it would last?

Forty-seven percent of Americans said their savings would last three months or less if they went through a financial crisis, according to a recent survey by NeighborWorks America.

Whether your stash is large, small, or somewhere in between, putting away a little – or a lot – more doesn’t have to be complicated. In fact, following a few steps can make a large impact, especially over time.

The following strategies can help you boost the amount you’re putting away, and build momentum into your savings plan.

Have goals for your savings.

The idea of saving more may sound appealing, but without direction, following through is usually an uphill climb. “It’s incredibly hard to get anywhere without a destination,” explains Kevin Gallegos, vice president of Phoenix operations for Freedom Financial Network.

Sit down with your family and talk about what you want to accomplish, both in the coming months and also in the years ahead. Together, create a list of what you want to save more for, such as a plush emergency fund, an upcoming two-week vacation, college, another vehicle, a new deck, or retirement.
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My plan to enjoy summer without overspending

Overspending on vacations. Day trips that wind up more pricey than planned. Keeping the kids entertained on a boring day. Summer can get very expensive, very quickly!

This year I’m determined to keep a lid on those costs. I’ve come up with a plan to have lots of carefree summertime fun without dipping into savings or running up a credit card.

Here’s what I’m going to do.

Avoid food fights

When I think about past summers where the $20 bills seemed to disappear from my wallet every time we left the house, it usually had to do with certain someone’s (a.k.a. my two growing boys) getting hungry or thirsty just as we’d come upon a hot dog cart or pass a Dunkin’ Donuts. And like the cool mom I am, a good percentage of the time I’d give in to their pleas.

    2015 plan: This time around, no more Mrs. Nice Mom. Well, I’ll still be nice, but I’m going to make sure that the boys eat and drink up before we head out, and I’m going to stash a go bag with icy bottled water (our own reusable bottles, that is) and healthy snacks from the house. Better for everyone’s nutrition, and my pocketbook. That’s not to say we’ll never enjoy a treat out, but it won’t be a daily occurrence.

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 Bank Deals 

Here’s where to stash your cash while waiting for the Fed to finally raise interest rates, probably this fall

It has to happen sooner or later.

After months of dithering, it appears the Federal Reserve will actually start to push interest rates higher, ending years of record low returns on bank accounts.

While it could start as soon as July, the Fed seems more likely to initiate this epic change in policy in September or October.

That means you need a suitable place to park your cash until then. It’s especially important if you have a certificate of deposit that matures this summer. Immediately rolling it over into another CD probably isn’t your wisest choice.

Instead, it’s time to take a look at savings and money market accounts. Many of the best paying banks have nudged up rates in recent weeks, and are paying similar rates to what you can earn with a CD.

The best nationally available 12-month CD, from CIT Bank pays 1.25% APY, which is pretty much what you can make with a top-paying savings account.

You certainly don’t want to tie your money up in 2- or 3-year CDs that pay what, a quarter point more?

If interest rates start to take off this fall, you won’t want to be stuck on the sidelines, waiting for your CDs to mature. You’ll want all the cash you can muster, ready and waiting to pounce.

Here’s where to find the best-paying savings accounts that are open to investors across the county:
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Summer music festivals on the cheap…Or what passes for cheap in these days of inflated prices

When it comes to attending a music festival, cheap simply isn’t on the table anymore. These days it’s a matter of limiting cost.

This April, for example, a three-day general admission pass to the Coachella Valley Music and Arts Festival pass cost $375.

Anyone who wanted a few perks had to pay $899 for a VIP pass and remember, that only covered one of the festival’s two weekends. You’d have to spend twice that if you wanted to take in the entire spectacle in Indigo, California.

Beyond the tickets, here’s a breakdown of some other common expenses at Coachella, according to CNN Money:

  • $400 for round trip airline tickets.
  • $80 to get from the airport to the festival.
  • $60 to ride the festival shuttle around for the weekend.
  • $85 to camp out over the weekend and $500 per night to stay in a hotel.
  • $50 to $225 per meal.

If you go with the hotel option, you could easily spend around $2,500 at Coachella for one three-night weekend, not including meals.

Go with the camping option and you’ll spend somewhere around $1,000 without meals, $2,000 if you go both weekends.

That’s a lot of cash to spend, especially for concert goers such as myself. And we are, after all, the ones who spend our summers traveling around to these raucous celebrations.
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Skip the pricey car dealership … I fixed a keyless remote myself and so can you

I refuse to go to a car dealership for any reason.

I don’t shop for cars there and I don’t get maintenance or repairs done there. They have a reputation for charging much more than smaller auto shops.

So when my car’s keyless entry remote stopped working, I wasn’t about to head to the dealership to get it repaired.

I tried the obvious fix, first: replacing the battery.

I watched a YouTube video to see how to take the remote apart without damaging it. I got out a tiny screwdriver, removed the screw from the key’s plastic backing, popped open the remote case, and checked the number on the lithium ion battery.

A few days later, I had a package of five new batteries from an Amazon seller for less than $3. But switching out the battery didn’t solve the problem.

Maybe I had a bum package of batteries. I didn’t have any other devices I could test them on, so I ordered a different brand of the same battery from a different seller.

No dice.

I am slightly embarrassed to admit that I then pushed the problem aside for about two years and relied on my manual key to unlock my car door.
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 Personal Improvement 

Those heavily promoted $10-a-month gym memberships are great … But will you ever go?

Health clubs have a brilliant business model that counts on members who sign-up with the best of intentions rarely, if ever, showing up.

If everyone who belonged to a gym actually worked out on a regular basis there’d be chaos (for a deep dive into the economics of gyms, check out this Planet Money podcast.)

But the super cheap $10-a-month deals health clubs are touting these days are pure genius.

It’s the perfect play for customers who know they’re unlikely to actually go and are wise enough to reject a year-long contract that costs $30 or $50 a month.

At $10 a month — and no long-term commitment — it’s almost irresponsible not to embrace the financial risk and take another shot at remaking yourself into a dedicated gym rat.

I say another shot because I’ll bet these deals attract a surprising number of new members who’ve spent hundreds of dollars on unused memberships in the past.

Maybe even at the same club.

So what happens if you fail this time?
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