by The Smarter Wallet on March 15, 2010
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So you’ve saved enough in your online savings account to finally afford that digital camera. Well here are some things to consider before making your purchase!
I was way behind the curve when I bought a digital camera. I had put off buying one for too long and had done absolutely no research, but ended up needing one in a hurry right before going on a cruise. I logged on to eBay and found a cute little used lavender Fuji camera that fit my budget and met the requirements for some of my mystery shopping assignments as well. So I made it mine. Only after I was on the cruise did I realize that I had gotten a bonus: the camera takes movies too!
Although I am happy with my camera, I realize that I did not go about buying it the right way. It is important to know exactly what you are buying before you purchase. There are scads of cameras out there in different price ranges and with various bells and whistles. So how do you make a decision? Price will always be a factor of course, and so will be intended use. Also, it’s important to comparison shop, so visiting stores and sites where you can buy electronics on discount can help you find the products you need at great prices. You may also want to consider online auction sites for affordable merchandise; just make sure you do your due diligence when you order online.
Tip: If you’re interested in a technical or analytical approach to choosing the right camera, then check out BestInClass.com, which offers a really clever tool to help you narrow down your choices.
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by The Smarter Wallet on March 12, 2010
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When it comes to food shopping, I now keep an open mind. Doing so has helped me save money on a good diet! There are cheap meals you can cook at home to stay frugal.
I’ve got a new pact with myself when it comes to doing the food shopping each week. I’ve agreed I will not go within ten feet of any prepared ready meals.
Now don’t get me wrong — they’re nice as far as convenience is concerned. But you can never be sure of what’s in them, and when it comes to the price, I know I can cook meals that are far cheaper and more nutritious any day of the week.
The one thing I had to do before I actually swore off ready-made meals and got more creative with my food shopping was to clean out my refrigerator. I’ll sheepishly admit that I don’t do this nearly as often as I should. But half the time, stuff gets pushed to the back of my fridge and forgotten about –- even though it is still in date and perfectly good to use.
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by The Smarter Wallet on March 10, 2010
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Some great reads this week, from a whole bunch of carnivals and blogs I had a chance to visit. Here were some of my favorite stops:
Wise Bread covers some tips on managing your loans, if you’re one to be worried about debt. Some effective tips include checking your credit score, doing your own debt management and consolidating your debt.
Lazy Man and Money is asking readers this very interesting question: what’s your favorite “speculative” investment right now? Mine would be real estate, foreign currency CDs (our EverBank review covers such products) and leveraged ETFs.
The Great Green Finds Carnival has some coverage on reducing plastic in our lives. It also has a story that covers tools and tips for compost making, along with how to make your own laundry soap. If you want to be self-sufficient, you can start by reading about how others have done it.
Then there’s the Festival of Frugality at FIRE Finance, where our own article, Break Bad Habits When Managing Your Finances, was selected as an Editor’s Pick! Woohoo! 
I also particularly enjoyed these top 6 mindless money wasters and this post on five things you can do when people beg for financial help.
For more great reads, make sure you visit these weekly personal finance carnivals!
The Carnival of Personal Finance at SimplyForties had a lot of things covered, including a look at human capital and investment. And what about using coupons on a date night — is this something you feel you can do?
by Millie Kay G. on March 9, 2010
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Are you looking to compare credit card offers? Here’s one review of a great American Express credit card.
If you aren’t currently enrolled in a rewards program or if you’re looking for an alternative to your current one, then you might want to consider the American Express Blue Cash credit card. It’s a credit card with a cash rewards program that makes it simple to earn its benefits.
American Express Blue Cash Review
To start off, when your total year-to-date purchases fall between $0 and $6,500 you can earn 1% cash back on items that are designated as Everyday Purchases. Everyday Purchases are classified as items purchased at supermarkets and drugstores as well as gas purchased from gas stations. This means that you can earn cash back on the things that you pick up for dinner or your next fill up if you drive a vehicle. All other eligible purchases will earn you cash back at the rate of .50%.
The program gets even better when your year-to-date spending increases to over $6,500. The rate for Everyday Purchases rises to a generous 5%. For other purchases, you’ll earn 1.25%. In other words, the more you use your Blue Cash card, the more you’ll earn back.
To help you visualize how much cash back you can earn, you can investigate the Blue Cash Calculator. When I selected the Moderate Spender tab, the calculator suggested I could earn up to $960 per year in cash back for my gas purchases. For groceries, it says I could earn almost $2,000 back in a year. You can do some comparisons among the different spending styles or use the Set It Yourself tab for more customized results.
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by The Smarter Wallet on March 9, 2010
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As insurance costs become more and more expensive, people are cutting corners in order to feel protected without paying the high price for coverage. Those who have already been diagnosed with medical conditions are especially susceptible to making costly mistakes when it comes to medical coverage. These costly mistakes occur when consumers see advertisements for so-called discount health plans that promise affordable health care with no deductibles or co-pays. These plans also promote heavy discounts on care and pharmacy bills.
Image from sfgate.com
Discount Health Plans: The Real Story
Those of you who are drawn in to signing up for these discount health plans are many times under the illusion that they are actually buying health insurance. However, the discount health plans which are also known as medical discount plans are NOT insurance. In their own right, the plans may have some use because of the discounts they do offer, but it’s also a good thing that the Federal Trade Commission (FTC) is stepping in to alert consumers about the differences. Consumers need to be aware of the fine line between what they think they’re getting and what they are actually getting.
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by Millie Kay G. on March 5, 2010
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What’s more affordable than hiring a tax advisor? Check out our tax software review and find out!
About a decade ago, I realized that doing taxes on my own calls for more than a calculator, pencils, and a fistful of erasers. This time, I’m taking a look at H&R Block At Home (formerly TaxCut). Like TurboTax, H&R Block At Home offers tax services and popular tax preparation software. The desktop versions are available on Windows XP and Vista, as well as for Macs. Here’s a look at some of H&R Block’s services and products.
H&R Block At Home Review: Online Services
As its name suggests, the H&R Block At Home Free Federal + e-File version is available at no cost. It includes helpful step-by-step guidance for tax preparation, ensures correct entry of your information and allows for 1 federal e-file. If you’ve got a simple return, then this is a service you can use. For state tax preparation, you’ll have to pay extra.
Meanwhile, the H&R Block At Home Deluxe is billed as “best for investors and homeowners”. It has all the features of the Free version, but also has personalized tax guidance and support for deductions and investment management requirements. You can also receive audit assistance from a tax professional when you utilize this particular solution.
With the H&R Premium Federal + E-file (State extra) version, you can enter your information and be guided through the various steps of filling out your federal tax forms. This version offers help for business owners, the self-employed and rental property owners. Business owners and the self-employed can take advantage of tax advice and specific forms for their needs. Additional support can be found for investment income, stock options, rental income, and expenses. Self-employed tax payers can also get business expense assistance, rental income assistance, access to advanced tax calculators and as mentioned, one session of live tax advice (a $19.95 value).
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by The Smarter Wallet on March 3, 2010
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When I read this article on how our health care system was frittering away money, it annoyed me to no end. I’m one of those people who feels I’ve done a lot of things right when it comes to personal finance, but I have an Achilles’ heel — it’s the necessary spending that I’ve had to do to ensure the good health of my family. You see, when it comes to one’s health, there’s a lot of things here that can be out of our control — accidents happen, infections happen, and even incurable diseases can alight upon you one day when you least suspect it and change your life forever. No matter how much saving, investing and earning you’ve done in your life, you may end up having to spend your hard-earned money on ridiculous things such as $1,000 tooth brushes and $140 tylenol pills, if you aren’t careful. And this is through no fault of your own.
I may sometimes come across as someone with a morbid sense of humor (black humor is my defense mechanism and my way of coping with tough issues), but I’ve always believed that if you’re a resident of the United States, one of the best ways to preserve your net worth is to simply STAY HEALTHY. Time and time again, I’ve seen the sick in this country suffer all the more — not just from their health problems, but also due to the games that health insurance companies and the medical industry play. I’ve read that the #1 cause of bankruptcy for many households is ill health, especially when it’s experienced by the breadwinners of the family.
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by Jacques Sprenger on March 2, 2010
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I wish somebody had given me some advice when I first settled in the U.S. I landed here in the early 60’s. Instead, I had to fend for myself during the mini-depression of those days jumping at any opportunity to work. Then, of course, Uncle Sam came visiting (the draft was on) and I spent a few years in uniform hurrying and waiting as is the norm in any army. Whether you are just graduating from high school or college, you are facing the same difficult employment situation and there are a few facts you should know, “ye impatient youngsters.”
5 Career Planning Tips For College Graduates
1. The most important value is not to feel entitled. Just because you came out of a good school doesn’t mean automatic job offers will be piling up in your mail box. The opposite is also true; if you graduated from a regular school that’s not on the excellence map, do not feel that you’ll only get crappy jobs.
2. Focus on one particular skill. When I first arrived in the United States, I had no special ability and my English was suspect at best. As expected, the jobs I encountered were at the lowest level of pay and position, though I was grateful to have one at all. If you jump into the job market with only a general diploma, the same thing will happen to you. Develop one particular skill (we all have one at least) and take additional classes or training, even if you are already working. Some of my high school graduates (I am a teacher) have a knack for all things mechanical, so I advise them to concentrate on one particular area such as aviation, where salaries are higher. Another option is to join the Armed Forces or the National Guard and get a free specialization.
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