Pennysaverblog – Page 220 – Smart Finance and Money Saving Tips

Shopping

The Pros And Cons Of Buying From Daily Deal Websites

Everyone likes a good deal, which is probably why deal-of-the-day websites like Groupon, LivingSocial, Woot, and HauteLook have flourished over the last several years. Some offer daily deals on services in your geographic region, from restaurants and retail stores to local events, while others provide discounts on clothing, electronics, home goods, and pretty much anything you can imagine (there are all kinds of specialized DOTD sites for various industries). And if they’re virtually handing out free money for items you’d buy anyway, there’s no reason not to enjoy the massive savings these sites can provide. Of course, there could be a few flaws in the system, especially for people who can’t seem to pass up a deal, even if it’s not exactly in their wheelhouse. So before you sign up for DOTD sites, there are a few pros and cons you might want to consider.

On the upside, daily deal websites can offer you a ton of savings. Suppose you have a hubby at home who likes to buy the latest and greatest electronic gadgets. By signing up for a membership on Woot you can get deals on items like surround-sound speakers, crazy computer casings, noise-isolating ear buds, and allergen-reducing robot vacuums, just to name a few nifty products. By the by, Woot also has a DOTD spinoff for wine (so you can sip some discount vino while your spouse sets up his new electronics), as well as pages for tee shirts, home goods, sports, and more.

February 19, 2013

Debt

5 Reasons Why You Should Check Your Credit Report

Do you know what your credit score is? If you answered no, don’t feel bad. Most people couldn’t tell you with any kind of accuracy the number on their credit report, even though it has the potential to impact their lives in a major way. Suppose, for example, that you’ve finally managed to set aside a decent amount of money towards a down payment on a home. However, when you go to a bank seeking approval for a loan, you could discover that ancient black marks on your credit report related to massive credit card debt and a spotty payment history will set you back significantly. Even if you cleared up these issues a long time ago, a failure to check your credit report could mean that they’re still dragging down your rating, leaving you with fewer (and less appealing) options when it comes to taking a major loan. In short, there are plenty of reasons why you should check your credit report on an annual basis. Here are a few that should get you going.

Awareness. If you don’t know what your credit report says you can hardly expect to improve it. And if you want to make any major purchases in the future (a car, a home, a business, etc.) you need to have a top-tier score in order to get the stellar interest rates and other terms that you’re seeking. Your credit score can not only make or break your chances at loan approval, but also your ability to attain rates that you can actually afford to repay. So before you even think about looking for a loan, you should check out your credit report to see if you’ll even qualify.

February 19, 2013

Debt

5 Tips For Graduating From College Without Debt

Most of us would agree with the fact that it is a smart decision to go to college and earn a degree; especially being that there are many studies to support the fact that the average college graduate earns about $20,000 per year more than someone in the workforce who only has a high school diploma.

That’s not to say that college is not a huge financial investment. So much in fact, that an overwhelming majority of college graduates leave college with as much as $23,000 worth of student loan debt that must be paid back. It doesn’t have to be that way for everyone, though. Below, we’ve enclosed five tips on how you can graduate from college without owing a single dime.

Take some college courses in high school. When you go to college, you are paying for each class that you take. The good news is that a large majority of high schools offer advanced placement classes that are available to juniors and seniors. By taking a few of these qualifying classes, high school students can easily shave off a semester or two of college once they enroll. (Also check with your guidance counselor to see if there are actually college courses offered at your school as well.)

February 18, 2013

Debt

5 Ways For College Students To Build Credit

College is an exciting time for students like you all over the world. As you take your first major steps into the adult world, one thing that you’ll need to consider is how to start building financial independence. Building good credit now will be a great benefit to you in the years to come. Your college years are great times to start building credit, but you’ll need to be careful and responsible in order to reap the rewards.

Start By Piggybacking
It will be difficult for many students to obtain their first credit cards without a cosigner. One great way to get a head start on the credit game is to become authorized on a parent’s credit account. This is known as piggybacking, and it allows you to start building good credit by using your parent’s account. This will also allow your parents to monitor your spending and make sure that you’re not being too reckless in your habits.

February 18, 2013

Shopping

5 Ways To Save Money On Household Essentials

If you’re in charge of the household budget, you may be constantly on the lookout for ways to cut back on the essential products you buy the most, not to mention big-ticket items that you purchase only infrequently. And whether you’re purchasing toilet paper, frozen pizza, or electronics, there are all kinds of ways to cut costs if you’re willing to put in the time and effort. Luckily, there are also tools and strategies that will help to streamline the process. Here are just a few money-saving tips that should truncate your spending.

Join a coupon club. If you simply don’t have the time to engage in hours of extreme couponing as though it were a full-time job, then you can get a little relief and a lot of savings by joining a local coupon club. Each member splits tasks like checking circulars, searching for manufacturer coupons online, and matching up deals for increased savings. You’ll realize the same savings as extreme couponers with only a fraction of the effort.

Double dip. One great way to save that many people overlook is through double dipping on coupons and discounts. For example, if you have a store coupon for an item that you purchase frequently, you might also look online for a manufacturer coupon that allows you to increase your savings. And if you manage to use them when the item is already on sale, you might end up walking away with a steal. It is for this reason that many couponers stockpile non-perishable items; they simply might not find such a good deal down the road.

February 17, 2013

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