Money Saving Deals For April, May and June

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The new quarter is fast approaching. Taxes are due soon and the refund checks are in the mail. If you want to save some money, I have listed the best buys for the next three months. The list is courtesy of LifeHacker.com. Happy Shopping.

April

• Cruises: Cruise lines are moving ships around this month. You can even book and travel on short notice.
• Car accessories & parts
• Laptops
• Fabric: Craft stores are shifting from winter fabrics to lighter spring fabric.
• Cookware
• Vacuum cleaners: The new models arrive in June.
• Sneakers: Sneaker makers are targeting less serious runners.

May

• Patio furniture: New stuff hits the floor, old stuff needs to go. Also, check out garage sales for last year’s stuff.
• Party supplies
• Cookware
• Vacuum cleaners: Just like last month, clearing out old models.

June

• Gym memberships
• Tools (June 1-20)
• Suits (June 1-20)
• Dishware: Like May, June is a wedding month, so dishes are cheaper.
• Off-season sports gear

For their complete list go to: http://lifehacker.com/#!5736625/the-best-times-to-buy-anything-in-2011

Do Your Kids Need A Cell Phone?

Image by yisris via FlickrIn most cases, whether or not to get your child a cell phone, especially if they are a teenager, is going to be like any other parenting decision. Things to consider include:

• Does your child really ‘need’ a cell phone?
• Can you afford a cell phone?
• Is your child responsible enough to take care of a cell phone?

My daughter came home from school one day and said, “I need a cell phone.” She’s 10. What I heard was, “Everybody has a cell phone. Can I get one too?”

My wife and I aren’t the type of parents to run out and buy something just because someone else has one. I know this gets frustrating for the kids, who see all the toys and gadgets their friends have, and would like to have more.

We never had the cell phone issue growing up. We just had to make sure we had enough change in our pocket for the pay phone, or call from the school office if there was a problem.

When we sat down and asked her why he thought he “needed” a cell phone, she gave the usual answers:
In case there’s an emergency at school
In case I need you to pick me up from school early

Both of these I shot down with, “then you can go to the school office and call us from there.”

There are different reasons why some kids should have phones and others don’t really need them. These reasons have nothing to do with age, but with their activities. If they are left alone often, then I can see having a cell phone, or if they will be late from a school activity or other event.

Safety is probably the main reason I would consider a cell phone for children.

If you’re considering getting a phone for your child, here is a link to some phones for kids with different levels of parental control: http://cellphonesforkidsguide.com/2010/05/08/best-cell-phones-for-kids-2010/

Reader: What's your experience with kids and cell phones?

Are You Suffering From Daily Deal Fatigue?

Image by paulamarttila via FlickrIf your Internet experience is one notch above e-mail then you certainly are the victim of the daily deal syndrome. When surfing the Internet you have signed up to some of your favorites sites and get their interesting daily or weekly emails. If your a smart shopper you have searched the Internet to find the best deal for your purchases. Not wanting to miss out on those good deals you have signed up to the deal websites so you don't miss that next great deal.

You see the ads saying "We have saved 50 to 80 percent at restaurants, tickets to movies and hotels stays." You can get deals to almost anything, even skydiving. With nearly 500 daily deal sites it's easy to get lost in the emails.

But some bargain hunters are feeling bombarded by e-mails coming from the sites. I have had to unsubscribe from many deal sites, I just don't have the time. Now I just use a deal aggregator. They collect the deals from multiple sites and send them all in one e-mail. Yipit.com, for example, compiles deals from nine sites. It's a lot simpler.

Being overrun with e-mails isn't the only problem. Some buyers say that they find so many deals that are too good to pass up that they overbuy or let the vouchers expire. Unlike traditional coupons, which are free, vouchers let you purchase at a discount, but they cost money. Letting a voucher go can cost a buyer $5, $20, or even $100, depending on the purchase.

But what many voucher buyers might not know -- and what the daily deal sites don't advertise -- is that customers can use a daily deal voucher for the price paid, even after expiration. For example, a customer who paid $40 for a massage worth $80 can still get $40 credit toward a service after the voucher expires.

Groupon-style deals are becoming too much of a good thing for businesses, as well. Some local business owners say they're growing tired of sales calls from daily deal reps.

Daily deal sites typically charge businesses 40 or 50 percent of the cost of the voucher. Businesses keep the rest. But some deal sites are so desperate for deals that they are settling for 30 or 35 percent commission. As more startups join the fray, some run deals at no cost to the business just to build an audience.

Sometimes it feels better to take a break and unplug from the daily deals. It gets to a point where you hope the Internet is down so you just don't have to see another deal.


Reader: How about you, do you suffer from daily deal fatigue?

Tax Relief From The Chinese Drywall Problems

Image via WikipediaBeing in the building business in South Florida I see a lot of the issues concerning home sales. There is a glut of homes on the market plus plenty of home foreclosures. It's hard to sell a house now a days. Construction of new homes hasn't stopped which only adds to the problem. Mortgages can't be obtained because appraisals come in so much lower than the asking price.

Builders and home owners are also suffering from having homes that have Chinese drywall. Chinese drywall is drywall shipped from China that has containment's that give off toxic, high levels of sulfur gas. The gases cause copper components to corrode and fail. The air conditioners, wiring, and copper plumbing corrode and fail. It also causes the occupants of the homes to become ill.

The only remedy to the problem is to gut the house. Remove all drywall, copper pipes, all wiring, and any metal studs. It must be done down to the block outer walls. This remedy is very expensive to say the least. Costs to do exceed $100,000.

In our state the insurance companies won't touch the claims. Saying it's not part of their coverage. Even insurer of last resort, Citizens Insurance, the state run insurance agency won't have anything to do with the claims. So everyone sits waiting for the lawsuits and the goodwill of the manufacturer to step up.

The IRS has stepped up and allowed a deduction of 75% of expenses for the repairs. If at a later time the home owner is compensated from a insurer or lawsuit, the tax relief must be paid back. Also Broward County has stepped up and will not charge a property tax on the home if it is not livable. Check your own county if similar relief is available.

This has been a terrible blow to many homeowners. But some relief is available. If you know of any other kinds of relief, drop me a line.

If A Property Is In Foreclosure Do You Still Have To Pay The Rent?

Image by hownowdesign via FlickrThe common opinion when a rental property is in foreclosure is that you don't have to pay your rent. You may claim that the owner is going to lose the property so whats the harm in not paying. You have been receiving mail from the mortgage holder about the looming foreclosure and your afraid of what will happen. Do not worry you will have 30 days to move if it comes to that.

Not knowing what to do do in a situation is normal. Getting the facts will allow you to make the right decision. When you have a rental agreement you are promising to pay rent according to the details of the lease. A lease is a legal document that states how each party will perform. Just deciding to stop paying rent is in violation of the lease and you are legally liable to pay. You can be sued for the back rent and may even have to pay the landlords legal fees in pursuing the matter.

Paying your rent is the right and moral thing to do. Not paying, is taking advantage of the situation. The landlord in foreclosure has their hands full and may not pursue you for the rent, but it still is wrong not to pay.

If the property does go into foreclosure and later is settled by the owner. You have to catch up on the rent to stay in the rental. If the poperty is foreclosed and later sold to a new owner; the new owner has all contractual rights and responsibilities that were contained in the lease or, if the lease had run out, in the month-to-month rental agreement (with the same lease terms) that legally kicks in when tenants stay on with permission after the end of a lease.

So, for example, as the old owner had the right to receive rent on the first of the month, you, too, can expect the same. The former owner also had the right to demand back rent, by delivering a "pay or quit" notice. Most owners send these notices after one or, at most two, missed rent payments. With bank-owned properties these days, there's no telling how much (or more likely, how little) attention is being paid to the property. But even though a demand for 18 months of unpaid rent is unusual, it's still a right that you obtained when you took over as the owner.

You'll need to check your state law to see how much rent you can demand in a "pay or quit" notice. If you are limited and want to collect the balance, you'll need to go to small-claims court.

If in this situation, work out something with your landlord. If you don't trust your landlord why not pay in the rears. Pay at the end of the current month. You will feel your not getting taken and the landlord still gets their money. It may not be to the letter of the lease, but at least you are paying.

Reader: Have you had some experiences with living in a rental thats been in foreclosure?

When Is It Best To Ignore Money Advice?

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Retirement, IRA's, emergency fund, saving, debt so many things to keep track of. It can get a little overwhelming. Managing your finances can be confusing. Do you save for a house first or do you pay off debt? Both options are good if done in the right order. 

We all receive good financial advice, but is it appropriate to the current situation. Buy a house, don't rent is the one bit of advice you here the most. It's only good advice if your financial prepared, it could be disastrous advice if your not prepared. Good intentioned advice acted on at the wrong time will torpedo your financial goals.

Everyone has unique situations, it's the knowing when to do the right thing that will give you the results you want.

Buy a house, don't waste your money on rent.
It's the first thing you hear after some life changing event like a new job, marriage, or baby on the way. The advice is that your making the landlord rich while you could buy a house and be paying yourself instead. But being ready financially is the first step to buying a house. Do you have an emergency fund in place. Will the payment be affordable? Don't forget you don't just have the mortgage payment to worry about. Add to that insurance, property taxes, insurance, furnishings, utility bills, maintenance and repairs. Maybe renting sounds like a better idea now.

Are you saving enough for retirement? Are you getting the match on you 401k? Don't miss that match!
Again the wisdom of saving for retirement in a tax deferred account makes sense. Getting the match makes more sense. It's good advice. But is it good for you at this moment in your financial life. You have to weigh this good advice against do you have an emergency fund of 3 to 6 months savings. Do you have credit card debt still to pay off? It's not smart to ignore these more important things. What if you were sick or got laid off? How would your 401k help then? I would rather have a hefty emergency fund. These are things you need to consider.

Get life insurance so your family will be protected when your gone.
On the surface getting life insurance sounds good. How could leaving someone a large amount of money when you die not be seen as a loving and caring thing. You must decide if life insurance is even necessary. The purpose of it is to meet a financial need the deceased can no longer provide. Money to replace an income in the raising of a child or providing funds for a college education would seem appropriate goals. If it's not used to replace the deceased financial responsibilities , then it's not needed. If the deceased is leaving a spouse with no children, mortgage or other financial need; Insurance is not necessary.

These are only three examples of how good financial advice can be misapplied or applied at the wrong time for the wrong reasons. But there are many more.

Reader: Do have any examples of misapplied financial advice?