Archive for November, 2008

Weekly Round Up: Family In Town

By: Green Panda | Date posted: November 29, 2008 (9:03 am)

 

Photo Credit: law_keven

I’m just relaxing with family this weekend. My brothercame up Thursday and we wentfor a day trip to the zoo. We had a fantastic time and a friend managed to get interviewed for the local television station.

Yesterday and today, we’re having my in-laws visiting. We’re going to give them a tour of downtown and taking to some of our favorite places. I hoe everyone is having as much fun as we are having.

Top Personal Finance Posts This Week

Carnivals this Week

How Am I Doing With Ramit’s Save $1,000 Challenge? Part 2

By: Green Panda | Date posted: November 28, 2008 (11:09 am)

 

Photo Credit: Ramit Sethi

It’s Friday and I’m waiting for my in-laws to come and visit us this weekend. The apartment has been cleaned several times in preparation for their visit and I’m tired (it’s only 10am). Since I have a few minutes I decided to go ahead and update everyone on how I’m doing with the Save $1,000 in 30 Days Challenge. 

There have been quite a few new tips, so I’m batching the reviews. I haven’t tried all of them (either they weren’t applicable or I haven’t set aside the time to do them).

Tip #14: Use self-persuasion to share how much you’ve saved so far

I’ve been keeping track of my progress and I’m hoping it motivates some people to try at least one tip in their lives. Most of these tips are revolutionary, but hey are doable and many are sustainable. 

 


Tip #15: Forget going to a bar — ask people over for dinner

This is a wonderful tip and we have enjoyed having dinner parties. While we have had large game night gatherings, keeping guests around 6-8 people seems to be less stressful. Potlucks are a great way to reduce time and it’ll help the atmosphere.  One couple brought the appetizer and another brought desert. We had the main course and side to make.

Amount Saved: $100 ($50 when we have people over and $60 when we visit a friend)

Tip #16: Cancel any large purchase this month

We did get the hotel reservations for our anniversary next month, but this was a planned purchased. We’re not planning on getting a flat screen TV this month, but we’re looking at the sales to get an idea. Costco seems to have some good deals. 

I can’t say we saved money on this tip as we don’t make large purchases without planning. It’s stil a good reminder.


Tip #17: Buy generic for the stuff you don’t care about

We live by this tip! If I get Double Stuff Oreos it’s because I love them and I haven’t found  comparable generic. We buy mostly store brand stuff as a matter of habit. My husband, though, is very particular on the computer equipment he buys. He not a big car guy, but he loves his tech stuff. 

Amount Saved: $50 (we now also use Costco’s Kirkland brand)

Tip #18: No Christmas gifts this year & Tip #20: Change the date of Christmas

Not directly applicable, since I don’t celebrate the holiday, but I see the how the idea works. 

Tip #19: Save Money, Eat Well and Look Hot in Less Than an Hour 

I have got to sit down and really study this one and I”ll let you know how that goes. It looks like a fantastic resource. 
 

Tip #21: Save thousands by pre-paying your debt

That’s what we’re in the middle of with my car loan. As you can see with the chart on the right sidebar, we’re killing it. The “please buy me a cup of coffee” link doesn’t buy me coffee, it goes to the paying down the car loan. We have a coffee maker at home.

Tip #22: Analyze your progress in the 30 Day Challenge (plus, see how I’m doing)

 

  • What were your goals when you started the Save $1,000 in 30 Days Challenge? My goal for this Challenge is to save $500 this month. Not only do I want to save money with this challenge, but I’d like to reduce our expenses by $200/month. I have reached my goals and now I’m trying to see if I can make these tips a monthly habit.  
  • How much have you saved? See below!
  • Have you really tried your hardest? If not, could you double your efforts over the next few days to finish off the 30 Day Challenge? I’ve made an effort, I wouldn’t say I tried my hardest.

 

For those keeping track with me with Ramit’s 30 Days to Save $1,000 Challenge:

  •  Grand Total Saved:$1,002.25 *what I actually save during the challenge, not including future purchases
  • Monthly Savings: $292.95

Do You Pay Your Mortgage Or Your Medical Bills?

By: Green Panda | Date posted: November 26, 2008 (2:50 pm)

Photo Credit: paolo màrgari

Wall Street Journal had an article yesterday entitled, ‘Facing a Choice Between Home and Health Care‘ and it’s sad how the economic situation has affected many greatly. 

Medical bills trigger half of all bankruptcies according to MSN.

The findings indicate medical-related bankruptcies hit middle-class families hard — 56 percent of the filers owned a home, and the same number had attended college.

“Families with coverage faced unaffordable co-payments, deductibles and bills for uncovered items like physical therapy, psychiatric care and prescription drugs,” Himmelstein said.

What’s sad is that having health insurance isn’t a complete protection. As you review the MSN piece, you noticed that many of them do have coverage. If you don’t have health insurance, it’s a much bigger issue. My friend’s dad had tens of thousands of dollars in medical bills due to an injury. Even if you’re in college, please get health insurance.

Health insurance can be really expensive, but it can give you some protection. 

 

How to Handle Overdue Medical Bills

  • Review you medical bills. Sometimes there are errors such as extra charges for procedures not done. A careful eye can decrease your debt. 
  • Keep a record of all your communications. List who you spoke to, when you talked, and what you said. Keep all of the paperwork in ne easy to reach place. 
  • See if the hospital you received care in has a charity program. It doesn’t hurt to ask and dig around. You may be able to get some of your bill written off. You usually have to show proof of income and jump through hoops to get aid, but I’d do if it could save money.
  • Examine your budget from top to bottom. See if there are any expenses you can cut and if you can increase your income. Having the numbers in front of you can help you try and go get an affordable payment plan.
  • Try to negotiate a payment plan. Based on what your budget examination showed you, request payments that are doable. Talk to a supervisor if the person you’re speaking to is unwillinglyto work with you. 
  • Contact organizations that can work with you (See below). Read the rest of WSJ to see other organizations that can help.
  • Keep working on your case. It’s going to be a long process and will most likely be tedious. Keep working at it.
  • Check with a lawyer or the public library to see if there is a statute of limitations for your bills. This is a long shot, but if you are at risk of foreclosure, look into this as an option. 

Source: eHow

Please check out the Wall Street Journal to get more information. I’ve only highlighted a few things.

Groups that work with patients who have big medical bills:

Source: WSJ.com

If you have been through this and have succeeded, please leave advice to share with others. 

»crosslinked«

Searching for a Job? Try One Day, One Job

By: Green Panda | Date posted: November 25, 2008 (8:22 am)

Are you looking for a job? Do you want to work at a place that is unique and looking for new graduates? If so, try One Day, One Job. I love the site and the concept behind it.

Willy Franzen does a fantastic job digging for fantatic, interesting jobs that could allow you to grow. He’s personally involved with the site. These aren’t cogs in the machine type jobs. Make sure you sign up to get jobs sent to your inbox. 

Here are some great posts and some recent jobs:

 

By the ay, if you’re a college student lookin for a great internships, try One Day, One Internship.

Weekly Round Up

By: Green Panda | Date posted: November 22, 2008 (12:37 pm)

Photo Credit: Williac

It’s been a nice, quiet week here.  We’re usually doing something , but sometimes having nothing to do just feels great. I hope everyone gets to relax this weekend with their family and friend. 



Top Personal Finance Posts This Week

  • Recession Proof Your Job – 4 Ways To Avoid The Pink Slip 
  • Don’t Almost Save 
  • Reusing Storage Bags
  • Black Friday Shopping Resources
  • The Credit Card Companies Are Never Wrong: Part 3
  • Move to a rural area
  • Quick and Easy Ways to Start a Savings Plan Today
  • Call Center CSRs Ruin Customer Experience
  • Maximize Your Money When You Belly Up to the Buffet
  • The Economy, the Media and Deceptive Sob Story Headlines

    • How Am I Doing With Ramit’s Save $1,000 Challenge?

    By: Green Panda | Date posted: November 21, 2008 (2:01 pm)

    Photo Credit:  muha…

    Ramit has been posting a lot more tips on his  Save $1,000 in 30 Days Challenge. I’m just going to put a few of my thoughts on the tips. I really encourage not only to look at the posts, but to check out the comments that are left. Some people have some wonderful suggestions that I have never thought of and I think that is the real gold nugget with this challenge.

    How to negotiate your car insurance

    We just renewed our Progressive policy the other month. We price different companies’ policies when renewals come around and we’re happy with what we have.  If that changes, I’ll let you know.  I switched some Nationwide to Progressive years ago and save almost half my monthly payments.

    How I’m saving $2,000+ on eating out in 2009

    I grabbed an entertainment book for my area. I checked out some of the places and we’ll save the most in casual dining section of the book. If we use the coupons for the places we already eat at, the book will pay for itself with three coupons.

    Since I used MyPoints referral link, I also can redeem some points and get some gift certificates. Double bonus! We also can get $2.50 off movie ticket. I estimate we see 10 movies a year, so that’s $50/year.

    Never pay full retail price for clothes (or eyeglasses) again

    We really don’t splurge money on clothes, but the glasses tip will save a chunk of money next time I order a pair.

     Use the free rewards from your credit card, car insurance, and workplace

    I tried to use my Costco membership to find a cheap deal on a vacation package for our 2nd anniversary, but I discovered that I could save money by ’building it’ piece by piece.  For example, by using Priceline’s  bid feature, I got a week at a nice hotel for $35/night instead of their $95/night ‘sale’.  That one step saved us over $400 for the vacation. 

     For those keeping track with me with Ramit’s 30 Days to Save $1,000 Challenge:

    • Tip#1 $45/month
    • Tip#2 $10/month
    • Tip#3 has brought me $15 for two books I haven’t used.
    • Tip#4: $10 for an ING Referral bonus
    • Tip#5: $7.25/month
    • Tip#6: $235/month once the car loan is paid off
    • Tip#7: $80/month
    • Tip #8: $20/month *note we did this before the challenge
    • Tip#9: $240 this month * this also include items we got for the dining room
    • Tip#10: $420 for the vacation *I’ll update this as we finish up the car rental and ticket purchases.
    • Tip#11: $50/ for a pair of glasses  *estimated, but not purchased
    • Tip#12:  $25/month (being conservative) *after we use the 3 coupons to break even
    • Tip#13: $0/month

    •  Grand Total Saved:$852.25 *what I actually save during the challenge, not including future purchases (like the the glasses)
    • Monthly Savings: $192.95

    How to Fix Your Credit Report and Raise Your Score

    By: Green Panda | Date posted: November 19, 2008 (5:13 pm)

    Errors on My Credit Report

    A few months ago, I was checking out my credit scores to get an idea of where I stand. I had heard that there can be errors on it that can hurt your score and in in turn give you hugher interest rates for auto and home loans.

    I noticed three glaring errors when I saw my credit reports:What's your FICO Score

    • My name was listed as my maiden name
    • I had a couple of addresses that I never lived in
    • I had a medical bill that was listed in collection, but was paid by my insurance years ago.

    The first two were annoying, but the last mistake was dropping my credit score. Your bill payments make up an estimated 35% of your score.

    How to Order Your Free Credit Reports

    The three nationwide consumer reporting companies have set up one website, toll-free telephone number, and mailing address through which you can order your free annual report.

    To order, visit annualcreditreport.com or call 1-877-322-8228

    Source: Federal Trade Commission

    Free Credit Report.com isn’t free

    FreeCreditReport.com isn’t a completely free service. You pay $14.95/month to monitor one of your three scores, Experian. I had it and it didn’t really help.

    When you order your free report here, you will begin your free trial membership in Triple AdvantageSM Credit Monitoring. If you don’t cancel your membership within the 7-day trial period**, you will be billed $14.95 plus applicable sales tax for each month that you continue your membership.

    How to Dispute an Error

    Call to verify what you need to send for your specific case. Too little and you have to repeat the process and too much information just makes me a bit nervous.

    Credit Agency Contact Numbers

    • Equifax: (800) 685-1111
    • Experian: (888) 397-3742
    • TransUnion: (800) 888-4213

    My Customer Service Rating

    • Equifax: It was easy to get a person available and got the information that I needed.
    • Experian: I can say that they are the hardest to reach. I was trying to get their fax number and their automated system does NOT give you the option of talking with a live person. I went online to hunt for the answer. Once I got someone, it went smoothly.
    • TransUnion: Even after digging online I couldn’t get a live person. I just find that annoying. I have to request my report by mail, as they can’t seem to verify me!

    Mail over a letter to the agency stating what you are disputing and the paperwork you are including.

    Some items you may need to include (depending on your error):

    • Copy of Driver’s License or State Identification
    • Copy of Social Security Card
    • Paperwork for the credit error (I had a copy of the insurance paperwork sent to me)

    Send the letter through certified mail and send copies. DO NOT SEND ORIGINALS!

    Credit Reporting Agencies’ Addresses:

    Equifax
    P.O. Box 740241
    Atlanta, GA 30374-0241

    Experian
    P.O. Box 2104
    Allen, TX 75013-0949

    If you send by certified mail, try:

    701 Experian Pkwy
    Allen, TX 75013

    Trans Union Corp.
    760 W. Sproul Rd.
    Springfield, PA 19064-0390


    For some items, you can actually dispute them online. Equifax can do that with certain errors, such as a credit account or collection.

    You should receive a letter in 6 weeks regarding the status of the dispute. EquixFax was able to handle my errors quickly. I’m still working on the other two agencies.

    Your Thoughts

    Have you’ve been through this? How have you fixed your credit report? If you know someone who needs to clean up their report, please share this post with them.

    Photo Credit:  unk’s dump truck

    Reusing & Reducing Saved Us Money on Living Room Redesign

    By: Green Panda | Date posted: November 17, 2008 (8:00 pm)

    Photo Credit: Green Panda

    I had a lot of fun this past Friday: a friend came over and helped organize and redesign the living room space in our apartment. She has a real eye for spaces and she was kind enough to offer her help.

    We have been in the apartment for about 8 months and we needed to rearrange it a bit. We have fireplace and since winter is approaching, we want to be able to gather around it. We also want to have a more open feeling with the spot. When we bought the second couch and chair from friends, we kind of just dumped them where we could.

    The big concern was budget. We wanted to spruce up the place without spending a ton of money. Fortunately, our friend brought over some stuff she had in her basement and storage and gave us some ideas on how to use what we already have and change it up. Sometimes you don’t have to buy stuff new, you can just reuse items that you have or reuse other people’s ‘treasures’.

    Not only are we happy with our living room, we saved hundreds of dollars. It goes to show that with some planning, you can upgrade your space without killing your bank account. We couldn’t do it without our friend. Now I just have to keep the apartment clean.

    How did I calculate how much we saved?

    I went to Target and Walmart’s site to find a comparable product. I’m not including the fee for a stager/interior designer into the total (for our city, a stager can charge $200 for  de-cluttering and rearrangement!).

    • 4 Solid Color Pillows: 4 @ $12.50 => $50
    • Patterned Pillow: 1 @ $25
    • Set of Curtains: 1 @ $30
    • Decorative Candle: 1 @ $10
    • Decorative Plate: 1 @ $3
    • Poster: 1 @ $5
    • Couch Slipcover: 1 @ $60
    • Candle Holder and Votive: $10

    Total Saved in Living Room: $193

    Some Tips on Creating More Space in an Apartment

    1. De-clutter your room of unnecessary furniture. We moved the back shelves to the home office where it fits perfectly between our two desks.
    2. Keep the walls light in color. Our apartment was painted in tan, so it wasn’t changed. Tan is better than that harsh white shade many apartments complexes use. If we decide to paint later, I prefer light blue, green, or even a pale yellow.
    3. Make sure your furniture size works for the room. Our other living room chair was switched with the office chair. While it was comfy, the size a bit too big and made the space seem crowded.
    4. Let in more light. The living room has a great view outside, so we leave the shades up and curtain pulled during the day. The natural light helps open up the room.

    How much have we spent since the move on fixing up the new apartment?

    Here’s what I came up with so far. I might be off by a little, but here are the big purchases in the last 8 months:

    • Curtain rods: $30 for a set of 3
    • Couch & Comfy Chair w/ Ottoman: $100
    • Whirlpool Washer & Dryer: $150
    • Washer Cable: $20

    For those keeping track with me with Ramit’s 30 Days to Save $1,000 Challenge:

    • Tip#1 $45/month
    • Tip#2 $10/month
    • Tip#3 has brought me $15 for two books I haven’t used.
    • Tip#4: $10 for an ING Referral bonus
    • Tip#5: $7.25/month
    • Tip#6: $235/month once the car loan is paid off
    • Tip#7: $80/month
    • Tip #8: $20/month *note we did this before the challenge
    • Tip#9: $240 this month * this also include items we got for the dining room

    Grand Total:$407.25

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