Wise Bread

Skills That Can Save You Money Part 1: Parallel Parking

Paul Michael — Wed, 17 Mar 2010 17:00:06 +0000

It may at first seem odd that a driving lesson would appear on a blog about saving money. But read on and you’ll see why something as basic (well, to some) as parallel parking can be a ticket to big savings.

I passed my test late in life. I was 26, and I did it here in America. It lasted roughly 15 minutes, and it basically involved driving around the block for a few minutes, getting on and off a highway, and stopping at a few stop signs and traffic lights. There was no test for parallel parking, which is good because I’ve never really had to do it.

I was fortunate enough to work and live in places that always had free parking lots. Only recently did I move to a new job downtown, and when you move to the city, you are presented with a severe lack of free parking lots.

For instance, in downtown Denver the parking lots run from $4 for the day (if you get in by 7am) to $20 a day. And that’s what you’ll have to pay if you’re parking for the duration.

But if you’re only looking to park for an hour, say to grab lunch or run an errand, some of these places charge you $2 for every 20 mins! Contrast that to the parking meters that max out at $1 per hour and it’s a significant saving to park at a meter.

Therein lies the problem for some people though. The sheer horror of trying to parallel park will have them lining up for the expensive lots. From having to reverse into a space, to doing the deed in front of an audience and looking foolish, it puts some people in a cold sweat. And if you have to run errands once or twice a week, you’re blowing a ton of money for the convenience of pulling into a space rather than maneuvering into one.

Parallel Parking 101

For those of you who are expert parallel parkers, this will bore you to tears. From my experience and a few surveys of friends and relatives, at least 50% of people aren’t confident with this at all. So, if that includes you, stick around.

Now, there is actually a science to this, as I found out when I had to start parking like this over the last few months. It’s not just “hit and hope,” you really can do it well every time if you follow a few simple steps. I have included a few how-to videos at the end, but for those of you who like to follow written instructions and diagrams, the following is for you. Of course, if the free parking space is at the begging or end of the row, you simply pull up or reverse into the space. These instructions are for a spot between two cars.

Step 1: Align Front Bumpers

First, pull alongside the car in front of the space you want to park in. You want about two feet between the side of your car and this one. Now step on the brake and put the car in reverse.

Step 2: Brake Off, Hard Turn

Now you take your foot off the brake, apply a tiny bit of gas if needed, and turn the wheel hard towards the curb. You want to go in at around a 45 degree angle.

Step 3: Back of Seat to Rear Bumper

This is the stumbling block for most people attempting to parallel park — when do you start straightening out? As you can see from the video below, most people do it too late or too early, often with funny results.

It’s simple enough though. Once the back of the driver’s seat is aligned with the rear bumper of the other car, start turning the wheel away from the curb. Just remember, your back, rear bumper.

Step 4: Fine Tuning

If you’ve done everything right, you should be about six inches from the curb and nestled between the two cars. Usually, you’ll have to move forward a little just to increase the gap between you and the car behind you. After that, just get out of your car, pop some change in the meter (if there is a meter), and lock up your vehicle.

The videos below go into more detail on parallel parking. As some people prefer visual aids, this may be a better for you.

Parallel Parking Instructions — Example 1

Parallel Parking Instructions — Example 2

And if you get REALLY good, you could always try this more advanced technique. Well, maybe not. Look for another money-saving skill soon.

Permalink | 9 comments | Paul Michael's blog | Channel: Cars and Transportation, General Tips

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Best of Personal Finance Roundup: 100 Must-Have Grocery Store Circulars

Linsey Knerl — Wed, 17 Mar 2010 16:14:19 +0000

By Linsey Knerl

Welcome to Wise Bread's Best of Personal Finance roundup. Today, we share the 100 grocery ads you'll want to check out online, how to make money off that expensive NYC apartment, and a meal from chicken and spinach that you'll absolutely love!

Best Deals for Wednesday 03/17/2010

Linsey Knerl — Wed, 17 Mar 2010 15:50:26 +0000

Threadless.com coupon: $5 off $25 or more

BOSCH Jigsaw Blade 5-pack $4

Amazon kids' shoes sale: Select styles 50% off or more

Flogging Molly "Drunken Lullabies" MP3 Album Download for $3

Baja Fresh: FREE Burrito with drink purchase today only

Dating on a Dime

Myscha Theriault — Wed, 17 Mar 2010 14:00:02 +0000

By Myscha Theriault

Finding time and funds for dating is a challenge for singles and couples alike. It’s my humble opinion that while getting to know each other, less truly is more. By carefully choosing activities and moments that are more simplified, you allow for more communication and awareness.

The latest in my series of affordable dating articles, this article features simple tricks for dating on a dime, including creative couples’ events and tips for using coupons discreetly in ways that won’t make you look tacky or cheap.

Flowers on the fly

When on a leisurely snack and stroll type of date, or if you just want to arrive with flowers, consider the “flowers on the fly” approach. A single rose from a street vendor or wildflower gathering during an outdoor adventure are both thoughtful gestures. For those who prefer a more modern type of flower arrangement, a bouquet of narcissus blooms or day lilies from the back yard tied with a fabric ribbon also make a nice statement. This gives you a way to add an element of style to the date, while keeping things appropriately in balance. Wise Bread’s own Andrea Dickson has written a great piece on DIY flower gifts, suitable for Valentine’s Day or any day of the year.

Double up

Double dating can be particularly affordable under circumstances such as camping, making dinner at someone’s place, or glamming up the evening with a progressive snack party. It provides an opportunity for cost sharing that’s discreet and “built in” to the experience, so to speak. It’s also an economical use of time and energy, since someone else is shouldering some of the logistics. Think glamping at a campground with amenities or renting a romantic mountain cabin for the weekend. Double dating keeps things small and oriented towards getting to know each other, where larger parties tend to be more about event planning. This can take the focus off the person you were trying to provide a quality event for in the first place. So couple up for savings and a superior dating experience.

Order ahead

Personally, I think this is the perfect way to work in coupons and other savings opportunities without looking tacky. As I said in my recent article relating to classy dating on a budget, hauling out a restaurant coupon on the first date is just plain tacky. That being said, picking up something on the way over to watch movies at your date’s apartment, or when you’re picking them up for a day hike is very considerate. It also allows coupon use without pointing it out. Two for one breakfast sandwiches and a free coffee with purchase? Great! Just call your date and let them know you’ll be picking up breakfast on the way and ask how they like their morning coffee. Five dollars off an entrée at your favorite Thai restaurant? Same thing. You can use this same sort of strategy for discount event tickets. Pick them up ahead of time and look like the best boy scout ever.

Do you have any additional suggestions for dating on a dime? Sound off below.

Permalink | 2 comments | Myscha Theriault's blog | Channel: Art and Leisure

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18 Must Haves for the Business Traveler

Nora Dunn — Wed, 17 Mar 2010 13:00:02 +0000

By Nora Dunn

Making a business trip a success involves a number of factors, including ensuring you are well-rested and on your game, protecting and transporting your belongings safely, keeping up with work and office events during your absence, and making every part of your business trip efficient and cost-effective.

Following is a selection of items and services that are often considered must haves for the business traveler, along with some guidelines as to what to look for. They'll help you save time, increase efficiency, and make that next business trip much more enjoyable.

Traveling Gear

1. Medication / First Aid

Aside from prescription medication, it is a good idea to have a small supply of over-the-counter supplies available if you need them in a pinch. Anti-nausea, allergy, and pain/fever reducing tablets, along with an anti-itch cream (for bites) can go a long way, especially if you start to feel ill and no pharmacies are open or nearby.

2. Inflatable Travel Pillow

Lugging around a non-inflatable travel pillow can be bulky and inconvenient, while an inflatable one is both light and portable. And when you are on that plane, train, or bus, having somewhere to put your head (that isn't the shoulder of the person sitting next to you) can mean the difference between arriving at your destination refreshed, and arriving needing a nap.

3. Plug Adapter

If you're traveling overseas, you'll need an adapter to plug your electronics and appliances into local power points. You can either choose an adapter suited specifically to your destination (often best bought when you arrive), or you can go with a universal adapter that will accept any type of plug and fit any type of wall socket.

4. Voltage Converter

Power points around the world vary dramatically in voltage. For example, if you plug a hair dryer from North America into an outlet in Australia — even with a plug adapter — you will immediately burn out your hair dryer and could even cause a fire. Many electronics have built-in adapters that can handle voltages from 110-240 volts, meaning you won't need an expensive and bulky voltage converter. However other items like hair dryers or small appliances don't have this capability. If you must bring these items, you'll need a voltage converter.

5. Surge Protector

Many power bars that we use at home have built-in surge protectors to prevent our electronics and appliances from getting a destructive shock in the event of a power surge (which can be caused by storms or faulty power connections). But we don't tend to bring power bars along with us when we travel, and power surges can be especially prevalent in developing countries. Protect your precious electronics from power surges by investing in a surge protector. Some plug directly into the wall (and you plug your items into it), and other smaller versions plug directly into your electronics, into which you plug the power cord.

6. Water Bottle

Whether you are flying (and trying to beat jet lag by staying hydrated), or at your destination and constantly on the move, having a reusable water bottle will save you the expense and hassle (and waste) of buying water in disposable bottles along the way. You can even order water bottles with your logo for the office, and give them out to employees to use too; a little guerrilla marketing and employee perks don't hurt.

Electronics

7. Cell Phone / Smart Phone

With the advent of iPhones and other smart phone devices, your cell phone can also double as your PDA, MP3 player, e-book reader, camera, and even GPS device, among other handy tools. No matter what your device is, make sure you don't pay excessive roaming, long distance, and data fees by checking into the specifics of your plan. Some carriers offer international coverage for an extra fee that can make using your device abroad more cost-effective. If you are sending your employees off with a phone on the company plan, this is especially important; they don't often consider what your bill will be at the end of the month when they make or answer phone calls.

Some people use their smart phone solely for internet connectivity abroad (since international data packages can be inexpensive and free wifi hotspots rampant), and carry an unlocked cell phone into which they can insert a local SIM card for calls. Other people like online services like Skype or Google Voice for phone calls, which can be tied into your cell phone (in a variety of ways) for ease of use.

8. GPS

GPS is especially handy if you are navigating a foreign city in a car. If you don't have GPS capability with your smart phone, getting a small GPS device can save you time on the road, and is often equally handy at home too.

Computer Gear

9. Laptop

Although this may seem like stating the obvious, the big question at this point is what kind of laptop you want to travel with. From Toughbooks for tough travelers, to UMPCs (Ultra Mobile PCs) and Netbooks for light work, there is a wide range of laptops you can travel with.

10. USB Drive / External Hard Drive

USB drives are a great way to have a back-up of those important documents handy, just in case something goes wrong with your laptop along the way. They are also great for storing presentations if you plan to use somebody else's machine at your destination.

Selection ranges from mini USB sticks that fit on a necklace cord and store a few gigabytes of information, to external hard drives that are large enough to back up your laptop three times over. It is recommended that you keep your USB drive(s) separate from your laptop; if one is lost or damaged, you still have the other as a backup.

11. Wireless Mouse

Having a wireless mouse reduces the number of cords you need to carry, and (for most people) increases work efficiency over using your laptop's touch pad. You can even get mini versions of the wireless mouse to reduce space and weight. A close second to the wireless mouse is one with a retractable cord for ease of storage and use.

12. Extra / Extended Life Battery

You don't always have access to a decent power source while traveling. Increase work efficiency by investing in an extended life battery for your laptop, or by carrying an additional battery.

13. Internet

These days getting an Internet connection on the road isn't difficult. Many business travelers now insist on free wifi access at their hotels so they can stay on top of work. Some rooms also have high-speed cable internet connections, which tend to be more secure. Be sure to ask your hotel what they offer; for some business travelers, it is a deal-breaker.

14. Laptop Bag

The variety of laptop bags you can choose from make this seemingly basic item a little more complicated. Although the neoprene laptop sleeves are slim and compact, they don't do much for protecting your machine against bumps along the way, and there is little room for cords, adapters, and other plug-in devices. With increasingly stringent carry-on guidelines for flights, you will want your laptop bag to be practical enough to carry the majority of your electronics in one convenient place.

15. Luggage

If your business trip is short in duration, it is nice to fly with nothing but carry-on luggage. However beware of recent (and ongoing) changes to the airline security process, along with some changes to carry-on baggage allowances. Some airlines will only let you bring one bag on the plane with you (believe it or not some restrict even that), so don't get too attached to your carry-on entourage if you tend to err close to former carry-on limits. Instead, focus on clever organizers to keep the volume of your luggage low.

Miscellaneous Items

16. Noise-canceling headphones

These are great for drowning out distractive noises on the road so you can concentrate on work or get some sleep, while listening to your favorite tunes or watching on-board movies. Using regular headphones doesn't achieve this as readily, unless you turn the volume up so loud that everybody else has to listen to your music as well. (Please don't!)

17. Screen Protectors

Another great item for home as well, screen protectors for your smart phone, camera, and other screen surfaces will ensure the long life of your electronics. Travel in particular can entail a more substantial beating on your belongings, as they tend to get crammed into bags where they may rub up against abrasive items.

18. Recovery ID Program Labels

Recovery ID program labels are attached to your items and registered with your information. If your item is lost, the finder can follow the instructions on the highly visible label and call the number or go online to report your item lost. The recovery program in turn contacts you and arranges for the return of your item.

Not only do these labels help you recover lost items, but they're also usually tamper-proof, making it difficult for a thief to remove the label and resell stolen items. If you resell the item yourself, you can deregister it from your name and your buyer can enjoy the service by registering it with their own information.

Here are a few Recovery ID programs to choose from:

What are your own must haves for business travel?

Ask the Readers: Save Money on Rent? (Chance to win $20!)

Linsey Knerl — Tue, 16 Mar 2010 18:29:59 +0000

By Linsey Knerl

We get a lot of email asking us about apartment-hunting, rental properties, and finding cheap (but lovely) places to rent. As a farmgirl with only a couple of years' experiences in the "rental market," I'm pleased to say I haven't really had to deal with it much. I know that our readers, do, however. What are your tips for finding cheap rent? Do you have stellar solutions for making the most of each square foot? Or maybe you have some advice for getting back your deposit?

We'd love to hear what you have to say. You are the experts! Share your thoughts, either below in the comments or on Twitter, and you could be entered to win one of two Amazon gift cards!

Win a $20 Amazon Gift Certificate

We're doing two giveaways — one for random comments, and another one for a random tweets.

How to Enter:

Post your answer in the comments below, or
Tweet your answer. Include both "@wisebread" and "#WBAsk" in your tweet so we'll see it and count it.

If you're inspired to write a whole blog post, please link to it in the comments or tweet it.

At the end of the drawing, we'll update this post to include (and link to) all of your helpful responses.

Giveaway Rules:

Contest ends Friday, March 19th at 11:59 am CST. Winners will be announced after March 19th on the original post and via Twitter. Winners will also be contacted via email and Twitter Direct Message.
You can enter both drawings — once by leaving a comment and once by tweeting.
Only tweets that contain both "@wisebread" and "#WBAsk" will be entered. (Otherwise, we won't see it.)

Good luck!

Permalink | 46 comments | Linsey Knerl's blog | Channel: Giveaways

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5 Reasons Tax Prep Software May Be Right for You

Linsey Knerl — Tue, 16 Mar 2010 17:55:16 +0000

By Linsey Knerl

I’ve been doing my own taxes for about 5 years now. Even as my needs have changed (I’ve gone from a simple 1040EZ to a more complex small business partnership structure), I’ve found that the tax software available on the commercial market has grown to meet my needs. Here are the most compelling reasons you may also want to give it a go!

The following tips are taken from my recent guest post at My Life Scoop, and feature just a few of the five reasons why a tax software product may be right for you!

Affordability

I grew up in a home where taxes were dreaded for many reasons. In addition to the worry that our small farming operation would owe money to the government at the end of the year, there was also the anxiety that came from stressing about how much the tax office would charge. With tax prep software, it’s not only usually more affordable to do some of the most common tax tasks, it’s also no surprise when the bill comes.

Tax software usually starts out with a free version, and while it offers to “upsell” you to pricier versions that are designed to handle more complex tax codes, you’ll know about these pricing changes ahead of time. There should be no shocker on what you’ll owe the tax software company. (We just wish we could say the same about the IRS.)

Tax Filing for EVERYONE

Not everyone resides in the heart of a bustling city, near a shopping mall, or even in a 50-mile radius of an independent prep office. For this reason, tax software is an increasingly appealing option for anyone who finds it inconvenient, or altogether impossible, to get in and get the job done.

While we know that there are still old-school tax filers who get a rush from making an appointment with their tax attorney or scooping up scads of forms from the local public library, there are many more who would prefer to stay home, save their gas money, and sip some home-brewed coffee while doing their taxes. Preparation software knows no geographical limits, and therefore, is a popular choice for both the busy and the displaced.

Check out my full guest post on Life Scoop to see all five expanded reasons for giving tax software a try!

Permalink | Comments | Linsey Knerl's blog | Channel: Personal Finance

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Cheapest Ways to Get Your Caffeine Fix

Sonja Stewart — Tue, 16 Mar 2010 16:24:01 +0000

By Sonja Stewart

If you absolutely have to have your caffeine fix to start your day, maybe you've wondered if there was a cheaper way to do it. You've already cut out the ever-popular “Starbucks Latte factor,” now you're wondering if chewing coffee grinds may be able to squeeze out a little extra cash at the end of the month while still giving you that rush.

I know it sounds like I'm pushing the last legalized drug in the U.S., but you're going to drink it anyway. At least I can help you hang on to some of that dwindling retirement fund while you search the classifieds for the next job. (Man, that sounded depressing.) So without further ado, the list of cheapest, I mean, “least expensive” ways to get your caffeine intake.

1. No Doz

This is the secret that cross-country truckers have known about for years. No Doz packs a punch that will keep you going...and going...and going...And at only 0.0008 cents per milligram of caffeine, you can save some of those extra pennies for the ER room after you've had an anxiety attack.

2. Tetley's Black Tea

This British favorite is priced so low, they have it twice a day. What made Churchill so staunchly great? It's the tea, dear. At less than a dime a tea bag, it brings the caffeine cost at 0.0011 cents per milligram. That's so low, it's practically free. God save the queen...and your cash.

3. Excedrin Extra Strength

Got a migraine or a midterm? Look no further than Excedrin Extra Strength. At 0.0015 cents per milligram, you can stay awake, lose the headache and afford to keep your accountant.

Here's the list in full, from least expensive to most expensive These are based on prices that are not on sale, and of course can vary from region to region.

How Much Caffeine Costs

No Doz (0.0008 cents per mg)
Tetley's Black Tea (0.0011 cents per mg
Excedrin Extra Strength (0.0015 cents per mg)
Starbucks Grande Coffee (0.0056 cents per mg)
Starbucks Grande Iced Coffee (w/o Ice) 0.0059 cents per mg)
Mountain Dew (0.0090 cents per mg)
Starbucks Grande Iced Coffee (w/ Ice) (0.0097 cents per mg)
Diet Coke/Tab (Tie) (0.0104 cents per mg)
Dr. Pepper (0.0111 cents per mg
Midol Maximum Strength (0.0113 cents per mg)
Sunkist Orange Soda (0.0116 cents per mg)
Pepsi (0.0129 cents per mg)
Starbucks Double Espresso (0.013 cents per mg)
Coke (0.0140 cents per mg)
Monster Energy Drink (0.0149 cents per mg)
Full Throttle Energy Drink (0.0159 cents per mg)
A & W Cream Soda (0.0169 cents per mg)
Starbucks Grande Latte/Single Espresso (Tie) (0.0200 cents per mg)
Barq's Rootbeer (0.0213 cents per mg)
Starbucks Grande Tazo Chai Tea Latte (0.0355 cents per mg)
Rockstar Energy Drink (0.0374 cents per mg)
Snapple Iced Tea (0.07 cents per mg)

Starbucks double brews their iced coffee, so you get double the caffeine if you tell them to hold the ice. See How Much Caffeine Is In That? to get caffeine content in your favorite drinks, food, and medicines. Remember, ingest caffeine responsibly. Although I only measured energy drinks for caffeine, some of them have other, more exotic ingredients to give you a boost. Although No Doz is the cheapest, I'll stay away from the stuff. The last time I took it, I was a college freshman, working full time and studying for exams. I don't remember everything that happened that week, but I ended up babbling incoherently about Socrates, Australopithecus, and Rothko at a local Starbucks. Hey, at least I got a great G.P.A.!

Permalink | 18 comments | Sonja Stewart's blog | Channel: Food and Drink

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Best Deals for Tuesday 03/16/2010

Linsey Knerl — Tue, 16 Mar 2010 14:33:25 +0000

Sunglasses up to 75% off: Spy Optic, Juicy Couture, Roxy, more

Body Champ IT8070 Inversion Therapy Table for $100 + free shipping

75% off Superman, Batman, more at WBShop: Deals from $4 + free shipping

$5 Magazine Sale: Esquire, Redbook, Seventeen, more

FREE Sample Mega Mystery Stride Gum

The Debate Between Buy and Hold vs Timing The Market

Silicon Valley Blogger — Tue, 16 Mar 2010 14:00:02 +0000

By Silicon Valley ...

It's interesting to see that with the advent of computerized trading and value discount brokers, a new era of people investing with the idea of getting rich overnight has exploded, even as statistics show that most short term investors do not make money over the long term. This is in the heart of an interesting debate that rages on in financial circles: should we buy and hold on to our investments for the long term or is timing the market the way to go?

The buy and hold faction is quick to say that you'd be crazy to think you can beat the market over time, and that an eye on the long term is how you're going to make money via the stock market. But the other side — those market timers who've decided to cut their teeth on stock and options trading via their trusty TradeKing accounts — make the point that many investors who've held on to their investments are now lamenting that as a result of buy and hold, they'll need to be part of the work force for quite a bit longer than they expected.

A Closer Look At Buy And Hold

Let's take a closer look at buy and hold investing, shall we? So how about a quick game of one question Jeopardy: “the most famous buy and hold investor?” If you answered, “who is Warren Buffett?” then congratulations, you know your investment gurus! Warren Buffett is not only one of the most famous investors around, but also one of the most successful investors in history. Buffett is a market mover whose track record has been scrutinized by the investing public. When asked how long he intends to hold his chosen stocks, he gives a somewhat surprising reply, "we will hold stocks forever." And while this sounds somewhat extreme, he's also been extremely successful with employing a value investing stance over time.

The buy and hold proponents argue that predicting short term market moves is nearly impossible, and according to them, you can expect long term investing to give you much better results. But what about the recent stock market debacle that's decimated many a long term portfolio? While recent stock market numbers don’t look great, if you ask nearly anybody who has been involved in buy and hold investing, they will tell you that while their portfolio has decreased in value, it’s still up significantly from when they first opened their investment broker account, even after taking inflation into consideration. The key to this positive outcome lies in the assumption that you started investing a long time ago, when assets, in general, were quite cheap.

The World of Market Timing

The market timers and stock traders take the short term approach. These folks enjoy online stock trading, believing that they can make short term investments and predict those small day to day stock price changes well enough to make a decent profit over time. They use technical indicators and other economic data to make their educated predictions. When their trading dashboard numbers flash green, they quickly sell their positions to bag a profit. Their stance here is that by buying and selling quickly, they quickly lock in a profit and feel more in control of their financial destinies. Turn on any of the financial news networks and you'll find that many of the analysts here are short term traders who are trying to time the market. There are shows on these networks that sometimes spend an entire hour or more asking the question, “what will the market do tomorrow?”

Best Moves For The Average Investor

We can certainly appreciate the great arguments made on both sides, but I believe that for the average investor, it's best to stick with the long term investment approach. This would entail diversifying, developing a decent asset allocation that fits your goals and requirements, and owning mutual funds, index funds, or ETFs over a period of time. Over the long term, buy and hold investing coupled with a regular portfolio rebalancing strategy has proven to be a more successful approach for the retail investor. Stock market timing has tended to work out relatively better for institutional investors or traders with deep pockets because of their ability to hire professionals, obtain top resources, and use advanced strategies that often require experience and larger amounts of money to succeed. Now there are, of course, investors such as myself who employ both methods but with varying degrees of involvement: I have a core investment portfolio of mutual funds but on occasion, will dabble in some individual stock picking and market timing with my "mad money." What's important here is that regardless of which approach you take, you accept and are fully aware of the financial risks you are taking.

While I would stop short of offering a hard and fast position on this debate, I'll say this: any investor has heard that the stock market rewards patience. So take a look at your portfolio. If you have done well with your current strategy, then stick to what you've been doing; but if your results are flat or negative, perhaps you should try something new and consider beefing up your investment knowledge. After all, aren’t we all doing this for one reason? We all want to make money!

Permalink | 2 comments | Silicon Valley Blogger's blog | Channel: Investment

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The 7 Laws of Negotiation

Kentin Waits — Mon, 15 Mar 2010 17:00:06 +0000

By Kentin Waits

Sometimes, it takes an economic downturn for folks to rediscover a lost art. I've heard all the buzz lately about people beginning to negotiate the price of everything from new shoes to cell phone plans. When we see companies slashing prices and luring us in with incentives and other goodies, we rightly begin to wonder just how firm the price was in the first place. Finally, America is taking the haggle out of the used car lot and applying it a bit more liberally.

For some of us though, the art was never lost, and we constantly marvel at how readily some folks hand over cash before employing a few simple and time-honored "tools of trade." Over the past couple of decades, I've distilled successful negotiating down to seven key principles that can help the newbies out there and serve as a refresher to those who might be getting rusty:

1. Come prepared.

Never begin to negotiate on the price of an item that you haven't researched and understand the value of. In order to get the best deal, it's essential to know what the market supports for the item in your area. Ask yourself: is it a good deal to begin with? What have other items like it sold for recently? How is this one better or worse? What's my ideal price and what's my maximum price?

2. Be polite.

Negotiating should be less of a battle and more of a dance. Have a conversation with your seller, kick the dirt, and find some common ground. Realize that both parties have an investment in the outcome, and that a happy seller is as important as a happy buyer. Sellers who leave feeling like you drove a hard but fair deal will be more likely to "dance" with you again.

3. Don't make the first move.

This is where a bit of psychology comes in. If you're in a situation where the price of an item is not stated, let the seller toss out the first number. Whoever quotes this magic figure first takes the most risk in negotiation — is the price so outlandish that the seller has alienated the buyer? Is it so low that he could have gotten twice that amount? If you can't avoid naming the first price, opt for a fair, if slightly low-ball offer. Remember, you can always increase your offer, but decreasing it is like trying to unlay an egg.

4. Time it right.

Don't start haggling the minute you meet your seller...or worse, on the phone or in email. A few months ago, I was selling some antique furniture and advertised one piece online with the photo and price. I got three calls within an hour from folks asking me to come down on my price before they even went to the trouble of coming over to see it. This method is tactless and shows little skill and even less effort.

5. Get creative.

Negotiating on price is the most obvious way to employ your skills, but there are many other things that can tip the deal in your direction. Don't get stuck on dollars and forget other factors that can equal dollars. If the item is large and hard to move, ask the seller to include delivery. How about a few lessons on how to use that guitar instead of the $20 discount you're looking for? Maybe that cell phone carrier would include a free car charger and earbud to win your business.

6. Be able to walk away.

If you're working hard on a deal that you believe just isn't going your way, be prepared to politely wrap things up and walk away. Remember, in the game of negotiation, walking away is the ultimate card to play, so don't overplay it or play it before you're ready. Typically, seeing a potential buyer heading toward the door will motivate most sellers to make a deal.

7. Flash the cash.

If you've gone to all the trouble to close a sweet deal, don't spoil the moment by not having cash in-hand. Remember, cash is still king — showing up with the green is a huge bargaining chip in itself. Leaving to hit the ATM gives your seller time you don't want him to have — time to reconsider or get a better offer. Oh, and while we're on the topic, have exact change. There are few things that show worse form than explaining your tight financial circumstances to a seller and then sorting through your c-notes to pay for that $40 bicycle. Think in advance and expect success — have the money ready.

In the end, experience will teach you a lot and give the extra bit of courage needed to start the conversation about price. You'll be surprised how flexible most pricing is and soon learn to see opportunities that you didn't before. Even traditional retail stores aren't above a bit of "creative pricing" especially if they're locally-owned and it's near the end of the month or the sales quarter. Remember, be bold and follow the strategies above for a lifetime of rewarding negotiation.

Cash for Appliances: Get a Cash Rebate for Buying New Appliances

Xin Lu — Mon, 15 Mar 2010 14:00:02 +0000

By Xin Lu

Last year the Cash for Clunkers program gave out billions of dollars in rebates for purchasing new cars. This spring a smaller rebate program called Cash for Appliances is rolling out as part of the stimulus package. Consumers can get cash rebates for purchasing energy efficient household appliances to replace old appliances.

This program actually differs from state to state so you must check the Department of Energy's website to see what your state is offering. Right now several states already ran out of funding because it is turning out to be quite popular. For example, the information for Iowa says that the program started on March 1, 2010 in Iowa and ended later that day. However, there is still time for residents of many other states where the program has not started yet. Nevertheless, it is best to check when the program is starting in your state and apply as soon as possible.

Unlike Cash for Clunkers, you do not have to turn in your old appliance to the store where you purchase something new, but some states do require that you show proof that you recycled the old appliance. Some other states simply encourage recycling or give a larger rebate if you show proof of recycling. Everyone participating in the program is supposed to be replacing an old inefficient appliance, so those who are buying a new appliance for a new home would not qualify for this program.

The new appliance must be Energy Star qualified and some states have more specific energy efficiency guidelines. For example, The Arizona Energy Office's rebate page shows that some models of appliances that are even more efficient than the Energy Star models can get a larger rebate. So once again you should read the details of your state's rules and go to the store with the criteria in mind. In most states this program is not retroactive, and that means you have to make your purchase once the program starts.

The amount of rebates differ from state to state. From what I have read so far most states are giving a fairly generous rebate even if the dollar amount seems small. This is because the rebates cover a good portion of the consumer's cost for the the appliance purchase. For example, if you buy a $400 washer and get a $200 rebate, then you are getting that washer for 50% off and that is a great deal.

The bottom line is that if you have an old appliance in your home that needs replacing then it is definitely worthwhile to look up the rules for this program and participate. You will be able to save a bit on the initial purchase of the new appliance and also save energy in the years you use it. Personally I think this rebate program will turn out to be much more beneficial to the environment than the Cash for Clunkers program at a smaller cost. This program is also much more accessible since appliances are a lot cheaper than cars.

What do you think? Will you be replacing your old appliances?

Permalink | 2 comments | Xin Lu's blog | Channel: Green Living, Shopping

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Best Deals for Monday, 03/15/2010

Linsey Knerl — Mon, 15 Mar 2010 14:00:01 +0000

ProFlowers Easter Flowers with vase from $20 + $15 s&h

Amazon DVD sale: The Green Mile, Ocean's 11, TMNT, more from $5 + $3 s&h

Dell Inspiron Mini 10 1.6GHz 10" Netbook w/TV tuner for $300 + free shipping

Free Redbox Code on St. Patrick's Day

Live Where the Water Tastes Good

Philip Brewer — Sun, 14 Mar 2010 17:00:02 +0000

By Philip Brewer

There's an old song, the "Michigan Water Blues" that starts, "Michigan water tastes like cherry wine." I grew up in Michigan, so the song always had a certain resonance for me, but I've lived other places where the water tasted good, and a few where it didn't. If you don't like the water where you live, you're all too likely to start buying bottled water or investing in a filtration system — neither a very frugal option.

Does it make sense to move somewhere just because you like the water? Probably not — just like it probably doesn't make sense to move somewhere just because they've got good public transit or because you can live within walking distance of work or because they have good public schools or because there are diverse natural areas nearby. But good-tasting water ought to be right up there with considerations like that.

Healthy water, of course, is an even more important consideration. But many people seem to think that bottled water or filtered water will somehow be magically safer than well water or water from a public water system. The fact is, though, there's no reason to think that filters make water any safer — unless you know there's something bad in the water and that your particular filter is the right kind to remove it. And bottled water is definitively less healthy — you've got whatever was in the water when it was bottled, plus the chemicals that leach out of the plastic the bottle is made of.

If you're really worried about the safety of your water supply, it would make more sense to investigate whether it's safe or not. You can start with the Centers for Disease Control Drinking Water page. It covers public water systems, private wells, springs, drinking water for campers, bottled water, and so on. Public water systems in the US are required to publish their water quality test reports. Start with the EPA's Public Drinking Water page.

For most people, though, filtration systems and bottled water are an aesthetic choice — they like the taste better. And if that's all it is, a much cheaper option is to evaluate the taste of the water the next time you're thinking about moving. If you don't like it, put the cost of a filtration system down in the minus column for that location.

And, if you're free to live wherever you want, think about moving to Michigan, where the water tastes like cherry wine. (The water in Champaign is pretty good too.)

Permalink | 27 comments | Philip Brewer's blog | Channel: Food and Drink, Green Living, Health and Beauty

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Join Our Special Saturday Tweetchat at 12:30 CST For a Chance to Win Prizes

Will Chen — Sat, 13 Mar 2010 06:34:15 +0000

By Will Chen

Join our special Saturday edition Tweetchat from 12:30 - 1:30 pm CST for a lively conversation and a chance to win a $20 gift certificate! We'll be tweeting live from SXSW. Use #SXSW and #bloggercred to participate. Topic: How do you measure blogger credibility? Featuring special guest FTC attorney Stacey Ferguson (@justiceFergie).

Best of Personal Finance Roundup: How to Be a Cheap Drunk with Taste

Linsey Knerl — Fri, 12 Mar 2010 18:00:01 +0000

By Linsey Knerl

Welcome to Wise Bread's Best of Personal Finance roundup. Today, we spill some tips for sipping wine and other spirits for a little less than what you'd expect. Plus, we share the benefits of raised garden beds, a quick and cheap hurricane lamp tutorial, and habits for highly effective budgeting!

Don't Have Enough To Pay Your Taxes?

Debbie Dragon — Fri, 12 Mar 2010 17:00:01 +0000

By Debbie Dragon

What do you do when you finally get all of your information together to file your income taxes, and you find out that not only aren't you getting a tax refund, but you actually have to pay taxes?! It's not a problem if you have enough money set aside to pay it off, but for people who don't have enough money in their bank account to pay their taxes, this can be a very scary experience.

First of all, you don't need to panic. You are not the first (or the last!) person to owe the IRS money and not have access to the money immediately to pay them back. Here are some tips for paying your taxes when you don't have the money readily available.

File your taxes on time.

Even if you owe a ton of money and have no idea where you'll get it, you need to file your taxes on time (including filing for an extension). If you send your information in late, you'll be adding fees and penalties to the amount you owe. If you decide not to file your taxes at all — you'll be looking at criminal charges.

Check all resources.

Take a look in all of your savings accounts and investments to see if there is any way you can come up with the money to pay your taxes. Think about friends or family who may be able to lend you the money.

Get an installment plan.

The IRS can also help you set up a payment plan if you can't pay for your taxes in one lump sum. When you file your return, you'll receive a letter from the IRS that states how much you owe. Begin saving money and looking for ways to pay your taxes. If you know for sure you won't be able to pay your taxes in a lump sum, ask the IRS for the installment plan. You can indicate how much you feel you can afford and as long as you will pay off the balance in a 12 month period, the IRS will usually grant you an installment plan. Having an installment plan will cost you additional money in fees, but it gives you an opportunity to pay it over time.

Apply for Offer of Compromise.

If you get turned down for the installment plan with the IRS, you might consider the Offer of Compromise. This lets you make a one time payment or schedule several payments over time but is a much more involved process than asking for an installment plan. It also costs $150 to apply and each person is evaluated individually based on their financial situation. You are not guaranteed approval even if you pay the $150 application fee so you will want to try the installment plan option first.

If you owe money to the IRS, the worst thing you can do is sit back and hope it goes away. The longer you wait, the harder it will be to pay it because the penalties and fees will continue to add up. The best you could hope for after waiting and hoping it will all go away is a tax settlement of some sort! You need to establish a plan of action that works for your financial situation right now, and follow through with it until the amount you owe is paid in full.

Permalink | 6 comments | Debbie Dragon's blog | Channel: Taxes

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4 Deadly Mistakes You Must Avoid When Pursuing Your Dreams

Henri Junttila — Fri, 12 Mar 2010 15:00:01 +0000

By Henri Junttila

In my last post I wrote about how you can find your passion, but today I want to focus on the mistakes people make while going after their dreams. If you can identify with any of these mistakes, you might want to get it corrected as fast as possible. It will help you get back on track to moving towards making your dreams a reality instead of moving away from them.

We often get stuck in arbitrary things. We make excuses. We try to find shortcuts, and we try to do all these things that in the end only prevent us from reaching our goals. If you're really serious about pursuing your dreams and making them real, then you may want to read on...

1. Stopping at Uncomfortable

When you start something new, it will be scary. If you are serious about finding, following, and making your passion(s) and dream(s) a reality, you will have to deal with fear. You will have to accept that being uncomfortable means growing as a human being and making progress towards your goals.

I'm not talking about being physically uncomfortable, such as sitting on your leg until it falls asleep. I am talking about being emotionally uncomfortable. Being afraid to take the next step because you don't know what lies behind the next turn. Your journey will be unique, so you will have to learn how to deal with this yourself.

Look at it as driving a car: you know your destination (most times), but you can't see beyond the next bend. You still know where you're going, but you just can't see it.

2. Looking for Shortcuts

A lot of people are looking for shortcuts. They are looking for that one thing that will make them catapult to the front of the line and eliminate years off their learning curve. I'm sorry to say this, but it doesn't work that way. If you want to create your dream life and live out your passion(s), you will first have to find your passion and then take action to make it happen. (If you love gardening and want to teach other people how to do it, for example, that's excellent, and you can make a living doing that if you really want to.)

Remember, there's always room for those that are willing to go the extra mile. Stop looking for shortcuts and start using what you have. There are no magic bullets out there that will do it all for you. You will have to learn. You will have to work hard and you will have to make mistakes and learn from them.

3. Waiting for Perfection

I'm so guilty of this one. I used to be the worst perfectionist. I still am to a certain degree, but I'm more aware of it now. I am able to let things be imperfect without going crazy.

You don't have to wait for the stars to align or for someone to give you permission to go after your dreams. Most people blame their circumstances for not allowing them to make their dreams a reality. This is a big mistake. If you want to live your dream life, do what you love and change the world, you will have to take matters into your own hands and make a change.

You can always start somewhere. Don't worry about not knowing what to do. All you have to learn is what to do next. (Maybe you need to start a blog. Do a simple Google search for that, and you'll find plenty of tutorials. Maybe you will even fail at blogging and learn that you like something else instead.) It's all a part of the process. Successful people didn't become successful overnight, although that is what it usually looks like. They often failed over and over again until they found what worked for them.

4. Failing to Listen to Your Heart

Your heart knows things. Your mind...not so much. Your mind worries, it analyzes, it judges, and it does all those things that can easily take over your life. Now, I'm not saying that the mind is bad, it's just a tool, but it has become a bad thing in most people's lives because it has taken over. Many refer to this as the Ego, the Id or whatever you like to call it.

Your heart, on the other hand, will let you know when you're on the right path. You will feel good when you're following your passion. You will feel awesome when you're heading in the right direction, and you will feel blissed out when you realize that you have a whole guidance system inside of you that is perfect for you. (But remember, you also have to understand your emotions, because your heart may be trying to tell you something and you may be blocking it with fear or a surface emotion.)

If you want to pursue your dreams, start by finding your passion, then thinking about how you can make it real, and then taking action. It's really that simple. If you want to slow yourself down, then go ahead and pick one of the deadly mistakes above.

But know this: you are here for a reason. You are here to have a positive impact on this planet. You know that thing that you feel in your heart that you've always wanted to do? I'm here to tell you that you can do it, if you really want to. So what are you waiting for?

Book Review: On a Dollar a Day

Xin Lu — Fri, 12 Mar 2010 14:00:02 +0000

By Xin Lu

Could you survive on one dollar's worth of food per day? Vegan high school teachers Kerri Leonard and Christopher Greenslate endured a one month experiment where each of them consumed one dollar of food per day. In On a Dollar a Day: One Couple's Unlikely Adventures in Eating in America (affiliate link), they described their experience and an array of social issues relating to the cost of food.

The book is divided into three sections detailing the three food spending plans the couple chose. The first section detailed their month of eating on a dollar a day, the second describes their experiment in eating on the average food stamp recipient's allotment, and the third is where they had no spending restrictions but tried to eat more healthily. Each section has alternate chapters written by Leonard and Greenslate.

The first experiment of eating on a dollar a day was actually quite difficult to read because this couple was obviously torturing themselves. Although they say that they were able to eat an adequate portion, there were many passages where they described their hunger and stress while on this plan. One rule they set was that they would not eat any food they can get for free unless everyone else has access to it. Due to this rule they did not eat the free foods they had access to at work and other venues, and I thought that was silly because any of those leftover free foods were probably wasted.

The second section of the book describes how the vegan couple tried to follow the Thrifty Food Plan recommended by the USDA and live on a little over $4 per day for a month. They fared a lot better on this, but found that it was still difficult to eat in a very healthy manner because nutritious and fresh foods cost more than processed foods with plenty of calories. This reminded me of Philip Brewer's excellent post The new face of poverty is fat where he writes about why poor people are obese.

The final section of the book focuses on eating for health, and it also seems like the couple have become more savvy shoppers after their months of challenges. The conclusion is that they found that it was possible to plan healthy and delicious meals that do not cost very much.

What I found most entertaining about this book was how these food plans affected the relationship between the authors. It was Greenslate's idea to start the original project, and Leonard played the part of a supportive girlfriend. However, later on it was clear that Leonard was doing most of the work in planning and preparing these meals, and it took a toll on her. Greenslate briefly wrote about how the preparation of food from the grocery store to the table is traditionally the work of women, but I think it would have been more interesting if Leonard wrote her thoughts on the subject.

Finally, there is a short chapter in the book about how to save on food, but those who want to live on a dollar of food a day will not find this book to be a very good guide. Although I felt that the one dollar a day food challenge was a bit forced, I do like the message in the book that you can eat healthily on a small budget. If you want to read more about the project, the authors have a blog at One Dollar Diet Project where they write about food related issues

Disclosure: I received a free review copy of this book and this post contains an affiliate link.

How much do you spend on food each day?

Permalink | 11 comments | Xin Lu's blog | Channel: Food and Drink

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Best Deals for Friday 03/12/2010

Linsey Knerl — Fri, 12 Mar 2010 13:35:43 +0000

Mrs. May's Trio Bar Variety Pack, 1.2 Ounce Bars (Pack of 20) $12

Restaurant.com 80% off gift certificates with code BITE

Heroes - Season Three on DVD $17

The White Stripes "Elephant" MP3 album download for $3

FREE Mango Pinkberry March 12th

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Don't Have Enough To Pay Your Taxes?

File your taxes on time.

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Get an installment plan.

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1. Stopping at Uncomfortable

2. Looking for Shortcuts

3. Waiting for Perfection

4. Failing to Listen to Your Heart

Book Review: On a Dollar a Day

Best Deals for Friday 03/12/2010