Have you ever opened a gift and felt highly disappointed? How many of you have made trips to stores after Christmas to return those gifts that just weren't for you? If you answered yes to any of these questions, you are not alone. The day after Christmas is rapidly becoming one of the busiest days at retail stores due to gift returns alone. But how much are you really getting back when you return an item?
The Massachusetts Consumer Affairs office conducted a survey in which more retailers are charging restocking fees for items returned if they're opened or not in their original packaging. Most companies charge restocking fees anywhere from 10-25% of the product price, with some retailers charging as much as 60% in restocking fees!
Retailers can charge these restocking fees on anything sold including electronics, jewelry, appliances, tools, and clothes. To avoid this fee, simply don't open the package if you know you don't want what's inside. Also, always make sure you know the return policy and the restocking fees when purchasing gifts for others.
Resources:
http://money.cnn.com/2009/12/16/pf/saving/returning_gifts/index.htm
Wednesday, December 16, 2009
Tuesday, October 27, 2009
Get your Money's Worth When Purchasing a Vehicle
Consumer Reports recently updated its top ten most reliable cars list and a great list it is! While Asian automakers continue to dominate the charts, American automaker Ford received great ratings for its consistent reliability and prices. So the next time you are searching for a new vehicle to purchase, make sure it is reliable, affordable and enjoyable. After all, you want to get your money's worth! Check out the list of the top ten most reliable cars:
1. Honda Insight
Sticker price: $19,800 - $21,300
Mileage: 43 mpg Hwy, 40 mpg City
2. Toyota Prius
Sticker price: $21,000 - $27,670
Mileage: 48 mpg Hwy, 51 mpg City
3. Infiniti M35
Sticker price: $45,800 - $45,800
Mileage: 23 mpg Hwy, 16 mpg City
4. Lexus SC
Sticker price: $67,505 - $67,505
Mileage: 23 mpg Hwy, 16 mpg City
5. Toyota Venza (4 cylinder)
Sticker price: $26,275 - $29,550
Mileage: 29 mpg Hwy, 21 mpg City
6. Honda CR-V
Sticker price: $21,545 - $27,745
Mileage: 28 mpg Hwy, 21 mpg City
7. Toyota FJ Cruiser
Sticker price: $23,680 - $25,270
Mileage: 21 mpg Hwy, 17 mpg City
8. Mercedes-Benz GLK
9. Toyota Sequoia
Sticker price: $38,530 - $58,905
Mileage: 19 mpg Hwy, 14 mpg City
10. Toyota Tundra V6
Mileage: 19 mpg Hwy, 15 mpg City
Sources:
http://money.cnn.com/galleries/2009/autos/0910/gallery.consumer_reports_most_reliable_cars/index.html
1. Honda Insight
Sticker price: $19,800 - $21,300
Mileage: 43 mpg Hwy, 40 mpg City
2. Toyota Prius
Sticker price: $21,000 - $27,670
Mileage: 48 mpg Hwy, 51 mpg City
3. Infiniti M35
Sticker price: $45,800 - $45,800
Mileage: 23 mpg Hwy, 16 mpg City
4. Lexus SC
Sticker price: $67,505 - $67,505
Mileage: 23 mpg Hwy, 16 mpg City
5. Toyota Venza (4 cylinder)
Sticker price: $26,275 - $29,550
Mileage: 29 mpg Hwy, 21 mpg City
6. Honda CR-V
Sticker price: $21,545 - $27,745
Mileage: 28 mpg Hwy, 21 mpg City
7. Toyota FJ Cruiser
Sticker price: $23,680 - $25,270
Mileage: 21 mpg Hwy, 17 mpg City
8. Mercedes-Benz GLK
9. Toyota Sequoia
Sticker price: $38,530 - $58,905
Mileage: 19 mpg Hwy, 14 mpg City
10. Toyota Tundra V6
Mileage: 19 mpg Hwy, 15 mpg City
Sources:
http://money.cnn.com/galleries/2009/autos/0910/gallery.consumer_reports_most_reliable_cars/index.html
Tuesday, October 13, 2009
Save $1000 by the Holidays
A coworker of mine recently forwarded me a wonderful article with tips and tools on how to save $1000 by December. The best part about this article, is that you won't even notice the small amounts of money that you are setting aside each month. According to Yahoo Finance, there are six simple tips to start following to avoid holiday debt next year. Practice these tricks for the months of October and November, and you could have $1,000 saved by December:
1. Adjust your tax withholding. The average tax refund last year was about $2,700. If you got a refund, that means you paid Uncle Sam too much money! Keep it for yourself to add to your holiday savings instead. You simply need to change your tax withholding by filing a new W-4 with your employer's human resources department. The changes will go into effect on your next paycheck.
Two months of savings = $450 (based on the average refund)
2. Take fewer trips to the grocery store. Make biweekly larger shopping trips so that you can stick to your budget. This will eliminate impulse buys. If you spend $10 each trip on impulse buys, and you visit the brochery store three times a week, that adds up to at least $120 extra each month. Shop with a list and think about what you'll need for the week in advance.
Two months of savings = $160
3. Kick a habit that is costly, yet not necessary. Perhaps it's those three Cokes a day, your lunches at Baggins, or your daily runs to Starbucks or workplace vending machine. Instead, bring a bottle of water, snacks and lunch from home -- and make your own coffee! Other tips include reading your magazines and newspapers online and walking the extra block to your bank's ATM to avoid paying the out-of-network fee.
Feeling extremely motivated? Look at bigger habits in your life that are costing you, such as gambling, smoking or even shopping as a hobby. You will be surprised as to how much you can save!
Two months of savings = $200
4. Eat out one less time per month. Dining out can be really expensive these days. But there's no need to go cold turkey. Resolving to eat at home just one time more per month than usual can make a big difference. Considering a meal at a casual dining restaurant costs about $20 per person, you would spend $80 for a family of four to eat out. Instead, you could cook a family meal at home for less than $20 total, saving you at least $60 each month.
Two months of savings = $120
5. Put on a sweater. For every degree you lower your thermostat, you save 5% off your heating bill, according to the Alliance to Save Energy. So on a $300-per-month bill, dropping your thermostat just two degrees and donning a sweater will save you $30 a month.
Two months of savings = $60
6. Examine your phone and cable use. Do you really need all those cable and movie channels? Drop your premium channels and you could save $15 per month or more.
Then there's your phone bill... Do you really need caller ID? Call waiting? Voice mail? Internet service on your cell phone? Dropping one or more of these extras could shave $5 to $50 off your phone bill. You might even consider dropping your landline phone service altogether in favor of your cell or a free online service like Skype. That could save another $20 to $50 per month.
Two months of savings = $100
Total savings by December = $1,090
1. Adjust your tax withholding. The average tax refund last year was about $2,700. If you got a refund, that means you paid Uncle Sam too much money! Keep it for yourself to add to your holiday savings instead. You simply need to change your tax withholding by filing a new W-4 with your employer's human resources department. The changes will go into effect on your next paycheck.
Two months of savings = $450 (based on the average refund)
2. Take fewer trips to the grocery store. Make biweekly larger shopping trips so that you can stick to your budget. This will eliminate impulse buys. If you spend $10 each trip on impulse buys, and you visit the brochery store three times a week, that adds up to at least $120 extra each month. Shop with a list and think about what you'll need for the week in advance.
Two months of savings = $160
3. Kick a habit that is costly, yet not necessary. Perhaps it's those three Cokes a day, your lunches at Baggins, or your daily runs to Starbucks or workplace vending machine. Instead, bring a bottle of water, snacks and lunch from home -- and make your own coffee! Other tips include reading your magazines and newspapers online and walking the extra block to your bank's ATM to avoid paying the out-of-network fee.
Feeling extremely motivated? Look at bigger habits in your life that are costing you, such as gambling, smoking or even shopping as a hobby. You will be surprised as to how much you can save!
Two months of savings = $200
4. Eat out one less time per month. Dining out can be really expensive these days. But there's no need to go cold turkey. Resolving to eat at home just one time more per month than usual can make a big difference. Considering a meal at a casual dining restaurant costs about $20 per person, you would spend $80 for a family of four to eat out. Instead, you could cook a family meal at home for less than $20 total, saving you at least $60 each month.
Two months of savings = $120
5. Put on a sweater. For every degree you lower your thermostat, you save 5% off your heating bill, according to the Alliance to Save Energy. So on a $300-per-month bill, dropping your thermostat just two degrees and donning a sweater will save you $30 a month.
Two months of savings = $60
6. Examine your phone and cable use. Do you really need all those cable and movie channels? Drop your premium channels and you could save $15 per month or more.
Then there's your phone bill... Do you really need caller ID? Call waiting? Voice mail? Internet service on your cell phone? Dropping one or more of these extras could shave $5 to $50 off your phone bill. You might even consider dropping your landline phone service altogether in favor of your cell or a free online service like Skype. That could save another $20 to $50 per month.
Two months of savings = $100
Total savings by December = $1,090
Monday, October 5, 2009
Halloween Costume Savings Tips
Halloween is just around the corner, and with costumes, decorations, candy and gatherings, it can really add up! Halloween is a one night event, therefore it's ok to be frugal and watch your expenses for this particular night. Here are some tips to save money on Halloween costumes:
1) Be creative! Use old clothes, material, foil paper, whatever you have in your home to make a costume.
2) Borrow from a friend. Sometimes they have pieces you can borrow, and some friends may lend you the entire costume they wore last year.
3) Purchase unisex costumes for kids. That way when one kids outgrows it, the next one can use it!
4) Shop yard sales. A lot of people sell costumes that have only been worn once for $5-$10.
5) Shop after-season clearance sales. Costumes usually go on sale the night of Halloween of the following day. I have seen even 90% off of costumes the next day!
6) Shop online early! Most costumes are fairly priced in February or March. The early bird gets the work.
7) Check out thrift stores such as Savers. They sell some new and used costumes and accessories at excellent prices.
8) Wear a costume you wore three years ago. No one will even remember that you have already worn that costume.
9) Save between $5 and $10 every month starting in November so if you prefer to buy a new costume, you will have the means to do so without breaking the bank.
10) Remember you will be wearing this costume for one night! Have fun, be creative, but remember that your costume does not have to be elaborate or expensive for that matter.
1) Be creative! Use old clothes, material, foil paper, whatever you have in your home to make a costume.
2) Borrow from a friend. Sometimes they have pieces you can borrow, and some friends may lend you the entire costume they wore last year.
3) Purchase unisex costumes for kids. That way when one kids outgrows it, the next one can use it!
4) Shop yard sales. A lot of people sell costumes that have only been worn once for $5-$10.
5) Shop after-season clearance sales. Costumes usually go on sale the night of Halloween of the following day. I have seen even 90% off of costumes the next day!
6) Shop online early! Most costumes are fairly priced in February or March. The early bird gets the work.
7) Check out thrift stores such as Savers. They sell some new and used costumes and accessories at excellent prices.
8) Wear a costume you wore three years ago. No one will even remember that you have already worn that costume.
9) Save between $5 and $10 every month starting in November so if you prefer to buy a new costume, you will have the means to do so without breaking the bank.
10) Remember you will be wearing this costume for one night! Have fun, be creative, but remember that your costume does not have to be elaborate or expensive for that matter.
Tuesday, September 15, 2009
Auto Buying 101 Workshop
Join us for the TFCU Auto Buying 101 Workshop
This workshop will cover everything you need to know about the auto buying process from budgeting for a payment, choosing a dealer and insurance requirements.
When: Saturday September 26, 2009, 9:00 am - 10:30 am
Where: Tucson Realtors Association 2445 N. Tucson Blvd (Just north of Grant and Tucson Blvd)
RSVP: Jacquelyn Valdez, Financial Education Specialist (520) 322-7401 or emailjvaldez@tucsonfcu.com by Friday September 25, 2009
Thursday, September 3, 2009
Airline Priorty Boarding System
There is nothing more exhausting than waiting to board a flight at the airport. Between gold member card holders, diamond card holders, passengers with children and those that just check in online at exactly the 24-hour mark, it can take up to 20 minutes just to get on the aircraft.
Well the wait is finally over! According to Fox News, Southwest Airlines has introduced a new program that would allow passengers to purchase priority boarding. U.S. passengers may now choose the option "Early Bird Check-In" for a $10 fee, in order to allow them board with the priority passengers.
It appears that Southwest is hurting due to the economy and is exploring other ways to boost revenue. However, others have criticized Southwest for their decision to allow for priority boarding, suggesting they join the other airlines and charge passengers for the bags that they check in. Earlier in the year, Southwest announced that small pets could now travel on their flights for an $85 fee.
Will you take advantage of either of these new flight options?
Resources:
http://www.foxbusiness.com/personal-finance/lifestyle-money/index.html
Well the wait is finally over! According to Fox News, Southwest Airlines has introduced a new program that would allow passengers to purchase priority boarding. U.S. passengers may now choose the option "Early Bird Check-In" for a $10 fee, in order to allow them board with the priority passengers.
It appears that Southwest is hurting due to the economy and is exploring other ways to boost revenue. However, others have criticized Southwest for their decision to allow for priority boarding, suggesting they join the other airlines and charge passengers for the bags that they check in. Earlier in the year, Southwest announced that small pets could now travel on their flights for an $85 fee.
Will you take advantage of either of these new flight options?
Resources:
http://www.foxbusiness.com/personal-finance/lifestyle-money/index.html
Monday, August 3, 2009
Back-to-School Shopping on a Budget
Each August barbers, salons, malls and retail stores fill up as families begin their back to school shopping. From pencils and ruler, to haircuts and new shoes, back to school shopping can add up. Here are some tips to help you get the essentials, without spending more than you need to and can afford:
Reuse some of last year's supplies including backpacks and lunchboxes that are in mint condition.
Compare online prices with physical store prices. Online coupons and free shipping may get you a better deal online than in a real store.
Stick to a list. Buy only what’s necessary and stick with the basic model. Don’t be swayed by “great deals,” the hype of back to school, or the begging of your kids.
Plan your budget now. Don’t wait until three days before school starts to think about this. Go ahead and figure out how much you’ll need and start putting a little extra money away to cover it.
Start early. Buy a little at a time as you find sales, coupons, and great buys. It may be easier to buy everything in one trip, but that is rarely the most cost effective method.
You don’t have to buy a whole new wardrobe before school starts. Get one new outfit to “make a good impression” on the first day and let them wear other clothes the rest of the time. Buy new clothes as needed, not just because “it’s back to school.”
Look for freebies and keep them throughout the year in a “back to school” stash. How many times have you picket up free pens, pencils, memo pads, etc. from conventions, expos, or hotels? Keep them and put them to use when school rolls around.
Resources:
http://www.savingadvice.com/blog/2009/07/13/104827_back-to-school-shopping-on-a-budget.html
Reuse some of last year's supplies including backpacks and lunchboxes that are in mint condition.
Compare online prices with physical store prices. Online coupons and free shipping may get you a better deal online than in a real store.
Stick to a list. Buy only what’s necessary and stick with the basic model. Don’t be swayed by “great deals,” the hype of back to school, or the begging of your kids.
Plan your budget now. Don’t wait until three days before school starts to think about this. Go ahead and figure out how much you’ll need and start putting a little extra money away to cover it.
Start early. Buy a little at a time as you find sales, coupons, and great buys. It may be easier to buy everything in one trip, but that is rarely the most cost effective method.
You don’t have to buy a whole new wardrobe before school starts. Get one new outfit to “make a good impression” on the first day and let them wear other clothes the rest of the time. Buy new clothes as needed, not just because “it’s back to school.”
Look for freebies and keep them throughout the year in a “back to school” stash. How many times have you picket up free pens, pencils, memo pads, etc. from conventions, expos, or hotels? Keep them and put them to use when school rolls around.
Resources:
http://www.savingadvice.com/blog/2009/07/13/104827_back-to-school-shopping-on-a-budget.html
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