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Archive for July, 2008

How to Save Money When You Love Gadgets

Thursday, July 31st, 2008

Watching TVBeing a tech person means spending hard earned cash on first generation gadgets and devices, like the new Apple Iphone or the Kindle e-reader from Amazon. It’s hard to save money when your hobby revolves around expensive gadgetry. We’re not here to stop you from buying these must have items. We’re just here to show you how to save money in spite of these purchases, and maybe even on these purchases.

Growing up, we all heard of treasure maps. A treasure map promises fortune if you follow its steps precisely. We have a treasure map, but it works the opposite. We have a series of sites you can visit for coupons, deals, and information on tech trends — this will help you save money on technology, but also promises to lead to a better financial future.

Let’s assume you need a new printer. It doesn’t have to be anything fancy, nothing more than a $200 model. Knowing your target, you could begin your search for a deal by visiting www.slickdeals.net. If you don’t see anything printer related on the frontpage, you can visit the Hot Deals forum to look for printer specific deals. The Slick Deals site has been a favorite of mine for years, saving me hundreds on new Dell computers, gifts for family around Christmas, and on many other purchases.

If you fall short of a deal through SlickDeals.net, don’t worry — there’s many places to crack a price online. I’m sure you’ve all heard of eBay. I do recommend you look there for reputable deals. Be sure to check seller feedback and read the entire product description before bidding. Too many scammers nowadays.

A techie could always wait for generation two of a device, right? Wrong! There’s not too many ways to save on first generation gadgets. Some surveys claim you can get the item if you complete a survey and fill out three or six different offers. These usually do work, but you actually have to fulfill the requirements to the end point. They won’t ship until after you’ve met the offers through the first month. And then you’ll get your TV or phone, but after spending a few hundred on offers and waiting for months. Obviously, not the ideal situation.

If you do buy a new gadget, we encourage you to save money in other parts of your life. For instance, you could stop buying espressos for a month or trim the dining out costs for a while. Keep within your budget, look for deals, and soon you’ll be changing the shape of your financial future.

How to Pull Yourself out of a Debt Crisis

Friday, July 25th, 2008

Debt FrazzledThe Consumerist.com site reported on a NY Times article; the article described a woman who over the course of a few years had made several poor choices related to her finances. She amassed an incredible amount of credit card debt and has now lost her home to foreclosure. Her story may sound familiar. We may know others or even be suffering ourself from incredible debt due to credit cards or mortages. What can we do? The buck stops here, so to speak, so we need to hike up our pants and get across this impassable financial landscape.

When Fears Compound

The purchase of a small item on a credit card today can turn into a nightmarish figure by tomorrow. Take for instance a shopping trip to Best Buy. You purchase $75, putting it on your credit card with 12.9% interest. The purchase doesn’t seem so bad, right? In one month the interest would be close to a dollar. In one year, you would be paying ten dollars more for the one day’s shopping experience. Now calculate the cost of a higher balance card, assuming you shop more than one day a year, and you can easily see how credit card debt can tumble out of control.

According to the NY Times article, the average household has $8,565 in credit card debt, up 15% from 2000. Imagine having that much debt at the 12.9% interest rate, which is a dream interest rate for most people. Over a year’s time, those average Americans pay over $1,100 dollars in interest.

Learn How to Dig

I commonly hear those in debt claiming schools have not taught us enough about finance to actually make our money work for us. I think my high school Math teachers would disagree. More than likely, we do not take the time to realize the overall effect. As someone who has struggled to pull myself out of debt, it’s a long arduous road, but it can be done.

Although debt can be a slippery slope, many can and do overcome the obstacle and once again find debt relief. The tried and true methods include following a budget, paying more than the monthly minimum, and using cash to fulfill current needs.

We recommend a budget in many of our posts; we feel a budget can help you live the lifestyle to begin saving money and living a frugal life. A life on budget does not have to be boring or monotonous, and a debt free life comes without fear of interest payments.

Comment Questions

Did you pull yourself out of debt? How did you do it?

How to Save Money When You Love Gadgets

Friday, July 25th, 2008

Being a tech person means spending hard earned cash on first generation gadgets and devices, like the new Apple Iphone or the Kindle e-reader from Amazon. It’s hard to save money when your hobby revolves around expensive gadgetry. We’re not here to stop you from buying these must have items. We’re just here to show you how to save money in spite of these purchases, and maybe even on these purchases.

Growing up, we all heard of treasure maps. A treasure map promises fortune if you follow its steps precisely. We have a treasure map, but it works the opposite. We have a series of sites you can visit for coupons, deals, and information on tech trends — this will help you save money on technology, but also promises to lead to a better financial future.

Let’s assume you need a new printer. It doesn’t have to be anything fancy, nothing more than a $200 model. Knowing your target, you could begin your search for a deal by visiting www.slickdeals.net. If you don’t see anything printer related on the frontpage, you can visit the Hot Deals forum to look for printer specific deals. The Slick Deals site has been a favorite of mine for years, saving me hundreds on new Dell computers, gifts for family around Christmas, and on many other purchases.

If you fall short of a deal through SlickDeals.net, don’t worry — there’s many places to crack a price online. I’m sure you’ve all heard of eBay. I do recommend you look there for reputable deals. Be sure to check seller feedback and read the entire product description before bidding. Too many scammers nowadays.

A techie could always wait for generation two of a device, right? Wrong! There’s not too many ways to save on first generation gadgets. Some surveys claim you can get the item if you complete a survey and fill out three or six different offers. These usually do work, but you actually have to fulfill the requirements to the end point. They won’t ship until after you’ve met the offers through the first month. And then you’ll get your TV or phone, but after spending a few hundred on offers and waiting for months. Obviously, not the ideal situation.

If you do buy a new gadget, we encourage you to save money in other parts of your life. For instance, you could stop buying espressos for a month or trim the dining out costs for a while. Keep within your budget, look for deals, and soon you’ll be changing the shape of your financial future.