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Men Spend, Women Return
Tweet Share on Facebook March 14, 2008 Comment (1)The Wall Street Journal reports on a fascinating phenomenon: When shopping online, men spend more money, buy more quickly, and return less. In other words, men are a "retailer's dream," as the paper puts it.
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Credit Card Rates Hit a Two-Year Low
Tweet Share on Facebook March 14, 2008 CommentGood news for those hit by recent spikes in credit card interest rates and looking for a new card: Rates have hit a two-year low, according to a survey by IndexCreditCards.com. The average rate for a nonreward credit card is now 13.29 percent.
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Dreaming Big, Saving Small
Tweet Share on Facebook March 13, 2008 Comment (4)In my interview with yoga teacher, author, and entrepreneur Kimberly Wilson, I left out one topic we discussed: long-term financial goals. Wilson explained that one of her dreams is to own a cabin in West Virginia. It would be nothing particularly big or fancy, just a place where she could escape the intensity of Washington, D.C., for some peace and quiet on the weekends.
She offered her advice to others with big dreams: Cut out the things that may not be as important, such as a gym membership, if you want to save for something bigger, like a trip to Italy.
My personal financial goal is to become a homeowner. This dream feels quite far away given current housing prices (there has been no dramatic downturn in the Washington area), but I am trying to put aside money each month that can one day go toward a down payment.
Readers, what are your financial goals? Are you saving money to help meet them?
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One Smart Answer to Pricey Gas? Carpooling
Tweet Share on Facebook March 13, 2008 Comment (24)Recent surveys suggest that consumers are increasingly feeling the pain of rising gas prices. If you fall into that category, here's a possible solution: Carpool.
Carpools usually work best for those who both live and work in nearby locations, such as neighbors who both work downtown or colleagues who live in the same suburb. Sharing rides saves gas money and reduces traffic (not to mention air pollution). If you're looking to carpool, RideSearch and eRideShare can help you get started. There are also many regional sites that specialize in connecting commuters. Do a Web search on "carpool" and the name of your region.
There is a downside, of course. You'll have to be more flexible on when you leave and possibly where you get dropped off. But according to the RideSearch savings calculator, if you commute 10 miles round trip to work 21 days a month, pay $3 a gallon for gas, and your vehicle gets 20 miles per gallon, then you're spending $84 a month, excluding parking costs and including 25 cents per mile in maintenance. Joining up with just one other person could split that expense in half.
Readers, if you have any good carpooling tips, please share them below.
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How to Save $16K a Year
Tweet Share on Facebook March 13, 2008 Comment (2)Check out this Redbook profile of Christina Ksoll, 42, who cut her annual spending by $16,000. How did she do it? Partly by buying a grill and inviting friends over a few times a week instead of eating out. She estimates that change alone saves $5,000 a year. Her other techniques include:
• Spending less on clothes by shopping on sites like Overstock.com and SmartBargains.com, and then getting the clothes adjusted by a tailor so they look good.
• Going to restaurants that accept coupons.
• Keeping a pack of soups at work so she can eat that when she doesn't have a lunch meeting.
• Bulk-buying paper products. If it's too much to keep around, she donates the extra to an animal shelter and still saves money.
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Making Beauty Affordable
Tweet Share on Facebook March 12, 2008 Comment (1)Dear Alpha Consumer,
The area where I tend to struggle a bit is health and beauty items. I'm not a manicure/pedicure girl, but I do like to indulge in nice lotions, shampoos, and soaps, especially the trendy organic stuff. Is it just me, or have these items skyrocketed in price over the past few years? Is there a way to get quality products without breaking the bank? Or resorting to Ivory soap?
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Car-Buying Advice from a Three-Timer
Tweet Share on Facebook March 12, 2008 CommentOne of my colleagues at U.S. News, Susan Vavrick, offers some additional car-buying advice based on her own experiences:
The key is homework, homework, homework. Do not go near a dealer until you have done this. First, go to the manufacturer website and build what you want, adding and subtracting options until you're satisfied and have a general idea of the total cost.
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Reporter’s Query: Confused Consumers
Tweet Share on Facebook March 12, 2008 CommentDo you feel somewhat clueless about money management, budgets, and credit cards? For an upcoming story on financial literacy, I am looking for people who think they could benefit from learning more about how the financial world works. Please E-mail me at alphaconsumer@usnews.com if you fit this description and are willing to be in the story.
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Playing Hardball With Best Buy
Tweet Share on Facebook March 11, 2008 Comment (2)A reader recently sent me an E-mail detailing her experience with Best Buy's Geek Squad, and it wasn't good. She brought her computer in to be fixed but ended up losing 10 days of work. The Geek Squad manager had given her a $50 gift card for her trouble, but she thought that for all the time she lost, she deserved more.
I put her in touch with Jill Nezworski, a senior executive resolution specialist at Best Buy, who explained that while the company doesn't reimburse customers for lost time, it wanted to recognize her frustration by providing her a 20 percent discount on three items that the reader had expressed interest in, including a digital camera and a computer keyboard, as well as another gift card, this time worth $75.
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Audio: Whether to Lease or Buy a Car
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