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Black Friday: Four Reasons to Stay Home
Tweet Share on Facebook November 27, 2008 Comment (12)While retailers are doing everything they can to lure you into their stores on Black Friday, you might want to consider staying home anyway. Here are four reasons why:
- It will be crowded. According to a poll by Consumer Reports, one in four consumers plan to hit the shops Friday. That means long lines, messy merchandize, and cranky salespeople.
- You can get better deals online. Some stores, including BestBuy.com and WalMart.com, are saving some of their biggest discounts for virtual visitors. So you can munch on those turkey leftovers while clicking your way down your shopping list.
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3 Ways to Give Thanks Through Charity
Tweet Share on Facebook November 26, 2008 Comment (2)Few actions stir up greater feelings of appreciation for what we have than giving to others, whether with time or money. Somehow, the very act of giving can make us feel richer. And this year, with so many people in need, it’s also more important than ever, even when we feel financially strained ourselves.
So, in the spirit of Thanksgiving, here are three ways to give this season. Please share your own suggestions below.
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Audio: Responding to Relatives Who Want Money
Tweet Share on Facebook November 25, 2008 Comment (60)LISTEN: Tips for When Relatives Ask for Loans
Subscribe to Personal Finance With Kimberly Palmer
This weekend, I spoke with WTOP in Washington about what to do if Thanksgiving turns into an awkward family discussion about whether you can lend money to needy relatives. We talked about why it's OK to say "No," how to reject requests firmly, and the best ways to go about giving money if you decide to do so.
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How to Give Money to Family Members (or Not)
Tweet Share on Facebook November 25, 2008 Comment (6)After writing about how to lend (or not to lend) money to family members who ask for help, I’ve heard more stories from people who have struggled with this very difficult issue.
One interesting perspective comes from Donald Cox, professor of economics at Boston College. He says that people who give or lend money to relatives are usually motivated by altruism, but sometimes something is expected in return. For example, if a parent gives money to their child for a down payment for a house or college tuition, then they may expect assistance later. “Many adult children who are providing care for needy, elderly parents say they are doing this out of a sense of reciprocity,” he says.
Here are more stories from readers:
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Save Money at the Doctor's Office
Tweet Share on Facebook November 25, 2008 CommentToday's guest post comes from Trisha Wagner, a freelance writer for DestroyDebt.com, a debt community and debt forum. Trisha writes regularly on the topics of getting out of debt and personal finance.
Long before the current economic woes, millions of Americans have been without health insurance. Unfortunately, due to massive layoffs, affordable health care is an even bigger concern for many families now.
Even for people fortunate to still have jobs with health care coverage, the cost of insuring a family is twice as much as it was several years ago.
Doctors are concerned that people are skipping routine health care visits to save money and may in fact be setting themselves up for larger and more costly health issues down the road. Before you cancel your next doctor's appointment, consider the following tips to cut costs without cutting coverage.
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Undercover Shopper: Williams-Sonoma Wins
Tweet Share on Facebook November 24, 2008 Comment (2)Did you hit the stores this weekend to get an early start on holiday shopping? I did, and for the most part, I was not impressed. Long lines and messy merchandize do not bode well for the start of the season.
Here’s my review of the six stores I visited in the Washington, DC area:
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Recession 2.0: Direct Impact on Consumers
Tweet Share on Facebook November 24, 2008 CommentIn response to our ongoing discussion on how people are feeling the effects of the financial crisis, Ryan Taylor at Millionaire Money Habits sent me a couple of his recent posts. His own brother, a mortgage loan officer, recently lost his home. Taylor writes:
Was he one of the foolish who bought more than he could afford? At the time he bought a home that was completely in reason with his income and he had saved several months in emergency savings. My brother did everything we are taught to do financially, and he thought he had achieved “the American Dream.” Months later he realized just how quickly the economy and the snowball effect of the market can take the American Dream away from you.
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Oprah Winfrey: Cheap Gifts are Better
Tweet Share on Facebook November 21, 2008 Comment (8)Oprah, who often lavishes her studio audience with pricy presents, says she will stick with cheaper options this year. She didn't name any specifics -- although Alpha Consumer readers could offer a few suggestions -- but chances are no one will be walking away with a new car or camcorder, as they have in the past.
(Maybe she'll also pick one of these books for her next book club selection.)
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As the Economy Plunges, These Books Soar
Tweet Share on Facebook November 21, 2008 Comment (2)In dire times, consumers turn to books -- at least certain kinds of books.
Guides to living simply, do-it-yourself projects such as making clothes, and affordable hobbies such as gardening are flying off the shelves, says Jed Lyons, chief executive of the Rowman & Littlefield Publishing Group. In fact, the topics are so popular that he’s also reissuing books that are decades old because they reflect current mood.
One of those old books enjoying new life is The Guide to Good Cheap Hunting, first published in 1978.
Much to his surprise, says Lyons, Americans suddenly want to learn how to hunt and trap rabbit, waterfowl, and squirrel to feed their families. “There will be a revival of this kind of small game hunting to put food on table,” he says.
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Tips for When Relatives Ask for Loans
Tweet Share on Facebook November 20, 2008 Comment (1)After her parents' car broke down earlier this year, Tarah, a 28-year-old working mom in the Midwest, struggled over whether to help buy them a new one. She and her husband were working hard to stick to a five-year plan for paying off their own debts.
So she told them she couldn't. "I don't want to think about dealing with that while I'm trying to stay focused on getting out of debt," says Tarah, who asked that only her first name be used.
