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Better Spending Habits: Do Not Pay Retail Prices!!!

September 13, 2009 By QueenGeek View Comments

Recently, I have started to take better care of my spending habits. Anyone that knows me is well aware that I have a weakness for electronic gadgets. As a result, I’ve been working on changing how and what I purchase so I can afford the items without breaking the bank nor paying retail prices.

Open Box Specials

Currently, I’m in the market for yet another Mac Book Pro and Apple does not make any inexpensive devices. As a result, I’m trying to purchase open-box items at local stores and these deals are better than  Craigslist, Ebay or Amazon combined. I witnessed a gentlemen purchase the June 2009 model of a 15″ MacBook Pro for $1000!!! Folks, these machines start at $1699 so the savings was huge. If you are not aware, I am also a Dave Ramsey fan so I’m confident would endorse this method of purchasing especially since the same manufacture warranty was included. Have you considered purchasing an open boxed item? Often times, there’s nothing wrong with the item but the original purchaser changed their mind and returned the item.

Amazon, Ebay and Craigslist

I’ve also begun purchasing and selling on Amazon, Ebay and Craigslist. There are great deals on all of these sites for new and used items that are priced lower than retail stores. If you’re skiddish about Here’s how I use these sites:

Amazon

If I want to buy or sell a high-price item and get the best protection, I use Amazon. Items such as electronics and a few books are typically what I sell. Additionally, since Amazon offers money towards shipping, it takes some of the hassle out of shipping. I’m not saying that Ebay doesn’t have some protection but the perception is that Amazon is safer so I typically use them for items that are easily shipped and I want the better price without the bidding aspect. Another advantage of using Amazon is they provide all the photos and description of the items so as a seller, Amazon provides a pretty hassle-free experience.

As far as security, someone recently tried to scam me on an item that I was selling. I sent the information to Amazon and they confirmed the scam. Whew!!! The transaction looked correct initially but in the end, the normal process of how Amazon operates were not followed and that was the tip-off. One problem when trying to sell on Amazon is that if the item isn’t listed in their database, then you cannot add it as a new item unless you have a Pro Merchant account.

Ebay

I typically use Ebay when the item doesn’t exist on Amazon and/or I want to add a video demonstration to the item. Canned photos on Amazon don’t always make the cut when selling an item and Amazon doesn’t allow links to external websites like YouTube or Photo hosting sites to show your item.

Craigslist

I love using Craigslist when I have an item that would be too much of a hassle to ship or the fees associated with Ebay don’t make it worthwhile to sell on that platform. I’ve sold an older digital video camera that used tapes for the media when I wanted to upgrade to a camcorder that used secure digital (SD) cards. I’ve also used it to help a friend purchase a car and after test driving it and retrieving the CarFax details, it was a great deal. I like Craigslist for cash-and-carry deals but as a seller, this method is just a step above yard sales in the aspect that the buyers want to pay as little as possible. As a result, if you’re trying to make even a slight profit, then Ebay or Amazon maybe better options.

Just plain old cheap or is that Frugal?

In some regards, I’ve just gotten cheap or I would like to think frugal. I use rechargeable batteries for my TV remotes and wireless computer mice instead of buying expensive batteries over and over. I take empty water bottles through airport security so I can fill-up at the water fountain for free. I use Google Voice to make phone calls over the internet and keep my minutes low on my cell phone plan. I also use Skype to make video calls or conferencing calls over the internet and that reduces my phone bill. Truth be told, I use Vonage as my phone service so my bill is always the same no matter how much I talk.

At the end of the day, my goal is the save money where ever possible so I have it for for savings, geek toys, vacationing and other things that I desire. So stop paying retail prices whenever possible. There’s money to save!!!

Financial Peace: Do you have any?

June 3, 2008 By QueenGeek View Comments

Well, It’s been quite a while since I blogged but I wanted to write something fairly quickly. In short, my household has started on the Dave Ramsey kick!!! If you have not heard of him, do not worry. You are not alone as I had only heard of him as of April 2008.

Who is Dave Ramsey and why should anyone care?

Simply put, he is a radio, talk-show host that advocates living on a cash base system so that you are debt free. His philosophy is based upon Christian principles and whether or not you are a believer, you may find yourself being a follower because his philosophy just make sense. What is great about Dave and the show is he tells it like it is. He does not sugar coat stupid decisions and he will tell you quite bluntly and humorously to sell your car especially when it is 50% of your take home pay!! He has been broke and filed for bankruptcy many years ago so he shares his experiences and knowledge on an easy-to-understand level about managing money.

Financial Peace University (FPU): A College for Everyone

If you thought you could not afford to go to college, this is a university that everyone should attend and is quite affordable. It is not your traditional college, rather FPU is more about educating yourself with Dave’s coursework. If you are skeptical, so was I. Everyone who has made it rich or gotten out of debt has some theory about how to do it whether it is buying real estate, gold, stocks or something a little too risky or pricey for the rest of us. So, before I spent my $150 on the kit, I downloaded podcasts, read everything I could on the website and watched his show on Fox Business Network. I can now tell you that it was worth every penny.

Getting Started

To get started, I purchased The Financial Peace University Kit for $150. For that you get:

  • Entrance to a class which is typically offered at a local church. Again, you do not have to be a Christian or a believer but it is based upon Christian principles
  • The Financial Peace Book
  • The Financial Peace Workbook
  • The Total Money Makeover Book
  • 2 wallets with envelopes
  • Audio CDs that match the DVDs that you view while attending the class
  • Access to online utilities and forums

Purchasing the kit and listening to the CDs was the easy part. Developing a detailed or cashflow budget was the hard part. I thought I had been budgeting for years as I am a seasoned Quicken user. WRROOOOOONGGGGGG!!! I had all the monthly items identified but it was items such as my annual personal property tax for my SUV or gifts through-out the year that never made it into the budget that were causing a problem. The solution? Giving ever dollar a name is Dave’s recommendation, even an amount that you will blow per month. I like this part because everyone wants to spend a little money for themselves and this still allows you to enjoy life with discipline.

Baby Step 1

The first baby step is to get $1000 cash in the bank for an emergency bank. My household was able to do this pretty quickly as we took our tax refund money and put $1500 in savings. However, Dave suggest having a yard sale, a second job or anything you can do to accomplish this step.

Now, I don’t want to give all the steps away but we are on our way to financial peace. We have cut up all credit cards, even our beloved American Excess cards and started our “Debt Snowball”.

Don’t think it can be done? I think it can which is why we purchased the Financial Peace University Kit, listen to his radio program, download podcast and have just started living and breathing, paying for everything in cash!!!

In the upcoming months I will be outline our process. Here is our starting point for “Debt Snowball”. We have listed the bills in order of lowest to highest.

 

From QueenGeek’s Financial Matters

 

 

On a positive note, I will offer a ray of hope to those that think they cannot get out of debt. The first bill, SkyMiles, has been paid off as of mid-May 2008!!! So, it can be done. 

Now, the real question is do you have financial peace? If not, do you have a plan to obtain it? Are you willing to try something that is working for others? For me, I am going to the cash route.

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