to Buy or NOT to buy

I’ve subscribed to ZipRealty’s updates on available homes for sale within our search options. Once in a while we get listings that really get us interested and my husband has even driven by some of the properties.

I’m so glad Susan Wong-Ulrich has her own show finally. It’s called ON THE MONEY on my favorite cable channel, CNBC. Her show is different from Suze Orman’s, but they have both have good ideas.  

One useful information Susan Wong has shared is the 3 C’s of buying a house.  You have to have 1) Credit 2) Capacity 3) Collateral.

1) Credit- In order to get the best interest rate and best deal possible, it’s important to work on getting your credit in great shape.

2) Capacity- This means that you have to prove that you can repay the mortgage, meaning having a stable income.

3) Collateral- The rule is to at least have the ability to put down a 20% down. This is not only for the banks but for your advantage as well.

And of course there’s this rule of your mortgage and monthly home expenses should not go over a certain % of your take home pay. I always see a variety of suggestions for the actual number.  I think maybe it shouldn’t go over 30%, just to make sure you can afford your other bills.

We’ve toyed with the idea of owning a home and once in a while when we get a listing of a home that we can consider, I can’t keep myself from computing numbers in my head.  So, I look back to the 3 C’s,

1) Credit-Our credit’s not too bad, although it can be better. I’m sure our interest rate won’t be too high.

2) Capacity-Knowing how the economy is right now, how stable are all jobs really?

3) Collateral-20% is a lot to save up right now. And even if we come close to saving that much, wouldn’t I rather put it in our emergency savings. Again, it’s always good to be prepared, especially nowadays.

So, my conclusion, for now, we’re going on the side of NOT buying. What works for you?

CVS Savings

I’ve been coming across some frugality blogs and many mommy bloggers talk about CVS for savings. So I decided to give them a try. I started in May and got addicted.

You can easily save money if you have a CVS card. Then, you can earn ECB (Extra Care Bucks) when you purchase certain items. ECB’s are rewards points that you can use on your next purchase. The best part of it is that some items that give ECBs is practically for the same price that you got it for. So its like getting things for free (you just pay tax). And they also accept coupons, how neat is that!

This is a scenario that happened to me…
An Aquafresh Toothpaste was $3.49.
I got .50 off because I have a CVS card so my price was $2.99
It so happened that Aquafresh toothpaste comes with an ECB of $2.99
I also brought a coupon for $1.00 off Aquafresh
So my final price for the toothpaste, $1.99 plus tax
And I even have $2.99 for my next purchase, woohoo!

Credit Card Balance Transfers

Here are a few things I’ve learned regarding CC Balance Transfers:

1. Balance transfers can be done from one credit card company to another. Some credit card companies allow you to transfer funds between cards from the same company, others do not.

2. Funds from balance transfers can be directed to you checking account.  This can be helpful if you’re going to use the funds for a car loan, student loans, etc. 

3. Be aware of the Balance Transfer Fee.  If your Balance Transfer limit is $10,000, make sure you only transfer about 9,500.  They add a percentage as a fee that might stretch you to your limit.

4. Ask about all other fees if any to avoid surprises. 

5. Ask about minimum amounts and pay by dates.

6. Ask about default APRS after the promotion is over.

7. Try to ask for a credit line increase before you do a transfer. It might help to keep you from exceeding your credit line.  Besides, it won’t hurt to ask.

8. Balance transfers are similar to Cash Advance.  But with Cash Advance, you get your money immediately. With a Balance transfer, you’ll get it in several days. For this reason, Cash Advance fees are much higher.  So if you can wait a few days to receive your funds, you might as well save some money and do a Balance transfer instead.

Save Money on Gas

Yes, gas prices may be high, but here’s a little relief…

I saw an article on realsimple.com that mentions 2 websites you can enter your zipcode and they can tell you how much the gasoline stations in your area is charging. How cool is that?

gaspricewatch.com

gasbuddy.com

Hope you find these links useful! =)

Michael’s and Joann’s

Well, I love to craft. I’ve been going to Michael’s and Joann’s for years, and more so now than ever since I started scrapbooking. I love getting my coupons for Joann’s and disliked not having coupons for Michaels. Unfortunately, Michael’s only print coupons on Sunday Newspaper ads and some magazines. And there are even Sundays that they don’t have an ad there. Boo!

Anyway, I heard that you can use Joann coupons at Michael’s and the other way around. So one day I tried it. And what did you know… it worked! woohoo!

Finally, a little treat

So, i actually received a check from my work last week. No it’s still not a “paycheck,” (<— since I’m still having to fight with my Disability Insurance and Kaiser.

It’s a small bonus we sometimes get every February if we meet our company target.

So, I think hubby being so nice to be paying for all the bills deserve a little treat.  I’m getting him (or should I say US a new point and shoot camera).

I really liked the FUJI we bought about 2 years ago but the flash hasn’t been working properly and our toddler probably dropped it so many times that the screen has weird lines on it already.  

We have a Sony SLR which we got for a great price, but it doesn’t do videos.  That’s why we have to get a point and shoot.  Especially with baby Elle coming, we have to make sure we capture all her memories with her big brother, so we can post them on YOUTUBE =)

And for me, my little reward is a shopping spree with Oriental Trading.  I received an email reminder of a St Patty’s catalog and it has a coupon code for FREE Shipping if you spend $100 dollars.  Good thing I searched online and found this code 

RLS105

It’s from retailmenot.com  It’s FREE Shipping on orders over $60. I actually saw another code for 20% off on orders over $60 RETPY08B, but it was too late.  The good thing is that with the first code, I don’t think I was charged a sales tax so that’s good. Either way I got to save, woohoo!

Can’t wait to get my stuff in about a week!

Bed, Bath and Beyond

We passed by Bed, Bath and Beyond today. We noticed they have a big sign outside saying “Clearance Event,” so we went in. 

We already knew that many items inside are probably not on sale anyway, probably just the holiday stuff.

But since we were there already, we went ahead to go shopping for some things we’ve been looking for and needed to buy.

When we got to the line, there two ladies ahead of us both pulled out stacks of 20% coupons from their purses. Then, both the cashiers started scanning away. I was like…(turning to my husband) “What, You can do that?” When we walked up to the cashier and asked the girl there, she said, “Well yes, actually you can use up to five coupons per transaction!” I did not know that. And considering that BB and B actually accepts coupons from Linen’s and Things as well. Oh man! How disappointing! The day we don’t have any coupons, we end up buying something there. But according to the girl, we can actually come back if we have a coupon and the discount will be applied to our purchase. Pretty cool huh?

So now, we decided to start collecting them BB and B coupons. They might come in handy one day. =)

A little savings on gas

So, we’ve been driving our ‘04 civic hybrid now for a while.  The best thing about it is that we haven’t had any problems with it yet (knock on wood).  

Unfortunately, it is a little disappointing to find out that the average miles per gallon advertised is not what we’re getting. But then again, I understand, each situation is different and there is a reason why they say “average” in the first place!

Anyway, we’ve been doing about 32 miles per gallon all this time, till last week. Hubby decided to go around his regular route of going up and downhill to get to my in laws to drop off and pick up our son. And guess what? Since then, we’ve been at 36 miles per gallon. woohoo!

We should have done this a lone time ago! =P

Restocking Fees???

Here are 2 scenarios…

First, you buy a digital camera and make sure you get a receipt for it (<—that’s pretty smart!). Then you hurry home to open your box and can’t wait to play with is. Then 2 weeks later, you decide that it’s not as easy to use as you thought. You put it back in the box and close it tightly. Then, you bring it back to the store with your receipt to get a refund or store credit…..

Second, you buy a printer and get a receipt as well. When you get home, you realize you’re computer is not compatible with the printer. So, you take the unopened box and return it the following morning….

What do you think happened to each one of these scenarios? Pretty much the same. No, they did not get the full amount of what they paid for, whether or not the package was opened or closed.

Why do you ask?

Many stores now charge a “restocking fee” if you return an electronic device or appliance. Restocking fees are normally 15% of the amount you paid on the item.

It’s understandable if it’s a refrigerator that may need to be repacked or set up for display, but not for a small item that wasn’t even opened. I think it’s ridiculous, especially if it’s a package that’s still sealed and the only thing they need to do is put it back on the shelf.
I know it’s not fair, but there is one way to make sure you don’t charged this 15% crazy fee.

When you go to purchase any electronic device from any store, make sure that you not only get a receipt, but also a gift receipt. Even if the item you purchased it for yourself.

The store will not charge you the restocking fee if you have a gift receipt. I guess they figured, why should they penalize gift recipients, right?

This is one of the only ways that I’m aware of right now, I’ll post more once I gather more information. Until then, I hope you find this information useful. There’s no reason to not waste any money when you don’t have to .

This can help you save on your expenses

Here is a website my boss forwarded to us one day. I have yet to try it, but I will. 

It’s called Wageworks.

It says it can save you some pretax dollars on some qualified expenses like commuting, dependent care and health expenses. I guess it’s like a Flexible Spending Account, but FSA’s normally only cover health expenses. It’s nice to know that there is a service that also include childcare and commuting.

Read it, you might find it helpful.