Category Archives for "Real Estate"

What to do when a market busts

Ben Stein has written an article on Yahoo!Finance about what to do in a bust:

Buy more.

Yes, simplistic, but oh-so-true. It’s hard to get the gumption to buy when prices are falling, but if you can afford it (read: how can you not afford it?), buy when prices are falling.

This is the reasoning: If at $100 you thought the stock, for example, was fairly valued (you bought it, right?), then at $50 it’s a bargain. So, buy more.

The housing industry is the same. Ben offers this sage commentary about people and their penchant for counting on the recent real estate phenomenon of ever-increasing prices:

…it’s a reminder that you shouldn’t count on your home to make you rich. Homes are for living in. They shouldn’t be your main investment unless you’re a builder.

Debit or Credit?

The Fools over at have published an article on the pros and cons of the 3 major plastics we use today (debit, credit, or hybrid).

Check on the Jump below for a great source of information about these similar but different products.

I personally use credit as often as possible for several benefits (more of my reasons to come in a later post):

  • Interest-free loans for 25 days or so
  • Personal liability of up to $50
  • Easily disputable
  • Builds credit (facilitates getting other types of loans, like mortgages)

NWA’s Top 101 Money-Saving Tips for the Workers It Fired

Below is a list of 101 ways to save money. The ironic thing is that the list was compiled by Northwest Airlines and handed out to the (former) employees the airline just fired. Now, I don’t know about you, but this stunt really seems like it’s rubbing some salt into some really fresh wounds.

Nevertheless, is the list below a viable set of money-saving tips? Some tips seem sound, others not so sound, still others depend on context. What do I mean by context? Take Tip #1. First, context: Taken in winter, this tip seems mostly right. 60 is a bit chilly, but one could wear sweaters, right? But in the summer, this is downright frigid. Actually, one could turn the tables in summer. For example, in winter, you might keep your thermostat at 66 and turn it down to 62 at night. But in winter, you might want to set your thermostat at 78 and turn it up to 82 at night.

The thinking is that you’re asleep and won’t notice the difference. The concept is to save money while sleeping. This means that you do whatever makes sense depending upon the season. In spring, it may not make any difference, since the temperature at night may not fall appreciably enough to make the thermostat/heating/cooling system do anything. Make sense?

Now, take #46. Don’t be shy about pulling something you like out of the trash. Okay, besides being really unpalatable, how many people will be willing to do this? Living in the Bay Area (California), I see people poring through trash every day, looking for a bit of coffee, a piece of bread, a cigarette. But I’d have to get really desperate before I started looking through the trash to nourish myself. I mean really desperate.

Not to mention the filth. Who knows what kind of sludge has touched this scrap food? It’s not only impractical to go through the trash, it’s also very potentially unsafe. Leave this tip to the NWA execs that lose their jobs over offering up this stupid “tip.” (Here’s a tip for you, Mr. CEO: Go dig through your own garbage for food.)

We’ll be sure to revisit this list frequently. There are some good tips in here, many of which can form the basis of a sound money-hacking lifestyle. Also, many can be expanded upon with real money-hacking modifications, such as switching to VOIP (like Vonage or Skype) to save money on phone service.

NWA’s Top 101 Money-Saving Tips

1. Set your thermostat to 64 and turn it down to 60 at night.

2. Use the phone book instead of directory assistance.

3. Use coupons at the grocery store.

4. Carpool.

5. Ask for generic prescriptions instead of brand name.

6. Do your own nails.

7. Rent out a room or garage.

8. Replace 100 watt bulbs with 60 watt.

9. Make long distance calls at night and on weekends, instead of mid-day, mid-week.

10. Throw pocket change in a jar and take it to the bank when it’s full.

11. Always grocery shop with a list.

12. Buy spare parts for your car at a junkyard.

13. Go to museums on free days.

14. Quit smoking.

15. Get hand-me-down clothes and toys for your kids from family and friends.

16. Meet friends for coffee instead of dinner.

17. Request to get interest on a security deposit for your apartment.

18. Take a shorter shower.

19. Write letters instead of calling.

20. Brown bag your lunch.

21. Make your own babyfood.

22. Use public transportation.

23. Drop duplicate medical insurance.

24. Buy old furniture at yard sales and refinish it yourself.

25. Apply for scholarships and financial aid.

26. Exercise for free-walk, jog, bike, or get exercise videos from the library.

27. Form a baby-sitting cooperative with friends and neighbors.

28. Buy your clothes off season.

29. Go to a matinee instead of an evening show.

30. Share housing with a friend or family member.

31. Hang clothes out to dry.

32. Do not use your calling card.

33. Volunteer two hours a month for reduced cost food through the Share Program.

34. Change the oil in your car yourself regularly.

35. Get pre-approval from your medical insurance company before undergoing any procedures or tests.

36. Buy ‘no frills’ vitamins.

37. Take a date for a walk along the beach or in the woods.

38. Make ca
rds and gifts for friends.

39. Shop in thrift stores.

40. Have your water company do an audit so you are not charged sewage fees for water used in your garden.

41. Refinance your mortgage.

42. Grocery shop on double coupon days.

43. Trade down your car for a less expensive, lower maintenance one.

44. Convert your cash value life insurance to term.

45. Shop around for eyeglasses.

46. Don’t be shy about pulling something you like out of the trash.

47. Recycle.

48. Move to a less expensive place to live.

49. Use low flush toilets or water saving devices in the tank.

50. Drop unneeded telephone services like call forwarding or caller ID.

51. Buy fruits and vegetables in season.

52. Avoid using your ATM card at machines that charge a fee.

53. Bicycle to work.

54. Shop around for auto insurance discounts for multiple drivers, seniors, good driving records, etc.

55. Ask your doctor for samples of prescriptions.

56. Borrow a dress for a big night out. or go to a consignment shop.

57. When you buy a home negotiate the sales price and closing costs.

58. Turn the hot water heater down and wrap it with insulation.

59. Never grocery shop hungry.

60. If you qualify, file for Earned Income Credit.

61. Shop around for prescriptions including mail order companies (Medi-Mail 800-331-1458, Action Mail Order Drugs 800-452-1976, and AARP 800-456-2277).

62. If you pay for childcare, make use of the dependent care tax credit or your employer’s dependent care flexible spending account.

63. Buy, sell, and trade clothes at consignment shops.

64. Shop around for the lowest banking fees.

65. Caulk windows and doors.

66. Iron your own shirts.

67. Plan your weekly food menu before shopping.

68. Buy a good used car instead of a new model car.

69. Purchase all of your insurance from the same company to get a discount.

70. Cut your cable television down to basic.

71. Go to an optometrist for routine vision tests or to change an eyeglass prescription.

72. Buy pre-owned toys and children’s books at garage sales.

73. Have potluck dinners with friends and family instead of going out.

74. Use the library for books, video tapes, and music.

75. Inspect clothing carefully before purchasing it.

76. Don’t use your dishwasher dry cycle; open the door and let them air dry all night.

77. At the grocery store, comparison shop by looking at the unit price.

78. Make your own coffee.

79. Use old newspapers for cat litter.

80. Shop at discount clothing stores.

81. Skip annual full mouth x-rays unless there is a problem; the ADA recommends x-rays every 3 years.

82. Water your garden at night or early in the morning.

83. Shop around for long distance rates.

84. Hand wash instead of dry cleaning.

85. Grow your own vegetables and herbs.

86. Shop around for auto financing.

87. Donate time instead of money to religious organizations and charities.

88. If you are leaving a room for more than five minutes, turn off the light.

89. Shop at auctions or pawn shops for jewelry and antiques.

90. Keep your car properly tuned.

91. Request lower interest rates from your creditors.

92. Trade in old books, records, and CDs at book and record exchanges.

93. Pay bills the day they arrive; many credit card companies charge interest based on your average daily balance.

94. Buy software at computer fares.

95. Search the internet for freebies.

96. Compost to make your own fertilizer.

97.If your car has very little value, you probably only need liability insurance.

98. Cut the kids hair yourself.

99. Increase your insurance deductible.

100. Buy in bulk food warehouses.

101. If your income is low, contact utility companies about reduced rates.

Site where I found the list.

About Me

My name is Bill and I have been collecting money hacks since 1966.

After getting my degree in Economics, I entered adulthood, out on my own for the very first time. I got a job, an apartment, and a car, racked up some debt, and paid it down. Living in the now didn’t really prepare me for what was to come: My Future.

Fast forward 20 years and I find myself with a mortgage, 3 cars, two kids, what I consider to be a well-paying job, and I can barely make ends meet.

Thus, my entry into finding ways to save, invest, and earn money. I hope to bring you unique, relevant, and useful information. Feel free to contact me at billspaced@money-hacks.com or on Twitter with suggestions for improving the site, questions, tips, tricks, or money hacks you’ve discovered, or anything else that comes to mind on the topic that concerns us all: MONEY.

After all, money does make the world go ’round.

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