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Tarra Jackson

Aug 28
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10 Best Things to Buy on Labor Day Weekend

By Money Management, Shopping No Comments

If you’re not out enjoying the last bit of summer on Labor Day, you might want to take advantage of the long holiday weekend to get great deals on a variety of items. From summer merchandise to big-ticket items, you’ll find plenty of things deeply discounted during Labor Day sales.

In fact, you should see retailers starting their sales several days before Labor Day weekend, said John Park, CEO of Goodshop, a coupon and deal site that makes donations to charitable organizations when users make purchases through the site. And “if you don’t have a chance to shop during the big sale time, not to worry,” Park said. Some retailers will likely keep their sales going until the weekend after Labor Day.

Before you head to the store or online, though, it pays to know what to buy on Labor Day to snag the biggest discounts.

Major Appliances

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Labor Day sales are a great time to buy major appliances at a deep discount. “To clear stores for newer breeds, retailers discount previous years’ appliances by as much as 40 percent,” said Sarah Hollenbeck, shopping and savings expert at deal website Offers.com.

Look for Sears to have some of the best deals and free shipping on refrigerators, ranges, cooktops and washers and dryers from brands such as Kenmore and Whirlpool, Hollenbeck said.

Best Buy is also known for having great deals and should be knocking hundreds of dollars off the prices of major appliances from Samsung, Bosch and other popular brands. Also look for Best Buy to offer free delivery and haul-away of old appliances, she said.

Grills

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“The unofficial last day of summer, Labor Day, also marks the unofficial end of barbecue season,” Hollenbeck said. “To clear out their stores for fall merchandise, retailers offer grills at up to 80 percent off.”

So, Labor Day sales are a great time to get a new grill at a fraction of the cost that you’d pay if you waited until next spring or summer to buy one.

You’ll find some of the best sales on gas and charcoal grills at Home Depot, Lowe’s and Kmart, Hollenbeck said. And look for both Home Depot and Lowe’s to offer free shipping on select online orders.

Grilling Accessories

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If Labor Day doesn’t mean the end of grilling season for you, you can get the supplies you need to keep cooking outdoors at a discount.

“Labor Day tends to be a great time to stock up on grilling accessories,” said Regina Conway, a savings expert with deal site Slickdeals.

For the past three years, retailers such as Home Depot and Lowe’s have discounted bags of charcoal by 50 percent, she said. Even higher-end stores such as Williams Sonoma cut prices on grilling accessories to clear out their summer inventory.

Patio Furniture

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Labor Day weekend is a good time to get patio furniture at a discount, Park of Goodshop said. For example, home goods retailer Wayfair marked down outdoor furniture by 70 percent last year during its Labor Day sale, he said.

In addition to Wayfair, you can expect to see outdoor furniture sales at Kmart, Kohl’s, Pier 1 Imports, Pottery Barn, Sears and West Elm, Park said. Home Depot also marks down patio furniture, so make sure you check out the store’s deals this Labor Day.

Summer Clothing

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Like grills, patio furniture and other seasonal items, summer clothing gets deeply discounted during Labor Day sales.

“Labor Day weekend is an excellent time to stock up on summer season clothing, especially if you can find staples that transition well into other seasons, like T-shirts or cardigans,” said Lindsay Sakraida, director of content marketing with DealNews.

Stores slash prices on summer apparel by as much as 75 percent, she said. But you can score additional savings by stacking coupons on top of the sale price. Sakraida said you can find coupons for clothing that slash up to an extra 40 percent off. Check sites for online coupons such as DealNews, Slickdeals and Goodshop.

Sunglasses

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Sunglasses are among the summer clearance items that represent the best Labor Day deals.

“There are many online glasses stores that have sales up to 80 percent off on affordable name-brand and generic styles,” said Brent Shelton, online shopping expert for deal site FatWallet.

You’ll find discounts from online retailers such as Eyeconic, 6pm.com and GlassesUSA and from big-box retailers. Some of the best savings, though, will come from Oakley, Nike, Ray-Ban and Spy Optic, Shelton said. “Expect savings as much as $100 on these higher-quality styles that can also be fitted with prescription lenses,” he said.

Shoes

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You can find some great deals on shoes during Labor Day sales, Park said. Expect to see markdowns on both end-of-season summer shoes and back-to-school shoes.

In the past, retailers such as Shoes.com have offered 30 percent off during Labor Day sales. Some retailers cut prices by up to 50 percent, he said.

Mattresses

Image Source / Pinterest

“Every Labor Day has a big mattress sale,” Park said. “So, if you’ve been sleeping on an old uncomfortable mattress all year long, here is your chance to upgrade.” He expects Macy’s to have some of the best deals.

In general, you can expect department stores and mattress retailers to slash prices by up to 60 percent on a variety of styles, Sakraida of DealNews said. However, remember to “keep in mind that the base and mid-tier models are the most likely to be discounted,” she said. And if you find a great deal from an online mattress retailer such as Casper, don’t balk at the idea of making this purchase online. Mattresses are actually one of the best things to buy online now because many retailers offer free return shipping if you’re not happy with your purchase.

Laptop Computers

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If you missed the back-to-school sales on laptop computers, you still can find deals on them — last year’s models, in particular — during Labor Day weekend sales. Retailers and manufacturers such as Acer, Best Buy, Dell, HP and Lenovo will offer 15-inch PC laptops for as little as $300, and you’ll see $900 for a 13.3-inch MacBook Air.

You can get an even bigger discount if you’re a student. “You’ll save an additional $100 to $150 with a student ID at most computer stores,” Shelton said.

Cellphones

pixfly / Shutterstock.com

If you’re in the market for a new cellphone, take advantage of Labor Day sales to get one for less. For example, Verizon usually offers great deals on cellphones, upgrades and data plans, Hollenbeck said.

You also can find cellphone accessories marked down during Labor Day sales. For example, Best Buy is offering 40 percent off three or more select cellphone accessories with a cellphone order through Sept. 4, she said.

Click here for more Things to Buy on Labor Day by GoBankingRates.com.

Originally appeared on GoBankingRates.com.

Aug 25
Love0

Is Your Partner Your Financial Soul Mate?

By Love and Money, Money Management, Relationships No Comments

Love and money, the two things you can’t live without (well, that and pizza). Ameriprise Financial (AMP) just released a brand new survey about couples’ spending habits, how they jive when it comes to financials and what you and your significant other can do now to make the money situation a little greener.

“One surprising thing that we found is that couples talk about money a lot” Marcy Keckler, VP of Financial Planning and Advice Strategy at Ameriprise, told FOXBusiness.com.

Financial discussions take place “more than world events, more than politics!” she adds.

The study showed that 77% percent of couples feel that they are on the same page when it comes to finances and that the 33% who don’t, tend to argue at least once a month.

But it’s not all bad. Of those who tend to disagree, 82% say they can eventually work out their differences.

“Couples do agree on a spending limit; the average was $400 but that varied by generation” adds Keckler.

The spending limit of a Millennial shopper who made a purchase without talking to their partner was around $250-$300, whereas baby boomers spent roughly $500. Not to mention, 5% of respondents said they were hiding a secret bank account from their partner!

When it comes to retirement, the study showed 23% of the couples felt that they weren’t on the same page or just not sure if they were prepared to retire.

So what can couples do to sync up?

“One money strategy that can make sense for couples is a three-account approach,” says Keckler.

An “ours, yours and mine” arrangement allows couples to have a joint account for shared expenses as well as separate accounts to have some financial independence and still be able to surprise one another.

However, when you and your partner spend, be sure to invest responsibly and speak to an expert!

 

Originally appeared on Foxbusiness.com.

Aug 22
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12 Things You Are Wasting Money On

By Money Management, Saving No Comments

Are you aware of how much money you are wasting?

Imagine being able to save money without impacting your lifestyle by getting control over the items that you waste money on.  Before you start to slash your budget and cut out the fun, re-evaluate the ways that you spend without thinking.  Here are 12 ways that you waste money and how you can change this spending.

Overdraft Fees.

Overdraft fees can be as high as $35 per transaction, so if you have 3 overdrafts per month then you end up spending $105 in fees.  What could you do with the extra money?  You can prevent this by maintaining a cushion in your checking account to reduce the risk of over drafting the account.

ATM Fees.

ATM fees are really harsh because the bank servicing the ATM and your bank both charge you fees to access your money.  Planning in advance will help to reduce ATM fees.  If you know that you will need cash, then plan in advance to get cash from your bank.  Search the web to find ATMs owned by the bank where you have your checking account.  Use those ATMs only.  If you are in a situation where there are no bank-owned ATMs nearby, then go to a place like CVS were you can get cash back.

Late fees.

Late fees add up quickly.  Just imagine paying a bill late every month and each late payment included a fee of $15.  Over the year you would have paid $180.  What could you have done with the extra money?  Reevaluate how you structure your bills to ensure that you have adequate cash flow to pay your expenses on time.  Also, consider setting up automatic payment to minimize the likelihood of paying bills late.

Unused subscriptions.

Look at your bank statements to identify subscription services or automatic monthly expenses that you don’t use.  For example, if you have a gym membership that goes unused, then cancel it.  If you have multiple streaming services that you don’t use, then cancel it.  Don’t pay for things that you don’t use or need.

Clothes that sit in the closet.

Shopping used to be one of my biggest budget busters.  I would by clothes because they were on sale or because I thought that I needed to have it to be in style.  Inevitability, those clothes went unworn and wasted space in my closet because I didn’t have a plan for when I would wear them and if I really needed them.

Buying things because they on sale.

If you find an item on sale, evaluate whether you would buy the item if it was full-price.  If the answer is no, then put it back.

Grocery shopping without a list or while hungry.

Have you ever grocery shopped while hungry?  If so then you probably ended up with a ton of extra food in your cart, and you walk out of the store with way more stuff than you planned to buy and may even go to waste.  Before you walk into the store, survey your cabinets and determine your meals for the week.  After you do this, then create the list and stick to it.

Food waste.

According to a study by the National Resource Defense Council, the average American family wastes on about $2,200 of food per year.  That’s literally throwing money away.  To reduce food waste use a grocery list, buy less, keep track of when items expire, and also get creative about using all of the food before it goes to waste.

Buying items for convenience.

A bottle of water at the gas station can cost $1.50 versus about $.10 if you buy a bottle of water in bulk.  The cost of water can be even less if you fill up a refillable cup.  Try to minimize convenience purchases by planning in advance.

Dining out daily.

You can dine out, but be aware of how often you dine out and how much you spend.  If you buy dinner 5 times a week and pay $15 each time then you will spend $3,900 over the course of a year.  Even if you scaled back to 2 times per week then you will save $2,340/year.  To reduce the cost of dining out, plan meals more, look for dining discounts, and try to take half of your meal home to cut the cost in half.

Not maintaining your health.

Medical costs are expensive and according to a study by Harvard University, they are also the number 1 cause of bankruptcy in the United States.  To avoid high medical costs, focus on prevention by maintaining a healthy lifestyle and going to the doctor and dentist for regular check ups.

Cable bill

With all of the streaming service options, it makes a lot of sense to cancel your cable.  You still have to determine internet, but if you cut the cable then you can reduce your monthly costs and only pay for the services that you use.  PC Mag has a great story about what your tv options are if you cut the cord.

Now that you know where you may be wasting money and how to fix it.  Look at these ideas and determine which area is costing you the most money and then start there.  Once you fix that area, then move on to another.  Good luck!

Originally appeared on EverydayPowerBlog.com by Aisha Taylor, a financial freedom expert who brings a modern and fresh twist to wealth consciousness. Prior to becoming a full time entrepreneur, Aisha spent 6 years in Corporate America in a Fortune 100 as a Senior Financial Analyst. Aisha now works full time in her company Frugal-n-Phenomenal (FNPhenomenal), and she is on a mission of to help women break the vicious cycle of making money but not keeping it, and to help women live frugally yet phenomenally.

Aug 15
Love0

Financial Talks For Every Stage Of Your Relationship

By Love and Money, Money Management No Comments

When do you start talking about money in a relationship? While financial compatibility in a relationship is important, no one wants to explain their 10-year student loan payment plan on a first date. Nevertheless, money habits (especially the less-than-favorable ones) and debt should be out in the open long before a couple moves in together or gets engaged, in my opinion. Similarly, within the first year or two, I think it’s relatively easy to gauge whether your financial values align. If one person is pushing for an all-inclusive resort vacation in Tahiti, while the other would rather take a local weekend camping trip, it’s worth discussing the difference in spending styles.

For me, financial compatibility is not about how much my partner makes, or how much debt he has, but about how he chooses to spend his money and approach savings. I honestly don’t think I would see a future with someone who spends $50 at a bar every weekend but isn’t saving any money, simply because that’s not compatible with my relationship to money.

Because money is the “leading cause” of strain in relationships, it’s important to get comfortable talking about money with your partner in an open and non-judgmental way. To help navigate these love and money conversations, I outlined five financial conversations and when you should have them in a relationship. I then asked two financial professionals about each conversation and when it should come up. Ben Barzideh is a wealth advisor at Piershale Financial Group, a wealth management firm just outside of Chicago, and Kimberly Foss is a certified financial planner and president of California-based Empyrion Wealth Management. Here’s what they had to say about these five financial conversations.

Financial conversation: How much debt do you have?

When to have it: When it starts to “get serious,” which will be different for everyone, but likely in the first two years of a relationship.

Foss: ‘Fess up about the debt too soon and you risk scaring that special someone away. However, if you wait too long, it can complicate things. If you are becoming very serious in your relationship, it is time to speak up. [If you carry a lot of debt], think of the roles being reversed — wouldn’t you want to know? You might be surprised just how understanding and open your partner is.

 

Financial conversation: Are our money habits compatible? If not, how can we meet each other halfway?

When to have it: When it starts to get serious.

Foss: Some people are spenders and some are savers. This might seem harmless with small-scale purchases, but it will be a hurdle to overcome when financial obligations and necessities [come into play]. Similar to discussions about disclosing debt, honest communication about your attitude toward money can bring understanding and harmony to financial decisions.

Barzideh: You find out if your financial practices are compatible with your partner’s by having an open conversation to assess where you agree and where you disagree. The areas of disagreement need to be compromised on in order for the relationship to [progress] smoothly. It’s important to be considerate and respectful of your partner’s wishes and habits.

 

Financial conversation: What are your future money goals?

When to have it: Before moving in together.

Barzideh: In the first five years of a relationship, there needs to be a lot of open communication about every aspect of your current financial picture and also your vision for the future. One of the most critical components of a successful relationship is communication, which absolutely pertains to finances. It’s very important to create an accurate snapshot of [your] current financial situation. Identify core values, goals and priorities. Basically [ask each other], what are you looking to do with your money and your life?

 

Financial conversation: What’s mine and what’s yours? What happens to our shared purchases if we break up?

When to have it: Before moving it together.

Foss: Until you are married, keep major purchases separate and documented. Because you don’t have the same legal protections as married couples in case of a split, it’s a good idea to keep track of who paid what toward every major purchase. Detail out a “yours, mine and ours” list of furniture and household items when you move in together.

 

Financial conversation: Do we want to merge our finances?

When to have it: Around the time of engagement — or after at least a year of living together if you see each other as life partners but don’t plan on getting married.

Foss: Couples should do what’s right for them. I have a client who says she will never marry her significant other and never combine finances with him. I have another client who combined finances with her now-husband shortly after they were engaged. Typically, I recommend keeping finances separate until the knot is tied as the laws apply differently to married couples as opposed to two people cohabiting. If you do combine finances before marriage, [I recommend] leaving some accounts separate for personal needs or gifts and drafting an agreement (define who “owns” each financial account) before any finances are combined. It may or may not help you legally in the event of a nasty breakup, but it’s better than nothing.

This article originally appeared on Forbes.com by Maya Kachroo-Levine, a personal finance writer, editor and digital content consultant. She loves to find new ways to budget and side hustle, whether through her own trial and error or by interviewing other people. Her work has been featured on The Atlantic, Refinery29, LA Weekly, and Marie Claire, among others. Follow Maya Kachroo-Levine on Twitter: @mayakach.