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Shopping

Nov 27
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Simple Ways to Earn More Money for the Holidays

By Money Management, Podcast, Shopping No Comments

Click the pic to listen to this episode

It’s that time again – the Holidays! Can’t you feel the shopping frenzy in the air? Even though stores are bypassing Thanksgiving and promoting Christmas, not everyone is quite ready to Fa-La-La-La-La, financially!

So, if you need some extra cash for shopping, Robert Farrington of The College Investor shares some simple ways to earn more money for the holidays.

In this episode, Robert Farrington explains

  • ways to earn more money for the holidays
  • if we should Invest or Pay Off Debt for a financially free new year

ABOUT ROBERT FARRINGTON

Robert Farrington is a Millennial Money Expert and Founder of TheCollegeInvestor.com. He is on a mission to help millennials get out of student loan debt and start building wealth for their future. He also helps parents make smart choices about college financing options and navigating the complex world of paying for school.

Through his work at TheCollegeInvestor.com, Robert Farrington has emerged as one of the nation’s leading student loan debt experts.​ Farrington launched TheCollegeInvestor.com from his home in 2009​, while finishing his MBA at the UC San Diego Rady School of Management. Being passionate about investing and personal finance, he wanted to connect with others who shared his passion. Not finding what he was looking for on campus, he created TheCollegeInvestor.com as a resource for young adults about money, covering topics from paying for college and escaping student loan debt, to investing their first dollars after graduation.

Since then, Robert Farrington has shared his successful student loan and wealth building expertise with thousands of ​young adults, both online, in person, and as a contributor to major publications such as Forbes and Huffington Post.

THANK YOU FOR LISTENING TO THE “FINANCIAL FORNICATING WITH MADAM MONEY” PODCAST!

We appreciate you listening to the Financial Fornicating with Madam Money Podcast. Please share your comments or questions about this episode below or at info@madammoney.com. Also, please share this episode using the social media buttons.

You can also listen to the Financial Fornicating with Madam Money Podcast on Spotify, iTunes, Google Play Music or your favorite podcast app! Please share your honest feedback as Ratings and Reviews are very helpful and greatly appreciated!

Originally published Nov 5, 2019.

Nov 25
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9 Money Saving Tips for Black Friday Shopping

By Money Management, Shopping 2 Comments

Being stuck in the Black Friday and holiday shopping frenzy can be a hassle. Overcrowded stores, bait and switch ads, and overpriced “deals” are not only stressful but can cause a major blow to your household budget. To protect you and your pocket book from the Holiday Shopping Hustle, here are 9 Money Savings Tips for Black Friday Shopping.

Avoid Peer Pressure Purchases

When shopping with family and friends, be careful not to fall into the trap of Keeping Up with the Purchasers. Just because your shopping cohorts are shopping like crazy doesn’t mean that you can afford and have to. Walk away if the temptation becomes too much.

Beware of Bogus BOGOs

Buy One Get One offers for items that you had no intention of buying are budget busters. Protect your cash flow by only getting the BOGOs that are on your shopping list.

Create Your Santa’s List

After establishing your holiday buying budget, instead of making a list of gifts to buy, create your Santa’s List of family members & friends that will get gifts. Everyone does not have to and should NOT Make The List. Send those who were naughty holiday cards.

Ditch the Debit and Credit Cards

Using credit and debit cards can cause overspending, especially if you don’t keep track of the cost of every transaction. Use CASH to protect your holiday buying and household budget.

Have the “Gift” Talk

Have a conversation with other adult family members to only purchase gifts for kids under 18 years old or, to set a limit of a certain amount, like $20, to pay for gifts for the adults. With this economy, everyone will more than likely understand and appreciate the suggestion.

Know Your Limits

Set the maximum amount that you can afford to spend on holiday gifts before going shopping. Your holiday shopping budget is the amount you have saved or can save between now and the big holiday. Remember, if you can’t save for it, you probably can’t afford to borrow for it.

Stop Brand Name Dropping

The biggest Black Friday budget busters are Name Brand gifts. Not everyone deserves the VIP (Very Impressive Present) treatment. Some people deserve and will be just as happy with the generic or store brand gift.

Support Small Businesses

Avoid the headache of the holiday shopping frenzy by shopping at small businesses in your community. As a gift to family & friends that sell products and services, buy gifts from them for others. Take advantage of the great deals the day after Black Friday during Shop Small Business Saturday.

Visit Virtual Businesses

Get great buys from businesses with online or virtual stores. You will save money, time and avoid the holiday shopping frenzy. Most retails stores and small businesses have special deals on the Monday after Black Friday during Cyber Monday. Also, start shopping a few weeks before the big holiday to avoid paying for expedited shipping.

Holiday shopping doesn’t have to be stressful if you follow these money saving tips. Happy holidays and remember to Spend Responsibly.


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Originally published November 25, 2014

May 22
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Best Buys During Memorial Day Weekend

By Money Management, Saving, Shopping No Comments

By Cameron Huddleston | Syndicated | Originally Posted May 22, 2015

(Photo: CDN Shopping Blog)

(Photo: CDN Shopping Blog)

Memorial Day signals the start of summer – and an opportunity to score great savings on a variety of products. Big-ticket items, in particular, will be deeply discounted during sales over the long holiday weekend. In fact, some retailers already have launched their Memorial Day sales, so you can take advantage of deals now without interrupting your holiday plans. Here’s what you can expect to marked down now, through the weekend and into next week.

Apparel. The majority of Memorial Day deals will be on spring apparel, says Louis Ramirez, senior features writer for deal and coupon site DealNews.com. Expect to see discounts ranging from 40% to 90% from retailers such as 6pm.com, Eddie Bauer, H&M, Kohl’s, JCPenney, Macy’s and Old Navy. Designer brands such as Calvin Klein, Ralph Lauren and Steve Madden will mark down spring apparel by 30% to 75%, Ramirez says. Also look for coupons for an additional 15% to 40% off already discounted items. See Best Ways to Get Online Coupon Codes and 8 Great Coupon Apps for tips on finding coupons for online and in-store purchases.

You’ll also see discounts on summer clothing – just not as deep as the markdowns on spring apparel. Brent Shelton of cash-back shopping site FatWallet.com recommends shopping for discounted clothing before the long weekend to beat the crowds and ensure a better selection.

Appliances. This is one of the best times of the year to find deals on major appliances especially refrigerators. Consumers can expect discounts ranging from 10% to 65% at retailers such as AppliancesConnection.com, Best Buy, Home Depot, Lowe’s and Sears, says Howard Schaffer, vice president of deal site Offers.com. Also look for online coupon codes for additional savings, free shipping and 0% financing, he says. Most sales will start Friday and end Monday, but some will continue through next week.

Home goods and kitchenware. Department stores such as JCPenney and Kohl’s have marked down small kitchen appliances and bed and bath items 30% to 50%, and Macy’s has discounts of up to 60%.

Mattresses. Memorial Day sales represent the best time of year to buy mattresses, as mattress retailers offer discounts of 50% or more, Shelton says. Look for markdowns at department stores such as Macy’s and Sears, and at local retailers. For the past two years, Groupon has also taken up to 83% off a selection of mattresses as part of its Memorial Day sales, Ramirez says. You’ll also find that many stores will offer 0% financing until 2020 and free delivery, Schaffer says.

Outdoor items. The best time to find deep discounts on grills, patio furniture, mowers, lawn equipment and other outdoor items is at the end of summer. But if you want to enjoy them during the warm weather, you’ll find discounts of 20% to 50% during sales over the long holiday weekend, Schaffer says.

Dec 20
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How To Save Money During The Christmas Holiday

By Money Management, Saving, Shopping No Comments

It is that time of the year where people are scrambling around in all of the retail stores, buying gifts and going out of their way for the upcoming Christmas holiday. Everyone has their Christmas lists ready to go and bombarding the retail stores early, in hopes of getting some deals on the gifts they have had in mind for weeks for their loved ones. Some people are pushing their household expenses aside and spending much-needed money just to satisfy one day.  What do you do to make sure that you aren’t “robbing Peter to pay Paul” or borrowing money after it is all over? In spite of wanting to see another person happy, gift giving should not supersede the necessary bills that need to be paid on a monthly basis.

Christmas Holiday Saving Tips

It’s Only One Day

Keep in mind that it is only one day and that your kids (nor your spouse) need everything that they’ve asked for and desire at this time. You don’t need to buy every single thing they’ve asked for in order to make it a great day.

Get Out Early

If you are insistent on buying gifts, be sure to get out early to catch some of the sales. You may run into some things at discounted prices.

Think Dollar

Shop early for your Christmas dinner meal and purchase things that are on sale at the grocery store. Go to the Dollar Tree or Family Dollar to buy seasonings, pie fillings, canned goods and many different kinds of holiday decor at a lower price. If you have small children, Family Dollar has a nice selection of toys that you can get that are nice but inexpensive for kids of all ages. Everything doesn’t need to be name brand but affordable.

Shop Online

Shopping online for products is a good idea because you can budget better mentally, save time by not being in long lines at a physical store. Remember to keep in mind how much something will cost down the road at an extended date.

Just Say NO!

SAY NO! Your kids and everyone else don’t need everything that they asked for concerning Christmas. You can always buy things after the holiday or on their birthdays. You will find that things go on sale after the holidays.

Get Gift Certificates

You can always give people gift certificates and allow those family members to pick out their own stuff.

Stay On Budget

Stay on your budget and pick a certain amount to spend and leave the rest of the money at home. You can’t spend extra or unnecessary money if it is not in your pocket or purse.

Apr 01
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5 Foolish Money Mistakes to Avoid

By Credit, Money Management, Saving, Shopping No Comments

It’s April Fools Day, full of pranks and jokes all for fun. However, there is nothing fun about being foolish with money.

So, here the top 5 Foolish Money Mistakes to Avoid.

Avoid impulse shopping.

Make shopping a planned activity with a list or a budgeted amount.  Unplanned or impulse shopping will sabotage your spending plan / budget.  If you really want to purchase the item, give yourself 24 to 48 hours to shop for a better deal, figure out if you really want it and can afford it. You’ll be glad you waited.

Avoid retail therapy.

When you are emotionally down or distraught, avoid shopping or making any large purchases.  We are less financially objective when our emotions cloud our judgment.  Do something that doesn’t cost anything or very little, like go for a walk, spend time with family or friends, etc.

Avoid overdraft protection.

Overdraft or “Courtesy Pay” will allow you to you overspend and charge you a fee for letting the debit card transaction go through. A fee of $27 up to $35 will be charged for every overdraft, even if the bill runs just $1 or $5 over the amount you have in your account. Some banks charge the fee if you’re a penny over. Essentially, you’re getting very short-term credit at effective interest rates that reach the high triple digits. Now was that cup of coffee really worth $40?

Avoid savings tampering.

If you have to tap into your savings to make a purchase, you may not be able to afford the purchase.  Establish a savings account that is not easily accessible with a certain amount directly deposited every pay period. Savings accounts are supposed to grow, not be chiseled away.

Avoid financial promiscuity.

Financial Promiscuity is when we use unsecured revolving credit (credit cards) for small purchases when cash should be used.  Avoid using credit to purchase that “value meal” or anything less than $50.  This will ensure that we do not slowly acquire Financial STDs (Substantially Tremendous Debt).

So, enjoy the day and play an innocent joke or prank on someone you love and keep the foolishness away from your money!