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Looking for More Ways to Save? Try Asking for Discounts

April 15, 2013 By MelissaB 13 Comments

There are plenty of ways to save on a daily basis–clipping coupons, resisting the urge to buy something, packing your lunch instead of eating out, etc.  There are many ways to live a more frugal life, and chances are, you incorporate the ways that are easy.  You know, the ones that don’t cause you to change your lifestyle much.  Things like giving up cable and getting streaming through your Xbox instead.  That’s fairly easy and doesn’t change your lifestyle.

Another easy way to save that doesn’t change your lifestyle is to ask for discounts.  Have you tried it?

Asking is surprisingly easy, and even more surprising is how often you actually get the discount.  You just have to get up the nerve to ask the first time; once someone says yes, you’ll gain confidence, and it’ll be easier to ask next time.

Ask for the DiscountWant proof that asking is as easy as I say?

Credit Card Fees

A few years ago, I made an online payment to my credit card on the day it was due, which was a Saturday.  The web stated that any payment made on the weekend wouldn’t post until the next business day.  Yep, my on time payment was counted late, and I was charged a $25 late fee.

I called the company and asked them to remove the late charge.  They did immediately.  Why?  Two reasons.  First, I asked.  Second, I never make late payments, so they rewarded my good payment history by removing the late payment.  I’ve had this happen to me 3 times in about 10 years of credit card usage.  Each time I called and they removed the charge.

Credit Card Interest

We’re paying down debt, and one thing that slowed our progress was our credit card APR of 13.99%.  I called to ask to have the rate reduced.  I had to talk to a supervisor, but she lowered our rate to 9.99%, and she gave me enough reward points to cover the cost of our annual fee.  I saved a few hundred dollars right there in about 10 minutes, just by asking.  (But when I got an offer to move my balance to a 0% APR card a few months later, you better believe I did it.)

Grocery Store Purchases

Asking for discounts isn’t limited to credit cards.  If I see something at the grocery store that is at the sell by date, I’ll ask someone in that department to discount it.  I’m only successful here about 50% of the time, but still, that’s half the time that I save more than I would if I hadn’t asked!

Garage Sales & Craigslist

I love shopping garage sales in the summertime.  If things are already priced dirt cheap, I don’t haggle, but if the price is too expensive, I have no problem asking for a lower price.  Most of the time people will say yes because they just want to get rid of their stuff.

Likewise, people on Craigslist expect you to ask for a lower price than they have listed.  Just don’t get ridiculous with the amount you ask.  That can be insulting for the seller and usually won’t lead to a deal.

These are just a few examples of how I’ve saved by asking for a discount.  However, any time I think asking might lead to a discount, I ask.

What was your most successful discount you got just by asking?

MelissaB
MelissaB

Melissa is a writer and virtual assistant. She earned her Master’s from Southern Illinois University, and her Bachelor’s in English from the University of Michigan. When she’s not working, you can find her homeschooling her kids, reading a good book, or cooking. She resides in New York, where she loves the natural beauty of the area.

www.momsplans.com/

Filed Under: credit cards, free money, Frugality, Saving, ShareMe Tagged With: asking for discounts, credit cards, discount, discounts, shopping

How Big Is Your Circle Of Support?

April 2, 2013 By MelissaB 6 Comments

You’ve likely heard the phrases, “No man is an island, entire of itself” and “It takes a village to raise a child.”  What these phrases get at is the importance of having a circle, a group you can depend on.  Although we like to think we can do it all alone, life is generally much easier if we get through it with support from others.

Years ago, before people moved frequently, their circle consisted of family members, neighbors, and friends.  Their circles were large and included not only their own family and friends, but their parents’ friends.

Now, people move frequently, and we are connected more through social media rather than in person.  It’s increasingly easier to be isolated (and many people are), yet we still ultimately need a circle of those close to us.  The larger your circle, the more advantages you have and the healthier you’ll be.

Why We Let Friendships Lapse

In our busy world, friendships and connections often fall by the wayside because they require time.  You need to spend time nurturing your friendships, connecting, and helping others.  Some days you may be so busy that you feel that you don’t have time for yourself, let alone others, but ultimately, nurturing your circle will reward you in multiple ways.

The Benefits of Having a Large Circle of Support

How big is your circle of supportThere are multiple benefits to having a circle of support.

1.  A healthier life.  Time recently reported that those who have strong social ties are more likely to live longer than those who don’t.  In fact, researchers at Brigham Young University and the University of North Carolina at Chapel Hill found that “a healthy social life may be as good for your long-term health as avoiding cigarettes” (Time).

2.  More likely to get a job.  The larger your circle is, the more people who can help you find a job.  Mashable argues, “People get jobs through other people, not computers.  By having a personal connection to the company you’re applying for, your chances of getting a job multiply.”

I saw this first hand in the 1980s when my dad was unemployed for nearly two years.  My mom babysat at home, and one of the moms of the children she babysat for, Carla, was able to get my dad a job interview at the company where she worked.  When the man interviewing my dad started to smoke during the interview, my dad did, too, which was enough for the boss to decide not to hire him.  Carla was able to smooth things over, and my dad was ultimately hired.  Without Carla in our circle, who knows how much longer my dad would have been unemployed.

3.  More likely to feel secure.  If you have a difficult decision to make, you can bounce ideas off your friends and those in your circle.  If you run into hard times, you know your circle of connections can help support you.  Having a safety net, so to speak, in the form of friends and family, can make you feel more safe and satisfied with your life.

4.  Feel better about yourself.  Giving to others can make us feel better about ourselves and our own life.  If you’re part of a circle, you’re expected to give back.  They help you; you help them.  As you help friends and family, you also feel better about yourself.

In our society, it’s increasingly easy to let personal relationships fall by the wayside.  Resist the urge and take the time to nurture your friendships and family connections.  You’ll benefit financially, medically and personally.

 

 

 

MelissaB
MelissaB

Melissa is a writer and virtual assistant. She earned her Master’s from Southern Illinois University, and her Bachelor’s in English from the University of Michigan. When she’s not working, you can find her homeschooling her kids, reading a good book, or cooking. She resides in New York, where she loves the natural beauty of the area.

www.momsplans.com/

Filed Under: General Finance, ShareMe Tagged With: circle of support, friends, support

In a Car Accident? Should You Pay Out of Pocket for Repairs?

March 13, 2013 By MelissaB 11 Comments

Our Chicago winter this year has been a lot less like a Midwest winter–the snow storms have been few and far between.  A few weeks ago we finally got hammered by a storm that dumped 10 inches over the city.  At the height of the snow storm I had to pick up my son from school.  As I waited at a stop sign, the driver behind me bumped into my bumper.

Luckily, the damage wasn’t bad.  When I took it to a repair shop for an estimate, they thought it would cost between $580 and $1,200 to fix depending on if there was any damage inside the bumper when they take it off to repair it.

Surprisingly, the woman who hit me decided she wanted to pay out of pocket rather than go through insurance.  When I told her that the repair would take 2 to 3 days and we’d need a rental car during that time, she agreed to cover that cost, too.

This is the second time I’ve been rear-ended in 5 years, and both times the repairs were less than $2,000.  Both times the drivers opted to pay out of pocket.

If you’re in a minor fender bender, should you pay out of pocket rather than going through insurance?

Reasons You May Want to Pay Out Of Pocket

Pay out of Pocket for Repairs1.  If you have a high deductible.  If you have a deductible of $1,000, for example, paying out of pocket if the repair is just a few hundred dollars over that amount may make sense.  You’ll save yourself from an increasing premium.

2.  If your insurance premium will increase substantially.  Each insurance company is different, but rest assured that if you cause an accident and file a claim, your insurance will increase.  Some insurers increase your premium by 10% and others by 20%.  You may be able to call your insurer and ask how much the premium will go up before you decide to pay a claim or not.

3.  If this is your second accident.  While you’ll pay an increased premium for one accident, if you file two claims within a few years of one another, the increase is substantial.  For instance, State Farm generally charges a 10% increase in premium for the first claim, but that amount increases to 45% for the second claim.  While it may hurt your budget to come up with a thousand or two to pay out of pocket for the repairs, that may be the better option if you’re facing a substantial increase that could last several years.

4.  If your insurance doesn’t have an accident forgiveness clause.  Some insurers offer an accident forgiveness clause, meaning, if you’ve been with the company for a certain number of years (usually 5 to 9) with no accidents, the insurance company won’t increase your premium on the first accident you file.  Again, though, you may want to save this benefit for a more substantial accident that you can’t afford to pay out of pocket rather than when the repair is relatively minor.

If you cause an accident, don’t automatically file a claim.  There are benefits to paying out of pocket.  You just need to understand your insurance policy as well as know exactly how much the repairs will cost before making a decision.

If you’ve caused an accident, did you pay out of pocket rather than filing a claim?

Original img credit: Oops, by fortes on Flickr

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MelissaB
MelissaB

Melissa is a writer and virtual assistant. She earned her Master’s from Southern Illinois University, and her Bachelor’s in English from the University of Michigan. When she’s not working, you can find her homeschooling her kids, reading a good book, or cooking. She resides in New York, where she loves the natural beauty of the area.

www.momsplans.com/

Filed Under: Cars, Insurance, ShareMe Tagged With: accident, car insurance, cars

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