Comments for HELP YOUR MONEY

Comment on Cash Value vs. Term Life Insurance by Smith

Smith — Wed, 05 Mar 2008 22:46:48 +0000

Hey Dave,
I was looking to see your evidence against term life insurance with solid facts to support what you are saying in regards to this article. I am having trouble finding any advantages to cash value that don’t swing in the interest of the insurance company and at a great, unnecessary cost to the consumer. It seems the only people who could come out on top would be people who need additional tax shelters for their money, but 85% of the population can’t even max their contributions of their 401k to matching, let alone fully fund a single Roth IRA (a superior investment tool to cash value when comparing interest rates with a meager $5,000 yearly limit). As far as I can tell, about 1 out of 10 (being generous) have a need for additional tax shelters that possibly a Variable Life contract could provide, and yet 4 out of 5 policies sold in the United States are Cash Value policies. It is a fact that insurance agents make more in commissions on cash value policies than they do on term, and not in a marginal regard. Could it be that instead of doing what is right for the client the agent is seeking higher commissions? Why would the companies pay these higher commission on Cash Value products if they weren’t trying to provide greater incentive for their agents to push these products?
This seems to be the only explanation I can come up with. Please site specific references for me if you have some time.
Thanks!

Comment on ING Direct Orange Savings Account Review by Gandalf

Gandalf — Fri, 29 Feb 2008 06:45:59 +0000

I tried online savings accounts at ING, HSBC, Emigrant, and E*Trade, so I would know for sure which one is the best. ING won hands-down. E*Trade was a complete waste of time. I’m a computer guy, and I know how to jump through hoops, but the application was time-consuming and severely limited. Emigrant and HSBC are great, but each has its limits: Emigrant only allows 2 external accounts and HSBC took a while to set up and to link my external accounts. ING was fast, easy and allows me to link up to 3 external accounts, which were processed quickly. Plus, ING allows your friends to get $25 just for opening an account with at least $250. The referrer gets $10. Just shoot me an email if you want a referral link. (gfarnam at gmail). Hope that helps.

Comment on My Samsung Nightmare: What Happened To Customer Service? by WLF

WLF — Sat, 16 Feb 2008 20:53:35 +0000

Do NOT buy Samsung.

Purchased new 46” DLP television on 1/31/07.

TV stopped working on 11/5/07 (still under warranty).

Samsung customer service put me in touch with one repair shop that didn’t do anything. Two weeks later, I would put in touch with a second repair shop. They wouldn’t do anything. Finally, I was approved for an exchange on the unit (after being repeatedly lied to by customer service). New unit arrived 1/9/08 and did not work! More service techs, many more phone calls to Samsung. Second unit finally arrived 2/8/08. Three months I was given the run-around. CSRs were unknowledgable, rude, condescending, and all-around worthless in my quest for satisfication.

Buy Sony, Panasonic, whatever, just not Samsung! Their theory of customer service is “We’ve already got your money. Go F yourself.”

for more information go to myspace.com/boycottsamsung

And I completely agree with the previous poster’s suggestions. I was polite as could be through this process (not that it got me anywhere), but above all else write down the date, time, and CSR’s name for *every* call you make.

Comment on Financing a New Car: A Bad Investment by Nogate

Nogate — Wed, 06 Feb 2008 00:05:47 +0000

Call me crazy, call me insane, call me lunatic, call me a dreamer.

I’m about to finance a 21000.00 car at 6.9% over 48 months.
In other words, that car will cost me around 25000.00 in 4 years.
Thats 4000.00 im giving away to the bank.

I 100% agree that car is a very investment. Financing it is even worst.

But sometime you just want to enjoy your life sooner, have some fun sooner. We all die anyway.

Its a big dilema, should i save every single peny, take the city bus, use my bicycle to go to work and eat sandwiches everyday, and buy myself a franchise like Mcdonalds after 30 years of saving ?

or should i finance a car every 4 years over 30 years ? if you do that you will spend 500000.00+ in transportation after 30 years if u include gas and insurance.

With 500000.00 you won’t have enough to buy a mcdonalds but you certainly will have enough to finance another 500000.00 to buy a 1mil franchise. or open your own.

Now who will be richer after say 50 years ? Does it worth it ?

I see so many youngs wanting a camaro or a mustang or tuning their car into a 50000.00 modified car.
Also if a car can enhance your social life, meet new people possibly help you to get married,, money sure can’t do that… only thing you can buy with money are sex workers or people wanting your money.

Its really a choice you have to make.. Die poor and happy or die rich and wishing something you never had when you were younger.

Comment on Financing a New Car: A Bad Investment by mikull

mikull — Mon, 28 Jan 2008 03:28:01 +0000

Personally, I like owning a new car. 0 - 2% interest makes it worth financing for me… and the if I need the amount I would have saved from a small amount of interest or the difference between a similar car in used condition come retirement, I’m seriously in trouble.

I believe in living for today, and working for what I want. It’s a luxury to own a new car, especially one you really wanted. I work, save for retirement, and budget for a car payment because it makes me happy. That’s an investment I get a return on every day when I drive to work: a car I want to be in.

Comment on Avoiding Bank & Credit Card Fees by Tomiko

Tomiko — Sat, 19 Jan 2008 11:06:57 +0000

hello tim. first upon thank you very much for this interesting blog, I really appreciate your work. I also agree with you on why we should double check the offers and the credit card before we purchase it. Again thanks for this informative content.

Comment on Save Money on Car Insurance by susan

susan — Sat, 19 Jan 2008 10:53:06 +0000

Hi Jed, I think instead of hopping around we can have enough information about can insurance through internet. It is very important. I found this method effective since i can view different types of insurances simultaneously and can choose correct one. However, about the article i will rate it *****. Good one indeed.

Comment on Protect Your Credit, Understand the Risks by Michael

Michael — Sat, 19 Jan 2008 10:46:26 +0000

HI, when i started reading the page i never thought this would be so interesting. I really agree with the views explained in this blog. One has to be very careful while applying for a loan or if you are not in a position to repay your previous loan but want to take some more. A good Credit score is much needed for a borrower to pass the loan. Anyway, the information is really interesting. thanks for this article. i appreciate the efforts.

Comment on Best Price Comparison / Price Search Engines by Maria

Maria — Fri, 18 Jan 2008 09:52:53 +0000

I like to shop for my electronics & electronics &Computers
products from Buy.com

Comment on Understanding The Basics Of Fractional Ownership by Daniel Giannini

Daniel Giannini — Wed, 02 Jan 2008 19:08:06 +0000

Fractionals are the wave of the future in gaining access to luxury assets. The Fractional Concierge website (http://www.TheFractionalConcierge.com) is the world’s first website that brings together ALL assets sold as fractionals: Real estate, aircraft, sea vessels, automobiles, recreational vehicles, and everything else from handbags and artwork to dogs and organically grown meats. The website gives you detailed information, pricing and photos on hundreds of fractional assets so you can peruse the many different options.

Comment on Saving Face: Keeping Up Appearances Saves Money by Heather

Heather — Fri, 07 Dec 2007 06:06:04 +0000

Many dental/dental hygenist programs at area colleges offer clinics at low cost to the public. They don’t offer all dental services but can save a lot of money on routine cleanings or more depending on the program.

Comment on Get More Traffic to Your Blog with BlogRush by moneysaving

moneysaving — Tue, 23 Oct 2007 10:08:03 +0000

Thank you for great tip, Tim. This BLogRush concept looks very impressive.

Comment on Save Money on Car Insurance by Payday loan

Payday loan — Thu, 18 Oct 2007 08:27:20 +0000

It is a great article to follow, but I also like Irfan’s view, that is interesting as well. I will try all the things and check which one is more effective.

Comment on Massachusetts Health Insurance Changes by Brad Ford

Brad Ford — Mon, 15 Oct 2007 13:44:02 +0000

Your math is not correct. If you paid $2,600 in premium during a year, you would probably be “not profitable” if you incured $1,500-2,000 in medical expenses. While consumers focus on the cost of the services received, the cost of managing a large health insurance program is huge. Since the government is involved, the expense ratio for the Mass plan is probably 30-40% of premium.

Comment on Cognitive Reflection Test (CRT) - Answer right for $5! by confused

confused — Fri, 28 Sep 2007 23:28:53 +0000

I don’t get it. How is it 5 cents? 10 cents and one dollar equal $1.10.

Comment on Financing Your Fractional Ownership Purchase by Kim Donovan

Kim Donovan — Mon, 10 Sep 2007 17:13:10 +0000

FirstAgain LLC offers an unsecured loan product that is ideal for purchase of fractional ownership interests or timeshares. The require excellent credit, but their rates are very attractive.

Comment on Save Money on Car Insurance by Irfan

Irfan — Fri, 31 Aug 2007 22:49:04 +0000

I’ve always found that shopping around for insurance helps. What i do is get one quote and then other company to beat that quote. Then i ask third company to beat the best quote. This way i end up with the cheapest price :)

Comment on Hidden Fees in Credit Cards by Shiela

Shiela — Mon, 06 Aug 2007 21:17:47 +0000

It is really important that we read the TOS of the credit card before we apply for that card. Also, taking note on the introductory rates is important.. take not how is the interest after the introductory period.

Comment on 5 Tips for Saving Money by Paul from Jingle

Paul from Jingle — Tue, 31 Jul 2007 22:37:33 +0000

How about a sixth tip?

Americans spend over seven billion dollars per year on directory assistance charges. Phone companies will typically charge about two dollars per 411 call — charges which are completely unnecessary given that there are now free directory assistance services like 1-800-Free411.

Hopefully, this can save readers at least a couple dollars on their monthly phone bills.

Thanks,
Paul

Comment on Purchasing A Fractional Property: Final Questions To Ask by juanita

juanita — Tue, 31 Jul 2007 00:14:15 +0000

thank you for your well written articles on fractional financing. i am considering it and had no clue as to what it was, how it works or what it entails. again, thank you!