Author: Staff (Page 9 of 14)

Home prices keep dropping

January 31, 2012 / Staff

Here’s more bad news on the housing front:

Home prices fell for a third straight month in November in nearly all cities tracked by the Standard & Poor’s/Case-Shiller home-price index.
The declines show that most homeowners are not reaping the benefits from some signs of an improving housing market.
Prices dropped from October in 19 of the 20 cities tracked.
The biggest declines were in Atlanta, Chicago and Detroit. Phoenix was the only city to show an increase.

If you’ve been waiting to purchase a home, this is good news. But for many stuck in underwater mortgages, this is terrible news.

Real Estate

home-price index homeowners housing prices underwater mortgages

Research will help you with mortgages

January 30, 2012 / Staff

If there’s one thing we’ve learned from the financial crisis, you have to do your own research. You can’t rely on anyone else these days. It’s a shame, but that the fact. Ratings agencies, mortgage brokers and bankers have all shown that they only care about themselves.

Fortunately, we have the new Financial Consumer Protection Bureau, but it will take a while before all their regulations kick in. So get informed by going online. Learn about the interest rates and other factors that will help you with mortgages, refinancings, foreclosure and other issues. Compare Natwest Mortgages quotes online on Know Your Money. You are such a better position if you’ve done your own research ahead of time. People in this industry throw around jargon and numbers to confuse you, so make sure you also take your time.

You don’t have to make decisions on the spot! Keep that in mind. It’s always acceptable to say that you want to go back and do more research. If anyone pressures you, it’s probably because it’s not a great deal. If is sounds too good to be true, it probably is!

Lastly, figure out your real budget before you start shopping. Many people don’t do this and then they get into trouble.

Banking, Budgeting, Deals, Frugality, Personal Finance

mortgage quotes mortgages

Savings rate down

November 29, 2011 / Staff

Here’s some interesting news on the national savings front.

The nation’s savings rate has dwindled as consumers try to juggle rising prices and stagnant wages.
According to government data released Wednesday, the national savings rate was 3.5 percent in October, a slight improvement from the previous month but significantly below the 5 percent rate seen for most of the past two years. During the throes of the recession, the savings rate had skyrocketed above 8 percent.
“They spent it. That’s the short answer,” said Paul Dales, senior U.S. economist for Capital Economics. “It might be a lot of households don’t have a choice.”
Economists blamed higher gas and commodities prices for sending the savings rate to its lowest point since 2007. After remaining virtually flat in 2010, the consumer price index inched up this year as prices rose for essential products such as cotton and corn. Although consumers received bigger paychecks this year thanks to a payroll tax holiday, many found that the extra money was eaten up by increased fuel costs.

Another item to consider is that frugality is becoming less popular. Of course people are still looking for deals, but overall spending is up. We just had a record Black Friday and Cyber Monday, so people are flocking to the stores. Unemployment is still high, but more people perhaps are secure in their jobs after years of downsizing slows down.

Budgeting, Frugality, Personal Finance, Retirement, Saving

Black Friday Cyber Monday gas prices national savings rate personal saving rates personal savings recession saving rates savings unemployment

How Much You Could Save If You Did Car Maintenance Yourself

November 22, 2011 / Staff

Maintaining your car extends the usable life of the vehicle, but it can add up to big bucks over time. Instead of paying for labor per hour in addition to overpriced parts at the dealership, you can do much of this work yourself. Here are a few ways you can save big by doing your own car maintenance:

1. Change Your Own Oil

This is an easy way to keep your engine running smoothly and avoid car trouble. Pick up the filters and fluid at your local parts store along with an oil filter wrench and a container for the used oil. Depending on whether you use traditional oil or synthetic, you can save 50 percent or more in just a few minutes. Greasing the rear end is a part of most oil changes performed in a professional auto shop. If you’re not up to this task, alternate DIY oil changes with paid service.

2. Maintain Your Own Tires

It won’t cost you a thing to rotate your own tires, but the bill at your local garage can be $50 or more. While you’re at it, check your tire pressure. A tire gauge only costs a few dollars, and many gas stations will let you have as much compressed air as you need for free. Both of these habits will extend the life of your tires and improve your gas mileage to save even more.

3. Change Your Own Battery

This one’s a trick! No one needs to change their own battery. Almost every auto parts store will check out your old battery and install it for free, if you need to buy one. They can also tell you if your battery is fine, but you need a new alternator or solenoid. Remember, today’s batteries don’t give out slowly like old ones; they tend to go all at once. If the expiration date is approaching, do yourself a favor and buy a new one. Completing this maintenance task can save you a few hundred dollars when you factor in the labor cost, an inflated price on a new battery at a repair shop, and calling a cab when your car won’t start.

Of course, these are just three of the quickest and easiest ways to get your feet wet in the DIY car maintenance game. If you’d like to dive right in, purchase a repair manual for your car. Before you know it, you’ll be able to replace headlights and change brake pads like a pro!

Frugality

car maintenance

How to be Your Own Emergency Roadside Assistance

November 4, 2011 / Staff

Roadside Assistance.

When you have car trouble and are stranded by the side of the road, it is a stressful event. You can reduce your worry by being ready and knowing what to do before you get into this kind of situation. This is especially important if you have car problems in a remote area and don’t have roadside assistance for your vehicle.

There are several types of car problems that can cause you to be stranded, including:
– a flat tire
– engine overheating
– running out of gas

You can be prepared for these events by having a car emergency kit in your vehicle at all times. This kit has everything you need to handle basic car emergencies so you can care for yourself and your family. You need to keep basic tools in it such as:
– fix-a-flat
– extra engine oil
– jack
– extra brake, tail and headlight bulbs
– ratchet set
– spare tire
– jumper cables

You should periodically check your spare tire to make sure it is properly inflated. Make sure that you learn how to use each of the tools properly and that you know how to change your tire safely in the event of a blowout. You can easily store your tools in a crate or large duffel bag in the trunk. Keep your jack and related tools neatly stored near the spare tire, and consider having an extra jack in the car as a backup.

Your emergency kit will also need other supplies for your passengers, for safety and to deal with different seasons of the year. You should keep orange road markers in your kit to place behind your vehicle to let oncoming traffic know that you have broken down. A crank radio and a flashlight with extra batteries can also come in handy if you break down after dark.

When winter rolls around, you need to add extra emergency supplies to help you deal with a break down in cold weather. These items include:
– blankets
– extra winter clothing (coats, gloves, hat)
– tire chains
– snow shovel
– rock salt or sand

If you are prepared, you will be able to dig yourself out, survive the cold and get home safely. One of the best tools to keep with you at all times is a charged cell phone with a list of emergency contact numbers. This way, if you need extra help, you can attempt to contact someone.

You also want to have a full first aid kit in your vehicle at all times. These can be purchased pre-packaged for a small charge. This will take care of minor injuries that may occur. With preparation and the right tools, you can be your own emergency roadside assistance when a car problem occurs.

Personal Finance

roadside assistance