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Chrsistmas Deals this Weekend

Everyone is looking for Christmas deals this weekend to finish up their Christmas shopping before the holiday.  We just finished ours this afternoon, and we survived! Here are a few deals that caught my eye recently.

Blockbuster Free Trial

A Blockbuster free trial of their online movie service can be a good stocking stuffer if you have any movie buffs in your family.  The free trial allows you to try out the service and see how you like it before committing to a monthly membership.

Omaha Steaks Deals

If you’re not a meat eater this won’t be for you but if you are there are some good deals to be had.  In addition to their Omaha steaks free shippping offer they are also running thier 19.99 sale.

They have a whole range of foods like filet mignon, top sirloins, pork chops, bbq pork, burgers, and chicken fillets on sale for $19.99.  With regular prices on the food packages ranging from $35 – $60 the sale offers considerable savings -  $19.99 Sale

Angies List Deals

Angies List is offering 50% off their gift memberships during the holidays. Typically you need an Angies List promotion code to waive the activation fee but for the gift memberships they’re waiving the fee. 

Gamefly Deals

Gamefly is like Blockbuster Online but for video games, not movies.  Once you’re a member you can select a certain number of games and they’ll ship them to you.  After you finish those games you send them back in and they ship you the next ones on your list.  Gamefly is running a special this weekend, if you sign up for one month you get a second month free – One Free Month

Written by Ben · Filed Under Christmas, Deals >Comments (1) 

Free Flip Camera Giveaway – 60 Free Flip Cams

There are 60 free Flip cameras up for grabs over the next few days if you’re willing to share your best money tip.  The question being asked is:

“What is the savviest way you have made your money work harder for you this holiday season?”

If you leave your answer to that question in the comments on one of the sites below, you could win one of the Flip cams:

The site owners will be picking the best tips and deciding who gets the Flip cam, so make your savvy money tip a good one! I didn’t see any rules about submitting the same tip on multiple sites so you could write it once and share it on all sites, not a bad prize for a minutes worth of typing!

Note: American Express is actually giving away the Flip Cams through the sites listed above. I’m not connected with the contests and don’t have any Flip cams to give away. Although I do have one of my own and it’s pretty slick, I used it for my recycle video on Blog Action Day.

Good luck!

Written by Ben · Filed Under Contest >Comments (0) 

Joining an Investment Club

Yesterday we looked at some investment club tips that were personal considerations to think about before joining an investment club.  Today my former co-worker looks at the importance of evaluating the investment club itself and a few things to look for.

Defined Investment Goals

Each member of the group needs to have the same goal in mind and the same methods of achieving that goal. If some members of the group are only interested in making a profit, instead of learning more about investing and the details involved, there will be a divided set of goals. All members of the club should have the same philosophy about investing.

Long Term Goals

Members of the club should be clear on what the long term goals of the club are all about. There should be an understanding established of what amount of the profits that are realized from investments are going to be held and which amount is going to be reinvested immediately back into the stock market. There should be an equal amount of growth and stability that is agreed upon.

Investment Club Meetings

It’s important that members of the group are able to attend all meetings. When there are decisions that need to be made about ongoing investments and future investments it’s important that all members are part of the decision process. If the group decision is held up because some members don’t attend regularly the endeavors of the investment group are jeopardized.

Investing Accountability Checkpoints

It will be very important that the investment club have checkpoints in place that account for all investments, profits, losses, and other money issues. These checkpoints should be readily available for all members of the club to read at point in time.  For example decisions on buying and selling stock. Before any stock is purchased or sold it will be required that all members of the investment club are part of the study of these stocks and part of the final decision.

Written by Ben · Filed Under Investing, Stocks >Comments (3) 

Investment Club Tips

Investment clubs startup all over the US each year and help thousands of potential investors learn the basics of the stock market. I’ve never joined an investment club but I have a family member and a former co-worker who are investment club members so I asked them to offer a few tips on starting or joining a club.

Before you decide to invest your money with other people, here are a few things you should consider.

Have Realistic Expectations

If you’re joining an investment club to make a killing in the stock market, you’ll most likely be very disappointed. The goal of an investment club is to learn more about the stock market and if you have dreams of becoming rich you’ll be starting the club for the wrong reasons. Joining an investment club means joining for a long period of time.

You’re Not a Professional Trader

Starting an investment club doesn’t mean that you have to be an expert on the stock market. In fact, an investment club is ideal for a group of amateurs who want to learn about how the stock market works and what it can do for them. An investment club should be a safe environment in which you can invest a little bit of money and not worry about losing a large amount of your hard earned dollars when something unexpected happens.

Minimum Investments

You shouldn’t need a lot of money to start or join an investment club. There will be a minimal fee for each month’s contribution, just make sure that it fits into your budget. If it’s a new investment club, you’ll have the chance to determine what the minimum monthly contribution should be each month when you have your first meeting.

Willingness to Debate & Compromise 

One thing that you should keep in mind is that your voice will be part of the larger group and you may not always have a say in which stocks you want to invest in. If you’re unable to sit back and let another decision take the place of something that you would rather see, then an investment club might not be for you. You’ll need to have the ability to let the majority rule whenever a decision is made.

You Might Lose Money

Be aware that you may never realize a profit from the stock market through your club. One of the important goals and features of an investment club is that you benefit from the learning experience of being with other people with the same interests in the stock market. No one likes to lose money but if you do make sure you learn from the loss.  Analyze what went wrong with the stock picking process and figure out what you’ll do differently next time.

Written by Ben · Filed Under Investing, Stocks >Comments (5) 

Christmas Shopping Deals on Name Brand Goods

Christmas deals on high end items like jewelry, watches, and designer clothes may be easier to find this shopping season.  Some luxury brands are starting “private sale” websites where they sell their purses, watches, shoes, clothes, etc in online sample sales, according to a recent New York times article.

Luxury items aren’t really my thing but if you lust after name brand products, some of the private sale websites may be able to get you some of the best christmas deals, high end merchandise at considerable discounts.  Below are some of the websites that the article mentions:

I’ve never been to a sample sale, when I sold on eBay I always bought surplus and overgoods from a third party.  Based on the article, sample sales sound like a bit of a zoo, with a big line and wait to get in.  Then, once inside you dash around trying to find the best deals before everyone else does, like the sample sale scene from the Confessions of a Shopaholic movie.

The private sale websites get rid of the waiting and dashing and can still save you a good deal of money off the retail price. So if you’re looking for something name brand this year, these may be some of the best websites for luxury christmas shopping.

Written by Ben · Filed Under Deals, Shopping >Comments (2) 

ShareBuilder Promotion on Kids Investment Accounts

ShareBuilder Promotion – $25 Stock Gift Offer

ShareBuilder is running a promotion for anyone who wants to open a custodial account. If you open an investment account for your kid, ShareBuilder will match the first $25 you deposit into the custodial account.

Right after I read about the account bonus offer I saw an interview on Fox Business news with Dan Greenshields, the President of ShareBuilder, that talked about giving stock as a gift and ShareBuilder’s custodial accounts.  He estimated that about 10% of their business are custodial accounts and the average balance of those accounts is around $1,000. 

Buying Stock for Kids with ShareBuilder

With balances in the $1000 range, it sounds as though many parents see the ShareBuilder account as more of a way to teach their kids about the stock market and investing than as a way to pay for their college education.  Greenshields mentioned that many parents will buy their kids stock in the ShareBuilder once or twice a year, at Christmas and maybe on their birthday.  Since ShareBuilder allows you to buy partial shares of a stock or fund, parents can buy on events like these without having to worry if they’e putting in enough money to buy a whole share.

Although parents can buy 8,000 different stocks or funds through Sharebuilder, a lot of moms and dads buy stocks of companies that their kids might be familiar with like Disney, Apple, or Marvel (comics). Some of the other popular stocks held in custodial accounts are Google, GE, and an S&P 500 ETF.  According to Greenshields you can also use a Coverdell ESA to save for college instead of a custodial account.

Do Kids Want Stock for a Gift?

The lady interviewing Greenshields commented that not many kids are probably very excited to get stock as a gift.  My guess would be that it’s probably true when kids are younger and that they won’t really start to appreciate it until they get older.

However, I think it’s still a good idea and it even makes sense to buy it when they’re young.  That way when they’re teenagers they can look back at how you’ve been steadily investing in the account for a number of years and how it’s value has increased.  Of course over a shorter time period, especially the last 5 years, they won’t have as much to show for their money.   But if it’s a longer timeframe, say 10 years, then the money you’ve been investing might make an impact on their teenage brain.

When they see you’ve been putting money away for a decade and now it can help them buy a car or contribute toward some other big purchase, hopefully they’ll see the value of investing over time.

My Experience with Stock Gifts

I started asking for shares of Wal Mart stock for birthdays and Christmas when I was in elementary school.  Of course ShareBuilder didn’t exist back then so my grandparents would just give me IOU’s for the stock. Here’s something I shared as part of my grandfather’s memorial on this site:

My wife’s engagement ring will always remind me of my grandfather because he was the reason that I, as broke college student, was able to afford it.  Ever since I was a little kid, he would excitedly tell stories of speeches given by Sam Walton at the Wal-Mart shareholder meetings. 

 

All the enthusiastic talk of splitting stock and doubling shares convinced me to ask for Wal-Mart stock on every gift giving occasion as I grew up.  The constant growth and splitting of the stock over the 80’s and 90’s left me with more than enough shares to fund the purchase of a diamond engagement ring when I met the love of my life in college.

I can still remember sitting at the bus stop one morning in 5th grade and figuring out how much all that Wal-Mart stock was worth. Of course, not every kid will be as much of a money dork as I was (am) but getting gifts of stock definitely made an impression on me. 

I do think watching the balance grow is kind of infectious.  During the interview, Greenfield noted how his son actually puts part of his allowance into his Sharebuilder account.  Of course, his dad’s the president of the company so I wouldn’t expect that as a typical result. However, I think once a kid starts seeing some growth in their account (due to contributions and/or appreciation) they’re more likely to be excited about investing.

ShareBuilder Promotion

If you think that your kids will respond the same way to having their own shares of stock that I did then the ShareBuilder promotion they’re holding would be a good way to get started.  As I mentioned earlier, ShareBuilder announced it will match the first $25 deposited into a new custodial account. 

One of the reasons that ShareBuilder can be a good way for investors to get started in the market is that they let you buy stocks for only a $4 fee.  Since there are no account minimums and no inactivity fees, they are pretty good for custodial accounts that only have a little money invested just a few times a year.

You can open a ShareBuilder Custodial account by clicking here.

Written by Ben · Filed Under Investing, ShareBuilder >Comments (0) 

Lending Money to Family – Reader Struggle

Lending money to family and friends is no picnic, just ask Brandon. He’s a reader who left the comments below on the post from earlier this year about lending money to family.

“My wife’s family does not have much care when it comes to money. they don’t make very much, have horrible credit, and their kids are following suit. My brother-in-law borrowed my car to drive to Salt Lake City and fell asleep totalling the car (but walked away). I only had liability on it so I was out $1500 which he said he would pay back. 3 years later- not a dime.”

Fortunately for my wife and I, our siblings and parents are good with their finances so we’ve never had to worry about whether we should lend money to them or not.  I can see how your first instinct is to help out a family member in need, but things can get messy.  Brandon goes on in the comments to share more details.

“My mother-in-law got behind on her mortgage and asked if I could lend her the $1k for two weeks till her next payday. that time all went well- no worries. then the next month the same thing and the next month. then she’d only have some of the money to pay back or one month none at all. She owed us $2500 (which is a lot for us i’m only 28).

 

Then she never borrowed anything for a year or so. Then the same thing again, with the guilt trip saying she can’t miss another payment or they’ll forclose. So I lend her the $1k which doesn’t get repaid. It’s now Christmas time so there is no chance of her having extra money to pay me back for who knows how long.”

This next part seems to be the real kicker, the thing that would probably get under anyone’s skin. Borrowing money and then not spending it wisely.

“I feel they just think we’re an ATM for them. The biggest problem I guess I have is that they don’t change the’re lifestyle to try and pay me back. My wife and I have 2 kids and a very modest house, no internet (i’m at work =D) a small tv with the cheapest cable package. Yet my in-laws have internet, x-tra movie packages and go out to eat more than us. I’m a very quiet person who like making people happy so I don’t wan’t to drive a wedge between us (that would kill my wife- her family is everything). What in the world can I do???”

I don’t have a good answer for Brandon since I’ve never been in that situation before.  I’m hoping one of you will have some tips and advice to share with him about lending money to family. If so, please share it in the comment section below.

Written by Ben · Filed Under Debt, Personal Finance >Comments (11) 

Year End Tax Planning Tips Follow Up

The year end tax tips I posted last month overlooked a few potential tax planning tips.  Here they are:

Itemized Deductions

You may be able to save taxes this year and next by applying a bunching strategy to “miscellaneous” itemized deductions, medical expenses and other itemized deductions.

Homebuyer Tax Credit

Since the last article the $8,000 first time homebuyer credit has been extended to homes purchased before May 1, 2010 and the home buyer tax credit has been expanded to certain existing homeowners.

Estimated Tax Payments

If you anticipate a state income tax liability for 2009 and plan to make an estimated payment, consider making the payment before the end of 2009. However, this prepayment of state income tax may not be a benefit if the alternative minimum tax (AMT) applies.

Gift Tax Exclusion

You can save gift and estate taxes by making gifts sheltered by the annual gift tax exclusion before the end of the year. In 2009, you can give $13,000 to an unlimited number of individuals. This exclusion amount doubles for joint gifts made by a married couple

Early Mortgage Payment

Make your January mortgage payment before December 31st so you can claim the interest this year.

Happy tax planning and be sure to check with your tax advisor to see which of these tax strategies apply to you!

Written by Ben · Filed Under Taxes >Comments (1) 

Lending Club Bonus

Lending Club is giving away a $64.62 bonus to each person that signs up as a lender on the Lending Club website.  Not everyone is comfortable with the peer to peer lending model so Lending Club figured they’d let you try out the process of peer lending by letting you invest without using your own money.

According to the email I recieved, the Lending Club bonus value of $64.62 has significance because bank profits were $6.462 billion last quarter.  Since they are working to cut out the banks as middlemen, Lending Club is also making a symoblic gesture with their bonus.

The Lending Club review that I wrote up a while back focused on borrowing money but you don’t get the bonus for signing up to borrow money, only if you become a lender on the site.

To qualify for the bonus and dip your toe in peer lending:

  • Visit Lending Club using this referral link
  • Open and activate your account

Lending Club will deposit the bonus into your account and the $64.62 will be available for you to invest on the site. The email didn’t say how long the promotion lasts for. My guess is it’s good through the end of the month but if you’re interested, I’d sign up soon to make sure you get the bonus. Happy peer lending!

Written by Ben · Filed Under Peer Lending >Comments (0) 

Money Ning

Money Ning is the personal finance site I’m highlighting this week, run by David Ning.  I don’t remember the first time I visited his site but I do remember at the time not knowing his last name and wondering what in the world a Ning was : ) 

You may remember David from the Budget Travel Book giveaway earlier in the year, he’s the author of that book.  As you might guess from the fact he published a book, he’s quite action oriented, as you can read on his about page. Taking action is a big part of his personal finance philosophy, subscribe to his site and find out more about how he suggests you take action with your finances.

About David

David has been running Money Ning since July of 2007. He is an entrepreneur, published author, and soon to be father!

Recent Posts

Here are other posts from around the personal finance web:

Investing

Personal Finance & Debt

Holidays

Other

Written by Ben · Filed Under Personal Finance >Comments (4) 


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