Microsoft Office Only $9.95!
Microsoft Office is a software product that I use extensively every day. Microsoft Word and Microsoft Excel are the two apps that I use daily and Access and PowerPoint are programs that I’ll use off and on. Unfortunately, I don’t have Microsoft Office on my laptop at home which slows me down if I ever try and work from home. I’ve been putting off buying Office 2007 because it’s not cheap but just yesterday I found out a way I can get it for only $9.95!
Apparently, some companies have what’s known as the Microsoft Home Use Program where employees can use the enterprise license for a copy of the software at home. I just signed up for ours, here’s the email I recieved with a link where I can buy and download Microsoft Office 2007 for only $9.95!
I’ve listed some of the frequently asked questions below, it also talks about an employee purchase program that offers a good discount if you want to buy the software outright. So check with your company to see if they’re a part of these programs, it could save you a lot of money!
What’s the difference between the Microsoft Home Use Program and the Employee Purchase Program?
The Employee Purchase Program covers Microsoft’s most popular consumer software products that are typically bought in a retail store: Microsoft Office, Microsoft Money, various software, games and hardware. These products are for the employee’s personal use and are purchased and owned by the employee.
The Home Use Program covers Microsoft products for which our company is a licensed user with active software assurance coverage: Microsoft Office, Windows XP, Project, Publisher and Visio Professional. The employee pays only for the cost of the media and shipping. The employee may use software procured through the Home Use Program while employed by the company and as long as the software has active software assurance coverage. The employee does not own these licenses and must uninstall the product in the event that they terminate employment with the company.
How much of a discount is available?
The Employee Purchase Program discounts run between 20 and 40 percent, and the employee owns these products. The only costs incurred for the Home Use Program are for media and shipping; the employee can use the product as long as they are employed at the company.
What if I leave the company? Do I need to uninstall the software?
Any product purchased under the Employee Purchase Program is owned by the employee. Products installed under the Home Use Program must be uninstalled in the event that an employee leaves the company.
Can I re-sell the licenses I purchase through these plans?
No. Only the employee may use licenses under the Home Use Program. However, because an employee owns software purchased through the Employee Purchase Program, the employee has discretion over these products.
Is there a limit on the number of copies I can buy?
Employees are limited to one license of any Home Use Product and up to three copies of any one product under the Employee Purchase Program.
Quicken Online Trends
Quicken Online is a separate product from the desktop versions like Quicken Deluxe, but it does have some similarities. One of my favorites features of Quicken in general is it’s ability to automatically categorize your spending based on where you made a purchase. Quicken Online learns from all the data its users upload, so the more people that use the tool, the better it gets at recognizing and categorizing transactions.
One suggestion I had during the Quicken Online review was for the Intuit team to add in the ability to aggregate user data for comparisons. If you’ve ever used TurboTax you’ll remember the section towards the end where the software shows how you compare to other tax filers. I think it would be interesting and useful to see how you compare to other Quicken Online users in terms of where you’re spending your money.
The Trends feature of Quicken Online already offers some insightful data you can use for comparisons but nothing that compares your spending behavior to other people. Of course you can get a good snapshot of your income and expenses with the current Trends section. The charts make it easy to see where you’re spending most of your money for the current month and trending over time as well. Another cool feature is that Quicken Online looks at your highest spending categories and makes savings suggestions on how much you could save a year by cutting a certain percentage of that spending.
One last thing about Quicken Online and Intuit products in general that I think helps add to their usefulness is a program they call their Inner Circle. It’s a user feedback program that anyone can join. You have to sign a non disclosure agreement but you get early access to new features in some of their products and can offer your feedback so they can incorporate user preferences into their products. That wraps up the Quicken Online overview, if it sounds like a useful tool for your money then give it a try, it’s free – Quicken Online Signup
Quicken Online Mobile
Quicken Online was developed with the goal of helping people live within their means. In my conversation with Barron, he discussed how many people only have a little bit of money left over each month and can’t afford to pay late fees or bounced check fees and need to watch their money carefully.
Since Quicken Online is available from anywhere via a mobile device it’s setup to help consumers make quick buying decisions when they’re at the store. You can set it up so you can check your bank balance on the go so you know before you buy something what your balance is and whether you can afford it.
Quicken Online Mobile
If you use your phone to record checks written in Quicken Online you can take a quick look at how much is in your account and what checks are still outstanding before you spend money that you don’t have. Mobile access is available on all phones at m.quicken.com, using the WAP protocol to give you access to Quicken Online. In addition to checking your balance the software also has an ATM list, to help you find your bank’s ATM and avoid fees when you need money.
Intuit has also created an iPhone app that makes the ATM feature more intelligent. The iPhone app for Quicken Online will find ATM’s near your current location and highlight those that belong to your bank. You can also check your credit card balances from Quicken Online mobile so you have a dashboard of all the money you have in the bank and all the money you’ve spent.
Next post we’ll talk about the trends page that helps analyze your spending patterns and suggests ways to cut spending and save money.
Quicken Online Overview
Quicken Online is a free, web-based personal finance tool you can use to keep track of your money. Quicken Online product manager, Barron Ernst, got on the phone with me a while back to talk about the tool and some of the features it offers. I’ve been busy with our new baby and my job so I’m just now writing up our conversation. We talked about a lot of things so I’ll break it up over a few posts.
I’ve been using Quicken at home for more than 10 years so my first question was, “is there any benefit for me to use Quicken Online?” What I didn’t realize is that Intuit has setup Quicken Online to be more of a cash flow tool than a total personal finance application.
The desktop products, like Quicken Deluxe and Quicken Premier, have capabilities such as investing research, portfolio management, tax information, net worth tracking, etc. You could spend hours with these Desktop tools doing financial analysis and planning.
Rather than try and squeeze all that into Quicken Online, Barron and his team created the online version to be a tool to help you know where your money was going for cash flow purposes. It’s setup to help you avoid overdrafts, not spend more than you make, and to look at how you spend your money and make spending recommendations.
They’ve seen a lot of people using the advanced features of the destop software at home but also taking advantage of the “anywhere access” offered by Quicken online. Next time I’ll look at the mobile options they’ve created that let you use Quicken Online when you’re out to help make spending decisions.
Happy Financial Independence Day
I hope you all are having a safe and fun Independence Day! It’s a good time to talk about financial independence, which is the main reason why this site exists.
Financial independence probably means different things to different people but at the core I think it boils down to being able to make decisions independent of financial concerns. To me it means being able to pursue your life goals without being constrained by money.
I think that being able to control your source(s) of income is an important step to becoming financially independent. My thinking behind this is that if you can generate income independent of an employer then you have more freedom in terms of where you work, when you work, what specific work you do, who you work with, how long you work, etc.
Of course, finding ways to generate money independent of an employer takes time and most people can’t just jump into it full time because we all have bills to pay and mouths to feed. But we can start something small in our free time, what Robert Pagliarini calls “Your Other 8 Hours“.
Side Business Examples
I have a former co-worker who’s found something he can do in his time after work that pays his mortgage each month. He still works full time but he’s on the road to either leaving his job or his wife leaving hers. I put together a video case study a while back for our newsletter subscribers that walks you through what he does to make extra money each month.
I’m going to be sending out more case studies like this in the future, if you’d like to get them you can get the free newsletter here. There are things I’d do differently about the first video to make it better but I think it’s still a pretty useful case study.
You can read how my friend pays his mortgage each month by selling Legos and get some ideas on how you can start your own side business. Happy financial independence day!
Interest Rates & Mortgage Options
Once you’ve been pre-approved for a loan and found a house you want to buy the next step is determining the type of mortgage to use and when to lock in your interest rates. Due to the real estate decline and sub-prime mortgage meltdown, lenders and brokers are more careful with how they lend, what they lend, and who they lend to. You’ll need to consider the following when choosing a mortgage:
Interest Rates
About two months ago, the rates were at an all-time low. You could get an interest rate for less than 5%, which is crazy, but it happened. Now, you’ll see interest rates somewhere between 5.5% and 6%, which is nothing to cry about. This is purely my opinion, but I would lock in the rate as soon as possible, because with inflation rearing its head in the future and energy prices going back up, the interest rates will most likely continue to rise.
Points and Origination Fees
A mortgage point is equivalent to 1% of the loan amount, so if the price is $200,000, a mortgage point is $2,000. You can buy one of these points to buy down your interest rate, typically .25% for every point. A point is basically pre-paid interest. You pay mortgage interest up front. I wouldn’t suggest doing this, because the interest rates are so low right now.
An origination fee is usually charged by brokers, and it is a processing fee. Again, I wouldn’t deal with a broker that charges an origination fee. But be aware that if you don’t pay points or origination fees, many brokers will offer you an interest rate above prime, typically .25% above the prime interest rates.
Which Mortgage Is Right For You?
Stay away from interest only and adjustable rate mortgages. Ask anyone currently going through foreclosure if an adjustable rate is a good idea. People were buying houses with teaser rates of 1 or 2 years, then their rates were jumping up drastically, and the monthly payments were more than homeowners could afford. An interest only loan will never pay down the principal, so why own a home if your not going to gain any equity?
With rates as low as they are, I think fixed rate mortgages are your best option. A 15, 20, or 30 year fixed mortgage is the best way to go. If you know that your income will increase in the near future, consider getting a 30 year mortgage, because you can always pay a 30 year mortgage like a 15 year mortgage in the future. It will amortize the same. Don’t spend the extra money to refinance into a 15 year mortgage.
Next, we’ll get deeper into the down payment, private mortgage insurance, and second mortgages.
Erik Folgate is a personal finance writer and social media consultant.
Mortgage Pre-Approval When Buying a House
A mortgage pre-approval letter was very helpful for my wife and I when we started looking for houses about 8 months ago. My wife’s mom is a real estate agent, so she helped us every step of the way, but many agents won’t deal with buyers who aren’t pre-approved for a loan. They don’t want to spend a lot of their time to find out later that their buyer can’t qualify for a mortgage.
Buying a house, no matter what the market is like, should never be taken lightly. Owning a home isn’t always a good idea. You should only buy a house when you are financially and mentally prepared to go through with the biggest purchase of your life. Here are some questions to ask yourself before you start looking for houses with a real estate agent.
How much home can I afford?
Generally, about three times your gross pay is a good figure to start with. So, if you make $50,000 a year, you could look for a house somewhere between $125,000 and $175,000. Use this mortgage calculator to play with different purchase prices and mortgage types to see what your mortgage payment will be. If the payment exceeds 30% of your gross pay, then you should start lowering your target purchase price.
Where should I apply for a loan?
This depends on your situation and how much you are going to contribute to a down payment. If you shoot for putting 10% down, you’ll have a larger pool of options. Conventional loans from your big commercial banks typically require that you put down a 10% down payment and a stellar credit rating. They will give you prime rates and their fees have become more competitive since the housing meltdown. Credit unions are also a great option, but they also require larger down payments and good credit scores.
If you have a less than perfect credit score and you were planning on doing a 5% down payment, then consider applying for an FHA loan or for a loan from a wholesale lender. Mortgage brokers are better at offering these types of loans, because they can shop around between dozens of different companies. Just make sure that you don’t get nickel and dimed by the broker.
What’s on my credit report?
Before you start applying for a loan, request a copy of your free credit report from Equifax, Experian, and Transunion. If you are married, pull all three for you and your spouse. Make sure there are no mistakes on the credit reports. If there are, all three agencies now have an online system for credit report disputes. If you have any outstanding bad debts on your credit report, those most likely be required to be paid before you can close on the loan or get pre-approved.
What Documentation Do I Need To Provide To Get Pre-Approved?
- Copy of your driver’s license and social security card.
- Copies of all pay stubs from the past 30 days
- Bank statements showing all cash and investment assets
- Federal tax return W-2’s for the past two years.
- Any proof of other income such as alimony, child support, side business, etc.
There may be other documentation required later in the process or even for pre-approval, but these are the major documents required by most lenders for pre-approval.
The Advantages
You’ll be treated with more respect by buying and selling agents and they’ll be more willing to help you find the right home. Sellers will be more likely to accept your offer if they know that the deal will go through. You’ll also close more quickly, because the loan processing can be the part that hangs up a real estate deal the most.
Next up, interest rates and picking the right mortgage product.
Credit Report Disputes
One potential way to improve your credit score is to look through your credit reports for any misreported information, such as a late payment, and dispute your credit report.
1) Start off by getting a copy of your free credit report and looking for any errors.
2) If you find anything, check to see if the mistake shows up on your reports from other credit bureaus. You will need to file separate disputes with each credit bureau that shows the mistake.
3) Go to each bureau’s Web site for instructions on how to file a dispute, what happens after the bureau receives a dispute, and what actions to take if you think your identity has been stolen:
4) Clearly identify each error in the report and explain why you think the information is wrong.
Keep detailed records of what corrections you requested, along with copies of supporting documentation.
5) Don’t send any original documents if you submit your dispute in the mail; make photocopies and send those instead.
6) Keep a record of when and how you contacted each credit bureau, noting any follow-up phone calls and the names of the people with whom you spoke. In case the correction isn’t resolved smoothly, these records and notes will come in handy.
7) If you find any evidence of identity theft, such as an open account that you know you never opened, make sure to follow the credit bureau’s instructions for reporting identity theft.
The credit bureau should respond to your dispute in writing within four to six weeks. If the bureau agrees with you, the bureau will correct the mistake. If there is a dispute over the corrections you’ve requested, or if you think that someone has stolen your identity and is using your credit, be prepared for a long period of back-and-forth communication with the credit bureau and your creditors.
The burden of proof lies with the bureau, if it can’t prove that the information in question is correct then it has to delete it. However the process of resolving a dispute or unraveling a case of identity theft can be complex and lengthy. Good luck!
Three Money Traps to Avoid
When money is tight, it’s tempting to turn to quick fixes but some of them can have lasting consequences for your money and your future. Obviously times are tough and many people are faced with decisions they thought they’d never have to make but here are three money traps to watch out for.
Cashing in your 401(k)
You may be tempted to claim the money in your retirement plan to pay off debts or fund a major expense. If you do, you will not only affect your future, but you may lose a big chunk of money in taxes and fees. When you cash in your 401(k) early, a substantial portion of the funds are diverted to pay for income taxes as well as penalties for early withdrawal.
Consolidating Credit Card Debt into a Home Equity Loan
Combining your high-interest loans into a single low-interest home equity loan may seem like a wise move. But unless you also cancel your credit cards and stop overspending, this consolidation of debt may simply allow you to build even more debt. And if you fall behind in the payments on a home equity loan, you will lose your home.
A better approach is to cut back on your spending and use the money you save to pay off credit card debts. If you are having trouble meeting the payments on loans, call your creditors and explain how your financial situation has changed. Set up a payment plan that you can live with.
Payday Loans
Although payday loans may be easy to come by they usually also carry outrageously high interest rates. They will only put you deeper into debt so avoid them like the plague.
Discover Credit Cards in Cereal Boxes?
When I went to recycle an old box of Honey Nut Cheerios last night a small silver package fell out of the container. Now I’m sure my wife would have just thrown it away without opening it but I’m a sucker for free stuff (even if it’s a toy in a box of cereal) so I peeled open the plastic. I was certainly surprised to see what was what looked to be a Discover credit card!
I flipped the card over and read the back; turns out it’s a cash card, ours is loaded with $5. I went to the website listed on the back and typed in my card number and special code to activate it. According to the instructions, it can be used anywhere Discover is accepted. It says to have the cashier ring up the card as credit, not debit. Apparently one in 10 boxes of certain General Mills cereal has one of the “prizes inside” and the amounts range from $5, $10, $20, $25.
I’ve never gotten a credit card in a box of cereal before, I’m used to seeing cheapy little toys that end up getting stuck in the vaccuum cleaner, so this was a cool surprise. It’s only $5 but it’s enough to buy another two boxes of cereal : )
Have a good weekend, here are some money articles you might want to check out:
- Frugal Dad has some car maintenance tips
- Lazy Man’s wife shares a sad story about her parents
- Generation X takes a reader question about credit as an emergency fund
- The Digerati Life looks at a sane way to plan a wedding
- Million Dollar Journey has some tips on simplifying budgeting
- Brip Blap ponders financial behavior
- Suns Financial Diary takes a look at credit reports
- My Dollar Plan says goodbye to Microsoft Money
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I'm Ben Edwards and I've been addicted to personal finance since I was 12 years old.
That passion for money has paid off for my family - so in 2006 I founded Money Smart Life to help you afford the life that you want. Read My Story...
