Archive for Save Money

This Could Save You 50% or More on Parking…

By Kembala Evans on February 25, 2013

Car GarageTired of paying too much to park? Keep reading this and you’ll find out how I saved over 50% parking in Chicago. And Chicago has the nation’s highest parking metered rates. Metered parking downtown can cost as much as $6.50 an hour. Ouch.

It’s ridiculous! With rates like this, you’d have to shell out 52 quarters to park for a few hours. That’s an awful lot of change to be lugging around to pay a parking meter. This is probably causing people to get parking outrage. No wonder they gladly accept credit cards.

Parking is just too expensive.

That’s why I try to avoid parking downtown. Nothing beats commuting by train into the city. But unfortunately, it’s not always convenient.

The other day I decided to drive downtown. But I refused to pay those high parking rates. Thinking back to #2 in my “7 Surefire Tips to Save on Parking” post.

So I had to find a way to save on parking. That’s when I came across this incredible website with unbelievable parking rates. (more…)

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Categories: Save Money

Are You Being Robbed Right Before Your Eyes?

By Kembala Evans on August 28, 2012

No one wants to get robbed. But it could happen to you anytime and any place.  And the scariest thing about it is—you may not even know it.

Who said you had to be robbed at gunpoint? They don’t have to have a ski mask on to rob you. Or even the intent to do it.

You could have been robbed last night, this morning or even this afternoon.

It almost happened to me at the bank. I went to the bank to make a $507 cash deposit. Before I left I must have counted my money at least three times.

To avoid any problems, I went into the bank to make the deposit. I handed over the cash and deposit slip to the teller. After a couple of minutes, the teller said I was short almost $100.

This couldn’t be happening. After all, the reason why I came in was to avoid any issues. (more…)

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Categories: Money Management, Save Money

7 Ways to Save on Hotels and Rental Cars

By Kembala Evans on July 24, 2012

This view sure beats the parking lot.

August is just around the corner. And many of us are still planning our summer getaways and family vacations. Yep, we have the time off and the kids are out of school but _____________ (fill in the blank).

Planning a trip can be a challenge. Especially when you have little time to do it.

Just the other day my girlfriend told me she hasn’t planned anything for her family vacation. And it’s two weeks away. They’re going to Busch Gardens, so I shared some great money saving tips. And boy was she happy! ;-)

After all, nothing beats a great vacation for an unbelievable price. Everyone loves a good deal.

Now here are 7 ways to save on hotel stays and car rentals:

  1. Click Around and Save– To find the best deal, you’ve gotta shop around. Use the Internet to save time and money. Start with the travel websites (e.g. Kayak.com, TripAdvisor.com, Priceline.com) and compare their prices to the company’s (hotel/rental car) website. You might be surprised by who is the lowest.
  2. Use Travel Points – How does FREE sound to you? Well, check your rewards programs to see if you have enough points to stay or rent for free or less.
  3. Don’t Forget Your Discount – Sometimes we book travel without thinking about discounts we already have. For example, you may qualify for school, employer, wholesale club (e.g. Costco), motor club (e.g. AAA), credit card and other organizations (AARP) discounts.
  4. Last Minute Travel Deals – Look for last minute travel deals online. Believe it or not, they’re out there. And they can save you big money. The only catch is that you normally have to enter the special promotion code/coupon code to get them. That’s easy! (more…)
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Categories: Save Money, Travel

Refinancing? Mortgage Rates Hit Record Lows Again

By Kembala Evans on July 16, 2012

Last week mortgage rates hit record lows again. The average rate on a 30-year mortgage fell to 3.56%.  That’s the lowest rate on record.

And some mortgage experts predict they could go even lower.

If you’re in the market for a new home, you have the best of both worlds – low home prices, low mortgage rates.

As for existing homeowners, refinancing could save you money. Of course, you’ll have to run the numbers first. Here are a few tips for those considering refinancing your mortgage:

  • Use a mortgage calculator to run the numbers. These calculators take into account all of the costs and other considerations (how long you’ll live in the home?).
  • Closing costs. Keep in mind your lender may be able to reduce closing costs when you take a slightly higher rate.
  • Are you underwater on your mortgage? If you owe more than your home is worth, you could qualify to refinance through making home affordable. For more information, check out the Home Affordable Refinance Program (HARP).

Refinancing? Some other useful articles:

When Does Mortgage Refinancing Really Pay?

Tempted by Record Low Mortgage Rates? Do Your Homework First

Why Aren’t More People Refinancing Their Mortgages?

Photo: The-Lane-Team

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Categories: Mortgage, Save Money

Don’t Get Ripped Off: Beware of No Change Given Machines

By Kembala Evans on March 28, 2012

Money Wasted in MachinesThe other morning when I was running late to catch the train, I quickly stuck two dollars in the parking fare machine. After waiting a few seconds for my change, I decided to take a closer look at the machine. Then I found the words “No Change Given.”

I couldn’t believe I paid $2.00 for $1.25 parking. The machine owner gained an additional 60% in profit from me. As the consumer, I felt ripped off simply because I didn’t see “No Change Given.”

I thought you might be interested in the parking department’s explanation, so I decided to give them a call. When I asked why they didn’t give change, the finance department said, “You don’t get your money back because the machine says “no change given.” We keep it! The positive way to look at it is that at least you didn’t have to spend $30 on a parking ticket.”

No surprises here. It was exactly what I expected to hear. Nevermind the fact that you have to take your time reading the machine to find out “no change is given.”

Then just last week when I was on vacation I noticed a large 8 ½” x 11” sign posted on a locker rental machine. What do you think it was for? It read in big bold print  “This machine does NOT give change.” Now it was good to see this message plastered on the machine big enough for anyone to see before using it.

I’m sure they must have received some complaints to create such a special sign. The machine took $20 bills and you could rent a locker for as little as $6.  If you weren’t paying attention and put in $20 for a $6 locker, you’d lose $14. That means you would have paid over 230% more for nothing! (more…)

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Categories: Money Management, Save Money

Money Saving Tip: Bigger is Not Always Cheaper

By Kembala Evans on February 22, 2012

Smart shopping saves you money. And who wouldn’t want to save money when it seems like the cost of everything keeps going up. Some people believe the best way to save money is to grab the biggest size, family size or big ‘un for the lowest price.

But when you look a little closer you may be surprised to see you’re actually paying more money for the bigger size. Believe it or not, it’s true sometimes the smaller size is cheaper.

Just the other day I noticed a woman at the grocery store trying to decide what size of cheese to buy. They were both the same brand and on sale. The 16 oz. bag of cheddar cheese was $1.88 and the larger 32 oz. bag was $4.49. After a few moments she made her decision and grabbed the bigger bag.

Before she walked away, I stopped and asked her if she noticed the 16 oz. bag was only $1.88. She told me that she did, but decided to go with the larger bag. I then explained that if she bought two 16 oz. bags at the lower price, she would be paying less than $2 for each bag. That’s the same amount of cheese for less than $4 ($3.76 to be exact). She thanked me and put the larger bag back and got two of the smaller bags instead.

Save on Groceries and More...

What’s a shopper to do to make sure you’re paying the lowest price? Well, some stores are nice enough to put the cost measurement below the item. So you can easily see if the bigger size is really the better value. For example, those chips may cost .027/oz. for the smaller size and .020/oz. for the larger size. Depending on your needs and the expiration date clearly the cheaper price per ounce is the bigger bag of chips.

Be careful if you decide to use the store’s calculation because sometimes the manufacturer will give you 20% more free and the store calculation may not take the additional amount free into account.

Is the biggest box the real deal? Show me the calculation…

(more…)

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Categories: Save Money

Airfares: Don’t Let the Low Price Fool You, New Rules Help…

By Kembala Evans on January 31, 2012

Last month my best friend flew to Chicago to attend my book launch party ­for “Get Your Money Right .” After shopping around for her ticket, I have to say—don’t let the low price fool you.

Especially when it comes to Spirit Airlines. On the surface it looks like you’re getting a real bargain. But once you start adding in the extra fees, you may be shocked to find out how much your trip really costs. I’m not talking about the standard fees like for security, facility and taxes either.

With Spirit Airlines she paid $16.99 just to buy her ticket online. They call it a “passenger usage fee” and you pay it each way. So it costs you about $34 roundtrip. Who buys tickets at the airport these days? The airfares are probably higher in person anyway.

Then she had to pay another $30 to carry on her luggage. Yes, you read that right. Spirit charges you for bringing on carry on bags. And there was no way around it because she needed clothes for the weekend. At least she saved $5 for paying in advance.

That’s close to $50 in extra charges on a one-way ticket. After using her $25 coupon code, Spirit was still the cheapest option for a one-way ticket. When shopping around, I encourage you to take into account any additional fees to find the best deal. For example, a round trip ticket on Spirit Airlines purchased online with carry on luggage both ways could cost you an additional $94.

The good news is that the government has made it easier to compare ticket prices across airlines. Starting on January 26th, all airlines are now required to provide full fare advertising including taxes and mandatory fees (so you still have to check optional fees).

According to the Department of Transportation press release – January 23, 2012:

Also beginning this week, passengers will be able to hold a reservation without payment, or cancel a booking without penalty, for 24 hours after the reservation is made, if they make the reservation one week or more prior to a flight’s departure date.  In addition, airlines will be required to promptly notify passengers of flight delays of over 30 minutes, as well as flight cancellations and diversions, and they will generally be prohibited from increasing the price of passengers’ ticket after it is bought.

The new rules also will make it easier for passengers to determine the full price they will have to pay for air transportation prior to travel.  (more…)

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Categories: News, Save Money, Travel

Not So Fast! My Warranty’s Not Up…

By Kembala Evans on January 24, 2012

At first glance, the mailer reads in big bold letters: “REQUEST FOR IMMEDIATE ACTION – TIME SENSITIVE MATERIAL ENCLOSED.” Then to peek your interest, the words “TO BE OPENED BY ADDRESSEE ONLY PLEASE RESPOND WITHIN FIVE DAYS.”

So I open it, just to find out what this sender is really up to. The message inside tells me that my car warranty is expiring and they can help. But of course, I must act now. Let’s see they have the right owner, car make and year too. Guess they have a little bit of credibility?

The solution to my problem seems to be just a call away. They give me their toll free number to extend my vehicle’s coverage. But as Lee Corso says, “Not so fast.” After all, my car warranty isn’t expiring for another year.

But the mailer clearly says it’s “URGENT AND TIME SENSITIVE.” Surely, this mailer is going right into the recycle bin. Pronto!

However, I must say knowing the specifics about your warranty can really save you money. For starters you won’t fall into warranty extension gimmicks. Now if you really need the additional coverage, I encourage you to make sure it’s a reputable company and confirm the coverage is worth paying for (what does it cover? how much does it cost?).

Warranty protection could definitely be a good thing! And it gets even better when retailers (i.e. Costco) or credit card companies automatically extend the manufacturer’s warranty on some purchases. (more…)

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Categories: Save Money

Real Talk: How to Avoid Paying High Credit Card Interest

By Kembala Evans on November 14, 2011

If you’re a credit card holder, then you probably already know about—high credit card interest rates. Sure, credit cards can be great for their convenience, ease of use, and the line of credit. But you have to use them wisely or they could cost you big time in interest (default rates can be as high as in the 30% range) and fees. The other day I had a conversation with someone that spawned this post.

If you were a fly on the wall, the conversation went a little like this:

Question: Do you know how I can use my credit card without paying any interest on my purchases? I don’t want to pay any high credit card interest! I know it’s good to have a credit card. I enjoy getting the benefits from my purchases like cash back. Right now, I use my credit card to make online and larger purchases (e.g. car maintenance). I immediately pay my credit card after I make the purchase to avoid paying any interest.

My response: You’re absolutely right, credit cards give you some nice benefits (e.g. purchase protection, travel perks, and insurance). But if you’re not careful the costs (fees, high interest rates) could outweigh the benefits.

That’s great when you make it a habit to pay your purchases off and avoid paying any credit card interest. However, you usually don’t have to pay your purchases off immediately to avoid paying any interest. Another way you could avoid paying high credit card interest on your purchases is to pay your bill in full by the due date.

Credit cards normally offer you something called a “grace period” to avoid any interest charges on new purchases. And if you pay your balance in full by the due date (within the grace period), you don’t have to pay any interest. Be sure to check your credit card terms or call the number on the back of your card to find out how your credit card works first. If your credit card has a grace period, then you can avoid paying any interest when you pay your balance in full by the due date. Plus, this way of paying saves you time, since you won’t have to pay your credit card every time you make a purchase.

To find out how your credit card works – You may want to call and ask the credit card company, “How does the grace period work for new purchases on my account?” I called some credit card companies to specifically ask this question and here’s what I was told: (more…)

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Categories: Credit Cards, Save Money
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