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الخميس، 31 أغسطس 2017

Wells Fargo Finds Another 1.4M Fake Accounts, Will Refund Another $2.8M

Update: This post has been updated to reflect the latest findings in Wells Fargo’s review of fraudulent accounts, including up to an additional 1.4 million fake accounts.

Wells Fargo got in hot water last year for secretly opening millions of unauthorized bank and credit card accounts without its customers’ knowledge.

If you were one of those customers, you’re in line to get some money.

Wells Fargo agreed to a $142 million settlement in a class-action lawsuit in April.

The money will reimburse customers for “out-of-pocket losses, such as fees incurred due to unauthorized account openings,” according to Wells Fargo’s news release.

In addition to the repayment of fees, the settlement will include “millions of dollars of additional monetary relief,” according to a lawyer in the case.

Who Gets Paid?

The settlement covers anyone who had a Wells Fargo account opened without their consent from Jan. 1, 2009, through whatever date the courts officially execute the settlement.

In August 2017, an additional review that went back to January 2009 found an additional 1.4 million potentially fake bank and credit card accounts, CNN reported. Around 190,000 of those accounts faced unnecessary fees, according to Wells Fargo, which will result in an additional $2.8 million in fee refunds to customers.

These refunds are on top of the $3.3 million in fee refunds Wells Fargo has already paid customers for 130,000 unauthorized accounts. Wells Fargo told CNN that most customers who already got a remediation check are still eligible to take part in the $142 million settlement.

The March 2017 settlement has been approved, but it may take until early 2018 before affected customers are notified.  

Wells Fargo’s Very Bad Year

The deal follows a rough 2016 for Wells Fargo.

Its CEO resigned due to the scandal. The bank got slapped with a $185 million fine for the unauthorized accounts. And by the end of the year, it acknowledged that business was suffering, with noticeably fewer new customers opening accounts.

For its part, Wells Fargo says it has changed its ways. Among other steps, it fired 5,300 employees and overhauled the employee compensation plan that fueled the opening of unauthorized accounts.

Mike Brassfield (mike@thepennyhoarder.com) is a senior writer at The Penny Hoarder. The name “Wells Fargo” always makes him think of stagecoaches.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.



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Hurricane Harvey impacts gas prices in the Poconos

EAST STROUDSBURG — Gas prices in the Poconos were on the rise Thursday, some up 20 cents from the night before. Drivers paid as much as $2.79 a gallon for regular gas in Monroe County.That upward trend is likely to continue. Hurricane Harvey put some of the nation’s largest oil refineries out of commission after it made landfall in Texas Friday night.“The hurricane affected 25 percent of the production of petroleum,” said Aly Khadr, owner of [...]

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Southwest Cards Get Huge Signup Bonus Increase

Earlier this month, Chase announced an impressive signup bonus increase for the . New cardholders can now earn 60,000 points if they spend $2,000 within the first three months. That’s a 20,000 point increase, and it’s a great upgrade to a card we’ve already called our top airline card, with a great signup bonus!

Be sure to act quickly: Even though Southwest hasn’t set an end date yet, this is a limited-time offer. And if you’re looking to put those extra points towards something really special, it’s better to start saving sooner, rather than later.

Card highlights

There’s a lot of similarities between Chase’s Southwest cards: Each has a base rate of 2X points per dollar on Southwest and Rapid Rewards® Hotel and Car Rental Partner purchases, and 1X points per dollar on all other purchases. Additionally:

  • Points don’t expire as long as your card is open.
  • No blackout dates or seat restrictions when you redeem points for flights.
  • First and second checked bags fly free.
  • No change fees. (Fare differences may apply.)

But when it comes to points and fees, there are some differences. Here’s a quick guide:

Southwest card comparison

Card Signup bonus Signup bonus requirements Anniversary points Annual fee Foreign transaction fees?
60,000 points $2,000 in first three months 3,000 points $69 Yes: 3% of each transaction in U.S. dollars
Southwest Rapid Rewards® Premier Credit Card 60,000 points $2,000 in first three months 6,000 points $99 No
Southwest Rapid Rewards® Premier Business Credit Card 60,000 points $3,000 in first 3 months 6,000 points $99 No

Already applied?

If you’ve already applied for a Rapid Rewards® Credit Card within 90 days of the offer, and you’ve missed out on the signup bonus, don’t worry: Chase will match the higher offer on both personal and business cards. (To be eligible for matching, the offer must be a public, as opposed to an offer targeting a specific individual.)

Bonus benefit: Southwest Companion Pass

The Companion Pass is a major incentive for making Southwest your airline of choice. This members-only perk lets you designate one person to fly with you for 100% free for the following full calendar year, plus the remainder of the year in which you earned it. Earn a companion pass early enough in the year, and that’s two years’ worth of free flights for your chosen companion.

Here’s what you’ll need to qualify:

  • 110,000 qualifying points in a calendar year.
  • 100 qualifying one-way flights.

(Note: you don’t have to own a Southwest credit card to earn a Companion Pass; any Rapid Rewards member who meets the criteria above can earn one.)

If you’re ready to earn free travel, apply now with the Southwest Rapid Rewards® Plus Credit Card to earn your 60,000-point signup bonus — and start earning points on every purchase.

The post Southwest Cards Get Huge Signup Bonus Increase appeared first on The Simple Dollar.



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Key to Tax Reform: 'Keep It Simple Stupid'

One of the most enduring lessons from the ObamaCare fiasco is that to win a political battle it is best to keep the message simple. If there are too many moving parts to a plan, if Americans don't understand what the politicians are doing, or if there are parts of a bill they don't like, it probably will go down in flames.    

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Spend $100 at IKEA This Weekend, Feed Your Entire Extended Family for Free

If you’re finally ready to fill that empty corner of your living room with cool chairs for guests or find a new bookshelf or two for your bedroom, now might be a good time to head to IKEA.

The furniture megastore known for its inexpensive, build-it-yourself homewares wants to feed your whole family.

Here’s the deal: If you go to IKEA between Sept. 2-4, and spend $100 or more before tax, the store will cover the cost of your meal.

Here’s How the IKEA Restaurant Deal Works

To redeem this offer, you’ll need to make sure you’re an IKEA Family member. If not, you’ll want to sign up before heading to the store.

When you get to the store, start your visit in the IKEA restaurant. Yes, you have to buy your family’s food first, but the cashier will give you a coupon that’s your ticket to a refund.

You have to buy your furniture on the same day you eat, so when you’re full, it’s time to go shopping. Whether you shop for new furniture or hit up the as-is section for deals, make sure you spend $100 or more before tax — no, you can’t count gift card purchases toward your total.

At checkout, present your IKEA Family card, the coupon and the receipt for your family’s meal. The cashier will deduct the meal’s cost from the total furniture purchase.

Bon appetit.

Desiree Stennett (@desi_stennett) is a staff writer at The Penny Hoarder. She keeps it classic when she eats at IKEA with the Swedish meatballs with mashed potatoes and lingonberry sauce.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.



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FEMA Is Hiring Reps to Help Hurricane Harvey’s Victims. Here’s How to Apply

If you’ve got customer service experience and want to put your skills to work helping victims of Hurricane Harvey, take a look at this opportunity to work with the Federal Emergency Management Agency’s disaster relief efforts.

FEMA is hiring temporary full-time customer representatives across the country. The jobs are scheduled to last 120 days with a possibility of extension, and the pay range is $15 to $19 per hour, depending on location.

If these customer representative jobs aren’t right for you, check out our Jobs page on Facebook. We post new opportunities there all the time.

FEMA Customer Representative

Customer representatives work in call centers as FEMA’s point of contact for people with questions about disaster relief assistance or need help filing claim requests.

Jobs are available in these six locations:

The application deadline for the jobs in Hyattsville, Pasadena and Winchester is Sept. 25, 2017. The deadline for Baton Rouge, Carson City and Raleigh is Sept. 30, 2017.

This job’s responsibilities include:

  • Provide information about disaster assistance to people over the phone and in person
  • Verify applicant eligibility for disaster assistance
  • Provide information and explanations of Housing Assistance, Other Needs Assistance Grant and other programs
  • Process applicant cases, re-certifications, audits and recoups and lodging reimbursement

To be eligible for this job, you need to meet the following requirements:

  • U.S. citizenship
  • Pass a background check
  • Selective Service registration is required for males born after Dec. 31, 1959
  • Paid or unpaid professional customer service experience
  • Excellent phone skills
  • Basic computer skills and working knowledge of Microsoft Office
  • Fluency in communicating, comprehending, and translating Spanish and English is preferred

Follow these steps to apply for the Customer Representative job.

  1. Click the link above to your preferred location
  1. Create a free account with USAJOBS if you don’t already have one
  1. Provide some basic contact and eligibility information
  1. Submit a resume using USAJOB’s resume builder to access FEMA’s job listing
  1. Create a free account with FEMA
  1. Answer a series of eligibility, job experience and demographic questions  
  1. Review and submit application

FEMA expects to make job offers within 30 days of the application deadline. You can check the status of your application at any time in the Dashboard section of your FEMA account.

If being away from home for several weeks doesn’t work for you, there are other ways you can help with Hurricane Harvey relief. Just be sure to watch out for scammers.

The Real Story About FEMA Field Representative Rumors

You may have noticed reports on Facebook and other social media sites that FEMA is hiring field representatives at a high rate of pay to help deal with the aftermath of Hurricane Harvey.

While it’s true that FEMA is hiring home inspectors, the jobs aren’t new and don’t necessarily pay thousands of dollars per week as Facebook rumors would have you believe.

According to a page on FEMA’s website dated January, 2016, “Currently, FEMA contracts with two companies for their home inspections. These job opportunities must be pursued through these individual contractors. They are Vanguard EM and PB Disaster Services.”

Vangaurd EM and PB Disaster Services (now known as WSP USA Inspection Services) are hiring independent contractors to complete disaster housing inspections.

Vanguard EM pays between $35 and $45 per inspection. WSP USA pays an “apprentice rate” or “inspector rate,” depending on experience.

To see if you qualify to be a Disaster Housing Inspector visit the information portals at Vanguard EM and WSP USA.

Lisa McGreevy is a staff writer at The Penny Hoarder. She loves telling readers about new job opportunities, so look her up on Twitter @lisah if you’ve got a tip to share.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.



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Here’s What Millennials Spent the Most on in 2016 (It’s Not Avocado Toast)

Last year, those dang millennials spent about $500 each on avocado toast. That’s more than a dollar a day!

Well, maybe.

Technically, they — ahem, we — spent $209 on fresh vegetables and $287 on bakery goods, according to the latest consumer expenditure report from the U.S. Bureau of Labor Statistics.

But with all the fuss over twenty- and thirtysomethings’ spending habits, we can only assume 99.9% of the purchases in those categories went toward multi-grain toast and Whole Foods avocados.

Even if it was, that’s only 1% of what we spent last year.

Sweeping generalizations aside, for the first time in its history, the BLS included a generational breakdown for this annual data. It gives an interesting new insight into how the seemingly misunderstood and maligned generation spends its money.

Millennials vs Baby Boomers: Here’s How They Spent in 2016

For one, millennials made about 84 cents for every dollar a boomer earned last year. Not too surprising given more experience means higher wages.

But millennials were on average way thriftier than our older counterparts. We spent $2,835.36 less than baby boomers, and that’s even when we control for their higher incomes.

Part of that probably comes from how millennials seemed a bit, shall we say, stingier when it comes to celebrating birthdays, anniversaries or other accomplishments of our friends and family. Generation Y spent $541 on gifts on average last year, compared to the $1,401.96 boomers forked over.

However, millennials might just be more DIY-focused.

We also seem to be really thrifty when it comes to real estate. The average value of a millennials’ home was $71,791 in 2016, which is less than half of the $181,256.04 for boomers.

Don’t blame us for being careful with our money: Millennials took on more than double the amount of liabilities — basically, debt — than boomers, adding $10,849 on average.

Still, millennials did find time to have some fun. Their generation on average spent $342 more to eat out than baby boomers and $25.88 more on booze.

Regardless of restaurant spending, both groups should know there are plenty of ways to save if you want to splurge on that Carrabba’s meal.

But overall, there aren’t many huge differences in inter-generational spending that aren’t a result of age (that would be, for example, drugs and healthcare spending). I mean, we spent nearly the same amount — about $50 — on eggs, and only had a $6.58 difference in spending on milk and cheese.

Maybe digging deeper into millennial spending will help some of the aforementioned millionaires better understand us.

So How Did Millennials Actually Spend Their Cash in 2016?

Millennials spent about $48,600 on average last year, on everything from $1 on a major appliance given as a gift (maybe this is a “Seinfeld” situation where a bunch of Gen Y-ers pooled together money to buy someone a fridge… or something) to $2,473 on healthcare, a much more sensible purchase.

They spent the most on housing, averaging $16,900 on rent, a mortgage or other accommodation that accounts for 35% of overall spending.

The generation of dog and cat memes spent about $435 on their pets last year. If that still seems like a big chunk of change, there are a few pet rewards programs that can bring down your bottom line.

As far as human food, millennials spent 47% of their total food budget at restaurant or fast food joints. That’s a pretty big — and troubling — ratio for a generation saddled with student debt, since you can save hundreds by prepping your meals at home instead of ordering that expensive takeout Chinese food.

Despite worries about growing auto loan delinquencies, the average member of Generation Y spent more than $3,700 toward buying a vehicle in 2016. Some good news: About 60% of that spending went toward used cars. Great move, millennials!

So for millennials and baby boomers alike, now that the BLS is watching what you spend, try not to make your generation look bad, okay?

That goes for Generation X, too. Yeah, we see you in the corner over there.

Alex Mahadevan is a data journalist at The Penny Hoarder. He may be a millennial, but he prefers peanut butter toast to avocado.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.



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How to Buy Luxurious Bed Sheets — Without Losing Sleep Over the Price Tag

الأربعاء، 30 أغسطس 2017

4 Ways to Avoid Paying Interest on Credit Card Debt

It’s official – Americans owe a ton of money in credit card debt. Actually, it’s more than a ton: it’s $1 trillion, which is even more than the previous high set in April 2008 just before the Great Recession, according to Federal Reserve data.

On top of this debt, the average credit card interest rate is also at an all-time high at slightly more than 16%. That means if everyone carried their balances from month-to-month and paid interest, we’d be collectively paying $160,000,000,000 in interest, on average, on our credit card debt. Yes, $160 billion – more than the 2016 estimated GDP of Qatar!

Not everyone is a “revolver” (someone who carries a balance from month-to-month instead of paying their balance off in full). However, about 43% of us are revolvers, meaning we’re each paying, on average, an extra $855 a year in interest charges.

That adds up to a lot of money paid in interest.

Now, before you let these figures set in and crush your soul, know that it’s possible to avoid paying interest or to pay significantly less, even if you carry a balance from month to month.

Four ways to avoid or reduce interest

Option #1: Consider a balance transfer.

If you’re paying a high interest rate on a large balance or multiple balances, you might want to consider a balance transfer. Many balance transfer credit cards offer extended 0% intro APR on transferred balances, giving you time to pay off any outstanding debts interest-free!

We recommend

The includes 18 months of 0% intro APR on balance transfers! You’ll also enjoy no annual fee and a robust rewards program.

Option #2: Sign up for a card with introductory 0% APR.

Know that you’ll need to make several large purchases in the coming months? Sign up for a card with extended 0% introductory APR on all new purchases. Many cash back credit cards offer a year or more of 0% intro APR, allowing you to avoid paying interest while you pay off your purchases.

We recommend

The gives cardholders 15 months of 0% introductory APR on both purchases and balance transfers. The card also features no annual fee and unlimited 1.5% cash back on every purchase.

Option #3: Take advantage of your affiliations.

If you qualify to become a member of a credit union, you may be able to benefit from competitive rates and terms as well as reduced fees. Membership in a credit union is typically based on a common bond, such as your employer, geographic location, homeowners’ association, place of worship, and more. See if credit unions you qualify for promote attractive interest rates on credit cards or loans.

We recommend

If you’re a member of the military, the suite of USAA credit cards boast low APR starting at 7.90%. Need to build credit? The offers low APR rates starting at 10.90% with extra-low 4% APR during deployment or PCS.

Option #4: Explore student-specific cards.

If you’re a student, you probably haven’t had many opportunities to build credit yet, and therefore are probably facing higher-than-average interest rates. The best student credit cards offer APR as low as 13.99%, which can allow you to save a few bucks on interest while building credit.

We recommend

The offers 0% introductory APR on purchases for the first six months, then standard APR starting at 13.99% after that. Use those six months to establish good credit habits while avoiding interest!

Bonus option: Pay your balance off in full and on time each month!

You can always avoid paying interest by paying your balance off in full and on time each month, no matter what card you have in your wallet.

While 43% of us may pay interest each month due to revolving debt, it is possible to avoid paying interest altogether. Any one of the options listed above can help you build positive credit and establish good financial habits.

Other tips

  • Sign up for payment reminders, set a calendar alert, or use a financial monitoring software or app that notifies you when payments are due.
  • Break your payments up into smaller chunks. If you’re only paying once a month, you may fall into the habit of “out of sight, out of mind.” Instead, try making payments every paycheck or once a week.
  • Treat your credit card as a debit card, and only charge what you can afford to pay off. If you can only spend $200 in a given month, then only charge $200. This way, you won’t carry over debt you can’t afford.
  • It’s worth repeating once again: Pay your balance off in full and on time each month. Not only is this essential to avoiding interest payments, it’s also vital to building a healthy credit score.

The post 4 Ways to Avoid Paying Interest on Credit Card Debt appeared first on The Simple Dollar.



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These are the Luxuries We Won’t Give Up (And How to Save Money on Them)

From Braces to Razors, Here’s How to Save Money on Stuff Your Body Needs

7 Personal Finance Lessons I Wish Everyone Learned in High School

We Love the Thoughtful Gift This Guy Made for His Girlfriend With Anxiety

A Reddit user’s girlfriend struggles with depression and anxiety. He wanted to do something uplifting for her, so he pulled out some craft supplies and got to work.

Bovadeez spent a few hours color-coding popsicle sticks with magic markers and hand-lettering sweet messages that his girlfriend can read when she’s stressed out or anxious.

Orange sticks display inspirational quotes, yellow ones have positive messages and purple ones have relaxing messages. The gift also includes some blank sticks and a Sharpie pen so his girlfriend can write down happy moments she wants to remember.

Bovadeez piled the pen and collection of sticks into an empty jar, along with a note explaining how to use the gift. “I know she can hear me say things but something like this… well… it’s what words can’t say that get through to her,” bovadeez commented on Reddit.

“She’s very special to me, he says. ‘[The] least I can do is try to help.”

Several Redditors say they’re charmed by the idea and plan to make something similar for someone in their life.

It’s a helpless feeling to watch someone you care about struggle with anxiety and depression.

“Most of us know someone who is living with them,” notes positivity website A Plus. “Let’s do what we can to show them we care. A little DIY project can go a long way.”

Mental health issues can affect anyone, at any age. If you or someone you know needs help, these nine affordable mental health treatment resources are a great place to start.

Lisa McGreevy is a staff writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.



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Burger King Wants You to Endanger Your Career Prospects for a Free Whopper

Hi, good afternoon, here is a potentially terrible idea.

Burger King is giving out free flame-grilled Whopper sandwiches. Hooray, free food! But to get one, you have to tell your online professional network you got fired.

Pretty bold. And you can’t just do it on the sly. The post has to be public to score the freebie.

You only have until Friday, Sept. 1, to participate, so if you really like free sandwiches and don’t really care about your dignity, keep reading.

How This Self-Deprecating Freebie Works

It’s simple. (Actually, it’s really complicated, so hold on for this ride.)

The first step is to visit LinkedIn and post this message: “I got fired. I want a free Whopper. #WhopperSeverance.” Or, you can log in to LinkedIn at WhopperSeverance.com and have the company post it for you.

“That’s right: own your fire!” BK’s press release instructs.  

Do it and you’ll get a personalized link (from The King himself on LinkedIn) to register for a Whopper-branded severance package by mail. Like, the actual mail. It comes with an official-looking “termination” letter and a $5 Burger King gift card so you can get that free Whopper.

LinkedIn is in no way involved in this promotion.

The offer expires on Friday, and only the first 2,500 people to post and follow the instructions will get their kits in the mail. The first 100 participants from that group of… are they really winners? will receive “30-minute one-on-one Q+A sessions” courtesy of career experts at The Muse.

This Is Either Funny or Embarrassing

Everyone likes to get something for free, but this campaign is a bit tone-deaf.

It asks you to take to your LinkedIn account — arguably the most buttoned-up of all the social media platforms — and declare you got fired at one time or another. You’re logging on to the one network we use for job hunting and telling everyone you were terminated from a job.

That seems like not the best idea.

There’s even a part of the press release where Burger King touts its role as a job creator.

Some people have used the campaign to their advantage. A few posts on LinkedIn declare the firing, then clarify in a comment, “I got fired from my grocery bagger job in 1968,” or something that would have little bearing on their career today.

Dan Jordan, a freelance writer based in Brooklyn, N.Y., put his own spin on the directions by posting, “I fired myself from Freelance just to get a free Whopper. #WhopperSeverance.” When “The King” responded with his personalized link, Jordan responded in thanks with the comment “FreeWhopper > Freelance.”

Maybe Burger King is trying to remove the stigma of being terminated from a job. But owning that challenge and bouncing back from a termination isn’t a laughing matter for many.

I’d rather pay a few bucks for the sandwich than try to explain to my LinkedIn network why I felt compelled to participate in this campaign.

Lisa Rowan is a writer and producer at The Penny Hoarder.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.



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Amazon Music Unlimited Caters to Broke College Students With $5/Month Offer

Amazon has joined the fray and is now offering a discounted music streaming option for broke college students.

Amazon Music Unlimited, which is a separate subscription from Amazon Prime and offers “tens of millions” of songs compared to the 2 million Prime Music offers, will cost students $4.99 a month.

If you’re not a student, the service runs for $9.99 per month. Prime members do get a small discount, bringing their monthly fee to $7.99 per month.

To qualify for the special pricing, you’ll need to prove you’re enrolled in a degree-granting college or university in the United States or the United Kingdom.

Amazon Music Unlimited Is Late to the Student Discount Game

Amazon Music Unlimited’s competitors are ahead of the curve when it comes to offering students discounted streaming services. They have also set the tone for pricing, so Amazon’s monthly fee should not be a surprise.

Spotify, Apple Music and TIDAL all offer students discounted services for $4.99.

Apple Music offers three free months of service for new users, while Amazon, TIDAL and Spotify each offer one free month.

Got Amazon Prime? Get Music Unlimited for $1 a Month

For a limited time, Amazon offers an additional discount for Prime users who are also students. You will have to give up your free month of service, but you’ll get the first six months of Amazon Music Unlimited for $6.

This deal saves you $18.95 over the six-month period, including your one free month, making it a far better option. Of course, this assumes you’ve already paid for your $49 discounted Amazon Prime subscription.

If you don’t already have Amazon Prime, and the fast shipping and slew of other features can’t convince you to subscribe, save your $49 and stick with the free month.

Desiree Stennett (@desi_stennett) is a staff writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.



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Want to Save Money in Your Golden Years? Have Some Kids, This Study Says

We’re always hearing about how kids are so darn expensive.

From hospital delivery fees to college tuition and everything in between, the costs can really add up.

But here’s one area where having kids may help you save: nursing home costs.

A new study shows having children significantly lowers the out-of-pocket costs for nursing home care, Bloomberg reports.

The Long-Term Financial Impact of Having Kids

When it comes to saving to cover future costs of nursing home care, the study estimates a 57-year-old without children should have about $8,900 set aside.

On the other hand, if that parent has up to three children, they should have about $6,400 saved, while a parent with four or more kids would only need to have about $5,500 saved, according to the research.

“Having children doesn’t affect the odds of having a nursing home stay,” Bloomberg reports, “but kids tend to delay the entry of a parent into a nursing home or help a parent transition out of one faster.”

The study indicates childless older Americans will spend an average of 279 days in a nursing home over their lifetime, while parents of one to three children will spend an average of 233 days. Parents with four or more offspring will spend only 206 days in nursing home care on average.

Who’s Got Your Back?

The study also showed having daughters over sons makes a difference. The research indicates a 57-year-old with daughters should have $6,100 saved for future out-of-pocket nursing home costs, while a 57-year-old without daughters should set aside $6,700.

In addition, the study showed men spend less money on nursing home care on average — and also less time in nursing facilities — than women do. That’s because they have their wives to take care of them.

Talk about girl power.

Nicole Dow is a staff writer at The Penny Hoarder. She wants to have about four kids.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.



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How to Get Over Feeling Envious of Other People’s Money and Success

It happens to most of us at some time or another.

A neighbor will buy something extravagant, like a gorgeous new car, and you look at your older car in the driveway and feel some envy.

A relative will get a great job and make more money in a year than you ever have. You’ll overhear talk of that person’s salary, think about your own salary, and feel some envy.

You’ll visit an old friend who has a huge, nice house with plenty of room for their family and some really beautiful decorations. You’ll go back to your own small home or apartment, look around, feel like it’s a dump, and feel some envy.

Envy. It’s an emotion that we all feel at some point.

It’s also a really dangerous emotion when we’re trying to build a strong financial life. After all, envy encourages us to make some pretty poor decisions.

Envy causes us to buy things to “keep up with the Joneses.”

Envy causes us to get in way over our head with a car loan or a mortgage or a furniture loan.

Envy causes us to start buying lots of luxury brands that we can’t really afford, draining money away from much more important things.

Envy is pure poison to a healthy financial life.

Like every other character flaw, however, envy can be overcome. You can directly reduce the envy itself, or you can at least reduce the bad choices you make as a result of envy.

Here are seven strategies I use to cut envy out of my own life.

Take time to focus on the good things you already have. Even if you don’t happen to have everything that other people have, that doesn’t mean that you don’t have an amazing life. Almost everyone’s life is full of a lot of amazing things if they take the time to consciously look for them.

Look for the “amazing” you already have in your life and feel grateful for it. Look at the people who love you. Look at the positive things you’ve achieved. Look even at the simple pleasures, like the warm feeling of a ray of sun on your skin. Your life is loaded with goodness, so make that the focus in your life.

ACTION: Take a few minutes each day to write down five things you’re grateful for. Do this in an ordinary notebook, and make it part of your daily routine.

Remember that no one has the “perfect” life and you’re often merely seeing a carefully prepared “public face.” It’s easy to get caught up in the idea that other people have a “perfect” life – or one that’s much closer to “perfect” than your own.

However, one needs to always remember that when we see people in public, they’ve often got their public face on. They’re trying to show themselves at their best, most of the time.

When we see people on social media, they’re almost always showing their best. They want to show the greatness of their life, not the flaws.

Don’t judge your own life by comparing your whole to only the positive facets of the lives of others. You’ll almost never win that comparison, and it’s a false comparison to boot, so just don’t bother with it.

If you must compare yourself, remain mindful of what’s not seen in their public appearances and their social media profiles. What’s just outside of the camera lens? What’s

ACTION: Reflect on the sacrifices that person had to make in order to have that thing you’re envious of. How many years of study did it take to get there, earning very little and suffering difficult situations? How much debt are they taking on to buy that thing? Is that really a tradeoff you want in your own life? Likely, when you step back and look at the sacrifices involved, it’s not just a big positive and it’s often not even a trade you’d want to make for yourself.

When someone else succeeds, celebrate it rather than be envious of it and remember that the world is an abundant place. Envy often is born from a view of the world in which every winner must be paired somehow with a “loser,” that for every person who gains, there must be a person who loses in return.

That’s a false view of the world. The world is an abundant place. Take love, for example; a loving relationship has no loser. Both people win. A productive professional relationship has no loser. A good friendship has no loser.

Thus, when a friend finds something good, you didn’t “lose” because of it. No one did. They merely had a good thing in their life, and that’s worth celebrating. It is good for everyone when a friend finds something good in their life.

When your friend sees success, be happy for them for their own merit. That success does not mean that you lost – it merely means that your friend won, and that’s something to truly be happy about!

ACTION: Whenever you notice a friend’s good fortune, don’t dwell on what you don’t have. Consciously choose to be joyous for what your friend has gained, and express that joy publicly in honest congratulations.

Cultivate relationships with people who publicly aspire to the values you aspire to. Look for people in your communities – online and off – that espouse the values that you aspire to and make it your goal to cultivate relationships with those people.

The reason is simple: the attributes of your friends rub off on you, and the closer the friend is, the more likely you are to pick up on those attributes in your own life. Thus, it makes a great deal of sense to surround yourself with people who are not envious of others, with people who instead are humble and genuinely happy for others.

ACTION: Identify an acquaintance that exhibits the virtues you desire, particularly virtues such as humility and reliability and trustworthiness. Cultivate a friendship with that person and try to emulate those good traits within that friendship. If you’re becoming friends with a humble, courteous person, be humble and courteous yourself.

Avoid people who publicly present values you don’t want in your life. The flip side of the above strategy is to slowly divest yourself of relationships with people who exhibit traits you don’t want in your life.

Avoid people who are envious and critical and negative in their attitudes toward others. Avoid those who try to show their value in terms of the things they own and have bought. Avoid those who brag of their personal and professional and financial successes.

ACTION: Look through your list of friends and identify those who often bring negative traits to the conversation and make a conscious effort to spend less time with them. Replace that time with more time spent with those who are more positive.

Recognize marketing at work. We are often made to feel envious by clever marketing. We’ll see ads of beautiful people enjoying products and, on some level, feel envious of that life and want it for ourselves – and lo and behold, here’s a product that will supposedly give it to us.

It’s even more insidious when it appears inside of the programs themselves, when “news” reporters fawn over how great the latest product is or a beautiful actor or actress uses a particular product in their beautiful home. You’re meant to feel envy. You’re meant to want that product.

Don’t.

ACTION: Be aware of how marketers use not just advertisements, but the programming itself, to make you want products. Watch for product placement in television comedies and dramas and reality shows and be aware of how blatant it can be at times. By deconstructing these kinds of things, you make them less powerful.

Choose to be generous with your own time and money. When you give your time and energy and money to others, you see how something that doesn’t have as much value for you is incredibly valuable for others, and you begin to realize how much value you have and how much you have to give.

For example, the simple act of carrying a couple bags of food to a person’s car when they can’t get around very well is an example of how just a little bit of your own effort and time saves that other person a ton of effort and time. Not only does it feel good to do this, it also reminds you of how much abundance you actually have in your life.

ACTION: Perform a random act of kindness each day for someone, even just a small one. Carry someone’s groceries to their car for them. Catch someone’s cat for them if it gets loose. Pick up someone’s dropped wallet and return it to them. You’ll feel great, and you’ll realize how much abundance you already have in your life, which cuts back on the amount of envy and jealousy you feel toward others.

In the end, envy comes from a sense of not having enough and a sense that others have, somehow unfairly, found more than you. The truth is that most people have an abundance of good things in their life, once they see them, and that others may possess wonderful things but often have to pay a price for them.

Just because someone has something great in one area doesn’t mean life is unfair. It means that they made a choice and made sacrifices to have that success, that the success is something they wanted and were willing to sacrifice for, and that it’s worth celebrating openly and honestly. It doesn’t mean that you must have that thing in your life. You already have an abundance.

Good luck!

The post How to Get Over Feeling Envious of Other People’s Money and Success appeared first on The Simple Dollar.



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This Study Says You’re Probably Paying Bills You Don’t Even Know About

How many recurring charges have you got rolling around on your bank statement?

It could be more than you think, according to a new poll from CreditCards.com.

The site polled 1,002 U.S. adults and found 35% had unknowingly enrolled in an account that automatically pulled payments. Think: a TV streaming service, a magazine subscription or a gym membership.

You might be thinking, “But that’s illegal.”

You’re right. Companies can’t trick people into paying for services or products they don’t want, thanks to federal laws. However, many skirt this rule by offering “negative option” offers, the report says.

A negative option offer requires consumers to go back into their account and cancel a subscription or service to avoid recurring charges.

Which brings up another point: 42% of respondents described the process of turning off these recurring charges as difficult.

Here’s an Easy Way to Cancel Unwanted Subscriptions

Get a personal finance advocate, no human required.

Download a free app like Clarity Money.

Connect all your existing bank accounts, credit cards, you name it. (It’s safe.) Then, it’ll track where your money’s been funneling away.

It’ll break down your expenses by category, so you can see if you’ve been spending too much at restaurants, for example.

Perhaps the best part, though, is Clarity will call out your recurring subscriptions — and even cancel them for you. Got an old Match account? Still paying for your subscription to that magazine you never read anymore? What about the dusty gym membership?

All these show up, and you can see how much you’ve been spending each year. If you’re not a fan, click “cancel,” and it’ll do the rest for you.

If you want to see which subscriptions you have lingering, go ahead and download Clarity Money for free.

Carson Kohler (@CarsonKohler) is a junior writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.



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This is Why You Need to Find Out How Much You’re Paying in 401(k) Fees

People often forget the money in their 401(k) accounts is theirs.

It might sound silly at first, but it’s a valid point that Ash Toumayants, a financial adviser and founder of Strong Tower Associates, made.

Until a few months ago, I’d neglected my 401(k). I let the money sneakily funnel from my paycheck. Out of sight, out of mind.

But that’s probably the worst mindset ever.

Toumayants told me, “This is your money, and you need to stay on top of it. You have every right to understand what’s going on with it. It’s coming out of your paycheck. The minute it hits your account, it’s yours, so you should have some control over what happens.”

He wasn’t lecturing directly to me, by the way. This was a general statement — answering my question about why it’s important to check in on your 401(k).

Most obviously, you’ll want to make sure you have the right balance of stocks and bonds. Then, you’ll want to check for any sly fees. These, in the long run, can cost you thousands in savings.

What’s the Deal With 401(k) Fees?

As much as 62% of folks are simply unaware of how much they’re paying in 401(k) fees, according to a 2011 AARP survey.

A more recent CNBC article hit me with a shouty headline: “What you don’t know about 401(k) fees can cost you plenty.”

Toumayants explained, yes, 401(k) accounts have “unfortunate inherent fees.”

That’s because these accounts face more government regulations than other types of accounts. (Consider: The SIMPLE IRA.)

You might see three main types of fees, according to the U.S. Department of Labor:

  1. Plan administration fees pay for day-to-day operations like recordkeeping, accounting and legal services.
  2. Then you have investment fees, which pay managers to keep those investments flowing.
  3. Finally, individual service fees are based on any particular account features you might opt in for.

These are the three basic fees. There are others, depending on your plan, including sales charges and investment advisory fees.

So Who Pays These 401(k) Fees?

It depends.

Retirement plan providers, like a Fidelity advisor, don’t want to absorb these fees. After all, they’re also trying to make a buck or two.

So the employer or its employees pay them.

That decision, however, is up to your employer.

Toumayants says, to be fair, many employers don’t know what typical protocol is, so they’ll ask the advisor what to do.

An advisor might tell the employer it’s traditionally the employee who pays these fees. This keeps the employer happier — and more likely to stick with its advisor — because they’re paying less.

How 401(k) Fees Can Add Up Real Fast

If these fees have been left for you to handle, they’ll likely funnel directly from your 401(k) contributions on a quarterly basis, Toumayants explains.

Although these fees might not look like a ton at first, they’ll add up, the U.S. Department of Labor warns.

“Assume that you are an employee with 35 years until retirement and a current 401(k) account balance of $25,000. If returns on investments in your account over the next 35 years average 7% and fees and expenses reduce your average returns by 0.5%, your account balance will grow to $227,000 at retirement, even if there are no further contributions to your account. If fees and expenses are 1.5%, however, your account balance will grow to only $163,000. The 1% difference in fees and expenses would reduce your account balance at retirement by 28%.”

Check in on the 401(k) Fees You’re (Likely) Paying

Let’s get back to my naive self, who wasn’t checking on my 401(k)…  

I had no idea where to even find out which fees I was paying.

I searched for the latest 401(k) update through my email and logged in, but it didn’t outline anything. Toumayants said this isn’t abnormal. Fees aren’t always broken down as a line item. It’s not like, “Here’s a fee; here’s a fee; here’s a fee.”

It’s more like, “Hey, we took $30 out.”

To get that specific line item, you’ll need to check with your employer. By law, they must disclose fee information to you.

If you’re not sure if $30 is a lot, try getting a free “health” report for your account from a robo-advisor. Per my co-worker’s recommendation, I tried Blooom.

I was able to get a free analysis of how my account was faring — and to see what fees I was paying.

Actually, my fees weren’t so bad off. It was my mix of stocks and bonds and my diversification that was off… but that’s another story.

How to Use Blooom to Check the Health of Your 401(k)

You’ll log in with your 401(k) plan information, so go ahead and your username and password ready.

Blooom walks you through your account and immediately offers advice. Is your balance of stocks and bonds good? Are you taking too much risk for your age

And fees. It’ll tell you whether your fees are too high, so at least you know where you stand.

If you want to move forward and let Blooom optimize your account, you can sign up for $10 a month, but there’s no pressure.

Really, I just felt a whole lot better knowing I wasn’t stuck paying a ton of fees and crippling my ability to retire at a decent age — because, you know, the mountains are calling

Carson Kohler (@CarsonKohler) is a junior writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.



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10 Things I Learned When I Shopped (and Saved) for the First Time at Aldi

Eight Cheap and Tasty Taco Recipes

No matter your ethnic background or where you live, it’s fairly safe to say that almost everyone you know likes tacos. They’re easy to make, can be assembled with all kinds of ingredients, can be altered to fit nearly any diet (vegetarian, gluten-free, picky five-year-old) — and are often downright cheap.

When you can make tacos out of pretty much anything and your family will actually eat them, it’s hard to complain. Depending on the type of tacos you make, you may also score easy clean-up and simple-to-reheat leftovers to boot.

Still, it’s possible to expand your taco horizons by trying new fillings and flavors that are both delicious and cheap. Believe it or not, some taco recipes are even best when made with leftovers from other meals.

If you’re trying to save money on meals, it’s important to know all the different ingredients that can go into a taco while still tasting amazingly good. Here are some of the best cheap taco recipes from my own kitchen and around the web.

Sweet Potato and Black Bean Tacos

This recipe is a meal I’ve started making since I experimented with meal delivery service, Hello Fresh. Hello Fresh sent a similar dish and I altered the recipe so I could make it myself. Not only do the adults in our house love it, but the kids will eat it, too.

Ingredients:

  • 3 sweet potatoes
  • Can of black beans
  • Small onion, diced
  • Salt and pepper
  • Honey
  • Cumin
  • Olive oil
  • Flour or corn tortillas
  • Shredded cheese
  • Sour cream

Directions: Start by turning your oven up to 400 degrees. Wash and cut your sweet potatoes into one-inch cubes, then coat them in olive oil. Bake them in the oven for 25 to 30 minutes, until mostly cooked.

Once your sweet potatoes are almost cooked, heat up a skillet on the stove. Saute diced onion and black beans together on low.

In another skillet set on medium, take your baked sweet potatoes and add a few tablespoons of honey and some olive oil. Sprinkle with cumin as your potatoes are browning up.

Once you’re done, you can assemble your tacos however you want. Add black beans and sweet potatoes to your tortillas, then garnish with sour cream and cheese as desired.

Leftover Hamburger Tacos

Since my family is vegetarian, we always use soy crumbles in recipes that call for hamburger. But, this simple recipe is perfect with regular ground beef, and even leftover hamburger meat or patties from another meal.

Ingredients:

  • ½ pound to 1 pound of hamburger or soy crumbles
  • Small onion, diced
  • 2 cups lettuce, chopped
  • 2 tomatoes, diced small
  • Shredded cheese
  • Sour cream
  • Taco seasoning
  • Flour or corn tortillas

Directions: If your hamburger is browned already, you can easily just throw it into a skillet to heat it up and add taco seasoning and a cup of water until it’s ready to serve. If your hamburger isn’t cooked yet, you’ll need to brown it first before adding a packet of taco seasoning and a cup of water (possibly more, if required).

Once your meat is done cooking, start assembling tacos as desired. Add a layer of meat on the bottom, top with diced veggies, then add sour cream or cheese as desired. It’s as simple as that.

Shrimp Tacos with Slaw

While I really like this Real Simple recipe for shrimp tacos, I alter it to make a cheaper, easier version for my family.

Ingredients:

  • Bag of frozen shrimp
  • Avocado
  • Small onion, diced
  • Small tomato, diced
  • Bag of shredded cabbage
  • Mayonnaise
  • Sour cream
  • Sugar
  • Vinegar
  • Celery salt
  • Salt and pepper
  • Dry mustard
  • Taco seasoning
  • Flour or corn tortillas

Directions: The first step to getting started is making the slaw for your tacos. Whisk together ¾ cup of mayonnaise, 2 tablespoons of sour cream, 2 tablespoons sugar, 2 tablespoons diced onion, 2 tablespoons white vinegar, 1 tablespoon dry mustard, 2 teaspoons celery salt, and dash of salt and pepper in a bowl. Pour the mixture over your shredded cabbage in a bowl, mix, and set aside.

Heat a skillet on your stovetop and set the temperature on medium. From there, you can add frozen cooked shrimp and any kind of seasoning you want. Taco seasoning is a good choice, of course, but so is cumin or simple salt and pepper. You can also use Cajun or blackening seasoning.

Once your shrimp is prepared, cut your avocado into taco-sized slivers and begin assembling your tacos. Add a layer of shrimp and slaw, vegetables on top, and a slice or two of avocado to each taco.

Mushroom and Corn Tacos

One night, I was trying to find a way to use ingredients I already had when I stumbled onto this recipe for mushroom and corn tacos. Since I didn’t have the exact ingredients and wanted to make it cheaper, I altered it some. Here’s what I came up with:

Ingredients:

  • Canned or fresh corn
  • 1 tablespoon vegetable oil
  • Canned or fresh mushrooms, one pound
  • ¼ cup chopped fresh oregano
  • 1 teaspoon chili powder
  • ½ teaspoon ground cumin
  • 4 garlic cloves, chopped
  • 1 teaspoon kosher salt
  • 8 corn or flour tortillas
  • White onion, diced
  • Salsa
  • Fresh cilantro

Directions: Saute canned corn (or an equal amount of fresh corn) in a skillet on medium heat for at least five minutes. Remove corn from skillet and set aside.

Add oil to the skillet, then add mushrooms, oregano, chili powder, and cumin. Cook 2-3 minutes until mushrooms seem properly cooked, then add garlic and salt. Cook another 5 minutes until mushrooms are firm and add corn to the mix.

Saute for a few more minutes, then add a scoop of the mixture to your tortillas and garnish with fresh cilantro and salsa as desired.

Fajita Tacos

Fajita tacos offer a smart way to use up expiring bell peppers and red peppers. I’ve made this dish plenty of times, usually relying on whatever vegetables I have on hand — you can of course add strips of chicken if you want.

Ingredients:

  • Sliced peppers, at least two cups
  • Olive oil
  • Small onion, diced
  • Small tomato, diced
  • Taco seasoning
  • Shredded cheese
  • Sour cream
  • Taco shells or tortillas

Directions: Start by heating up a skillet on medium heat. Add sliced peppers and onions, then cook for 3-5 minutes. Once the peppers and onions have cooked down, add taco seasoning and water. Continue cooking for another 3-5 minutes.

Once the mixture is ready, add it to your taco shells or tortillas, then top with diced veggies, sour cream, and cheese as desired.

Garden Vegetable Taco Wraps

Garden vegetable tacos can be served warm (as described above) or cold as more of a “wrap.” Personally, I love to make the latter type of taco when summer hits and my garden is in full bloom. Here’s what you’ll need:

Ingredients:

  • Shredded lettuce
  • Cucumber, sliced thin
  • Tomato, diced
  • Zucchini, sliced thin
  • Onion, diced
  • Avocado, cut into slices
  • Ranch or garden flavored cream cheese
  • Flour tortillas

Directions: Start by dicing and slicing all of your vegetables. From there, you can spread a thin layer of cream cheese on your tortillas and begin assembling your wraps based on personal preference. While the vegetables above work great, you could consider adding other vegetables that taste good fresh, including mushrooms or peppers.

Easy Taco Salad

Taco salad is easy to make and hard not to love. We make it with soy crumbles at our house, but you can use ground beef, found turkey, chicken, or any other meat you wanted as well.

Ingredients:

  • Shredded lettuce
  • Tomato, diced
  • Onion, diced
  • Avocado, cut in slices
  • Bag of tortilla chips
  • Can of black beans
  • Ground beef or soy crumbles
  • Packet of taco seasoning
  • French dressing (we love Ken’s)
  • Sour cream
  • Shredded cheese

Directions: Start by cooking your ground beef or soy crumbles in a skillet on medium heat. Once the mixture is fully cooked, you can add a packet of taco seasoning and a cup of water. Continue cooking the mixture until the taco seasoning becomes sauce-like, adding more water as required. In another pan, heat a can of black beans until piping hot.

Assemble your taco salad starting with a bed of shredded lettuce. Add diced tomato and onion, sliced avocado, and black beans, then top with a few handfuls of crumbled tortilla chips. Add sour cream, French dressing, and shredded cheese on top as desired.

Rotisserie Chicken Tacos

We’ve written about the many ways to use leftover rotisserie chicken before, and rotisserie chicken tacos definitely fit the bill. With this recipe, you’ll start with leftover rotisserie chicken and end up with a taco dinner your family will love. This recipe is also extremely hard to mess up.

Ingredients:

  • Rotisserie chicken, shredded
  • Shredded lettuce
  • Tomato, diced
  • Onion, diced
  • Avocado, cut in slices
  • Packet of taco seasoning
  • Sour cream
  • Shredded cheese
  • Flour or corn tortillas

Directions: Heat a skillet on medium before adding your leftover rotisserie chicken, a packet of taco seasoning, and a cup of water. Cook on medium heat until chicken is fully heated and the taco seasoning takes on a sauce-like texture. Continue adding water as required.

Once your chicken is fully cooked, you can start assembling your tacos. Start with a layer of chicken, then add diced veggies, avocado, shredded cheese, and sour cream if you desire.

Holly Johnson is an award-winning personal finance writer and the author of Zero Down Your Debt. Johnson shares her obsession with frugality, budgeting, and travel at ClubThrifty.com.

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What is your favorite cheap taco recipe? Please share in the comments!

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Give Those Tomatoes a Second Life With Our Step-by-Step Canning Instructions

Changing opinions of peer-to-peer

Changing opinions of peer-to-peer

It may still be a relatively new sector, but the public perception of peer-to-peer (P2P) lending is changing quickly.

Data from the Peer-to-Peer Finance Association trade body shows there were 181,068 consumers actively lending through its member firms in the first quarter of 2017. An active lender is defined as someone with at least £1 lent through a peer-to-peer provider.

This compares with the 111,226 active lenders recorded in the first quarter of 2015.

Moneywise readers are also increasingly interested in using peer-to-peer as they look for a better return on their cash.

Back in 2014, 84% of Moneywise readers ruled out peer-to-peer as an option for their savings. Yet by 2016 71% of respondents to our poll said they were considering it, with 39% already investing some of their cash in peer-to-peer.

Our most recent poll, conducted in May 2017, found that 48% of Moneywise readers were now using peer-to peer.

Stuart Lunn, chief executive officer of P2P platform LendingCrowd, says consumers are warming up to the idea of investing in this way.

“What we are seeing is a significant shift, with many new investors being attracted to the industry over the last 18 months,” he says.

“Given the backdrop of low returns on cash and perceived risk of stock market falls – investors are therefore looking at P2P investing as an alternative risk/return profile.”

Of course, investing in P2P doesn’t come without risk. Unlike cash savings, which are protected up to £85,000 per provider by the Financial Services Compensation Scheme (FSCS), there is no such safety net for P2P investors.

Even if your platform offers investors the chance to sell loans, you may not always be able to get your cash back as quickly as you want - especially in the event of a financial downturn.

Read Moneywise’s guide to the risks of peer-to-peer lending to find out more about the dangers of P2P.

Who has invested in peer-to-peer?

A wide range of people are investing using peer-to-peer. This includes consumers looking for a better return than they can get from cash savings accounts, or those looking for an alternative to traditional investment.

Reader David Miller says he has invested around £2,000 in peer-to-peer and has been satisfied with his return, which is around 8.9%.

“I am very pleased with this alternative form of investment,” he says. “It is riskier than more conventional and safer investments, but my experience has been a positive one and I will increase my investment in the future.

“However, I would always stress that this must be part of a balanced portfolio of investments. In my case, this includes both Cash and Stocks and Shares Isas, shares, premium bonds, property, and now P2P lending.”

However, other readers are more cautious about peer-to-peer.

Moneywise reader Mark Tucker says: “I have invested thousands in numerous firms, looking to spread the risk. My only concern is whether my money would be lost if any of the firms went bust.”

From the platform perspective Mr Lunn says the demographics of peer-to-peer customers are also changing, buoyed by the launch of the Innovative Finance Isa.

“Historically investors have tended to be male, over 50, based in South East England and of above average disposable income,” he says.

“However, the influx of new investors is broadening this to include more of the UK, a higher proportion of female investors and a wider age range. The Innovative Finance Isa is helping this shift, given the more general adoption of Isa products and the willingness for existing Cash Isa and Stocks and Shares Isa investors to diversify into the new Isa category.”

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Which property improvements add value? Find out using our Home Renovation tool

Which property improvements add value? Find out using our Home Renovation tool

Perhaps you’re thinking of carrying out a few home improvements to make your living area more spacious? Or are you looking for ways to increase the value of your home before you sell?

Either way, it pays to know which home renovations will add value, avoiding ones that will soak up your money without offering enough of an advantage.

To help, Towergate Insurance has developed a handy online tool to show the value of different home improvements – from adding a fireplace or re-decorating the exterior of your home to carrying out major plans such as adding a garage or single-storey extension.

Simply key in the value of your house to see the average cost of various renovation projects, how much they will typically go up in value and your estimated profit.

For example, if you live in an average priced house of £223,257 (according to the latest UK House Price Index data), adding a loft will cost you £17,500, increasing the value of your property by £33,489 and giving you an estimated profit of £15,989.

If you are on a tighter budget, adding decking to your garden will cost around £2,175 and will increase the value of a typical house by £4,465, giving you £2,290 profit.

To see which improvements will add value to your home, use the tool below: 

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الثلاثاء، 29 أغسطس 2017

Is No Job Better Than a Bad Job?

Research shows that being unemployed has negative health effects, but having a bad job can cause stress that's detrimental to well-being.

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Is No Job Better Than a Bad Job?

Research shows that being unemployed has negative health effects, but having a bad job can cause stress that's detrimental to well-being.

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Blinded By the Savings: 7 Tips to Make You a Savvier Rebate App Shopper

I had a come-to-Jesus moment in the grocery store a few weeks ago.

As I peered into my cart, I noticed some items that screamed, “Put me back!”

Two bottles of a sparkling probiotic drink. A cup of “just add water!” oatmeal. A box of frozen fruit snacks. A case of Bud Light.

These items might seem a bit haphazard, but they all currently fit offers on Ibotta, one of the many cash-back rebate apps. Collectively, I could earn $5 back from these purchases. The money would get added to my lifetime earnings, increasing my rank and inching me closer to a $1 bonus.

As I was busy convincing myself I needed the items, the Penny Hoarder side of me considered how much the items cost in total, something close to $28 — or $23 if you want to count the rebate I’d receive.

That’s a good chunk of money — especially for items that didn’t even make up a meal. I’d recently become hooked on the probiotic drink after getting sucked in through Ibotta. It wasn’t integral to my livelihood, though blogs have told me probiotics are good for you.

The oatmeal was a total experiment. I don’t even enjoy oatmeal that much. The fruit snacks were just like the probiotic drink: I’d gotten hooked. Those were something like $5 — but organic.

And the Bud Light? That was for my dad. I volunteered to buy it because, well, cash back.

I decided to go on my merry way but to consider my shopping habits more carefully next time.

7 Ways to Make the Most of Your Rebate Apps

I needed help, so I reached out to my cohorts at The Penny Hoarder and polled our Facebook community group: What are your strategies to avoid cash-back temptations?

Here are a few tips that’ll help you — and me — stay on track.

1. Make a Shopping List First

Before I head to the grocery store, Target or even the bar, I check Ibotta to see which cash-back deals are available.

I scroll through the categories, adding unneeded temptations into my queue, then ogling over the cash-back total. As we established above, I’m really not saving.

Rather than building my shopping list around products featured on Ibotta, I’d be better off making my list first.

That’s what Alicia Hopkins from our Facebook community group suggested.

Once you have your grocery list, then peruse Ibotta to see if, say, paper towels, are on there.

(Side note: Hopkins also admits she finds receipts in the parking lot and will sometimes get cash back that way. Not a bad strategy!)

2. Check the Store’s Coupons First

Publix is my go-to spot. Although I love Ibotta, I tend to find some better deals on my Publix coupon app for items — and brands — I’m more likely to buy.

Be sure you’re considering the store’s coupons after making your grocery list. Then, compare it with the Ibotta deal and see what’s best.

Also, take note that with the store coupons, you’ll immediately end up paying less. With Ibotta, you’ll earn cash back only after your purchase. If you’re in a tight spot, this could make a world of difference.

3. Compare Prices of Different Brands

This one requires some more math, but don’t panic.

If you’re feeling tempted by the cash-back offer, at least calculate the rebate into the price and compare it to different brands. Perhaps the store brand is still cheaper than the other item — even with the cash back.

4. Shop the “Any Brand” Category

Ibotta has a cash-back category called “Any Brand.” This allows you to earn cash back on a product — no matter the brand.

For example, right now you can earn 25 cents back on any brand of a salad kit. This includes pre-packaged salads with toppings and dressings already in there. You don’t have to buy the most expensive, promoted brand in this case. You can opt for the store-brand kit and save.

In the same vein, Ibotta has deals on produce. Typically, you don’t have to buy a certain brand of kale, for example. If you want to go organic, do it. If not, get the cheapest stuff, and still score that money back.

5. Read the Fine Print

One of the biggest “derp” moments I had while using Ibotta was when I purchased dish soap — the kind that was actually about 30 cents more expensive than the brand I normally buy. I’d get something like 50 cents back. I’d done the math. Earning 20 cents was better than nothing, right?

Well, I didn’t read the fine print, and I didn’t notice I had to buy two lots of dish soap to earn the rebate.

This happened to my editor, Matt Wiley, too. He bought batteries thinking he’d get some money back on the staple. Nope — he had to buy two packs.

Moral of the story? Read the fine print. If it requires you to buy multiples to earn the cash back, factor that into your calculations. Is it really worth it?

6. Acknowledge Your Indulgences

If you have items you like to buy — but don’t necessarily need — consider only splurging when it comes with a cash-back opportunity.

For example, that sparkling probiotic drink I mentioned earlier? I’m hooked on it. However, I can’t justify paying $3 a bottle, so when the item is offered on Ibotta, that’s when I allow myself to splurge.

I’ve found that even when your favorite product is no longer listed on the app, that doesn’t mean it’s gone forever. You’ll likely see it again in a few weeks.

7. Don’t Open the App Until After Your Spree

If you can resist the temptation, wait to check for rebates after your grocery run.

“I do my shopping, then check for possible rebates after, so I’m not tempted to buy stuff I don’t need,” our Facebook community group member Kelly Trevithick says.

However, you must be prepared to acknowledge that you might miss out on deals you could have gotten.

Say you bought Charmin toilet paper, but the Scott brand had a cash-back offer. You could have probably saved more just by switching up brands — unless you’re a toilet-paper loyalist.

But this really is the best way to avoid temptation — just know you might miss out.

So Will I Keep Using My Cash-Back Rebate Apps?

Of course I will. I’m hooked.

But I’ll consider my purchases more closely now — and maybe even break out a calculator every now and then to do some math.

It’s important for me to remember the immediate savings is more beneficial than delayed cash back.

I’ve earned something like $45 back in about three months, but it would have been more helpful to just immediately save — because I likely won’t cash out anytime soon. I like to accumulate my prize, just like that kid who goes to Chuck E. Cheese’s and takes her tickets home with her.

“Next time I’ll stack up even more for the BIG prize,” she thinks. (Yeah, that was totally me.)

Carson Kohler (@CarsonKohler) is a junior writer at The Penny Hoarder. She’s sippin’ on that probiotic drink as she types this.

This was originally published on The Penny Hoarder, one of the largest personal finance websites. We help millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. In 2016, Inc. 500 ranked The Penny Hoarder as the No. 1 fastest-growing private media company in the U.S.



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