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الأربعاء، 1 مارس 2017

This Survey Shows a Shocking Number of Parents Don’t Understand Co-Signing

Imagine this scenario: Your beloved child just got accepted by the school of their dreams, and now, they’re jumping through hoops to figure out how to pay for it.

“Mom, can you co-sign on this loan for me?” they ask.

You agree to do it, not only because you want your child to have a bright future, but also because you want your child to buy you a nice beachfront condo when they eventually strike it rich.  

But do you know the real impact your kind gesture can have? If repayment doesn’t go according to plan, you’re on the hook.

Student loan refinancing service LendEDU surveyed 500 parents who co-signed on a child’s private loan. The results are… not good.

Do People Really Not Know What Co-signing Means?

Nope, no clue.

About 90% of all private student loans have co-signers, according to LendEDU’s data.

You may remember applying for federal loans and listing the names and phone numbers of people who might know where you are if you poof on your loans. Those people were not your co-signers; they simply serve as references in case your federal loan repayment record starts to take on fugitive status.

Co-signing means that if the student fails to make loan repayments in a timely fashion, the person who also signed on the loan is 100% on the hook.

Thirty-three percent of the parents LendEDU surveyed said they didn’t really understand the financial risk they would take on by serving as a co-signer.

College Grads, You Are Being Downright Awful to Your Parents

Get a bunch of co-signing parents together, and the room suddenly feels a bit chilly.

Almost 57% of the parents LendEDU surveyed said they thought their credit score took a hit because they served as co-signer. More than 51% of respondents thought their children’s student debt was “putting their retirement in jeopardy.”

“With more than 90% of private student loans being cosigned, it is very possible that this generation of parents have or will have to put off retirement in order to mitigate the losses brought on by cosigning their children’s student loans,” LendEDU’s Mike Brown wrote.

Why so grim? Because more than 34% of the co-signing respondents’ kids had made late payments on their loans. Almost 67% of the parents surveyed said they helped their children make monthly payments on the loans they co-signed.

Yes, the parents serve as a backstop for a co-signed loan, but the line on this lifesaver is short.

It takes nine months of delinquent payments before you your federal student loan goes into default and to collections.

Private loans? Lenders consider them in default if you miss three months of payments. That means parents don’t have a long window to make sure they’re not on the hook for their child’s payments — or suffering the negative impact of a collection on their credit.

The Way Out of Co-signing

Parents and other co-signers can ask private lenders for a co-signer release to remove them from their kids’ loans.

But you can’t exactly sneak out unnoticed. After requesting a release, the borrower must submit detailed financial information to prove they’re creditworthy. The borrower also must have a decent repayment history.  

For parents of soon-to-be borrowers, there’s another option beyond co-signing for private loans. Some undergraduate students and their parents may be eligible for Direct PLUS Loans, which the Department of Education grants.

The parent is 100% responsible for repaying this loan from the get-go, and the student can’t take over the loan at any time. But this method could help parents stay in good graces while working with their children to determine how the new grad can contribute to their generous parent’s repayment plan.

Your Turn: Have you co-signed on a student loan? Do you have regrets, or was it a good experience?

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

The post This Survey Shows a Shocking Number of Parents Don’t Understand Co-Signing appeared first on The Penny Hoarder.



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Pepsi to lay off 80 to 100 workers

PHILADELPHIA (AP) — Pepsi says slumping sales from Philadelphia's new sweetened-beverage tax are prompting layoffs of 80 to 100 workers at three distribution plants that serve the city.The company sent out notices Wednesday saying layoffs will occur at plants in north and south Philadelphia and in Wilmington, Delaware, The Philadelphia Inquirer reported.Dave DeCecco, spokesman for the Purchase, New York-based company that employs 423 people in the city, said the tax has [...]

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YouTube TV Will Stream 40 Channels for $35 a Month — Time to Cut the Cord?

Cutting the cord is a popular topic these days. With numerous streaming services out there, it’s tempting to ditch your costly cable subscription and take the plunge into a no-contract, internet-based service instead.

But what about when you want to watch, say, the Oscars or the World Series? And of course, you don’t want to let go of your beloved Netflix — that would just be ludicrous. Yet if you start subscribing to multiple streaming services to access all your favorite programs, you may end up paying more than you would with cable!

So how are you supposed to ditch cable contracts and still watch everything you want to without falling into a financial black hole?

YouTube could make it possible.

Introducing YouTube TV

On Feb. 28, YouTube announced its newest service, YouTube TV.

For $35 a month, YouTube TV offers live TV streaming and a cloud-based digital video recorder service. Even better: There’s no long-term contract.

The cloud-based DVR means you can watch and record as many live TV programs as you want all at once, and it never runs out of storage. You can stream recorded programs on multiple devices, such as your cell phone, tablet or computer, and store them on the cloud for up to nine months.

The service offers more than 40 networks, including ESPN, ABC, NBC, The CW, Fox Sports, E!, Disney, National Geographic and others. YouTube Red, the company’s original content platform, is also included in the subscription.

For an additional cost, customers can add Fox Soccer Plus or Showtime.

The only downfall? You need a Google Chromecast or a TV with built-in Chromecast. Fortunately, a Chromecast only runs about $35 from Best Buy.

How Does YouTube TV Compare to Cable?

So, is it really that great? I decided to take a closer look.

My cable provider is Spectrum. I headed to its website and looked at the plans it offers to find one as close to the YouTube TV service as possible.

With Spectrum, I could get 125 channels for $46.04 per month. If I wanted a DVR, it would up the bill to $63.02 per month, plus a one-time fee of $34.99. The total cost upfront would be $98.01.

Include my $39.95 internet bill, and I would pay $102.97 per month with Spectrum.

How does that compare to switching to YouTube TV?

The YouTube TV subscription would cost me $35 and a Google Chromecast would be about $35. Throw my internet into the mix, and the upfront cost would be $109.95. That’s $6.98 more expensive than cable.

However, my monthly cost would drop to $74.95. That’s a difference of about $28.

Over the course of a year, I could save about $336 if I had YouTube TV instead of cable, which definitely covers the $6.98 extra upfront costs for YouTube TV.

And with Spectrum, I can’t record multiple shows at once or watch them anywhere I go. I would have to be at home to watch anything.

But Wait — Here’s How You Can Save Even More With YouTube TV

If you’re still reading, congratulations; I saved the best part for last.

YouTube TV users can create up to six different accounts under one subscription for no extra cost, making it perfect to share with your family or friends.

So, here’s some more math (bear with me, this one is easy): $35/6 people = $5.83 per person.

Basically, you could get cable for less than $6 a month and watch it wherever you go.

On that note, I might start calling my friends to see who’s interested in sharing an account with me.

What’s the best plan for you? It depends on what type of services you’re looking for and how it all adds up. So do a little math, and find out!

Your Turn: Will you make the switch to YouTube TV?

Kelly Smith is a junior writer and engagement specialist at The Penny Hoarder. Catch her on Twitter at @keywordkelly.

The post YouTube TV Will Stream 40 Channels for $35 a Month — Time to Cut the Cord? appeared first on The Penny Hoarder.



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These 2 Gorgeous Countries are Hiring — One Will Fly You There for Free

Would you move to another country for a new job?

For lots of us, the immediate answer would be no. We’d miss our friends, family and our cornhole team that’s been on a winning streak all year.

But if you’re up for an adventure, you might want to check out the job market in these two beautiful locations.

1. Score a Free Trip to New Zealand

A collective of companies in Wellington, New Zealand have put out a worldwide call to fill scores of job openings, including digital strategists, creative directors and software developers.

“The city will host 100 candidates for a free weeklong trip where techies can participate in job interviews and get to know New Zealand. The trip will include pre-arranged job interviews, meet-ups with others in the tech industry and trips around Wellington,” Time reports.

If you’re open to moving to New Zealand for work, but don’t know much — or anything — about the area, this is a commitment-free way to see if it’s a good fit.

To get in on this opportunity, head over to the City of Wellington’s website and register for a free Looksee Wellington account.

If you’re nominated by prospective employers, you’ll be flown over to spend a week getting to know the location and the companies interested in hiring you.

If you land a job, the cost of living is roughly the same as some medium-to-large U.S. cities.

  • Fast food combo meal: $8
  • 16-ounce domestic beer from a market: $4.05
  • 2-liter bottle Coca-Cola: $2.47
  • Monthly rent, 480-square-foot furnished studio: $1,022
  • Monthly utilities for one person (heating, electric, gas): $99
  • 2 movie tickets: $17
  • Pub dinner for two: $36

Wellington is known for its abundance of live music and beautiful waterfront scenery, so you won’t be bored on your days off.  

2. Help Correct Denmark’s Labor Shortage

Companies all over Denmark are reporting severe challenges in filling job openings with local workers.

That doesn’t sound very cozy — or “hygge,” as the locals call it.

“More than a third of companies in this industrial and technically advanced nation can no longer recruit enough skilled workers to fill posts. Vacancies abound for I.T. specialists, computer scientists, engineers and mechanics, as well as for electricians and carpenters,” notes the New York Times.  

In response, several companies are pulling together to recruit workers from overseas to fill the gaps.

Large corporations like Microsoft are targeting job seekers around the world, but plenty of smaller companies have openings as well.

If the idea of living in the country that invented Legos appeals to you, stop by Work In Denmark’s website and set up a profile.

The Times says employee wages are going up in Denmark to lure new workers to the area. That’s good, because the cost of living is a little higher than some U.S.-based workers may be used to.

  • Fast food combo meal: $10
  • 16-ounce domestic beer from a market: $1.64
  • 2-liter bottle Coca-Cola: $2.99
  • Monthly rent, 480-square-foot furnished studio: $900
  • Monthly utilities for one person (heating, electric, gas): $185
  • 2 movie tickets: $29
  • Pub dinner for two: $66

If you move to Denmark, you’ll want to get familiar with its customs and traditions right away — beginning with bicycle culture.

Your turn: Would you work abroad in New Zealand or Denmark?

Lisa McGreevy is a staff writer at The Penny Hoarder. If its CEO ever decides to open a satellite office, she’d move to either place instantly. Follower her on Twitter @lisah

The post These 2 Gorgeous Countries are Hiring — One Will Fly You There for Free appeared first on The Penny Hoarder.



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This is Not a Joke: The Onion is Looking for Work-From-Home Sports Writers

I’m one of those gullible people who reads a shocking headline on Facebook, gasps for 0.2 seconds, then realizes it’s just another viral article from The Onion.

Then I laugh.

Sometimes it’s a nervous laugh — because the headline actually sounds like it could be real.

Other times, it’s because the headline (one like “Lax PetSmart Background Check Allows Deranged Gerbil To Slip Through The Cracks”) simply incites a hearty giggle.

So now that my co-workers have heard me laugh out loud at The Onion headlines from my desk at least 10 times in the past 10 minutes, let’s get to the point: The Onion, “America’s finest news source,” is looking for remote sports contributors.

The Onion Needs Work-From-Home Sports Contributors

If you haven’t caught the gist yet, The Onion is a satirical news site. It provides it’s millions of followers with belly laughs each day.

Right now, it’s looking for some jokesters to work as freelance contributors.

It’ll be your job to submit headlines and feature ideas on a weekly basis.

“We seek smart, prolific joke writers with a sense of humility and a deep knowledge and interest in sports,” the listing states.

You’ll work remotely and be paid after each story has been published. Pay per story is not specified in the job listing, but I did reach out and will update you once I hear back.

Do note that this is only for Onion Sports; there are no other opportunities to pitch to The Onion right now.

How to Apply to Write for The Onion

This is an open call, and will remain open until Monday, March 6, at 11:59 p.m. CST.

To apply, you’ll need to submit a packet that includes:

  • A one-paragraph cover letter
  • A list of 10 Onion-style sports headlines
  • A list of five feature jokes for “Best Sports Movies Of All Time” (See the job listing for a more comprehensive explanation.)

You’ll submit this information in one Word Doc, attached to the application. No need for writing samples. And no eager-beaver phone calls or emails.

You’ll hear if you made the cut by April 10.

Then, The Onion will put you on a four-week trial run. If you pass, you’ll become a regular contributor.

Think you have what it takes? Read all the details, and submit your application packet online.

If you’re not funny, that’s OK, too. We have plenty of other job opportunities over on our Facebook jobs page.

Your Turn: What’s your favorite headline from The Onion?

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

The post This is Not a Joke: The Onion is Looking for Work-From-Home Sports Writers appeared first on The Penny Hoarder.



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Got a Serious Case of the Munchies? Papa John’s is Here to Help for $2.99

Papa John — that smiley-faced pizza CEO who mugs in TV commercials with Peyton Manning — knows America all too well. His pizza chain is testing a new feature that’s counting on our lack of patience and love of instant gratification.

What could possibly go wrong with this plan?

Papa John’s is trying out a $2.99 fee that allows hungry customers to skip ahead of everybody else and bump their pizza delivery order to the front of the line. It’s only at select locations — for now.

Whatever happened to the concept of first come, first served? Oh, c’mon, that’s so 2016. That’s for people who aren’t willing to shell out an extra three bucks.

Oh, and they’re calling this new option “PapaPriority,” which is just perfect. Just. Perfect. Say it with me: PapaPriority. PapaPriority. PapaPriority.

We all know how this thing will play out.

Picture a guy — let’s call him Tyler — who’s had a few brewskis with his buds on a Friday night. Tyler’s also totally high, by the way, and he’s starting to get the munchies.

What time is it? Why, it’s pizza o’clock! Tyler wants him a hot slice of pepperoni and mushroom PRONTO.

He calls Papa John’s and orders a couple pies. What? Three bucks extra to go to the front of the line? Hell yes.

Impulse control? What’s that? Tyler ain’t gonna be waiting around for his ‘za. Let the other people wait. It’s a dog-eat-pizza world out there, dude.

Repeat this scenario all across the suburban cul-de-sacs of America, and Papa John pockets an extra three bucks over and over and over again.

A Pepperoni-and-Cheese FastPass

So, won’t other customers object when their pizzas get bumped back in the line? Well, they won’t necessarily be aware of that, now will they? Who’s gonna tell them?

And fear not, good citizen: Papa John’s says its PapaPriority option has gotten “great customer reception.” So there’s that.

The pizza chain has been testing this system at a limited number of restaurants and is now looking to expand it to more locations, the Associated Press reports.

On the Papa John’s website, the pizza chain justifies this optional $2.99 fee by noting that “there might be some situations where you would like your pizza a little faster on busy nights when there might be a longer wait due to the number of orders at the restaurant.”

Also, there are some limitations to this new option. Papa John’s says paying this fee won’t guarantee that your pizza will be delivered by a certain time. It only means the restaurant will make your pizza faster and send it out for delivery sooner than the non-PapaPriority customers’ pizzas.

The company is also limiting the total number of PapaPriority orders to five per night at each location.

Welcome to the Future, Paying Customer

Although Papa John’s appears to be the first pizza delivery chain to try this strategy, it’s worth noting that it’s simply taking a page from the airline industry, which allows passengers to pay an extra fee and move to the front of the boarding line.

Of course, the pioneers of this particular strategy are Disneyland and Walt Disney World. In 1999, Disney launched its FastPass system, which allows customers to skip long lines at certain attractions. In January 2017, Disneyland added MaxPass, which gives customers digital FastPasses via their smartphones and unlimited PhotoPass downloads for an extra $10 per day.

So it appears this concept may be spreading. You might see more of this kind of thing in the future.

Always remember: Instant gratification is not fast enough.

Your Turn: Would you pay $2.99 to move your pizza to the front of the line?

Mike Brassfield (mike@thepennyhoarder.com) is a senior writer at The Penny Hoarder. He thinks all pizza should have mushrooms on it.

The post Got a Serious Case of the Munchies? Papa John’s is Here to Help for $2.99 appeared first on The Penny Hoarder.



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This Report Says Working From Home Can Literally Make You Lose Sleep

There’s no denying that working from home has its benefits.

Who doesn’t like the idea of getting paid to lounge on the couch in your PJs, blasting goth metal and eating leftover Pizza Rolls?

There’s no judging happening here.

If you’re reading this at the office and feeling jealous of your home-based peers, I have some news that might make you feel better about your life choices.

People who work from home are generally more stressed out, work longer hours and can’t sleep.

But don’t take my word for it.

A joint report by the UN International Labour Organization (ILO) and Eurofund says teleworking is associated with “risk factors related to work intensity, supplemental hours of work and longer working hours overall, which seem to have a negative impact on stress, sleeping problems and the perceived impact of work on health.”

Yikes.

I Left My Work-Life Balance at the Office

Researchers say one of the main reasons remote working heightens stress and sleeplessness is because it’s really hard to separate yourself from your job when your office is in your home.

Even if you just use a laptop propped on the living room coffee table, it’s difficult not to think about work when you have to pass your “desk” to get to the bathroom, kitchen or bedroom.

As a result, work hours tend to bleed into personal time, even though working outside normal or contractual business hours is typically unpaid, researchers say.

Working for free is bound to stress anyone out.

To be clear, the survey doesn’t suggest companies pressure work-from-home employees to add extra hours to their day. In fact, researchers acknowledge many organizations actively encourage remote workers to find a good work-life balance.

In other words, we do this to ourselves.

Message Me, Maybe

What’s the answer? Well, you don’t have to trudge to the office every day to be all zen during your off hours.

Jon Messenger, co-author of the report, says, “the use of modern communication technologies facilitates a better overall work-life balance.”

Here at The Penny Hoarder, our teams use an internal messaging system on our computers and phones that allow us to stay connected during the workday, no matter where we are.

Since most of us work from home at least once a week, it’s a great way to stay involved with our teams and still be comfortable enough to shut down at the end of the day, just as if we’d been in the office.

(Want to know a secret? The Penny Hoarder staff likes our communication system, so we offen message each other even when we’re actually in the office. I haven’t used my vocal cords in two days.)

Find Your Work-Life Balance

If your company doesn’t use messaging platforms to keep workers connected, you can still carve out your own way to keep insomnia and stress at bay.

Whether you have a dedicated home office or just work from a corner of the couch, set your hours (with your boss’s approval) and stick to them.

When your work day is over, sign out and shut down. Stow your laptop or workstation somewhere it won’t quietly call out to you until bedtime.

If you have a home office in a spare room, close the door — all the way.

The best thing you can do for yourself and your employer is to take care of your own well-being. That means reducing stress, getting enough sleep, and ignoring the siren call of doing “just one more thing” during off-work hours.

Your turn: What’s your favorite work-from-home wellness trick?

Lisa McGreevy is a staff writer at The Penny Hoarder. She once stuffed her company-issued laptop in the linen closet to keep from tackling “just one more thing” before bed. It didn’t work.

The post This Report Says Working From Home Can Literally Make You Lose Sleep appeared first on The Penny Hoarder.



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5 Clever Facebook Video Ad Hacks That Will Lower Your CPM by 81%

Scroll through your Facebook feed, and you can’t help but see video ads. Quite a few of them actually.

You may have even seen my video ads, which I’m using to promote my businesses.

I’m doing this, of course, because Facebook Video is huge right now.

One of the more recent studies found that there are “8 billion daily views for Facebook Video in November 2015—a 100% growth from 6 months prior to the study.”

And here’s another interesting stat.

Videos’ organic reach on Facebook is 135% greater than that of photos.

image06

This means one thing. There is an insane number of opportunities out there.

Including Facebook Video ads in your marketing repertoire can yield big results.

But like with any form of paid advertisement, you’ll naturally want to lower your costs and maximize your ROI.

That’s a given.

I’ve done plenty of experimentation with Facebook Video ads and have come up with a recipe that gets me the most bang for my buck.

More specifically, I’ve come up with a way that will lower your CPM (cost per thousand) by as much as 81%.

Here are five clever Facebook Video ad hacks you need to know and implement right away.

1. Only feature videos that you know get engagement

Although this is an incredibly simple hack, it’s one many marketers overlook.

Often, they’re so thirsty to get their video content up and running on Facebook, they never take the time to perform some basic split-testing beforehand.

Here’s what I recommend.

Create a few different videos or variations of a single video (at least three), and do some basic split-testing to see which one is getting the best response.

However, place them on channels that won’t cost you a dime.

For instance, you might:

  • feature videos organically on Facebook
  • place them on your website or blog
  • place them on other social media channels

Then, take a look at some key metrics such as:

  • play rate
  • average length of viewing
  • engagement levels
  • number of leads each video generated
  • number of conversions each video produced

Here’s a graph that illustrates the various methods of measuring video success:

image02

You get the idea.

Before you put your hard-earned money into Facebook Video ads, test the waters and see which video(s) your target audience responds most favorably to.

That way, you can approach Facebook Video ads with confidence.

That, right there, should lower your CPM considerably.

2. Keep them short and sweet

Wistia performed some fairly extensive research on the length of videos and engagement levels.

In fact, they examined 564,710 videos and more than 1.3 billion plays for their research.

Here’s what they found:

image04

As you can see, there’s a steady level of engagement for up to 2 minutes:

image05

But after the 2-minute mark, engagement drops off considerably until it hits 6 minutes.

At that point, engagement stabilizes once more until it reaches 12 minutes.

image03

So, here’s the deal.

I wouldn’t recommend exceeding 2 minutes with your Facebook Video ads.

You probably won’t do yourself or your marketing budget any favors if you exceed this time limit.

Or as Wistia puts it,

Two minutes is the sweet spot.

But they also make another interesting point:

Engagement is steady up to two minutes, meaning that a 90-second video will hold a viewer’s attention as much as a 30-second video. This is surprising and actionable information for video marketers.

If you’re making short videos, you don’t need to stress about the difference of a few seconds. Just keep it under two minutes.

I find this to be great advice. You don’t need to sweat, getting your video length to an exact number of seconds.

Just keep it under 2 minutes, and it should maximize your engagement and lower your CPM.

But if you absolutely have to make a longer video, make it between 6 and 12 minutes because this is the “sweet spot number two.”

Anything longer than 12 minutes is just foolish.

3. Advertise “without advertising”

Here’s the thing about Facebook. Most people aren’t in the buying mindset when they log in to their accounts.

Most people are simply checking in to see what’s going on with their social circles and what their friends and family are up to.

Their mindset isn’t usually,

I’m desperately looking to make a purchase.

They may be thinking that when they log in to Amazon—but not Facebook.

Or as Aaron Zakowski eloquently puts it,

They’re buying intent is low.

This graph shows how people spend their time on Facebook:

image00

And guess what? None of these activities involve buying.

I think it’s really important to keep this in mind when approaching your video ad content.

The last thing you want to do is clobber users over the head with ads that have the subtlety of a slap in the face.

What you want to do is to promote your product/service/brand without making it seem like an advertisement.

You need to be cool about it. You need to be stealth.

How exactly can you deliver your message without being overly salesy or pushy?

Here are some suggestions:

  • infuse humor into your ad
  • use storytelling
  • surprise them/catch them off guard
  • teach them something
  • offer insightful information

In other words, ditch the pitch.

People hate being pitched to, and it’s only going to inflate your CPM.

Instead, try to be entertaining and strive to make a genuine connection.

4. Add captions

There’s another phenomenon about Facebook videos that I’ve noticed.

It’s that many of us don’t watch videos with sound.

I know I find myself doing this quite a bit. And there are several reasons for this.

For instance, a person might be at work and “sneaking into” their account when they should be tending to more pressing matters.

Or a person might be accessing their Facebook account via mobile device in a public location where it’s simply not appropriate to have the sound blaring.

This means that a decent chunk of the people viewing videos are doing so without any sound.

If your video ads lack captions, this can obviously be a problem because it’ll be difficult for the viewer to decipher what you’re trying to promote.

One study of Facebook video ads even found that

41% of videos are basically meaningless without sound.

In turn, many people will simply gloss over your video ad and scroll down to the next interesting thing in their feeds.

If you haven’t been using captions thus far, I suggest including them right away.

This is almost guaranteed to improve engagement and, in turn, lower your CPM.

In fact, internal testing from Facebook found that

captioned video ads increase video time by an average of 12%.

5. Add music for those who do listen

I know it may sound a little contradictory to suggest adding music, considering my last point was about a great number of people viewing video ads without sound.

But there will be a portion of users who will view your ads with the sound on.

You’ll want to do everything within your power to increase their focus.

One of the most effective ways to go about this is to include music.

I’m sure you’ve heard about how helpful music is for aiding students in studying:

image01

But you don’t want to include just any type of music.

You also don’t want the music to get in the way and drown out what someone is trying to say in the video.

It should simply accompany the video and enhance it.

But which type of music is ideal?

There have been several studies done to determine which kinds of music aid in focus and concentration.

By and large, classical music is the way to go.

According to a particular study, “researchers found that listening to classical music had the greatest effect on improving visual attention.”

This doesn’t necessarily mean that you have to use classical music. It just means that classical is one of the best “go-to’s” for capturing viewers’ attention.

Here’s my suggestion.

Play some type of background music throughout the duration of most of your ads.

If classical music happens to fit your message, brand, theme, etc., that’s great—stick with that.

But if not, go with something you feel would be suitable for optimizing your video ad.

I would recommend experimenting with a few different options until you find the one that meshes with your content the best.

Conclusion

The way I see it, Facebook Video ads are a fairly cost-effective form of paid advertising.

I get the fact that most people aren’t exactly “dialed in” to make a purchase when using their Facebook accounts.

But I have experienced first hand the results that video ads can get when they’re used effectively.

And, of course, you don’t want to just throw something at the wall to see what sticks with this, or any other, form of paid advertising.

It’s all about getting a solid ROI and lowering your CPM.

These hacks are great little loopholes for doing just that and will lower your CPM by as much as 81%.

Do you have any other Facebook Video Ad hacks that have helped you reduce your costs?



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5 Smart Ways to Not Be Part of the $1.3 Trillion Student Loan Epidemic

You won’t be surprised to learn student loan debt is a bit of an epidemic in the U.S.

The average graduate last spring faced more than $37,000 in loans. Many can expect a nearly $300 monthly payment for 10 years.

A mountain of debt is probably not what you pictured when you imagined your life after college. You likely expected an exciting job, a couple of kids, a beautiful house and a devoted spouse, not to repay student loans for the foreseeable future.

Yet, here you are. Tied to a much-less-romantic kind of ball and chain.

If you’re ready to take control of your student loan debt and lighten that burden, here are five things you should start doing today.

1. Figure Out What You Owe

The first step to getting your debt under control is knowing what you owe.

Considering you often sign off on student loans as a teenager without a clear understanding of what they even are, we understand if you’re not 100% sure where to begin.

Credit Sesame will let you see how much money you owe and to whom (even if you’ve defaulted on loans). It’ll show your balance on both private and federal loans and offer tips to help reduce your debt and raise your credit score.

For a more detailed look at federal loans, visit studentaid.ed.gov to find out which loans you still owe money on, how much you owe, whom you owe it to and how you can repay.

2. Pay Off Your Highest-Interest Loans First

If you have several loans and have to choose among payments, focus on your those with the highest interest rates first.

They’ll cost you the most money over time, so get them off your plate as soon as you can.

You can also try to get a lower interest rate by refinancing.

Refinancing will generally mean replacing your laundry list of loans with one (or a few) loans that bring all of your student debt under one umbrella.

This could simplify your life with one monthly payment, instead of several. It may also lower your monthly payment, improve your interest rate and/or give you more time to pay.

Enter your info at Credible to find out what your new interest rate could be.

On average, Credible helps you find a new rate about two basis points lower than the existing interest rate on your federal loans.

It might seem like a small difference, but a lower interest rate can mean a lot of savings over time. It’s helping grad Ashley Williams save more than $18,000 in interest over the life of her loan!

3. Start Making Extra Money

You’ll probably also want to do more than just keep up with loan payments.

If you want to get out from under the thumb of debt, you’ll need to start earning more money.

Unfortunately, we can’t recommend any reliable ways to get rich quickly. But we can help you get started saving — and growing — your money, even if you don’t have a lot to start with.

One of our favorite apps for people brand-new to investing is Stash. It explains investing in terms you can understand (without an MBA) and takes the guesswork out of it by automating your investment. It curates and categorizes funds to help you meet your savings goals.

Stash charges $1 a month, but your first three months are free. You can start investing with as little as $5, and you’ll get another $5 just for clicking this link and signing up.

4. Learn Your Repayment Options

If you can’t afford your monthly payment on your federal loans, don’t sweat.

But don’t ignore it, either.

A lot of options can help you cut that payment down and let you continue to repay your loan without straining your budget.

Income-driven repayment plans and Pay As You Earn (PAYE) limit your monthly payments to a percentage of your income and extend the period you have to pay beyond the standard 10 years.

You can also apply for a Direct Consolidation Loan through the federal government. This is similar to refinancing, but it’s only for federal loans.

Consolidating your federal loans could get you a lower interest rate and more manageable monthly payment.

5. Apply for Deferment (But Only if You Need To)

If you can’t afford your monthly payment due to unemployment, economic hardship, military service or other Department of Education–approved factors, you could qualify for deferment.

During months of deferment, you won’t owe a monthly payment for your federal loans.

It’s a helpful option if you temporarily can’t afford your monthly payment. But be careful not to use it if you don’t absolutely need to. Your subsidized loans won’t accrue interest during months of deferment — but any other loans will.

If you don’t qualify for deferment, your lender may grant a forbearance to allow you to stop making payments or reduce your monthly payments for up to 12 months.

You’ll continue to accrue interest, but you can avoid default.

Your Turn: What are you doing to pay down your student loan debt faster?

Disclosure: Our friends stopped inviting us over because we were always digging for loose change between their couch cushions. We use affiliate links instead so we still get invited to a few parties.

Dana Sitar (@danasitar) is a senior writer at The Penny Hoarder. She’s written for Huffington Post, Entrepreneur.com, Writer’s Digest and more, attempting humor wherever it’s allowed (and sometimes where it’s not).

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Revisiting My Homemade Laundry Soap Recipe

One of the most popular articles I’ve ever written for The Simple Dollar is Making Your Own Laundry Detergent: A Detailed Visual Guide. In it, I very carefully described my recipe at the time for making homemade laundry soap.

In terms of cost-effectiveness, that recipe is amazing. It costs just a little under three cents per load and gets clothes quite clean. My homemade soap recipe cleans clothes at least comparatively well with Tide and other store brand detergents and soaps, and Tide is well over 20 cents per load and even store brand soaps and detergents cost at least eight cents per load.

We have a large family. If you figure that we’re doing one load of laundry per day on average around here, which isn’t too far off of the truth, that means that using homemade laundry soap is saving us about $62 per year over Tide and about $20 per year over store brand laundry soap.

My original recipe, however, was a bit of a convoluted affair. It involved grating bars of soap up in a box grater, boiling those soap flakes in water, mixing a big solution together in a five-gallon bucket, and keeping that bucket in the laundry room.

The truth? Most of those steps are unnecessary. In the last several years, I’ve improved the whole procedure quite a bit. Here’s what we do now.

These days, I have a small reusable plastic container with a lid that I keep sealed. The container holds several cups of powder and a tablespoon in our laundry room. Whenever that container is empty, I simply put in two cups of washing soda, one cup of borax, and two cups of soap flakes, then shake the container around real well. It takes maybe 30 seconds.

Each time I do a load of laundry, I scoop out a single roughly level tablespoon of this mix and add it to the load. That spoonful is two parts washing soda, two parts soap flakes, and one part borax, as noted above.

That mix lasts for about 80 loads. I have to spend 30 seconds making a new batch of it once every two months or so. I actually keep the borax, washing soda, and soap flakes in a shelf in the laundry room so that I can just mix it in there without going anywhere else.

The results are exactly the same as I got with the more complicated mix in my earlier post. It cleans everything pretty well, even taking mustard stains out of shirts. If I need to work on a tough stain, I’ll get a little bit of water and a tiny bit of this mix together to make a paste and rub it into the stain and it seems to work really well.

Okay, so where do you buy this stuff? I usually buy Arm & Hammer washing soda and 20 Mule Team borax at my local grocery store, which stocks these products in their cleaning section, just as I did in the previous post. I still shop at the Fareway depicted in that article, in fact.

The big change is that I no longer buy bars of soap. Instead, I spend just a little more and buy soap flakes, which appear to be of a store brand variety. I can get a one-pound bag of soap flakes for about $10, which lasts for a very long time. Soap flakes are deceptively light – it looks like you have a ton of them but they feel like they weigh almost nothing.

You can buy all of these ingredients on Amazon quite easily. Here’s comparable soap flakes, Arm & Hammer washing soda, and 20 Mule Team borax.

These are larger containers than I usually buy, but I’ll say this much – you’ll make a ton of soap from these. My back of the envelope estimation is that those ingredients combined would provide somewhere on the order of 500 to 600 loads of laundry, with some borax and likely some soap flakes left over. That means you’d be paying about four and a half cents per load and have some extra borax and soap flakes for the next time. (Remember, each load is using around a teaspoon of the contents of each container, and there are 48 teaspoons in a cup, so each load is using only a tiny amount of this stuff.)

For comparison’s sake, the best price I could find on Tide powder on Amazon is about 19 cents per load. Other brands can be found that are cheaper, but nothing gets down into the 4 cents per load range like this recipe.

So, what changed from the original recipe? Really, there are only two key changes.

First, I realized that I didn’t need to have liquid soap. I used to go through a process where I boiled the soap flakes and then mixed everything together to make a large amount of liquid laundry soap. This required a lot of extra effort, including having a giant five-gallon bucket in our laundry room.

I just skip all of that now. The reason is that the washing machine provides all of the water I need when the laundry begins to wash, so there’s no need to use a ton of water in making liquid laundry soap. I let the washing machine do the dissolving instead of me.

Instead, I just “mix” the powders by putting the amounts I need into a container with a lid and then just shake it for 30 seconds or so, tossing it around really thoroughly to get the powder mixed well. That provides all of the mixing I need. To my eye, only the soap flakes are visually distinct in the mix and it looks like they’re spread out pretty evenly, so I call it good enough and just use a teaspoon of this in each load.

Second, I realized that grating bars of soap was one of those “unnecessarily frugal” activities. Yes, buying a cheap bar of soap and grating it produces cheaper soap flakes than buying a bag of soap flakes. A bag of soap flakes costs about as much as four to five bars of cheap soap, which means that the bag of soap flakes is more expensive per pound. However, it’s not that much more expensive, especially when you consider the time spent having to grate five bars of soap. I’m quite willing to pay a couple of dollars extra to skip out on most of an hour of grating bars of soap.

Because of those two changes, I’ve eliminated most of the time commitment of my previous recipe. Now, I literally just put two cups of washing soda, two cups of soap flakes, and one cup of borax into a box, shake it, put the tablespoon in it, and sit it in the laundry room. Whenever I run a load, I just scoop out a tablespoon of this stuff and use it just like normal laundry soap.

This, to me, is frugal success. There’s almost no additional time compared to buying Tide at the store; instead of buying a new package at the store, I just mix together some stuff in thirty seconds in the laundry room. It’s arguably faster and, at worst, not much slower.

The best part? It’s way cheaper. I’m saving $60-$80 per year because of this change without expending any significant amount of time (I actually think I’m saving time, but I know it’s pretty close). My clothes still get perfectly clean, I’m buying in bulk and being far less wasteful with packaging, and it’s all so incredibly easy!

Give this recipe a shot. For the cost of a large container of normal laundry soap, you’ll have everything you need for several hundred loads of laundry. If it works for you, then you have enough for many, many loads. If you use it a bunch of times and decide that it’s not right for you, then you can easily switch back to normal detergent and use the ingredients for other home cleaning recipes (for example, there are dishwashing soap recipes that use these ingredients, too).

Good luck!

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15 Ways to Use Overripe Bananas (and Only 3 of Them Are Bread!)

Can Walmart Compete With Aldi’s Aggressive Pricing? It’s Certainly Trying

If you’re always looking for the cheapest groceries, here’s some news you should know: Walmart just launched a major price war against Aldi and other discount grocers.

In a renewed bid to lure discount shoppers, Walmart has dropped prices on an assortment of packaged goods in at least 1,200 stores across 11 Midwestern and Southeastern U.S. states, according to an exclusive article by Reuters.

The price cuts are taking effect in Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, North and South Carolina, and Virginia, according to Reuters.

The reduced prices, which are undergoing sort of a test run, are a response to increasing competition from Aldi, a discount grocery chain that has 1,500 stores in 34 states.

Aldi is cutting into Walmart’s market share. Walmart wants those customers back.

A Head-to-Head Price Comparison

To compare prices between the stores, Reuters did “spot checks” at competing Aldi and Walmart locations in five Iowa and Illinois cities.

At each store, Reuters noted the prices for a basket of 15 similar-sized items, including store-brand packages of milk, eggs, butter and chicken breasts, along with brand-name items like Crest toothpaste and 2-liter bottles of Coke.

The result: That basket of groceries cost 8% less at Walmart than at Aldi.

That was a big switch from recent estimates that Walmart’s groceries cost as much as 20% more than Aldi’s, according to Reuters.

It’s also a change from when The Penny Hoarder found that Aldi was cheaper than Walmart in this comparison last year.

“The competition at these stores is intense, with both competitors selling a dozen large eggs for less than a dollar,” Reuters reported. “A gallon of milk at some stores was priced at around $1.”

Indeed, Walmart and Aldi have been competing hot and heavy for the affection of bargain-seeking food shoppers.

With that in mind, your friends at The Penny Hoarder have been shopping at both stores for the past couple years to pick up some tips and tricks you can use at each store.

There’s the always-popular 8 Ways to Save at Walmart, as well as the useful 13 Secrets Every Walmart Shopper Needs to Know. Not to mention our post on what website to check before shopping at Walmart.

When it comes to its competition, we found 8 Ways to Save Money at Aldi, too.

It remains to be seen what happens with Walmart’s new price cuts. Reuters says: “Wal-Mart’s tests are aimed at finding the right price point across a range of products that will attract more shoppers, and then adjusting prices as needed.”

Your Turn: Do you shop at Walmart or Aldi? Or neither?

Mike Brassfield (mike@thepennyhoarder.comis a senior writer at The Penny Hoarder. He’s an unrepentant Aldi shopper.

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Are Girl Scout Cookies a Total Rip-off? Two Penny Hoarders Debate

Halifax slashes current account switching bonus, should you still move?

Halifax has reduced the cash incentive it offers to new customers switching to its current accounts.

Halifax has reduced the cash incentive it offers to new customers switching to its current accounts.

The bank, which had previously paid £100 to switchers, will now offer £75 in cash when you move your account to Halifax using the Current Account Switching Service.

The bonus is paid for people switching to its Reward Current Account or Ultimate Reward Account.

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TSB launches £10 monthly cashback for new current account users

Savers who take out TSB’s Classic Plus current account from today can earn £10 cashback each month until 30 June 2018 – on top of its 3% interest on up to £1,500.

Savers who take out TSB’s Classic Plus current account from today can earn £10 cashback each month until 30 June 2018 – on top of its 3% interest on up to £1,500. 

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New £1 coin to launch this month

While millions of us are still getting used to the new “non-vegetarian” plastic £5 notes, don’t forget that the £1 coin is next to receive a makeover.

While millions of us are still getting used to the new “non-vegetarian” plastic £5 notes, don’t forget that the £1 coin is next to receive a makeover.

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How Comprehensive Insurance Saved Me From a ‘Bad Gas’ Nightmare

On Jan, 6 of this year, something crazy happened to us that I’ll never forget. After finishing up a week in Puerto Rico for winter break, we were driving home to Noblesville, Ind., from Chicago O’Hare airport when all hell broke loose.

Our kids were watching movies in the back of the car when my husband stopped off at Paylow gas station in Merrillville, Ind., to fill up. He turned on the pump and got back in the car, but the numbers on the gas tank would barely budge. Where it normally pumps several gallons per minute, the gas was basically dripping into our tank. But, since it was less than five degrees outside and he didn’t want to stop again somewhere else, he finished pumping and we left the station.

Within five minutes of pulling onto the interstate, our car was breaking down on the side of the road. Unfortunately, we were between interstate exits by the time it completely conked out. Worse, we were miles from anything – let alone someone we could ask for help.

Our car became freezing cold in a hurry. We tried calling Allstate Motor Club for help (we’re members), but couldn’t get a human being on the phone. Since we were still two hours from home at this point, we didn’t know a soul who could pick us up or help in a reasonable amount of time.

By the time my oldest daughter started crying, I knew it was time to call for help. So, I called 911.

The county police picked us up off the side of the road, along with our suitcases from vacation, then dropped us off at a local Holiday Inn. While I was embarrassed to call 911 for this “non-emergency,” the friendly police officers said we did the right thing. Because the weather was so cold, we could have frozen to death. Plus, it was completely unsafe to be in a tiny car on the side of the road for too long – especially at night and with our kids.

Once we got to the hotel, we called a tow truck and had our Prius taken to the local Toyota dealership. A full $120 later, our car was at the dealership, but we were still stranded.

Fortunately, my brother came and picked up me and the kids the next morning. My husband, Greg, stayed behind to see what was up with the car. At this point, we had no idea what was wrong – other than our car had broken down and wouldn’t start.

Finding Out We Got ‘Bad Gas’

Since we didn’t have an appointment with the Toyota dealership, it took the entire day for them to inspect our car. But once they started digging in, it only took them a few minutes to figure out what was wrong – bad gas.

Unbeknownst to us, the gas we pumped at the Paylow station in Merrillville was contaminated. The Toyota dealership took samples of the gas and gave my husband the bad news.

At first, our repairs were limited to draining our tank and cleaning the guts of our car. But after that didn’t work, they found they had to replace the spark plugs as well. They did these repairs over the course of several days, which meant my husband needed a rental car, too. When all was said and done, we had paid over $750 to the Toyota dealership.

Trying to Get Help

By now, we were out a day of our lives, $750 in car repairs, $110 for an overnight stay at a roadside Holiday Inn, and $120 for towing. That’s almost $1,000 we paid out of pocket, right after Christmas, and through no fault of our own.

After we heard about the bad gas, we started calling the gas station in Merrillville. Of course, no one ever picked up. So, my husband stopped into the gas station in person to tell them about the issue.

When he told them about the problem, they said the oil company – Luke Oil in Merrillville – was to blame. They also acted completely indifferent to our troubles, which wasn’t surprising since my husband only talked to a cashier.

From there, my husband was wise enough to call the county’s Department of Weights and Measures to file a formal complaint. After speaking with a woman in the government office, they asked him to submit our evidence via email. So, that’s exactly what we did.

The next day, I called Luke Oil and left a message. After some back and forth, they could tell us that the gas station owner was to blame – not them. Apparently, a bunch of people who bought gas at Paylow that night had the same troubles – bad gas and breakdowns. But Luke Oil hadn’t delivered bad gas; as it turns out, Paylow gas station had some sort of crack in their underground tanks.

At that point, Luke Oil was more helpful than they had to be. Not only did they tell the gas station owner he needed to contact all the drivers who had issues, but they gave me his personal cell phone number. At that point, I figured I would file a claim with his insurance company and get reimbursed… eventually.

Unfortunately, it was all downhill from there. After I didn’t hear from the gas station owner for a few days, I called him. This guy was an absolute lunatic. He sounded drunk, and told me my car issues were my problem. He also said he didn’t have insurance, so he was going to file bankruptcy. Lastly, he accused me of trying to extort him. As he hung up, he screamed, “Suuuuuuuuuuuuuuuuue me!”

It was obvious I wasn’t going to get anywhere with him. He didn’t care about my predicament, how much I spent, or who was at fault. And, according to him, he didn’t have insurance and was filing bankruptcy anyway.

Frustrated, I called my insurance company – Allstate – to see what they had to say. And finally, I got some good news.

Comprehensive Car Insurance to the Rescue

Once I got on the phone with Allstate, my mind was put at ease. Not only did we have full coverage (including liability, collision, uninsured motorist coverage, and personal injury protection) on my husband’s car, but we had comprehensive coverage as well.

We all know that liability coverage pays for damage to personal property and bodily injury, while collision pays for damage to your own car. Uninsured motorist coverage pays up if you’re hit by someone who doesn’t have proper car insurance, and personal injury protection (PIP) pays for medical costs not covered elsewhere.

The comprehensive coverage we have is intended to cover anything else – things like hail, acts of vandalism, fire, riots, and flood. And, low and behold, Allstate was fairly sure our comprehensive policy covered “bad gas” as well. Since our comprehensive coverage was separate from our regular policy, it had a separate $50 deductible, too.

Once we got that information, we quickly filed a claim with Allstate. This entailed giving the agent our details and faxing copies of our hotel bill, tow-truck bill, and car repair bill. Since we asked the Toyota dealership to document the issues caused by the bad gasoline at length, we sent that paperwork along as well.

Within a week, Allstate called us back to say they accepted our claim. A few days later, we received a check for around $840 – the cost of our car repairs and tow bill minus our $50 deductible. While our hotel bill wasn’t covered in our claim, I was thrilled to get the bulk of our expenses back.

Lessons Learned From Our ‘Bad Gas’ Nightmare

While I had never heard of people getting bad gasoline before, I quickly learned this kind of thing is common. Apparently, oil companies occasionally run into a situation where the gas they deliver is contaminated with water or residue or some kind. Then there are instances like the one I ran into, where the gas station itself had a leak.

Either way, I learned a lot about this issue along the way – including how many things we did right. While I had no idea how to handle this issue at the time, a little voice in my head told me I should document everything. So our big “wins” here included:

  • We called the county’s official department of weights and measures to formally document the issue.
  • We contacted the gas company.
  • We had the Toyota dealership document the issue and save a gas sample for testing.
  • We saved all of our receipts.
  • We had an auto policy that includes comprehensive coverage with a $50 deductible.

The only real “mistake” we made was that we didn’t save our receipt from the gas station itself. We did document our gas purchase with our credit card bill, however. While our insurance company said they preferred the actual receipt, the credit card bill seemed to suffice.

Here’s the funny thing: When my husband stopped by the gas station one last time, it was completely shut down. A sign on the door said, “Closed for electrical problems,” and all the tanks were closed off. A smaller sign on one of the gas tanks said the station was closed until they could receive approval to reopen from the Dept. of Weights and Measures.

In the end, I wouldn’t have done anything differently. But at least I know now that this can happen, and what to do if it does. If you find yourself in a similar situation, my best advice is to save everything and write it all down. Document each step you take, and don’t back down. Lastly, if you don’t get anywhere with the gas station or oil company, call your insurance company for help.

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.

Related Articles:

Have you ever heard of this issue before? Has your car ever broken down because of old or contaminated gasoline? 

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Cost of death set to soar

The cost of dying is set to rocket following the government’s publication of its new probate charges.

In England and Wales, probate is the process of applying for the right to deal with a deceased person’s property, money and other possessions – known as their ‘estate’.

If a person has left a will, they will usually have appointed a will executor. This executor then has to apply for a ‘grant of probate’ from the probate registry.

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Unlimited energy tariff launches: but how does it stack up?

Households worried about racking up hefty energy bills can lock into a new deal that promises unlimited energy usage.

Households worried about racking up hefty energy bills can lock into a new deal that promises unlimited energy usage. 

The ‘Unlimited 12M’ tariff, which is available for dual fuel and electricity-only customers (excluding prepayment customers) until 5 March, is provided by Green Star Energy and only available from comparison website Comparethemarket.com.

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