MONDAYHandmade Holiday Bizarre Bazaar: Noon to 4 p.m., Silvery Moon Guest House, 6257 Route 209, Snydersville. Cost: $5 to $10. Get a picture with Santa, hear harp music, shop the Birds and the Bees Gallerie, with local art and craft. Watch dance performance, see what's new in the art studio. Taste some Turkish delight. Information: bit.ly/2zmOZBz.Toy Bingo: 1 p.m. Nov. 25 at Our Lady of Victory Roman Catholic Church, Cherry [...]
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الجمعة، 23 نوفمبر 2018
Now You Can Get Free Hard and Soft Skill Training From Facebook Learning
Great! Then it’s time to get a job.
Learn With Facebook, which the social media giant launched this month, offers free online training courses in hard and soft skills geared toward career development and digital marketing.
Lessons, which incorporate case studies and videos, include an eight-minute tutorial titled “Boost Your Resume” and a nine-minute “Unlock the Power of Digital Storytelling” tutorial.
And since learning doesn’t count if you don’t get credit for it, Facebook offers digital badges to add to your resume or profile. (If you’re wondering what digital badges are, check out this article that explains credentials.)
The career courses are Facebook’s latest attempt to pivot from its origins as a social media platform for cute kitten videos and your aunt’s questionable political posts.
The company launched Jobs on Facebook last year, which allows users to search for jobs in their area by industry and job type.
Additionally, Facebook has a tool for professional development community groups that allows members to request to be matched with mentors.
Tiffany Wendeln Connors is a staff writer at The Penny Hoarder. She covers benefits, invisible jobs and work-from-home opportunities. Read her bio here or catch her on Twitter @TiffanyWendeln.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.
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How to Nurture Your Leads with Thank You Pages
Saying “thank you” can go a long way.
For starters, it’s basic manners you learn at an early age. When someone does something for you, you thank them.
But it’s also a crucial inbound marketing strategy.
According to research, 68% of customers will leave a company if they don’t think it cares about them.
That’s why your website needs to have a thank-you page.
Website visitors will be redirected to your thank-you page after filling out a form on your site, e.g., opting into your email newsletter. Right now, if your thank-you page simply thanks the visitor and does nothing else, you’re missing out on a huge opportunity.
These landing pages can be used for much more, such as building brand awareness, getting customer feedback, or even increasing sales.
You just got a new lead. You’ve got to nurture that lead.
Converting leads into customers is a top priority for businesses in the coming year:
Sure, you’ll send them a confirmation email welcoming the lead to your email list, which will be the first of several messages in your drip campaign.
But for those to work, the person needs to check their email, open the message, consume the content, and then convert. You can’t assume it will always happen.
However, the thank-you page is right in front of their face, on the same screen, right after they performed an action.
If you design this page correctly, it will be extremely beneficial for your company.
If you have already recognized the importance of thanking your new leads, you’re on the right track. But this guide will elevate your thank-you pages and take your lead nurturing strategy to the next level. Here’s what you need to know.
Give your leads a reason to buy
Sometimes your new leads need a little bit more motivation to make a purchase.
Clearly, they’re already interested in your brand. Otherwise, they wouldn’t have navigated to your website and signed up to receive emails.
But when it comes to convincing them to buy something, you need to give them that added incentive to complete this process.
Think of your thank-you page as the checkout line at a retail store.
The consumer has already been sold on an action. They decided they’re ready to buy something or, in this instance, provide your company with their contact information.
In a retail store, certain items are strategically placed by the register to encourage people to buy. Likewise, you need to place something on your thank-you page that will encourage a sale.
Here’s an example from NatureBox:
As you can see, it offers new leads a 50% discount.
But the coupon code isn’t available to just anyone. To see this screen, the visitor had to provide the company with their contact information.
Giving these customers a chance to win a contest is how NatureBox is collecting email addresses in the first place. This is a great strategy for running a profitable giveaway.
Take a look at the top right corner of this page.
NatureBox also displays social sharing icons. The icons make it easy for people to share this content on social media, but I’ll talk more about this tactic in greater detail later.
Promote your top content
Another way to nurture your leads is by getting them more engaged with your brand.
Every website visitor is different. Some of these people might be more familiar with your company than others.
The best way for site visitors to learn more about your brand is by giving them access to your top performing content.
This could include:
- blog posts
- guides
- ebooks
- videos
- podcasts
There are certain metrics every marketing manager needs to track. You’ll use this information to determine which type of content you should be promoting on your thank-you page.
Here’s a great example from Optimizely:
As you can see, the three links at the bottom of the screenshot differ from each other.
If you put three different posts on the page, but the person isn’t interested in reading, they won’t click. Offering different options increases the chances of them being interested in at least one of the links you’re suggesting.
The content can also be related to what they signed up for.
Use the information you received from their contact info to segment them accordingly. Here’s what I mean.
Let’s say someone signs up to receive your newest blog posts delivered to their inbox, but another person signs up strictly to receive product updates and promotions.
You can promote different content on your thank-you page to each of these people.
The first person could be shown links to your blog posts, while the second person could be prompted to click a video demonstration of one of your newest products.
Establish social proof
The thank-you page is a great opportunity for you to showcase that your products and services actually work.
The best way to do this is with real success stories from your customers.
Check out how Infusionsoft accomplishes this on its thank-you page:
Put yourself in the shoes of your new leads for a minute here.
They just signed up to receive emails from your business, but they haven’t bought anything yet. Maybe they’re waiting to see what kind of value you’ll offer them in your emails.
Or, they might not be sold on your business just yet.
You can sit there all day, explaining through your own posts and videos how great your products and services are. But consumers aren’t stupid—they know that content is biased.
If you can put case studies, success stories, reviews, or customer testimonials on your thank-you page, you’ll show social proof of your product.
Your leads will recognize your business is legitimate, and it will increase the chances of them converting.
Drive ebook downloads
This idea connects to the topic of promoting your top content.
Offering a free ebook download is a nice incentive for the new lead to receive, especially if normally they would have to pay for the content.
Plus, now you’re killing two birds with one stone. You’re nurturing your leads while driving downloads for your ebook.
The free download link is well worth it if you can turn that lead into a customer.
Greenhouse uses this strategy on its thank-you page:
It offers two free ebook downloads here.
Plus, by doing this, you show your customers you appreciate them. Here’s what I mean.
All of us have gotten an insincere thank-you from someone. They’re saying thanks because they feel obligated.
But when someone is actually thankful, they might do you a favor to show you their appreciation.
Offering a free ebook download is a nice gesture that can potentially drive conversions.
Encourage social sharing
Give your leads a reason to share your content on social media.
I mentioned this earlier when I pointed out the social sharing icons on the NatureBox thank-you page.
This strategy will expand your reach, create brand exposure, and potentially generate even more leads.
But people may not be willing to share the fact that they just signed up to receive emails from a business. That’s not very exciting.
To be successful with this strategy, you need to understand why people share content on social media.
Find a way to tie what you’re doing to one of these factors.
For example, are you associated with any causes or charities? That’s a great way to use people’s emotions to drive sales.
Here’s something else to keep in mind.
Look at the types of content getting shared the most on social media:
Combine the reasons why people share content with the type of content that gets shared the most, and you will increase the chances of this strategy working.
For example, you could donate $1 to a specific charity every time someone signs up for your email newsletter.
Put social sharing icons on your thank-you page that will post as a picture when added to a new lead’s social media profile.
By asking your leads to share, you might encourage their friends to sign up as well.
Embed a video
Your brand needs to be producing original video content.
I like the idea of uploading all your videos to YouTube and then repurposing them across your other distribution channels.
Add them to social media, blog posts, and your emails. The thank-you page is another place where you can embed a video.
Video content drives conversions:
Furthermore, 64% of people are more likely to buy a product online after watching a video about it.
And 50% of business executives look for more information after watching a video, while 39% make a phone call. This is a great way to nurture your B2B leads.
Qualify your leads
Not all leads are qualified leads.
This means that some of your leads are more likely to become customers than others. You need to identify who those people are.
Ask them to fill out a quick survey on the thank-you page.
This additional information will help you qualify them accordingly.
For example, let’s say you have a payroll company. To qualify new leads on your thank-you page, your survey can ask questions such as:
- How many employees do you have?
- How often do you pay?
- Live checks or direct deposit?
- How soon do you want to make a change?
Then, you can score your leads accordingly based on the results.
Lead generation isn’t cheap.
It varies according to industry, company size, and revenue.
Here’s a graph that shows the average cost per lead based on these factors:
By using the survey method to qualify your leads on your thank-you page, you’ll be able to generate a higher ROI and increase your chances of getting more people to convert.
You can send your leads content that’s related to their responses.
Ask your leads to follow you on social media
Earlier I talked about getting your leads to share your content on social media. But that doesn’t mean they’ll follow you.
You need to make this process as easy as possible for them.
Include a link to your social media profiles directly on your thank-you page. Then simply ask for a follow.
This will make it much easier for them to follow you than going to those platforms separately, searching for your company.
According to Sprout Social, these are the top reasons why people follow brands on social media:
Once a new lead follows you on social media, they’ll see more of your content and promotions than they would if they only received your emails.
Consumers are 57.5% more likely to buy from brands they follow on social media.
More than 60% of consumers need to see something two to four times before they buy it. Social media makes it possible.
Leads will be exposed to your content on different channels:
- lead generation page
- thank-you page
- social media post
That’s four different times right there.
Social media is a great place for you to nurture your leads. But for this to work effectively, you need to make sure they’re following you.
Conclusion
Your leads should automatically be directed to your thank-you page after filling out forms on your website.
But you need to design your thank-you pages in a way that does more than just thank them.
Give your new leads a reason to become customers by offering them an incentive to buy.
Showcase your top content, such as free ebook downloads. Show social proof by featuring success stories, case studies, customer reviews, and testimonials.
Add a video to your thank-you page. Create a short survey to help improve lead scoring.
If you can get your leads to follow you on social media, they’ll be more likely to buy from you in the future.
Once you make these changes to your thank-you page, you’ll be able to effectively nurture your leads.
How is your business using thank-you pages to nurture new leads?
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My Grandparents Gifted Me $30K. I Have No Debt. I Don’t Know What to Do
I’ll admit it — I’m a little jealous. I, too, have always thought about what I could do with just a few thousand extra dollars. And now, here you are: staring at a check, afraid you’ll choose the wrong option.
But you need to deposit the check sooner rather than later. Otherwise, you’ll miss out on the power of compound interest. Let’s say you want to take some time to think about what to do with your windfall. If you put $30,000 in a high-yield savings account earning 1.9% APY (trust me, they exist), you’ll accrue an extra $570 in just one year.
Once you have the cash tucked away safely, it’s time to start thinking strategically. Consider meeting with a fee-only financial planner who can help you consider your long-term options. Look for a financial adviser who offers a la carte services or hourly rates, so you can focus on your most pressing issue: taking care of this new nest egg.
A financial planner won’t tell you how to spend your money, but they will help you figure out the best way to care for it while you’re deciding. If you choose to put that cash toward your retirement (which would be a very good option, I have to say), their recommendations will vary from their advice for planning a trip around the world or saving for a house.
Have you considered asking your grandparents if they have a preference for how you spend the money?
Years after my grandfather died, I learned that he had left money behind for each of his granddaughters’ weddings. My father passed it to me via a neatly written check, and I started chipping away at the total as I planned my wedding. When the engagement ended abruptly, I got most of my deposits back.
Then I was staring at that amount in my savings, and I was racked with guilt. I wasn’t getting married. I didn’t deserve this. But when I asked my father what to do with the money, we came to the agreement that I should put it toward my student loans. There was nothing fairy tale about making that payment, but it lifted a weight, and I knew it was a genuine family blessing.
You don’t need to feel guilty for receiving a generous gift. You may think you don’t need it because your finances are in order, but this gift gives you the opportunity to get ahead in a way that fits your goals and values. This is your chance to decide what you want and act with confidence. But you don’t have to figure it all out today.
Lisa Rowan is a personal finance expert and senior writer at The Penny Hoarder, and the voice behind Dear Penny. For more practical money tips, visit www.thepennyhoarder.com.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
The Penny Hoarder Promise: We provide accurate, reliable information. Here’s why you can trust us and how we make money.
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My Menu of “Solo” Meals
One of my core principles of personal finance is “if you’re doing something by yourself, do it as cheap as possible.” When I’m alone and not worried about anyone else’s needs or concerns, I go super cheap on almost everything. There’s no real reason to “treat” myself because I’ll probably do some form of that the next time I’m spending time with others. I’m usually just fueling up and preparing for the next thing on my calendar.
So, for clarity’s sake, most days I eat breakfast by myself and many days I eat lunch by myself. My children are in school and my wife is at work and I work from home, so those meals are definitely solo. About once a month, a confluence of schedules will result in me eating supper solo, too, and there’s usually a week during the year where my wife visits her sisters and my children visit the grandparents and I’m going solo, too.
My goal during those times is to eat super cheap while also being at least a little healthy. I usually have four or five options for each meal that I cycle endlessly that produces a meal for myself at a price that’s far less than a dollar. In fact, my usual cost target for a meal for myself is $0.50. If I’m spending more than that, I’m doing it wrong.
Here are some of the inexpensive meals that I eat when I’m going solo.
Breakfast
My goal with breakfast is usually to put a little bit of protein in my stomach, as it helps me feel more energetic and focused throughout the morning.
Fried egg on toast I’ll pull out a skillet, put a little bit of butter or oil in it, and once it’s melted over medium heat, I’ll crack an egg in there, put a bit of salt and pepper on it, cook it until the clear part has turned white, flip it over with a spatula when it’s easy to do so, cook it for another minute or so, and then put it on a piece of toast that was cooking in the toaster while I was doing that. I’ll sometimes sprinkle a little bit of cheese on top, too.
Scrambled eggs Usually, I do this when I have something I want to add to it, like some leftover chopped vegetables or leftover chopped mushrooms from a previous meal. I’ll just crack two or three eggs into a bowl, beat them with a fork until they’re pretty consistent, and add a bit of salt and pepper. Then, I’ll put a bit of butter in a skillet and heat it over medium heat until the butter is melted, then add the eggs. I let the eggs cook slowly, turning them over every once in a while, and then I add the vegetables when they’re just starting to firm up but the vegetables will still mix right in.
A bowl of oatmeal Usually, I do this in a slow cooker overnight and make enough for everyone to have a bowl at the start of the day. It’s easy – the evening beforehand, I just put 1 1/2 cups of steel cut oats, 5 cups of water, and whatever flavorings or sweeteners I want in there (usually some chopped up fruit and some sugar) and turn it on low and let it cook overnight. If I’m truly solo, I put 1/2 cup steel cut oats and 2 cups of water in a large microwave-safe bowl that I can cover (with whatever flavorings I want), mix it thoroughly, and microwave it covered for five minutes. I stir the oatmeal then microwave it again uncovered for five minutes. It’s usually pretty close to perfect.
A bowl of cereal with milk It’s as simple as can be. I usually will eat a bowl of store-brand oat circles with a little milk on it. Nothing fancy, nice and easy.
A couple pieces of fresh fruit This is my “quick” breakfast of choice. I usually have an apple and a banana and a big glass of water when I’m in a rush, as I can just grab them on the way to whatever it is that I’m doing.
A hard boiled egg (or two) If I’ve been planning in advance, I’ll have a bowl of hard-boiled eggs in the fridge, often peeled, so I can just grab one or two for breakfast. Hard boiling an egg is easy – just put some eggs in a pot, cover them with water, add a bit of salt, raise the water to a very low boil, then let the eggs boil for twelve minutes. Immediately remove them from the water and put them in a bowl of ice water for a bit, then you can either peel them or put them in the fridge to peel later.
Lunch / Dinner
My goal with lunch most days is convenience. I usually want something that I can prepare and eat quickly while being inexpensive and reasonably tasty. For dinner when I’m solo, I don’t mind a little more prep time. Here are some of the things I prepare for quick solo lunches and dinners.
Leftovers This is my default lunch most days. I’ll just eat the remnants of whatever we had for dinner the night before, which basically makes the meal free. Usually, I just heat it up in the same small microwave-safe container that I stored it in overnight.
Beans and rice Many weeks, we’ll make a large batch of rice and cook up a large batch of dried beans at the start of the week and store them in two containers in the fridge. I’ll just take a healthy scoop of each, coat it in hot sauce, and microwave it. If there happens to be some leftover chopped vegetables of some kind, I’ll mix those in, too.
Ramen with a hardboiled egg Ramen isn’t particularly healthy, but it sure is cheap and convenient. This is an “every once in a while” lunch for me. I’ll just cook the ramen by the package directions and while the noodles are cooking, I’ll take a hard boiled egg from the fridge (mentioned above) and slice it and put the slices right into the ramen. It’s a great quick lunch, though an irregular one.
Grilled cheese sandwich This might top fifty cents, but it’s pretty tasty. Just take two slices of bread, butter them on one side, then put one butter side down in a skillet over medium heat. Place some cheese of your choice on top, then put the other slice right on top with the butter side up. Let it cook for a bit, flip it, let it cook for a bit on the other side, and serve. Delicious. If the tomatoes are coming in from the garden, I’ll add a slice of tomato to the sandwich.
Peanut butter and banana sandwich Two slices of whole wheat bread. A bit of peanut butter on each. A sliced banana on the peanut butter. Press the two slices together – or eat them open faced. Delicious. Really filling, quite cheap, and reminds me of childhood.
Fruit smoothie Whenever I see frozen fruit on sale, I stock the freezer with it, and I use that frozen fruit for smoothies. I just toss some frozen fruit in a blender, add a little milk, and blend until it’s smooth. That’s it. I often have one of these for lunch, especially when I’m busy. I’ll sometimes add frozen green vegetables to it – usually broccoli – but I mostly use fruit and it overshadows the vegetables. This is often just a “lunch” thing – I typically wouldn’t have a fruit smoothie for dinner.
The Role of “Solo” Meals
It’s important to note here that these don’t make up my entire diet by any means. Rather, they’re just super inexpensive meals I prepare during meals when I happen to be eating alone while Sarah is working and the kids are at school or there’s some other unusual scheduling concern. These meals are all incredibly cheap, most are reasonably healthy, all are super quick to prepare, and they’re filling enough to suit my needs at the time.
Good luck!
The post My Menu of “Solo” Meals appeared first on The Simple Dollar.
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Is Small Business Saturday Good for Small Businesses?
Launched in 2010 after the Great Recession, Small Business Saturday (the day after Black Friday) has been growing in consumer awareness in America. But has it been a financial boon to small businesses?
Source Business & Money | HowStuffWorks https://ift.tt/2QfgI0B
Source Business & Money | HowStuffWorks https://ift.tt/2QfgI0B
Is Small Business Saturday Good for Small Businesses?
Launched in 2010 after the Great Recession, Small Business Saturday (the day after Black Friday) has been growing in consumer awareness in America. But has it been a financial boon to small businesses?
Source Business & Money | HowStuffWorks https://ift.tt/2QfgI0B
Source Business & Money | HowStuffWorks https://ift.tt/2QfgI0B
Holiday Shopping? Watch Out for This Costly Credit Card Trap
As the holiday season gets into full swing, so too do the credit card promotions from retail stores far and wide.
This is prime season for enticing shoppers to sign onto the dotted line for cards that offer a discount on your first purchase or a special 0% introductory APR — which to many cash-strapped consumers can sound like an ideal way to finance a holiday extravaganza.
The reality of these deferred-interest retail credit cards however, is that they may not be as helpful as they sound at first blush. In fact, in many cases, signing on for one can cost far more than expected if you’re not clear on how the deferred interest proposition works.
A recent study from WalletHub revealed as much. It found that 82% of people do not understand deferred interest. Perhaps even more telling, 62% of people surveyed think deferred interest should be illegal.
Why such strong sentiment about outlawing the practice? Maybe it’s because those who are clear about its pitfalls realize what a trap deferred interest can be.
Why Deferred Interest Cards Can Be a Dangerous Trap
As the WalletHub study explains, deferred interest offers typically mean that you pay no interest or a reduced rate for a period of time — but the setup allows for the possibility that a high, regular APR can retroactively be applied to your entire original purchase amount, compounded for months, as if the low introductory rate never existed.
Let’s state that again, just to be clear: Despite the 0% APR introductory offer, a much higher interest rate can be applied to your entire original purchase amount.
How can that happen? Paying one monthly bill late or owing even $1 when the promotional period expires can trigger that nasty deferred interest clause, which in turn activates high interest charges.
“Deferred interest is common with 0% store financing offers. And since many retailers don’t disclose deferred interest clearly enough, it can lead to some expensive post-holiday shopping season surprises,” writes Alina Comoreanu, senior researcher at WalletHub.
With that in mind, here are some tips and best practices when it comes to fielding the deferred interest offers that will likely be coming your way this holiday season.
The Best and Worst Deferred Interest Offers
The WalletHub study found that many retailers don’t offer deferred interest cards at all, including Target, Costco, Barnes & Noble, Kohl’s, and Ann Taylor, plus many others. But among the retailers that do tempt customers with deferred interest offers, some are more transparent than others. So if you must sign up for one of these cards, keep the following information in mind.
Pottery Barn and West Elm were the least transparent retailers when it comes to making clear to consumers how their deferred interest programs work. This is the third consecutive year these three retailers have topped the “naughty” list, while Zales joined their ranks this year.
Each of these retailers scored a zero in every single transparency category reviewed by WalletHub. The categories surveyed covered such things as how prominently a retailer posted information on its website about how interest is assessed from purchase date, the readability of that information, and the readability and location on the website of the credit card’s regular APR.
Retailers that did the best in each of these categories included Apple, Home Depot, Lowe’s, JCPenney, and Staples, among others.
Tips for Using a Deferred Interest Credit Card
If you’ve decided to take the risk and sign up for a deferred interest credit card, do yourself a favor and make note of a few best practices that can help see you through the experience more successfully.
Howard Dvorkin, a CPA and chairman of Debt.com, recommends creating an alert on your phone to remind you of when the introductory period ends.
“Here’s something I can almost guarantee: Anyone who has a store credit card also has a smartphone. And that smartphone has a calendar. And that calendar has alerts,” said Dvorkin. “So, set an alert for the end of the introductory offer and make sure to pay the thing off.”
Failing to pay off the entire balance before the intro period ends wipes out any savings you may have realized by signing up for the card in the first place, notes Dvorkin. “You’ll pay double or even triple those savings in your first month after the introductory offer expires,” he added.
Since even one late payment can trigger the higher APR, it’s smart to set monthly due-date reminders or automate your payments as well. And you should plan to pay more than the minimum payment required each month — enough to eliminate the balance entirely before the intro rate expires.
Finally, it’s important to understand your own behavior and habits, advises David Gafford of Shift Processing, a credit card processing company.
“I think the best people can do is really understand what type of person they are. If they don’t want to read the details or the fine print, then this type of credit card may not be for them,” he explained. “Because if they don’t understand what they’re getting into, they’ll be up a creek fast. These cards are very unforgiving.”
Better Ways to Finance Your Holiday Spending
Here’s a scenario that illustrates why you might want to consider safer options for financing your holiday spending.
Suppose you open a new credit card to finance a couple of big-ticket items from your Christmas list. And those items end up costing $1,000, an amount you plan to repay during the card’s 12-month, zero-interest introductory period.
But life happens to all of us, and unexpected expenses occur — especially around the hectic holidays. So, let’s say it takes you 13 months to pay back that $1,000, making payments of $77 a month.
If you had a normal 0% credit card (such as a good balance transfer card), you’d only pay about $1 and change in interest for that extra month’s balance, assuming an average 17% APR — because the higher interest rate would only apply to the balance remaining at the end of the 12-month introductory period. No biggie.
On a deferred interest credit card, however, you’d end up paying roughly 100 times more in interest — over $100 — because once Month 13 hits, the ordinary 17% APR would be applied retroactively to each month’s balance over the last year. As the Consumer Financial Protection Bureau notes, “If you don’t pay the entire balance off in 12 months, or if you are more than 60 days late in making a minimum payment, you will be charged interest for each month on the balance you owed in each of the 12 months.” Here’s what that would look like:
| Balance | Retroactive Interest Owed | |
| Month 1 | $1,000 | $14.17 |
| Month 2 | $923 | $13.57 |
| Month 3 | $846 | $12.43 |
| Month 4 | $769 | $11.30 |
| Month 5 | $692 | $10.17 |
| Month 6 | $615 | $9.04 |
| Month 7 | $538 | $7.91 |
| Month 8 | $461 | $6.78 |
| Month 9 | $384 | $5.64 |
| Month 10 | $307 | $4.51 |
| Month 11 | $230 | $3.38 |
| Month 12 | $153 | $2.25 |
| Month 13 | $76 | $1.12 |
| Total: | $102.27 |
Is it any wonder so many people think these cards ought to be illegal?
“Fortunately, there are better financing alternatives, in the form of regular 0% APR credit cards,” said WalletHub analyst Jill Gonzalez. “This means that you pay no interest on purchases for a certain number of months after opening the account. After the interest-free period ends, the card’s regular APR applies only to the remaining balance.”
Better yet, pay cash for your purchases, says Dvorkin, who advises sticking to a strict budget for the holidays.
“People must focus on what’s important. If they really can’t afford presents, then consider offering personal services as gifts such as dog walking, cleaning the house, or washing someone’s car,” he said.
“At end of the day people need to be very, very careful,” Dvorkin added. “When you go into these stores during the holidays, keep your head about you. Everything looks good. There’s tinsel everywhere. They’re playing the holiday music, they’re getting you into the holiday spirit and you kind of lose your senses, and when you go to check out, you’re pitched this credit card.”
Don’t get sucked in, Dvorkin said. “The best thing to do is make a list of who you want to buy presents for, what you want to buy, and what you want to spend, and that’s it. Nothing more.”
Mia Taylor is an award-winning journalist with more than two decades of experience. She has worked for some of the nation’s best-known news organizations, including the Atlanta Journal-Constitution and the San Diego Union-Tribune.
More by Mia Taylor:
- People Are Draining Their 401(k)s Before Retirement, and That’s a Big Mistake
- Public Service Loan Forgiveness: How to Qualify (and Why So Few People Do)
- Single Parent Finances: Six Tips for Financial Success When It’s All on You
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Are you owed a refund?
Here are five refunds you could be owed – and how to claim them
When you say the word “refund”, the first thing that comes to mind might be goods that aren’t up to scratch. But there are numerous quibble-free refunds thousands of people can easily claim. Some are worth hundreds of pounds – and all it takes is a few clicks or a phone call, as you can see below.
1 Overpaid energy bills
What is the refund for?
This year’s sweltering summer means people who pay for energy using monthly direct debit may be in credit with their energy provider. With the central heating firmly turned to the off position, and cold showers a lot more appealing than hot ones, it is likely you overpaid your energy supplier.
You can check if your energy account is in credit either by logging in to your online account or by phoning your provider.
How much could it be?
It depends how much you have overpaid – it could be hundreds of pounds. It is your money and you can ask for it back at any time. The other option is to leave the money where it is in case we have another freezing winter and you need to cover higher usage over the colder months – though your cash could be earning interest in a savings account.
How to claim?
Simply ask your supplier for your money back. Some suppliers, such as Ovo Energy, allow you to apply for a refund online. Otherwise, you may need to phone your supplier. The money will usually be returned to the same bank account your payments come out of. Bear in mind that most suppliers prefer you to leave a month’s worth of credit in your account.
2 Refund of lasting power of attorney fees
What is the refund for?
A lasting power of attorney (LPA) is a legal document that allows you (the ‘donor’) to nominate a trusted friend or relative (the ‘attorney’) to look after your affairs if you lose mental capacity. More than a million people who paid to register an LPA in England or Wales between 1 April 2013 and 31 March 2017 were overcharged and can apply for a partial refund. The government has set up a special team to deal with these refunds.
How much could it be?
How much you’ll get depends on when you paid the fee, but it will be between £34 and £54, plus 0.5% interest on top. There are two types of LPA: finance and property, and health and welfare. If you registered for both, you can claim a refund of up to £108 plus interest.
How to claim?
It should take about 10 minutes to make a claim on the government website (Gov.uk/power-of-attorney-refund). You’ll need the donor’s UK bank account number and sort code, and a copy of the LPA. Either the donor or attorney can make a claim but the refund will be paid to the donor. Alternatively, call the refunds helpline on 0300 456 0300.
3 Marriage allowance
What is the refund for?
The government introduced the marriage allowance in 2015 , allowing some married couples (or those in a civil partnership) to get a refund on some of the tax they have paid. It applies where one person in the relationship is a basic-rate taxpayer (earning between £11,851 and £46,350) and the other a non-taxpayer (earning below £11,850).
It allows the non-tax payer to transfer 10% of their personal allowance to their husband, wife or civil partner. This can reduce the basic-rate taxpayer’s tax bill by up to £238 a year (for 2018-19).
How much could it be?
You can backdate your claim to include any tax year since 5 April 2015 in which you were eligible for the marriage allowance. Changes to the personal allowance and tax bands mean the marriage allowance was worth different amounts in different years (£212 in 2015-16, £220 in 2016-17, £230 in 2017-18, and £238 this year).
If you make a claim for all the previous years since 2015, including the current tax year, you can claim back £900.
How to claim?
You can claim the marriage allowance online at Tax.service.gov.uk/marriage-allowance-application. You will need both your national insurance numbers and IDs. You can make a claim even if your partner has since died.
4 Flight delays and compensation
What is the refund for?
EU rule 261/2004 sets out how much compensation you are entitled to if your flight is delayed or cancelled.
Your flight must have been flying either to or from an EU airport, or one in Norway, Iceland or Switzerland, and landed three or more hours later than scheduled. The delay or cancellation must be deemed the fault of the airline – such as a technical or maintenance issue or crew issues.
How much could it be?
Compensation depends on the length of the delay and flight distance. It starts from €250 (about £223) for flights less than 1,500km and goes up to €600 (£536) for flights of more than 3,500km, delayed by at least four hours. Each member of a family or group can claim, so some families could claim back thousands of pounds.
You can claim for any delayed or cancelled flights going back to 2012 when a landmark ruling by the European Court of Justice clarified passengers’ entitlement to compensation.
If your train is over two hours late, you could get 100% back on a return ticket
How to claim?
Claims should be made directly to the airline in question. You’ll need the flight number and date, the names of the passengers and the reason for the delay. Flightstats.com shows how long a flight was delayed for, while Bott & Co (Bottonline.co.uk) is a no-win-no-fee solicitor specialising in flight delay compensation, which also offers free information and template letters. Rejected claims can be escalated to the AviationADR for alternative dispute resolution service (Aviationadr.org.uk) or otherwise to the UK Civil Aviation Authority (Caa.co.uk).
5 Delayed train journeys
What is the refund for?
Delay Repay is a national scheme that railway companies use to compensate passengers for train delays and cancellations. You are entitled to compensation for any delay or cancellation that causes you to arrive 15 minutes or more behind schedule, except when delays have been caused by planned engineering works.
How much could it be?
The scheme kicks in when one leg of a journey is at least 15 minutes late. If you bought a return ticket and one leg is two or more hours late, you can get a 100% refund. Refunds are calculated pro rata for season ticket holders.
How to claim?
You need to apply for compensation online or by post within 28 days of your delayed journey. You’ll need proof of travel such as a paper ticket or Key Smartcard. If you use Oyster pay-as-you-go or contactless, you’ll need a print-out showing where you touched in and out and the cost of your journey.
Emma Lunn writes on personal finance for publications including The Guardian, The Times and The Daily/Sunday Telegraph
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Guide to shopping for electronics on the grey market: do's, don'ts, and is it even legal?
Tempted to buy that latest iPhone in the US or a similar, cheaper model from China? Then read our guide to the pros and cons, so you don’t pay out for a dud deal or get stung by sky-high import taxes
If you fancy a high-spec smartphone for the price of a cheap Nokia, buying a device straight from China could be the answer. Websites such as The Solution Shop, GeekBuying and GearBest sell top-of-the-range gadgets at much cheaper prices than you can find in the UK. But is it safe to buy from these sites?
These websites – and plenty of sellers on eBay and Amazon – operate within the ‘grey market’.
The grey market allows consumers in the UK to buy products outside of the manufacturer’s normal distribution channels and at the lower prices typically paid overseas. Products may be from the same brands we see for sale in the UK, or from foreign companies without a presence in the UK. The grey market isn’t illegal and, in theory at least, the goods are genuine.
The grey market isn’t illegal and, in theory, goods are genuine
“One of the key advantages of buying grey market goods is obviously the lower prices, but another is availability of goods that consumers may not otherwise have access to, such as the large range of high-price-to-performance phones available from Chinese manufacturers at the moment,” says Ben Prater, founder of The Solution Shop.
Xiaomi is China’s largest smartphone company and sells high-spec phones, smartwatches, laptops and tablets at seemingly bargain prices – but not direct to UK consumers. Xiaomi’s Mi 8 has been described as an “iPhone X clone” in tech circles, but costs less than half the price. A Xiaomi Mi 8 (6GB + 128GB) costs £370 at The Solution Shop, while an iPhone X will set you back at least £999 if you buy it in the UK. Unlike most grey market sites, The Solution Shop pre-pays shipping costs and taxes.
If you buy from rival GearBest, being up to date on import rules is down to you. GearBest.com states: “The prices do not include import tax and duties, should your package become examined and deemed taxable by your local customs. Payment of these is the responsibility of the buyer.”
Whether any parcel from abroad will be picked up by UK customs is pot luck. Legally, UK residents buying something worth more than £135 from an overseas website should pay import duty of 2.5%, plus VAT of 20%. When your parcel arrives in the UK, you’ll be contacted by Royal Mail or the courier company explaining how to pay.
But it’s not just tax and customs you need to worry about when buying electricals from abroad. Will your purchase even work in the UK?
James Barron, mobile expert at Comparemymobile.com, says it’s vital to do your research.
“You need to check the device is compatible for UK use – from connectivity to the type of charger you will need. You also need to consider what happens if anything was to go wrong with the phone – would your warranty be valid?” he asks.
“You’ll need to check the device is designed for UK use”
“If you have aspirations for any kind of smart home, then you might want to look at what handset is compatible with the infrastructure you want to build to ensure you are future-proof, and the apps you rely on are available on the operating service,” he adds.
Arguably, while you might have heard of some of the popular Chinese brands, you are taking more of a risk if you buy a phone from a company you’ve never heard of. If it is an Android phone, you need to check which version of Android it runs and whether it will receive platform and security updates. Will you be able to get Google services such as Play Store on the device? Can you be sure dodgy firmware won’t be collecting your data?
Buying on the grey market doesn’t always mean buying foreign brands. In some cases, you can buy the same brands available in the UK, but at much cheaper prices. For example, the Nikon D810 Digital SLR costs £1,999 at Jessops but China-based AliExpress is selling the same camera for £1,431 (US$1,860) with free shipping. Buyers are responsible for VAT and customs charges – but even when you add on VAT at 20% and import duty at 2.5%, the AliExpress deal still works out £230 cheaper than Jessops.
But Pete Duncombe, commercial director at Jessops, warns there could be significant issues for any customers buying grey imports.
“Many manufacturers will not honour any form of warranty and, more often than not, there will be non-UK accessories in the box. We are also well aware of grey goods ‘going missing’ or being ‘damaged in transit’. In most cases, the overseas vendor will show little or no interest in helping resolve the situation,” he says.
Mr Duncombe’s fears are echoed by Helen Dewdney, founder of Thecomplainingcow.co.uk and author of How to Complain: The Essential Consumer Guide to Getting the Refunds, Redress and Results. She warns that consumers won’t be covered by the Consumer Rights Act or similar EU laws if they buy from a retailer outside the EU.
“Using a credit card for items over £100 may help as you could be able to get a refund through Section 75A of the Consumer Credit Act,” she says.
“Paying by PayPal will help for three months from purchase, but, in general, you are taking a risk. Even if the company will refund you, you will have to return the item at a cost to you, which would not be the case in the UK.”
Bargain-hunting eBay and Amazon fans should always compare local prices with those offered by overseas sellers, and factor in shipping costs. Although there are decent deals to be found, don’t assume these marketplaces will be cheaper, or accessible. For example, even though an Echo Plus speaker costs $149.99 (£115) on Amazon’s US site, versus the £139.99 price tag on Amazon.co.uk, it can’t be shipped to the UK.
Of course, holidaymakers can buy electronics in person and then bring them home. But don’t get carried away by a cheap price tag – you need to compare prices taking into account any sales tax (applicable in most US states), customs duty and VAT.
When the iPhone X was unveiled last year, a 256GB model cost £1,149 in the UK but only $1,149 – about £882 – in the US. Some news outlets claimed it was cheaper to fly to the US to buy the new model rather than buy it here. But once you add on various taxes, plus flight and accommodation costs, these claims don’t quite add up.
Don’t get excited by the price, as you’ll pay customs duty and VAT too
Sales tax varies from state to state but assuming you bought the iPhone in New Jersey, it would be 7%, pushing the US price up to $1,229 (£943).
You can import personal goods worth up to £390 into the UK without paying duty. But for anything costing between £390 and £630 you have to pay customs duty of 2.5% on its total value (not just the proportion above £390). If the item is worth more than £630, you’ll need to call the VAT, customs and excise helpline to find out the tax rate. On top of customs duty, you’ll also need to pay import VAT of 20%.
Assuming customs duty of 2.5%, these fees would add $259 (£199) to the cost of the US iPhone X, bringing the total cost to $1,488. That’s about £1,141, so just £8 cheaper than the UK price. This means it might be worth buying an iPhone if you happen to be on holiday in the US, but it’s not worth making a trip with the sole purpose of buying one.
There is always the option not to declare your purchase at UK customs but that’s risky – it’s illegal and there are harsh penalties for smuggling goods into the country.
“I chose a seller with plenty of good feedback”
Richi Jennings (pictured left), 52, is a freelance editor from Hampshire. In January 2018, he wanted to buy a phone that was part of the Android One program – but these phones weren’t available in the UK at the time. So he headed to eBay and bought a Xiaomi Mi A1 for £179, including delivery. The Mi A1 is a mid-to-high-end phone with 64GB storage, 4GB RAM and a full-HD LTPS screen.
“I didn’t want to worry about import duty uncertainties, so I chose a seller which had stock already in Europe – Ireland, if I remember correctly. Obviously, I chose a seller with good eBay reputation and plenty of feedback selling these items,” says Richi. “I also chose a vendor that confirmed it had the Hong Kong variant in stock – this has a wider selection of 4G LTE bands for compatibility with the UK and for when I roam in the US. Hong Kong versions usually come with a three-pin plug, so there is no need to use adapters.”
At the time, the most comparable phone on sale in the UK was the Google Pixel 2, which retailed at £629, so Richi saved about £450 buying from abroad. However, as a technology expert, he knew what to look for when buying on the grey market.
“There’s always added risk when straying beyond the high street. I wouldn’t venture into AliExpress or GearBest for a bigger-ticket item like this, especially if you’re likely to get burnt by extra customs fees. eBay is, in theory, a safer option, but as always with eBay, it’s your responsibility to research who it is you’re buying from. I’m fairly cynical about the eBay/PayPal buyer guarantee, but you should have a fallback of disputing the transaction with your credit card provider,” he says.
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