Sorry, just channeling my inner zombie. But if you’re in the mood to chop off something at the head, forget the fictional walkers and consider taking a whack at zombie debt.
Zombie debt is way less fun than it sounds but potentially scarier than the undead. It’s the debt — maybe a medical bill or store credit card you never paid — that’s so old you can’t be sued to pay it. But debt collectors buy up the debt and then try to trick or convince you to make a payment on it, which restarts the clock on the debt, allowing them to start hounding you again.
In the United States, 71 million adults — or about 31.6% — had debt in collections reported on their credit score in 2017, according to anUrban Institute study. Even at pennies on the dollar, that’s a lot of potential money for zombie debt collectors — aka debt scavengers — to scare out of unsuspecting victims.
And it’s not just that zombie debt is annoying. Negative items, like unpaid debts, must be removed from your credit report after seven years, according to theFair Credit Reporting Act. If your debt is resurrected, it could be reported to the credit bureaus again and wreck your credit score.
So use that ol’ noggin of yours to stop debt collectors in their tracks with these strategies to fight zombie debt — no machetes required.
How Zombie Debt Is Born
Debt begins its life when you don’t pay your bill — it doesn’t matter if it’s because you can’t or won’t.
After a debt is 180 days past due, it enters collections — meaning the original creditor can sell your debt to a collections agency to recover at least some payment for the bill. The agency will in turn contact you (often repeatedly) to collect as much of the debt as they can.
But debt is rarely sold once, paid off and buried. One collection agency might sell your debt to another and then the next agency will resell it. That can take awhile.
Zombie debt isn’t necessarily old debt — it could be one that you’ve already settled, one that was wiped out in a bankruptcy or one that was misidentified and belongs to someone else.
Depending on your state and type of debt, after three to six years without any payments or activity, a debt is considered past the statute of limitations, meaning you can’t be sued for it. But collectors may pay bargain-basement prices for debt that they know is old in the hopes of recovering even a small portion of the money.
Even if the debt is past the statute of limitations, collectors can still contact you, and if the collection agency can get you to make just a small payment, they can restart the clock on your debt.
And thus zombie debt is born.
How to Fend Off Zombie Debt Collectors in 3 Steps
If a debt collection agency starts calling you about a bill you don’t recognize, it’s important to develop a clear plan of attack to avoid paying money you don’t owe. Don’t be a victim: Here’s how to fight back.
1. Demand a Debt Validation Letter
As unpleasant as it might be, answering a debt collector’s call is the first step to getting zombie debt off your back.
Yes, it can be overwhelming and scary, but this is your chance to take control of the situation. Rather than letting it harass and intimidate you, demand that the collection agency send you adebt validation letter.
Pro Tip
If you do still owe on the debt and you want to pay it off, ask for a secure website where you can make your payment and keep the receipt as proof — just in case the debt is zombified later.
A debt validation letter is a legal document outlined in theFair Debt Collection Practices Act(FDCPA), a 1977 federal law that provides consumers with legal protection from abusive debt collection practices. Third-party debt collectors are required by law to send the letter to you upon request. They must include how much you owe, who you owe it to and what options you have for taking action.
Read the letter carefully for mistakes. By having the information in writing, you can begin your attack.
2. Send a Debt Verification Letter
They sound similar, but here’s the difference between debt validation and debt verification letters: A debt collector sends a validation letter saying what you owe, while you send a verification letter saying why you don’t.
By law, you have 30 days after receiving a debt validation letter from a collector to respond.
The key here is to address specifically what was in the debt validation letter — this isn’t the time to overshare financial info or try to explain your situation. If you’re not sure where to start, we have adebt verification letter templateyou can add to your zombie-fighting arsenal.
After you send the letter, the collection agency must cease collection activity until they mail you a verification of the debt information or a copy of a court judgment. You’ll then have the option to fight the case in court or set up a payment arrangement.
If you don’t get a response, there’s a good chance the debt collector was a scam artist.
But hold onto all your records in case another agency buys up the zombie debt and tries to pursue you again.
If you’ve done your due diligence to prove you’re not responsible for a debt, but the collections agency continues to hound you, it’s time to escalate the battle with the undead.
If you do indeed still owe the debt and cannot pay the amount owed, reach out to the collection agency to ask about a repayment plan. Bydealing with the debt collectordirectly, you could negotiate a lower amount since the agency didn’t pay the full amount for your debt anyways.
If the collection agency isn’t willing to deal or makes an offer that’s still beyond your means, consider reaching out tocredit counselor— check out the Financial Counseling Organization of America or the National Foundation for Credit Counseling (NFCC) for their directories of member organizations.
With some diligence, hard work and meticulous record keeping, you can bury that debt once and for all.
Tiffany Wendeln Connors is a staff writer/editor at The Penny Hoarder. Readher bio and other work here, then 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.
I arrived home after a long day at work to find two empty packages on my front stoop. The thermal sweatshirt that was supposed to be a Christmas gift for my dad? Gone. The pricy face cream I bought for myself? Gone. And the townhouse I was living in, which was on a residential street, didn’t have security cameras.
There were plenty of places to tuck the packages out of sight, but the delivery person was either too busy or had done so only to be foiled later by the thieves.
That was years ago. Now I can simplyinstall a smart lockon my front door and have Amazon or Walmart deliver items directly to my living room. Thieves can’t steal your packages if there’s nothing on your doormat to yoink.
But what if you’re trying to receive packages and deliveries without allowing our e-commerce big brothers to let themselves in on a regular basis?
6 Ways to Stop Porch Pirates Once and for All
In a 2017 report, insuranceQuotes estimated that25.9 million Americanshad a holiday package stolen from their front porch or doorstep that year. And across the United States,36% of consumershave reported having a package stolen at least once, at an average cost of $109.
Don’t want to be a part of that very sad group of people? Try one or more of these methods to deter package thieves when you’re doing your online holiday shopping.
1. Make Delivery Requests
Some online ordering systems allow you to make delivery requests, like putting the package in a secure area. Making a request doesn’t guarantee that it will be met, but you may be surprised at how attentive delivery people are when dropping off your goods. “Leave on basement steps” or “upstairs neighbor can sign” are simple instructions that can help ensure your package gets to you.
If you happen to run into your regular local USPS, UPS or FedEx carrier, you may be able to make requests in person. But keep in mind that your neighborhood delivery person may have the best intel on which bushes are ideal for concealing packages.
2. Work With a Neighbor
If you know your neighbors — come on, go meet your neighbors — you can work together to thwart package theft. If you have alternating or overlapping schedules, swiping a package off their stoop — for good, not evil — means you can make sure it gets into their hands after dinner or whenever they get home.
3. Get Packages Delivered to Your Workplace
Not every employer will welcome your holiday shipments with open arms, so check with your office manager to see if they’d mind signing for packages you don’t want to risk having delivered at home.
Hauling items home can be cumbersome later, but if you want eyes on a package ASAP, your workplace may be your best bet.
4. Pay for a Package Receipt Service
This isn’t the cheapest option, but it may be the most secure. Some businesses offer to receive packages for customers for a small fee.
I once lived around the corner from a dry cleaner that always had a line at the counter. Why so popular? Not only did it offer quick cleaning services, but you could pick up your dry cleaning and your packages in the same trip — and the hours were convenient, too.
5. Get Your Stuff Delivered to an Amazon Locker
It’s not quite as convenient as home delivery or the corner store, but if you’d rather have your Amazon package delivered to a secure location, add anAmazon Lockerlocation to your account.
Amazon will deliver the package to the locker and when it’s ready for pickup, you’ll receive an email with a six-digit code to pick up the package from the self-service kiosk.
Lockers are located in stores, apartment buildings and malls across the United States, which offers you convenient times to pick up packages on in the evenings or on weekends.
And if you’re a Prime member, you get to use the lockers for free.
6. Watch Your Tracking Info Like a Hawk
Ah, the beauty of technology. I can see the exact moment my package went from a warehouse plane to another warehouse and onto a truck. And I can see the moment it finally lands at my home. Tracking services may not prevent you from losing packages to theft, but the available tools can help you stay up to date on its path and estimated arrival so you can plan accordingly.
Frequently, you can sign up for text or email updates on your package’s journey, and if you miss a delivery you need to sign for, you can sometimes have the package rerouted to a shipping service center, like the UPS Store, so the delivery person doesn’t spend three days knocking on your door.
Pro Tip
If you have the Ring doorbell camera, sign up for reports on the Neighbors App, where you can share info about package thieves if they hit your area.
The postal service even offersInformed Delivery, which sends you images of small pieces of mail that are on their way to your mailbox that day.
If you’re willing to make a bigger investment, home security systems like the Ring can also let you monitor your front door — and the police department can use the footage to track down the porch pirates.
If the worst-case scenario happens, detailed tracking information and video can help make a case to your credit card company, whichmay reimburse youfor lost or stolen packages, or it could help you get a replacement item from the retailer.
Lisa Rowan is a former senior writer and producer at The Penny Hoarder.
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.
Buying holiday gifts for all your loved ones can add a bunch of financial stress to what’s supposed to be a joyous time of year.
The commercialism of the season encourages you to buy-buy-buy, meaning many of us overspend or even go into debt. Your gifts might put a smile on someone’s face — but at what cost?
Rethink some of your holiday shopping plans if you’re trying to survive Christmas on a budget. Here are seven tactics you can use to spend less.
7 Gift-Giving Strategies to Celebrate Christmas on a Budget
1. Shop with cash.
Embrace acash envelope budgetfor holiday spending. Figure out how much you feel comfortable spending on gifts this year, and withdraw that amount from your bank account. Then pay for gifts only with that cash. Once the money’s gone, that’s it. Leave your debit and credit cards at home if you think you’ll be tempted to swipe. You’ll be forced to be strategic about what you buy but thankful that you don’t go over budget.
2. Limit your Christmas list.
Be selective about who you buy presents for. Maybe you get something for your parents but skip giving gifts for your siblings. Let your loved ones know you’re doing Christmas on a budget this year. If you want to minimize some of the awkwardness of not having something to exchange, you could get a box of holiday cards, write a sweet personal message inside and tape a candy cane to the envelope.
3. Get in on group giving to whittle down your Christmas shopping list.
This can be done a few different ways. You can select one gift to give a group of people — like a family board game for your nieces and nephews — rather than buying everyone individual gifts. You could participate in a Secret Santa or similar gift exchange with a nominal spending threshold. Or you can get a group to chip in on a bigger purchase. For example, if you want to buy a gift for your child’s teacher, get a bunch of parents to contribute a few bucks to get something nice.
If you tend to overspend on your kids, take a more lean approach to giving this year. Instead of checking everything off your children’s wish lists, buy only four things — something they want, something they need, something to wear and something to read. Your kids will still get a variety of presents (and probably extra things from the grandparents, too) and you won’t be swimming in credit card charges come Dec. 25.
5. Shop second-hand.
A gift doesn’t have to be brand new to be new to the recipient. Think vintage clothing for your fashion-forward friend or gently-loved toys for your toddler who won’t even know they’re preowned. A recent survey by the second-hand selling app Mercari found three in five Americans said they’re comfortable receiving something second-hand as a gift. One thing about second-hand treasures: You don’t even have to buy anything. Regift unused items you have at home or check to see if there’s anything interesting up for grabs from your local Buy Nothing Group.
There’s a DIY Christmas gift (or DIY stocking stuffer) for every skill level. Add hot cocoa mix to Mason jars for an easy way to do Christmas on a budget. Knit a scarf if you’re an experienced crafter. Though you’ll still spend money on supplies, you’ll likely pay less than store-bought equivalents. And homemade presents show the thought you put into the gift — and it’s the thought that counts.
7. Rethink the “experience” gift.
Opting for experiences rather than material items has grown in popularity, but concert tickets or theme park passes are no easier on the wallet. Instead, reflect on your skill set to see what you could offer up family and friends that can’t be wrapped and tied with a bow. Redo your best friend’s resume or host a one-on-one cooking class for your brother.
Nicole Dow is a senior writer at The Penny Hoarder.
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.
Last year on Black Friday, I made this agreement with myself that I was going to utterly ignore it (aside from a bit of investigating that I felt I needed to do for an article or two that I was writing). I wasn’t going to buy anything. I wasn’t going to go out shopping. Rather, I was going to spend the day playing some games with my kids, working on a homemade gift for the holidays, and getting some reading in.
At three different times during the day, I found myself looking at Black Friday sales. I actually took note of it at the time, thinking it would make for an interesting post someday.
So, how did that happen?
The first time, I was reading social media and I noticed that a person I knew was posting about an item on deep discount, and I clicked through to check it out. I didn’t buy anything.
The second time, a friend texted me about three separate items that he thought I might be interested in. I clicked through the links without a second thought. I didn’t buy anything.
The third time, my wife and I were quietly talking about Christmas gifts for people and she started looking for a few items on her phone, with me looking over her shoulder. I believe my wife bought one item as a gift.
This isn’t to say that my goal was some kind of failure. During the day, I never went directly to seek out sales on anything, online or off. Rather, I came to those sales through secondary influences: social media, a friend sharing things he thought I’d like, my wife wanting to find good holiday gifts for our kids.
Social media got me to a Black Friday sale, even though I wasn’t intending to shop.
A friend got me to a Black Friday sale, even though I wasn’t intending to shop.
My wife did the same.
In each of those cases, I didn’t have any intent to do any shopping. I sat down to see what a few distant friends were up to on Thanksgiving and the day after, and yet that got rerouted into a shopping experience. I read a message from a friend, and that got routed into a shopping experience. Even sitting down with my wife on the couch for a bit, as innocuous as that was, got routed into a shopping experience.
The point is this: we’re often led in subtle and unintentional ways to situations where we can spend money on things we might want, and it happens more often than we realize. I didn’t really leave the house all day long last year aside from going on a rural walk, and I never picked up a device once with the intent of shopping online, but I wound up checking out at least three different retailers.
And, truth be told, I probably would have forgotten those visits had I not made note of them, and there’s a good chance I would have made at least one purchase if I wasn’t being extra aware of my choice to avoid Black Friday entirely.
They would have been forgotten visits and possibly forgotten purchases.
Here’s the take-home message from this: we’re often subtly influenced to buy, particularly in online settings, even when we don’t really intend to be shopping, and often those encounters are forgotten quickly thereafter, even if we make a small purchase. We’re tempted by products to the point that we’re actually in the store considering a purchase — and sometimes we even make a purchase – when we’re not planning to do so at all, and we often forget about it shortly thereafter.
What’s the harm in that? We’re often left with a little remnant of the temptation that took us there in the first place. We thought enough about the item to take action, to visit that online shop or to step into that convenience store, and even if we didn’t make a purchase, that doesn’t change the fact that we were tempted into going there.
Even if we have the best of intentions, we can still find ourselves falling into unintentional shopping, tempted into spending money when we’re not even really thinking about it. It’s easy to see how we can be tempted into it online, but it can happen when we’re anywhere.
We’re strolling by a vending machine and feel a bit thirsty so we slip a couple of dollars in the machine.
We have to stop for gas and need to go to the bathroom, but then we spy something when we’re in the convenience store and swipe our card to get it.
We’re going somewhere with a friend but they need to make a “quick stop” for something.
Those are instances of unintentional shopping, and whenever you’re shopping, particularly without any intention at all, there’s a chance that you’re spending money on something that you really don’t need or even want at all.
The easiest thing to do to avoid this is to simply avoid all instances of unintentional shopping, but that’s a lot easier said than done. If you’re on a road trip and you stop for gas, it’s pretty silly to not go into the gas station to use the bathroom because of a chance that you might buy something. It’s pretty nonsensical to never read a message from a friend because they might be sending you a link to an online store.
So, what can you do instead?
First, be aware of it. If you’re not intending to shop for anything right now, then that means if you go into a shop, it’s pretty silly to buy anything, even if it looks cool. That item you just saw would have never been on your radar at all if you hadn’t just unintentionally went shopping, so it’s completely unnecessary to buy it.
For me, I try to keep the purpose of what I’m doing in mind. If I’m browsing social media, I’m trying to keep up with some friends, not buy something. If I’m reading a text, I’m communicating with a friend, not buying something. If I’m going into a convenience store, I’m using the bathroom, not buying something. My intent is not to buy, so I’m not going to buy.
Second, just don’t click through. If someone sends you a link to an online store, don’t click through. If you see a link to an online store on social media, don’t click through. There’s no worthwhile reason to do so. Just keep moving along.
It’s actually a pretty useful habit to build. If you see a link on social media and it’s not truly important to you in any way, just don’t click it. The same is true if a friend sends you a link or if you get a link in your email. Just. Don’t. Click.
Third, don’t take the means to easily spend money with you. If you aren’t going with the intent to spend, don’t take money with you. Don’t take credit cards with you. Leave that stuff at home in a secure place.
That way, if you do find yourself unintentionally shopping, you don’t have the means with which to buy anything anyway, so it becomes a moot point.
Fourth, pare down your social media. Stop following companies and retailers. Stop following “influencers.” Instead, stick just to people you know well. Anything beyond that circle is just throwing junk at you anyway.
Over the last year or two, I’ve eliminated all but two social media platforms from my non-professional life and the things I’m following on there have been drastically cut back. This has resulted in a big cutback in terms of the time I spend on social media and certainly the number of links of all kinds I’ve clicked through and products I’ve been exposed to.
Finally, don’t share e-commerce links yourself. Don’t tell friends about big sales. Don’t share the latest products. Doing so encourages your friends to share things like that back with you.
The only time you should share things to buy with people is if they’re requesting it. Otherwise, keep those product suggestions to yourself. This gradually and subtly nudges your friends to do the same, meaning there are less opportunities for you to unintentionally shop online.
Unintentional shopping brings almost no value into your life while bringing a hefty financial cost along for the ride. You can’t completely stop it, but it’s pretty easy to slow it to a crawl, and your wallet will thank you.
Banks want you to pay attention to that dazzling low APR and ignore all the bank-speak.
Consider that credit card agreements average nearly 5,000 words. They require a reading level about two grades above that of the average American. Banks make a lot of money because most people will focus on the 1.9% introductory APR and ignore the other 5,000 words.
So I applaud your skepticism and urge you to look at any credit card offer through that “is this too good to be true?” lens.
With abalance transfer credit card, you transfer your debt from one or more cards onto a card with a low introductory rate, sometimes zero percent.Lots of people successfully use balance transfer cards to get out of debt faster and save on interest.
But by offering you a balance transfer card, your bank is trying to lure you away from your current card companies. You’re paying a lot of interest to those companies. Your bank wants the pleasure of charging you all that interest, and they’re willing to fight for it. So they give you a temporary low interest offer in hopes that you’ll still have debt when those nine months are up.
To determine whether you want to play this game, you’ll need to be on the lookout for a few things in all that banking mumbo-jumbo.
The first thing to look for is the fees. You’ll typically pay a fee of 3% to 5% of the amount you transfer. That means if the balances you’re transferring total $5,000 and you have a 3% fee, you’re starting with $5,150. Many balance transfer cards charge an annual fee on top of that.
Still, these are typically pretty straightforward. And considering that at the higher end, credit card APRs are often over 20%, you stand to save a lot of money on interest as long as the fees are reasonable.
Where banks really get sneaky is with all the APRs.
That 1.9% rate you mention probably only applies to the transferred balances. There’s probably a way higher APR that applies to any new purchases you charge to the card.
Also look for the regular APR, i.e., the interest you’ll be charged once those nine months are over. Many people find that the regular APR on their balance transfer card is a couple points higher than the APRs on their existing cards.
Many agreements also state that the bank can cancel your promotional APR if you make late payments or miss them altogether.
Because of all the baiting and switching surrounding APRs, I suggest pursuing a balance transfer card only if you can budget enough each month to wipe out your debt completely during the promo period. You also need to solemnly swear that you will not make additional purchases on this card.
If you do decide to go this route, I recommend shopping around before you take up this offer. Nine months is a relatively short promo period — many cards offer between 12 and 21 months, and a longer low-interest period gives you more breathing room to nix this debt. Bonus points if you can qualify for a zero-interest promotion.
But if you know that you won’t be able to pay off your debt during the introductory period, adebt consolidation loanmay be a better option. Sure, you’ll pay more than 1.9% interest, but you’ll get the simplicity of a fixed monthly payment and you won’t have to juggle multiple APRs.
Just remember that banks make a lot of money because people don’t know what they’re signing up for. Don’t be one of those people. Approach future credit cards and loans with the same scrutiny you’re bringing to this offer, and you’ll do just fine.
Robin Hartill is a senior editor at The Penny Hoarder and the voice behind Dear Penny. Send your questions about credit cards to AskPenny@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.
My husband owns an investment property worth around £200,000. Can he transfer it to me without paying stamp duty or capital gains tax?
Patrick ConnollyFri, 11/29/2019 - 00:54
From
JH/via email
A transfer of an asset between spouses, or civil partners is treated as a ‘no gain, no loss’ disposal. This means that your husband won’t have to pay CGT on his ‘disposal’ to you and you won’t have to pay stamp duty on your acquisition from him.
However, for CGT purposes, you will be deemed to have acquired the property at the same cost that your husband originally bought it for. This will be taken into account if you dispose of the property in the future when working out any potential CGT liability that you may have.
It is important to note that transfers between spouses are only treated in this way if the spouses are living together at some point during the tax year in which the transfer takes place.
Patrick Connoly, certified financial planner at Chase de Vere
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Account switching: challenger banks hot on the high street’s heels
Over six million people have switched their current account since 2013. So is it time you changed banks?
Stephen LittleFri, 11/29/2019 - 00:22
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Nationwide, HSBC, NatWest and Monzo attracted the most current account switchers between April and July this year, according to the latest data from Bacs, which administers the Current Account Switch Service.
Nationwide was the clear winner with 26,466 current account customers joining.
One reason may be its FlexDirect account, which offers 5% interest on balances up to £2,500. This offer lasts for one year and when it ends the rate drops to 1%. Agreed overdrafts are free for the first year but you’ll need to pay in at least £1,000 a month.
HSBC, which includes figures from its subsidiaries First Direct and M&S Bank, had a net increase of 15,782 current account customers.
The HSBC Advance Account has a generous switching bonus of £175, but you must pay in a minimum of £1,750 to keep it open.
It is also linked to a regular savings account, which pays an interest rate of 2.75%.
With the First Direct 1st Account you will get a £50 bonus if you switch. To qualify, you’ll need to transfer via the Current Account Switching Service, transfer your direct debits and deposit at least £1,000 in the first three months.
If you open an M&S Bank Current Account you will get a £100 M&S gift card plus an additional £80 after 12 months if you choose to switch.
NatWest had a total of 15,735 current account switchers between April and June, marking a reversal of fortune from last year. This is likely down to its switching bonus – £150 and 2% back on household bills. You have to pay in a minimum of £1,500 each month. If you want to take advantage of the switching bonus you will have to get in quick as the offer ends on 6 December.
Challenger banks are also proving to be increasingly popular with people looking to switch current accounts.
Monzo Bank had an increase of 13,453 people switching to its current account, while Starling Bank gained 6,686 new customers. Both banks offer the best rates for spending and cash withdrawals abroad, while Starling Bank offers 0.5% interest on current account balances.
Both also come with a slew of in-app third party financial products, although it is best to shop around before deciding to take advantage of them.
Halifax had the most customers leaving between April and June, with 12,058 people switching. It was followed by Barclays (10,988) and RBS (10,440).
Despite 8,110 customers leaving TSB, it offers the second highest paying current account, at 3%. You’ll need to pay in at least £500 a month, register for internet banking, and opt in for online bank statements and paperless correspondence to get this headline rate.
Featured product
Nationwide FlexDirect Current Account
This account comes with 5% interest on balances up to £2,500 and a free overdraft for the first year. Note, however, that the interest rate drops to just 1% after 12 months.
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How you can gift a games console now… or a cruise later
Imagine handing over a beautifully wrapped Christmas present to an excited child. Picture the delight on their face as they wrestle off the ribbon, rip off the paper only to reveal… an empty box
Rachel Rickard…Fri, 11/29/2019 - 00:08
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At this time of year lots of financial experts do the rounds telling us to spend less on presents and invest in our loved one’s futures instead.
I’ve already received emails suggesting investing in gold on behalf of family and friends rather than buying them jewellery, or saving money for a child’s university years rather than giving them presents they’ll likely discard by new year.
But even though many of us know that saving or investing for loved ones is a prudent thing to do, it is hard to do in practice.
It is hard to give up the joy on someone’s face as they open a gift you’ve bought them.
I am not seriously suggesting we all gift empty boxes containing scraps of paper saying ‘Happy Christmas! I’ve set up a pension for you!’ But even so, there are few young people who would act as grateful on hearing you’ve invested for them as upon handing them a wrapped gift.
It is also hard to give up something tangible for something abstract.
There is an old experiment that psychologists do to measure children’s self-restraint.
They tell young participants they can either have a marshmallow now, or two in an hour – and see which one they choose.
Many children struggle to find the self-restraint to opt for two later. But at least in this experiment they can comprehend and visualise what they will gain in the long term for the short-term sacrifice.
Gifting investments for the future does not have this advantage. It is the equivalent of giving up one marshmallow now for an unspecified number of marshmallows to be received in an uncertain amount of time later on.
So I’ve been thinking: what if we made the trade off more equal, by giving up something concrete for something else just as tangible?
I tried it out, and the results are stark. Instead of giving someone a games console this Christmas, you could pay for their rent and living costs for a month at university – or a luxury holiday in retirement.
This is calculated on the cost of a Nintendo Switch (cost around £299 with one game), and investing for a 13-year-old for 10 years in a Junior Isa (which would make around £440 at 4%),or in a pension to age 68 (which has the added benefit of tax relief from the government and would make around £3,230).
Similarly, you could buy a four-year-old a Juno My Baby Elephant (one of the most popular gifts for young children this year) for £89.99 – or give them £1,384 to spend in retirement if you put the cost in a pension instead.
I’m not saying we shouldn’t give presents at all – where would be the fun in that. But just holding a little back for later can make a huge difference to your recipient’s future. Fifty pounds becomes £100 when invested for 18 years (assuming returns above inflation of 4%). Imagine how this would build up if you did it every year.
You may not necessarily be around for them to thank you, but you can be sure they will be grateful for your foresight. Maybe true selflessness comes from giving up their gratitude.
And with the Scroogiest column I’ve ever written out of the way, it only remains for me to wish a merry Christmas to you all.
HSBC and Santander to refund millions to customers after breaking overdraft rules
The competition watchdog says both banks broke rules requiring them to contact customers before they go overdrawn
Stephen LittleFri, 11/29/2019 - 10:11
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HSBC and Santander have agreed to refund hundreds of thousands of customers after they broke bank overdraft rules.
The competition regulator, the Competition and Markets Authority (CMA), says that both banks broke a legal order that requires them to send text alerts to customers before they go into unauthorised overdrafts.
HSBC broke the rules twice and is refunding £8 million to 115,000 customers.
Santander broke the order six times and has agreed to issued a refund, but it has not yet worked out how many customers were affected or how much they will be paid.
The CMA says the breaches first occurred in February 2018. The refunds will cover all fees incurred by customers who went into unarranged overdrafts and did not receive a text alert.
Since 2018 banks have been required to send text messages to customers when they go overdrawn to help them avoid paying unnecessary charges.
HSBC says it will be contacting customers who incurred overdraft charges to refund them.
An HSBC spokesperson says: “We apologise to those customers who for different reasons did not receive an alert. We will continue contacting customers who incurred overdraft charges as a result of these issues to apologise and provide a refund.”
Santander says it “working to identify and refund all affected customers as quickly as possible”.
A spokesperson from Santander says: “We are very sorry that some customers in certain circumstances were not sent the required overdraft alerts. The introduction of these alerts is a move we welcomed and believe is a real support to customers.
“We have carried out a detailed review to understand why the errors happened and have taken steps to fix the issues.”
The CMA it is also directing HSBC and Santander to do an independent check of their compliance with the order between February 2018 and December 2019.
Earlier this year, Nationwide Building Society agreed to refund £6 million to its customers after it failed to send them correct text warnings.
Source Moneywise - 29 years of helping you with your finances https://ift.tt/2q5RoPy
Did you know that there are a TON of great Black Friday and Cyber Monday deals for home-based workers?! Yes, even the work-at-home realm is in on the holiday sales rush — which is an excellent opportunity for you to lay the groundwork or boost your work-at-home career this year and beyond. Here are 12 […]
You may be a veteran Black Friday shopper with the inside scoop on the greatest deals and strategies — but how much do you really know about the day itself?
For example, can you name which generation goes nuts on Black Friday? Or how Black Fridayreallygot its name?
Knowledge is power, so we’ve rounded up eight of the most interesting Black Friday facts and shared them below.
1. More Than 50% of Americans Shop on Black Friday
Sure, you knew Black Friday was popular, but did you know it wasthispopular? Last year,165 millionpeople shopped during Black Friday weekend (which lasts from Thanksgiving Day through Cyber Monday). That’s roughly half of all Americans.
Wondering how to stay sane amidst the hustle and bustle? Think ahead and develop a plan of attack — bonus: Strategizing can also help youavoid holiday debt.
2. Black Friday Can Be Deadly
You may have joked about toy rage and trampling before, but the scary, sad fact of the matter is people actually have died shopping on Black Friday.
In the past 12 years, 12 deaths and 117 injuries have been attributed to Black Friday,Black Friday Death Countreports.
If you’re nervous about battling it out in the stores, then Cyber Monday might be more your scene.
3. The Day Owes Its Name to Philly Cops
You probably heard “Black Friday” originated from an accounting term: the day retailers’ profits finally went into the black.
But, the name really came fromPhiladelphia copswho were frustrated with traffic and smog caused by the mass of shoppers. Retailers didn’t like the negative connotation, so they spread the accounting rumor.
4. The Average Shopper Spends More Than $300
Can you believe it? Shoppers spent an average of $313.29 on their Black Friday shopping last year, according to a survey from theNational Retail Federation.
Don’t let your holiday shopping get out of control: Create aholiday budgetbefore doing anything else.
5. Black Friday Might Not Be the Cheapest Day of the Year
Eek! You’ll find plenty of bargains on Black Friday, but don’t automatically assume everything is at its lowest price.
The cheapest day of the year may be later in the holiday shopping season. Before you buy, check out our comprehensive guide for thebest time to buy just about anything.
6. Millennials are the Biggest Black Friday Shoppers
Would you have guessed millennials are the generation most devoted to Black Friday? We wouldn’t have.
Technically, the group that spent the most were older millennials and younger Gen X-ers (35-44 years old), who spent an average of $413.05 last year.
That probably shouldn’t come as too great a surprise, since that’s also prime parenting age for younger children.
Consider a new, budget-friendly tradition this holiday season:the four-gift rule.
7. It’s the Busiest Day of the Year for Plumbers
It may no longer be the busiest day of the year for retailers, but Black Friday still reigns supreme for another industry: plumbing.
“Often, the case is that a house already has partially clogged drains that go unnoticed, until holiday guests arrive and overwhelm the system,” explainsRoto Rooter.
Want to earn money on Black Friday, instead of spending it? Advertise yourhandyman servicesin the weeks leading up to the holiday.
8. Most Shoppers Actually Stay Home
If you only go for the bargains — and not for the Black Friday experience — you might as well stay home and shop online.
Last year, 41.4 million shoppers said they bought exclusively online, compared to 34.7 million who said they patronized brick-and-mortar establishments only.
Susan Shain is a contributor to The Penny Hoarder.
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.
Thanksgiving, how do I love thee? Let me count the ways.
Actually, let me not — at least not entirely. There are far too many.
I love the crispness in the air (however subtle it may be down here in Florida) and the ubiquitous football games on every TV screen (even though I don’t care about, or even totally understand, the game).
I love the way the house swells and bustles with family members I haven’t seen in far too long (even though after a day or two, I’m ready to stop explaining the current events of my professional and romantic lives to people who, essentially, remain strangers for most of the rest of the year).
And, of course, I love the food: the ridiculous, magnificent spread of food we make way too much of, year after year.
It’s not like we don’t learn. We know there will be leftovers. In fact, they’re one of the best parts of Thanksgiving!
But even the most avid turkey sandwich enthusiast gets a little tired of them after a few days.
Of course,“I’m sick of it” is no excuse to throw away perfectly good food. Goodness knows we have enough of afood wasteproblem in this country already.
So before you’re tempted to toss the remains of your feast in the trash, check out these delicious and creative ways to reimagine your Thanksgiving leftovers.
30 Inspired Ways to Repurpose Your Thanksgiving Leftovers
From classics like soup to surprisers like nachos, you’re sure to find something to reignite your holiday appetite.
Although many of these dishes contain more than one traditional Thanksgiving ingredient, we’ve organized them by their main componentso you can easily find a recipe that fits your unique leftovers situation.
That said, some of them look so good, you might want to make Thanksgiving dinner all over again…
Turkey
The main event is also the one most likely to leave a lot behind — no matter how insistent mom is that each guest take some home.
Here’s how to transform that pile of turkey meat into a delicious new dish.
1. Turkey Salad
The day after Thanksgiving, a big, hearty meal might be the last thing on your mind.
Lighten up your menu by making that leftover turkey into a salad — either the creamy, mayo-based kind you serve on bread, or the kind with actual lettuce.
Thiscranberry pecanversion from Carrie’s Experimental Kitchen looks lovely, andSelf Proclaimed Foodie’s Krissy substitutes Greek yogurt instead of (or in addition to!) mayonnaise.
2. Turkey Frittata
What’s eggy, delicious and perfectly appropriate for breakfast, lunch or dinner?
If your answer was frittata, you speak my language — and if it wasn’t, prepare to learn about your new favorite food.
Jackie atDomestic Fitsoffers a recipe that’ll use up your leftover turkey and rolls in a snap, and Yasmin Fahr suggests dipping herfrittatain leftover cranberry sauce mixed with a little bit of dijon mustard. (Basically, she’s a genius.)
But just like an omelette, the possibilities are endless. Just crack some eggs and put on your thinking cap!
3. Leftover Thanksgiving Nachos
Now here’s a dish I’d never have thought up on my own.
Food Network offers for your consideration this appetizing tray ofThanksgiving leftovers-laden nachos, including turkey, roasted Brussels sprouts and butternut squash.
It even uses up the last of that can of French-fried onions you put on your green bean casserole.
4. Turkey Tetrazzini
What’s a better mate for your leftover bird than mayonnaise?
Try a creamy, cheesy mushroom sauce — complete with spaghetti.
Tetrazzini, a classic American pasta dish, works well with all kinds of poultry and fish, and turkey is no exception. Plus,The Pioneer Woman’s version calls foran entire blockof cream cheese.
Give. Me. That.
5. Turkey Milanese
Thisfancy-sounding dishby Bobby Flay actually looks pretty darn easy to put together.
And if you skip the pomegranate molasses, you probably already have most of these ingredients in your pantry.
6. Turkey Pizza
Sound unconventional? Sure — but the best part about making pizza at home is going beyond your local joint’s tired repertoire.
If you’re still unconvinced, check outReadySetEat’s artichoke turkey pizza. Just grab a premade crust and add some diced tomatoes, canned artichokes and olives, and two types of cheese (because, yes).
7. Turkey Enchiladas
Repurpose an American classic into a Mexican dish that way predates the birth of our country.
There are lots of recipes out there, but former senior editor Heather van der Hoop shares her father’s time-honored version, which the family makes year after year.
Here’s what you’ll need:
1.5 onions
2 cloves garlic
4 cups cooked turkey, shredded
8 tablespoons mild chili powder
2 fresh jalapenos
1 cup smoked barbecue sauce
1 can tomato sauce
1 teaspoon each cumin, oregano and sugar
3 cups of chicken broth (or your own homemade turkey stock; see item #13 on this list!)
1 cup half-and-half
2 tablespoons of cornstarch dissolved in 4 tablespoons half-and-half
1 cup shredded monterey jack or cheddar cheese
12 tortillas
salt and pepper
cooking oil (such as olive)
frying oil (such as canola)
sour cream
green onions
First, create a delicious homemade enchilada sauce by pureeing the mild chili powder, fresh jalapenos, barbecue sauce, one quartered onion, one clove of garlic, the can of tomato sauce, the cumin, oregano and sugar, a teaspoon of salt, an eighth of a teaspoon of pepper and two tablespoons of cooking oil.
Fry the mixture up in hot oil for about five minutes, stirring constantly.
Then add the broth, a cup of half-and-half, plus the two tablespoons of cornstarch dissolved in an additional 4 tablespoons of half and half. Simmer for two minutes.
Then, saute the remaining half onion and clove of garlic, diced finely, in hot oil. Add the shredded turkey, brown slightly, and stir in sauce (reserving some) and salt and pepper to taste. Heat, and keep warm.
Fry the 12 tortillas quickly in hot oil. Drain and keep them warm in a casserole dish. Dip the tortillas in heated sauce, put a strip of filling across each, and roll tightly. Arrange side-by-side in pan, sprinkle with cheese and heat in a 350 degree oven for 10 minutes.
Spoon heated sauce over enchiladas and serve with sour cream and chopped green onions. Muy bien!
8. Turkey Chili
What better way to weather the cold winter months than with a hearty chili?
And since you’ve likely got more turkey than you know what to do with, this lightened-up version fromAmbitious Kitchenis a perfect fit.
So, let’s assess the leftovers situation. You’ve likely got the following items at your disposal:
Delicious, tender meat
Perfectly paired gravy
A crunchy, exquisitely carb-laden stuffing or dressing
Mashed potatoes
Obviously, you need to put all those things together in one dish with mashed potatoes on top.
Although it’s called “shepherd’s” pie because it traditionally comes with lamb, this dish — poulterer’s pie? — is as simple and cost-effective as it is tasty. You don’t have to use any ingredients other than the leftovers themselves.
TPH editor Caitlin Constantine made individual servings with her Thanksgiving leftovers “by layering turkey and stuffing and gravy in ramekins, then putting mashed potatoes on top and baking them until the taters were golden.” Um, yum.
And if you want a full-sized pie, check outMartha Stewart’s recipe, which sweetens the deal with leftover cranberry sauce and glazed carrots.
Seriously, how lame does that sandwich sound now?
10. Turkey Pot Pie
Got a leftover pie crust or two… or enough butter to pump out a few more?
You could make aperfect turkey pot pie, crammed full of all your favorite fixings.This one, for example, will use up your leftover green bean casserole, too.
Want something a bit more handheld?
Check out this recipe for“pocket” pies, stuffed with cranberry sauce, sweet and mashed potatoes, stuffing and, of course, turkey. Make them ahead of time and pop ‘em in the toaster oven to bring your kids a fresh Thanksgiving bite for lunch every day this weekend!
11. Turkey Quesadillas
I mean, if you take literally anything and add cheese, you pretty much can’t go wrong.
This onecalls for brie and cranberry chutney, and I am officially drooling on my desk.
12. Thanksgiving Leftover Casserole
Don’t overlook this time-honored classic; it earned that status for a reason! Casseroles are cheap, filling and delicious, not to mention a great way to get those leftovers into hungry tummies.
There are tons of ways to make your Thanksgiving leftovers into a casserole, butthis recipelooks particularly good — and calls for canned soups and frozen peas, which you probably already have at your disposal.
13. So Many Delicious Winter Soups
First things first:If you’re not making fresh turkey stock with that picked-clean carcass, you’re doing it wrong.
Depending on its eventual use, turkey stock recipes vary… but thebasic recipeis just that: basic.
Throw some root veggies, spices and what’s left of the bird in a pot, cover with water and simmer as long as you can stand it — it’s going to smell incredible. (This recipesays two to three hours, but I’ve gone as long as six, adding extra water as needed).
And check out Pinch of Yum’sEasy Turkey Pho, which calls for savory fish sauce and sweet spices like cinnamon and cloves. (Yummy and also smart: You totally bought extras of those spices for all that holiday baking, right? Time to use ‘em up before they lose their flavor!)
14. OK, Fine, Turkey Sandwiches
I get it. Some things are traditional for a reason.
But after your obligatory Wonder-bread-and-Hellman’s version, consider elevating your turkey sandwich game with the following creative recipes.
Food Network chef Tyler Florence’sturkey sandwichcalls for apple butter and brie (swoon) — and I have a hunch that fresh-carved turkey breast will substitute for deli slices just fine.
Mashed Potatoes
In the category of foods that make you go, “I made too much of this and I’m not sorry,” mashed potatoes are second only to the turkey itself.
And although they’re just as yummy reheated and piled up with gravy the next day, here are some more creative options to play with.
15. Potato Pancakes
Potato pancakes might already be the perfect Penny Hoarder food.
They’re delicious, filling, versatile and, of course, inexpensive — especially when you have a ton of leftover mashed potatoes to use up.
Food Network Chef Giada De Laurentiis get eggs and parmesan involved in her “eggs in purgatory” dish.
Or, you could experiment with throwing additional ingredients right into the mix before cooking.
Kelly, who blogs atJust a Taste, wisely suggests cheddar cheese and scallions. But even if you just eat ‘em plain, trust me: You’re gonna have a happy belly.
16. Mashed Potato Soup
Yes, more soup. Come on, itisthe perfect winter food, right?
Bonus: Skip the chicken broth and sub in that delicious turkey stock you made.
17. Mashed Potato Muffins
Who knew that if you add an egg to mashed potatoes, they’ll bake into fluffy, delicious muffins?
Now promise to use your newfound knowledge for good. Just a Taste’s Kelly offers thiscrazy-simple recipe for mashed potato muffins, or try Faith’s slightly more involved recipe for mashed potato “puffs,” available atThe Kitchn.
By the way, when I say “involved,” I mean “there is a lot of cheese and bacon in it.” So it’s definitely the good kind of involved.
18. Croquettes
Want a quick and easy way to use up your turkey meat, mashed potatoes and leftover cranberry sauce all in one go?
Check out Martha Stewart’s recipe forturkey croquettes. They’re deep-fried, so we’re betting you can substitute more cost-effective dried herbs for fresh. Don’t worry, no one will tell Martha.
Already used up your turkey in one of the scrumptious recipes above?John Torode’s “bubble and squeak” croquettescall for bacon, turnips and cabbage for a total repackaging of a Thanksgiving fave.
19. Gluten-Free Cake
Bet you didn’t know mashed potatoes could have a place on the dessert table.
Thislemon drizzle cakeditches flour in favor of ground almonds and — you guessed it — mashed potatoes to stay fluffy and flavorful, even though it’s gluten-free.
Told you we were gonna get creative.
Stuffing
It’s kind of a rarity to have any of this left, at least in my house.
That said, if you do have leftover stuffing, you’re in for a treat.
20. Fried Stuffing Bites
As soon as I sawthis recipe, I knew I was in trouble.
I know everyone says this, but my mom’s stuffing is the actual best in the world. As proof, I offer the fact that it includes an entire pound of hot breakfast sausage and a full loaf of slightly-stale white bread.
Basically, there’s no way I’m getting through the holidays without deep-frying bites of those babies and dredging them through cranberry sauce.
Thanks, Sunny Anderson— but for the sake of me still fitting into anything I own come January, please stop writing recipes. (But not really.)
21. Stuffing-Stuffed Mushrooms
Stuffing inception: Way more delicious than the movie, even though there’s less Leonardo DiCaprio.
ThisFood Network recipeis super-simple and looks crazy tasty. Do yourself a favor and spring for fresh parmesan — the stuff in the green cardboard tube has no place on a dish this good-looking.
Cranberry Sauce
It’s not often you get to have what’s basically dessert on your actual dinner plate.
And I know it’s one of my favorite Thanksgiving elements: sweet but tangy and a perfect compliment to that overzealous mound of other savory dishes.
But shockingly, many people eat only a tiny bit of cranberry sauce, or consider it merely obligatory.
Which is maybe lucky for you, considering these recipes for its leftovers.
22. Cranberry Upside-Down Cake
Last winter, I made a cranberry-pecan upside-down cake and took it to the hotel where my parents were staying in town.
We ended up sharing it with three or four people at the hotel bar, whose holiday spirit — and smiles — grew with each ensuing bite.
I can’t find the recipe I used (drats!), butthis versionfrom Baked In’s Julie looks, admittedly, way better than mine did. Just substitute your sauce for the fresh cranberries it calls for — or use that leftover bag that didn’t make it to your table in the first place.
23. Cranberry Tartlets
Calling for little more than dough, an egg and some sugar, thesecranberry tartletsare as elegant-looking as they are delicious, and make a great relief from heavier, custard-based desserts like pumpkin pie.
24. Cranberry Pancakes
Thanksgiving leftovers for breakfast doesn’t have to mean hash — not that it’s a bad option!
Consider spooning your cranberry sauce intopancake batterfor a sweet breakfast that might become your new favorite Friday-after-Thanksgiving tradition.
25. Cranberry Muffins
Want to transform that cranberry sauce into next week’s breakfast for the whole family?
Whip up a batch of muffins!This recipefrom Kitchen Treaty’s Kare looks delectable, as does Wes Martin’scranberry-carrotversion. And hey, you’ll get a serving of fruitsandvegetables in each one!
Green Bean Casserole
Honestly, we didn’t find a whole lot of ways to repurpose this one — probably because it’s so darn good just reheated and eaten as-is.
But aside from spooning it onto salads (or simply into your mouth) try this easy way to use up your green bean casserole.
26. Green Bean Quiche
Thisquichehas nine ingredients, one of which is your leftover green bean casserole — and two of which are cheese.
That’s the kind of math I’m happy to do, English major or no.
Sweet Potatoes
Whether you sweeten your dinner with candied yams or opt for a savory dish, this spud probably has a place at your Thanksgiving table.
Here’s what to do with the leftovers.
27. Breakfast Hash
This suggestion comes straight from our CEO, Kyle Taylor.
“I always make a breakfast hash with leftover sweet potatoes, turkey and poached eggs,” he wrote in a Slack message. I always knew that man was brilliant.
I’m sure any hash with those ingredients would come out spectacularly, even if you just threw everything at the pan.
But if you’re looking for a more structured recipe to follow, consider this version fromJan’s Sushi Bar, which incorporates kale and bacon fat (yum), orEatingWell’s lightened-up hash, which brings in an apple to balance the mix.
28. Sweet Potato Biscuits
Want a slightly sweetened roll to go with your Saturday dinner, once all the Thanksgiving crescents have been eaten up?
Try out Angela’ssweet potato biscuits, courtesy of Spinach Tiger — and be sure to click through to her original recipe forcandied sweet potatoes, too. I know I’ll be trying that recipe for my next big holiday meal!
Transforming your yams into a sweet potato pie is pretty much as simple as adding crust — and some evaporated milk or eggs to get the pie’s texture right.
TryTaste of Home’s version, complete with pecans, or Angela’s atSpinach Tiger. (Her recipes look so good, we had to include her twice!)
30. Sweet Potato Cake
Here’s one more way to make those sweet potatoes even sweeter: Transform them into cake!
This recipelooks reminiscent of good, homemade gingerbread. Be sure to adjust the amount of sugar you add to the mix depending on how much sweetness is already in your yams!
Jamie Cattanach is a contributing writer whose writing has also been featured at The Write Life, Word Riot, Nashville Review and elsewhere. Find @JamieCattanach on Twitter to wave hello.
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.
