39 Brilliant Ways to Earn More Points and Cash Back From Your Rewards Credit Cards

Two months after I got my Citi ThankYou Premier card, I used the points to pay for two plane tickets to Colorado and a car rental. I earned about 5,000 points from purchases, but most of the $675 reward was from the 50,000-point sign-up bonus.

The catch: You have to spend $3,000 within three months to get the bonus. That can be difficult, even if you use the card every day.

Plus, what if you also have other cards you want to use?

For example, you might want to keep using your Discover Card for the 5% cash-back bonus categories. You don’t want to pass up the 5% cash back you get at office supply stores with your Chase Ink Cash card, either.

Plus, you might only have a few weeks left to hit the sign-up bonus spending requirement for another card — I had three with deadlines.

How do you get all those points and cash back, and still meet your spending requirements for sign-up bonuses?

These 39 strategies to get more points and cash back include everything from using a credit cards to pay rent and income taxes to creating points with “manufactured spending.”

1. Use the Right Card

The simplest way to earn points and cash back is using credit cards to pay for everything.

But be sure to use the right card for each purchase to maximize what you earn.

For example, if you have an American Express Blue Cash Everyday® Card (I just got mine), you get 3% cash back in supermarkets. If another card pays double or triple points at gas stations, fill your tank with it.

Label your cards with stickers to keep track of what to use where.

2. Choose the Right Redemption Option

Many cards offer more value for your points if you redeem them in certain ways.

For example, I just redeemed $208 cash back on my SunTrust Visa account. I redeemed the points for checking account credit at the same bank and got an extra 10% — or $20.80.

Many travel cards offer discounts for travel expenses if you use your points to book through their program.

When I redeemed 55,000 Citibank ThankYou points for flights and a car rental, I got 1.25 cents per point instead of the 1 cent I would have received redeeming them for gift cards or other rewards. That’s an extra $137.50!

3. Transfer Unused Points

Transfer unused points into other accounts or programs and turn them into rewards.

I have about 54,000 Marriott Rewards points, mostly from a credit card sign-up offer. I’ve been having a hard time spending them on free hotel nights. But Marriott’s RewardsPlus program lets me convert them into United MileagePlus miles, redeemable toward flights.

You can often combine points if you have several cards from the same issuer. If you only have a few thousand ThankYou points on each of your Citibank cards, transfer them to one card. It could get you the minimum needed to earn a gift card or other reward.

4. Complain

If you have a problem with a rewards program or the rewards — say something.

On one of our free Hyatt nights in Miami (paid for with credit card points), we found something disgusting near the hot tub.

We mentioned it during checkout, the hotel desk clerk apologized and added 6,000 points to our account.

It might not always work, but it’s worth a try.

5. Use Your Amex Offers

Login to your American Express account and look over the “Amex Offers” at the bottom of the page. These rewards are for certain purchases, in addition to the points you regularly earn.

Just click “Add to Card” to use an offer. A recent offer gave me a $15 statement credit for spending more than $15 on Amazon.com.

You can sometimes double up on offers, if you have more than one American Express card, although each card may also have unique offers.

For example, I used each of my three Amex cards to spend $10 on a Home Depot gift card, and got $10 cash back for each one. Net profit: $30.

6. Use a Credit Card to Pay Utility Bills

You can pay most utility bills with a credit card, though sometimes there’s a “convenience fee.”

But if the extra fee for charging your cable bill works out to 3%, it would still make sense to use a Chase Ink Cash card, which pays 5% cash back on Internet and cable service charges.

It also makes sense to pay the fee if you need to spend more on a card to earn a sign-up bonus. Why worry about a $5 fee if the charge completes your spending requirement to earn a $200 bonus?

If there’s no extra charge, always pay with a rewards credit card to get points or cash back.

7. Pay Ahead on Your Bills

If you’re facing a spending requirement deadline, try paying ahead on your bills to put more charges on the card now.

I’ve done this with my water bill several times — fortunately there’s no convenience fee in my city!

8. Buy Discounted Gift Cards to Pay for Regular Expenses

Buy discounted gift cards online to quickly rack up credit card points. The gift cards are either unused or have partial remaining balances. This strategy saves you money and helps you earn credit card points.

A 20% discount is common for Applebee’s gift cards, so a $40 gift card might cost about $32. Buy the digital version and print it out if you’re headed there for dinner. You’ll save $8 and earn credit card points or cash back.

Buy more gift cards for places you’re sure to shop.

I recently bought $200 worth of Walmart gift cards for $193 (Walmart cards have one of the lowest discounts). The charge helped me meet a spending requirement for a bonus that will cover two Southwest Airlines tickets.

Using $200 in Walmart cards will be easy — that’s a couple of weeks’ worth of groceries or part of my holiday shopping.

Check sites like Raise, Gift Card Granny or Cardpool to find discounted gift cards.

9. Buy Gift Cards on Sale Locally

Gift cards sometimes go on sale in local stores, another opportunity to save money and earn credit card rewards.

Our local Dollar General recently had several gift cards on sale for 15% off. I bought $20 gift cards for Domino’s, Olive Garden and Subway — all of which we frequent. I saved $9 total and got 2% cash back.

10. Buy Gift Cards to Earn 5% or 10% Cash Back

Suppose your card’s 5% cash-back categories are “office supplies” and “home improvement,” but you want cash back on gas.

Just find a Home Depot or Staples store that sells gift cards for gas stations — most do.

I recently bought $300 in Shell gift cards at a Home Depot to earn 5% back — and the cash back is doubled the first year on my Discover card, making it 10% total.

11. Make Your Mortgage Payment

Make mortgage payments with your credit card through ChargeSmart and other services. Fees vary, but always are displayed before you complete the transaction.

Decide for yourself if it makes sense to pay the fee to earn points or meet spending requirements.

12. Make Your Car Payments

ChargeSmart also allows you to make car payments with a credit card. To reduce the fee, make a partial payment using the card and pay the rest by check.

13. Buy a Car Using a Credit Card

Last year, my wife and I bought a used car with a credit card. We had the money in the bank, but the dealer didn’t charge anything extra to put the car on my Hyatt card — so why not?

I got enough points in one purchase for a free night at a Hyatt hotel and paid the full balance as soon as I got the credit card statement.

14. Charge Your Rent Payment

You can pay rent with a credit card through several companies — RentShare even lets you split a payment between roommates. If a landlord doesn’t want to sign up for direct deposits from these services, they’ll send a check.

A typical fee is almost 3% of the payment, but it makes sense if you need to meet a large spending requirement for a credit card bonus.

Suppose you need to charge another $700 in the next week to earn a $200 sign-up bonus, and you owe $800 for rent. Charge the rent payment for a fee of $22 (2.75%) and get $8 cash back (1%) — $14 is your net cost to meet that requirement and get a $200 bonus.

15. Pay Your Income Taxes

The IRS actually has a list of approved payment processors to pay income taxes with a credit card.

The cheapest ones charge 1.87% of the amount, so you might even make a little extra if you have a 2% cash-back card. It’s another good way to meet large spending requirements to earn credit card sign-up bonuses.

16. Pay Your Property Taxes

Official Payments lets you pay property taxes using a credit card, but it doesn’t work everywhere.

Fees vary, but there’s a calculator that allows you to check availability and cost in advance. Some localities have their own credit card payment processing service, possibly with a lower fee. For example, here in Sarasota County, Florida, the fee is 2.45%.

17. Pay Insurance Bills

Homeowner’s insurance and auto insurance typically cost hundreds of dollars. Paying them with your credit cards is a great way to pile up points or meet spending requirements.

18. Pay Other Bills

Pay any and all bills with a rewards-earning credit card if you can, unless you’re charged extra fees.

It may be smart to pay a small fee if the charge helps you complete a minimum spending requirement for a sign-up bonus.

19. Send Money Internationally

Several services let you send money to friends or family overseas with your credit card.

Xoom, which is owned by PayPal, lets you send $600 to Mexico for a $15.99 fee — or 2.7%. That’s probably more than the value of any points or cash back you’ll earn, but it’s another way to meet sign-up bonus spending requirements.

20. Charge Your College Tuition

Some payment processors let you pay tuition using a credit card. Plastiq charges a 2.5% fee for the service, and promises to cover any late fees if they don’t get it done on time.

21. Pay Student Loans Using a Credit Card

Some lenders allow student loan payments by credit card — for a fee.

It may be worth paying the fee to meet a spending requirement, but only if you normally pay the card off in full when the statement arrives to avoid interest. Credit card interest rates are typically higher than student loan rates.

22. Pay Child Support

Many states accept child support payments through services like GovPayNet. You’ll have to pay a fee, and “child support” probably won’t show up as a category on any of your 5% cash-back bonus cards, so this may not be the best way to get cash back. However, it could help you meet a spending requirement.

23. Make Church Offerings by Credit Card

Many churches accept credit card offerings.

Swiping your card in the pew is one option, and some churches let you set up online credit card tithing.

24. Charge for Charity

Most nonprofit organizations accept credit card donations. You’ll earn points or cash back, but remember the charity pays a processing fee. It will keep less of your money than if you donated by check or cash.

25. Buy Debit Gift Cards for Everyday Use

I shop at Aldi, where they don’t accept credit cards. They do accept debit cards — so I use a credit card to buy debit gift cards, which I then use at Aldi.

Worth it? Do the math.

I buy Visa gift cards at Staples using one of two cards that give me 5% cash back at office supply stores. The fee for a $200 card is $6.95 and I get $10.35 cash back on the total of $206.95.

A $3.40 profit isn’t much, but I don’t like to carry much cash (the only other way to pay at Aldi).

Then there is this related strategy…

26. Take Advantage of Debit Gift Card Promotions

Both OfficeMax and Staples regularly run sales on debit gift cards.

Recent promotions I’ve taken advantage of included $15 off $300 in Visa Debit cards at OfficeMax, and a $20 gift card for buying two $200 MasterCard debit cards at Staples. I made $26.79 after fees using a $5 cash back card at Staples.

Some reports say Citibank cards sometimes treat debit card purchases as cash advances. Avoid using these cards for this strategy, since you might have to pay additional fees.

27. Buy PayPal Reload Cards

You can often buy PayPal My Cash cards with a credit card (it’s up to the vendor).

I’ve bought them this way several times at CVS. The fee is $3.95, and you can load them with up to $500, which you then add to your online PayPal account.

Even a 1% cash-back card puts you ahead when you buy a $500 reload. But the real value is you have an easy way to meet spending requirements for sign-up bonuses.

Warning: There is a limit of $4,000 per month, and there are reports that PayPal may suspend or close your account if you do this too often.

28. Stock Up on Non-Perishables

Need those credit card points soon to get a free flight? Or maybe grocery stores are about to be rotated off the quarterly 5% cash-back bonus categories.

Buy non-perishable goods to get charges onto that card right now. Canned food is good for years, and paper goods last even longer, so buy these items on sale now to get your points and cash back.

But be sure you haven’t already passed the maximum qualifying amount. For example, Discover only pays 5% back on up to $1,500 in bonus category purchases per quarter.

29. Buy Amazon Gift Cards

If you do a lot of Amazon shopping and need to pile up some credit card points fast or meet a spending requirement, buy Amazon gift cards.

There are no fees, they never expire and shipping is free even if you get the physical cards.

30. Add a User to Your Card

If your spouse is still pulling out cash to pay for purchases, add him or her as a user on your credit card.

One of the best reasons to use a credit card instead of cash is the rewards you get. When you double your spending, you double your points or cash back!

31. Pay for Collective Meals

The next time you’re dining with friends and splitting up the check, collect everyone’s cash and charge the full bill to your best credit card.

(That’s the one that pays at least 2% back at restaurants.)

32. Shop With Friends Who Use Cash

If you have a friend who shops with cash, pay with your credit card and have them give you the cash.

Explain the advantages of the purchase protection that comes with the card (if you have that). Plus, you get the points or cash back.

33. Make a Microloan

Zero to Travel’s Jason Moore suggests making loans on Kiva to help people in other parts of the world — and earn credit card points and sign-up bonuses.

Of course, defaults can happen, so don’t loan what you can’t afford to lose.

34. Fund New Bank Accounts Using a Credit Card

I made more than $1,000 in bank account sign-up bonuses this year, and sometimes funded the new accounts with a credit card.

In other words, I earned points and cash back just for putting money in the bank. Doctor Of Credit has a list of banks where you can try this strategy for yourself.

35. Use Point Promotions

Credit card companies sometimes offer extra point promotions.

My Frontier Airlines MasterCard just offered me 1,000 points to sign up for two recurring bill payments. I’ll probably put my water and cable bills on the card to earn the bonus, and I’ll still get the regular point-per-dollar for the charges.

36. Try Manufactured Spending

If you love to beat credit card companies at their own game — and collect some nice rewards along the way — try manufactured spending.

It’s a tricky game: Use credit cards to buy cash equivalents you can “liquidate” (turn back into cash).

While you can’t load Bluebird and similar accounts directly with your credit card, you can use debit gift cards, then transfer the money back to your checking account.

Buy those debit gift cards with credit cards that offer rewards worth more than the costs you’ll incur.

37. Get a Discover Card

Discover will double all of your cash-back rewards after your first year as a cardholder, which puts it in a class of its own.

It’ll even double the rewards from the 5% categories, so you can get a total of 10% back on those purchases.

38. Get a Sign-Up Bonus

Signing up for a new card is the quickest way to get credit card rewards. I made over $2,000 in sign-up bonuses this year.

Consider this: To earn $500 on a 1% cash-back card, you would have to spend $50,000.

But if you spend just $4,000 on a newly approved Chase Sapphire Preferred® Card, you get a sign-up bonus of 50,000 points plus at least 4,000 points for the purchases.

That 54,000 points is enough to cover $670 in travel expenses.

39. Use Credit Cards for Everything Else

Buying a 69-cent soda at the gas station? Charge it to your rewards card!

Then again, what other kind would you have? Even if you don’t want to pay an annual fee, you can still get a great cash-rewards card, like the Barclaycard CashForward World Mastercard, which helps you earn 1.5% on all purchases.

Unless you have trouble handling credit (some people do), why not get in the habit of paying with a credit card and earning points or cash rewards on everything?

Your Turn: How do you get credit card points and cash back?

Disclosure: We have a serious Taco Bell addiction around here. The affiliate links in this post help us order off the dollar menu. Thanks for your support!

Steve Gillman is the author of “101 Weird Ways to Make Money” and creator of EveryWayToMakeMoney.com. He’s been a repo-man, walking stick carver, search engine evaluator, house flipper, tram driver, process server, mock juror and roulette croupier, but of more than 100 ways he has made money, writing is his favorite (so far).

The post 39 Brilliant Ways to Earn More Points and Cash Back From Your Rewards Credit Cards appeared first on The Penny Hoarder.

source The Penny Hoarder http://ift.tt/1IHgCG8

The Best Affordable SUVs

SUVs have gotten incredibly popular over the past two decades, and that trend looks set to continue — especially as gas prices have fallen in the past two years. Just about every major car brand on the market has come out with an SUV, and their large cargo areas, third-row seating options in many models, and overall roomier interiors have made them favorites of many American commuters and families.

Of course, because SUVs are large, they usually come with a high price. However, there are many ways to be smart about your SUV purchase and choose a great car that will serve you well for many years. Below we’ve included nine highly rated, safe, and affordable SUVs categorized by size: compact, midsize, and large. Later, we’ll look at tips to save money on any car or SUV purchase.

Affordable Compact SUVs

Compact SUVs are just like they sound: bigger than a sedan but smaller than some of the larger SUVs on the market. Compact SUVs can run anywhere from $17,000 new to around $80,000 for the most expensive Porsche compact SUV; we’ll focus on compact SUVs that are under $25,000 new. These SUVs range from 2015-16 cars, have great ratings and, of course, if you want to get a better deal on the price, purchase a compact SUV that is one to two years old for a big savings.

2016 Hyundai Tucson

• Cost: $22,700
• MPG: 23 city/31 highway

The 2016 Hyundai Tucson received an 8.7 overall rating by U.S. News and World Report, and an even more impressive perfect safety rating of 10. Last year’s model also ranked highest overall among small SUVs in J.D. Powers 2015 Initial Quality Study.

The base model is very affordable for the category, and comes equipped with a lot of standard features. However, what I like about this car is that, depending on your budget, you can opt for even more luxurious upgrades that aren’t too outrageous. The most decked-out version of this car is $31,300 for all-wheel drive, heated back seats, and a few other upgrades.

2015 GMC Terrain

• Cost: $24,070
• MPG: 22 city/32 highway

The GMC Terrain has more cargo room than the Hyundai Tucson, but it’s still a compact SUV. I really like the boxy, square design of this car. It looks far more luxurious than its $24,070 price tag. U.S. News gives it an overall ranking of 8.5 and a safety ranking of 9.4.

2015 Honda CRV

• Cost: $23,445
• MPG: 27 city/34 highway

Rounding out our favorite affordable compact SUVs is the Honda CRV. I drove a 1995 Honda CRV when I lived abroad, and it was a great little car. The CRV’s design has of course changed multiple times since then, and now it has a sleeker, curvier look, with admirable gas mileage for a non-hybrid SUV to boot.

U.S. News named the 2015 CRV the ‘Best Compact SUV for the Money,’ and its overall ranking of 8.5 and a safety ranking of 9.3 make it a great bet for individuals and families alike.

Affordable Midsize SUVs

I drive a midsize SUV. It’s a very high-mileage Volvo XC90 that’s only worth about $5,000. It’s a great car, but because it’s so expensive brand new, it’s not included on this list. What we have included are midsize SUVs that you can buy new (or preferably one to two years old) for under $30,000. With so many midsize SUVs clocking in at $50,000 and above, these options are great for a family who wants a bit more room when they drive without paying a huge sticker price.

2015 Nissan Murano

• Cost: $29,560
• MPG: 21 city/28 highway

Nissan bills its Murano as “the most social car” they’ve ever designed. It has some great technology built into the car, a wonderful sound system, and an overall beautiful, spacious design. Nissan’s vehicles are known for their affordable longevity, and its popular midsize crossover SUV strikes a nice balance between roomy and sporty. U.S. News gives it an overall rating of 8.7 and a safety rating of 9.3.

2016 Kia Sorento

• Cost: $24,900
• MPG: 21 city/29 highway

Kia has always been known as an affordable car brand, but they’ve really stepped up their game in terms of design since being acquired by Hyundai several years ago. The 2016 Kia Sorento is absolutely beautiful, and with a safety rating of 9.7 and an overall rating of 8.5 it’s a serious contender against some of the more luxurious brands in this category — at a price that’s hard to beat.

2015 Toyota Highlander

• Cost: $29,765
• MPG: 20 city/25 highway

While the Toyota Highlander is classified as a midsize SUV by U.S. News, it actually has room for eight passengers. So you can use the cargo space for your groceries or gear, or you can pile in more people in for a fun adventure.

The Highlander gets an 8.6 rating and a 9.0 safety rating from U.S. News, and even with the spacious interior and great features, it still comes in at under $30,000 for the base model.

Affordable Large SUVS

This last category includes large SUVs that are under $40,000. While this is certainly a lot of money to pay for a car, the most expensive luxury SUV can cost as much as $200,000 for a Range Rover, for example, or over $100,000 for a Mercedes Benz SUV or a Land Rover. Since those types of vehicles are out of range for most of us, it’s helpful to know there are large, roomier vehicles available for those with more modest budgets.

2015 Buick Enclave

• Cost: $39,050
• MPG: 17 city/24 highway

Buick has really transformed their brand over the past few years, and it shows. They’ve been trying hard to shed their reputation as “the car that old people drive,” and they don’t have to worry — because their 2015 Buick Enclave is a gorgeous luxury SUV for under $40,000, with a high safety rating of 9.7 and overall rating of 8.4.

I especially like the fact that the second row has captain’s chairs. This will be a strong contender for my next vehicle once my 225,000-mile Volvo decides to die once and for all.

2015 Dodge Durango

• Cost: $30,495
• MPG: 18 city/25 highway

The 2015 Dodge Durango is definitely a large vehicle — great if you have a bunch of kids or a lot of work equipment or outdoor gear to lug around. U.S. News gives it an overall rating of 8.3 and a safety rating of 8.8 — not as high as the other vehicles on this list. However, it has more technology options than some other comparable vehicles, so it’s definitely worth a look and a test drive depending on what your priorities are when it comes to an SUV.

2016 Chevy Traverse

• Cost: $31,205
• MPG: 17 city/24 highway

U.S. News calls the Chevrolet Traverse a large SUV, while Chevy itself classifies it as a midsize SUV — so it definitely straddles the two categories. Suffice to say, it’s very roomy, high quality, and has a large cargo area. It also has a high safety rating of 9.4, making it great for families with young kids and babies (along with all their accompanying gear). U.S. News gives it an overall rating of 8.3.

Tips for Purchasing an Affordable SUV

No matter which SUV or crossover vehicle you buy, there are some tried-and-true ways to get an even better price on the model of your choice.

Pay in cash. I have to put this tip first because it’s by far the easiest way to get a better deal on a car. Cash is king and the best form of negotiation. Many people believe paying cash for a car is unreachable for them, but by saving just a few hundred more dollars a month or making some extra money on the side, you’ll be well on your way to saving up enough to pay for a car completely up front.

Get several loan offers. If you absolutely can’t pay cash for a car, then the next best thing is to get several quotes for a loan. Before you go to a dealership, contact your local bank or do a search online where you can compare different financing offers. That way, when you go to a car dealership, you have some negotiating power.

• Related: Best Car Loans for 2016

Focus on more than the monthly payment. People put way too much focus on their monthly payments, and this plays into the car dealer’s hand: They’ll try to fixate you on a lower monthly payment when in reality they’re charging you more for the vehicle, spread out over a longer loan period. Plus, this doesn’t take into account the possibility of going underwater on your car. If you stretch out your loan to six or seven years, you can easily owe more on your car than it’s actually worth, which can leave you in the lurch after an accident.

The best ways to lower your monthly payment without paying more in the long run are to make a larger down payment, get the lowest possible interest rate, and negotiate a lower price.

Buy used. Purchasing a used car that is only a couple of years old is one of the best ways to get more car for your money. Vehicles lose up to 20% or more of their value in the first year — buying a late-model used car means you dodge that depreciation hit and pay for the car itself, not the new-car smell.

Take your time. If you know you’ll be in the market for an SUV, it’s important to take your time. The worst time to shop for a car is when you need one ASAP — you’re in a more vulnerable negotiating position. It’s far better to research options and prices in your area, test drive a few models, and then purchase the car when you have enough money saved and are confident in your decision.

Skip the extended warranty. Car dealerships make a boatload of money on warranties. You don’t need to purchase the extended warranty. It would be cheaper to put away a small amount of money each month earmarked for car issues and fund it yourself.

Walk away if it doesn’t feel right. You may do all of the steps above and think you’re ready to buy a car, but go to buy it and sense that something just doesn’t feel right. Whether it’s a pushy salesman or you don’t absolutely love the car when you test drive it, it’s important to listen to those gut instincts. There are tons and tons of SUVs to choose from, so don’t rush the process!

Final Words

Overall, when it comes to buying an SUV, it’s important to do your homework and not to rush the decision. As stated above, paying cash and buying a used car are the easiest ways to get a great deal on an SUV and ensure it’s affordable for your family.

However, you can also research the best times to get a great deal on an SUV — typically at the end of each month or at the end of the year when dealers are trying to clear out last year’s models.

Research what a fair price is ahead of time on automotive sites such as Edmonds and Kelly’s Blue Book, and go into the dealership armed with those numbers and lots of knowledge. While you’re at it, research the fair trade-in value or resale value of your current car if you plan to put it toward the purchase.

Overall, with enough planning and thought, you should be well on your way to buying an affordable SUV whether you get a compact SUV for storing gear on a road trip or a large, luxury vehicle for your growing family.

The post The Best Affordable SUVs appeared first on The Simple Dollar.

Source The Simple Dollar The Simple Dollar http://ift.tt/1IHjgMj

25 Ways to Improve Your Finances in 2016

Get on a great financial track with these tweaks to your money habits.

Source U.S. News - Money http://ift.tt/1lRRi5P

Taking the First Steps Toward Saving for Retirement

It’s a pretty familiar story. A person doesn’t pay any attention to retirement savings at the start of their career, deciding usually on the spur of the moment that it’s not really something they need to do right now. Usually, it’s not even thought about as something they should do “someday” as it isn’t even considered that deeply. It’s just something that people think of as irrelevant in that moment.

Eventually, though, little things keep popping up in their life that directs their attention toward retirement savings. Maybe they’ll hear about their parents or the parents of a good friend struggling in retirement. Maybe they’ll keep reading news stories about retirement. Maybe they’ll see a Social Security benefits statement in the mail.

And, eventually, those little things add up to enough weight to flip that switch. They’ll start thinking about retirement on their own. They’ll maybe do a Google search or two and get all kinds of crazy answers.

And they’ll start to worry.

If that sounds anything like you, then you’re the exact person I’m talking to here. You’ve finally come to the realization that you might have to save for retirement and it’s frankly a bit overwhelming and scary and perhaps feels a bit unrealistic.

Let’s dig in to the most common questions people tend to have at this point, questions that many other readers have brought up over the years when at this very crossroads.

Why Do I Have to Save When My Parents Did Not?

Part of the reason that many people choose not to save for retirement is that it’s simply not something their parents had to do. Many children of baby boomers and even some children of older Generation Xers were lucky enough to have parents that had pensions given to them by their employer.

A pension is a really wonderful thing. It’s an additional benefit given by employers to their employees that guarantees them some income for life after they retire, usually based on years of service to the company.

Take my father, for instance. He worked for the same company for around thirty five years, even through some tough years in the 1980s where layoffs were frequent. His reward for that loyalty was a pension that supplements his Social Security in the form of a check that arrives every month from his old employer.

On the other hand, very few employers today offer those benefits, especially to people my age. Some government agencies offer such pensions, but aside from that, they’re awfully rare.

That’s why many people in their thirties and forties and fifties today have parents that didn’t have to save for retirement, but that same benefit doesn’t apply to them.

Why Save When Social Security Exists?

Isn’t Social Security designed to ensure that people are going to be okay in retirement? It’s a nice theory, but it doesn’t reflect reality for two big reasons.

Reason #1 – Social Security Benefits Alone Will Likely Not Support the Kind of Retirement You Want

The reason that many people’s parents have been able to have stable retirements isn’t because of Social Security. It’s because of a healthy pension (or other financial choices they’ve made). Social Security benefits alone simply aren’t enough for people to have the kind of retirement they envision.

Take a look at this Social Security calculator. Let’s say you make $40,000 a year at your peak and retire at age 65. Your benefits are going to only be $1,129 a month. That adds up to about $13,400 a year. Ouch.

Even if you hang on to age 70, your Social Security benefit is only going to be $1,658 a month which doesn’t quite add up to $20,000 a year. Again, ouch.

If you live a very careful existence, those benefits (with cost of living increases) will be able to allow you to survive and keep food on the table, but there won’t be much breathing room at all and the cost of health care will be crushing. It just doesn’t add up for most people and the lives they want to live.

Reason #2 – Social Security Will Have to Change in the Future

The long term math for Social Security is on shaky ground. Exactly how shaky depends on which reports you read, but most of them tend to agree that the whole system is going to run into some difficulty in the future, as there will be fewer people putting money in and more people taking money out.

What will that mean for you? It’s really hard to tell because it depends entirely on which way the wind is blowing when the system begins to run into trouble in a decade or two. They may increase the costs for people paying in. They may also cut benefits. It’s impossible to say for sure.

Regardless of what happens, depending on Social Security as an absolute guarantee is likely a mistake. You should make plans that allow you to survive even without Social Security.

Should I Retire At All?

This is a question that many people eventually start asking themselves.

Some people come to the conclusion that they’re simply going to keep working at their current job until they are unable to do so, foregoing any sort of “retirement golden years.” This is essentially what my mother-in-law and father-in-law are doing, as they are traveling extensively during their fifties and sixties and using their time off from work to the fullest.

Other people plan on using their retirement for another career, one that will theoretically earn at least some money to supplement their Social Security.

Even if those things describe you, having at least some money socked away for those later years will be beneficial. There’s no guarantee that you’ll have your current job then or that it will be stable when you’re in your sixties or seventies, and your employment options and income options may be limited. Retirement savings can make the difference here, even if it’s not enough to fully support your lifestyle.

What Are My Options for Saving for Retirement?

One of the big challenges for people when it comes to saving for retirement is that there are a lot of options out there. I’m going to list six common options below, ones that I often see and hear people using, but they are just six among a nearly infinite number of plans.

Option #1 – A Savings Account

I consider the option of putting money into your savings account to be the “default” option. It works to an extent in that it will keep your retirement savings very safe and at least earn a little bit of a return, but it has some really big drawbacks.

First of all, you don’t get a very good return on your money in a savings account. Savings accounts rarely pay out more than 1% these days, and those that do usually have big restrictions on them. Compare that to the 7% annual rate of return that you can get in other investments. Over time, that ends up being a very, very large difference.

Second, there isn’t any tax benefit here. Let’s say you have $100,000 in a savings account that earns 1% interest. Over the course of a year, that savings account will earn $1,000 in interest, but at the end of the year, you’re going to have to pay taxes on that interest. That might be a pretty painful thing, as you might end up paying as much as 39% of the interest away in taxes. With better retirement planning, you wouldn’t have to pay any of the gains in taxes.

The one big advantage of a savings account is that it is insured by the FDIC against the failure of your bank. You’re not going to lose that money. Still, you can get a very similar insurance against business failure in other investment options.

A savings account is better than nothing at all, of course, but it is far from your best option.

Option #2 – An Investment Advisor

The next option that many people consider is just going to an investment advisor. They’ll look up the number of their local Edward Jones office and stop in, explaining their situation to the advisor there and letting that person make the choices.

Any investment advisor worth his or her salt will likely set you up with an IRA of some kind, likely a Roth IRA. However, that’s something you can actually do for yourself without paying an investment advisor to be a middle man. (I’ll describe that more below.)

Not only that, some financial advisors (especially ones that operate on commission) have strong financial interest to guide you into certain investments, ones that might not be best for you but earn a lot of money for the investment advisor. Those investments generally aren’t bad (at least if you’re with a reputable advisor), but there are usually very similar investments out there that offer better returns.

So why would you talk to an investment advisor, then? Often, financial decisions can seem really scary and people get a sense that if they make a mis-step, they’ll end up costing themselves far more than what they would have to pay a financial advisor for. It’s comparable to having someone who knows nothing about plumbing being handed a pipe wrench and told to install some pipes. Even though the task really isn’t that hard, the perception of difficulty and the visions of the disasters that could occur is often enough to call in an expert.

Personally, I think that there’s more benefit in figuring out enough of what’s going on to just manage retirement savings yourself. It’s really not that complicated. Once you learn about some of the details of retirement savings, the decisions really aren’t that complicated.

Option #3 – Investing on My Own in Taxable Funds

Some people will simply open up a brokerage account and start putting money in there regularly.

A brokerage account is simply an account that you have with a house (like, say, Fidelity or Ameritrade) that will help you with the nuts and bolts of doing things like buying stocks and bonds. You deposit money into that account and then you’re able to use that money to do things like buy stocks and bonds and, later, to sell them to hopefully earn a profit. If you want to buy a share of stock, for example, the brokerage helps you to find someone that is selling that share and makes the trade for you. They usually charge a fee of some kind for that service.

Investments like these open the door to much higher returns than a savings account, of course. For example, the stock market tends to return an average of 7% per year over the long haul (that percentage is higher or a bit lower depending on how you count).

There are a few problems, though. One is that there are brokerage fees to deal with, which can chip into your returns. This has less of an impact on people who simply buy investments in big chunks every once in a while and sit on them, which is a very sound strategy, but if you buy frequently and sell a lot, it’s going to really hurt.

Another problem is the taxes, as discussed above with savings accounts – every dollar you make has tax consequences and it can get pretty challenging and confusing if you buy and sell a lot. If you’re saving for retirement, you should take advantage of some tax benefits that are available for people in your boat, and I’ll discuss those below.

Yet another problem is that there’s no guidance. A typical brokerage account is akin to being thrown into the deep end of the swimming pool with no life preserver. If you don’t know how to swim in there, you’re going to thrash around and make mistakes. There are a lot of investment options available – many good, some pretty poor. Most brokerage accounts do very little to help you figure out what you should be investing in. They leave that up to you to figure out and it’s easy to pick something that’s a decent investment, but maybe not the best choice for you and your situation.

Option #4 – Buying Real Estate

One of my relatives used this as his retirement plan. All through his life, he slowly bought up properties in his area and eventually retired, living off of Social Security and the rent he was charging on those properties.

He paid for the houses he purchased with cash, but many people go down this route by taking out mortgages for the properties and earning the money back through rent which goes to pay for the mortgages.

This has a couple of nice benefits. For one, you’ll be earning a return on your property without selling it provided you’re charging rent to someone using that property. For another, you’re likely to be holding onto that property at least until retirement where the taxes on that sale will have a much less painful impact (because your tax rate will be lower when you retire because your overall income is lower).

Again, one drawback of this plan is that there are no tax benefits for this plan, but compared to the other plans you really don’t need one nearly as much. It’s unlikely that you will sell the houses until you reach retirement age anyway, if ever.

Another drawback is, well, you have to manage the property yourself. That means that you’ll either be devoting some of your free time to maintaining the property (and paying for any maintenance) or paying someone to do it for you.

There are also some real expenses and risks. You’ll be paying insurance and property taxes on top of any mortgage interest, which can really devour your gains, especially if you don’t have someone renting the property.

This can work, but it works best when you can afford to take on some risk and things aren’t going to fall apart for a while if you don’t have a renter.

Option #5 – A 401(k)/403(b)/TSP Through My Workplace

Here, we get to some really good retirement options. This group of options focus on plans offered by your workplace – usually a 401(k), 403(b), or TSP, but there are other flavors. They all work roughly the same way, though.

With an account like this, you sign up through your workplace and agree to have a percentage of money taken out of your paycheck. Most of the time, that money is taken out before taxes, which means that your paycheck won’t go down as much right now but you’ll have to pay taxes on that money in retirement. Sometimes, particularly when you have a “Roth” offering, the money is taken out after taxes, which means you won’t pay any taxes on that money in retirement but that money comes straight out of your take-home pay.

This is really convenient because you just don’t have to worry about actually saving. Your employer handles the mechanism for you – once you’re signed up, there’s nothing you need to do any more.

Another benefit is that some employers offer matching funds on your contributions. I’ll make this very clear: if your employer offers matching money in your 401(k) or 403(b) or TSP, this is the best way to save for retirement. There’s nothing else that will compare to it because it’s basically fistfuls of free money in your retirement savings. Free money isn’t something that happens in life very often, so you need to grab this. Contribute at least enough to get every single drop of matching funds, period.

It’s also usually pretty easy to choose investments within this account. That’s because many such accounts usually just offer a handful of options to choose from – target retirement accounts (which are usually a really good option) and maybe a few others.

What’s the drawback? The investment options in such an account are often good but not great. They tend to not be terrible, but they are usually chosen to make some money for the company that runs the 401(k).

In general, this is far and away the best option for retirement savings as long as there is any employer matching available. If your employer offers matching, your first step is easy – go sign up for the retirement plan at work and gobble up every single drop of matching money that you can get. If they match up to 6%, contribute 6%. If they match up to 10%, contribute 10%.

Option #6 – A Roth IRA (or Traditional IRA)

But what if your employer doesn’t offer a plan, or what if they don’t offer any matching within that plan? In that case, an IRA is probably your best choice.

An IRA is kind of like an employer-sponsored plan as described above except that no employer is involved. Instead, you have to sign up with a company that offers IRAs (there are many – I personally use Vanguard) and open that account yourself. That’s a big step for some people, but it’s not actually all that tough. To get money in there, you usually have to sign up to have money taken out of your checking account and deposited into that account, which will all be set up during the account sign-up process. Then, in the future, money will be automatically moved from your checking account to the IRA on a regular basis.

There are two different kinds of IRAs. Roth IRAs are the best option for most people as they’re available for everyone making under six figures a year (and even some people a little over that, too). In a Roth IRA, you contribute money straight from your checking account, but once the money is in there, you basically never have to pay taxes on it again. You can take the money you contributed out whenever you want without paying taxes and if you wait until age 59 1/2, you can take out any money you earned in that account out without paying any taxes on it. It’s income without taxes! (The other kind of IRA is a “traditional” IRA, which is an option for people with higher incomes.)

The biggest drawback of IRAs is that there are a lot of options. Unlike a 401(k), you have to choose an investment house first (as I said earlier, I use Vanguard) and then, once you’re signed up, you usually have a ton of investment options. The easiest route for most people is to just use a target retirement fund that matches the year you hope to retire.

I Am Scared to Sign Up! What If I Make a Mistake?

The one thing that holds people back from signing up for a retirement account is the fear of making a mistake that’s going to end up costing them more in the future. Part of that fear comes from an investment industry that wants people to hire financial advisors for everything, so they try to make investing seem intimidating and scary. It’s not.

Here’s the truth: 99% of the success and failure of saving for retirement comes from how much you choose to save, not the exact place you choose to put it. That’s especially true right at the start, as you don’t have much in there to really be affected by stocks or real estate going up and down in value. You can always move things around later on. The best ticket to retirement savings success isn’t choosing the right investment or the right brokerage. It’s choosing to save as much as you possibly can.

My very simple recipe for retirement savings success is as follows. First, find out if your employer has a retirement plan available for you and, if they do, whether it offers matching on your contributions. If it does, sign up for that plan. Choose the Roth option if it is available to you as that tends to be better for taxes for those who are eligible for it. If your employer doesn’t have a matching plan, sign up for an IRA – again, preferably a Roth IRA if you’re eligible for it – at a investment house. I use Vanguard but, honestly, none of the major ones are really bad – they just tend to vary in the amount of fees and hand-holding they provide. Fidelity is definitely a good option, too. When signing up, contribute as much as you reasonably can to that account, and choose a target retirement fund that’s close to your retirement year as your investment. Then, let it sit. Every once in a while, consider contributing more than you already are if you can do so.

You pretty much can’t go wrong with that plan. If you follow it, you’re going to be on the right path with retirement savings without making any big mistakes.

Good luck!

The post Taking the First Steps Toward Saving for Retirement appeared first on The Simple Dollar.

Source The Simple Dollar The Simple Dollar http://ift.tt/1Ne5pMb

5 Signs You Have Problems Prioritizing Work

Your boss and co-workers aren't impressed when you send out work emails at midnight.

Source U.S. News - Money http://ift.tt/1lRGftu

4 Steps to Cash In on Stacking Cash Back

Buying holiday gifts online? Here's an easy way to knock a few dollars off your order. 

Source U.S. News - Money http://ift.tt/1RGB101

Free Apps to Save You Money in 2016

Your mobile device can help you stay on top of the lowest prices and best deals.

Source U.S. News - Money http://ift.tt/1U7vAGT

Could You Pull Off a “No-Spend” Holiday? These 17 Tips Make It Totally Doable

Americans plan to spend, on average, $830 on gifts alone this holiday season, according to a recent Gallup report.

That’s a whopping 15% and $110 more than they planned to spend last year!

And that’s not even including the added costs of holiday cards, decorations, hosting and travel. It’s no wonder another study, done by SunTrust Banks, Inc., found 46% of Americans feel pressured to spend more than they can afford on the holidays.

Fortunately, we penny hoarders aren’t average.

The better question to ask us isn’t how much we plan to spend this holiday season, but how little.

And with the recent trends toward simplicity, minimalism and “buy nothing” detoxes, we found ourselves wondering… Could anyone realistically get away with a zero-cost holiday?

We think you can.

Whether your finances are especially tight this year or you simply want out of the consumerism treadmill, having a “no-spend” holiday is possible.

We interviewed financial gurus and real-life savvy savers to gather these 17 tips that will help you rock a spendless holiday season while still making spirits bright.

1. Find Your “Why”

Ignoring the buy-buy-buy mania of the holidays isn’t easy. To stick to your guns, ground yourself in why you’re going “no-spend” this year.

Maybe you’re on a restricted budget after a job loss, or you’re trying to throw as much money as possible toward paying down debt so you can enjoy more financial freedom.

Whenever the holiday spending hoopla gets too noisy, remind yourself of this reason.

2. Just Say No

And for those times when you just can’t resist all the jingly, jangly commercialism of the season? Cognitive behavioral therapist and coach David Ezell recommends the tried-and-true tactic of “simple avoidance.”

“One of the ways I avoid impulse buying,” he says, “is not going to retail stores this time of year. Those stores are set up to lure people into spending more money than they are willing to spend.”

You may find you need to stay away from certain websites, unsubscribe from certain email newsletters or automatically throw any catalogs you receive into the recycling bin.

3. Make It Known

The best way to head off confusion and potential hard feelings from loved ones is to state your intentions, calmly and firmly, from the get-go.

“Talk to family and friends about gift expectations,” advises nationally recognized money-saving and consumer expert Andrea Woroch.

“It’s OK to tell family and friends you don’t want to receive gifts and that you don’t plan to give them either, focusing on how you feel the holiday season has turned into a consumer and spending event and has moved away from the importance of simply being together.”

Blogger Lauren Bowling of L Bee and the Money Tree agrees. “I think it’s perfectly acceptable to politely decline to travel if you can’t afford it or are saving up for a house or other financial goal. You can let family members in on it so they don’t feel you’re bailing for a personal reason and can champion the cause along with you.”

4. DIY

There’s nothing better than a gift made with love, and the holidays are the perfect opportunity to put a little thought and time into homemade gifts for the special people in your life.

Eliza Cross, the blogger behind Happy Simple Living, shared these crafty and creative ideas:

• Shoot digital photos that recipients can share online. Shutterfly and Walgreen’s often offer free photo printing promotions, too.

• Collect flower seeds from standing seed pods, put them in a pretty envelope and include planting directions.

• Make a family holiday video using a free app like Magisto Movie Maker.

• Write up some of your favorite, foolproof dinner recipes on recipe cards or in a dollar-store notebook.

• Make a digital family cookbook with family members’ recipes.

Are you a good cook or baker? Tiffany Welka, Vice President of VFG Associates, advises asking friends and family what they enjoy eating.

“This way, you could cook or bake whatever is on their list. Someone once said that the way to the heart is through the belly!” she says.

5. Regift

Don’t let that classic “label-maker” episode of “Seinfeld” guilt-trip you — Woroch says regifting is a perfectly acceptable practice, so long as you use some basic common sense.

“You may have gift cards left over from last holiday season or items you received for a recent birthday or other holiday celebration,” she says. “If you still haven’t used these items, regift them! Just make sure you don’t give it to the person who originally gave it to you.”

Julie Ritten, founder of Ritten Financial, suggests a creative spin by rebranding regifting as a White Elephant party.

“You and guests will have free rein on creativity, in addition to getting rid of stuff in your house,” she says. “Remember, one person’s junk is another’s treasure.”

6. Swap

Swapping is another great way to both clear your home of items you no longer use and find potentially great gifts for your loved ones.

“If you have children,” Woroch says, “you probably also have a room or chest full of toys they don’t play with anymore.

“Set up a swap with other families in your area and trade gently used toys and books. Then wrap the like-new ones, which are perfect presents for your children or other children in your family. Kids don’t care if toys are new — they just want something different to play with!”

Clothing and accessory swaps are also popular these days, and you can make a fun event of it with your friends by inviting everyone to bring a drink or plate to share along with their gently used items.

7. Cash In Your Points

If you belong to rewards programs like Swagbucks or Bing Rewards, you can earn points for doing simple activities like answering surveys and running your normal Internet searches. Then you can redeem these points for everything from gift cards to merchandise.

Join now, or ramp up your participation if you’re already a member: You might be able to earn enough points to give a seemingly “store-bought” gift or two that costs you nothing but a little of your time.

8. Be of Service

“Whether you’re a talented photographer or can help a friend spruce up their website with your design skills,” Woroch says, “your services are a great gift to give without spending any money.

“If you feel as though you lack any specific talent, keep in mind that many friends and family would certainly value your services for babysitting, dog walking or even help painting a bedroom!”

“The best alternative to gift-giving is offering your time to others,” agrees Nate, the blogger behind Hacking Your Budget.

“Whether that’s volunteering instead of donating money, offering to deep-clean your grandparents’ house or watching a friend or family member’s kids for a night out.”

9. Give the Gift of Memories

“A great way to not spend any money on gifts is find items you have that carry sentimental value and add your own personal touch to them,” says Robert Palmer, host of the radio show Saving Thousands.

“Transfer old home movies to DVD and digitally update them — a great gift for your parents and grandparents. Turn your parents’ old wedding photos into a digital slideshow with music. You can’t put a price tag on these types of gifts.”

10. Give the Gift of Time

“The best gifts aren’t the most expensive,” says relationship advice expert April Masini of Ask April. “In fact, they’re often the ones that don’t cost money, but instead involve time.”

There are tons of options. “Spend the holiday with a loved one, or a neighbor who is a shut-in and can’t get out. Simply being there, passing the time, and offering companionship and good cheer is going to stave off loneliness for someone who would much rather have your company than a fancy gift from Hermes or Tiffany.”

Dr. Susan Smith Kuczmarski, author Becoming A Happy Family: Pathways to the Family Soul, reminds us “a family’s togetherness has to be cultivated, just like one would nurture love and friendship.”

Having long, conversational meals together, “treasuring silly traditions” and especially “pulling the plug on the tech equipment” for a little while can go a long way toward making you closer as a family.

11. Give Back

Volunteering can also be a priceless gift that rewards both the recipient and the giver.

“You might agree as a family not to exchange gifts this year, so give back to your community instead,” says David Bakke, a writer for Money Crashers.

“Local soup kitchens and homeless shelters always need help. Or, contact a Meals on Wheels organization near you. Delivering hot food to the needy is always a gratifying experience.”

Masini agrees. Instead of buying gifts, she suggests you “spend Christmas volunteering at a cancer ward or a Veteran’s Administration facility where people have so much less and need so much more than you. This is a game changer for your life, and that of your children and loved ones when they join you.

“The spirit of the holiday gets lost in credit card transactions, and it doesn’t have to. Put your credit card away, and — instead of spending — give your time and yourself to those in need.”

12. Rethink Wrapping Paper

What if you don’t go 100% gift-free? “Use recycled newspaper or magazines to cover up your item,” says Nate.

If you want to really get creative, you can match the wrap to to the recipient, like using the comics section to wrap a gift for the friend who always makes you laugh.

13. Be a Courteous Recipient

No matter how well you broadcast your intentions, you may still find yourself on the receiving end of those who refuse to take “no gifts” for an answer. When this happens, practice gratitude for others’ thoughtfulness rather than reminding them of your rules.

“Some people are natural gift-givers,” says Trevor Ewen, who blogs at the personal finance site Pear of the Week.

“It’s how they show love; it’s how they express themselves… There are some people who will toil over the right gift and just want to see the joy in your face.”

Remember, just because you won’t be able to reciprocate in kind doesn’t mean you can’t return the generosity in other ways.

14. Be the Host With the Most for Less

Switch up your annual get-together by having a potluck. “It will take the pressure off you and allows your guest to showcase their favorite recipe,” says Ritten.

“You can do one better by having guests bring copies of their recipes, hole punch them and tie all pages together for a new holiday recipe book. This can make for a wonderful annual event for family and friends!”

You can also “use up the foods in your freezer and pantry to start 2016 fresh,” she adds. “There are many websites  — Recipes.com, for example — that allow you to list ingredients you have and in turn give you an array of delicious, creative meals for your family to enjoy.”

When it comes to entertaining holiday guests (or just your own restless crew), Bakke says, “Instead of choosing expensive holiday activities like light shows, hayrides and winter wonderlands, go the free route and spend some time playing in the snow, building snowmen and making snow angels. You could even grab a large laundry basket, find a small hill and have an afternoon of sledding with the kids.”

Even something as simple as streaming classic holiday movies can make for a fun, no-spend evening.

15. Deck the Halls With… Stuff You Don’t Have to Buy

“Holiday decorations are so easy to make for free,” says Natalie Andrews, who learned money-saving home improvement tips working for Helpling home cleaners.

“If you have public woodland or trees near you, go out and collect large fallen branches (be sure not to cut any off the trees!) which you can then display in a big vase or even a bucket wrapped in festive paper.

“To decorate the branches, simply add a string of lights, or create some free fruit decorations. Slice various fruits very thinly (oranges, pears and apples work best) and place them in a very low temperature oven for a few hours until dried out. Pierce a hole and tie a loop of ribbon through the fruit, and hang on your branches. Voilà: free, festive, natural decorations!”

Cross points out you can also “find new ways to display decorations you already have, like hang pretty Christmas ornaments from your chandelier, or arrange colorful glass balls in a clear bowl.”

16. Think Outside the (Card) Box

“Sending holiday cards can get expensive when they’re marked up for the holidays,” says Nate, “so simply create your own using a Microsoft product or GIMP, which is essentially a free Photoshop-like program.

“You can still get creative and create a nice card to send to family and friends. Bonus tip: Consider emailing the card instead to save on postage.”

17. Travel on Other People’s Dimes

Jason Steele of CompareCards.com is a master of traveling for free or nearly free. He offers the below advice for getting over the hills and through the woods for less:

The key to traveling for free is to apply the same skills you use for earning and saving money to the world of points and miles.

The easiest way to earn points and miles is through the careful use of reward credit cards. There are many cards that offer 50,000 miles or more, just for signing up and completing a minimum spending requirement. Then, cardholders can earn additional miles by using these cards for their regular purchases.

So long as they avoid interest charges by paying off each month’s statement balance in full, there are few costs to this strategy, other than annual fees.

But when it comes to holiday travel, you have to be even more careful as this is a time of peak demand when it can be difficult and expensive to redeem miles in frequent flier programs like the ones from Delta, United and American, which severely restrict award availability during the holidays.

Instead, holiday travelers should focus on earning points and miles that are worth a fixed value toward flights, such as Southwest Rapid Rewards, Chase Venture Rewards and Discover it miles. Then, it’s important to book holiday flights as early as possible when the fares are still low.

Given the rampant consumerism most people associate with the holidays, opting out of the spending game won’t necessarily be easy.

But if you believe in it, and you’re willing to give it a go, you may be surprised to find how rich and generous the holidays can be with zero spending.

Your Turn: Have you ever done a “no-spend” (or low-spend) holiday — or are you trying to this year? Share your stories and tips with us in the comments!

Disclosure: Some of the links in this post are affiliate links. We would have shared them with you anyway, but a true “penny hoarder” would be a fool not to take the company’s money.

Kelly Gurnett is a freelance blogger, writer and editor who runs the blog Cordelia Calls It Quits, where she documents her attempts to rid her life of the things that don’t matter and focus more on the things that do. Follow her on Twitter @CordeliaCallsIt.

The post Could You Pull Off a “No-Spend” Holiday? These 17 Tips Make It Totally Doable appeared first on The Penny Hoarder.

source The Penny Hoarder http://ift.tt/21RA21G

Warning on 1 per cent car deals

EXPERTS have warned buyers to beware of low interest rate finance offers on new cars in end-of-year sales which leave a lump-sum payment at the end.

Source NEWS.com.au | Business http://ift.tt/1IGZsbN

Over 55's still unaware of state pension changes

Rachel Lacey

pension changes.jpg

Millions of over-55s are unaware of the imminent changes to the UK state pension, according to new research from Aviva.

Millions of over-55s are unaware of the imminent changes to the UK state pension, according to new research from Aviva.

According to the insurer’s latest Real Retirement report, barely two-in-three over-55’s are aware that the current state pension will be abolished and replaced by a new ‘single-tier’ or ‘flat rate’ scheme on 6 April 2016.

read more

Source Moneywise http://ift.tt/1RGiqRN

Looking for a New Job in 2016? Here are the Best Places to Work You’ve Probably Never Heard of

Every employee wants to work for a cool company. But we don’t all want to work for Google.

While the tech giant famously offers its employees some killer perks, you may not want to deal with its overwhelming size or battle the intense competition.

Learning what it’s like to work for smaller, unknown companies can be trickier — they’re not necessarily making headlines.

Thankfully, the workplace review website Glassdoor lets the employees do the talking. In anonymous reviews, employees can list what they love about working for their company and what they’d change, as well as advice to management. Employees also get to rate their CEO and their company overall — like Yelp for your job!

Yesterday, Glassdoor released its eighth annual Employees’ Choice Award winners, which are ranked based on employee reviews at the site over the past year. The giants you’d expect are on the list: Facebook and Google ranked #5 and #8, respectively, with Airbnb topping the list.

But the Awards also include companies that might surprise you… many you probably haven’t even heard of. These businesses may not have the name recognition of the big dogs, but they rank right alongside them in employee satisfaction.

Here are the top small and medium companies to work for in 2016, according to their employees:

1. Madwire

Employees at the digital marketing software company Madwire enjoy an atmosphere that feels like family.

The company, says one employee, is “extremely rewarding for the hard working, self-motivated individual.”

2. Grand Rounds

“Grand Rounds is the  most amazing place I’ve ever worked,” says one employee of the healthcare technology company.

The team appreciates working with “brilliant, inspiring and compassionate” leadership towards a meaningful mission.

3. CloudLock

Working for cybersecurity company Cloudlock is about being part of a great team.

“This is the most constructive, collaborative and genuinely helpful group you could imagine,” reports one employee. “…There is a culture here of working hard, being helpful and seeing your ideas take shape.”

4. Instructure

If you used Canvas at your school, college or university, you’ve already seen what Instructure can do. The Salt Lake City–based education software company sticks to its core values and stresses openness, even as the team grows.

“I felt comfortable reaching out to pretty much any of the 500+ employees if I had questions,” reports one past employee.

5. WillowTree

Employees of the Charlottesville, Virginia-based mobile app developer WillowTree love the people and environment at this small company. They also genuinely loving the work they do.

“I wake up each morning excited to work on my projects, which span all sorts of industries and subject matter,” says a UX strategist.

See the full list of Top Companies to Work For in 2016 at Glassdoor.

Your Turn: Are you surprised by the companies on this list? Would you consider working for any of them?

Dana Sitar (@danasitar) is a staff writer at The Penny Hoarder. She’s written for Huffington Post, Entrepreneur.com, Writer’s Digest and more.

The post Looking for a New Job in 2016? Here are the Best Places to Work You’ve Probably Never Heard of appeared first on The Penny Hoarder.

source The Penny Hoarder http://ift.tt/1RbSpus

Top 10 Tips for Becoming a Successful Freelancer

By Angie Nelson Becoming a freelancer and working from home has many benefits, not least, the fact that you are your own boss. Setting your own working hours, your own rate of pay, and when you take your coffee breaks might sound easy, but in fact setting the basics in stone before you have actually […]

Source The Work at Home Woman http://ift.tt/1NHPgA9

‘Greedy’ CEO Martin Shkreli’s latest purchase

HE BECAME the most hated man in America for buying medicine and dramatically hiking the price. Now he’s bought something no one else in the world can have.

Source NEWS.com.au | Business http://ift.tt/1IGEJoz

Coles slammed for drivers on drugs and unsafe trucks

TWO Coles truck drivers have tested positive to drugs and “systematic” safety failures have been found with its heavy vehicle fleet after more than 60 officers swooped on its major distribution centre today.

Source NEWS.com.au | Business http://ift.tt/1NjUajb

Australia’s favourite brands of 2015

THE march of the private labels continues. Two of Aldi’s home brand products have been named among Australia’s 10 favourite brands of 2015.

Source NEWS.com.au | Business http://ift.tt/1NWP4in