When you buy a sale item are you really getting a deal? When something is popular and in high demand you will almost never see it on sale. The main two reasons for something going on sale is, one there is an overstock of the item and the demand is not what they had anticipated. The next reason the season is changing, or an updated replacement item is coming out soon and they will need to dump as many as they can, or they will be stuck with it. The bottom line your friendly local store is not putting these items on sale because they want to provide you with the best deals possible. That is why you see sales usually in areas with a bunch of competing stores. Anything you see in any store for a long period of time on a sale rack and no one is buying means the store is taking a loss in profits. If you do not believe me, the next time you see something on sale that been sitting for a while go to the salesman and tell them you want to purchase that item but you want a better price and watch they do whatever it takes to get you to leave with thesaid item.
When you buy a house with little or no money down it is a good thing, right? Maybe. The only time I suggest buying a house with little or no money down if you have a good plan. One is shopping around for a great deal next could be buying an investment property.
There is a fine print that is overlooked when you place less than 20% down. The bank makes you take an extra insurance plan, this is unknown to most first-time home buyers. This will cover the bank just in case you default on the loan or damage the house. I think the term is for 5 years or when your house hits a certain amount in equity. So, by putting down at least 20%. you waive the mandatory extra fee. This small insurance could run you a few thousand, and it does not count towards the principle. Would you rather put your money toward more equity instead of fees? Another thing to watch out for when you have a low credit score this will increase your interest rate for the loan. Even a point or two could add an extra 50,000 to 100,000 thousand dollars in interest on your total cost depending on the amount of the house. So, for this blog higher down payment is good unless you are investing your money so you won't have to pay the mortgage like the rich aka Jay-z, Bill Gates, and a few others that will be another blog for another time.
If you are anything like me or how I used to be. I would walk into a dollar store looking to purchase one or two items, by the time I get to the counter I either have a shopping basket or cart with about 20 items or more. Most of the things people buy from a dollar store are considered just in case items. Things we might not ever use but it would be good to have JUST IN CASE. After a while, your house becomes cluttered with useless junk. Then you throw some of the stuff away, and again a few months later you will repurchase the same items again. Who knows you might need them just in case. This is not a deal it is only considered a deal if you buy something and get yourmoney's worth from it. If the items are cheap and break like most of the dollar store's inventory end up doing, then you did not get a deal.
I never understood the sayingFREE TRIP. Why use the word free? If it is truly free, I shouldn’t have to pay for anything. Not the taxes, not the travel expenses to get there, not the tips. I should not have to give up a few hours of my time listening to a sales pitch. I do not feel I have to buy an overpriced item to get something for free, this would be considered adding it in the price already. Just like when you buy an expensive sandwich from the store and they say it comes with a free soda. The next time you hear “You only have to do or pay” walk away and save your money.
Buying a timeshare is the biggest rip off ever. You enter a contract to own a shared piece of property with an unknown amount of people. you supposed to be able to take a vacation when you want, or a choice of another place included as a perk. Too bad when you go to use your vacation home it is not available. Plus, you still must pay a small surcharge to stay at your own place. You do not know who else was sleeping in your bed, you can only book for a certain amount of time not too lengthy. That is because others must have access to their vacation as well. You cannot just decide tomorrow I want to go away if you do not make a reservation (weeks or months in advance) you will not be able to stay there. Here is the good part, if it is not available, they can refer you to another spot with a discount (still paying more money). People feel they are getting a deal because your rent, mortgage, or whatever they refer to it as is extremely low. You cannot sell the property because technically you do not own it. You really borrow it from time to time. Some people get so frustrated they will just go book a vacation without even using the timeshare resources, so this is absolutely not a deal.
When you are in debt and looking for any way out consolidating your debt sounds like the best course of action. This is ideally a good plan, but you must be careful who offers you the deal. Credit card companies are in the business of making money. They know that people that go into debt seem to repeat the same bad habits. Once they clear their bill they start spending again. That means that they will not be able to pay off the debt within their introductory rate timeframe. Once this had passed you will end up paying more in interest and fee than you would have the other way. It is only a deal if you are fully paid off by then. So, you ask yourself and be honest would this turn out to be a deal for you?
Getting A Deal On A Car Loan.
There is no such thing as getting a deal on a car. Car loans set you up to fail. I cannot tell you if it is better to buy a car straight up (used) or if there is any car loan that is not geared to rip you off. As you know as soon as you drive a car off the lot it loses some of its value. Let say you get a loan for acar worth $25,000 as soon as you sign the paper and go home your car is now worth only $20,000. Day one you are in a hole; after you finish your 60-month payment plan your $25,000 car is now only worth maybe $10,000. You end up paying a total of maybe $29,000 with interest, taxes, and fees. Now you tell me where does your deal come in at?