FSF: ArtDC and Post-Its

Art, art, everywhere I look! DC has long been a cultural hub, but the up and coming arts scene is finally giving DC its just deserts with ArtDC. Featuring over 85 galleries, including some homegrown ones, the four day fest promises to be a feast for the eyes. And, today, the normal $12 admission is waived! Doors open at 11 am and close at 7 pm. Check it out if you are in the area.

Though none of my doodles would probably qualify for ArtDC, it's always useful to have some goods on hand in case inspiration strikes. Check out some free supplies for your next masterpiece (or just a masterful to do list): Post-It Sortable Cards.

$15 Tivo/Amazon Unbox Credit -- Until 04/30/07

I love Tivo. I can honestly say that it's one of the devices in the last decade that has truly made a large impact in my leisure time. No longer a slave to arbitrary show times, I am free to come and go as I please, and I can skip through all those enticing ads that make me want to spend money on things I don't need! Tivo was the initial innovator in DVRs, and with its partnership with Amazon, shows its potential to keep on coming up with brilliant ideas like this one: Unbox.

With Unbox, if your Tivo is linked up via the internet (sadly mine is via my phone line), you are able to make purchases from Amazon for rent or purchase all by just clicking on the website. No more waiting for DVDs to arrive in the mail or going to the store to browse a movie. You can do it all from your living room.

Intrigued? Amazon and Tivo sure hope so. Until April 30, when you sign up your Tivo, Amazon will give you a $15 credit towards your Unbox purchases. If you do take advantage of this offer, I'd love to hear about it and hear how it worked out for you.

(Note: Not good for DIRECTV TiVo subscribers, TiVo Series1™ owners, or TiVo subscribers who use a telephone phone line to access the service).

Tips for Saving for Retirement, No Matter Your Age

Saving money is not always easy, and saving money for retirement is sometimes the most difficult financial hurdle of all because of its haziness as something that exists off in the distant "FUTURE" (Insert Twilight Zone Theme here). As we get older, different financial obligations arise, even further complicating the matter.

For example, in my twenties, my focus is a balancing act between saving for retirement and more short-term goals like putting away money to go back to school or saving for a down payment. Given my age and the (depressingly) long stretch of time until I retire, I have time on my side and can allocate my money aggressively, to more risky investments. The same is not true for someone perhaps in his forties, also concerned with retirement, but with a family to help support, kids in school, and a mortgage.

Bankrate addresses the need for differing approaches for saving for retirement in a segment that gives targeted tips, no matter what age you are. I read the tips for those in their twenties and thirties and found my own approach to be spot on their recommendations, so I heartily suggest you take the time to check out what BR has to say.

Check out your age bracket here: (Don't worry, I won't tell what link you clicked!)

20s
30s
40s
50s+

Are Store Credit Cards Worth It?

Since my recent move, I have been up to my ears in new purchases (or so it feels), so who can blame me for trying to defray these costs a bit? One such way was to open up a credit card at the department store where I bought my new mattress. Whether or not this was a good move, really depends on how well I pay attention to when the promotional period (10 months) ends. If I don't, there's a great chance that I end up scrapping any savings I might have had. The Fool's article on the very subject tells even more things to watch out for and whether or not opening a store credit card might be a good idea for you.

Spring has officially arrived, heralding the season of home improvement projects, yard work, and home organizing. Not so coincidentally, you'll notice teaser rates on store credit cards popping up all around you, especially from retailers like Home Depot and Lowe's. But they aren't making these offers out of generosity; teaser rates make the store money, often at substantial cost to you.

The Promises
You've seen the compelling promises: "0% interest for 12 months," or "No payments until 2008." Both imply that you get to borrow money from them free for a year. Is that brilliant marketing or what? The trouble is that what makes fabulous advertising copy often involves obfuscating the truth. The reality is that one little slip -- like forgetting when your promotional offer ends -- can leave you owing the original amount plus huge interest payments backdated to your date of purchase.

The Pitfalls
-- Confusing these two types of offers. With 0% interest offers, you are typically obligated to make minimum payments during the "no interest" periods; if you miss a minimum payment, say goodbye to the interest-free grace period. You'll be stuck paying off the balance with a high interest rate to boot. With "no payment" offers, you're not required to make payments for a certain time, but if the balance is not paid in full by the end of the promotional period, you'll owe all that backdated interest on top of the purchase price.

-- Purchasing extra stuff to reach the minimum purchase requirement. Don't convince yourself you are "saving" money with one of these offers if it means you buy a higher-priced item to qualify for the deal, pad your shopping basket with unnecessary purchases, or spend more than you can afford.

-- Forgetting when time is up. It's easy to remember when your interest-free period is up because the credit card company will send you regular statements, right? Not necessarily. You may receive no statements during the promotional period at all; the first notice you may receive from the company, beyond the original cardholder agreement, is a nice, big, juicy bill.

-- Failing to read the fine print. In addition to all the other nasty little details, you'll want to check to see whether your store credit card agreement includes a universal default clause. A universal default clause is a scary bit of wording that stipulates that even if you're in decent standing with your store credit card, late payments on other financial obligations can allow the store credit card lender to raise your rates. Sometimes the rate hikes are exorbitantly high. Yikes.

-- Not thinking about your credit score. Your credit score may be negatively affected if you trigger the universal default clause or simply because you're carrying a balance. A mark on your credit could pack a big punch, especially if you anticipate a large purchase (e.g., a home) anytime soon.

When You Should Go for It
Stores keep offering these deals because most folks simply don't pay off their balance before the teaser rate ends, which means a huge windfall for lenders and retailers. But if you're disciplined about money and organized enough to keep track of when your teaser rate ends, then you may be able to put these deals to work for you. Pay off your balance in full by the end of your promotional period and you will have outfoxed the fox.

DC Ethnic Food Guide

Admittedly, this is only loosely related to personal finance (though it does have to do with spending your money on quality things and getting good deals), but I found an excellent website today about the best ethnic restaurants in DC, written by a professor of economics at George Mason: Tyler Cowen's Ethnic Dining Guide. Mind you, I've heard the claim that DC has no soul, and to some extent, agree with it, but there are still some very good eats to be had at some authentic and cheap places.

The place on the list I'd most like to visit? Thai X-ing, which evidently only has one table and one cook. The review makes it sounds like an Asian food lover's paradise. I just need to convince someone that cramped and quaint are just two shades of the same color so they'll come with me.

Who Built the Ark? Well...you did.

I love the analogy that an emergency fund is like Noah's Ark that Everyday Money makes. I would appreciate the shout out to the Good Book on its own, but the post also makes an excellent point: Where would Noah have been without his ark?

When it comes to personal finance, an emergency fund is your ark and salvation in tough times. I know you are saying, "But, Financista, I am barely scraping by as it is." I would say to you, my child, it's time to take a look at all of those "necessities" that are part of your budget (you do have a budget, riiight?) and cut out some fluff. There are many ways to scrimp and save, but just do whatever you must to get together at least 3-6 months of living expenses in case something should happen, like an illness or death in the family, a job loss, or even on a smaller scale, your car breaking down. (A new plasma screen does NOT fit into this category, nor do those cute flats at the Macy's shoe sale).

How to do it? Well, here's a few quick ways to save a couple of bucks a month:
- Cancel Netflix or BBO and establish a recipriciocity agreement with a few friends (you take one of their DVDs and they get one of yours. No Thieving Toms allowed).
- Brew your own coffee at home -- or better yet, get rid of it all together! (Hopefully those caffeine shakes will hit the road as well).
- Bottle your own water and throw them in the refrigerator whenever you need a cold beverage.
- Check out Craigslist or Freecycle for the next random blender or chair or shelf that you need.
- Go out for Happy Hour instead of late night -- carouse and have fun, but pay a lot less. Lots of times there are good deals on food as well.

Building your ark is a top priority, on par with paying off credit card debt -- it's that important. It's best to be prepared because unlike Noah, God does not tell most of us when the flood is going to come.

FSF: Folgers Sample

Weeks like this past one made me yearn for a good pick-me-up (and Ryan Adams was nowhere to be found). This sample from Folger's could have been a good fall back choice . Check out the free sample here.

Free Time?

My current answer to that would be, "what's that?" For all of you faithful readers out there (hi Mom), you may have noticed that my usual steady trickle of posts has dropped off a bit of late to a bare drip. Things are hectic at work, etc., but that doesn't stop me from dreaming of the things I could be doing. For example, some handy dandy DIY projects! (I adore arts and crafts). Here are two courtesy of Wikihow that I plan to complete once the dust settles: How To Turn a Book Into A Picture Frame and How To Make an Orange Juice Picture Frame. Both sound like oodles of free fun and involve doing a few of my favorite things -- saving money, repurposing something, and DIY.

FSF: Free 16x20 Digital Print

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Thanks to Andrew for letting me know that the link below seems to be DOA. They must have pulled it. Sadness. I hate to be a misinformer. To make it up to you, at least those of you on the East Coast, Baskin Robbins is offering a free scoop of ice cream until the 13th, which I hope you can enjoy. Check out the link here.

With spring in the air, trees a-blossoming, bunnies a-hopping, and people a-smiling at the thought of warmth on the horizon, get out and capture some of those great spring moments with your digital camera. Take advantage of Kessler Color's offer for a free 16x20 print of one of your better snapshots.

Emigrant Direct No Longer Offering Third Party Debits

For some of you, this is small fries. However, to me, this is a BIG PAIN. Currently, my paycheck is directly dumped into my Emigrant Direct (ED) account, and my rent, student loan, and credit card payment are all debited directly from it. This was a great little system while it lasted. I first heard of this alarming news no, not from Emigrant Direct, but from Jonathan at My Money Blog (on whom I have a small crush if you couldn't tell by the amount I reference his site). Check out his post about the policy change from ED.

Thus began my quest for a new account. After much consternation and comparison shopping, I've settled on the GMAC Money Market Account (MMA) for several reasons:

A. Free Checks and Limited Check-Writing Ability (an improvement from the online-only ED). You are allowed six outgoing transactions, whether via debit card or a pull of money from your account (i.e. to pay a bill). The six outgoing transactions is standard fare, so that's no surprise. If you exceed that limit, it's $10 per extra charge.

B. Check Card (another improvement from ED).

C. ATM Fee Reimbursement. Refunds for up to four non–GMAC Bank ATM charges per month and no transaction fees from GMAC itself, up to a total of $6.

D. No Monthly Service Fees. This is true if you maintain a $500 balance. If less than $500, fees do apply -- $5 per cycle with direct deposit and $7.50 per cycle sans DD.

E. Higher Yield -- 5.10% versus 5.05%!

Take down the sign, folks. I'm sold. However, if you're not, and you are in the market for a new account, you really cannot go wrong with Bankrate or the Banking Guy. The two combined offer almost unrivalved thoroughness.

It's All About the Fundamentals

Morningstar has a nice basic article for younger folks about some fundamentals of what to do with your money. Their advice is to budget, save, and plan. The advice about setting a financial timeline is especially worth considering.