Unfortunately, my stance on Amazon has changed slightly for my personal buying decisions and I wanted to explain here about Amazon, Amazon Prime, and Amazon Prime Day.

Are There Good Amazon Prime Day Deals?

This is the question I get most when they have learned I am no longer a Prime member, but to be honest, this is the first year I won’t be partaking in Amazon Prime Day. There are a few reasons, but over the course of the past few years, I found myself buying junk I didn’t need because it was “on sale” with Amazon Prime.

But was it really on sale? That’s the big question that I couldn’t answer easily. What was the price before it was a lightening deal on Amazon Prime Day?

I couldn’t easily answer these questions when I was buying over the past few years. I do think there are some deals to be had, but Amazon has been accused of increasing prices before Prime Day in order to drop the price back down to inflate the “deal”.

This isn’t something that just Amazon does, but most retailers to be honest. Kohl’s is one of the worst for this tactic to make people think their merchandise is always on sale and you are getting a deal.

How You Can Check the Amazon Deal

If you don’t know what the price was before, then how can you know if you are actually getting a deal?

Amazon (and other retailers) do a great job at making you feel that the deal in front of you is “exclusive” and only for a short period of time. Many times, this is not the case and these deal are inflated with pricing tactics.

CamelCamelCamel

This is a funny name, but this website is what you want to use before Amazon Prime Day to make sure you aren’t getting shafted with the “deal”. This free website tracks pricing for millions of Amazon products and will show you how that pricing is, what it has been, and highs/lows. It’s a treasure-trove of information for you Amazon shoppers.

You can just put in the product URL from Amazon right into the search box at the top of the site and see what the historical pricing has been. This would be good to do on Amazon Prime Day itself.

Here is an example of a 8-pack of AA Amazon Basic batteries. I use this often and have large packs of them for stock supply. If you put the URL into CamelCamelCamel, you can see below that it has a high and low price and right now the pricing is right in the middle. These are supposed to be on sale for Amazon Prime Day so I can now track these easily to see if they actually drop and to what level.

Why I Cancelled My Amazon Prime Membership

Not exclusive to Amazon, but I have found over the years that Amazon was causing me to part from my money faster than I cared to. With their ease of use, fast shipping, and simple return process, shopping at Amazon has been a no-brainer for me. That was until earlier this year when I decided to look back at my last year of purchases.

I had 182 deliveries over one year!

Yes, you read that right, I ordered 182 things and I can’t even remember what most of them were. That was a big issue for me. Amazon had me so good with their app and recommendations that they could part me from my hard-earned money faster than an ice-cold beer is gone in the summer time. I had to make a change, so I decided to cancel my Prime membership.

We didn’t get much out of the Amazon video service since we already have Netflix, Hulu/Disney+ so we had enough streaming for our needs. So Amazon’s videos just didn’t get watched much.

I realize I’m not saving a ton of money per year from not having Prime (only about $150 per year), but where I am saving money is by not buying on Amazon unless I need to and since we are close to a big distribution facility, I still get my orders within 2 days for the most part.

Those 182 accounted for thousands of dollars over the last year and that’s where I save the most money. Since I realize now that most of those orders were just “because I was bored”, I know I will be saving a lot of money without Amazon Prime.

Now, I just hope I can keep my buying tendencies down when Amazon Prime Day starts this year.

Do you buy Amazon products on Prime Day? If so, have you gotten any good deals? Or at least perceived deals?

Today is a special day for those of you who have sons and/or daughters. I wanted to wish all of the fathers out there a Happy Father’s Day!  I’ve only been able to celebrate this day for a few years, but it is already a special day for me. My two boys mean the world to me and though they don’t understand the meaning of this day, I enjoy spending it with them.

It’s a different feeling when you are a father compared to when you are celebrating your father.  I do think that fathers get the short end of the stick with the holiday.  Though we get a day just like Mother’s Day, the celebrations are not as elaborate.  It has been shown that people tend to spend more money on Mother’s Day gifts than they do for Father’s Day gifts.  Luckily, I’m not a big gift person. I’d rather enjoy some time off spending time with my kids and my Father. That makes it a special day.

That’s why today I’m celebrating with steak tips and good beer while grilling with my family. Nothing better in my mind. I don’t mind spending a bit more than I normally would to enjoy the day. It’s a once-a-year celebration so why not!

I hope all of you get to celebrate with your family and maybe have a chance to relax. I wrote this letter to my father a few Father’s Days ago and I wanted to send it back out to him as a reminder of how much I respect and love him. I’m luckily that I get to spend this day with my dad and I want to make sure we never take it for granted.

My Dad taught me everything about money. While I made a lot of mistakes with it in the early years on my own, I wouldn’t be where I am today without his guidance and help understanding the idea of growing wealth beyond average. He is a huge part of my success in life

A Letter to My Father

Dear Dad,

As I have grown up, I have realized that I am truly thankful for having you in my life.  Through the ups and downs, the thick and thin, you have always shown resilience and will power.  You have taught me how to succeed in life without holding my hand the whole way.  You gave me the proper tools to get ahead in life and to create a lifestyle that I wanted.  Yes, I made mistakes, but you were always there to back me up and put me back on track.  For that, I thank you.

I never comprehended how much you worked to provide for our family until I was older.  Maybe it was because I was selfish and wanted to worry about my own life, or maybe I was naive.  I don’t know, but I truly understand what you have done for our family.  You never sat around waiting for things to happen, you went out and created opportunities.  I truly respect how hard you work and the things you have accomplished in life.

My friends have always told me how interesting you are, but I never really got it.  It’s probably because you are my Dad, and I have heard your stories before.  Now that I step back, you really are a very interesting man.  You have done things in life that many people only dream of.  Not only have you done them, but you have succeeded doing them.  That is something to be proud of.

One thing that I have learned in the last couple of years is what it takes to be a man.  You never really understand this fact until you get out of college and into the real world.  You truly don’t understand it until you have a child.  Being a father is not just about taking care of your child.  It is much more.  It is about taking care of your whole family and teaching lessons without even speaking the words.  It is about lifting your family up when they are down and pushing the family through when times get tough.  A father’s role is tough, and you excelled at it.

As a young kid, I always thought that the measure of success was how much money you made and how many cool things you had.  How wrong was I?  I have learned over the years that success really doesn’t have anything to do with money.  I think success is all about what you have accomplished in your life and experiences you have gained.  One can measure money, but it is much harder to measure accomplishments.

As I look at you, I know that you are truly a success.  You have worked hard, raised a family, started businesses, become a grandfather, traveled locations around the world, and many other things that I don’t have time to list.  Based on these factors, I know that I don’t have to worry about how much money I have or how much I made, I want to create opportunities and experiences.  That is success to me and I wouldn’t be able to achieve that without you.  Your passion, your drive, and your knowledge is inspiring.

There is no other man in the world I can compare to you because you are in a class all your own.  Having said this, I want to make a promise to you and I hope that you make it back to me.  It is time that we spend more time together.  We need to stop making excuses and just make time.  I want my sons to enjoy playing with his grandfather and as you know, they are growing up too quickly.

Let’s go get spicy food and let’s travel the world creating more memories and experiences.  Let’s go eat some good ol’ barbecue and drink some great beer.  There are so many things that we can do, but we just need to make time.  So, what do you say?

Love,

Your Son

Grayson had spent several years building his side hustle that eventually enabled him to quit his full-time job and become a full-time entrepreneur. While it may not be a walk in the park, working part-time jobs or having a side hustle can present an excellent opportunity to improve your financial standing in various areas of life.

Additionally, depending on your current job satisfaction, it can also provide a more meaningful and gratifying way of living. A side hustle can offer an array of benefits, from expanding your skills, testing business ideas, networking with like-minded individuals, to generating passive income streams- all of which can help you prosper financially and professionally.

Although starting a side hustle can be a great way to earn extra income, it is not always a simple process. In fact, some side hustles require a significant amount of financial investment to even get started, which can be challenging if you are unsure about the potential financial return or if you are already dealing with existing debt.

This can lead to apprehension about investing more money into your new venture, and may even halt your progress before you’ve even begun. There are several factors to consider when embarking on a side hustle journey, including the type of hustle you want to pursue, the amount of time and effort you are willing to dedicate to it, as well

Fortunately, there are various side hustles that one can start without spending any money, although they require some time investment. If you’re interested in getting started, we have found six free side hustle ideas. These include online tutoring, freelance writing, pet-sitting, delivering groceries, website testing,

Part-Time Jobs

A considerable advantage of part-time jobs is that they often don’t require any financial investment to begin. While some side hustles may require a specific uniform, most employers will provide one, and the only expense you might have is the cost of transportation, although this may vary depending on the job location.

Despite the fact that these jobs might not be glamorous or straightforward, they do offer a way to earn money to further your financial goals. Additionally, there are many types of part-time jobs available, and although they may have varying levels of difficulty and require different skill sets, you are likely to find one that suits your needs and interests. By engaging in a part-time job, you can earn some extra money that can be used for savings, reducing debt or any other financial plans you wish to accomplish.

If you are on the lookout for part-time job opportunities, exploring websites such as Indeed.com and Snagajob.com can be beneficial. These sites provide a comprehensive list of companies that are currently searching for part time workers.

Freelance Writing

When starting out as a freelance writer for blogs, one may not have to spend any money on equipment if they already own a computer that can be used for their business. However, if one does not have a suitable computer, it may be necessary to invest in one to get started. Besides a computer, the essential requirements for freelance writing are an internet connection and a decent ability to express oneself in writing in an engaging manner.

It is worth noting that having a personal laptop or desktop is not mandatory but it can improve productivity and provide a more comfortable working environment. Additionally, investing in a good internet connection is important to ensure that you can submit your work seamlessly and promptly.

It is advisable to identify a suitable workstation or desk with a comfortable chair and make sure that your environment is conducive to creativity and productivity.

The easiest places to start finding freelance writing gigs is Upwork or Fiverr. You will start off with lower pay, but you can improve your skills and increase your prices over time.

Although it is possible to begin this undertaking without spending anything, creating your own blog can significantly enhance your efforts. Despite the cost, which is typically below $100, the potential financial gains can be substantial if you put in the necessary effort and hard work. A blog can serve as a platform to showcase your expertise and share your thoughts and ideas, attracting and retaining an audience over time. We recommend starting a blog using self-hosted WordPress. If you need help setting it up, contact iMark Interactive.

Pet Sitting and Dog Walking

If you are an animal lover and looking for a great way to earn some extra bucks, then walking dogs or dog sitting can be a perfect side hustle for you. It is both free and easy to get started as the pet owners provide you with all the necessary equipment and food to take care of their furry friends.

However, it might take some effort to find people who are willing to let you take care of their pets. You can start with reaching out to your friends, family, and neighbors and asking them if they know anyone who needs a pet sitter or dog walker. You can also advertise your services online and on social media.

Remember, building up a positive reputation is key to finding more clients and growing your business. So, always provide top-notch service and take good care of the pets you are looking after.

Two online apps that can help you become a walker and sitter are Rover and Wag. These take more time to get set up because they have requirements to provide services on their platform.

A practical and cost-effective suggestion for finding pet-sitting or dog-walking gigs is to browse through local ads on Craigslist. This popular online platform provides a wide range of user-generated classifieds, including job postings in the pet-sitting and dog-walking fields. You might also want to consider creating your own advertisement on Craigslist to promote your pet-sitting services or dog-walking expertise – this is a great way to increase your exposure and reach potential clients at no cost.

By leveraging the power of Craigslist, you can jumpstart your pet-sitting or dog-walking career and connect with pet owners who

Yard Work and House Maintenance

Taking care of your own yard requires a diverse set of equipment, such as mowers, leaf blowers, hedge trimmers, and more. However, if you have these tools at your disposal, you can use them to make some extra cash by providing similar services to your neighbors.

While it can be hard work, working on lawns and gardens is also a perfect way to enjoy some outdoor time, get some exercise, and take in the fresh air. Although competition may be fierce when it comes to finding and keeping a side hustle in this field, starting small within your vicinity can provide you with the opportunity to grow your business as a reliable and trusted local service provider.

I have witnessed children within local communities who offer similar services for a nominal fee, yet they are actively striving to earn some extra cash by putting in the effort. It is admirable to see their drive and work ethic to support themselves financially, and it is difficult to find any fault with this.

While manual labor isn’t as glorious, it pays really well because most people don’t want to do it. Here is a pro tip, advertise your services in wealthy neighborhoods. Most are happy to pay someone to do things they don’t want to do and have the disposable income to do it.

Cleaning Homes or Businesses

While residential cleaning tasks are mostly assigned to daytime hours, cleaning businesses are generally carried out during the evening or weekends, allowing you to manage this side hustle alongside other jobs or personal projects. It is essential to note that some clients may require you to supply the cleaning equipment.

However, as a beginner, you can structure your business model to allow clients to provide their cleaning supplies, thus eliminating the need to purchase costly equipment, subsequently decreasing the startup cost and easing the entry barrier. Moreover, creating a list of needed items like gloves, masks, or cleaning agents, if at all required, may help prepare your clients for cleaning sessions and provide a professional outlook to your cleaning business.

Babysitting

Finding a reliable and competent babysitter can be a daunting task these days. However, if you offer your babysitting services during evenings and weekends and are proficient in your job, chances are that you will become a highly sought-after caregiver.

When babysitting in other people’s homes, it is not necessary for you to provide any playthings or equipment. Furthermore, if you are caring for children during mealtimes, you may often receive complimentary food, and while the little ones are asleep or settled in for the night, you may have the opportunity to watch television.

Two sites you can join to start babysitting are Care.com and Seeking Sitters. You can also check Craiglists ads or Nextdoor for people looking for last minute babysitters.

Have you fallen for a work from home scam in the past but still want to earn money without leaving your house? There are plenty of legitimate work from home opportunities that only require an internet connection to get started. Whether you just want to make money in your free time or have ambitions of earning a full-time wage, these are some of the best work from home jobs to choose from.

As a disclaimer, no matter the job, if you want to make money, you need to put in the work. None of these are get rick quick schemes and require time and effort to succeed.

Freelance Writer

An easy way to begin making money online is to become a freelance writer. Websites and blogs are constantly looking for talented writers that can connect with their visitors. And the best part is that you don’t have to be an English or Communications major to get started.

You just need to be knowledgeable about which topics you write about and can communicate effectively.  To create an online portfolio for potential clients to view, you might also consider starting a blog. When you are ready to land your first writing assignment, you can pitch individual websites asking if they are looking for a writer or you can also bid on proposals at Upwork.

Design Graphics and Websites

Can you make websites “pop” or are talented at making logos, graphics, and clothing designs? You can also make money from home as a graphic designer. There are many places where you can connect with clients including 99designs and CaféPress.

A few other channels to boost your online presence including starting your own website or starting an Etsy shop to sell digital goods and handmade items.

Design Websites

As people from all around the world flock to the internet to make money by selling goods online, they need a business website that lets customers view their inventory and ultimately make a purchase. You can get started by creating your own website and building a portfolio of your prior work. Gig sites like Fiver and Upwork can also help you connect with clients.

Affiliate Marketing

This route doesn’t have immediate income results, but, you can earn passive income. If you are already creating a blog or website to showcase your writing or graphic design skills, affiliate marketing is a natural next step.

You can make money by partnering with your favorite brands and recommending their products. Each time a sale is made courtesy of your recommendation, you earn a small referral fee. Although it takes several years, many bloggers have been able to quit their full-time job because of affiliate marketing.

Get Paid to Test Websites

You can also get paid to test websites as companies and website owners watch you interact with the various website menus, widgets, and layout in real-time. A good place to begin testing websites is UserTesting.

Virtual Assistants

Many successful websites and blog owners do not have enough time to create new content and adequately handle their everyday administrative tasks of a website. You can also be hired as a virtual assistant to manage a website’s social media accounts, edit posts, and even schedule posts and podcasts.

Proofread Articles and Books

Do you love grammar and ensuring there are no typos or misplaced commas? Get paid to become a proofreader. Businesses and authors are looking for professional proofreaders to look over their papers and books before they are released to the public. You can also make more money by proofreading legal transcripts.

Transcribe Audio Recordings

There is also a high demand for audio transcriptionists, especially for the legal and medical fields. The great thing about transcribing audio recordings is that you can earn money part-time or full-time. As you get paid by the audio hour, your pay can be even higher if you are extremely proficient at transcribing.

Customer Service Rep

Companies are ditching their on-site customer service locations and contracting the work to home-based customer service representatives. Some of these positions are seasonal like Amazon during the Christmas shopping season. Other companies are looking for full-time hires.

Companies require a fast internet connection, landline telephone, and a distraction-free work environment. While you can make money from home, you might not be able to field calls if you also care for a small child simultaneously.

Create an Online Course

If you have a skill that can be taught to others like navigating the latest version of Microsoft Excel or teaching a foreign language, you can create an online course. This is an excellent way to make passive income as you have the initial time investment of creating a course and students continue to buy it in the coming months and years.

You can sell your course on learning platforms such as Udemy, Teachable, or Thinkific. To attract more interest, you can also post small tutorial videos on YouTube and also sell the course on your own website.

Tutor a Foreign Language Online

People from around the world learn English as a second language and they need verbal practice to master their newfound skills. If you know a foreign language and possibly have experience as a foreign language teacher, you can get paid to tutor a foreign language. You can sign up at Verbal Planet and set your own hourly rate and tutor online with Skype.

Answer Surveys

If you are purely looking to make extra income in your spare time without a large time commitment, you can get paid to answer online surveys. Survey Junkie is an excellent option for taking surveys asking your opinion on a variety of topics. If you like variety, Swagbucks will quickly become an online favorite as you can make money taking daily surveys, playing games, watching videos, testing products, and even searching the web.

Summary

There are many ways you can make money at home thanks to the internet. Keep in mind that any legitimate work from home job requires a lot of effort, just like a regular job, to be successful. Although this method of earning income is still somewhat unconventional, the benefits gained by having a flexible work schedule and not having to commute can be very rewarding.

If you’re looking to work with real companies that hire work-from-home workers, then check out this list of over 50 from FlexJobs. These are companies that offer part time jobs to those who want to be remote and work from home. Some even offer benefits!

Need more ideas to earn extra money? Here is our list of over 100 real ways to earn extra money to help spark your money making potential!

Since writing this post, we have received hundreds of emails over the years with similar stories about Empire Today. They focus on marketing more than service and product quality. They basically outsource everything and don’t care what happens on your project unless you can get a good service rep. I would recommend you go with someone else for flooring. Local companies often do a much better job at a better price.

My wife and I decided to put new carpet down on our first floor.  Over the years, it has been destroyed by our two dogs.  It is beyond cleaning at this point.  Luckily for us, not our whole downstairs is carpeted.  We have wood floors in our kitchen, so that doesn’t have to be redone.  The new carpet will be good since we plan on selling our house at the beginning of next year.  Our upstairs carpet is still in good shape and could look great with a nice cleaning.  I will save that for another day though.

As with any project, I look at my DIY options along with get some recommendations from people that I trust.  I looked at the DIY option for putting in my own carpet, but I don’t really have the time or the necessary tools.  Though I try to do a project once on my own, I know my limitations.  I won’t take on something that I can complete to the highest quality.  So, with the DIY option out, I was on the hunt for a company that could provide me with the service I needed.

I talked with quite a few people that have recently had carpet installed in their home.  I got all of their reviews and opinions.  With the reviews and opinions, I found that Empire Today did a good job with most of the people that I spoke with.  You might know Empire Today, as it is one of the largest flooring companies in the US.  They do thousands of install jobs everyday.  I have seen great reviews, so I decided to try them out.

How to Hire Empire Today

Grade: A

Empire Today works by setting up an appointment for a salesperson to come to your house.  They will measure the square footage and then give you flooring options.  You can go to their website at www.empiretoday.com and setup a free consultation.  Many times they can do it the same day depending on when you set it up.  This is where they are super efficient.  You can also call their toll-free number at 1-800-588-2300.

I setup an appointment the day before and the salesperson was punctual.  One thing I noticed is that Empire Today hires out their sales organization to 3rd party providers.  This would explain why they can have quick turnarounds on their consultation appointments.  Many other companies do this, so I wasn’t worried.

Empire Salesman Experience

Grade: F

You know how this experience is. There is something about a salesperson.  I have never really met one that I trusted and that is for a good reason.  While there might be some really good salespeople, there are ones that just give the trade a bad name.  Unfortunately, the salesman that my wife and I got was one of those…. 🙁

The salesman that came to our house was very quick on his measurements and his explanations.  We told him that we weren’t looking for anything fancy for the house.  We just needed something similar to what we had in order to look nice for when the house goes on the market.  Should have been easy enough, right?

After the measurements, he went to get his samples.  He came back with a few, but not many.  He sat us down and started to work out some math.  Now, Empire Today was having a 50% off everything sale.  This means that it was 50% off the product, materials, and installation.  That means 50% everything.  That makes the math easy!

Knowing this information, the salesman allowed us to pick out the color and carpet style that we liked.  This is where the process went south, very south!  After he did his math, he told me his quote.  Eye-popping is an understatement.

Empire Flooring Pricing

Grade: F

You never really know what the quote is going to be with Empire. The sales people work on commission and are a third party. They can make up any number they want and since they have these “deals” all of the time, it can make it look more like a deal than it should be. While some indicate they have transparent pricing, I have not seen this in their flooring pricing. It seems to be completely up to the sales rep to push a price they want.

My $4,500 Quote

Yes, the quote for the carpet was $4,500 for just 610 square feet!  Now, I might not be a carpet installer, but this seemed really high.  But “luckily” for us, with the 50% sale, we could get the carpet for only $2,250!  Sweet….

Since I didn’t know what the true cost of installing carpet was in our area, I asked a simple question to the man.  What is the cancellation policy?  This is a great question to ask by the way.  Empire Today has a 3 day no-questions asked policy.  This was good enough for me.

The way Empire Today gets you is that they require that you sign the contract that day.  That is how you get their sale.  Now, this usually isn’t a problem for me if I know what I am receiving.  Unfortunately, I had a feeling that this man was blowing smoke.

In order to keep the deal, I asked him to just put down a 10% deposit.  Now, if I would tell you that I wanted to put down a 10% deposit on a $2,250 order, what would that amount be?

$225, right?

Well, my second clue that this person was not up to snuff as that he couldn’t do the math.  He sat and thought about it and then had to pull out a calculator.  This was when my lovely wife just spoke up and said “it’s $225!“.  The salesman’s response was just as stupid as his math, “Hold on, I am trying to calculate the deposit.“.  I just had to laugh.  People like this make me angry.

Either way, I put some skin in the game, just to make sure that it wasn’t actually a good deal.  The deposit was nothing and I put it on my credit card to get some points!  The salesman left promptly after we signed the paperwork.

Now, it was my turn to go to work.

The Revelation

I am not an un-informed consumer. I know how to do research and find out if you are trying to swindle me.  I always like to give a company one chance to make an impression.  It is up to them on how they choose to do so.  I jumped on my laptop and started looking around.  I even went to Home Depot and Lowes to compare the price that I received from Empire Today from their product and service.

It only took me about an hour to realize that this salesperson was just padding the hell out of his pockets.  I found comparable carpet products at both Home Depot and Lowes that were much cheaper.  By my calculations, I could have paid about $1,700 for the carpet, install materials, and installation.

With this information, I realized that Empire Today was not providing me with any 50% off sale.  They were just increasing their prices by double and then cutting it in half.  They were still higher than the average in our area.  Tisk, Tisk!

Armed with my easy findings, I decided to call Empire Today’s customer service.

The Customer Service Experience

Grade: B

I called the number and went though about two number punches in order to find my department.  It was quite easy. I was only on hold for about 30 seconds.  That is a much nicer experience than dealing with Time Warner Cable.  The lady rep that I got on the phone was extremely polite.  That is a great way to start off a call.  I proceeded to let her know about my experience with their sales rep.  I definitely let her know of my position on the whole experience and she was generally apologetic.

One of the things that she told me, which irritated me a bit, was when she told me that they aren’t responsible for the sales reps.  Since they hire a third party company, they don’t take responsibility of their actions.  Oh, NO NO NO!

Let me tell you one thing, Empire Today.  No matter where you get your salespeople, you are using them as the face of your company.  They are the first people that we see as consumers.  They are the ones that are supposed to build your brand.  I don’t give a crap if you don’t actually hire the reps, but you hired the company that does.  It IS your responsibility!

When someone tells you they don’t take responsibility for their reps, just cancel the order. Don’t keep going like I did. They aren’t worth it.

I was on the phone with this rep for close to 45 minutes.  The reason why it took so long as that she was working with upper management to give me a price that I would accept.  Once I get burned, I am much harder to please, so I made her work a little harder.  By the time, I got finished with the call, I didn’t cancel the installation.  The reason is that the customer service lady brought down the price to what it would cost me for just the carpet at Home Depot or Lowes.  That was acceptable to me.

This customer service agent did exactly what she was supposed to do.  She worked to fix my issues and did it politely.  I even asked for her manager and made a call to him to talk about how well she did.  Good customer service is rare, so I will do what I can to make sure the agent’s manager know.

The Installation

Grade: N/A

We scheduled the installation day for a week out because we were going to be out of town.  Another aspect of Empire Today’s business is that they have third party installers to do the work.  It is the same as their salespeople.  They just have a huge network of installers that are in your area.  This makes it much cheaper for them.

The installer came early, which was great.  They were very nice and polite.  The main installer asked if I wanted to review the materials before he brought it all in. Of Course!

He brought me to the back of the van and there it was….Utter Disappointment!

Are you f’ing kidding me?  So, the carpet that was brought was as thick as Astro Turf.  This was definitely not what we had picked out.  It was so hard and the color wasn’t even right.  I was pissed.

I realize now that when I was on the phone with the customer service rep, she probably changed the order to a cheaper carpet to get the price down, but just didn’t tell me. So that’s how they adjust their flooring pricing. They just give you crappier product at an inflated price, but it seems cheaper to you. Nice job Empire!

I didn’t get angry at the installer, because it was not his fault.  He was very polite and even told me that he didn’t think it was the right carpet.  He did a little digging and found that the salesperson changed the tags on the carpet in order to match the invoice, but it wasn’t the right carpet.  Luckily, the installer had the same product line in the van, but in a different color.  We compared and that was the confirmation that I needed.

I told the installer to wait and I called Empire Today again.  I got a different rep and this man was an ass.  He was very rude. I told him that we needed to cancel the order immediately. I gave him my reasons and he tried to counter them saying that it was what I ordered. I assured him that it was not and it was an inferior and unacceptable product. I wouldn’t even put that crap in a rental property.

After 20 minutes of back and forth, I finally told him that if he didn’t cancel the order, then I would be calling them in a few days when the carpet started ripping up (it was already coming out in handfuls when you put your fingers through it) and they would have to do a full install of new carpet. I told him to cut the loss now and move on.  He obliged and that was that.

I walked back to the installer and told him that I was done and the order was canceled.  He was honest and told me he wouldn’t even install that in his house.  I really liked that installer.  He was honest with me, even though he wouldn’t be paid for the job.  It just shows that there are still people around that will do an honest days work.

Overall Experience

Grade: D+

My experience with Empire Today was not a good one.  Yes, I gave them a D+ because they had one good customer service rep (not the cancellation rep) and their website is super easy to use.  I wish I could have graded the install, but since it didn’t happen, I can’t.

After going back and talking with the people that used Empire Today, they told me that their salespeople were really good.  I think this will happen when you have a company that uses a third party organization for its sales staff.

From my experience, I DO NOT recommend Empire Today.  I think that they have practices that are not ideal and they leave the pricing up to the individual salesperson.  This leaves the system open for manipulation.

Here is another example of Empire’s flooring pricing on Reddit. Just crazy quotes and price gouging!

I have to call into question the good reviews you see that they have. With so many contacting us over the years about similar issues, I’m skeptical about their 4.4+ star ratings you see. Funny thing is those numbers haven’t changed in nearly 10 years….strange.

Would you rather cash those coins for paper money? We have covered Coinstar and what it charges for counting unrolled coins. While we enjoy that service, not many want to pay nearly 12% for the convenience of counting coins. So what do you do?

There are some alternatives to using a coin-counting machine like Coinstar, but it takes some detective work or physical work. So let’s quickly discuss the alternatives to Coinstar and how you can use them to get cash for your coins.

Check Your Local Bank or Credit Union

If you have an account at a local bank, there are times when they will have a coin counting machine. Not all do, but some have them in their lobby. For members of the bank, this service is often free. If you are a non-member, they might charge you a service fee, but it’s often much less than Coinstar.

Credit unions most commonly have coin counting machines for their members and non-members. Unlike big banks, credit unions require you to be a member based on certain rules. If you can become a member in your local area, you often get really great service and much better interest rates than you would at a big bank.

You can use this button below to open a Google search looking for a credit union near you.

Roll Your Coins for Deposit or Cash

While we have seen banks not accept coins in the past, it seems with the coin shortage, they are happy to accept them now. Most banks will give you free coin wrappers so you can roll your coins. If you ask nicely, they often will let you borrow their coin sorting machine to help.

Banks will allow you to deposit coins into your account if you are a member at the bank, but some will also let you exchange wrapped coins for cash. Chase bank allows this with a $200 limit. If you have more than $200 in rolled coins, you need to visit different Chase branches.

If you have rolled your coins, then call around to some banks in your area to see if they will exchange them for cash for free. If you have a bank account that isn’t online only, then go to a branch near you, ask for coin wrappers, and deposit or exchange those coins for cash.

QuikTrip Gas Stations

There is a company called QuikTrip that has over 800 locations in 11 states that is providing free coin exchanges due to the national coin shortage (which is easing). You can use their site to find a store/station near you and all you have to do is bring your coins into the store/gas station to get them exchanged. They are not currently charging a fee for this service. So if you are in one of the 11 states this company resides, this could be a good way to get your coins exchanged for cash for free.

Cashing Out Your Coins FAQ

You see, this time of year gets me thinking. It’s summer time and many are enjoying their vacations, time off from school, and just all-around outdoor lifestyle. I like the summer time (minus the NC humidity), but the reason why it gets me thinking was due to what happened back in summer of 2006. It was not only the year I graduated college, but also when I transitioned to being an “adult.” Too bad my spending didn’t get the memo.

Fresh Out of College and Big Paychecks

When I was fresh out of college, I already had a job lined up.  I got an internship prior to graduating and was offered a job when I got out.  That was awesome for me and I enjoyed that first job.  It taught me a lot about the professional world and how college really doesn’t get you ready for it.

Either way, I was really enjoying getting those steady paychecks.  The one problem is that this job only paid me once a month.  I had never been paid that way before, so it was new for me.  I never budgeted a day in my life and was never ready to deal with a monthly paycheck. Heck, I wasn’t ready to deal with earning five figures.

When you get out of college and you start getting four figure paychecks each month, your mind might start to wander. Mine surely did and it ended up being one of my biggest money mistakes to date.

A Random Radio Ad and My Wandering Mind

One morning on my way to work, I heard a radio ad for a huge sale at a local motor sports dealership.  One dream (so I thought) of mine was to own a Jetski.  I have ridden a few in my years and loved being on the water and having the power.  Well, for some reason, this radio ad spoke to me.  You want to know why?  Of course you do…..

The only thing that I heard in the entire radio ad was the low monthly payment of only $69 and I could own a Jetski.  It would be mine and I could take it to the lake each and every weekend.  How exciting this could be?  This is what was going on in my head.  I mean, I was making big money right out of college, right?

When I got to work, I jumped online and started researching the deal and the Jetski that I wanted.  I probably didn’t work much that day, but it was a Friday.  I was super excited.  All of the cool bells and whistles for only $69!!

I was going to get my dream and only a month out of college.  Welcome to the American Dream!  I even called my wife and told her.   She really didn’t seem to care much, but she was a little hesitant.  Oh well, she would love it once I brought it home, right?

The Deal and the Excitement

I left work that day and drove over to the motor sports dealership.  I walked around in there for about an hour just admiring all of the toys. I was like a little kid in a candy store.  I love anything with an engine.  It has been this way for years and that is one reason why I have a Jeep in my garage.

After the hour, I found the watercraft that I wanted to bring home with me. The salesman approached to see if I needed help and of course I said yes.  Here comes the sales process and I was ready!

Related Read: This salesman caused me to bite!

The salesman was a really nice person and asked all of the right questions to which I thought I had all the right answers.  I knew how much I was making and knew that I could easily afford the $69 a month.  That was nothing in my eyes.  We started working on the paperwork and after an hour, I was ready to sign the paperwork.

$10,500

Do you see that number there?  Yeah, that is how much a new Jetski costs with a trailer.  But, does that matter when you only have to pay $69 a month?  Hell no, wait,  yes it does.  It makes all the difference in the world.  The salesman explained the deal to me and apparently I didn’t really want to listen.

I fixated on the low monthly payment. What’s another low payment when you’re making good money?

The $69/month promo was only the minimum payment.  That is the least amount they allowed you to pay on the loan.  This minimum payment was only good for 3 years.  Once that time was up, then you would be assessed a minimum payment that is calculated on how much you owe, kind of like a credit cards.  I was so excited about the Jetski that I didn’t listen to this man.  I knew that I could pay off the $10,500 in 3 years.  That was easy…..or so I thought!

The End of the JetSki Party

In the beginning of the purchase, I was loving my Jetski. I thought I was the cool kid on the block.  I was just out of college and had one of the coolest toys.  All of my friends wanted to go to the lake each weekend and ride it.  So cool….

I really enjoyed those times out on the lake and when we took it to the beach.  I had some good times on that Jetski.  That all ended when the 3 year promo deal expired.  The 3 years came and went and I only paid the $69 each and every month.  In the 3 years, I had only paid off $2,484.  Yep, I still owed over $7,500 after paying toward the loan for 3 years.  How depressing.

The next day of the 3 year mark, I received an email telling me that my promo was over.  Now, I was going to have to pay a larger minimum payment and interest on the loan.  Crap!  My minimum payment jumped to nearly $200 a month and I wasn’t prepared.

You remember that I wasn’t running a budget and it was catching up to me.  I had started racking up major charges on my credit card to fund my e-commerce business and I was only paying attention to the minimum payments.  Stupid, just plain stupid.

I was in trouble. Big trouble. My minimum payments reached the amount of my mortgage payment each month.

Another issue was I slowly stopped using the Jetski.  I used it a lot during the first few years, but then that usage started to go down.  It sat in my garage and didn’t get turned on much.  I just didn’t have time because of my business.  I still owed money on the loan and I was getting tired of paying that money.

Time to Sell

I realized that time had come to sell the Jetski.  It just wasn’t a good investment and I needed to get the loan off of my back.  Unfortunately for me and most people, you can’t just sell a vehicle (Jetski included) without having a clear title. This meant we would need to pay off the loan. In order to do that, we had to do something I still regret to this day. We raided the only savings we had left to break free of the loan.

Once we had paid off the Jetski, we wanted to see if we could get any money back with a sale. It wasn’t an ideal situation, but I wanted nothing to do with the stupid thing. It had to go!

Luckily for me, I have a brother that lives down near the beach and that is a great place to sell a Jetski.  I called up my brother and asked him for help.  He said he would be happy to.  I then took my Jetski down to the beach and just waited to hear back from my brother.

Months passed and I heard nothing.  Many people had looked at it, but no one wanted to purchase it.  I guess in 2009, it just wasn’t a good time to sell something like a personal watercraft.  Something with the economy or something ;).

I finally received a call from my brother when I was in West Virginia camping.  I couldn’t answer it because I didn’t have service, but he left a message.  I got it once we got to a place that had service.  He told me that the Jetski was not running properly.  It was broken.  Double Crap!

I told my brother to give it to a person he knew that was good with fixing this watercraft.  His buddy then passed it on to another person that was a specialist for my brand.  After hearing that it was going to cost $800 to fix the craft and I approved, I heard nothing else.  The person had my watercraft for well over a year.

He was one of those shifty business people that just takes money and doesn’t provide a service.  After emails and calls were exchanged, my brother and I drove to his business.  We knew we were going to be in for some trouble once we got there.  This man was just uneducated and created terrible stories about why he didn’t fix the problems.

This man was just terrible.  I asked him for a refund because he didn’t fix the problem and it appears he didn’t even work on the Jetski.  He just kept it outside, uncovered and let it rust.  He then blamed me for the rust problems and I told him sternly that I only kept it in the garage and my brother did as well.  Just more stories.

The man ended up forcing us to leave his property, but I made sure to take the Jetski with me.  It was still broken and there were parts missing.  It just ended poorly.

Long Story with a Crappy Ending

If you have stuck around to the end of this post, then I want to let you know what happened.  After trying unsuccessfully to sue the man and realizing that he had nothing to his name and his business wasn’t even licensed, I realized that I wasn’t getting my $800 back.

Now I have a broken and rusty Jetski that used to be worth thousands.  Now, it is worth nothing.  I was pissed and I still owed about $5,000 on the loan because of how long it took to get it back.  My only option after looking to see how much it would cost to fix was to sell it for what I could.

We raided our savings account to pay off the rest of the loan just in order to get a clean title. We had to get that before we could even put it up for sale in our state.

I put the Jetski up on Craigslist and had it sold in less than 4 hours.  Yes, just 4 hours and you know why?

I sold it for only $800!

Yep, I had multiple people ask about it and come see it in the same day that I posted it.  It was crazy, but people were only offering me about $300 for it.  I mean,it didn’t work and no one knew what the problem was.  It was also missing some key components.  Then a man came and offered me $700.  I told him that if he could do $800 and if so, then he could have it.  Done and Done!

Related Read: How to sell you car on Craigslist quickly and safely

The man took that huge money mistake off my hands and then I had to come to the realization that I would have to pay off the loan over time and have nothing to show for it.  What a way to go.

I felt like an idiot after I sold my Jetski.  It was a purchase that never should have happened.  I saw money coming in and I was partaking in lifestyle inflation.  I was being a stupid consumer and the only thing I had to show for it was a bruised ego and a nice loan. Terrible.

Buying the Jetski was one of my biggest money mistakes that I will always remember.  My wife and I still joke about it to this day.  She makes fun of me for getting it and I laugh, because that is all that I can do.

My Jetski Was a Life Changing Mistake

While I still think about that stupid purchase, I really can’t be too harsh. The reason being going through all of that and coming out on the other side, I realize I learned so much from it. I learned how I was using my money, where it was going, and my money mentality. My thinking was incredibly flawed. I didn’t budget, I didn’t track my money, and I didn’t care.

I do all of those things now and my financial life is much better because of it. I don’t have any debt outside of a mortgage. I own a business and work from home. I have a positive net worth that climbs every month. I use the Simplifi Money app to keep on my budget and track my net worth.

So, what is one of your biggest money mistakes?

Pay Cash or Finance Your Car?

There are only two ways to buy a car, whether it is new or used.  You can pay cash for it or you can finance it.  There are many ways to finance a car, whether it be dealer financing, bank financing, or personal loans.  No matter what way you split it, you still have to pay for the car.  I don’t want to discuss different ways to finance your car, but I do want to discuss when you should think about paying cash or finance your next car.  Let’s break it down, shall we?

Buying Your Car with Cash

Typically, you should always think about paying cash for your car.  You can either pay the full amount with cash, or you can do a split between cash and financing.  The more cash you put down, the less you have to finance.  The less you finance, the less you will pay in interest and the less debt you will have  It is just simple math.  Cash will get you a car with no strings attached and you will not have to make monthly payments.

The current average car payment for new cars in 2023 is $716 per month. The average for used cars is $526 according to Bankrate. This is huge part of most American household budgets, but if you put more down toward your car, you can reduce this monthly cost.

Many people used to pay cash for used cars because they are cheaper. That was the case until the Pandemic of 2020. This inflated the cost of used cars because new car supplies shrunk quickly. Paying cash for a new car would be very difficult for most people.  I don’t know that many people that have $50,000 in cash just sitting around.

The average cost of a new car in 2023 is hovering around $48,000 according to Car and Driver. That’s not attainable for most people with cash.

Having said this, I do think there are times when cash might not be king.  You might wonder where I plan on going with this and why a personal finance blogger might be advocating not using cash.  Let me explain below.

When to Finance Your Car

If you are in debt, then I DON’T recommend financing a car.  You are just adding more debt and you need to get your other debt paid off.  You can find yourself very underwater if you keep adding debt on top of debt.  Now, if you don’t have any debt (minus your mortgage), then there are times when financing might actually be a good idea.

Let’s say you have the cash to pay for a car, but you then get offered 0% to finance the car through the dealer.  If it was me, I would go with the financing.  Why, you ask?  The dealer is giving me free money to finance through them.  I can get into a brand new car and not pay a dime in interest for it.  Yes, I have to pay a monthly payment each month, but now I have my cash to do whatever I want with.

I would take the cash for the car and then invest it.  The average return on the stock market is around 10%.  Would you rather pay cash for a car or be able to finance it with no interest and then have your money make money?  I choose to make money if I can.

There is another reason why I would choose to finance and that is when you need to keep your cash liquid.  Not everyone can drop a lot of their cash on a car because it would leave them with nothing.  No back up funds, no emergency funds, nothing.  That is not a safe place to be in.

I have been offered used car loans from my credit union at only 1.49% APR.  I would even take that financing offer over paying cash for the car.  This is a very personal decision for me, but I would rather have the cash liquid or making money with investments.  Do you think it is risky to invest the cash instead of paying for the car?  I think it is, but you can’t gain anything if you don’t risk anything.  Just remember that.

What Should You Do?

This is the question you probably want me to answer for you.  Unfortunately, I can’t really do that because I don’t know your situation and how you are with money.  What I can tell you is that you should think about the possibility of paying cash or financing. It comes down to your personal situation.

This changes as financing costs go up as they have in 2022 and 2023. Rates pushing auto loans upwards of 6-7% make it harder to make a return when investing the money. So that could change your math greatly.

Make sure you look over what you can do. Don’t just finance the car because you can.  Do the math between paying cash and financing and then make your decision.  I wanted to write this to show that it is not always cut and dry when purchasing a car.  If you don’t ever want to add debt, then don’t finance a car and pay for it with cash.  If you don’t want to put all of your available cash toward a car purchase and can get a great, low rate, then finance your car.  There are options out there for everyone.

However, before you jump into a balance transfer, it’s important to understand the process and potential pitfalls. I will walk you through the steps of transferring a credit card balance, including how to choose the right card (depends on your credit), what to look for in a balance transfer offer, and how to avoid common mistakes. We will also provide tips on how to pay off your debt efficiently and effectively.

Whether you’re looking to pay off a large balance or simply want to reduce your monthly interest charges, a balance transfer can be a powerful tool in your financial arsenal. This method isn’t for everyone. You have to be dedicated to paying down the debt. Using balance transfers to temporarily reduce your rate is not the goal.

Why Transfer a Credit Card Balance?

Transferring a credit card balance can be a smart financial move for many reasons. In this section, we will explore some of the main reasons why people choose to transfer their credit card balances.

Lower Interest Rates

One of the most common reasons to transfer a credit card balance is to take advantage of a lower interest rate. Credit card companies often offer promotional rates for balance transfers, which can be significantly lower than the interest rate on your current card. By transferring your balance to a card with a lower interest rate, you can save money on interest charges and pay off your debt faster.

If you use your credit cards regularly, most companies will send you balance transfer promotions for 0% for 12 months or 18 months. The longer you can get the promotion, the better as it gives you a much higher chance at paying off the debt before interest charges again.

Consolidate Debt

Another reason to transfer a credit card balance is to consolidate your debt. If you have multiple credit cards with balances, transferring them to a single card can make it easier to manage your debt and keep track of your payments. Consolidating your debt can also help you save money on interest charges, as you can take advantage of a lower interest rate on your new card.

It’s important to note that this can affect your credit score due to credit utilization. While you will free up your open credit on the other cards, if you cancel them, this can ding your credit. It would be temporary though.

Pay Off Debt Faster

The main reason I used credit card balance transfers is to pay off the debt faster. When you get a promotional rate (the only reason you’d even do this), you are effectively only paying toward principal. That gives you the best change to pay down the most debt over the course of the promotional period. While there is a fee attached to transfer the balance, it’s far less than what the normal interest charges on a card.

For example, most cards charge between 3% and 5% to transfer a balance, but your normal credit card interest rate is over 20% APY. This effectively reduces your rate from 20%+ to the fee you paid. This is a good thing if you are focused on paying off this debt.

How to Transfer a Credit Card Balance

Transferring a credit card balance can be a smart move to save money on interest charges and pay off debt faster. Here are the steps to transfer a credit card balance:

Choose a Balance Transfer Credit Card

The first step is to find a balance transfer credit card that offers a low or 0% introductory APR on balance transfers. Look for a card with a long introductory period, ideally at least 12 months, to give you enough time to pay off your debt without accruing interest.

Compare the balance transfer fees, annual fees, and other terms and conditions of different cards to choose the one that best fits your needs. You can use online comparison tools or check with your current credit card issuer to see if they offer any balance transfer promotions.

Banks are fighting for your credit card debt. They will often give you a balance transfer promotion. You just have to ask.

Check the Balance Transfer Fee

Most balance transfer credit cards charge a balance transfer fee, typically 3-5% of the transferred amount. Make sure to factor in this fee when calculating the cost savings of transferring your balance. While it looks like it will cost you more, it’s saving you a lot in interest charges over the course of the promotional period.

Request a Balance Transfer

Once you’ve chosen a balance transfer credit card, you can request to transfer your balance from your current credit card issuer to the new card. You would provide the new issuer the information they need to transfer the balance. This typically includes your account number and issuing bank.

IMPORTANT – Only transfer over an amount you know you can pay off during the promotional period. The idea is to pay off that debt completely and then do it all again (talked about below as the balance transfer game).

It’s important to continue making payments on your old credit card until the balance transfer is complete to avoid late fees or penalties. Once the transfer is complete, you can start making payments on your new credit card.

In summary, transferring a credit card balance can be a useful tool to save money on interest charges and pay off debt faster. Choose a balance transfer credit card with a low or 0% introductory APR, check the balance transfer fee, and request the transfer from your current credit card issuer to your new card.

Tips for a Successful Balance Transfer

When it comes to transferring a credit card balance, there are a few tips that can help ensure a successful transfer. Here are some things to keep in mind:

Pay on Time

One of the most important things you can do when you transfer a credit card balance is to make sure you pay on time. Late payments can result in fees and penalties, and they can also cause your interest rate to go up. To avoid this, set up automatic payments or reminders to make sure you pay on time every month.

Pay More than the Minimum

While it’s important to make your payments on time, it’s also important to pay more than the minimum amount due. By paying more than the minimum, you can reduce your balance faster and save money on interest charges. Pay as much as you can to pay off the balance before the promotional period ends. This is the key to doing a balance transfer.

Avoid New Purchases

When you transfer a credit card balance, it’s important to avoid making new purchases on the card. This is because most balance transfer offers come with a 0% introductory APR for a limited time, and any new purchases you make will likely be subject to a higher interest rate. Instead, focus on paying off your transferred balance as quickly as possible.

Other tips for a successful balance transfer include:

• Check your credit score before applying for a balance transfer card. Better credit scores offer better rates.
• Read the terms and conditions carefully to understand the fees and interest rates
• Don’t close your old credit card account right away, as this can affect your credit score
• Keep track of your progress and make adjustments as needed

By following these tips, you can make the most of your balance transfer and work towards paying off your credit card debt.

How to Play the Balance Transfer Game

This “game” is something I learned how to play when I was trying to get out of debt. It saved me thousands of dollars in interest and helped me get out of debt faster.

What is the Balance Transfer Game?

The balance transfer game is a strategy that involves transferring high-interest credit card balances to a card with a lower interest rate during a promotional period. This promo period typically is between 12 and 18 months. The goal is to save money in the long run and pay off debt faster. Essentially, it’s a way to take advantage of introductory offers and promotions that credit card companies offer to attract new customers.

What’s the Purpose?

The purpose of the balance transfer game is to pay off debt faster and save money on interest charges. By transferring high-interest balances to a card with a lower interest rate, we can reduce the amount of interest we pay each month and accelerate our debt repayment. The game is particularly useful for those who have multiple credit card balances and are struggling to keep up with payments.

Rules of the Game

To play the balance transfer game, there are a few rules we need to follow:

1. Find a card with a low introductory interest rate: Look for a card that offers a 0% or low-interest rate for balance transfers. Make sure to read the fine print and understand the terms and conditions of the offer.
2. Calculate the transfer fee: Most balance transfer offers come with a transfer fee, which is usually a percentage of the balance being transferred. Make sure to calculate the fee and factor it into the overall cost of the transfer. Most charge between 3% and 5% but compared to your normal interest rates above 20%, this saves significant money.
3. Transfer the balance: Once we’ve found a card with a low introductory rate and calculated the transfer fee, you can initiate the transfer with your new card. This usually involves filling out an application and providing information about the existing credit card balances. Don’t transfer more than you can pay off during the promotional period.
4. Pay off the balance before the introductory rate expires: The introductory rate is only temporary, so we need to make sure to pay off the balance before the rate expires. Otherwise, we’ll be back to paying high-interest rates on our credit card balances.
5. Avoid using the card for new purchases: If we use the card for new purchases, we’ll be charged interest on those purchases at the regular rate. This can offset any savings we’ve gained from the balance transfer.

By following these rules, we can play the balance transfer game effectively and save money on interest charges. However, it’s important to remember that the game is not a magic solution to debt problems. It’s just one strategy that can be used in conjunction with other debt repayment methods.

Potential Risks of Transferring a Credit Card Balance

Transferring a credit card balance can be a useful strategy to save money on interest payments. However, there are potential risks involved that should be considered before making a decision. In this section, we’ll discuss some of the most common risks associated with balance transfers.

High Balance Transfer Fees

One of the biggest risks of transferring a credit card balance is the high balance transfer fee that is often charged by credit card companies. This fee is typically a percentage of the balance being transferred, and can range from 3% to 5% of the total amount. For example, if you’re transferring a balance of $10,000, you could be charged a fee of $300 to $500.

While this fee may seem like a small price to pay for the potential savings on interest payments, it can add up quickly and negate any potential benefits of the transfer. It’s important to carefully consider the balance transfer fee and compare it to the potential savings on interest payments before making a decision.

High Interest Rates

Another risk of transferring a credit card balance is the possibility of a high interest rate after the introductory period ends. Many credit card companies offer a low or 0% introductory interest rate for a limited time, typically 12 to 18 months. However, once the introductory period ends, the interest rate can jump up significantly, sometimes to as high as 20% or more.

If you’re unable to pay off the balance before the introductory period ends, you could end up paying more in interest than you would have if you had left the balance on your original credit card. It’s important to carefully consider the interest rate after the introductory period ends and make sure you’re able to pay off the balance before that time.

Credit Score Impact

Transferring a credit card balance can also have an impact on your credit score. When you apply for a new credit card to transfer the balance, the credit card company will perform a hard inquiry on your credit report. This can lower your credit score by a few points.

Additionally, if you’re transferring a balance to a credit card with a lower credit limit than your original card, your credit utilization ratio could increase. This could also lower your credit score. It’s important to carefully consider the potential impact on your credit score before making a decision to transfer a balance.

In summary, transferring a credit card balance can be a useful strategy to save money on interest payments. However, there are potential risks involved, including high balance transfer fees, high interest rates after the introductory period ends, and a potential impact on your credit score. It’s important to carefully consider these risks before making a decision to transfer a balance.

Your credit score will typically increase as you pay off the debt on the new card. So it ends up helping out in the end, but you have to realize your credit score will fluctuate around a bit during this time.

Conclusion

In conclusion, transferring a credit card balance can be a smart move for those who are struggling with high-interest debt. By taking advantage of a balance transfer offer, we can save money on interest charges and pay off our debt faster.

However, it’s important to be aware of the potential pitfalls of balance transfers. We should make sure to read the terms and conditions carefully, including any fees and the length of the introductory period. We should also be aware of how a balance transfer can affect our credit score and take steps to minimize any negative impact.

Before making a balance transfer, we should also consider our ability to pay off the debt within the introductory period. If we’re not able to pay off the balance before the introductory period ends, we’ll be subject to the regular interest rate, which could be even higher than our previous card.

Overall, a balance transfer can be a useful tool in managing credit card debt. By doing our research, understanding the terms and conditions, and being mindful of our ability to pay off the debt, we can use a balance transfer to our advantage and achieve our financial goals.

Forbes Advisor has compiled a list of the best budgeting apps of 2023. This list includes 15 different apps that have been compared based on their features, ease of use, and user reviews. From these apps, users can find the best mobile app to manage their budgets, savings, and expenses. Additionally, Finder UK has also published a list of the best budgeting apps of 2023, which provides a detailed review of each app’s features, fees, and benefits.

Whether users are looking for hands-on budgeting or simple zero-based budgeting, there is an app that can meet their needs. With the help of budgeting apps, users can take control of their finances and achieve their financial goals. This article will explore the top budgeting apps of 2023 and provide a comprehensive review of their features, benefits, and drawbacks.

Top 6 Budgeting Apps

Managing personal finances can be a daunting task, but with the right budgeting app, it can become much easier. Here are the top 6 budgeting apps for 2023:

1. Mint

Mint is a free budgeting app that allows users to track their spending, set budgets, and view their credit score. With its user-friendly interface and automatic categorization of transactions, Mint makes it easy for users to stay on top of their finances. Mint also offers personalized financial advice and alerts to help users save money and avoid fees.

2. PocketGuard

PocketGuard is another free budgeting app that provides users with a snapshot of their finances. It tracks spending, bills, and income and alerts users when they are in danger of overspending. PocketGuard also offers a feature that helps users find better deals on their bills and subscriptions.

3. YNAB

You Need a Budget, or YNAB, is a popular budgeting app that uses a zero-based budgeting system. This means that every dollar is assigned a job, whether it’s for bills, savings, or spending. YNAB also offers personalized coaching and support to help users achieve their financial goals.

4. Empower

Empower (previously Personal Capital is a budgeting app that offers a comprehensive view of a user’s finances. It tracks investments, retirement accounts, and net worth in addition to spending and bills. Empower also offers financial planning services and investment advice.

5. EveryDollar

EveryDollar is a budgeting app created by financial expert Dave Ramsey. It uses a zero-based budgeting system and allows users to track their spending and savings goals. EveryDollar also offers a paid version that provides additional features and personalized coaching.

6. Simplifi Money

Simplifi Money is a budgeting app created by Quicken, a popular personal finance software. It offers a comprehensive view of a user’s finances, including spending, bills, and investments. Simplifi Money also offers personalized insights and alerts to help users save money and avoid fees.

Other Budgeting Apps Worth Mentioning

1. Goodbudget

Goodbudget is a great app for those who prefer the envelope budgeting method. With Goodbudget, users can create virtual envelopes for different spending categories and allocate funds accordingly. The app syncs across multiple devices, making it easy to track spending on-the-go. Goodbudget also offers a free version with limited features, as well as a paid version with more advanced features.

2. Honeydue

Honeydue is a budgeting app designed specifically for couples. It allows couples to link their accounts and track their spending and budgeting goals together. Honeydue also offers features such as bill reminders, shared savings goals, and the ability to split expenses. The app is free to use, but offers a premium version with additional features.

3. Wally

Wally is a budgeting app that offers a simple, user-friendly interface. It allows users to track their expenses and income, set savings goals, and monitor their spending habits. Wally also offers features such as receipt scanning and bill reminders. The app is free to use, but offers a premium version with additional features.

4. Marcus Insights

Marcus Insights is a budgeting app that offers a variety of features to help users manage their finances. It allows users to track their spending, set savings goals, and monitor their credit score. The app is free to use.

5. Albert

Albert is a budgeting app that offers a variety of features to help users save money and manage their finances. It allows users to track their spending, set savings goals, and monitor their credit score. Albert also offers features such as bill negotiation, savings account management, and the ability to invest spare change. The app is free to use, but offers a premium version with additional features.

Factors to Consider When Choosing a Budgeting App

Choosing the right budgeting app can be a daunting task, especially with so many options available in the market. However, there are certain factors that one should consider before making a final decision. Here are some of the most important factors to consider when choosing a budgeting app:

1. User Interface and Experience

The user interface and experience of a budgeting app play a crucial role in its usability. A good budgeting app should have a clean and intuitive interface that is easy to navigate. It should also have a well-designed user experience that makes it easy to input and track expenses.

Some budgeting apps offer customizable dashboards that allow users to view their financial data in a way that makes sense to them. This can be especially helpful for users who have specific financial goals or who want to track their spending in a particular way.

2. Features and Functionality

The features and functionality of a budgeting app are also important factors to consider. A good budgeting app should offer a range of features that help users track their expenses, set and achieve financial goals, and manage their finances effectively.

Some of the most important features to look for in a budgeting app include expense tracking, budget creation and management, bill reminders, and goal setting and tracking. Some apps also offer additional features such as investment tracking, credit score monitoring, and financial education resources.

3. Security and Privacy

When it comes to financial data, security and privacy are of utmost importance. A good budgeting app should have strong security measures in place to protect users’ personal and financial information.

Look for budgeting apps that use encryption to protect data in transit and at rest. Additionally, make sure the app has a clear privacy policy that outlines how user data is collected, stored, and shared.

4. Cost and Value

The cost and value of a budgeting app is another important factor to consider. While some budgeting apps are free, others require a monthly or annual subscription fee.

Consider the features and functionality offered by the app and whether they justify the cost. Additionally, look for apps that offer a free trial period or a money-back guarantee so you can try the app before committing to a subscription.

5. Customer Support

Finally, customer support is an important factor to consider when choosing a budgeting app. Look for apps that offer multiple channels of support, such as email, phone, and chat support.

Additionally, consider the quality of the app’s customer support. Are support representatives knowledgeable and responsive? Do they provide helpful and timely solutions to user issues?