Like many people I’ve used eBay to sell unwanted items to raise cash.  Nothing major, just a few things here and there that I could get a few bucks for and free up some room in my garage or basement.

I’m really not a huge fan of eBay these days because it seems there is less and less room for small scale guys like me.  I’m not a power-seller and I don’t want to be.  I just want to unload a few things I don’t need instead of throwing them away.

Anyway, most of my transactions have been pretty smooth.  I sold a large lot of old VHS tapes and a couple smaller lots of books, and a few other random items. 

The last item I auctioned off was a Linksys wireless router.  I had picked it up on Amazon for $48 when I first bought my laptop so I could be free to roam the house and not be chained down to the desk.  I used it for about six months and everything worked perfectly.  Then I switched internet providers and I no longer needed the router because FIOS gave me one to use for free.

So rather than have an unused router sitting around collecting dust I figured I’d just pack it up back in the box and sell it.  After all it was barely used and looked as good as new.  I had the original box and everything else that came with it. 

I auctioned it off on eBay but all I got was a lousy $14.  The seller sent me $22 (eight bucks for shipping) but after mailing it off and paying paypal and ebay fees all that was left was about $12. 

“Oh well,”  I thought.  “I wasn’t using it anyway and $12 is better than nothing.”

After a few days I received an email from the seller complaining that I ripped her off and sold her a router that didn’t work.  I wouldn’t say she was nasty about it but there was certainly the implication that I knowingly sold her damaged goods. 

I responded as nicely as possible that the router was working perfectly when I boxed it up and mailed it and is she sure she’s using it right?  I suggested reseting the router back to default settings as that might clear up any problems. 

She then wrote back that she tried everything and it doesn’t work and she wants a refund.  She’ll mail the router back to me but I need to pay the return shipping.

Three Scenarios

I start thinking about what went wrong here and came up with a few ideas.

1. The router is fine and she doesn’t know what she’s doing.  If she sends it back I can always resell it and hope for a better outcome.

2. The router was damaged in shipping and is useless.  I’d be paying for a worthless piece of trash that I couldn’t resell.

3. I’m being scammed.  Maybe her router broke and she concocted this scheme to get one for nothing.  She could send back her broken one and I’d probably never know the difference.  It seems like a lot of trouble to scam such a small amount, but people are crazy.

The first scenario is the only one in which I could come out ahead.  The other two result in me getting stuck with a broken router.  Since the odds were against me I decided to cut my losses.  I sent her a $22 refund and told her to toss the broken router since I couldn’t resell it anyway.

Could it all have been a scam?  Maybe.  But probably not.  And either way I decided it didn’t make sense to pay another $8 shipping and throw good money after bad to reaquire a broken router that is useless and unsellable.

In the end I got nothing for my router.  Oh well.  At least I gained a little extra room in the basement!

What would you have done in my situation?

This is a guest post from Michael at Forex Traders.

The most successful forex traders not only possess the right knowledge-base; these traders also possess the correct mindset.  What character traits are the best ones when it comes to forex trading?  Read on to learn about some of these personality traits that best suit trading currency on the forex exchange market.

Discipline

One of the most important character traits needed to be successful at forex trading is that of discipline.  Traders inherently know that they will not make money on every single trade they will make.  After all, they realize that in the long run they will succeed and be profitable, and thus they will not take these losses as a personal blow to their self-esteem.  Thus, forex traders with discipline will always adhere to their personal forex trading system rules precisely.  Along similar lines, a disciplined currency trader will only trade when he or she has a well-developed trade system in place.  Further, a disciplined trader does not assume too much risk or get overconfident when trades are going well.  All in all then, a disciplined trader is fully in control of his or her emotions and sticks to a well-planned system.

Courage

Without a doubt, courage is a prerequisite if your plan is to trade significant amounts of money on the forex market.  One of the most paralyzing emotions to have while trading is the fear that you will lose money when you make certain trades.  This feeling will only undermine your self-confidence and you will most likely then make poor forex trade decisions in turn.  One of the ways to overcome the feeling of fear is to only trade money that you can afford to lose. Once  you adopt this policy, you will undoubtedly feel more courageous and trust your decision making skills.

Persistence

While learning about forex can be a comparatively simple endeavor for some people, it is important to keep in mind that you will sometimes lose money.  Thus, you must overcome self-limiting thoughts that you cannot succeed in this field.  Instead you must stick to your original well-developed forex trading plan and adopt the mindset that you will succeed – and that failure is simply not an option.

Patience

Patience is required as often forex traders need to hold off on investing in a certain currency until it is a profitable to do so. Further, instead of “jumping” on a tip right away, it is always important for investors to analyze the markets, read the news, and conduct other necessary research to determine if a trade will be an intelligent one.  After all, sometimes the most profitable decision is to wait and not invest your hard earned money right away.

A Realistic Attitude

As you must realize that you are trading with long term profits and goals in mind, it is vital that you possess realistic profit-making goals.  For instance, you should not give yourself unrealistic profit generating deadlines, as this type of situation will most likely result in you taking unwise risks that may result in a significant monetary loss.

To conclude, you can learn all about the forex market at a theoretical level, but if you do not have the personality traits – or are not willing to work on these personality traits – you most likely will not become a successful forex market trader.

A recent MSN article lists the 8 most overrated home projects that homeowners usually end up regretting. 

1. Whirlpool bath
2. Room additions
3. ‘Versailles’ kitchens (high-end upgrades)
4. Marble counters
5. Deck off the master bedroom
6. Elaborate home theaters
7. Hot tub
8. Overly complicated home automation

When I look at this list I see a bunch of expensive but largely unneccessary projects.  The only one I would seriously consider is a room addition if we really needed more house for our family and didn’t want to move. 

The other items are either dated or luxury items I just don’t need. 

I suppose a home theater would be nice but I’d settle for a large flat screen tv and surround sound.  I certainly don’t really need stadium seating and a projector!

And a hot tub would be used maybe once a year (unless I happened to live next to the Playboy mansion). 

On the other hand, there are some home projects that are worthwhile.  We recently had some work done in our home but we thought long and hard before deciding to have 2 projects completed simultaneously.

First, we had a sump pump installed in the basement to keep water out (we sometimes got a little seapage during heavy rains).  We also added a half bath and walled off the furnace and water heater to create a little play area for the kids. 

Next, we had a 3 season porch off our backyard insulated and converted into a bedroom.  It was meant to be a bedroom for my father in law so he could stay with us while he battled lung cancer, but unfortunately he passed away before it was finished.  So now we’re using it as a little home office instead. 

In the end we’re not planning on staying in our home long term.  We like the neighborhood but I can see some bad elements slipping in.  We’re probably looking to move within the next couple of years and I think the work we did will be a big help when we put it on the market.  Instead of a 2 bedroom/1 bath we’ll be listing a 3 bedroom/1.5 bath which means we can get a lot more for it.

Are you considering doing any work to your home?  Do you think you’ll get your investment back when it’s time to sell?

This is a guest post written by Jason Holmes of Debt Consolidation Care.

Consumer groups have issued a new set of warnings regarding debt settlement companies. Debt settlement companies help individuals solve their debt problems for a fee. However, it is imperative to remember that not all debt settlement companies are reliable. There are some settlement companies that might be able to reduce your debt load. But using a settlement firm/company can also be a trap, and you may find yourself deeper in debt than when you started.

Debt settlement tricks and traps

Here are some of the debt settlement tricks and traps you must know:

1. No immediate relief: You’ll be required to deposit a specific amount of cash in the trust account opened by the settlement company. The representatives of the settlement company won’t even negotiate with your creditors until you have collected 50% of the debt amount. When you are trying your best to save that amount of money, the debt settlement company is deducting the fee from the trust account.

It will be more difficult for you to save that amount of money. If you have single debt, then the whole settlement process can take one year. However, if you want to settle multiple debts, then the entire process can take several years. Hence, you should ask the representatives of the settlement company about the amount of time it will take to save 50% of the debt amount after deduction of fees.

2. Extraordinarily high fees: Some of the settlement companies charge excessively high fees for their services. They might even ask you to pay an upfront fee. Normally, they should charge a fee on the forgiven debt amount. Therefore, before hiring a settlement company, you should check the fee structure. If the settlement company asks you to pay an upfront fee, then refuse it.

3. Debt collection: When you enroll in the debt settlement program, it doesn’t imply that the debt collectors won’t haunt you. When you enroll in the debt settlement program, you are asked to stop all kinds of communication with the creditors. The representatives of the debt settlement firms often don’t speak to the creditors for months and creditors are not bound to contact them. The creditors get paranoid and hire debt collectors. The creditors can even sue the debtors.

Also, the individual’s debt amount increases because of interest and penalties. This will ruin their credit score further. Therefore, you should ask the representatives whether they are keeping in touch with the creditors. Also, you can ask them whether you’ll get any kind of legal help in case you’re sued.

4. Scams: A lot of debt settlement scams are happening nowadays. Many fraud companies have emerged in the market. They will take the money from you and then vanish. This will make your debt situation worse. Therefore, before hiring a settlement company, you should check whether it is recognized by Better Business Bureau.

Jason Holmes is a regular writer with Debt Consolidation Care and is also a contributory writer with other financial sites. His expertise is woven around various aspects of the debt industry and with his e-books he tries to impart to people the different situations and simple solutions to get out of difficult situations. Some of his works include e-books like ‘Credit Score The Quintessential Therapy for a Happy Pocket’, Take Creditors and Collection Agencies to Small Claims Court’ and, My Story- From Depression To a Smile’.

Well it’s been about 4 and a half months since I joined the Yakezie challenge and it seems my Alexa rank has stalled just a whisker shy of my goal.  I have been hovering around the 100,000 barrier for weeks but just can’t seem to break it!

Still, I’m a lot better now then when I started!  My Alexa then was over 1.6 million, and I felt like I was talking to myself.

But thanks to Sam’s challenge I’ve gotten to know a couple of fellow bloggers, written a handful of guest posts at FreeFromBroke and Money Beagle and gotten listed on the Wisebread list of the top 100 personal finance bloggers.  Plus I’m actually making some money!

Blogging can be tough when you’re first starting out, but it helps to have specific goals and a way to track them.  Sam’s challenge kept me motivated when it would have been easy to throw in the towel, and for that I owe him a great big thank you.

Thanks Sam!

Here are a few recent posts that got my attention…

Evan from My Journey to Millions stirred up a little controversy with his post about why teachers anger him.

Frugal Dad discusses his secret to getting out of debt.

Mrs Money wonders if it’s cheaper to have a baby when you’re younger or older.

Free Money Finance shares 13 finance tips from the bible.

Financial Samurai gives us an inside look at the Yakezie .

Len Penzo discusses his shock when he received a cell phone bill for over $1000!

The Digerati Life stresses the importance of developing multiple streams of income.

The Wealth Pilgrim shares some tips on how to make your small business more successful.

Money Beagle asks do any of us have a chance in the stock market?

Saving Money Today was featured in the following carnivals…

http://funny-about-money.com/2010/07/11/carnival-of-personal-finance-2

http://www.wealthjunkies.com/money/festival-of-frugality-238/

Today’s article comes from Mr Credit Card of www.askmrcreditcard.com and he is going to talk about how to spot a credit card scam. If you are looking for a credit card, I suggest you check out his best credit cards offers section.

Credit card scams are almost as old as credit cards themselves. The good news about credit cards is that the card holder is not responsible for most instances of fraud. You are protected from paying for any unauthorized charges and your only responsibility is to notify your bank in a timely manner. The burden of proof always lies on the merchant to document that you have in fact authorized the charge or charges.

The bad news is that there are plenty of ways that scammers can still try to sneak charges past unsuspecting cardholders. The classic case is when a fraudulent charge is brazenly attempted in the hope that someone will not take the time and effort to read every line on their bill, notice the charge, and call their bank to dispute it. The odds are in fact pretty good that a small but significant percentage of cardholders will not notice a charge, especially a small one. Sadly, many people will just pay their credit card bill on the assumption that all charges are legitimate.

How does a scammer get your credit card number?

The easiest way to obtain credit card numbers is to hack a database of a merchant. By obtaining numbers in bulk, criminals can make a lot of money by charging small amounts to thousands of accounts. Other ways to fraudulently obtain account information are through the lifting of information off of a card at a restaurant or hotel where the card may be processed out of your sight. Finally, credit cards are still stolen via good old fashion pickpocketing and break-ins.

A close cousin to fraudulent charges is the pre-acquired account scam. The idea is that instead of stealing your account information, a scammer can merely purchase it from a company that you legitimately did business with. On the internet, this may take the form of a pop up box that is offering you something that is seemingly free. In return, the fine print specifies that you are authorizing a third party to charge your card perpetually. Many otherwise reputable companies willingly participate in this scam.

Offline the scam takes the form of a mail solicitation, again offering you some sort of free service or perhaps even a check. The check is covered with fine print that indicates that cashing it will enroll you in some sort of travel or shopping service. The service is of questionable value at best, and your credit card will be charged every single month. Typically, the check will bear the name and logo of the otherwise reputable company that you originally gave your credit card to. The idea is to make you think that the offer is legitimate and is somehow backed by the known company. The fine print indicates that they are merely using the account information that the other company obtained, and that the scammer is really a separate entity. Sadly, these scams remain legal, while some credit card processors have vowed to crack down on them. Furthermore, such practices are against credit card merchant agreements, but the credit card processors often don’t care.

How Do You Avoid Being Scammed?

The easiest way is to avoid being a victim of a credit card scam is to review every line of your credit card statement every month. This is not as easy as it sounds. Many people rely on their credit cards for day to day purchases, and their credit card bill can contain hundreds of transactions a month. Worse, even legitimately authorized transactions sometimes look suspicious because the name on the statement may not be recognizable. Nevertheless, you still need to sacrifice several minutes of your time every month to scrutinize your credit card bill. This should be seen as a necessary activity that is part of the use of a credit card.

There are also a couple of credit card issuers that allow you to generate a one-time credit card number when you make a purchase online. That way, it adds an extra level of security. Issuers or credit cards that have this feature include Discover Card and Citicards.

Credit cards are an incredibly convenient financial tool and their security far exceeds the risks associated with using cash, checks, or even debit cards. They are incredibly secure, but they are not perfect.  Almost by definition, people who have lost money from credit card scams are not aware of it. The key to avoiding scams will always be the proper detection of fraudulent charges, and your timely notification of your bank.

The other day I was logged into my Amazon account to request a return for an item that had arrived damaged.  It was the first time I ever had to return anything to Amazon which is a testament to their service.

Anyway, while I was browsing to the specific order number to request the return I realized I could go back in time and view my entire order history.  Here’s a few things I found interesting:

My first Amazon order was placed way back on August 23, 2000.  I had purchased a software package with a bunch of games for my PC.  I remember most of the games were a disappointment (Beast Wars) but Worms 2 was really fun!

The total amount I’ve spent on Amazon is $2703.59!  Damn!  They must love me.

I’ve placed a total of 63 orders.

The average order size was $42.91.

The smallest order was $16.97 for a cd collection I bought for my girlfriend (now wife).

The largest order was $229.99 for a digital camera.

I buy a lot of books through Amazon, and some hard to find dvds and cds.  I find it cheaper to order from amazon with free shipping than to go to the mall or Barnes and Noble and pay full price.  Plus some items you can get gently used for a huge discount.

A lot of my orders are in November and December…I dread going anywhere near a store during holiday season.

A few of the orders were for things I could have lived without or disappointed me.  But most of them were for books or other items that I really enjoyed or learned from.

The Honeymooners is my all-time favorite tv show.  I’ve seen each episode dozens of times and yet I still laugh out loud when I watch it.  The misadventures of the Kramdens and the Nortons is classic television at its best.

But if you look past all the jokes and gags there are some valuable lessons to be learned…

1. Get rich quick schemes don’t work. Ralph Kramden is always looking for a way to improve his station in life.  But instead of saving up his money and making smart investment choices, he simply bounces from one get rich quick scheme to the next.  He always goes for the quick fix thinking, “This is an opportunity that can’t miss!”  Unfortunately, Ralph soon discovers that he has blown his savings on another “sure thing” that went bust.

2.  Never rely on an inheritance. In one episode Ralph finds out that an elderly woman who used to ride his bus had named him in her will.  It turns out she wasn’t the poor, old lady he assumed she was…she was actually a millionaire.  Despite his wife’s advice not to jump to conclusions, Ralph assumes he will be set for life when he inherits the old lady’s fortune.  He even brings an empty suitcase to the reading of the will so he can carry home all the money.  Just imagine his surprise when he learns that his “fortune” is in fact the old lady’s parrot.

3.   Never stop trying to improve yourself. In another episode Ralph laments that he was never able to stick with anything long enough to be successful at it.  After an encounter with a businessman who shares some of his secrets, Ralph vows not to rest until he is a success.  He takes stock of himself, listing all his strengths and weaknesses.  Then he goes about trying to eliminate his weaknesses while building up his strengths.  It may not happen overnight, but with that determination I know someday Ralph will reach his goals.

4. Live below your means. Ok, if you take one look at the Kramden’s apartment you’ll see that they aren’t exactly living like the rich and famous.  They have no tv, no telephone, not even a fridge (they have an icebox).

But in one episode Ralph finds a suitcase full of money and immediately goes on a spending spree.  He quits his job and buys fancy clothes, new furniture, and a motorboat.  Unfortunately it turns out to be too good to be true.  The money is counterfeit.  Ralph then has to return everything and go begging to get his job back.

5. The Joneses aren’t necessarily doing as well as you think. In “Mind Your Own Business” Ralph gives Norton some bad advice that gets him fired from his job at the sewer.  Feeling responsible, the Kramdens do what they can to financially support the Nortons but Ed and Trixie begin to feel like they’re mooching off their friends.

Eventually, Norton gets a new job selling irons door to door.  But when Ed learns that Ralph is going to have the Nortons move in with him if the job doesn’t work out, he embellishes his number of sales so Ralph won’t worry about him.

Ralph gets so excited at Norton’s astounding new income that he’s ready to quit his own job and start selling irons too.  The problem is Norton only sold one iron all day long…and that was to his mother.

6.   Don’t buy what you can’t afford. In one episode Ralph and Alice get into a huge fight because she wants him to buy a television set.  She complains that the Nortons have so many things she doesn’t (a vacuum cleaner, refrigerator, telephone, electric stove, etc) and she calls him cheap.

But Ralph argues that he isn’t cheap and that he just has different priorities, saying “I’d rather have money in my wallet than all the things in the world.”  While Norton has 19 open lines of credit, Ralph is socking money away into their bank account.  Instead of buying his wife all the latest and greatest gadgets, he is giving her financial security.

7.   Never give up! If there’s one thing I admire about Ralph Kramden it’s his determination.  He’s not the smartest guy in the world and he’s had a lot of bad luck.  But no matter what life throws at him he always bounces back.  He never stops trying to reach his goals.

Someday he’ll make it.

Lawmakers are considering legislation that would delay eligibility for full Social Security benefits until age 70 for millions of young Americans.

Today the full Social Security benefit retirement age is 66 for people born between 1943 and 1954.  It gradually increases by 2 months per birth year until reaching age 67 for those born in 1960 or after.

I’m only 33, so if the retirement age is delayed to age 70 I will certainly be affected.  But you know what?  I think I’m ok with it.

Let’s face reality.  The Social Security program is in serious trouble.  According to the Trustees Report, the Social Security trust fund is scheduled to run out by 2037, at which point there will only be enough taxable income to pay about 75% of scheduled benefits.

It’s obvious that something needs to be done, and since life expectancy is much higher today than it was back in FDR’s day it makes sense that the retirement age is adjusted accordingly.

But I don’t think that’s enough.  I’d also like to see an increase in the taxable maximum.

Social Security is financed through a dedicated payroll tax. Employers and employees each pay 6.2 percent of wages up to the taxable maximum of $106,800 (in 2010), while the self-employed pay 12.4 percent.  So if you make less than the taxable maximum your entire salary is taxed.  But if you make more than that, anything over the maximum is not taxed.

I’ve never really understood why the burden of paying for Social Security was almost entirely on the shoulders of the working class.  Why should a middle class worker making $106,800 pay the same amount ($6,621.60) in Social Security taxes as LeBron James?

You don’t think the wealthy are collecting the Social Security benefits they’re entitled to?  Of course they are…they didn’t get wealthy by making poor financial decisions and leaving money on the table.

I say up the taxable maximum.  It will increase the amount of taxable income without devastating the middle class and working poor.  And it will help insure that Social Security benefits are still around for the people who need them most.

What are your thoughts?  Are you willing to push your retirement back a few years or pay more in taxes if you earn over the taxable maximum?

My wife and I haven’t had much success growing our own fruits and vegetables since we bought our house a few years ago. There are a ton of trees and we get very little direct sunlight. And since our yard backs up to a pond we have all sorts of animals running around including rabbits, squirrels, chipmunks, raccoons, deer, and the occasional fox. As soon as we get some nice ripe tomatoes that are ready to be picked, they disappear. In fact about the only thing we’ve had luck with is some herbs like basil and parsley.

photo credit: tillwe

But despite our lack of success we understand the benefits of growing your own fruits and vegetables. If you don’t already have your own backyard garden, here are 4 benefits of gardening that should convince you to get started.

1. You can save money on groceries. For the price of a few small tomato plants you can have all the tomatoes you’ll need through the entire summer. And the same goes for green beans, squash, and whatever else you want to grow.

2. Fresh is best. Forget about sifting through piles of fruit that have been sitting around for a week or more and are no longer ripe. There’s no substitute for freshly picked foods delivered right from your garden to the dinner table.

3. When you grow your own, you know what’s in it. No unwanted pesticides, fertilizers, or contaminants in your food.

4. You’ll get off your butt and get some exercise. Gardening isn’t like running a marathon, but it does require a little elbow grease. A little fresh air and exercise could do you some good!

So what are you waiting for?  Grab some seeds or plants and start enjoying the benefits of gardening!