10 Smart Financial Moves to Make Right Now!

Let's face it, Americans love to consume - therevacation to Utah instead, have a sandwich for
is no getting around it. Every day, from everylunch, and a beer at the bar. You'll wake up feeling
direction the siren song of "stuff" calls to us, andbetter the next day because of how smart you
we listen carefully. Flip on the television and aare. Others will also respect you more. The fact is
Home Shopping Channel is trying to get us to buymost people know my friend is broke...
everything from gold plated coins to Japanese3. Timing is Everything. We live in a spit second
steak knives that can cut through a tin can. Walksociety. I can literally go on the internet right now
down the aisle of a grocery store and you'll findand order a book from an online book retailer and
various food companies promoting their wares,have it delivered today. This is a remarkable
through free food sample giveaways, couponsaccomplishment. It's like magic, I click "confirm"
and chubby chefs behind frying pans, boastingand literally 90 minutes later my doorbell is ringing.
about just how good their product really is.There is just one small problem. "Magic" costs a
Walk into the mall and you'll hear loud musiclot of money. Don't misunderstand me, there are
coming from a teen clothing store, the purpose oftimes to pay for speed, heart replacements, a
which, is to entice the "tweens and up crowd" totaxi to the airport when running late, important
come in and take a look. But it gets so muchdocuments that need to be signed tomorrow,
worse...etc; however, most of the time, with a little
You walk into a car dealership to discuss a newadvanced planning, you can save a lot of money.
sensible six cylinder compact car. The purchase4. "Private Label" Everything You Can. The other
price is $25,000. You plan on putting $5000 downday, I was shopping at the grocery store. As my
and financing the $20,000 balance. You determinewife and I walked down the aisle, we came to
that this car will last you at least seven years.the plastic bag section. She reached for the
The car company has a special promotional rate"brand name" garbage bags and I asked her if she
of 2.9% for 60 months. At this rate, thecould tell the difference between those and the
payment would be $358.49 a month - verystore's "private label" garbage bags. "Of course
affordable. You walked out with a new $45,000not" she replied. I looked at the box in her hand
sports car. With the same $5000 down, the leaseand looked at the private label box on the shelf.
payments were about $360 a month for 36Without a word, she swapped them immediately.
months, so you were in the same boat, but with5. Turn Off the Lights. I don't even ask anymore.
a much nicer car, right? There is just oneI put motion detectors on the light switches in my
problem. You did not factor in that after 3-yearshouse. It's great when they shut themselves off,
you'd have to give the car back and come upthe kids don't complain about the extra work and
with another $5000 down payment for the nexteveryone is happy.
lease.6. Refinance Your Mortgage - With interest rates
On and on it goes, until one day you're sendingat all time lows, if you are one of the few who
more money to the credit card companies thathas not refinanced, now would be a good time. If
you pay on your mortgage or monthly rent. Inyou owe $250,000 on your mortgage and can
the worlds of the legendary band, Talking Heads,reduce your rate by 1%, then you save about
"Well, how did I get here?"$150 a month. Reduce it 2% and you save $300
If we go back 100 Years to the dawn of thea month. Current 30-Year Fixed Rate Mortgages
20th Century, our ancestors had very little debt.are about 4.50%; and you thought you parents
They spent most of their time and moneygot a great rate!!!!
maintaining farms, mending clothes, cooking all7. Pay Others to Do Your Mundane Work -
afternoon, reading books to their children, andWhoaaah, spend more money not less!!! Yes this
talking to one another. Most did not haveis what we're saying, but there is one caveat. If
telephones, so no tele-marketer called; none had athe value of your time is such that if you spend
television, so there was no such thing as amore time at your job you make more money
commercial or its big brother, an infomercial, and(commissioned sales comes to mind), and you
most importantly, we lived a much simpler andmake more per hour than the person you're
likely more fulfilling life. Ironically, most of the stuffpaying to help you, it makes sense to devote the
we buy today finds its way into a closet, garbageextra time to your job and have others do your
can or donation bin shortly after acquisition. Withmundane work.
this as a back-drop, here is our list of 10 Smart8. One Word, "eBay" - As I write this article, I
Financial Moves to Make Right Now!noticed that I had run out of a household item
that I use on a regular basis. While not particularly
1. Wait 24 hours. Have you ever boughthard to find, it is not cheap. I bought it for less
something, took it home, and then realized youthan half price on eBay. Not bad, eh?
did not really want it? You intended to take it9. Learn to Negotiate - Haggling is the American
back the next day but it just sat there. A monthway. If you buy anything that does not have a
later it moved itself from the table to the chair inprice tag pasted right on its front, (and many that
the corner, and eventually into the closet, wheredo), you can negotiate. Think I'm kidding? Think
it sat for years. Had you waited 24 hours, mostabout it in reverse. If you listed you house for
of the time you would have had a change ofsale, do you think that buyers will walk up and
heart (and an improvement to your financialoffer full price? Doubtful. What if you listed your
condition) if not, at least you'd know yourcar for sale in Auto broker magazine, potential
purchase would be more meaningful to you. Sobuyers will try to negotiate. Have a rare coin to
wait, it's not going anywhere - really it's not.sell you will likely negotiate.
2. Sometimes, You Don't Need the Most10. What is the Absolutely Cheapest Way to Get
Expensive Option. I have a very good friend whoExactly What You Want - There is more than
lives a Rock Star lifestyle. He is single, has a goodone way to acquire personal consumables and
job, makes a lot of money, and purchases all ofassets. If you get in the habit of asking yourself,
the trappings of success. He spends the summerwhat is the absolutely cheapest way to get what
weekends in the Hamptons, flies to the Caribbeanyou want, you will go far. Think about bottled
for long winter weekends, and Ski's the Swisswater. A bottle of water costs, on average about
Alps every year. He eats Sushi for lunch threea dollar. A little more out of a machine, a little less
times a week, drinks champagne at the bar whileout of a case. What is the absolutely cheapest
others drink beer, and does everything he can toway to get pure clean drinking water? Put a
demonstrate that he has "made it." If you askwater filter on you sink spigot. Cost per tall glass
him if he is happy he will tell you "what's not to be(about the same amount as in a bottle) about 2.5
happy about?" There is just one problem, whencents. Drink them side by side and tell me if you
he is not spending money he is so uptight that hecan taste the difference.
is miserable to be around. He places unreasonableThere are many ways financially astute folks
compensation demands on his employer, isspend and save money. We encourage you to
notoriously cheap to folks that have given himlook at the world a little differently. Using
great service and in general, seems too close to101MoneyTalk's list above will help you get started.
the edge. Don't be this person, take a Ski