I wrote about three credit card benefits you’re paying for but not using for GoBankingRates and BusinessInsider. Whether you pay interest on your carried credit card balances or whether you’re just subject to the natural increased cost of products due to retailers’ card processing fees, you’re paying for the cost of benefits that card issuers provide to their users. It’s not just cash back — benefits include extended warranties, purchase protection, and price protection. If you’ve never used these “free” features, you’re not taking full advantage of what you’re paying for.
- Extended warranties, if your card offers this feature, can extend the manufacturer’s warranty, usually up to one extra year. While retailers often try to sell you extended warranties on products at the point of sale, the option from your credit card issuer is often “free” and automatic.
- If your card offers purchase protection, you don’t have to worry about accidental damage for a period of time after the purchase. Even if you drop the item, the credit card might be able to replace it.
- Purchase price protection will help you receive from the issuer a refund if a product you buy is advertised in print at a lower cost than the price you paid.
There are some caveats to the coverage, and not every card offers the same features. Read the article for more information.
Here are a few recent articles worth mentioning. Read the full article →
Here are a few articles from around the web I recommend reading.
A Journey of a Thousand Miles Begins With a Single Step. A few days ago, Tom, the producer of the Consumerism Commentary Podcast, and I spoke with Matt Jabs and recorded most of that conversation for an upcoming episode. Part of the discussion focused on the core message of this article and its inspiration, a quotation attributed to Lao Tsu matching the title of the article.
This quotation inspired Matt to set goals and take the first step towards achievement, but for me the quotation reinforces the idea that your goal (of traveling a thousand miles by foot or making the world a better place) need not be reached. The steps you take towards that goal, the small things you do, are what define who you are. Look for more on this topic in an upcoming episode of the Podcast.
Carnival of Personal Finance: New Zealand Edition. Baker from Man Vs. Debt hosted the 213rd edition of the Carnival of Personal Finance on Monday, and put together an excellent presentation of the prior week’s best articles in personal finance. The articles are interspersed with fantastic photos from New Zealand, representing the backpacking journey through the country Baker and his family were undertaking.
Is Frugal Living Just a Fad? The media has made much to-do over the idea that Americans are saving more and spending less due to the economic recession. Some out of necessity, but there is an implication that frugality is now more mainstream than it ever has been. I believe that’s an exaggeration. Perhaps we have been to the point where circumstances necessitate a change in consumerist behavior, but very few things in life are permanent. Entire generations have been identified by generalized adjectives such as “frugal;” current behavior is simply a reaction, not a permanent shift in behavior.
I wouldn’t call the recent popularity of “frugal living” a fad, but it’s not going to stick around for too long. The economy moves faster than it did seventy years ago; changes that used to take a generation to complete may take much less. Before long, Americans will be back and spending in full force.
As the year is coming to a close, and I will be less available over the next few days, the opportunity is perfect for taking a look at Consumerism Commentary and compiling a list of “best” (or most popular) entries from the year. This will be the 570th entry in 2005, but only a few of those I would consider worthy of being included on a “best of” list.
Happy Hanukkah, Merry Christmas and Happy New Year! Here is the “Best of 2005,” sort of categorized:
Read the full article →
This Week in the Archives: Blue Lion Edition
This article was written by Flexo in Administration. 2 comments.
There’s something exciting when the five lions combine to form Voltron, despite the fact it happened every episode. Also, Princess Allura was hot.
Here are some articles I’ve written in past years at Consumerism Commentary. From July 8-15, 2006:
* July 9: Excel Template for Income and Expense Report
* July 10: Excel Template for Net Worth Report (Balance Sheet)
* July 10: The Top 25 Money Tips of All Time (Part 4)
* July 11: Thinking About Moving Savings From ING Direct to HSBC Direct?
* July 12: Update: Moving Savings From ING Direct to HSBC Direct
* July 12: Cash Back Rewards for Paying Rent
* July 13: Enigrant Direct’s New Website (Soon)
* July 15: Old Promotion, New Trick: Free $75 With ShareBuilder
* July 8: Extreme Frugal Living and Farming vs. Hunting-Gathering
* July 11: Best Place to Live is 45 Minutes From Me
* July 12: The Etiquette of Money Talk
* July 13: These Rules Don’t Work
* July 13: Property Taxes
* July 15: Money Clubs
* July 15: NetWorthIQ
In July 2004, I was taking a break from Consumerism Commentary, and in July 2003, I was just getting started.
{ 2 comments }