Who enjoys making 0.15% on your savings account?  Raise your hand…..

Didn’t think so.

Interest rates have been low for quite some time (too long for many), and finding the highest interest rate for your savings accounts is a must.

One viable option is the online bank Ally. If you’re looking for a competitive rate online, then you might want to check Ally out.

Here’s a review of Ally bank why they might be the best online bank for you.

Quick History and Terms

Ally bank is a product of what used to be GMAC bank. Whenever GM went through their PR nightmare, GMAC made the smart decision to rebrand and hence Ally was born.

ALLY bank is offering some of the highest yield accounts available that are also backed by the FDIC. Being backed by the FDIC simply insures up to $250,000 of your money by the Federal Government in case of an emergency. You can receive much more than $250,000 worth of coverage by opening an account with a death benefit to your spouse, or by opening an account for your child. With these extra accounts added, you can achieve total coverage of around 1.5 million depending upon your family structure.

Opening Your Account With Ally

Opening an ALLY bank account is similar in process to any typical bank, except for the precautions they will take because of no actual face to face contact. The one major difference is the use of your FICO score, other banks will check your FICO score as well, but ALLY could possibly deny you based upon your FICO score where other banks may take more variables into consideration. After opening your initial account whether it is savings or checking, it’s relatively simple to open another account simply using your login name and password.

Different Investment Tools

Ally bank offers a variety of options for your money to be invested in:

Ally Bank Review Conclusion

Overall, ALLY bank is a convenient option that offers competitive rates with no minimum balance, as well as being backed by the FDIC so you know that your money is safe. Beware that they will measure you based upon your FICO score when opening an account, as well as your initial deposit may take slightly longer than a local bank because of the processing time needed.

Most likely you will also be sending out of state checks to ALLY, so do not be surprised if it does take a couple of days longer for your check to show up on your statement. There customer service is easily accessible with 24 hour access via online as well as through telephone. I do not personally have an ALLY account but called their help line and was pleased to have no wait time associated with all of my attempts.

Have you opened an account with ALLY Bank?  If so, please share your experience.

During the heady years prior to the financial crisis of 2008, many people thought that they could “afford” bigger homes.

Unfortunately, as low-rate mortgage reset, it became painfully obvious that those homes weren’t affordable at all.

But we don’t have to go nearly that big. In college, I assumed I could afford something because it fit neatly on my credit card.

Often, I bought items immediately, telling myself I could afford it because I could just pay it off with my next paycheck.

Sadly, what usually happened is that I found I couldn’t pay off the credit card balance; only the minimum payment was affordable.

Before you buy something — especially if you use credit to do so — it is a good idea to take a step back and see if it really is affordable.

Do You Have the Money for It Right Now?

One of the first questions you have to ask yourself is whether or not you have the money for it immediately. While this might not be practical when considering whether or not a mortgage or education loan is affordable, it is something to consider before you swipe the credit card for just about any purchase.

Be honest: Could you pay off the credit card tomorrow?

If not, perhaps it isn’t affordable after all.

Does the Affordability Rely on Special Financing Tricks?

Next, figure out whether or not the affordability is a result of special financing. When purchasing a home, this is especially important.

Could you afford the mortgage payments if you didn’t get an interest only loan?
If the teaser rate reset tomorrow, would you be able to handle the higher payments?

This also works on the basis of making other types of purchases.

Could you buy that TV without the “special” financing deal of nine months without paying interest?

If the only reason that you are able to afford a purchase is due to efforts to temporarily adjust your financing terms, that’s a serious red flag.

How Will the Purchase Affect Your Long Term Financial Goals?

When Kyle a the Amateur Asset Allocator talked about his view of affordability, he mentioned his long term financial goals. Are your purchases now impacting your ability to meet your long term goals later? If you find that you don’t have enough money to put what you want toward your retirement account, it’s probably time to review your spending, and see what is holding you back.

Even though you might have the money right now, what it is taking away from in terms of the future? Something that puts your future at risk is probably not affordable, even if you pay cash for it right now.

Bottom Line

Your budget, and your spending, should reflect your priorities. Affordability is about more than just figuring out if you have the immediate cash, or if you can handle the payments for a little while. Instead, it’s about how the purchase fits into your overall financial plan, and whether you are meeting your financial goals.

Before making a purchase, re-examine your situation, and decide if you truly can afford it.

How many times have you been faced with a financial decision where afterwards you regret saying, “Yes”?

Too many, right?

We’ve all been there; me included.

There was one time where I almost said yes, but luckily got the courage to finally say no. And thankfully I did.

If I hadn’t, my financial life could have been seriously ruined.

Here’s what almost happened….

How much is your home worth?

A good home appraisal is one of the most important components of getting approved for a mortgage.

This appraisal ultimately decides just how much a bank is willing to lend to you, and a bad appraisal can kill your plans for a new home faster than a bad credit score.

A home appraisal is the best way for a lender to see if they wont lose their seat on the deal.

The lender wants to make sure that they have an asset that they can sell to get their money back in case of default. The home appraisal is also a way for you to see if the home you are wanting is overpriced or not.

Lets say that John Doe wants to secure a mortgage on a home that cost $180,000. His credit score is very good, yet the home only appraises for $150,000.

Will John get his loan? You better believe he won’t. The sale price will have to be lowered for the lender to consider to loan John the money. This is also a warning for John, that the home that he is trying to secure may be overpriced.

So what dose an appraiser look for?

An appraisal usually starts with an inspection of the inside and outside of your home, as well as sale and ask prices for comparable homes in the area.The appraiser will create a report for the lender that includes:

• An explanation of how the appraiser determined the value of the property
• The size and condition of the house and other permanent fixtures, along with a description of any improvements that have been made and the materials used
• Statements regarding serious structural problems, such as wet basements and cracked foundations
• Notes about the surrounding area, such as new or established development, rural acreage, and so on
• Evaluation of recent market trends of the area that may affect the value
• Comparative market analysis that supports the appraisal: maps, photographs and sketches

An important thing to note is that, an appraiser is not a home inspector. An appraiser will make note of obvious issues but dose not inspect the home to see if it is up to code. For this you will actually need to hire someone to do a home inspection to avoid any costly nightmares in the future if something is wrong with the house.

How much is this going to cost me?

Appraisals typically cost in the range of $300- $400. This price can change though depending on the location of the property, square footage of the home, or property type. The appraisers fees are usually included in the closing costs of the home, unless a deal on the property is not made.

Is it time to throw in the towel if the appraisal is too low?

First you need to see why the appraisal was low. It could be something that the homeowner could correct, or the home could be overpriced. If it is overpriced see if the homeowner would come down on their price. You can also request another appraisal on the home, keep in mind that you are the one paying for these appraisals.

As a seller what can you do to make up for a bad appraisal?

The first thing you need to do is see why it was appraised lower, it could be because of maintenance or repairs. If this is the case you can get another appraisal after they have been fixed.

Another way to increase the appraisal price is cosmetics, especially in an older home. New paint, appliances, carpet and replacement windows are all ways to add to the value of your home.

The Worst Best Thing...

I‘m a sucker for an uplifting personal finance story.

We’ve all gone through a situation in our life where it feels like you got punched in the gut. The key element about those situations is that you learn from it. If you don’t, then whole event was a wasted experience.

I emailed my newsletter subscribers and had them share with me what was the number one story or event that made the most dramatic impact on your life financially. I received some amazing stories.

Krissy, a GFC reader, was gracious enough to share her story. Enter Krissy…

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Funny enough, it was being denied for a mortgage that I am now thankful for.

My husband and I had just gotten married, I was a Controller at a manufacturing company, he is a Podiatrist. I got a letter in the mail the weekend after we had applied for a mortgage, trying to buy our first home and I was devastated!

I made fairly decent money, but my husband had only been practicing podiatry for about 1 year full-time.

Credit Check

The problem was mostly our credit card debt – at the time our revolving credit ratio was nearly 30%. I have read somewhere that if you have a revolving credit ratio of 25%, you are heading toward bankruptcy.

The reason I am thankful for being denied a mortgage is that I went to the bank on the following Monday and asked why. They told me that our financial ratios were not good enough. I am an accountant, but I had no idea what he was talking about. So I asked them to explain, and they gave me a copy of the calculation of our ratios, both revolving credit and expense-to-income ratios.

Tracking Begins

Ever since then, I religiously track our ratios and net worth, so before I even apply for any type of loan, I know what numbers they are going to come up with – in fact, I print them my schedule with my calculation of our ratios. It also saves time filling out applications – I can simply print my schedule of assets & liabilities and attach it.

Every time I make a loan payment or get paid and contribute to my 401k, I update my spreadsheets so I can see progress in paying things off and my net worth growing.

Being denied for our first mortgage was the best thing that ever happened to us, because it lead to an early education in personal finance (I was 26 at the time, my husband was 32), which helped us to recently build our dream home and live comfortably, while preparing for a great future financially. Now I devour personal financial material, because although I feel comfortable that I have a good base of knowledge about it, I enjoy learning more that will make me look at things differently that may benefit us financially.

I enjoyed your story about “The Lu” as well because up until this summer, my husband (the Podiatrist) commuted in the 1997 Honda Civic that I bought for $11k back in 1998 after graduating from college. It was rusted out, beat up and had 177k miles on it, but it did the job. We only decided to sell it (for $400) and buy a new Chevy Cruze Eco when the a/c stopped working!

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Thanks, Krissy, for sharing your story!

How about you? What’s your number one story or event that made the most dramatic impact on your life financially? Do share!

Bank or credit union?

In the last few years credit unions have seen a steady increase in customers and deposits.

A local credit union that I was affiliated with saw their total deposits more than double in the past 3 years. That’s amazing growth!

A lot of this increase has to do with “big banks” being harshly criticized in the news. Bank of America was hit the hardest when they announced a $5 a month debit card fee back in September.

Most recently was November 5, deemed “Bank Transfer Day”, a coordinated effort by consumer groups to stray away from “big banks” and their monthly charges. Since September, credit unions across the nation have pulled in 650,000 new customers and over $4.5 billion in deposits..

Whats the big deal with Credit Unions

Banks and credit unions render some of the same basic services, and each offers different types of benefits for customers. If you don’t belong to a credit union, you might not know how they differ from banks.

Banks, which are usually shareholder owned, and for profit companies. Banks offer many different financial services from checking and savings, to loans and CD’s. Banks are federally insured through the FDIC. As a for profit organization, a banks first concern is to generate profits. It dose not mean that they do not care about their customers. It just means that they are looking for the best way to generate income from the services they provide. The profits that banks generate has helped them to offer a variety of services, as well as more branches, ATMs, and better online banking.

Credit unions are non-for profit organizations that are member owned. This means that if you have an account with a credit union you are a member as well as an owner of that organization. Credit unions allow members to vote and be on the Board of Directors. Members only get one vote no matter how much money they have. This helps credit unions look out for the their members best interest.

Credit unions do make money, but it is used to fund required reserves. These reserves help the institution stay afloat during economic downturns, slower income growth and loan losses. Any excess profit that these credit unions make is given back to the members, in higher interest rates and lower fees. Being a smaller institution results in a more personal banking experience. It can also have a negative size as well. Because of their small size, credit unions may not have as many branches and ATMs, as well as a lower quality online banking experience.

Bank Vs. Credit Union?

So where is the best place for you to put your money? This is a hard decision with all of the banking options you have. When it all boils down, it comes to; what to what type of service are you looking for? If your looking for a checking or savings account or a small loan, a credit union may suit you the best. If you are looking for something more for your portfolio, a bigger bank may be the right choice for you since they can offer more on the investment side.

Which ever one you choose, a bank or credit union, be sure to get the most out of your banking institution.

In need of finding a good Credit Union to join?   Check out the tool from buddy’s over at Nerdwallet.com.

As a Veteran, I’m always appreciative when local businesses find ways to show their support and love for our military members. There are many merchants who will be celebrating Veterans Day by offering great sales which consumers can take advantage of to stock up on holiday gifts at a great low price. If you are looking to take advantage of some of these great sales, the following list can help you get started.

Where to find Veterans Day Deals and Discounts

Holiday shopping has become much easier with the help of the Internet. Not only can you locate sales in one easy place, you can also make your purchases from the convenience of your home. Visit the following websites for more information on Veterans Day sales.

Please visit The Military Wallet for a more comprehensive list of 2011 Veteran’s Day Deals and Discounts.

Couponconnector.com

Here you will find information on sales at leading retailers such as Macy’s, JC Penny, Target, Sears, Kohls and Kmart.

DaddyOdeals.com

Check out the Veterans Day sales, coupons and reviews from other visitors to the site.

In addition to the businesses offering sales on Veterans Day, many businesses also want to express their gratitude to the men and women who have served this country by offering other deals. Here we look at a few ways these businesses are showing thanks on this important holiday.

Bed and Breakfast for Vets

Participating bed and breakfast locations will offer a free room to service men and women on Wednesday, November 10th in honor of Veterans Day. Active or retired military members are eligible, however they must contact the participating Inn directly for more information and availability which is limited. Valid military or VA ID will be required to make a reservation.

Free Meal For Veterans at Golden Corral

Golden Corral always does an excellent job of showing it’s tribute to Veteran’s.  The first time I took part in their free meal program, I was amazed at the number of Service Men and Women that showed up – some displaying their military dress uniforms.  I can’t imagine how many free meals they gave away that day, but I know it was a lot.

Please Note: Golden Corral holds their event Monday night November 14, 2011 from 5pm to 9pm. The 10th annual Golden Corral Military Appreciation dinner is available in all Golden Corral Restaurants nationwide. The free “thank you” dinner is given to any person who has ever served in the United States Military. For more information visit http://www.goldencorral.com/military/.

Lowe’s Offers Military Discount For Veterans

Lowe’s home improvement stores are offering a special 10 percent discount to military personnel and retirees over the Veterans Day holiday.

A statement from the Mooresville, N.C., firm says the company is offering the discount on in-store and special order purchases up to a maximum of $5,000.

The company says only people from the active duty ranks, reservists, honorably discharged and retired military men and women with valid identification or proof of service are eligible.

The company says it has 1,675 stores in the United States and Canada and employs more than 12,000 military veterans.

Home Depot Military Discount

he Home Depot announced that the Company is offering all active duty personnel, reservists, retired military, veterans and their families a 10 percent discount off their purchases in honor of Veteran’s Day. The offer is valid on purchases of up to $2,000 for a maximum of $200.

“Veteran’s Day honors the heroic individuals who have served our nation and have made tremendous sacrifices to protect our freedoms,” said Frank Blake, chairman and CEO. “We are proud to show our appreciation with the Veteran’s Day discount as it is a simple, yet meaningful, gesture to say thank you to these men and women who have protected and continue to protect our nation.”

To qualify, individuals must present proof of military service when checking out and discounts will be taken at the register.

Applebee’s Free Meals for Veterans

The chain restaurant has offered free meals to veterans in the past and they will continue the tradition in 2011 as well. As stated on the site, “Veterans and Active Duty Military Enjoy A Free Signature Entree, Veterans Day, Friday, November 11th. Available during business hours on November 11, 2010 at participating Applebees’. Dine-in from limited menu only. Beverages and gratuity not included. Veterans and active duty military simply show proof of military service”.

*”It’s an honor to host an event that helps the neighborhood come together and say thanks to our veterans and active servicemen and women,” said Mike Archer, President, Applebee’s Services, Inc..

Proof of military service includes:

• U.S. Uniform Services Identification Card
• U.S. Uniform Services Retired Identification Card
• DD214
• LES
• Citation or Commendation
• Photograph in uniform
• Veterans Organization Card

For a list of the 7 entrees that Veteran’s can choose from go here.

Hooter’s Has Free Meals For Veterans, Too!

photo credit: Olivier Hill

What’s not more patriotic than Hooter’s  serving up a free wings to military veterans all day on Veterans Day?  That gives all military men a reason to salute!  Offer good for all veterans and active duty military personnel.  This open to all active duty and military veterans with valid military ID or proof of military service. Men, don’t forget your ID’s! Drink purchase required. Check out their website for more info:  www.HootersVeteransDay.com.

Other Free Veterans Day Meals

Chili’s

If you want to spice up your day go to Chili’s this coming 11th of November and enjoy their provision for military veterans. You can choose from 1 to 6 meals. This offer is available during business hours on November 11, 2011 at participating Chili’s in the U.S. only. Dine-in from limited menu only; beverages and gratuity not included. Make sure that you bring your veterans or military ID to enjoy this great deal. Visit their website to find locations.

Famous Dave’s

Famous Dave’s is giving free or discounted meals on Veterans Day for military personnel, veterans and retired military men. Their offering varies by location. So please check the Famous Dave’s Veteran’s Day page or call your local restaurant for more information.

Krispy Kreme – Free doughnut

If you are a doughnut fun and also a retiree, veteran or a current serving military men or women then you can go to participating Krispy Kreme stores on Friday November 11th to get your freebies. However, not all their stores are participating so be sure to call ahead to verify your local Krispy Kreme is participating.

McCormick & Schmick’s Seafood Restaurants – free lunch or dinner

When you feel like eating seafood or steaks on Veteran’s Day then you might want to go to McCormick & Schmick’s. They are celebrating their 13th annual Veteran’s Appreciation Event on Sunday, November 13th. Veterans will be able to choose a complimentary lunch or dinner entrée. Veterans must provide proof of military service. Be sure to contact your local McCormick & Schmick’s as this is valid at participating restaurants only. Also, Space is limited and reservations are highly recommended. For more information visit: M&S Veterans Appreciation Event.

Outback Steakhouse – A week of Free Bloomin’ Onions and Cokes

I so wish their was an Outback buy us, but; unfortunately, there is not. Military veterans and those on active duty are invited to Outback Steakhouse this coming Veteran’s Day. The restaurant is honoring America’s military veterans by offering a free Bloomin’ Onion and a Coca-Cola product during the week leading up to Veteran’s Day.  For more information, visit, http://outback.com/companyinfo/veteransday.aspx.

Subway – Free 6 Inch Sub

SUBWAY®  one of the leading sandwich restaurant in the United States is offering FREE six inch sub or flatbread giveaways on some of their selected locations on Veteran’s Day. This offer is valid only on November 11, 2011 at participating local SUBWAY® restaurants. Military men and veterans are required to bring Military ID or proof of service. Note: SUBWAY® Restaurants are franchises, so this offer may not be available everywhere. Please call ahead for participation and times.

Texas Roadhouse – free lunch

Texas Roadhouse, a legendary steak restaurant in the US has already expand worldwide is offering freebies for military men and women this coming Veteran’s Day. Every Texas Roadhouse location across the country will participate in the free lunch event to honor the men and women of our armed forces. Offer good for All veterans – including all active, retired or former U.S. military. ID Required. See the Texas Roadhouse Veterans Day page for more information.

T.G.I. Friday’s

T.G.I. Friday’s is also participating on Veteran’s Day honoring our military men and women. You can avail of their buy one get one free promo on Nov 11-14. Veterans and serving military men and women are required to bring their old or new military ID to participating locations.

Uno Chicago Grill, Friday

Their would be 19.43% discount on Uno’s food and non-alcoholic beverages purchases from11/7 through 11/11. The reason behind the 19.43% discount? 1943 is the year UNO invented deep dish pizza. This discount is given to all military for veterans and active duty military. ID or proof of service required: Show up in uniform (if your service permits), provide military ID, show a picture of yourself in uniform, or have other ID showing proof of service.

Free days at U.S. National Parks

If your Veterans Day celebration included a trip to a national park, there will be no entrance fee for Veterans on November 11, 2011. This holiday is the next “free day” for this calendar year with more than 100 national parks participating. Here’s some of the more popular ones:

Anheuser-Busch Parks

Attention to all military men and women on active duty, Anheuser-Busch Parks offers free admission for them and up to 3 dependents to any of their parks once a year. Throughout 2011, members of the military and as many as three direct dependents may enter SeaWorld, Busch Gardens or Sesame Place parks with a single-day complimentary admission.  For more information and to register, visit: Free admission summary, and ticket application.

Colonial Williamsburg Free Admission

Good news to all military in active duty, retirees, veterans, reservist and their dependents! Colonial Williamsburg offers free weekend-long admission tickets to them on Friday, Nov. 11 through Sunday, Nov. 13th. The complimentary ticket provides admission to Colonial Williamsburg exhibition sites, art museums, and most daytime programs, as well as free parking and use of the shuttle bus system. Tickets are only available at on-site ticket sales locations. Tickets are also available to families of deployed service members. Tickets available on the following dates: Nov. 11-13.

Historic Jamestowne – Free Admission

The National Park Service commemorates Veterans Day with Fee Free days at Historic Jamestowne November 11-13. Free admission for everyone. See events calendar.

Knotts Berry Farm Military Tribute Days – Free Admission

I used to love this place as a kid!  If you are planning to go to a Knott’s Berry Farm this month and you are a military veteran or in active duty you might be glad with this news. Knott’s Berry Farm  has an annual Military Tribute event in which they offer military members past and present by offering free park admission. This year the Military Tribute Days run from November 1 – 24 November (Thanksgiving Day).  More info.

Free Hugo® Canes for Veterans

To honor veterans and military men on Veteran’s Day, Sam’s Club® locations nationwide will distribute 36,000 Hugo® canes free of charge on November 9th, 10th, 11th, 2011 to U.S. military veterans in need of mobility assistance.

Hurry because there are only limited quantities that are available, and will continue distributing while supplies last. Sam’s Club® Membership is not required, but proof of military service may be required. For more information, visit HugoSalutes.com.

Other Veteran’s Day Discounts

There are other Veteran’s Day Discounts available out there. You only need to provide proper ID or proof of service. Some of these stores are franchises, so verify participation before assuming the discount is in place.

• Amazon.com – Free MP3 album download “Veterans Day Honor” – Amazon.com is giving away a free downloadable album that includes 12 songs as performed by the military bands and ensembles of the U.S. Armed Forces. Visit Amazon now through Veteran’s Day to download the album for free. Remember that this offer is good till November 12 when the album will be sold again on its regular price.
• Dollar General.  Dollar General is offering a 10% discount on entire purchase on Veteran’s Day. This provision is given to all active-duty military, retirees, veterans, Guard/Reserve, & immediate family members. The coupon can be found in the store circular, or by asking an employee. Also good online from Nov 11-13, use Coupon Code VETERANSDAY. More info.
• Free Car wash. Veterans are grace with free car washed throughout the country on Veteran’s Day compliment by thousands of car washing companies. You can check out the Grace for Veterans list, which helped veterans receive 101,537 FREE Washes on Veterans Day in 2010.
• Seven-Eleven – Free small Slurpee – Seven-Eleven is offering a free small Slurpee on Friday, Nov. 11 from 11 a.m. and 7 p.m. This provision is given to all current and former military members. You need to bring an ID or proof of service for identification purposes.
• Sport Clips – Veterans Day National cut-a-thon and Help A Hero program. Sport Clips is the official haircutter of the VFW and will donate $1 from every haircut during the National Cut-a-Thon to VFW’s Operation Uplink, which provides free phone time to active-duty military personnel and hospitalized veterans. Sports Clips stores also offer a offer a Heroes discount which includes active and retired military. Find a location near you.
• Tim Hortons– All veterans and military men and women on active duty can avail a free donut to all Tim Hortons locations in the US. They are also offering a limited edition Star Spangled doughnut so check it out!

Veterans Day is fast approaching and there are many more deals that will likely become available in the coming weeks. For this reason it is important to keep your eye out for upcoming announcements regarding deals, discounts or freebies that may not yet be advertised for 2011.

photo credit: zphaze

Under my crawl space, in a Rubbermaid bin, I’ve stored a collection of porcelain chickens. I don’t particularly care to keep them, so I’m thinking of selling them. However, I’m not sure how much they’re worth.

Before selling them, I need to do a check. I’m pretty sure, just from eBay, that at least one of them is “worth” something around $75. But, seeing as some of these chickens are bone fide antiques, I’m thinking I might want them appraised before I try to sell them.

Of course, no matter what anyone says they are worth, those chickens are only worth what someone is willing to pay me for them. As you consider what your stuff is worth, and the price you could probably fetch for various items, it’s a good idea to think about where you should sell certain items, and how you are likely to make the most money from them.

Garage Sale

Many people like to have garage sales. They’re quick, and if you do your yard sale right, you can get rid of a bunch of stuff, and have quite a bit of money left over. Your best bet with a garage/yard sale is to focus on small, portable items like clothing, toys and household items. Baby clothes and toys can be huge sellers at yard sales. However, if there is something that you suspect could be truly valuable, don’t offer it at a garage sale — people expect to get bargains, and there are yard salers just looking to pay pennies on the dollar for items they can sell to collectors.

Local Classifieds

If you are looking for a relatively inexpensive way to sell larger, bulkier items, the local Classifieds might be the way to go. People expect that they will have to come pick up such items, and make the proper arrangements for a large enough vehicle. You can also use Craigslist for such items, listing them in your local area. You might have to haggle with potential buyers, but you are still likely to get more money selling your items this way than you would get at a garage sale.

Online Sites

In some cases, you can sell less valuable collectibles, and other items, online. However, you want to try to make sure you limit yourself to smaller items; you don’t want to pay a great deal for shipping. You should also be careful to pack items properly so they don’t get broken. Look through completed listings for items similar to what you’re selling to get an idea of what you might be able to get.

Consignment

One of the increasingly popular ways to earn money on your stuff is to use consignment. Consignment shops are cropping up all over. In this arrangement, a store sells your stuff on your behalf, and splits the profits with you. We actually used a consignment store before we moved cross-country to unload some of the things we didn’t want to take with us. It worked really well. Make sure you understand the agreement before you sign it, though, and be careful of what you offer.

Auctions, Antique Dealers and Pawn Shops

If you have items that are truly valuable (have them independently appraised first), you might do best if you arrange to have the item sold at an auction, or if you offer it to an antique dealer. Even some pawn shops will pay outright — and well — for unique and valuable items. Be sure that you understand the true value before you go in to deal, though.

Bottom Line

There are a number of ways to get cash for your stuff. Even if you can’t sell it, you might be able to barter on a site like Freecycle, or you can donate items in good condition to a thrift store, and receive a tax deduction (be sure to get a receipt).

photo credit: brum d

Getting a degree with an Online School has gained a lot of traction lately. It wasn’t that long ago when online degrees have a certain amount of stigma attached to them, but ever since people starting flooding the workforce with degrees from online schools, employers have started to take notice.

Online schools have to go through the exact same accreditation process as any traditional higher-education degree program. Now that online schools are growing in both number and popularity, many people aren’t sure about how much it actually costs. Tuition costs is a very cost-prohibitive and many people simply can’t afford the tuition of a lengthy degree program. Now that online degree programs are so accessible, many people wonder: is it cheaper to get an online degree?

Are Online Courses Cheaper?

The answer to whether or not an online degree cheaper than a traditional one is a little more complicated than a simple yes or no. There are many factors at play on both the national and local level. Of course, going to an online school would be cheaper than a big named school, but there are some instances when it would be far less expensive than going to a local community college.

For the 2010-2011 school year, CollegeBoard.org released the figures for the trends in current college pricing. It varies greatly depending on which type of institution you’re going to. If you’re comparing brick-and-mortar institutions, the pricing applies as follows:

Note: These figures aren’t set in stone and vary depending on the institution. With that said, this gives you a pretty good idea of the relative cost of traditional schools and how much it would cost you compared to an online degree. When you’re trying to ascertain the full cost of an online program, it gets a little bit more complicated.

Taking Online Courses Gives You Options

When you’re taking online college course, it doesn’t really matter which state you live in, you’re never an out-of-state student. This is a factor that can be a deciding factor for many thinking about the online option. This is an area for potential savings, because when you’re an out-of-state student at a traditional college, the price goes up quite a bit. The average markup for these student is, on average, about $12,000 dollars. When you attend an online college, you pay the same tuition, regardless of your location within the country.

After you go over the various expenses of going to traditional schools versus online programs, you then get down to the dollars and cents where things really start to become more clear. When you’re getting an online degree, there are many ancillary costs that people usually don’t factor into the equation. When you’re attending class online, the only things you need is computer, Internet connectivity, and source materials. After that, you don’t have to thing about food, transportation, on-site living expenses, and all the other costs.

If you’re factoring in all of the costs, if you want a four-year degree, online programs are usually less expensive. However, if you’re just going for an associate’s degree or basic training in a trade program, you might want to look into local options. The cost difference really comes into play depending on your specific education goals. If you have any questions, you can always look online to figure out which option works best for you. Just make sure you’re asking a lot of questions and that you have a good idea of what exactly it is you’re trying to accomplish with going back to school.

photo credit: CEThompson

If you’ve ever had a fight with your spouse or partner about money, you’re certainly not alone. I’m sure you know that the majority of divorces and breakups are the result of conflicts about money.

What happy couples know is that there’s a right way and a wrong way to communicate about money. Even if you don’t see eye-to-eye about everything in your financial life as a couple, there is a way to find middle ground.

Advice from Money and Relationship Experts

I recently interviewed Bethany and Scott Palmer, 2 money and relationship experts and authors to find out more about specific techniques they recommend for their clients. We had a frank discussion about how couples with different “money personalities” can make it, even though they may be complete opposites when it comes to every aspect of their personal finances.

What are the Money Personalities?

There are 5 basic money personalities and each one of us usually has 2 of them—a primary and a secondary. Of course, there’s a classic Saver and Spender. But the Palmers also define a Security-Seeker, a Risk-Taker, and a Flyer. The names pretty much say it all, but let me explain the Flyer. A Flyer is someone who flies by the seat of their pants when it comes to money because they don’t like thinking about money or making financial plans at all. They might be a creative person who just doesn’t have any interest in or emotional attachment to money.

How to Blend Your Money Personalities

You can learn more about the 5 money personalities in my audio interview. But what really interested me was the fact that most couples have different money personalities. If opposites attract, how in the world do couples blend their money personalities so they don’t fight and bicker about money on a daily basis?

When money personalities collide, the best way to cope is to realize that we’re all different and that there’s no right or wrong money personality. If you’re a Saver, you might not understand exactly how a Spender or a Risk-Taker thinks, but you have to respect their psychology and know that it’s valid.

How Should Couples Talk About Money?

The key to working through any financial conflict is to get it out in the open. Take a hard look at how you talk about money. If you’re honest and transparent about your financial ideas and actions, you can build a fantastic relationship with that information. But if you procrastinate financial decisions, sweep the topic of money under the rug, or refuse to be honest, your relationship is in deep trouble.

The Best Way Couples Can Communicate About Finances

Here are tips from the Palmers’ book, First Comes Love, Then Comes Money, about how couples with common money personalities that clash can take their financial communication to the next level:

Combination #1: Spender and Saver

Since Spenders and Savers are so different, communication is essential for survival as a happy couple. Each person must be empowered to articulate their needs clearly. They also have to view their relationship as a true partnership; otherwise each person will feel emotionally isolated and misunderstood.

Many times the Saver is in charge of the family finances, and the Spender has no idea how much money is coming in or going out. When the Saver includes the Spender in financial decisions and they work on financial tasks (like budgeting) together, a Spender is more likely to understand why their spending may jeopardize their financial goals.

Combination #2: Spender and Security-Seeker

A Spender typically lives in the moment and a Security-Seeker thinks about the future. For these polar opposites to be happy, they have to compromise on how money is spent. The Security-Seeker has a fear that they’ll end up destitute if they’re not financially prepared for the unknown. But if a Spender trivializes that fear, they risk exacerbating a Security-Seeker’s anxiety, which can cause fights.

A Spender can calm a Security-Seeker by sticking to a budget and being completely transparent about their spending needs. The Security-Seeker can make peace with a Spender by giving him or her freedom to spend within preset limits and not being too controlling.

Combination #3: Saver and Risk-Taker

A Saver doesn’t like to part with money but a Risk-Taker is impulsive and willing to swing for the financial fences. Each one is frightened by their partner’s psychology around money, which can make the relationship very complicated. The Saver worries that their money will disappear at the hands of the Risk-Taker and can get resentful about it. The Risk-Taker worries that the Saver doesn’t believe in their ideas or wants to kill their dreams and may make big financial decisions in secret.

A Saver and a Risk-Taker must agree to have open communication and make financial decisions together. A Saver needs to give a Risk-Taker some breathing room by letting them risk some of their income. But a Risk-Taker has to respect the wishes of a Saver to keep a healthy financial safety net just in case their ventures don’t pan out.

Stop Fighting About Money for Good

When you understand how you and your partner think about and are motivated by money, you can start a healthy dialog about it. The next step is to change the patterns in your relationship that are causing tension so you can stop fighting about money for good.

For more advice about how to effectively communicate with your partner about money, be sure to listen to my interview with 2 money and relationship experts.