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February 08, 2012

Amazon to open real-world store this year: report

Amazon doesn’t need any PR bumps, but let’s give it one anyway, shall we?

A_com_logo_RGBMy favourite Amazon story goes like this: one weeknight in 2010, I caught a late-night showing of The Social Network. Certainly, it was the year’s best movie, and so inspired was I that I came home and said, Hey, I oughtta read the book that was made from.

So sometime after midnight, well into the a.m., I placed an order for Ben Mezrich’s “The Accidental Billionaires.” Before the end of the next work day, it was at my door.

I’m not a paid Amazon advocate, just a fan of its convenience. So why, then, would a service as punctual as the web retailer actually open its own bricks-and-mortar store?

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Posted at 12:36 PM in Consumer news, Current affairs, Shopping | | Comments (0) | TrackBack (0)

February 08, 2012

Are you actually able to save any money these days?

While the U.S. household savings rate averaged nearly 10% in the 1970s and 1980s, it was handily eclipsed by the amounts Canadians were able to put aside for the future. In fact, we were saving close to twice that, way back when.

AdFrugal Canadians, profligate Americans? Maybe, but not any more.

Over the last 12 years, we've been catching up. So much so, that there's no longer much of a difference between the two countries at all.

Over the past decade, most North Americans essentially stopped saving altogether, as the average savings rate has hovered between 3 and 4% in recent years.

But those are the big picture numbers. What's actually been happening in your house? Are you able to put any money aside these days?

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Posted at 06:17 AM in Economic news, Family finances, Frugal living, Saving tips | | Comments (20) | TrackBack (0)

January 11, 2012

Does dumpster diving do any real harm?

Bothered by the guy shuffling through your blue box? Then you really have to meet David Brown and Greg Mann. 

AdThe pair are part of a growing movement of not necessarily down and out dumpster divers, also known as “freegans” or “urban harvesters”.

Documented in their film I Love Trash, they decide to rent an unfurnished apartment and fill it from the bins around them. They start out with only the clothes they're wearing and a flashlight, but end up furnishing their digs surprisingly comfortably.

In fact, it turns out that they are not only able to 'survive' but are able to find pretty much everything they could need and more.

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Posted at 06:27 AM in Buying behaviour, Frugal living, Saving tips | | Comments (6) | TrackBack (0)

December 23, 2011

Kevin O’Leary’s four reasons to cut holiday spending: keep more by giving less

An old holiday adage says that it is better to give than to receive. I disagree. Giving is costly. This holiday season, give your kids the lasting gift of common sense instead of the short-term satisfaction of their entire wish list. Read my four reasons for why you should cut down on the time and money you spend at the mall during the holidays.

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Posted at 11:25 AM in Behaviour, Books, Buying behaviour, Buying tips, Debt, Education, Family finances, Frugal living, Money management, Personal finance, Saving tips, Wealth | | Comments (3) | TrackBack (0)

December 21, 2011

The car rental fees you didn't know about

Heading south sometime this winter? Maybe you should bring your own car this time.

AdIf not, remember that the advertised price for a rental car bears no relationship to the price you will actually pay, especially at big city airports, reports Consumer Traveller. And those costs are likely to go up.

In the U.S, Arizona, Texas and Florida seem to add some of the highest mandatory extra fees but the additional charges are pretty significant everwhere you go.

While these extra charges usually show up in the estimated total shown on the screen, you won't find them in the base rate, largely to drive profits, CT explains. Here's what to watch for, warns Independent Traveler. 

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Posted at 11:07 AM in Consumer news, Saving tips, Snowbirds, Travel | | Comments (2) | TrackBack (0)

December 20, 2011

Canadians to save more in 2012: report

At this point after the recession, almost two-and-a-half years now, you’d think Canadian consumers would begin to slip.

Stock-photo-17554985-piggy-bankAfter being slammed by the downturn, said by many to have been the result of personal and Wall Street misspending, we naturally changed in the years after, tightening our belts and tightening our purse strings.

Yet that’s all fine and good for appearance’s sake. By now, at the end of 2011, a time when credit card use is climbing back up, we’d surely regress gradually to the mean, right? Certainly, we would return to spending like Venetian tourists, return to succumbing to impulse …

… but, wait, not only have we not slumped in our fiscal responsibility, perhaps we’re improving still.

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Posted at 10:53 AM in Consumer news, Current affairs, Saving tips | | Comments (2) | TrackBack (0)

December 13, 2011

Just how far are you willing to drive for cheaper gas?

Just how far are you willing to drive for cheaper gas? About 3 to 5 kilometres, say most MSN readers in a recent poll. Although a few would range as much as 10 kilometres. Ad

Although gas prices are expensive everywhere, some stations do sell it for a bit less than others. But does it really pay to shop around a bit?

In a big city, with a variety of prices available at stations within a few miles and even blocks of each other, maybe. But that takes time, although sites like GasBuddy and Ontariogasprices can at least help you avoid driving around checking out signs. 

Obviously, at some point the price of driving outweighs the savings. Here’s a quick calculator (in gallons, however) that can help you figure things out. And then, of course, there’s the cost of waiting.

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Posted at 04:56 AM in Cars, Consumer news, Personal finance, Saving tips | | Comments (0) | TrackBack (0)

December 01, 2011

Here's a twist: A program that rewards you for not spending

Recently, we talked about Bill Thaler's work on why most of us have so much trouble saving money.

AdThaler believes that when it comes to something as important as saving for the future, all of us need to be coaxed into developing more self-control, willingness to battle procrastination and the ability to handle short-term sacrifices.

Well, it sounds like someone was listening.

Introducing SaveUp, a new incentive program that rewards consumers for saving money and paying down their debts with the opportunity to earn rewards including cars, vacations, and smaller items like gift cards and electronics.

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Posted at 11:37 AM in Banking, Buying behaviour, Debt, Saving tips | | Comments (7) | TrackBack (0)

November 29, 2011

Snowbirds face irritating gas station hassle

As the snow starts to fly, thousands of Florida-bound snowbirds are gearing up for the long drive.

AdThe good news: Gas prices are still about 20% less than we’re paying here. Unfortunately, you’re probably going to need stacks of cash to buy it.

Billed as an effort to combat “drive off” gasoline theft, more and more ‘Zip Code-required’ gas pumps are popping up along the highway, warns Dave Hunter, author of Along Interstate-75, a popular snowbird guide.

The ZIP-code pump creates hassles for Canadians as it requires drivers to prepay (no on-the-spot refunds if you guess wrong) or leave a credit card with the attendant before filling up.  

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Posted at 01:47 PM in Saving tips, Snowbirds, Travel | | Comments (22) | TrackBack (0)

November 23, 2011

Will new pooled pension plans boost retirement savings?

Despite the best of intentions, many people spend virtually all the money they have, says economist Richard Thaler, in his book Nudge. 

AdThaler believes that when faced with certain options, most people will consistently make the wrong choice. 

Therefore, when it comes to something as important as retirement savings, all of us need to be coaxed into developing more self-control, willingness to battle procrastination and the ability to handle short-term sacrifices. 

That’s tough to do. For most people, saving for a distant goal such as retirement is a challenge. Setting aside even a few dollars each month is difficult in the years of raising children and buying a home, when the need for cash is greatest.

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Posted at 04:13 AM in Behaviour, Pensions, Retirement, Saving tips | | Comments (8) | TrackBack (0)

November 16, 2011

What's the best day of the week to shop online?

It’s no secret that the price of most products can vary significantly based on peak season pressures, the scrutiny of price comparison sites and one-off special events like next week’s Black Friday.

AdNow, it turns out that the day of the week has a significant impact on prices as well, at least when it comes to online shopping.

One of those price comparison sites, Extrabux, along with camelcamelcamel — which updates consumers when prices fall on Amazon — analyzed prices for more than 100,000 products sold online at variety of retailers.

They found that the price of televisions, computers and stacks of other consumer products can vary by anywhere from $20 to $40 from one day to the next. As a general rule, the best day to buy electronics, for instance, is Monday.

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Posted at 04:34 AM in Buying behaviour, Buying tips, Consumer news, Saving tips | | Comments (0) | TrackBack (0)

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AUTHORS
Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...

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