Phil's Personal Finance Tip of the Day:
5 Christmas Extras You Don’t Need
By Dave Ramsey from daveramsey.com
This holiday season, just like every Christmas, you have all sorts of businesses competing for your hard-earned dollars. If you’ve turned on the TV or been to the mall recently, you know they will market you to death.
One thing they love to market is extra stuff. And, usually, it’s extra stuff you don’t need. You know what you must have to buy extra stuff you don’t need? Extra money.
If you’re getting out of debt or building your savings, extra money isn’t part of your vocabulary right now.
But these businesses will do everything they can to tack on extras to your holiday bills.
Check out these Christmas extras they’ll say you can’t live without. Truth is, you don’t need them, regardless of your budget.
You’ll hear the pitch for the extended warranty as soon as you reach the register. So we want you to practice saying this: “No.” It’s a complete sentence. Now, wasn’t that easy?
Decline the extended warranty simply because it’s not a good deal. The math doesn’t make sense because 75–85% of the warranty cost goes to marketing and commissions. Warranties at electronic stores are ridiculous because these stores work on such slim margins. They make most of their money on financing and extended warranties. That’s why you’ll hear a pitch about a $1 warranty on your $2 pack of chewing gum.
To read the entire article from daveramsey.com:
http://www.daveramsey.com/christmas/blog/id/5-christmas-extras?ectid=1212cnlextra&et_cid=2214834&linkid=http%3a%2f%2fwww.daveramsey.com%2fchristmas%2fblog%2fid%2f5-christmas-extras%3fectid%3d1212cnlextra
Inspirational Quotes@Inspire_Us from Twitter:
If you're going through hell, keep going. -Winston Churchill
One thing they love to market is extra stuff. And, usually, it’s extra stuff you don’t need. You know what you must have to buy extra stuff you don’t need? Extra money.
If you’re getting out of debt or building your savings, extra money isn’t part of your vocabulary right now.
But these businesses will do everything they can to tack on extras to your holiday bills.
Check out these Christmas extras they’ll say you can’t live without. Truth is, you don’t need them, regardless of your budget.
Extended Warranties
You’ll hear the pitch for the extended warranty as soon as you reach the register. So we want you to practice saying this: “No.” It’s a complete sentence. Now, wasn’t that easy?
Decline the extended warranty simply because it’s not a good deal. The math doesn’t make sense because 75–85% of the warranty cost goes to marketing and commissions. Warranties at electronic stores are ridiculous because these stores work on such slim margins. They make most of their money on financing and extended warranties. That’s why you’ll hear a pitch about a $1 warranty on your $2 pack of chewing gum.
To read the entire article from daveramsey.com:
http://www.daveramsey.com/christmas/blog/id/5-christmas-extras?ectid=1212cnlextra&et_cid=2214834&linkid=http%3a%2f%2fwww.daveramsey.com%2fchristmas%2fblog%2fid%2f5-christmas-extras%3fectid%3d1212cnlextra
Inspirational Quotes@Inspire_Us from Twitter:
If you're going through hell, keep going. -Winston Churchill
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