They claim if you sing a country song in reverse, you can recover your pick-up truck, your house, your dog and your girlfriend. It is like winning the lottery. You get your money and life back.
I tried singing my favorite country music song backwards. I'm still miserable, broke and married (just kidding). It didn't work.
So I did the next best thing to improve my financial life. I went to a Clark Howard Seminar Sunday night along with your Mom. Clark is the symbol of "cheap". He has opinions on squeezing the savings out of everything from credit cards, phone contracts and mortgages to sleezing banks and life insurance. I always learn something from Mr. Howard. Here is some of his advice.
Never take out a mortgage that has a floating rate. Lock in the longest low interest rate that you can.
Never buy a "whole life" insurance policy. Always use term insurance. Go to "insure.com".
Stay away from Bank of America on mortgages. Their policies stink! They have no intention of helping clients that are facing forclosure. One person in the audience relayed a story of calling B of A for help because he had been laid off. He started calling at 8:00 AM and was on the phone until 2:00 PM. He finally reached the person he thought could help and he was disconnected. I'm sure B of A is not the only lousy bank.
Never let your child take student loans exceeding their potential first year salary. So if Grand-daughter Keely borrows to while going to college, her loans should not exceed the $100,000 she will make working for a big bank the first year.
The best deals on Cell phones are presently with Wal-mart. For $30 per month, you can get 1000 minutes of air time and 1000 text messages. For $45 per month, everything is unlimited including web access. Clark Howard had a Wal-mart cell phone.
Anyone with a Citi-bank credit card has recently been notified that they will pay a $60 annual fee if they don't charge $2,400 on the card over the course of a year. Apply for a credit card with a different low cost provider. Do not drop "Citi" until you get your new card. It impacts your credit score.
There! I've passed on tips that will save you lots of money. My advice is free. Of course I have no assurance you will start listening to my advice now.
Daylight Saving Time begins March 14. There is hope!
Love,
Dad