Blog Money Whore

One of the bummers about being frugal is not being able to see new releases. Usually, that’s not such a problem, as major blockbuster movies these days tend to be absolute crap, but I really do want to see Indiana Jones, WALL-E, The Dark Knight, and maybe even Mamma Mia! This time around, instead of waiting, use your Discover card at Fandango with their current buy one get one free offer!

Here are the terms and conditions:

This offer is only valid for Discover® Cardmembers who purchase at least one movie ticket on Fandango.com. The one free movie ticket must be used at the same time as the first movie ticket purchased on Fandango.com. This offer is valid from a limited time from 07/01/08-09/30/08, while supplies last. The one free ticket is up to a $12.50 value, including a convenience charge. Limit one free ticket per customer.

This is really sweet! I’m now set to watch the latest Indy movie on Thursday at the bargain price of $8.75 for two tickets! Plus, there’s the Discover cashback! It really doesn’t get better than this.

And once you use up that promotion, try out my Ten Ways to Watch Movies for Free without Breaking the Law.

If you read my other blogs, then by now, you know that I’m currently backpacking through Europe. I’m currently sitting in the bar at my hostel in Rome using the free wireless, so thoughts about exchange rates and budget travel are high on my mind. As a result, I’d like to share some tips for how to travel cheaply while not skimping on enjoying your trip. If you have any tips on how to travel cheaply, particularly in more expensive locations like Europe, then please please please leave a comment! I’d love to hear them!

1. Use ATMs to get cash. Do not exchange currency at hotels, at the numerous change bureaus, banks, etc. Simply go to any ATM, stick in your American ATM card, and get whatever the local currency is. It’s the absolute best rate, and many banks don’t even charge fees! I have a Schwab investor checking account, and that works perfectly for getting cash at the best possible rate with no fees. In fact, they even refund ATM fees paid to other banks! It’s really quite incredible.
2. Stay at hostels. Before last year, I’d never actually stayed at a hostel before. Now, this is pretty much all I’ll stay at. Why? Well, it’s dirt cheap compared to a hotel room! The lack of privacy can be annoying at times, but the fact that you get to meet all sorts of people and the price more than make up for the minor headaches. I’ve also found that many hostels are cleaner and better maintained than most one or two-star hotels in Europe. And if you really desire privacy, you can usually get a private room at a hostel for more money. Hostels are also fine for more than just college students and the such! You just have to be young at heart. I’ve met plenty of older people and families at hostels, though they tend to be rarer. To find a good hostel (or even inexpensive hotel, apartment, pension, etc.), then try out Hostel World.
3. Buy food at grocery stores. It’s significantly cheaper than eating out, and most grocery stores have some sort of prepared food for sale that’s decently tasty and usually of some local flavor. Plus, there’s nothing quite like browsing through a grocery store where everything is in a foreign language and that is full of products you can’t buy at home. For example, one of my favorite things about Europe is blood orange juice is readily available. I very, very rarely see it for sale in the USA, and it’s never fresh and usually not 100% juice when it is for sale.
4. Use public transportation. This is probably obvious to those of us who live in big cities, but public transportation is key. In fact, renting a car just seems utterly stupid in many cities due to the serious congestion, high cost of gas, and lack of parking spaces. Public transportation generally takes you to all the sites you’d like to see and tends to be quite reliable in Western and Central Europe. Look out for special all-day, multi-day, or multi-ticket fares rather than individual tickets to save even more money.
5. Don’t use the internet. Internet access is oftentimes really expensive! In Zurich, I paid close to ten dollars per hour to check my email. Did I really need to check my email? Of course not. Use travel to unplug from the internet and to unwind. If you absolutely do need to check your email, though, then do yourself a favor and lug around a laptop. Free internet access is oftentimes available. You just have to search around for it. Otherwise, you can usually find something fairly cheap by walking a little off the main tourist paths.

I spend a lot of time on eBay. For those who think it’s just full of scam artists and toenail clippings, look again. Many listings are for brand new items, and tons of trusted stores sell on eBay. Yes, I’ve gotten ripped off once before, but the amount I’ve saved and the ability to buy items I couldn’t have otherwise more than made up for that. I’ve also become smarter about how I bid to prevent something like that happening again, e.g., I only use a credit card now and never ever send money orders or checks. I’ve had more, worse experiences with known, “trusted” retailers than the ~1000 transactions I’ve conducted on eBay, so I don’t really give a second thought to buying from someone on eBay with a good feedback profile and clear listing.

Anyway, here’s my process for saving as much money as possible:

1. I check the price at common stores and at the manufacturer’s price to get a general idea of what street price is. Then, I do a search on PriceGrabber and/or Google Product Search to see what the absolute lowest retail price is. Oftentimes, these prices are actually lower than eBay’s prices, and I’ve seen people overpay dearly when they could’ve dealt with a known, trusted retail store instead of a potentially shady seller.
2. Search like crazy on eBay. Search both titles and descriptions and include multiple version of words, model numbers, etc. including common misspellings using the parentheses search operator. For example, if I wanted to buy the Brother HL-2400 printer, then I’d search for (brother printer, hl-2400, hl2400, brother 2400, borther, brother lasar, brother laser). That would return all results that include both the words brother and printer, hl-2400, hl2400, brother and 2400, borther, brother and lasar, or brother and laser. If I want the item fast, then I sort buy it now listings by price + shipping. Pay special attention to just listed items. Occasionally, items are listed with excellent buy it now prices that must be snapped up immediately. If time isn’t important, then I sort by ending soonest.
3. You can generally skip the featured listings at the top of the search results, as you’ll probably end up paying more for those. However, don’t ignore them completely.
4. If an item seems obscenely cheap, then be a little suspicious but don’t discount it completely. I’ve bought many gray market goods that work perfectly and are genuine products. It’s just that they were originally sold in a non-US market. On the other hand, I would almost certainly avoid buying certain items from foreign locales, as they tend to be fake and will just end up costing you more in the long-run.
5. Once I find all the listings that interest me, I add them to my watch list.
6. Now, the all-important step that I bet most people don’t think of: I quit my web browser and reopen it. I go immediately to BondRewards, click on Shopping, and click on the eBay link. Then, I bid and pay for the item I want. BondRewards gives 85% cash back on the transaction fee (not the end price). Considering fees just went up on eBay, this has become even more attractive. If you’re too impatient for savings bonds, then try out FatWallet, which currently gives 1% cash back on the end price. Many people don’t bother with cash back sites, which I think is a tremendous mistake. It’s not like this is an onerous task like submitting a rebate. You just click on a link! It’s really easy!
   
7. Once you win the item, pay with a credit card that offers rewards via PayPal (or the merchant’s own service if available). I use a card that gives me 2% cash back on all purchases. Just make sure that you switch the payment method from your bank account to a credit card! I frequently make this mistake when I’m not paying close attention.
8. Lastly, be patient. If you don’t win the item for a good price, then try again. Competing bidders don’t always materialize for auctions even for popular items.

Don’t forget that you should also opt-in to receive emails from eBay and PayPal. There are occasional coupons. For example, I just received a coupon last week for $5 off shipping on five items. That was perfect, as I was about to buy some Wii accessories anyway!

One thing that you may notice is I’ve left out eBay sniping services. That’s for three reasons. First, I’m not convinced they actually save you all that much money. I remember doing the math once for a game theory class and found that the optimal price is exactly the market price anyway. Of course, the real world doesn’t necessarily behave the way economists expect, so take from this what you wish. Second, I don’t necessarily trust sniping software to bid successfully, and it certainly doesn’t give you the option of going back and raising your bid. (Just don’t get carried away with bidding more than you’re willing to spend!) And third, sites like BondRewards and FatWallet won’t give you cash back for using sniping software.

Anyway, I hope this gives you insight into how to save more than you ever have on eBay. If you’re not yet a member of BondRewards, then please leave a comment with your email address (don’t worry; your email address will never be made public) so I can send you a referral.

Buying earrings or even rings for women is much more tougher than buying men’s shoes. Items like watches and sunglasses too take forever to be chosen.

I try not to spend money on new stuff, but when I do, I follow a few simple rules:

1. Always use a credit card with rewards. It boggles my mind that there are people out there using credit cards that offer absolutely no cash back or points. Unless you have bad credit, then you’re losing out! I primarily use a card that offers 2% back on all purchases, which are deposited quarterly into a 529.
2. Always use the credit card with the best rewards for your spending category. For example, grocery stores, drug stores, and gas can often yield you 5% in cash back rewards. Don’t use a credit card that will only get you 1% cash back on those categories! In particular, I take advantage of Discover’s Get More program each quarter when they offer 5% cash back on different categories like travel or movies.
3. Use a website like Bond Rewards (please leave a comment if you’d like a referral) or FatWallet to get a percentage of your purchase back. These sites essentially join affiliate programs and earn money for each customer they refer. In turn, they then give you a percentage of those earnings. The site ev’reward compares rewards and cash back for different sites, so you can always use the highest earning ones. Just keep in mind that earnings can take a really long time to show up and occasionally require a little prodding.
4. Search for rebates and discounts using sites like FatWallet and SlickDeals. Lately, I’ve found myself at RetailMeNot a lot, too, for coupon codes. A popular search for me in particular is to type some store name followed by “coupon”, “discount”, “promo code”, etc. into Blingo.
5. Look for rebates and the lowest prices on PriceGrabber. I especially like PriceGrabber, as they have a rebate program that offers you $5 (sometimes more) for writing a very short review of a product. This is only available to the first 25 (or is it 50?) reviewers and only for some products, and they’ve never denied me a rebate.
6. Be patient. Prices usually drop on items. Do you really need it now? I bet there will be a sale or price drop at some point. Most retail prices have a lot of wiggle room. The day I buy a Wii, for example, is not coming anytime soon. Somewhat related is buy quickly when you see an incredible price. It won’t last long. If you buy from a place like Amazon, then make sure you use a site like Refund Please to take advantage of price drop refunds. Some credit cards even have price guarantees, too. Read the fine print in your agreement!

Also, remember to keep copies of all your rebate forms! Rebate processors are infamous for denying rebates, so you should always be able to provide proof. It’s your money. Make sure they give it to you!

Many people think chasing after rebates and discounts like this is a complete waste of time, but when they find out how much I actually spend on items, they’re invariably convinced that I have the right approach (unless they happen to be total moneybags who like to waste money). For example, guess how much I paid for my TiVo. Absolutely nothing! It was free after rebate. (Side note: do searches on FatWallet for the acronym FAR.) All I had to do was fork over money for a lifetime subscription.

The movie has always been a good standby for entertainment, but over time, the cost of tickets, rentals, and DVDs really adds up. Movie tickets these days are often $10.50! Rentals can easily cost you $3.99! DVDs can cost $19.99 or more! That’s expensive! Guess what, though. I haven’t paid for a single movie in months, yet I’ve seen twenty-two movies since I started logging what I’ve watched on November 18. How do you do it without breaking the law? A number of methods:

1. Sign up for e-rewards. It’s invitation-only, but I’ve never heard of denials. You fill out surveys in exchange for rewards that can be redeemed for Blockbuster rentals. For every $25 of rewards (they’re not truly worth $25: it’s just the way they’re denominated), you can get six free rentals.
2. Sign up for emails from Redbox. They send out occasional coupon codes that can be redeemed for free rentals. You do have to swipe your credit card, but it isn’t charged unless you return the movie late. Coupon codes appear to be limited to once per credit card, which means that you can easily reuse them if you have more than one credit card.
3. Search with Blingo. Seriously. I’ve won a ridiculous number of prizes with Blingo, and one of the frequent prizes is a free movie ticket. Last night, I used a free movie ticket from them to see Juno. I got the movie ticket for answering some interview questions from winning the $1500 cash last year.
4. Redeem points on your Sony Card for Blockbuster coupons and Regal Super Savers. The Sony Card is a Visa issued by Chase. Just do a quick search of Google (via Blingo of course) or FatWallet Finance, and you’ll find tons of offers for it that will include 0% APR on balance transfers and purchases for 12 months and all sorts of bonus points after your first use. I recently collected half a dozen coupons and two Super Savers from them, which I’m still slowly using.
5. Use your TiVo! I have a lifetime subscription, which I’ve definitely been putting to use, and we only subscribe to basic cable! Yup, we don’t bother paying for digital, HBO, Showtime, etc. There’s plenty of programming, especially if you choose to watch according to your schedule by recording movies rather than by watching according to the networks’ schedules.
6. Pay attention to sites like FatWallet Free Stuff and Slickdeals.net. I’ve gotten several free Fandango codes as a result, which I’ve used to see movies in actual movie theaters. I’ve also gotten codes for free movie downloads from services like Amazon Unbox.
7. Sign up for free trials of Netflix and Blockbuster Online and cancel before the trials end. Yes, this really works. Just set a reminder for yourself using a calendar program or something like Time Cave. Sign up through some other site like AA.com to get even more reward points.
8. Subscribe to emails from Wild About Movies. There are tons of free advance movie screenings, though everyone else already knows about them. You usually have to show up an hour or more in advance to stand in line for the better ones. However, not only do you get to see the movie for free but you also get to see it before everyone else! If you’re not doing anything productive anyway, then you might as well stand in line and read a book.
9. Borrow movies from your friends. I’m always amazed at the number of people who buy movies on DVD or VHS. Then again, some people really like re-watching movies, so it does make financial sense given their utility curves, especially if they have kids. I’m more of a watch once and then only if it happens to be on TV sort of guy.
10. When all else fails, mooch! Seriously. My girlfriend used to have a Netflix account and added me as a user. Out of her three DVDs at a time, I got one. That was more than enough to watch dozens and dozens of movies. Plus, I got to watch all the movies that she rented. Not a bad deal!

Of course, remember to return your movie rentals on time to avoid late fees, and skip the concession stands. Last night, I checked the latest prices, and it was $5.50 for a large soda! Are you kidding me? My girlfriend’s frozen drink and medium popcorn came out to something like $11! I’m not shelling out for that! Of course, be forewarned that this may put a serious crimp in your dating experience. All of the above tips are strongly suggested for when you’re buy yourself or with someone who already knows you well and not for first dates. Then again, if you can pull this off on a first date, then she’s a real keeper.