7.29.19 More people are ditching home internet; Watch out for these fake charges; You might actually need flood insurance

7.29.19 More people are ditching home internet; Watch out for these fake charges; You might actually need flood insurance

The simple scam hitting millions of us is an easy rip-off to watch out for.  Consumer warning: What you don't notice on your monthly bills can cost you. While a big bank looked the other way, criminals stole untold hundreds of millions from consumers. The bank had sold all the credit card numbers in their portfolio to crooks who put fake charges through monthly for 3 years. The bank played dumb and 93% of consumers never noticed fake charges hitting them every single month. The worst part is that the criminals are heavily targeting debit card users. If you don't notice immediately a fraudulent debit, you don't have the rights that come with credit cards. The money is gone forever even if your bank acknowledges the fraud. You're out the money. It's up to you every month to look through credit and debit charges. If something doesn't look right - dispute it.

Much of the country has seen devastating flooding. Even outside federally designated flood zones there is risk. Facing that risk is vital.  By FEMA's own admission, current flood maps are out of date and incomplete around the country. 3 additional factors: rising sea levels, development replacing ground cover with asphalt and increasingly severe weather patterns - are putting more properties at risk of flooding. The Midwest is suffering mightily from extreme flooding, devastating the lives and finances of many. The terms "1000, 500 and 100 year floods' refer to specific math formulas and are not to be taken literally. Be realistic. If you can see development above you, you could be a sitting duck for flooding, which regular insurance does not cover. Check prices at




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The cost of home broadband has gotten so expensive and more consumers are disconnecting home internet in favor of cell phone Wi-Fi. USA Today reports 40% are using cell phone internet exclusively now for service. They're finding that it works out fine. On cell phones, people don't have to worry about data overages. Some carriers may impose network management for those who've used a lot of data that month and find themselves in congested areas, by crawling service till the next billing cycle. But there's no overage. This is a great alternative to paying huge money to a cable monopoly for home internet service.The simple scam hitting millions of us is an easy rip-off to watch out for. Consumer warning: What you don't notice on your monthly bills can cost you. While a big bank looked the other way, criminals stole untold hundreds of millions from consumers. The bank had sold all the credit card numbers in their portfolio to crooks who put fake charges through monthly for 3 years. The bank played dumb and 93% of consumers never noticed fake charges hitting them every single month. The worst part is that the criminals are heavily targeting debit card users. If you don't notice immediately a fraudulent debit, you don't have the rights that come with credit cards. The money is gone forever even if your bank acknowledges the fraud. You're out the money. It's up to you every month to look through credit and debit charges. If something doesn't look right - dispute it.Much of the country has seen devastating flooding. Even outside federally designated flood zones there is risk. Facing that risk is vital. By FEMA's own admission, current flood maps are out of date and incomplete around the country. 3 additional factors: rising sea levels, development replacing ground cover with asphalt and increasingly severe weather patterns - are putting more properties at risk of flooding. The Midwest is suffering mightily from extreme flooding, devastating the lives and finances of many. The terms "1000, 500 and 100 year floods' refer to specific math formulas and are not to be taken literally. Be realistic. If you can see development above you, you could be a sitting duck for flooding, which regular insurance does not cover. Check prices at Floodsmart.gov . If you're in a low risk area, the premiums vs the coverage are reasonable - a few hundred a year in a low risk area for around $250,000 in coverage.Learn more about your ad choices. Visit megaphone.fm/adchoices Read more

7.23.19 Could fake grass save you money?; The CFPB sides with business over consumers; Cheap contact lenses

7.23.19 Could fake grass save you money?; The CFPB sides with business over consumers; Cheap contact lenses

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Putting in fake grass could be better for the environment and for your wallet; The CFPB has created a co-branded card with H&R Block. The CFPB is siding with businesses now instead of consumers; It's really hard to find cheap contact lenses. Clark tells you where to shop.Learn more about your ad choices. Visit megaphone.fm/adchoices Read more

How I saved my father $283/month in one afternoon

During a morning coffee with my father, he mentioned that he would like my assistance with looking over a few bills to see if I could help him save a little more money every month.

At 62, he’s mostly preoccupied running his own small business and doesn’t have the time to track down the best deals or shop for cheaper services. Luckily, he has a daughter who is a member of Team Clark and spends her entire day helping others save more and spend less!

How I saved my father $283/month in less than one day

It took less than two hours to save my father more than $280 every month. Want to know my secret? Read on to see exactly how I did it…

Step 1: Review bank statements

I looked back at his bank statements from the last three months and pulled out the most expensive recurring charges:

• Cable
• Internet
• Cell phone

Step 2: Negotiate bills

Pay TV

First, I called the cable company. I explained that I was calling on behalf of my father who was present and wanted to explore opportunities to reduce his bill.

After some discussion, I realized there was no better deal they could offer than the streaming options I found in the Team Clark streaming guide.

We canceled the cable service and looked at the channel lineups offered by the top streaming services. My dad decided that YouTube TV was the best option, so he’s now paying just $49.99/month!

(I have this service and I love it so I was confident my father would be happy with it, too.)

Old cable bill New streaming TV bill $158.24/month $50/month Monthly savings: $108.24

Resources to save money on your pay TV bill:

Internet

Before I called the internet company to negotiate the rate, I asked my father how much he used his landline. We came to the conclusion it really was just something that was familiar — not an item that served a useful purpose (especially since it was really just a target for robocalls and scammers).

Once I knew we could eliminate that as a requirement, I searched for promotional offers in his area and found he could get 300 Mbps speed on fiber for $50/month. That is more than the minimum speed he needs to stream TV and do his work — sold!

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Old internet and landline bill New internet bill $171.50/month $50/month Monthly savings: $121.50

Resources to save money on your internet bill:

If you’re not keeping track, that’s already $229.74 in monthly savings so far!

Cell phone service

My father takes care of his elderly mother and her mobile line is also included in his plan. I called his cell phone provider to learn about the extra charges on his bill. I discovered that he was paying for cell phone protection even though one of his credit cards provided coverage!

In addition, he was paying for Verizon Call Filter as an added blocking tool for scams and robocalls. I requested the company to remove the filter. To ensure they are still protected from robocalls, I downloaded Hiya — a free robocall-blocking service — to both of their phones.

Looking over the bill, I noticed that there was a vehicle diagnostic and tracking device added to their account that was under a two-year contract. I was able to have it removed without an early cancellation fee because it was sold to my 84-year-old grandmother who had no understanding of what it was or how to use the product.

Finally, I negotiated my dad and grandmother into a prepaid plan with unlimited talk and text and 6GB of data for only $68/month.

Old cell phone bill New cell phone bill $121.37/month $68/month Monthly savings: $53.37

Resources to save money on your cell phone bill:

Final thought

While the idea of negotiating your cable, internet or cell phone bill with a company can seem complex, it’s not as hard as you may think when you have the right tools.

In fact, I spent one afternoon making a few calls and saved my father $283 every month — that’s $3,396 a year!

Old bills New bills Pay TV: $158.24/month Streaming TV: $50/month Internet and landline: $171.50/month Internet: $50/month Cell phone: $121.37/month Cell phone: $68/month

Total monthly savings: $283.11

Have you lowered a bill recently? Let us know in the comments below! We also invite you to sign up for our Clark’s Money Challenge newsletter for more ways to save money every month.

More Clark.com resources to manage your budget:

Cable vs. Streaming: Does cutting the cord really save you money?

When I started reviewing live TV streaming services for Clark.com, Sling TV’s cheapest monthly plan was $20, DirecTV Now was giving away Apple TV’s if you bought a few months of service and YouTube TV was only $35 per month.

Fast forward a couple of years and the main streaming TV companies have all raised prices, citing higher programming costs.

Cable vs. Streaming: Which is a better deal?

Every time I update my streaming TV articles with news about a price hike, I hear from readers who say they’re better off sticking with traditional cable or satellite TV. But is that really the case?

In this article, I’ll address some of the arguments for and against streaming. Let’s get started with some numbers…

According to the Leichtman Research Group, 78% of households subscribe to a pay-TV service. They pay an average of $107 per month, which is up 1% in the past year.

If you switch to a base streaming TV plan, you can cut that bill in half. Take a look:

Based on that $107 monthly average, you can sign up for any of the base streaming TV services above and save $50 a month or more. But there’s more to know before deciding whether cable or streaming is right for you.

Next, let me address three specific questions and concerns that I get from Clark.com readers.

1. Internet cost 

I receive emails all the time from people who say the numbers I provide are misleading because I don’t include the monthly cost of internet service, which is required to stream.

Here’s why: More than 80% of households get internet service at home, according to Leichtman Research Group.

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If someone in your household works from home or goes to school, chances are you’d be paying for internet service anyway. That’s why I treat internet as a separate monthly bill.

After all, the $107 monthly average is for pay-TV alone, not a TV and high-speed internet bundle.

Key takeaway: If you’re someone who doesn’t need internet at home and already has a competitive rate with the cable company, switching to streaming may not save you $50 a month or much at all.

RELATED: How to find the best deal on cheap internet service

2. Additional fees

While we’re talking about rates, there’s something else you should know when comparing cable and streaming prices.

When you visit a cable TV provider’s website, the price you see isn’t the price you pay. Broadcast and sports fees can drive up your bill significantly, plus there are monthly equipment charges.

The promo rate you see may involve signing a one-year or two-year contract, with hefty early termination fees.

Meanwhile, live TV streaming services have no contracts, no equipment charges and no extra fees. I subscribe to Hulu + Live TV and pay $44.99 per month — the same rate that’s advertised on its website.

The chart below illustrates the differences between a typical cable TV and streaming TV package:

Typical cable TV package  Typical streaming TV package  Monthly cost $100 $50 Number of channels 150+ 60+ Cable box or equipment fees Yes No Streaming device No Yes Internet connection Not required Required Free DVR Sometimes Sometimes Premium networks (HBO, Cinemax, SHOWTIME) Extra monthly fee Extra monthly fee Watch anywhere from phone, computer or TV Less flexibility Greater flexibility Contract or cancellation fees Yes/Sometimes Generally no Broadcast TV and sports fees Yes No Free trial period No Yes

3. Content 

Over the last year or so, skinny streaming TV bundles have fattened up and so have the prices. But for every person who says there are too many channels, another person will focus on the channels that are missing.

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What I hear most often is that people would like to pick and choose networks, not be forced to pay for what they don’t watch.

Unfortunately, that’s not how cable and streaming TV plans are sold. But with a streaming service, you could get most of the channels you want and fewer of the ones you don’t  — for a lower price.

To see if that’s possible, there are two easy steps to follow:

1. Open your cable TV guide and make a list of you must-have channels
2. Search for those networks using our streaming TV channel comparison chart

Important note: Not all streaming TV services will carry your local ABC, CBS, NBC, FOX and independent stations. You may be able to pick them up with a digital antenna.

Read Team Clark’s 4 tips for first-time streamers here!

Final thought 

If you want to cut your pay-TV bill in half by switching to streaming, it’s still possible. Stick to a base plan and avoid expensive add-ons and premium features that make the streaming vs. cable savings insignificant.

I’ve found that cutting the cable TV cord is easiest for those who really want to save money and make that a priority.

If you’re excited about getting that $50 a month back in your life, you’ll be more willing to give up some channels, learn a new interface or deal with occasional buffering.

But if you expect streaming to be exactly like cable or satellite, you may very well be setting yourself up for disappointment.

More Clark.com stories you may like: 

6 ways a pressure washer can save you money

Whether or not you’ve personally used a pressure washer, you’re likely already aware of their cleaning ability. YouTube videos like this one boast over 4.3 million views. There are entire channels devoted to the pleasure of watching things go from utterly filth to pristinely clean with nothing more than a forceful blast of water.

John and Sherry Petersik of the blog Young House Love demonstrated some pressure washing projects on their Instagram, and before they knew it, their devoted followers began tagging the couple, which led to this awe inspiring collection of pressure washing videos that blow past the normal expectation of clean driveways and brick walls. This is all especially impressive since their recommended model costs around $100.

Seriously, just check out this doormat:

Before you start your own pressure washing project, it’s important to follow a few simple safety rules. Consumer Reports published this informative article, which includes the precaution to “Wear goggles, long pants, and sturdy footwear—never flip-flops—to protect yourself while using any pressure washer.”

You already know that pressure washers can work magic on driveways, sidewalks and brick patios, but there are so many other items that can be brought back to life through pressure washing.

Don’t replace these things — clean them with your pressure washer!

1. Outdoor cushions

Even if you’re disciplined about covering your outdoor furniture, chances are it’ll still get buggy and grubby eventually. However, a quick spray with a power washer can brighten colors and remove that inevitable green gunge that nature has to offer.

Tip: Make sure to start on the lowest setting and do a test spray on an inconspicuous area as to not rip into the fabric.

2. Plastic play equipment

If your backyard is home to a plastic play house or similar structure, you know how filthy these items can get. It can be tempting to toss these things and start over after a few seasons, but a pressure washer can get into all those nooks and crannies that a regular hose cannot.

Tip: Disassemble the equipment first so you’re not in the playhouse while using the pressure washer. Snap a photo first to remind yourself how it’s put together.

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3. Outdoor (and even indoor) rugs

Outdoor rugs are great for creating cozy conversation areas. However, they’re notorious for their filth, as trapped moisture has nowhere to go, thus creating an inviting environment for moss, mildew and various creepy crawlies. Introduce the power of a pressure washer and rugs that may have been landfill bound can look as good as new.

Indoor rugs can also be rejuvenated using a pressure washer, although this suggestion is just for inexpensive mass-produced rugs, not hand knotted Persian masterpieces.

Tip: Start this project in a sunny spot on a hot day to give your rug the best chance to dry by day’s end.

4. Baseball pants

If you’re a little league parent, you’re already aware of how hard it is to remove those brown stains kids get from sliding into second base. A popular solution — and for good reason — is to use a pressure washer to drive the dirt from the fabric.

Tip: Don’t have easy access to a pressure washer? Use the washing wand at a self-serve car wash.

5. Plastic furniture

Those inexpensive stacking chairs and tables that once were so shiny and clean inevitably devolve into filthy pieces of junk. However, a few minutes with a pressure washer can transform them back to like-new condition.

Tip: This one is so easy and satisfyingly cathartic, you might want to increase your social capital and offer to clean your neighbor’s plastic furniture as well!

6. Wood furniture

That wooden bench or table may look ready for replacement, but a pressure washing session may be all it needs. This YouTube example of a greyed and lichen-encrusted bench is the perfect example of what may seem beyond redemption, but can actually be transformed back to a beautiful and practical piece.

Tip: Wood is a soft and porous material, so begin with the lowest setting and then inspect the wood afterward to determine if it requires a light sanding.

Final thought

Whatever it is that you choose to aim your pressure washer towards, just make sure to take safety precautions and to start with the lowest setting. And that thing you had budgeted to replace? You can put that money back into your pocket while avoiding a contribution to your local landfill — and that’s Clark Smart!

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More stories you might enjoy from Clark.com:

What to know about required minimum distributions

If you’re taking money expert Clark Howard’s advice and diligently saving for retirement, you should know about required minimum distributions and how they could affect you later in life.

In this article, we’ll discuss what required minimum deductions are and what they could mean for you in your retirement years.

What are required minimum distributions?

Required minimum distributions (RMDs) are basically withdrawals that you are forced to take from your retirement accounts once you reach a certain age — typically 70 1/2, or when you retire if you work longer than that. Accounts that are affected by RMDs include:

• 401(k) plans
• Roth 401(k) plans
• 403(b) plans
• 457(b) plans
• Profit-sharing plans
• Individual Retirement Accounts (IRAs)
• Simplified Employee Pension Individual Retirement Accounts (SEP IRAs)
• Savings Incentive Match Plans for Employees (SIMPLE IRAs)

Roth IRAs, on the other hand, are not subject to required withdrawals until after the owner of the account dies.

When do you have to start taking your RMDs?

As mentioned, if you’re alive at age 70 1/2, that’s when you’re required to start taking your required minimum distributions.

However, you don’t have to withdraw the money immediately that day. You can wait to receive your first payment until April 1 of the year following when you turn 70 1/2.

Once you take your first distribution, you must take a distribution by December 31 of that year and every following year.

How do you figure out what your RMD will be?

Basically, the amount you must withdraw from your account each year is determined by a formula that considers how much money is in your account and divides that by the number of years the government thinks you have left to live. You can find those tables here.

Bankrate provides a pretty handy calculator that lets you see what your estimated required minimum distribution is both at present (if you’re already 70 1/2) and in the future.

We ran the numbers on someone who is currently 50 years old and has $300,000 in a retirement account with an average rate of return of 5% per year:

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As you can see, this person would be required to withdraw around $30,000 at 70 1/2. That number increases slightly each year until they are in their early 90s, if they are lucky enough to live that long.

What’s also interesting to note (in the graph on the bottom) is that the value of the retirement account never drops below $300,000, even if this person lives to be 100 years old.

What happens if you have more than one retirement account?

If you have more than one IRA, you must calculate the RMD on each individual account. However, you can withdraw the total of the RMDs from one or more of those accounts. You do not have to take the RMD from each account individually. This applies to multiple 403(b) accounts, as well.

RMDs from other types of retirement accounts like 401(k) and 457(b) plans must be taken from each individual account, however.

How do taxes work with RMDs?

In general you will pay taxes at your income tax rate on the amount of the distributions. However, certain exceptions apply.

What happens if you don’t take your required minimum distributions?

The penalties for not taking your required minimum distributions are stiff, to say the least. According to the IRS:

“If an account owner fails to withdraw a RMD, fails to withdraw the full amount of the RMD, or fails to withdraw the RMD by the applicable deadline, the amount not withdrawn is taxed at 50%.”

So, unless you want to lose half of the money that you were required to withdraw in a particular year, to need to stay on top of your RMDs and make sure to take them by the deadline.

Final thought

It may seem odd that the government forces you to withdraw some of your retirement savings each year, but the bottom line is that you worked hard for that money and were smart about saving it.

Instead of looking at it as a burden, think of it as a way to ensure you’re putting that money to good use to enjoy healthy and happy retirement years for yourself and your family.

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More stories you might enjoy from Clark.com:

Are home warranties worth it?

Maybe you’ve seen or heard one of the many advertisements out there for home warranty companies — they’re pretty hard to miss. Or, perhaps some of your friends have bought home warranties themselves. That may leave you wondering: “Are home warranties worth the money?”

In this article, we’ll discuss:

• What money expert Clark Howard thinks about home warranties
• What home warranties do and don’t cover
• Home warranty horror stories
• The one case where a home warranty might make sense

Why Clark Howard says home warranties are mostly a waste of money

According one survey, home warranties were a $2.3 billion business as of a few years ago.

Clark thinks that’s 2.3 billion dollars too many.

“It sounds so wonderful,” Clark says. “You pay five or six hundred bucks and supposedly you are buying peace of mind for repairs and replacement of appliances and major mechanical in their house. But when something goes wrong, the warranty company is, like, ‘Who are you? You want us to do what?’”

“Trust me on this: Don’t waste your money on a home warranty. Instead, save your money for when something does break in your home.”

Clark says that in reality, if something goes wrong in your home the warranty companies are brutally difficult to deal with. They require you to use their contractor only. That contractor may or may not come on schedule while you’re suffering in the summer heat with a broken AC unit. And don’t forget that you’ll have a deductible to pay on top of that.

Clark’s word not enough for you?

Consider this: According to the Washington Post, American Home Shield (the country’s largest home warranty company) has been the subject of nearly 11,000 complaints to the Better Business Bureau in the last three years alone.

What home warranties do and don’t cover

In addition to being notoriously hard to work to work with, home warranty companies don’t always make it clear in their advertising what isn’t covered by your warranty.

While most home warranties will generally cover the appliances in your home, the systems in your home (your HVAC unit, for example) or both, there can be some notable exceptions.

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These can include things like:

• Fireplace systems (even if they are your main source of heating)
• Alarm system wiring
• Telephone wiring
• Plumbing lines that are damaged by roots or foreign objects
• Broken or collapsed sewer lines outside your home’s foundation

Here are 11 more things that may not be covered by your home warranty.

Home warranty horror stories

Still not convinced that home warranties are a bad idea?

Team Clark and our Consumer Action Center hear all the time from people who feel like they’ve been taken for a ride by their home warranty company.

For example, Bill C.B. wrote on our Facebook page:

“My toilet has a leak at the base of toilet (I think the wax ring needs to be replaced). And it rocks back and forth when sitting on it. Called for service, technician came out and [they] denied the repair because you can not see the leak on top of the vinyl floor (it is slowly seeping in between the concrete slab and the vinyl flooring). But [they] took my $100 fee.”

And Deborah F.H. said:

“I got one of these with the purchase of a new condo. The bathroom faucet that started leaking 30 days after we moved in? Not covered. The hot water heater that failed? Replaced with a far inferior one! And still cost $600 for ‘whatnots.’ [The company] called me about renewing & I just started laughing.”

The one case where buying a home warranty might make sense

Despite everything you’ve just read, Clark does have one exception to his rule against buying home warranties.

“When you’re selling a home, offer the buyers a used home warranty, even though I think they’re worthless,” he says.

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He points to this Los Angeles Times article, which references a study that says that homes that come with a warranty sell 11 days quicker and for $2,300 more, on average, than those without them.

“If that makes me a hypocrite, so be it,” Clark says. “These warranties are a joke — they seldom pay off — but they’ll pay off for you as a seller.”

Final thought

Although a home warranty may be tempting you with the notion that you’ll have peace of mind in case anything big or expensive in your house breaks, hopefully at this point you know that they’re a bad idea.

Instead, put away some money in a home fix-it fund of your own. You’ll be prepared to take care of any emergency yourself — and not at the mercy of a company who just wants to keep more of your dollars in their pocket.

More stories you might enjoy from Clark.com:

7 best apps to save money on groceries

Looking for the best apps to save money on groceries? Technology can be a big help when you want to stretch your grocery dollar and get the most food for the least amount of money each week! In this article, we’ll take a look at some of the best options.

What are the best apps to save money on groceries?

There’s no shortage of apps that can help you save money on groceries. And all of them do so in a variety of ways. These typically include:

• Offering coupons and other savings at the point of sale
• Letting you scan and upload your receipt after purchase for additional cash back rewards
• Grocery list planning before you hit the store to help you avoid impulse purchases

While it’s probably best to use a few grocery-saving apps in concert, you need to get a lay of the land first to know what’s available. Here are some of our favorite grocery rebate apps, listed in alphabetical order:

Checkout 51

Need to know:

• Cash back available at $20
• New deals updated every Thursday morning

Checkout 51 makes it easy to shop as you normally would and save money while doing it. Just download the free app, select your grocery store and see what the offers are that week. Anytime you buy something that’s being spotlighted, you’ll get cash back.

The app has a built-in camera to take perfect shots of your receipt so you can start building up your savings. You can cash out when you have a minimum of $20 in your account. Payment methods include PayPal or receiving a check in the mail.

With Checkout 51, the nice thing is the items you can get cash back on aren’t limited to prepackaged goods from name-brand companies.

Coupons.com

Need to know:

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• Offers free paperless grocery coupons at point of sale
• No minimum required to get cash back

Coupons.com has a mobile app that promises you can save hundreds of dollars with free paperless grocery coupons.

Using it is easy. Simply link your store loyalty cards to the app to add coupons for your store. Then you can save instantly at checkout.

Or if your store doesn’t have a loyalty program, you can submit your receipt after you shop to get your cash back. It’s as easy as snapping a pic and submitting it!

Best of all, you can get cash back each time you shop; there’s no required minimum before you can cash out!

Fetch Rewards

Need to know:

• Cash out at 3,000 points for gift cards from major retailers
• Available gift card options include Amazon, Target, Walmart and more

Fetch Rewards lets you scan your receipt from any grocery store and receive points for the brands and products you buy already.

“The ‘Special Offers’ tab lists the most valuable deals, but I usually earn a minimum of 25 points per receipt without those offers,” Clark.com writer Michael Timmermann reports.

When you reach 3,000 points, you can redeem them for gift cards to dozens of major retailers like Amazon, Target, Walmart, Home Depot, Petco and many more.

Ibotta

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Need to know:

• Submit pictures of your grocery receipt for cash back
• Unique in that it allows you to get cash back for shopping at Aldi

Ibotta is pretty much the big dog when it comes to apps to save money on groceries.

There are two ways to use it: Either earn cash from adding offers, shopping and uploading a photo of your receipt. Or you can link your loyalty account, add offers at participating retailers and earn without having to upload a pic of your receipt. Here’s a list of supported retailers here.

You can withdraw cash from your account when you reach $20. If you upload pics of your receipt, you can get your cash within 24 hours.

Like a lot of the apps on this list, Ibotta mostly features products from national brands. But even if you shop at Aldi — which primarily sells off-brand groceries — you can take advantage of “Any Item” rebates for about 25 cents per receipt you upload.

RELATED: Need extra money? How to turn grocery receipts into cash with Ibotta

Rakuten

Need to know:

• Cash back available at $5
• Payments are sent quarterly

You may not think of Rakuten (formerly eBates) as an app to save money on groceries; it’s better known as an online shopping cash back site.

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However, Rakuten has a new focus on in-store offers and the grocery stores on this app include Safeway, Sam’s Club and Walmart.

You must have a minimum of $5 in your account to cash out and payments are only sent quarterly via PayPal or physical check.

Saving Star

Need to know:

• Cash back available at $20
• Get cash or gift cards to Starbucks, Apple, AMC Theaters
• Charges $3.99 monthly inactivity fee

Like the other apps on this list, Saving Star lets you either link up your loyalty account and add offers or upload a photo of your receipt to earn your cash back.

You can withdraw cash when you reach $20 via check or PayPal. Or you can elect to get gift card codes sent to you for popular retailers like Starbucks, Apple and AMC Theaters.

However, one warning about using Saving Star: The app will hit you with a $3.99 monthly fee if there’s no activity on your account for 180 consecutive days. The fee is assessed against cash back that has built up in your account, rather than charged to a credit card, but it’s something to keep in mind.

Target

Need to know:

• Offers app-only coupons and REDcard exclusives
• Lets you scan barcodes to add offers as you shop
• Gives you access to Cartwheel offers

Unlike the other apps on this list which let you shop most anywhere you want, the Target app is tied specifically to the Red Retailer.

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With this app you can browse Cartwheel offers and get app-only coupons without the clipping. It also integrates with the REDcard to give you 5% savings on everything you buy at Target — not just groceries.

Final thought 

While there are a variety of apps you can use to save money on groceries, there are one of two ways most of them work: They either track your store loyalty card and offer point-of-sale savings by specific retailer. Or else they require you to add offers and then upload a pic of your receipt.

The nice thing about these apps is that they’re very low-hanging fruit if you’re looking to put more money in your wallet. Anyone can download an app and upload a picture of their receipt. It usually takes just a few seconds. So it’s easy to enjoy the fruits of your labor with very little labor.

Meanwhile, if you’re looking for more ways to lower your grocery bill, be sure to check out our 22 ways to save money on groceries!

More supermarket savings on Clark.com

5 ways to save money when you’re grilling out

Hosting a backyard barbeque is a traditional way to celebrate the Fourth of July, Labor Day or any weekend when the weather is nice. But grilling out can get expensive, so we have a few ideas to make sure your gathering doesn’t blow a hole in your wallet.

5 ways to save money on your next cookout

The key to making sure your outdoor entertaining stays within your budget really comes in the planning. If you’re scrambling at the last minute to make sure your crowd is fed, you will probably be paying too much.

Here are the areas where there are real opportunities to cut costs:

1. Use your fuel efficiently

Whether you cook on a gas grill, charcoal, electric, smoker or some combination of those is a very personal preference. They all work, as long as you know how to use them.

Charcoal grills are less expensive to buy, but the fuel required to keep them cooking is more expensive than gas.

You also want to make sure — no matter what type of grill you’re using — that your timing is right. If you fire up the grill two hours before the food goes on, you’re just burning money.

Need to buy a new grill? Start by learning more about the best time and place to buy one!

2. Pick the right meat

It’s fortunate for us grillers that some of the best meat for cooking over an open flame or smoking also tends to be less expensive by the pound than cuts that have better name recognition.

If you’re cooking steak look for flank or skirt cut, which are perfect for the grill. Set up a fajita bar!

When it comes to chicken, legs and thighs are hard to beat. They have the fat content to stand up to an open flame, where breasts do not.

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If you have a smoker, look for any large cut like a pork butt, beef brisket or turkey legs and you can easily feed a big crowd on a shoestring budget.

For a vegetarian option, it’s tough to top eggplant. The versatile fruit grills up very nicely.

3. Don’t overspend on hot dogs

Hot dogs are a staple of most cookouts. If there are kids involved, they are a must-have.

While pretty much everyone can agree that Nathan’s makes great hot dogs, a recent taste test from the Washington Post says that money expert Clark Howard’s favorite store Costco sells the most flavorful frank.

Some notes from the judges:

• They epitomize “classic dog taste.”
• “I could eat three of these at a ballgame.”
• They “taste like childhood.”
• They “taste like summer.”

4. Make your own sauces…

No, you don’t have to make your own ketchup and mustard from scratch. But you can certainly whip up your own barbeque sauce out of ingredients you probably already have. The same goes for salad dressing.

5. …and sides

While you’re showing off your prowess at the grill, keep in mind that your guests’ tummies still need to be filled. A great way to cut costs is to make sure you have side dishes that people will enjoy.

Pound for pound, potatoes are way less expensive than any cut of meat you can buy and who doesn’t love a good potato salad?

More Clark.com stories you may like: 

Should you refinance your mortgage now?

Mortgage refinancing rates in recent weeks have been dropping at a pace we haven’t seen in quite a long time.

As of this writing, the current average 30-year fixed mortgage refinance rate is down to 3.70%, according to Zillow. That’s down more than a full percentage point from the nearly 5% rates we were seeing in late 2018:

Clark Howard’s simple rule for when to refinance your mortgage

So, if the interest rate you’re paying on your mortgage is significantly higher than the rates you’re seeing now, should you refinance?

Money expert Clark Howard says yes.

“One week recently, refi applications were 60% higher than the previous week,” Clark says. “That’s no accident. A lot of people are recognizing that they can save a lot of money in the long term by refinancing now.”

So how do you know when you should refinance?

Here’s what Clark says:

“If you can make back the cost of the refinance in 30 months or less, you should do it. It just makes financial sense. That’s the trigger.”

When you figure out what you’re going to have to pay to do the refi (there are almost always costs involved) versus what you’d be saving on interest per month, you can figure out the break-even point.

“So, you should be sure you’re going to be staying in the house for at least 30 months,” Clark says, “but most people end up staying in a house longer than they think they’re going to.”

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While the 30 month rule is Clark’s general gauge, there are calculators available that will show you exactly what your break even point will be and how much money you can save over the life of your loan:

As you punch your particular numbers into the calculator, you might see what your monthly payment would be if you refinanced into a 15 year mortgage. Rates for those are even lower (currently averaging 3.18%, according to Bankrate), so if you can afford what is likely to be an increase in your monthly payment, you pay of your loan quicker and potentially save even more money over the long haul!

“The huge advantage with a refi is going into a 15 year loan,” Clark says. “If you’ve been in your loan for a while, going into a 15 is the grand slam.”

More stories you might enjoy from Clark.com:

New warning: How scammers are robbing people through the Zelle app

Zelle, the popular payment app backed by the big banks, has become such a security risk that only people with money to lose should use it.

That’s the advice from money expert Clark Howard, who is on record as warning consumers to stay away from Zelle due to previous infractions.

A good reason not to use Zelle: Banks offer no consumer protection

Hackers have figured out that Zelle and similar apps are low-hanging fruit when it comes to stealing people’s hard-earned money, Clark says.

Here’s their latest strategy: You think you’re buying something online on a marketplace site like Facebook or Craigslist and the seller tells you to pay using Zelle.

Once you do that, the seller (scammer) simply takes your money, shuts down their bank account and never sends the product, according to TechCrunch.

The kicker in all this is that Zelle users have virtually zero recourse for getting their money back.

The banks behind Zelle — JP Morgan Chase, Bank of America, Wells Fargo and more — have been largely silent on problems with Zelle fraud protection.

Clark says the fact that Zelle being fully integrated into the banking system is what makes it different from the other payment apps from a security perspective, as well as fraud protection.

Many banks have built Zelle into their apps. Here’s the Wells Fargo app. You can see there’s a “Send Money with Zelle” button dead-center:

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Because real bank accounts are involved — and you figure that the big banks are backing and securing the transaction  — many people feel a false sense of security when using Zelle.

The banks’ position has been that if you agree to send money to someone, there’s no turning back. Here’s what it says in Zelle’s fine print:

So, unlike with a credit card, there’s no mechanism for reversing or disputing a payment once you’ve made one using Zelle.

Final thought

If you take nothing else away from this, let be that Clark absolutely doesn’t want you to set up Zelle if your bank offers it.

However, other payment apps can be useful when it comes to transferring money to family, friends and trusted merchants. Here is the #1 thing you need to do if you use payment apps.

Here are more Clark.com articles you might enjoy

Market Force review: How I earned $42 as a restaurant mystery shopper

What if you could make extra money every week eating in restaurants you’ve always wanted to try anyway? That opportunity exists with MarketForce.com.

I signed up with Market Force as a mystery shopper after another member of Team Clark told me about other ways to get paid by testing food.

How to make extra money as a mystery shopper for MarketForce.com

I was skeptical at first, but then I saw how this could be a good way to do three things I’ve always wanted to do:

• Become a mystery shopper
• Try some new restaurants
• Eat for free!

What is Market Force?

Market Force helps food companies, restaurants and even wireless service providers with quality control and customer service assessments.

Those companies rely on mystery shoppers to objectively tell them how their businesses are doing, whether employees are applying their training and if their food is being prepared as it should be.

When you go to mystery shop for Market Force, you will be reimbursed for the “shopping” as well as for expenses like parking or tolls.

Full disclosure: Most of these places are fast-food restaurants, with the occasional full-service eatery thrown in. Since I’ve been doing it, I’ve eaten at places like 5 Guys Burgers, Hooters, Church’s Chicken and shopped at T-Mobile wireless stores and the like.

How to get paid to eat at restaurants as a mystery shopper

The key to getting paid is that you must keep meticulous records of your experience. Your mystery shopping experience will typically revolve around doing one of three things:

• Confirming business hours
• Trying the product or service
• Taking a photo of the establishment

Let’s talk a little about each one of the above activities so you’ll know what may be involved if you choose to become a mystery shopper:

Confirm business hours

Different “shops” have certain activities that you must accomplish or fulfill. If you accept a shop that wants you to confirm the business hours of operation, many times you can do that over the phone (usually, you’ll get paid $3 to make a phone call).

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Try the product (eat)

Other shops involve going into the business or restaurant and dining inside to try the food. That’s where the real money is.

With Market Force, you’ll typically get paid around $12 for a basic meal, but it could go up depending on what food items they want you to try.

Take a photo

Other times, your mystery shop may require that you take a photo of a restroom or some important signage that’s supposed to be prominently displayed.

In other instances you may have to do something as simple as ask a server where the restroom is.

How to sign up for Market Force

To join, go to MarketForce.com and click on the orange “Login” button under “Mystery Shoppers.”

When you sign up for MarketForce.com, you do give up a bit of personal data, including your information that allows you to be paid.

Once you’re approved, you can find shops on the site via a map. All you need to do is put in your ZIP code or one where you want to mystery shop.

Scrolling through the restaurants and other businesses on the left-side rail, you can select shops to accomplish at the times listed. Usually, there are several days and hours that you can choose from.

Mystery shopping: How not to get disqualified

Once you approve a shop and you are sent the specific details (either as a PDF or Word doc), make sure you follow it accordingly.

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One of the easy ways that your shop can be disqualified is if you go to a particular restaurant at the wrong time of day.

If it’s a lunchtime shop — usually between 11:15 a.m. and 3:15 p.m. — and you arrive there at 4:30 p.m. you’ll basically be wasting your time and money. Market Force won’t reimburse you, even though you may have followed all of the other instructions.

Another thing that makes your shop null and void is if you fail to report the shop in a timely matter.

Market Force asks that you upload the receipt and fill out the report no longer than eight hours after you’ve left the establishment. If you exceed that time limit, again, that meal is on you.

How much money can you make as a mystery shopper?

While Market Force pays you every time you do a mystery shop, don’t think this is a full-time job. The money you’ll make can best be described as extra income.

Still, you can make quite a bit of spending money with Market Force, if you have the time. If you have a full-time job, it may be difficult finding shops that are available after office hours.

One other great thing that will determine how much money you make with Market Force is that you don’t have to accept the price they give you to shop. That’s right, you can negotiate.

Once you select a business, if you think you deserve more money for the shop, click the green “Make An Offer” button and input your desired price. If Market Force agrees, it will be accepted.

From the above example, it will cost you $15 to eat and try the entree choice that this restaurant wants your feedback on. They are offering to pay you $5 to eat there. So you’ll be reimbursed for the $15 + $5 for the shop, meaning you’ll get $20 total for this one shop.

How often do you get paid with Market Force?

As with some other mystery shopping sites, Market Force pays monthly (the 15th of every month). That means if you do all your shops in the first few days of the month, you won’t see that check until the middle of the following month (about 45 days later).

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That’s why it’s best to sprinkle in some shops throughout a 30-day period. You can get your money back quicker if you shop on the back end of the month.

Final thoughts on mystery shopping for Market Force

Market Force is a great way to passively supplement your income by doing something you’d likely do anyway. After all, we all have to eat!

The last time I used Market Force, I only “shopped” at two restaurants in the month, spending about $15 each time, and was paid $42.82. That’s not bad.

Here’s a screenshot of my haul.

As you can see, it’s no to difficult to earn a little extra money and have some fun (and maybe even a meal) at the same time!

Beware of making this $300,000 mistake with your 401(k)

There’s a hidden time bomb ticking in your 401(k) that could leave you with $300,000 less to spend in retirement than you would otherwise have, according to a new study from Deloitte Consulting LLP.

RELATED: Why you shouldn’t cash out your 401(k) when changing jobs

This hidden leak in your 401(k) could cost you $300,000

When people borrow money from their 401(k)s at work, they often do so with the best of intentions.

They really mean to get around to “paying themselves back” — a rationale that is more fallacy than truth, as we’ll show you in a moment — but sometimes life gets in the way.

There are a couple problems here right off the bat…

In the first place, the fact that you need a 401(k) loan may signal you’re in a financial death spiral, as hard as that can be to admit.

If this is the case, borrowing money as a quick fix — instead of getting on a tight budget as a way to implement a long-term fix — is nothing more than rearranging the deck chairs on the Titanic as it goes down.

Another potential problem with taking out a 401(k) loan is what happens if you suddenly and unexpectedly lose your job.

If that happens, you typically have 60 days to repay the loan in full — otherwise the money is treated as income and taxed accordingly.

And then there are the other ever-present dangers when you have a 401(k) loan, namely defaults and cashouts.

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Check out this hypothetical example

Say you’re a 42-year-old with a 401(k) balance of around $77,000. Now, let’s say something happens in life and you need to borrow $7,000.

Sure, it’s less than a tenth of your balance — but it can have an outsize impact on your future, as we’ll see in a moment.

Now consider this: We’ve already established that you may be teetering on the precipice of financial chaos if you need to take a 401(k) loan. So what happens if Murphy’s Law prevails and everything goes wrong in your financial life, culminating in you defaulting on that $7,000 loan?

Well, Deloitte has a grim picture of the future in the scenario they’ve run.

Let’s say that initial default is followed up by you saying the heck with it and just cashing out the entire remaining $70,000 of your 401(k) to deal with taxes, early withdrawal penalties and to help clean up whatever financial mess you’re in.

This is more common than you’d think. Deloitte says that about two-third of folks who default will just go ahead and liquidate their account entirely.

That’s expected to account for $48 billion of lost wealth that’s being self-plundered from retirement accounts in 2018 alone, according to Deloitte.

But, wait, there’s more!

What started as a $7,000 loan that you defaulted on quickly ballooned to a $77,000 cashout in our example. But here’s where it gets really bad.

Deloitte crunched the numbers and found it all adds up to a scenario where you’re likely to have $300,000 less in retirement.

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That’s because you miss out on $217,000 of potential investment return when your money isn’t there to grow for you!

More money stories on Clark.com

Clark Howard: Why you need to give online banks another look

Thinking about switching your bank?

You’re probably familiar with credit unions as a superior alternative to traditional big banks, but you’d be wise to give online-only banks some consideration, too.

That’s because the online banks now offer some of the highest rates across a variety of banking products.

RELATED: Lots of banks are offering free cash: Should you bite?

Internet banks give you the best bang for your buck

How many times have you gone to your local bank branch or credit union in the past year? If you’re like most people, the answer is “not many.”

The advent of Internet banking on your smartphone has reduced the need for physical branches. If you’re fully comfortable with digital banking, there are a few compelling reasons why money expert Clark Howard says you should look at moving your money to an online bank.

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“Recently, I’ve had to rethink banking. It used to be a two-horse race between banks and credit unions,” Clark says. “But now online banks are the new low-cost place to bank.”

Clark notes the competition is really heating up in the online banking sector.

Ally and CIT deserve your attention

Ally Bank will give you a 1% bonus on any money you move over to their online banking services as part of its newly announced PayBack Promotion. You can earn up to $1,000 on a deposit of $100,000!

And if you’re somebody who likes to chase the highest interest rates, we’ve saved one of the best deals for last.

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CIT Bank is offering 2.30% APY on its Savings Builder account. To qualify for that rate, you need to either have an account balance of $25,000 or more OR make at least one deposit of $100 or more faithfully each month that you don’t have $25K on deposit.

If you fail to make that monthly deposit, the interest rate drops down to 1.26% APY for the following month. But if you make a deposit of $100 or more before the next month is over, you’ll get back up to the higher rate.

“Online banks are where all the action is right now in banking,” Clark says. “But it’s not just savings accounts; it’s about great deals on checking, CDs and so much more, too.”

Credit card startup Petal aims to help first-time borrowers build credit — is it for you?

Young adults and the credit industry aren’t exactly peas in a pod, normally. Unestablished credit scans make it difficult for people just striking out on their own to borrow money for the things they need. But that could be changing. A new no-fee credit card called Petal opened to the public this week.

Petal is a startup credit card company based in New York. With the motto, “A credit card with a conscience,” the company’s bold move is that its credit card is designed for people without credit scores. A recent $34 million cash infusion from investors has propelled Petal from a thousands-member trial stage to widespread accessibility for the general public.

Credit card startup Petal aims to help the credit-less

Petal’s staff includes a swath of financial minds with tech know-how from companies like Google, Amazon, WeWork, Square and more. Instead of using borrowers’ personal information to create risk profiles, Petal wants to build your credit based on how you handle your money.

“We use more data than credit history to make credit decisions,” Jason Gross, co-founder and chief exective of Petal, told TechCrunch . “They’re common sense metrics about your finances: How much you make, save and spend every month.”

Petal is certain to appeal to millennials (and likely those who haven’t been in the country for a long time) who want to build a credit history and score. A major benefit is the fact that Petal has no fees — annual, overdraft or otherwise — so you can keep the money you make.

Here’s how Petal works

Petal compiles data from bank information and the payments you make to come up with a credit score for people whose credit is immature. On its website, Petal says “You don’t need credit history to earn our trust. If you have a credit history — that’s great, but even if you don’t, we can use the money you make and the bills you already pay to help you qualify.”

Customers can use Petal’s mobile app to track their spending and take advantage of other money management tools. In a blog post, Petal says , “We show you all of your accounts in one place, send you timely payment reminders to stay on track, and let you automate payments so you never miss a beat. And before you carry a balance past your due date and pay interest, Petal tells you in actual dollars — not just percentage rates — how much it’s going to cost. You won’t find many other credit cards doing that.”

Credit limits for a Petal credit card start at $500 but can stretch to $10,000, which is pretty much unheard-of for first-time borrowers. Variable APRs range and are a little high but within the credit industry standards.

As with any credit card, you’ll need to be responsible whether your credit report is green or not. Here are some tips on how to keep your credit card in the black:

YNAB review: Is this budgeting app better than Mint?

SUCCESS STORY: After six months of using YNAB, a Clark.com reader wrote in to tell us that she is “no longer stressing over how to make it through the month.” She has an emergency savings for the first time and is working to get out of debt. The reader says she has used Mint and another program without success, but “neither program worked like YNAB.” Congrats and keep up the great work!

You Need a Budget, also known as YNAB, is a popular budgeting program that brings the envelope method into the digital age.

YNAB is based on four rules that have helped many subscribers stop living paycheck to paycheck and spend less money than they earn every single month.

In fact, YNAB claims that new budgeters save an average of more than $6,000 in their first year with the program.

YNAB review: Everything you need to know about the budgeting app 

I’ve been using free budgeting tools from Mint and Personal Capital for years, but I was reluctant to test YNAB because it costs $83.99 a year ($6.99 a month) after a 34-day free trial. There’s also an $11.99 monthly option.

I finally decided to try it out after this type of feedback from members of Clark’s Ditch Your Debt group on Facebook:

Tiffanie: We’ve used it for over 2 years, and LOVE it! Easy to enter transactions (especially on the fly); easy to import and approve transactions; always handy on my phone, which means I check it and update it frequently (important part of budgeting!); self-updates with great features; accessible on phone and online (work, home, etc); great tools to help you set & reach goals. Completely worth the monthly fee!! By using this, we save WAY more than the fee.

Don’t think you would ever pay for YNAB? I felt the same way, but stick with me. Even if you don’t plan to continue as a paying member, I believe the free trial may be worth your time.

If I had to choose just one word to describe my last month of budgeting with YNAB, “eye-opening” would be it.

This article details my personal experience with YNAB and how it compares to Mint, but I want to get started with a brief explanation of why this budgeting app isn’t like the others…

The 4 rules of YNAB

YNAB says it will help you budget like you’ve never done before, and that was true for me. YNAB’s method is based on four rules that can help you set up a budget, take control of your money and reach your financial goals.

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1. Give every dollar a job: When you receive a paycheck, assign it to your expense categories before you spend it.
2. Embrace your true expenses: Set money aside every month for non-monthly expenses (property taxes, insurance premiums, holiday gifts, etc.) so that you’re ready when the bills come in.
3. Roll with the punches: Things can and will go wrong! Move money around to cover categories where you overspend.
4. Age your money: Stuck living paycheck to paycheck? By consistently spending less than you earn, you’ll work toward using last month’s pay on this month’s expenses.

Budgeting with YNAB for 30 days

YNAB’s rules were a little confusing to me at first, but it all started to make sense once I started my free trial.

Before I share more about my 30 days of budgeting with YNAB, I want to point out that the trial doesn’t require you to enter a credit card and there’s a 100% money-back guarantee for paid customers.

Problem syncing accounts 

Once I signed up on YNAB’s website, I immediately started following the prompts to connect my bank accounts to YNAB.

Like Mint and Personal Capital, YNAB links to your accounts to automatically import transactions. The service also has the option of adding unlinked accounts by starting with your current balance and manually entering transactions.

I ended up doing it the manual way because YNAB had trouble establishing an initial connection with several of my accounts.

People who are sensitive about sharing bank usernames and passwords may actually prefer the unlinked option. YNAB has a section of its website where you can read more about its security features.

Setting up my budget 

Moving on, I determined the amount of money to be budgeted for the month and started to give every dollar a job.

Here’s an example: If you have $2,000 to be budgeted, you have to assign all 2,000 of those dollars to your customizable categories, which are broken up into the following groups by default:

• Immediate obligations
• True expenses
• Debt payments
• Quality of life goals
• Just for fun

This is a useful exercise because it requires you to prioritize your spending. If you have $2,000 to be budgeted and a $1,000 rent payment due in a few days, that leaves $1,000 to get you by until your next paycheck.

As you assign money to those categories, YNAB will encourage you to create short-term and long-term goals.

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The simple color-coding with YNAB can also keep you on track. Green means you have dollars available, orange indicates that a category is underfunded and red is a sign that you’ve overspent.

Sticking to the plan 

The real fun began when I started spending money! Like I said, I had to manually enter transactions because of the synchronization issue, but it ended up being a lot less tedious than I expected.

I got into the habit of checking my category balance before buying anything and recording the transaction immediately after.

YNAB’s mobile app for Apple and Android devices is easier for me to navigate than the desktop version. In addition to categorizing new transactions in about five seconds, you can move money around as your priorities shift.

Here’s an example: During my free trial month, I got a surprise $700 home repair bill. That wasn’t in my home maintenance budget. As a result, I had to move money from several other categories to fund it — the third rule of YNAB.

The method empowered me to prioritize the repair over things like eating out, clothing, gifts and my vacation fund.

How much I saved 

I’m an analytical person to begin with, but checking with my budget and the dollar amount left in a particular category before making a purchase really helped me spend less over the last month.

Even with that $700 home repair bill, I was able to set aside money for my true expenses (non-monthly bills) and had $200 left.

Warning: There’s a learning curve!

If you’ve been budgeting with Mint or another tool, YNAB is going to require some effort to master — but it’s worth it!

Shortly after I signed up, YNAB sent me an email with an invitation to talk one-on-one with a coach for 15 minutes to answer some of my questions. That was a huge help!

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In fact, that coach was even able to get someone to troubleshoot the account synchronization issues I had.

There are also 20-minute workshops every day where coaches answer your questions. I’ve shared a recorded workshop below because I think it’s one of the better ones:

There are other resources to help you budget successfully. YNAB has additional instructional videos, podcasts, forums, chat and help documents on its website. I’ve also seen YNAB respond to questions via Facebook and Twitter.

Even without phone support, I felt like I had all of the tools I needed to get the most out of the free trial.

YNAB: Summary of the pros and cons

Pros Cons  Customer service and tools Learning curve Easy-to-use mobile app Syncing accounts No advertising Price: $83.99 billed annually

YNAB vs. Mint: Which budgeting app is best? 

Money expert Clark Howard is a fan of Mint.com and says it’s great for automatically tracking your expenses. I’ve used Mint since 2010 and like how it has evolved to include bill reminders, credit score updates and net worth tracking.

However, I would have to say that YNAB does a better job with the budgeting component — that’s really all it does!

The more I used YNAB, the more I realized how it truly helps me manage my finances and proactively make smart decisions about what I spend money on and what I choose not to.

Mint, on the other hand, now seems like more of a report card after the money has already been spent.

The big advantage of Mint is that the service is free, but you do have to put up with credit card ads. There’s none of that with YNAB. You avoid the ads because it’s a paid service.

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Is YNAB worth $83.99 a year? If it helps you get out of credit card debt or reach other financial goals, the answer is probably “yes.”

Here’s my suggestion: Take YNAB up on its 34-day free trial and spend some time to learn the method. Even if you don’t become a paying member, you may be able to apply the four rules on your own using a free budgeting tool.

Has YNAB helped you save more and spend less? Leave your review in the comments below!

More Clark.com stories you may like: 

How to make money as a pet sitter

If you’re a dog or cat person, there’s no reason why you shouldn’t be able to monetize your affection for animals. There are a lot of people out there right now actually making money as pet sitters!

Believe it or not, there’s been quite a bit of market research around the pet-sitting industry. More than 80 million households in the United States have pets, according to a study by Acosta, a sales and marketing firm. That means that the market is there for you animal lovers to turn your hobby into a full-scale business.

Thinking of working from home? Here’s how to make money pet sitting

Obviously, you must love pets, but more than that, you’ve got to see them as your potential clients do: as family members. A pet sitter’s responsibility isn’t just to watch Fido; they’re expected to provide and maintain a healthy, safe environment at all times. That goes for what the animal eats, where they play and where they go you-know-what.

How much money do pet sitters make?

Is pet sitting for you? The going rate for a pet sitter depends on a lot of factors. Glassdoor.com  has pet sitting pay as low as $7 an hour and up to $2,000 a month. Obviously what you take home will be based on the amount of time you put into it. One question you’ll have to decide is whether you want to get paid hourly, by the day or even a weekly rate.

It’s a good idea to focus on the scope of your work as well. Are you going to run what is essentially a dog-walking service or will you offer full pet-concierge amenities? Logically, the more you can offer, the more you can charge.

In addition to liking animals, you’re going to have to be a people person— someone who can win a family’s trust in a short period of time. A confident smile, capable resume and solid references will go a long way.

It may make sense to test the waters first by signing up to work with an online service. That way, you can get a feel for the rigors of “industrial” pet-sitting as well as learn some market trends first-hand.

Here are some online pet-sitting resources

The top 10 things Clark Howard does to save money

His name is synonymous with being cheap. But do you really know all the ways Clark Howard stretches a buck in his everyday life?

Here are 10 things you can start doing right now that will have your wallet thanking you…

RELATED: Clark’s Cash Challenge: 5 steps to save more money in 30 days

Shop the dollar stores

When everything is $1, how can you go wrong? Clark has been a fan of dollar stores for a long time.

That means buying everything from toiletries to greeting cards to $1 steaks at true dollar stores like Dollar Tree and 99 Cents Only stores.

“My poor wife has not gotten a card from me that was more than a dollar in all the time I think we’ve been together,” Clark admits.

See a list of Clark’s favorite dollar store buys here.

Be willing to accept lower quality for a lower price

Clark’s longtime mantra is that he’s always willing to accept lower quality for a lower price. Hence his deep appreciation for dollar stores!

Just about the only instance where he won’t accept lower quality for a lower price is with both home insurance and auto insurance.

“While [a cheaper] premium might be tempting, you want to be sure your insurer is there for you when the chips are down,” the money expert says.

Look for the 97s at Costco Wholesale

Another one of Clark’s favorite stores is the warehouse club Costco. When he’s walking the concrete floors, he looks for anything that ends in 97 cents — as in $3.97 or $199.97.

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The 97 is like a secret code at Costco. Whenever you see a price that ends in 97 cents, it means the item is being sold below cost. Now that’s a real deal!

See a list of secret codes at other retailers here.

Extend the manufacturer’s original warranty on electronics for free

Clark never pays for extended warranties. Instead, he gets the same protection they offer and more for free!

How does he do it?

Many credit card issuers will double the manufacturer’s original warranty up to one additional year if you use their card to make your purchase. Check with your card issuer to see if this is among the benefits your card or cards have.

Beware of fast food ‘deals’ that actually cost you more money

Here’s a funny story: Not too long ago, Clark was at the regional hamburger chain Krystal which was running a ‘5 for $5′ menu special. But if a menu item is regularly less than a buck, bundling it into this deal is actually no deal at all.

Such was the case with the mini Krystal burger that normally sold for 79 cents. So Clark just asked the cashier to ring his five burgers up at the standard price of 79 cents each, not the ”˜deal price’ of five for $5.

He wound up paying only $3.95 plus tax, not the $5.40 he normally would have paid if he was rung up with the ‘5 for $5’ pricing.

Shop thrift stores for men’s clothes

Clark loves snatching up the savings of 75% to 90% at thrift stores, particularly on men’s formal clothing.

“I’m fond of picking up dress clothes at secondhand shops and have bought a few pieces of used formal men’s wear for between $1 and $7 a piece. They’re usually in great shape because few men dress up for work anymore,” the money expert says.

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Buy the deal first, then figure out why you want to go there

Clark’s #1 rule of cheap travel is something a lot of people aren’t willing to do. But for him, it’s a no-brainer.

“It’s really pretty simple: I don’t pick a destination that I have to go to. I wait for a deal somewhere, buy the deal and then figure out why I want to go there,” he says.

“By following that simple rule, I’ve been able to visit every continent except Antarctica and every state except North Dakota. And I’ve done it all on a dime.”

If you want to be like Clark, you can use Kayak Explore. You select how much you’re willing to pay, and then available destinations in your price range pop up on a world map.

Re-shop your car rental rate a week before your trip

Clark’s secret for getting the cheapest rental car rates start with booking a vehicle at the time he books air travel. Then one week before the trip, he checks the rates again to see if he can grab a better deal at a lower price.

Car rental fees are completely refundable, so he doesn’t lose anything if he cancels the original booking.

“You can end up cutting the cost of a rental car by half or more by re-shopping it the week of your trip,” Clark says.

Find more of Clark’s advice on saving money and avoiding rental car ripoffs here.

Fly with only a carry-on to avoid bag fees

Rather than paying baggage fees, Clark travels only with what an airline permits free as a single carry-on. With bag fees topping $75 on some airlines under certain circumstances, following this advice can be a huge money-saver.

“Another plus is that I never worry about the airline losing my baggage,” Clark says.

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Find free street parking

The penny-pincher abhors paying for parking. But you follow his lead on this advice at your own risk; his insistence on finding free street parking has backfired on him more than a few times.

“I often park in questionable areas where I can find free parking. My reward for being that cheap? Five smash-and-grabs through the years that have required me to replace the car window each time. I could have paid for a lot of parking at that rate. In fact, I’ve had vehicles broken into in four countries — Holland, Spain, Canada and here at home — because of my insistence on free parking.”

Clark says he once refused to pay $1 for parking in Appleton, Wisconsin, and went looking for free parking instead. Well, he wound up getting a $25 parking ticket when he violated an ordinance that didn’t allow parking from 2 a.m. to 5 a.m. in the whole city of Appleton!

Another time, his parked rental car was crushed by falling debris when he opted for free street parking in Manhattan!

So, feel free to ignore this last tip if you are so inclined…

Here are some more Clark Howard ways to save:

20 ways to save money at Home Depot

When it comes to picking up products to help maintain and improve our houses, The Home Depot is one of America’s favorite places to shop. That means that figuring out how to save money at Home Depot has become a sport in and of itself.

And no wonder, there are more than 2,200 locations around the United States, making the retailer an accessible destination for most shoppers looking to fix up or accessorize their homes.

Here are 20 ways you can save money at Home Depot

Founded as a comprehensive hardware store in 1978 by Bernie Marcus and Arthur Blank, Home Depot today is the largest home improvement store chain in the world.

One of the things that endears the Atlanta, Georgia-based company to its shoppers is their ability to find savings there. In this article, we’re going to show you all the tricks, tips and hacks to save money at Home Depot.

Here are some practical ways to find what you need at Home Depot for less:

1. Special Buy of the Day

The retailer offers an online Special Buy of the Day, which comes with free shipping. You never know what’s on sale until you click, but you can choose from among around 30 items.

2. Get $50 off just for asking

Home Depot employees have been empowered to give up to $50 off on items without a supervisor’s approval, according to Quick Tap Survey. The logic is that employees should be able to do whatever they can to make the sale. We like it!

3. Price match guarantee

Home Depot promises that If you find a lower price on an identical, in-stock item from any retailer, they will match the price — and beat it by 10%.

RELATED: Price-matching policies of your favorite retailers

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4. Email coupons & promo codes

Home Depot sends promo codes via email newsletter and text every so often, so you if you want to save, you’d better jump on them when they come.

Get $5 off your next purchase by signing up for Home Depot’s Promo Text program.

You’ll also get coupons to help you save money sent right to your inbox. Don’t worry, the company says you’ll receive no more than 10 texts to your phone per month.

5. Free 2-day delivery

Home Depot offers free two-day delivery on most items over $45. If you buy from HomeDepot.com, you get free standard delivery on appliance purchases of $396 or more. You can find the expected arrival date of your item in your Shopping Cart under Product Information.

6. Rebates Center

Homedepot.com has a Rebate Center that tells you which products in your area can actually put money back into your pocket.

7. Special Values

The store’s Special Values page spotlights for-sale items by category. So, if you’re looking for a specific thing, click on the department in the left-hand menu and you’ll see what’s available.

8. Veterans Discount

Have you served our country? If so, you’re eligible for a 10% discount at all Home Depot store locations in the USA during national holidays like Veterans Day and Memorial Day. The discount is for in-store only, not online. 

9. Rental Center

A great path to everyday savings for people is Home Depot’s Rental Center, which allows you to rent needed equipment — even trucks and vans — without having to buy. Want to save cash? Rent it, don’t buy!

Money expert Clark Howard’s Facebook community has chimed in on ways they save at Home Depot, as well. Here are some crowd-sourced dollar-saving strategies at the Depot:

10. Buy via gift card

Tambryn: We get a gift card through our credit card and use it to take on big projects. Also, we stop by the seasonal section at the end of season to replace anything that broke or wore out that year or stick up.for next year (like new Christmas lights on January).

11. Credit card offers

Laurie: [Their] credit card has special offers like 6, 9, 12 months same as cash sometimes 24 months. [They] also send 10% coupon discounts with [their] credit card.

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12. Clearance section

Judi: Check out their clearance section. Pay special attention to items that may not have a price tag. I was shopping for a medicine cabinet to use to store my jewelry. I found one in the clearance section without a price that was mirrored on all sides ($200 custom order). It was priced at $.01 (yes – you read that right one cent). After an item is not sold, they keep dropping the price and after it is one cent they destroy it. I KNOW it was not sold previously because no one else waited to get the price.

13. Garden Club

Clark: Join their online garden club and you receive regular $$ off coupons. Check ads for sales. Watch for clearance items throughout the store.

14. Volume Discounts

The store also offers a volume discount, meaning that if you’re buying for a big job, get an associate to add it all up on a price list. The retailer says if your total adds up to at least $1,500, you’ll likely qualify for a volume discount.

15. Free lumber cuts

If you buy lumber from Home Depot, the retailer will do some complimentary cuts for free. This can be invaluable resource if you need some pieces of purchased wood cut quickly.

16. Free DIY workshops

Your local Home Depot also offers free do-it-yourself workshops on everything from kitchen makeovers to how to install a ceiling fan. They even have how-to videos that you can watch to save time and money.

17. ‘Oops’ Paint

Home Depot is one of the cheapest places to buy paint because it features a small section of what is called “Oops” paint. This is typically kept in a nondescript area of the paint department close to where the paint mixing is done.

“Oops” paint is sold for a heavy discount because the store was not able to sell it to a customer, either because the color was off or the texture was incorrect. Either way, you’ll need to ask an associate at your local Home Depot to confirm what’s available there.

18. Home Depot’s Weekly Ad

The store also puts coupons in its Weekly Ad, where you can find tons of discounts. You can find these circulars in stores, in your mailbox or on the store’s website. Speaking of which….

19. Website coupons

HomeDepot.com has a Coupons page that has some of its latest deals for internet-savvy shoppers. You can find an array of savings if you scroll down.

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20. ClarkDeals.com

If you don’t want to subscribe to the store’s newsletter, our sister site ClarkDeals.com keeps up with the latest promo codes here!

Know of any more ways to save at Home Depot? Let us know on Clark’s Facebook or Twitter.

More Clark.com stories you may like: 

How to make money with Airbnb

If you’ve ever considered ways to generate some supplemental income, you may have pondered the possibility of listing your home on Airbnb.

The company started in 2007 when its two co-founders advertised a night on an air mattress and breakfast in the morning (“Air Bed & Breakfast”) to attendees of a design conference in San Francisco. Now, the company is worth more than $30 billion.

How to make money on Airbnb: Things to consider before listing

If you’re paying a mortgage for our outright own a single-family home, you should be fine renting it out. If you’re paying for a condo, apartment or town home, there may be some occupancy rules that prohibit such transactions. It’s up to you to do your homework so that you don’t run afoul of the law.

In many cases, local authorities have turned against Airbnb. Some municipalities have banned people from renting out their homes.

Money expert Clark Howard says, “The tremendous success of these platforms is what’s led to these strong reactions and the attempts to shut down your ability to earn some cash or have it be the principal reason why you have a place, and you just gotta know that that could happen to you.”

Also, it’s a good idea to find out what other homes in your area are renting for. This requires not only browsing similar listings on Airbnb but a general knowledge of local real estate prices. You’ll also want to check what effect Airbnbing your home will have on your insurance premium

How much can you make on Airbnb?

There are some property owners that make six figures annually on Airbnb — but they’re typically investors with second and third homes. People who list their primary residences can add thousands of dollars a year to their wallets, but it takes time, preparation and realistic expectations.

Before you sign up, it’s a good idea to know what fees are associated with your payout. Airbnb calculates your payout as your nightly rate minus the host service fee, which is generally 3%.

Along with their homes, hosts can charge for “experiences,” which are Airbnb describes as “excursions or other activities designed and led by local hosts.”

Airbnb also usually charges hosts who offer an experience a 20% fee, largely based on the experience. They’re only available in certain cities as of now, but the list is expanding.

Consider how renting will affect your taxes

When it comes to renting your space, many first-timers don’t know about the 14-day rule allowed by the IRS . This provision, sometimes called the “Master’s exception,” named after the Master’s golf tournament in Augusta, Georgia, means you don’t have to pay tax on the income you earn from renting out your home. The key is that the renters can’t stay longer than 14 days a year and you must live there at least 14 days of the year.

Keep tabs on your spending

No matter how much money you spend on sprucing up, cleaning and overall improving your dwelling, keep good records. Come tax time, you’ll want to be able to document every expense that’s deductible.

Once you feel comfortable about having someone stay in your home, it’s time to find some guests! The first thing you want to do is take photos of your home so that they will show well on the Airbnb site and app.

Take gorgeous photos of your home

The importance of taking great pictures of your home’s exterior and interior is such that a whole photography cottage industry has popped up and Airbnb supports it. People have made careers out of just taking photos of rental properties.

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If you plan on doing the photography yourself, some photo tips you’ll want to consider include always brightening the photo and shooting corners to show more space.

List your home on Airbnb

Ready to make money on Airbnb? Go to Airbnb.com, log in and list your home. When you do, you may get a few questions from interested parties. Make sure you answer in a timely fashion. They’re probably gauging several places at once, and being the first one to get back to them may make the difference between $$$ in your pocket or not.

If your abode stays on the site awhile without any takers, that’s OK. Many hosts don’t get any guests until it’s vacation season or a really large event takes place in their town. But once you get some inquiries, that’s your cue to inquire a little yourself.

Try to find out as much about the guest as possible

If someone inquires about your home, you can approve or deny the request. But before you make your decision, it’s good to know why they are interested in your home. Read any reviews on the prospective guest’s previous Airbnb stays so that you can make an informed decision.

In many cases, individuals, friends or families may be on vacation and looking to explore a new city. In other cases, you may be able to surmise that they’re planning on throwing a huge party — one that could get them and you in huge trouble!

Once you decide to accept the guest, the next order of business is making sure your home is safe and clean.

Expertly clean your home

While it’s true that you may be able to take a mop or vacuum cleaner and make your floors look brand-new, when it comes to cleaning, there are nooks and crannies that you’ll likely need professional help with.

Cleanliness, along with safety, is probably the highest value that an Airbnb home can possess— and it’s easy to brush it off (excuse the pun). If you don’t have a few days to devote to it, consider hiring a professional cleaner or maid service to give your pad the stellar shine it deserves.

If you choose to forgo the DIY route, sites like Tidy.com and TurnoverBnb are primed to clean short-term rentals.

Make sure your home is well stocked

No, you don’t have to provide food, but regular toiletries and basic cleaning supplies should be stored in a common area for easy access. If your guests need some paper towels because of a spill, they shouldn’t have to be tempted to use a bed sheet.

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RELATED: How not to get kicked out of your Airbnb

Create some house rules

The best Airbnb transactions take place when there are clear expectations on both sides. Guests expect clean and safe homes that they can be comfortable in. Before your guests arrive, send them house rules that they must abide by (we’ve also seen them posted on the fridge). These should not only be things that are important for you (no house guests allowed), but also respectful nods to your neighbors (no skinny dipping in the hot tub) and city ordinances (no loud music after 9 p.m.).

Be of service to your guest

While many hosts may never see or meet their guests, you can really score some points for hospitality if you make time to greet your visitors and perhaps answer their questions.

Financial blogger Paula Pant, who wrote for Clark.com about her experience renting her place on Airbnb, said she viewed the transaction as providing a service.

“As an Airbnb host , I see my role as that of a hotel concierge,” Pant wrote . “I offer complimentary bottles of water, give directions and offer restaurant suggestions. I supply my guests with an abundance of fresh, fluffy bath towels, matching plates and mugs, wine glasses and a few coffee table books.” Again, keep good records of these expenses for when tax time rolls around.

What to do if there are disputes

As with anything, disagreements sometimes happen. Airbnb usually errs on the side of the homeowner when it comes to disputes, so make sure you keep as many records as you can. That includes photos of your place from before guests arrive and after they leave.

If your guests want to start correspondence outside of the Airbnb app, politely tell them that you’d rather communicate inside the platform. That way, Airbnb has documentation in case there is a disagreement over the rental terms.

Keep a record of expenses — you can deduct them

The Internal Revenue Service allows you to deduct normal supplies you buy to keep your Airbnb business going. That means you can get your money back for things like light bulbs, paper towels and cloth towels. If you provide food in the pantry for your guests or an expensive bottle of wine, it’s all deductible as part of your rental.

Deduct the service fee from your earnings

As for Airbnb’s service fee , you can deduct that amount from your earnings on your 1099. If you rented out your home for at least 14 days in the year, you should receive a 1099.

Make sure you file a W-9

Airbnb and other homesharing companies must withhold 28% (your specific tax rate may be lower) of your income if you don’t provide them with a W-9 form.

Keep up to date with the latest money-making tips and more at Clark.com . Subscribe to our newsletter and follow us on Twitter and Facebook!