We are in the last stages of our vacation in Orlando. But here is something I really want to write about and get it off my chest.

As with most vacationers in Orlando, we rented a car. This time, it was from Hertz. We did not get it directly from the airport, but instead, the company picked me up from the hotel the day after we arrived.

When I was at the counter paying them, the lady behind the counter went into their usual “upsell” questions. It was very subtle, but at the same time tricky for those who are renting a car for the first time.

Do you need any collision insurance?

Well, if you did not already know, most credit cards provide auto rental collision insurance if you charge your card when you rent a car. For me, my Amex Card did the trick. I have made it a point to call up customer service and verify this. So no problems at all with collision insurance (even though some rental companies may state that it is mandatory!). I pollitely declined their offer.

But there next question got me thinking for a while!

Sir - would you like to prepay your gas tank so you will not have to fill her up when you return the car? We will bill you $47, but is at a rate of $2.99 per gallon of gasoline

Hmmm. This one got me thinking. My instinct was to decline since most of these extras are unnecessary. I declined it and boy was I glad I did. Here’s an analysis of the situation after 6 days in Orlando.

Our hotel was only about 1 exit away from highway 4 (which is only 1 minute from our hotel). Hence, everyday, it is only a 5 minute journey to all the disney attractions (whether it is Magic Kingdon, Epcot, or Animal Kingdom). With 2 more days left on our vacation, we have only used up a quarter of gasoline (from a full tank).

On the way back yesterday, we checked the price of gasoline where we were at a Chevron station. Well, it turned out to be $3.49 per gallon. Still, it would cost me way less than $47 to fill up the gas tank before I return my car. (BTW - the car is a Toyota Corolla, which is pretty fuel efficient).

This last offer on prepaying your gasoline before you return your car is a very sneaky one indeed. I suspect most will not benefit from this unless you definitely know you will have to fill up (and use up) a full tank. Once again, if an auto rental company ask you if you want any additional features when you are at the counter, chances are you will not need them!

Have you been asked any other “upgrade feaures” by auto rental companies?

It’s time of the year again for yard sales. For some, it’s to clean out their closets & garage but for some it’s because they are moving. Nevertheless, it’s always fun for the bargain hunters.

Last weekend, my neighbor had a yard sale because they are moving back to the UK. As they had to pay for their own shipping, they sold away almost everything they bought when they first moved in 3 years ago. I was fortunate enough to have a “presale” and picked out what I needed a few weeks before. My neighbor also invited us to “piggyback” the yard sale if we have “treasures or junk” to sell. So, couple of us put out extra tables on that day and her kids sold lemonade. All the kids played while the adults were hawking their wares.

I am constantly cleaning out our closets and dealing with clutter. Hence, it took me quite a while to gather up what to sell at the yard sale. In the end, my kids and I decided to sell all the kiddy videos and Thomas the Tank Engine books that they outgrew. We also took out the stroller, two pairs of Spider Man “roller skates cum shoes” we got from ToysRus NYC, 2 new picture frames and a Megablocks Piano. We only sold the Piano and Thomas the Tank Engine Books - netted only $6. In contrast, I spent more than $300 buying up my neighbor’s “treasures”.

Our loot includes :

1. An Ikea dining table - which matches our dining chair
2. A bicycle
3. Leather Office Chair
4. A bookcase
5. An electric carving knife and bread knife set
6. Several books on dinosaurs and dinosaur toys
7. Shoe racks, picnic blanket, sleds & more books were free.

Items 1 to 3 were bought during the presale.

My neighbor made out very well during the yard sale. In fact, there were people waiting outside her garage before 9am - the official opening time and she sold the bulk of the furniture within half an hour. It was the books, toys and planters that were not popular.

All in all it was a fun day. The kids get to buy toys, play balls, eat hotdogs and drink lemonade while the adults get to socialise and spend money. But bear in mind that we also saved a lot of money buying these stuff from a moving sale!

While many people get into trouble with debt due to unforseen circumstances like a huge medical bill, others simply get into trouble because of spending discipline (or lack of). Credit cards have become such an essential thing in our lifes now that we (at least I do) use it for every thing we buy. However, the convenience we get from using a credit card also traps people into a spending binge and eventually a credit card debt spiral.

I recently got to know two friends who used to have problems with their credit card debt and this was what they suggest you do if you have problems with your spending habits (you obviously need to formulate a debt reduction plan - but you also need to change some habits)

1. Stop Using Your Credit Cards - Do not cancel your card as this will hurt your score (you also cannot cancel cards with a balance!). But rather, just cut them up and stop using them. Both told me that having to pay with cash really makes you think twice about parting with it. I personally don’t think I can stop using my credit cards. But if I did have a problem, then I’ll probably just use one!

2. Eat at Home - Yes, it not only saves money, but you will probably eat more health food as well. But eating at home will save at least half of your food expenses. This tends to be a problem for two busy working couples who are simply exhausted when they come back from work. One solution is to cook the food over the weekend and pack it in the freezer. Simply microwave it when you get back from home during the weekdays.

3. Stop going to the mall - For shopoholics, this might amount to cold turkey. But it is probably necessary cold turkey if you are constantly doing impluse shopping and piling up your credit card debt. Go to the park and run instead!

4. Use the library - Your local library probably has all the magazines that you want to read. Mine has DVDs too! I just recently borrowed the latest James Bond Casino Royale from the library and did not have to pay any fees.

5. Use quicken and check your bank balance every day - Let’s face it, the reason why most people have financial problems is because they do not treat their finances as a business. Businesses look at business reports every day. Train yourself to look at finances every day. Use a software like Quicken or Microsoft Money. Once you get into the habit to looking at your finances every day or once a week, you will treat your expenses in a different light.

Well, these were the main things I got out of my two new friends. I thought they made sense and these were things they actually did (not some theory on how you should you do it). You may realize that if you implement these steps and take their advice, it essentially involves a change in lifestyle. But that is what you probably need if your spending is out of control.

Share you thoughts and other ideas below.

During a short visit to Strasburg in Pennsylvania, I found a Pottery Barn at Rockvale Outlets. I found somethings that I always wanted but could not buy because they were too pricey (at least for me). On top of that, I didn’t want to pay for the hefty shipping surcharges.

I bought an entry bench from the Samantha Collection - mahogany stain & the gingham roman shades. Both items are catalogue/internet exclusive. The regular price for the bench was $399 & the outlet price was $285. However, there was an additional 40% off & we paid $185 ! The shades were originally $89 & outlet price was $59.97. However, it was further discounted to $21.97 and on that day they offered another 20% off on all items except for furniture which had 40% off. The final price for the shades were $17.57 each. We took 4 shades - 2 for each of our boys’ rooms. I was overjoyed !

Although the bench has 2 minor scratches, it was OK because my kids would have “abuse” it within days. The roman shades - unbelievable ! I didn’t have to buy separate rods and curtains and they are easy to install (makes mr credit card happy). In fact the shades are lined with blackout materials which is what I wanted.

(Left) - The bench that we bought. Right - 40% discount sign at Pottery Barn Outlet.

I love browsing at Pottery Barn Outlet. They have merchandise from West Elms & William & Sonoma too. They have everything you need for a house. From beds, mirrors, sheets, lawn chairs etc etc etc…..I was almost dragged out by the store assistants at closing. You can buy so many beautiful things for your house at a fraction of what you might pay at the regular store/catalogue/internet - even at their sale price. With careful planning and patience, you too can furnish your house in style.

Shopping at outlets is definitely a great way to save especially for big ticket items like furniture, china, designer clothes and shoes.

I’m patiently waiting to return to the store again - and my neighbor wants to come along !

P.S. - This post is written by Mrs Credit Card (as I’m sure you suspected!)

We were at New York over the weekend with the kids and obviously, we ended up at Toys R Us.

Mrs Credit Card had a few things to shop. Our kids have been invited to a couple of birthday parties. Our own kids birthday was in June. We could end up spending a lot, but fortunately we managed to get a 20% discount coupon from the most unexpected place.

We got a 20% discount from the City Guide New York! And we got the City Guide New York from our hotel at The Hampton Inn Chelsea at 24th st between 6th and 7th Ave. In fact, when Mrs Credit Card presented the coupon to the cashier, they did not accept it straight away and decided to check it. They even asked where she got it from and was surprised when we told them where we got it. In fact, the cashiers even said they will be looking to get this discount coupon for themselves.

What was more interesting was that there were other coupons from other merchants as well. So when you are travelling (especially to New York), you might want to check out the City Guides (in whatever city you are going) at the Hotel Lobby that you are staying. You may just save yourself a few dollars in change. We certainly did.

By the way, this discount is valid until the end of May. But I won’t be surprised if there is another promotion after that!

Two years ago, I bought a JVC DILA Rear Projection TV from Best Buy. The TV was 50 inches diagonally and I was very pleased with it. At the time of the purchase, I was offered a four year warranty by Best Buy which cost me about $400. To be honest, I was hesitant to cough up so much just for the warranty. The manufacturer (as I was told) only gave a one year warranty.

But I still decided to take it up anyway (just in case). Every thing was OK with the TV until last week when it just went blank with a buzz sound! I gave a call to Best Buy and within a few days, the repairman came and fixed the JVC. I was told that one of the bulbs was broken and it had to be replaced. Without any warranties, this would have cost me $500! Hence, I guess that paying upfront for that four year warranty did save me some money.

Not too long ago, I had another appliance break down. This time, it was the new dryer I had bought from Sears. Apparantly, the sensors was broken and the dryer kept on going without stopping! Once again, I had paid for the warranty and everything was fixed with no extra cost.

I kind of sense that today’s appliances and gadgets (unlike the old TV tube) was made to last only about three years and manufacturers expect consumers to replace them the moment a new model is introduced. I do not know about you but I tend to keep my gadgets and appliances for a very long time. But because today’s products aren’t really made to last, I think paying up for extra warranty makes sense. I was very tempted not to do that because I charge all my expenses to my Blue Cash from American Express. Amex cards extend your manufacturers warranty for one extra year from the time the manufacturers warranty ends. However, I wanted a longer warranty and so I paid up for it.

My advice to those who buy new appliances is to pay for the warranty. Given that stuff produced today aren’t made to last a lifetime, you will almost end up with some hefty repair cost sooner or later. Paying up for a warranty now has saved me lots of money and I suspect it will save you money as well

Since last year, my family goes to the public library every friday. The reason we go is that there is a chess club (unofficial) whose members gathers at the library from 6:30pm until it closes at 9:00pm. My eldest son plays chess and enjoys going there to meet friends and having a sparring session. My other kids read and use the computer.

Meanwhile Daddy goes to the magazine section and read through as many magazines that I can get my hands on. When I first went to the library, I was amazed at the amount of magazines they had. I had never read so many magazines before. Before we started going regularly to the library, I had subscribed to Fortune, Business Week, Money, Barrons and a few other magazines. I have since stopped subscribing to these magazines because I can read them for free at the library!

Meanwhile, I noticed that Mrs Credit Card started borrowing DVDs from the libary (and we’re talking about the latest releases!). It made us realize that we should never subscribe to netflix or even set foot in a blockbuster video rental store! We could borrow the DVDs for three days (there are also CDs).

There are also about 10 computers that had access to the internet. I used them occasionally, but the connection was too slow for my liking (but hey, what did you expect?).

I have seen a few post in the past about cancelling one’s cable TV and subscribing to Netflix instead. I’d say forget about Netflix and go to your nearest public library. Another idea for those looking to cut their expenditure is to cancel your magazine subsribtion and check out your library as well. I found out that the library is one great resource that is probably under utlizied by most people. Your nearest public library may not be as good as the one near my place. But check it out before you subsribe to any new magazine or Netflix. You may end up saving yourself quite a bundle.

My main credit card at the moment is the Blue Cash® from American Express , which pays 5% rebate on “everyday purchase” (supermarket, gas and drugstore) and 1.5% on “everything else” once your annual spending exceeds $6,500. This has been my main cash back card for the last couple of years. The great thing about this card is that you can earn 5% rebates for a few common spending categories. But I was looking for more and I think I may have found the card that also pays 5% rebates when you spend your card at various retailers.

That card is the Discover Platinum Card. The thing that caught my eye was the fact that Discover has made agreements with various partners and if you use your Discover Card at these partners, you may get as much as 10% rebates. Here is a quick glance at what is potentially in store.

Cash Back at Various Merchants at ShopDiscover.com

1. Lands End - 10%
2. Overstock - 5%
3. Target - 5%
4. Carnival Cruise - 5%
5. Barnes and Nobles - 5%
6. FTD.com - 20%
7 myhotelstays.com - 10%

If you are looking for a card that pays you “actual cash rebates” (not reward points when you use your card at popular merchants, the Discover® Platinum Card could be the card you are looking for. I am applying for this card. I will be doing a more thorough study of the ShopDiscover.com site soon.

I am thinking of getting a car sometime later this year and I guess it is research time as I am not exactly a car fanatic. Fortunately, I just met a new friend who used to be a car dealer and boy did he give me a few tips for car shopping. This was what he told me.

1. Do your basic research on the model you want

Well, sounds very basic, but it is a necessary step. Do research on the internet. Find out how much the model is, what features you are looking for, their second hand value etc. There are also many forums arounds so he adviced me to check them out as well.

2. Obtain a Pre-approved Loan before you approach the dealer

Sounds elementary again, but my friend insisted that I should have a pre-approved auto loan in hand to bargain with the dealers. That should be easy enough.

3. Never Shop the Dealers over the Phone

While I thought this was a very tempting proposition, my friend told me never to do that. The reason is that dealers know it that you are just stringing them along that they never give their best prices. To get dealers to take you seriously, you have to visit their showroom and show interest in the car that you may want to buy.

4. Buy a car close to Month End

Every car salesperson has a monthly budget or quota to meet. Checking them out during the third week of the month and trying to close a deal by the last week is a great tactic according to my friend. I will definitely keep this in mind. Timing is the key.

5. Never Agree a Deal in the Showroom

The last advice my friend gave was never to agree a deal in the showroom. Always say that you have to talk to your partner about this, then leave. Wait for the salesperson to call you again (which will probably about a day later). When the call comes, try to negotiate for one last price reduction. Close the deal over the phone and then go to dealer for the paperwork and your car keys.

I appreciated his advice about the negotiation tactics. I will sure use them. I was thinking about getting the Citi® Driver’s Edge® Platinum Select® Card plus an Auto Rewards Credit Card for the specific brand that I want to help me save even more money. However, given that I would like to buy my car in the next few months, I probably do not have enough time to spend enough money on these cards to get me a significant rebate. Using these auto credit cards probably require a couple of years of planning to get the best bang for the buck.

I will update you on my car purchase when it happens.

Late last week, the Wall Street Journal published an article on how Comcast was doing with regards to their telephone VOIP and internet service rollout. While the article stressed how investors were concerned about them spending too much cash on capital expenditure, I was more interested in the number of sign ups they have had for these services.

The reason I was interested in their numbers was because I felt that their VOIP and Internet Connection Service did not really offer as much value as their competitors. In the fourth quarter of 2006, Comcast added 481,000 new phone subscribers for a total of 2.5 million. The company’s high-speed Internet business also grew sharply, adding 488,000 customers for a total of 11.5 million.

Having subscribed to Comcasts’ cable service (rather than Direct TV - which I should have), I constantly get mails and calls to try their other services. For a while, I used Comcast as my internet service provider. I was paying about $45.00 a month for the highest speed connection - about 5mbps (I think). However, I was not really satisfied with the connection because at times, my connection would slow to a crawl or my VOIP phone would just hang! This, I was told, was due to the fact that I was “sharing lines”.

When Verizon came knocking on my door offering a dedicated fibre optic line to my house for $45.00 a month, but with a download speed of 15mbps, I switched immediately.

For my phone, I have always used Vonage, as they are cheaper than any land line around. But once again, I keep getting mails from both Verizon and Comcast asking me to sign up for their own VOIP service. For comcast, the rate will be $33.00 a month for their Comcast VOIP service if you bundle it with their cable and internet service. If you do not bundle it, the price will be $44.99 a month. To me this is simply ridiculous. Even when you bundle it, it still cost more than Vonage!

Verizon’s VoiceWing is much more reasonable. For 500 minutes a month, the rate is $19.95 a month. For unlimited calling, the rate is $24.99 a month, the same as Vonage. For multiple lines (ie 2 lines), the rate is $44.95 a month. Since, I Verizon will not beat my Vonage, I see no reason to change.

But what puzzles me is that existing comcast customer are willing to pay about $9.00 more on a Comcast VOIP phone (or $108 a year) when cheaper alternatives like Vonage are around. I just don’t get it, there are lower alternatives around and still these companies have the cheek to tell you what great value their service is. In just one quarter, Comcast gained 481,000 in new phone subscribers even though Vonage and Verizon offer a much cheaper alternative! Don’t these consumers do any research?

Is bundling your service and having just one statement worth $100 a year? I don’t think so.