Please Don't Waste Your Money on These Things

Hi again! Here’s the week’s important ideas, tips, and news to boost your life.

You Should Know

• The biggest wave of retirements in U.S. history is happening now. We have reached “Peak 65.” This is when the largest number of baby boomers (people born between 1945 and 1960) turn 65, reshaping the U.S. economy for better or worse.

• Thanks to stronger than expected inflation, mortgage rates recently surpassed 7% for the first time this year.

• It’s National Park Week! There are special activities planned through April 28. Check out the event calendar. The $80 annual pass is a great deal. The pass grants unlimited entrance to national parks and other federal recreation areas for a full year.

Please Don't Waste Your Money on These Things

The world is full of money traps. We could write an endless list of items that are a huge waste of money, such as cigarettes, gambling, alcoholic drinks in restaurants, Starbucks, etc. However, people value things differently, and many feel such purchases are worth it.

However, we think the items below deserve special, universal outrage – these goods/services have much cheaper alternatives that provide the same benefit or they really just aren’t needed:

• Foaming soap - This product is 1/3 of the original soap product diluted with 2/3 water at a marked-up price. It’s the pump that makes the soap foam. Just buy regular ass soap or reuse the pump with your own soap mixture.

• Tylenol, Advil, Motrin, Claritin, Zyrtec, Benadryl, Nexium, Prilosec – These brand name drugs can be replaced with cheaper generic drugs. Generic drugs are made with the exact same active ingredients as brand name drugs and they must meet the same FDA standards for safety and quality. When you buy these brand name drugs, you’re literally paying extra for different box.

• Detergent pods - These little packets are much more expensive per load of laundry than liquid or powder detergent. You’re paying a lot to save a few seconds (i.e., flinging a packet instead of pouring detergent). Also, the pre-measured packets are often too much detergent. Obviously, liquid and powder can be adjusted to the size of the laundry load.

• Timeshares – Ignore the “owning your vacation” marketing bullsh*t. The annual maintenance fees are big and escalate over time. These fees can easily outweigh the cost of a hotel stay. The resale price will likely be lower than your original purchase price, because the market is saturated with these albatross “investments.”

• Extended warranties – Where to start on how big of waste this is? First, you’re adding 10-30% to the original purchase price. You rarely need it. There’s already a manufacturer’s warranty that lasts for about a year (when a truly defective product breaks down). Extended warranties often don’t cover the most common damages – cosmetic blemishes, accidental drops, or malfunctions caused by user error.

• Basic banking services with fees – There’s no reason to be loyal to your bank. You have no problem dropping streaming services, but banks are off limits? Get with the 21st century. Plenty of online banks exist which offer no fees on checking accounts, ATM withdrawals, and overdrafts, like Capital One, Discover, and Ally.

• Air fresheners – You’re masking an unpleasant smell, not getting rid of the underlying source of an odor. Open the window until you find the odor’s origin.

• Bottled water – Tap water is considered safe to drink by the CDC and EPA in the vast majority of U.S. municipalities (check your area’s tap water safety here). Many bottled water brands (e.g., Dasani, Aquafina) purchase water from the same municipal tap water systems that serve you. If you’re concerned about tap water, buy a budget-friendly activated carbon filter (e.g., Brita) or a reverse osmosis system, both of which are far cheaper and more earth-friendly than bottled water.

Make Some Extra Cash

• Fat Llama lets you rent almost anything to anyone. No kidding on the almost anything – toys, scooters, cameras, drones, vehicles, karaoke equipment, etc. The platform provides insurance to cover your rental item up to $30,000. Make sure you’re available for handovers on the days being booked by the renter.

• Fibler lets you offer private consultations and group coaching to clients. The app is great for tutors, coaches, influencers, people in the legal or healthcare fields, and other professionals who want to earn money on the side. You’ll consult through voice/video calls, text chat, and videocasts. Set your own per-minute fees. You have apply to join Fibler’s network of Verified Experts.

• Moodi Day is a platform for verified cannabis video reviews and ratings that helps cannabis consumers find the right products. You’ll earn cash for every verified review submitted. To qualify, you must shop at licensed dispensaries.

• Tada is an app that gives you cash back on your grocery purchases. Simply download the app, buy groceries like normal, take a picture of your receipt, and get cash back. Tada is offering a $5 welcome bonus on your first 2 receipt scans.

How to Maximize Your Paid Time Off Days in 2024

Did you know companies in France and Austria area required to give employees 25 days of paid time off (PTO) annually? Most companies in Europe give at least 20 days of PTO.

The U.S. only requires companies to give employees a minimum of 10 PTO days annually. In fact, employers in the U.S. are not even legally required to give workers PTO on public holidays. Well, at least we have our freedom.

Thankfully, if you’re smart about taking PTO days, you can enjoy some extended breaks. To maximize leave, we recommend you take these days off:

• May 24: enjoy a 4-day weekend, ending on Memorial Day (May 27).

• May 28-31: enjoy a 9-day vacation by taking 4 days off.

• June 20-21: enjoy a 5-day break starting on Juneteenth (June 19), which is our newest federal holiday, by taking just 2 days off.

• July 1-3 and 5: enjoy a 9-day vacation by taking 4 days off; remember, July 4 falls on a Thursday.

• Sep 3-6: enjoy a 9-day vacation, starting on Labor Day (Sep 2, Monday), by taking 4 days off.

• Nov 12-15: enjoy a 9-day vacation, starting on Veterans Day (Nov 11, Monday), by taking 4 days off.

• Nov 25-27 and 29: enjoy a 9-day vacation by taking 4 days off; remember, Thanksgiving (Nov 28) is always on Thursday.

• Dec 23-27 and 30-31: enjoy a 12-day vacation by taking six days off.

AirPods Stolen or Laptop Damaged? Look for Free Insurance in Your Wallet

The credit cards in your wallet offer great protection. One of the most overlooked benefits of many cards is their purchase protection plans, which is like short-term insurance on your new stuff. If you buy an item with a credit card that has a protection plan, you’ll be covered against theft or accidental damage for a certain period.

Coverage amounts and durations can vary by card, and you might have to pay a deductible before receiving reimbursement. Also, you’ll be limited to $500 to $10,000 per claim. Lost items typically are not covered by protection plans.

Understand that purchase protection is different from extended warranty coverage. While extended warranty focuses on repairs for malfunctioning items, purchase protection offers coverage in case your belongings are stolen or accidentally wrecked.

There will typically be a claim filing process that involves submitting documents like your credit card statement, a receipt from the store, a theft report from the police or documentation from your primary insurance provider.

Two popular cards with strong protection plans are the Chase Sapphire Preferred Card ($95 annual fee) and American Express Gold Card ($250 annual fee).

Sit Back and Earn Minimal Effort Money by Receiving Texts, Email, and Junk Mail

Here are some nifty ways to get paid by receiving communication:

• Small Business Knowledge Center (SBKC) pays you to receive (and send back) junk mail. The company works with panelists (that’s you) around the nation in doing market research on direct marketing trends. You’ll get mailings related to insurance, credit cards, cable TV, mobile phones, airlines, etc. You don’t have to read the mail. Simply put the junk mail in a prepaid envelope (provided by SBKC) and drop it in the mailbox. You can maximize your earnings by signing up yourself and any adults in your household. There might be a waiting list depending on your location.

• Paid To Read Email lets you earn money by receiving emails and confirming that you read them. You’ll earn $0.01 - $0.10 for every email that you confirm. There’s even a $3 sign-up bonus. There’s a $15 payout limit. You can also take daily paid surveys (earn $0.50 - $1 per survey).

• McMoney is an app (Android only!) that lets you earn money by receiving SMS messages on your phone. No, it’s not associated with McDonald’s. The text messages will be from mobile network providers to check their network functionality. No need to interact the messages in any way. You’ll earn $0.02 - $0.06 per text. You’ll receive the first text message about three days after you sign up.

• SMSProfit is like McMoney – very minimal effort and you get paid for receiving SMS messages. Just download the Android app, run it, and make sure that your phone is always on the internet. You need an email address and at least one phone number to sign up. Payment is through PayPal or Bitcoin.