Did you receive a gift for Christmas that you don't want? If you didn't get a gift receipt and even if you don't know where it was purchased, all is not lost. An article on MSNBC offered up some suggestions for figuring out where the gift was purchased. They ranged from the dubious (feigning sincerity as you say to the giver, "This is so unique - where did you get it?") to the nearly honest (acknowledging your "need" to exchange the item). Once you know where the item was purchased, check the store's return policy online. One word of caution for "serial returners:" If you've made three returns within 45 days at the same store, you may be on the store's blacklist and will not be allowed to make any more returns.
Matt's View
Other ideas include reselling unwanted gifts on eBay and, of course, re-gifting. An idea that doesn't get much press is to give the item to an appropriate charity. A bonus tip is to be extra kind to the customer service person helping you with a return. Chances are good that they've put in extra hours over the holidays and have encountered more than their fair share of cranky customers.
Americans are more determined to get in better fiscal shape than physical shape in 2008, according to a study by Countrywide Bank. As reported by Reuters, some 67 percent of respondents to a nationwide survey said that becoming financially fit is a top New Year's resolution, while 57 percent said they are committed to becoming more physically fit in the New Year.
Matt's View
The story said that women are more "insecure" about their finances than men, noting that just 37 percent said they are currently financially fit, compared with 55 percent for men. But I find that to be a questionable interpretation. Past surveys have shown that women are simply more honest about their financial condition than men.
If you don't have a will, a U.S. News & World Report story suggested several relatively easy and inexpensive solutions. According to the article, do-it-yourself wills are best suited for people worth less than $2 million (the threshold for triggering estate taxes), and those with a fairly straightforward situation (no step children, no family business, no property owned in multiple states). If you have an uncomplicated financial life, the story suggested checking out websites like LegacyWriter
and BuildaWill
. After completing an online questionnaire and spending $19.95, you'll have a will. There are also downloadable computer programs like Quicken WillMaker Plus
for $39.99, which the story said offers "greater legal information." One other option is LegalZoom
, which also starts with a questionnaire but then has a "specialist" review your answers for completeness. The price starts at $69.
Matt's View
If you don't have a will--some surveys have found that up to 70 percent of U.S. adults don't--make this one of your top resolutions for 2008, especially if you have children.
In a surprisingly candid New York Times article, a personal finance writer acknowledged losing sight of $10,000 of family income over the past year. She and her husband use a budget and track their "basic" expenses. Still, when they totaled up the year's income versus expenses they found that $10,000 was unaccounted for. How did it happen? The answer, she believes, can be found in the word "basic." They were tracking most, but not all, of their expenses. And little by little, $10,000 slipped through their hands.
Matt's View
The single biggest factor that derails people's budgets is failing to track all spending. You forget to record your spending for a day or two, misplace a few receipts, get frustrated, and either give up or fool yourself into thinking that you're still capturing the big picture.
For those who record their spending with paper and pencil, one solution is to keep your budget somewhere you're likely to see it each day such as the kitchen table or your nightstand. For those who use electronic tools, one idea is to keep a small tray near your computer where all receipts are to be deposited at the end of each day, along with a notation on the back stating the purpose of the expense and its category.
