Complaints about rebates are skyrocketing, according to a story in U.S. News & World Report, with more shoppers growing frustrated over confusing redemption rules, tight deadlines, and other roadblocks to cashing in on the promised money back. Still, they're a popular marketing tool, a way for manufacturers and retailers to promote discounts, all the while knowing that only a fraction of buyers will bother to apply for the rebate. For those who are good at reading fine print, the article recommended several web sites listing the latest rebate offers, including: FreeAfterRebate.info
, RebatePlace
, PriceGrabber.com
, and RebateList.net
.
Matt's View
Just remember, a deal isn't a deal unless it's a deal on something you were planning to buy anyway.
If you bought a diamond between 1994 and early 2006 (come on guys, you can remember the year you got engaged, can't you?) you may be able to get back a portion of what you paid in the form of a rebate. As reported by the Chicago Tribune, it's the result of a class-action lawsuit filed against the De Beers diamond company for price fixing and monopoly practices. While the company has not acknowledged any wrongdoing, it agreed to settle the suit by paying $295 million. In order to cash in, you'll need a receipt or some other proof of purchase. Rebates will be based on how many people file claims and the price paid, totaling as much as 59 percent of the retail price. You have until May 19th to file a claim
.
Matt's View
Whether you qualify for the diamond rebate or end up getting money from the government's proposed income tax rebate, plan ahead for how you'll use the money. All too often, money gained quickly is spent just as quickly.
Wondering if the cost of your pet pot-bellied pig qualifies as a medical deduction because having it around is so therapeutic? As reported by FiLife.com, until the end of this month, the folks at Turbo Tax are standing by to answer your tax questions--no matter how ordinary or odd--for free. Just submit the question via e-mail
and they promise to call you with an answer within 48 hours.
Matt's View
One other tax matter of note is that if your adjusted gross income was $54,000 or less in 2007, you qualify for Free File
, an IRS-sponsored free online tax preparation service. It's reported to be the fastest way to file your federal income tax return, and direct deposit refunds are transferred to your bank in as few as 10 days. If you made more than $54,000, you can still file online through e-file
, but there are fees involved.
If you carry a balance on a credit card, you probably know the helpless feeling of dutifully making the minimum payment, only to get your next statement and see how little your balance has budged. A better approach is fixing the amount that you pay each month (instead of paying the minimum amount required by your credit card company, which declines slightly each month), and then, once one debt is paid off, rolling the amount you had been paying on that debt into the monthly payment on your next lowest balance debt. Even better, of course, is to pay more than the minimum. I just found a free online calculator
that will show you the motivating results of taking either approach.
Enter the requested information for each of your credit cards, choose "lowest to highest balance," and then hit "submit." It'll show you how much faster you'll be out of debt if you lock your monthly payment on this month's minimum and then, once you pay off one debt, you roll the amount you were paying on it into the next lowest balance debt. Next, enter an amount for "extra monthly payment" and you'll see that adding even $25 to what you've been paying will speed up the process even further.
Matt's View
The verbiage above the calculator says to pay off your high interest debts first, but I disagree. The best way to get out of debt is to focus on wiping out the lowest balance debt first. That'll lead to a quick win, which will motivate you to keep going. So, pay more than the minimum required and apply the entire extra amount to your lowest balance debt first. Once that one's paid off, apply the full amount you were paying on it to your next lowest balance debt.
