Something On My Mind

Do you recall a time where a credit card offer arrived in the mail and blank checks were attached? These are called convenience checks which can be attached with your current credit card or a new company. These blank checks are linked   directly to a current credit card's line of credit or when you are establishing an account with a new issuer. They function like a personal check but draw money fr...

Buy Now Pay Later Services or BNPL have grown immensely in popularity over the recent years and the appeal is obvious with their convenient alternative to the traditional credit  card. So let’s review the main pros and cons. BNPL services offer several benefits that make them appealing to many shoppers. They provide easy approval, often requiring only soft credit checks—or none at all—so they’re a...

A home warranty can be a useful  financial tool for homeowners, especially when major appliances or home systems unexpectedly break down. (This is where the Rainy Day Fund comes into play that we’ve previously covered in previous topics) The cost of these plans averages from $600 to $900 per year, depending on the level of coverage and provider and service calls typically range from $75 to $150 pe...

Seeing that 75% of Americans live paycheck-paycheck and can’t afford to retire at 65 years of age, this means that they cannot afford their homes. With this statement you may think that is not right! People stay in their homes without missing payments throughout their lives. This may be true; however, when you look at it holistically, a different viewpoint emerges. So let’s discuss. According to t...

It’s no secret that medical bills are among the most significant expenses we face in our lifetimes. While we often can’t control the cost, there are several ways to soften the financial impact. Let’s perform a diagnosis—and a treatment plan: Verify Insurance Processing: When you receive a medical bill, confirm that your insurance claim has been fully processed. It’s common to receive a bill before...

For most owners, when they purchase their homes, the monthly mortgage payment is a fixed amount for 30-years and sometimes 15, people still become accustomed to a standard payment each month. On top of the mortgage payment is an escrow account established by the lender to manage payments typically for property taxes, homeowners insurance, and, in some cases, private mortgage insurance (PMI).  So e...

In the prior personal finance tip #97 which was how to save on the little things, we mentioned how to be awarded with Amazon digital credits for delaying delivery and we mentioned buying a monthly car wash plan.  We also covered the value of buying long term products and services rather than single use items which occur multiple times. Lastly, we covered the value of buying products on the basis o...

Website   https://www.somethingonmymind.net/ Merchandise https://www.somethingonmymind.net/shop Social Media  https://www.instagram.com/somm.podcast/ https://www.youtube.com/channel/UChec5qcZBcGkIhUU3belNDw https://www.tiktok.com/@somm.podcast?lang=en https://www.facebook.com/somm.podcasthttps://twitter.com/Somm_podcast When it comes to budgeting, people think about the monthly expenses for items...

According to Bloomberg, auto insurance rates in the US have increased by 37% since January 2020, and as of December 2024, the trend shows no signs of slowing down. This is understandably concerning. When you factor in car payments, fuel, and maintenance along with insurance, auto expenses can easily become one of the largest budget categories. Several factors contribute to this rise, with two majo...

In times of high interest rate environments, most people will not refinance due to the cost. With that being said, circumstances arise to warrant this, such as divorce, marriage or a job relocation. For the most part, people wait for the federal reserve to cut rates so that borrowing money is more palatable. For example, at the time of this recording, the average interest rate for a 30-year mortga...

Today is 2/11/24 which is the Superbowl with the Kansas City Chiefs vs. the San Francisco 49’ers and this marks the 57th time that this game will have been played. This is a large amount of years, so we decided to run some math based on the amount at which things are consumed and what they cost. Let’s start with advertising and the cost for a one minute spot during the game: In 1967: $37,500. For...

After the December holidays we often hear people talk in social groups and in the media that the credit card bills are coming due as a result of shopping during the December holidays. Obviously, this means only one thing: that if you have payments coming, debt was compiled that can’t be paid off in one billing cycle. Moreover, the simple fact is that when this occurs, it means that people are buyi...

Okay, you’ve got to be escheating me. What on earth does that mean? The definition derives from medieval times, in feudal law. When a landowner (tenant of a fief) died without an heir or committed a felony, a process was needed for the ownership of the land. In modern times it is the right of a government to take ownership of estate assets or unclaimed property in the event there are no heirs or b...

The United States culture tends to recognize many types of celebrations and this has created a common theme of replacing presents with gift cards. They are easy to purchase, simple to use and the beauty is that people can shop for what they want without having to wrap and return items. Throughout the years gift cards can accumulate in wallets or desk drawers and many people are waiting to redeem t...

According to Zippia.com, in 2021 the average amount homeowners spent on home improvement was $10,341 which was up 25% from 2021. This makes sense as people spent their cabin fever time improving their homes and now that Covid is more controlled. People are spending more due to M1 money supply with unemployment and stimulus checks. Now that labor rates are rising due to lack of resources, the gener...

If you have a dog and a fenced-in yard, this helps your furry companion with better overall health as it provides him the ability to be outdoors, exercise and have a consistent marked territory. On the other hand, if you do not have a fenced yard, this is where the invisible fencing comes into play. Other than the shock factor that your pet will adapt to, this is a fantastic option. This has been...

According to AgHires, Over 74 million Americans grilled out for the 4th of July. Of this food, burgers will be cooked by 85% of people, steak 80%, and chicken 73% and not to mention, 150 million hot dogs. When it comes to grilling, 61% of people choose propane and 49% for the charcoal purists according to statista.com. Now that we’ve had some heat on this topic, the last thing that you want to do...

When it comes to using a couch, sofa or chair, many people simply use it and do not think about maintenance; however, this may leave you with furniture that wears out prematurely. So to avoid this, let’s go through some tips: 1. Rotate and fluff seat and back cushions regularly. This simply extends the life of the furniture 2. Rotate identical upholstered accent and dining room chairs when one or...

Even in times of rising inflation, people seem to be going out and spending money. This is likely to occur for some time until things are too expensive and we fall into a recession or in stagflation state. At the moment the world has a handle on Covid and entertainment venues are filling the seats. So when going to an event, the question is: do you buy your tickets right away or do you wait? If it...

The Earth might seem like it has abundant water, but in fact less than one percent is available for human use and we are running out of it. So let’s push down the handle on some Flush Facts: According to the EPA, the average American uses 300 gallons of water per day or about 80 gallons per person. In addition, roughly 70 percent of this use occurs indoors. So it goes without saying that there is...

In times when inflation is rising, we experience higher prices for our goods and services as well as shortages. For example, In the grocery store, we’ve experienced products in limited supply from toilet paper to baby formula. When a desired product is available, it is emptied as soon as it was stocked. When it comes to gasoline, supply chain disruption was experienced in 1973 and 1979. This also...

This week’s personal finance tip is about Better Battery Co’s Recycling and Delivery Program. Can you imagine how many batteries are in landfills considering every household uses them? According to The California Department of Resources and Recycling, it is estimated that 4 billion disposable batteries are shipped to the US each year and that means the average US household uses an estimated 47 bat...

It seems that everyone has a cell phone and back in the day that was the sentiment for owning a television. The difference is that people’s devices are attached to the palm of their hands. The interesting thing is that a cell phone can cost more than most T.V. 's but we tend to test their durability. It is plausible to say that people drop their phones at least twice a day. Moreover, we’ve all hea...

It seems that everyone has a cell phone and back in the day that was the sentiment for owning a television. The difference is that people’s devices are attached to the palm of their hands. The interesting thing is that a cell phone can cost more than most T.V. 's but we tend to test their durability. It is plausible to say that people drop their phones at least twice a day. Moreover, we’ve all hea...

When it comes to our finance tips, we haven’t covered reusable batteries as this seems like a no-brainer; and that exactly a case; however, sometimes we need a reminder. Rechargeable batteries have been around since I was a kid in the 70’s and they juiced up my remote control cars and my giant dual tape deck boom box radio. Now that we are in the 2020’s we still have an insatiable need for batteri...