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Like To Shop From Your Phone? These 5 Apps Will Help You Save Big.

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From cashback sites to coupon aggregators, there’s no shortage of money-saving opportunities for savvy shoppers. But while many of these apps are great for people who shop from their laptops or even venture into physical stores, few work as well when shopping directly from a phone.

Even so, there are a few apps that make earning deep discounts on purchases easy for mobile shoppers. And I should know ― I’ve used them all. Often, you can stack the discounts from a few of these apps on a single purchase to multiply the savings. And if you use a rewards credit card to make the purchase? Now you’re cooking with gas.

But first, a word of warning: These apps only save you money if you use them on purchases you were going to make anyway. If you get carried away chasing that rewards dragon, you’re not really saving any money.

With that said, here are five tried-and-true apps that help you save money when shopping on your phone.

1. Wikibuy

Available on: iPhone, Android

Wikibuy is my favorite shopping tool thanks to several money-saving features. I started using the Wikibuy Chrome extension a few months ago to quickly see if any item I was considering purchasing could be found elsewhere for less. I use it alongside the Honey extension to run coupon codes before finalizing a purchase.

In addition to scouring the web for the best deals, Wikibuy also offers cash back on qualifying purchases and adds products I’ve viewed online to a “watchlist” that tracks price drops. It’s basically the Swiss army knife of shopping tools ― one that’s earned me an extra $8 and change on top of the savings I’ve scored so far.

Wikibuy

Activate discounts and cash back offers directly through the Wikibuy app.

Fortunately, many of these great features translate well to the mobile app. You can search for a particular item and see which retailer is offering the lowest price, or search by store to find out what sales and cash back offers currently exist. In the example above, I searched for Macy’s and found that Wikibuy was offering 6 percent cash back on purchases there at the moment. All I had to do was click “activate” to be taken directly to the Macy’s site with my cash back reward waiting to be automatically applied.

2. RetailMeNot

Available on: iPhone, Android

RetailMeNot has been around for a long time, and though there are many competitors out there, I still find their app to be one of the most mobile shopping-friendly.

RetailMeNot

Before going through with a mobile purchase, use the RetailMeNot app to check for coupon codes and deals available through that retailer. You can filter by in-store coupons, online codes and official store sales. The coupons are crowdsourced, so they won’t always work. However, the app will note whether codes have been verified by users and allows them to leave comments for others. Some purchases also qualify for cash back.

RetailMeNot’s coupon codes are an easy way to stack savings. For instance, you might use Wikibuy to find the best deal on a particular item and activate a cash back deal. Then before you check out, you can check RetailMeNot for coupon codes. Make the purchase on a rewards credit card to earn extra points, and after the transaction goes through, your Wikibuy account will also be credited.

3. Paribus

Available on: iPhone, desktop

To continue saving money after you’ve made a purchase, sign up for Paribus. The free tool tracks online purchases you’ve made by scanning your email for receipts and automatically submits claims for refunds when the price drops within the price protection window or is delivered late.

Paribus is a great tool because all the magic happens behind the scenes. I actually forgot I had signed up for it until I began receiving emails notifying me of claims Paribus had submitted. At first, I was a little freaked out that some app was contacting companies on my behalf and demanding money. But then I started receiving that money.

Paribus

Email from Paribus notifying me of a price drop.

For example, I received an email from Paribus regarding an entertainment center I recently purchased from Walmart online (side note: don’t ever buy an entertainment center online). The price had dropped within Walmart’s price protection period, so Paribus automatically contacted the retailer to request a refund for the difference. Even though I ended up returning that piece of junk item, it was nice to know Paribus had my back. I’ve also received small refunds when Amazon Prime purchases arrived past the guaranteed two-day delivery window.

4. Dosh

Available on: iPhone, Android

Dosh (which is U.K. slang for “money”) is a fairly new cash back app that’s set itself apart from the competition. Rather than researching offers ahead of time and dealing with coupons or codes, Dosh’s cash back system is more set-it-and-forget-it.

Simply link one or more credit cards to the app; when you make a qualifying purchase with that card, Dosh automatically applies your earnings ― up to 10 percent of the purchase price ― to your Dosh wallet. You can also browse the app for deals and click through to activate cash back.

Dosh

The Dosh app awards cash back for purchases at thousands of retailers, restaurants, hotels and more.

I recently signed up for Dosh and connected my rewards credit card to double up on earnings. I have yet to make a purchase, but I already earned a $5 bonus for linking my first card. Once I rack up at least $25, I can cash out via PayPal or direct deposit.

5. Drop

Available on: iPhone, Android

Drop is another fairly new cash back app that works similarly to Dosh, though it has a few limitations.

By linking your debit or credit card to your Drop account, you automatically earn points on qualifying purchases. Those points can then be redeemed for cash back in the form of gift cards to major retailers such as Amazon and Whole Foods. The downside is that you’re forced to choose only five merchants from Drop’s list that will qualify for points. Choose carefully, because you won’t be able to change your selections. However, Drop also recommends one-time offers from other retailers that you can take advantage of.

Drop

Dosh lets you earn points on one-time offers as well as from your chosen retailers.

Cash is earned at a rate of $0.001 per Drop point (1,000 Drop points = $1). Dosh also recently implemented an earning cap of 5,000 Drop points per week ($5). Clearly, this is no get-rich-quick scheme. But considering you don’t actually have to do anything to earn the points once your account is set up, you might as well add this app to your mobile shopping arsenal.

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4 things kids need to know about money

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(NC) Responsible spending includes knowing the difference between wants and needs. Back-to-school season, with added expenses and expectations around spending, is the perfect time to not only build your own budget for the year ahead, but also to introduce your own children to the concept of budgeting.

The experts at Capital One break down four basic things that every child should know about money, along with tips for bringing real-life examples into the conversation.

What money is. There’s no need for a full economic lesson,but knowing that money can be exchanged for goods and services, and that the government backs its value, is a great start.
How to earn money. Once your child understands what money is, use this foundational knowledge to connect the concepts of money and work. Start with the simple concept that people go to work in exchange for an income, and explain how it may take time (and work) to save for that new pair of sneakers or backpack. This can help kids develop patience and alleviate the pressure to purchase new items right away that might not be in your budget.
The many ways to pay. While there is a myriad of methods to pay for something in today’s digital age, you can start by explaining the difference between cash, debit and credit. When teaching your kids about credit, real examples help. For instance, if your child insists on a grocery store treat, offer to buy it for them as long as they pay you back from their allowance in a timely manner. If you need a refresher, tools like Capital One’s Credit Keeper can help you better understand your own credit score and the importance of that score to overall financial health.
How to build and follow a budget. This is where earning, spending, saving and sharing all come together. Build a budget that is realistic based on your income and spending needs and take advantage of banking apps to keep tabs on your spending in real-time. Have your kids think about how they might split their allowance into saving, spending and giving back to help them better understand money management.

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20 Percent Of Americans In Relationships Are Committing Financial Infidelity

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Nearly 30 million Americans are hiding a checking, savings, or credit card account from their spouse or live in partner, according to a new survey from CreditCards.com. That’s roughly 1 in 5 that currently have a live in partner or a spouse.

Around 5 million people — or 3 percent — used to commit “financial infidelity,” but no longer do.

Of all the respondents, millennials were more likely than other age groups to hide financial information from their partner. While 15 percent of older generations hid accounts from their partner, 28 percent of millennials were financially dishonest.

Regionally, Americans living in the South and the West were more likely to financially “cheat” than those living in the Northeast and Midwest.

Insecurity about earning and spending could drive some of this infidelity, according to CreditCards.com industry analyst Ted Rossman.

When it comes to millennials, witnessing divorce could have caused those aged 18-37 to try and squirrel away from Rossman calls a “freedom fund”.

“They’ve got this safety net,” Rossman said. They’re asking: “What if this relationship doesn’t work out?”

As bad as physical infidelity

More than half (55 percent) of those surveyed believed that financial infidelity was just as bad as physically cheating. That’s including some 20 percent who believed that financially cheating was worse.

But despite this, most didn’t find this to be a deal breaker.

Over 80 percent surveyed said they would be upset, but wouldn’t end the relationship. Only 2 percent of those asked would end the relationship if they discovered their spouse or partner was hiding $5,000 or more in credit card debt. That number however is highest among those lower middle class households ($30,000-$49,999 income bracket): Nearly 10 percent would break things off as a result.

Roughly 15 percent said they wouldn’t care at all. Studies do show however that money troubles is the leading cause of stress in a relationship.

That’s why, Rossman says, it’s important to share that information with your partner.

“Talking about money with your spouse isn’t always easy, but it has to be done,” he said. “You can still maintain some privacy over your finances, and even keep separate accounts if you and your spouse agree, but you need to get on the same page regarding your general direction, otherwise your financial union is doomed to fail.”

With credit card rates hovering at an average of 19.24 percent APR, hiding financial information from a partner could be financially devastating.

But, Rossman adds, it’s not just about the economic impact but also the erosion of trust.

“More than the dollars and cents is that trust factor,” he said. “I think losing that trust is so hard to regain. That could be a long lasting wedge.”

Kristin Myers is a reporter at Yahoo Finance. Follow her on Twitter.

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7 Examples Of Terrible Financial Advice We’ve Heard

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Between television, radio, the internet and well-meaning but presumptuous friends and family, we’re inundated with unsolicited advice on a daily basis. And when it comes to money, there’s a ton of terrible advice out there. Even so-called experts can lead us astray sometimes.

Have you been duped? Here are a few examples of the worst money advice advisers, bloggers and other personal finance pros have heard.

1. Carry a balance to increase your credit score.

Ben Luthi, a money and travel writer, said that a friend once told him that his mortgage loan officer advised him to carry a balance on his credit card in order to improve his credit score. In fact, the loan officer recommended keeping the balance at around 50 percent of his credit limit.

“This is the absolute worst financial advice I’ve ever heard for several reasons,” Luthi said. For one, carrying a credit card balance doesn’t have any effect on your credit at all. “What it does do is ensure that you pay a high interest rate on your balance every month, neutralizing any other benefits you might get from the card,” Luthi explained. “Also, keeping a 50 percent credit utilization is a surefire way to hurt your credit score, not help it.”

Some credit experts recommend keeping your balance below 30 percent of the card limit, but even that’s not a hard-and-fast rule. Keeping your balance as low as possible and paying the bill on time each month is how you improve your score.

2. Avoid credit cards ― period.

Credit cards can be a slippery slope for some people; overspending can lead to a cycle of debt that’s tough to escape.

But avoiding credit cards on principle, something personal finance gurus like Dave Ramsey push hard, robs you of all their potential benefits.

“Credit cards are a good tool for building credit and earning rewards,” explained personal finance writer Kim Porter. “Plus, there are lots of ways to avoid debt, like using the card only for monthly bills, paying off the card every month and tracking your spending.”

If you struggle with debt, a credit card is probably not for you. At least not right now. But if you are on top of your finances and want to leverage debt in a strategic way, a credit card can help you do just that.

3. The mortgage you’re approved for is what you can afford.

“The worst financial advice I hear is to buy as much house as you can afford,” said R.J. Weiss, a certified financial planner who founded the blog The Ways to Wealth. He explained that most lenders use the 28/36 rule to determine how much you can afford to borrow: Up to 28 percent of your monthly gross income can go toward your home, as long as the payments don’t exceed 36 percent of your total monthly debt payments. For example, if you had a credit card, student loan and car loan payment that together totaled $640 a month, your mortgage payment should be no more than $360 (36 percent of $1,000 in total debt payments).

“What homeowners don’t realize is this rule was invented by banks to maximize their bottom line ― not the homeowner’s financial well-being,” Weiss said. “Banks have figured out that this is the largest amount of debt one can take on with a reasonable chance of paying it back, even if that means you have to forego saving for retirement, college or short-term goals.”

4. An expensive house is worth it because of the tax write-off.

Scott Vance, owner of taxvanta.com, said a real estate agent told him when he was younger that it made sense to buy a more expensive house because he had the advantage of writing off the mortgage interest on his taxes.

But let’s stop and think about that for a moment. A deduction simply decreases your taxable income ― it’s not a dollar-for-dollar reduction of your tax bill. So committing to a larger mortgage payment to take a bigger tax deduction still means paying more in the long run. And if that high mortgage payment compromises your ability to keep up on other bills or save money, it’s definitely not worth it.

“Now, as a financial planner focusing on taxes, I see the folly in such advice,” he said, noting that he always advises his client to consider the source of advice before following it. ”Taking tax advice from a Realtor is … like taking medical procedure advice from your hairdresser.”

5. You need a six-month emergency fund.

One thing is true: You need an emergency fund. But when it comes to how much you should save in that fund, it’s different for each person. There’s no cookie-cutter answer that applies to everyone. And yet many experts claim that six months’ worth of expenses is exactly how much you should have socked away in a savings account.

“I work with a lot of Hollywood actors, and six months won’t cut it for these folks,” said Eric D. Matthews, CEO and wealth adviser at EDM Capital. “I also work with executives in the same industry where six months is overkill. You need to strike a balance for your work, industry and craft.”

If you have too little saved, a major financial blow can leave you in debt regardless. And if you set aside too much, you lose returns by leaving the money in a liquid, low-interest savings account. “The generic six months is a nice catch-all, but nowhere near the specific need of the individual’s unique situation… and aren’t we all unique?”

6. You should accept your entire student loan package.

Aside from a house, a college education is often one of the biggest purchases people make in their lifetimes. Often loans are needed to bridge the gap between college savings and that final tuition bill. But just because you’re offered a certain amount doesn’t mean you need to take it all.

“The worst financial advice I received was that I had to accept my entire student loan package and that I had no other options,” said Gina Zakaria, founder of The Frugal Convert. “It cost me a lot in student loan debt. Now I tell everyone that you never have to accept any part of a college financial package that you don’t want to accept.” There are always other options, she said.

7. Only invest in what you know.

Even the great Warren Buffett, considered by many to be the best investor of all time, gets it wrong sometimes. One of his most famous pieces of advice is to only invest in what you know, but that might not be the right guidance for the average investor.

In theory, it makes sense. After all, you don’t want to tie up your money in overly complicated investments you don’t understand. The problem is, most of us are not business experts, and it’s nearly impossible to have deep knowledge of hundreds of securities. “Diversification is key to a good portfolio, and investing in what you know leads to a very un-diversified portfolio,” said Britton Gregory, a certified financial planner and principal of Seaborn Financial. “Instead, invest in a well-diversified portfolio that includes many companies, even ones you’ve never heard of.”

That might mean enlisting the help of a professional, so make sure it’s one who has your best interests at heart.

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