Quotable: Ayn Rand

“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.”

Umbrella Insurance 101

Umbrella insurance - what's that?  I can't imagine insuring an umbrella!  Oh, that's not it.  So what is umbrella insurance?

Umbrella insurance is a liability insurance that covers you for liability in excess of the coverage that you already have as part of your existing insurance policies (auto, homeowners, renters or boat insurance.)  If you are found responsible for an accident that has property damage or bodily injury, the judgments against you can accumulate pretty quickly.  And that is just for legitimate claims - what if you are involved in a situation where someone makes a fraudulent claim against you?  One bad accident could wipe out all your savings, assets, and even result in a judgment against your future earnings.

Umbrella liability insurance acts as a broad coverage that is on top of your existing liability coverages (hence the umbrella name.)  Umbrella coverage does not kick in until you have exhausted the limits of your existing coverage, and because of that most umbrella policies require that you maintain certain level of liability coverage on the underlying policies.  The good news is, liability insurance is really inexpensive!  Our family's policy is about $274 a year ($23 a month).

I think that umbrella insurance is part of any good insurance plan, but there are some times when it seems particularly necessary.  If you own a rental property, there are any number of ways that claims could be made against you.  Some property management companies actually require umbrella insurance of their property owners.  If you have any particularly dangerous stuff on your property, such as a trampoline or a swimming pool, your need for excess liability insurance is higher.

USAA's June Walbert does a great video on umbrella insurance.  It doesn't embed, but you can find it here.  I recommend umbrella insurance to my friends and family and you should seriously consider if it is something for you.

Saving on Vacation

Laura at Five Cent Nickel has written a great piece called How to Save Money on Vacations.  While military families often spend their vacations "going home" or PCSing, many of these tips still apply.  As usual, the comments are also helpful.  I haven't found a way to make traveling as inexpensive as staying at home, but there are certainly lots of ways to lower the costs.

Top Three Tips

I just finished a radio interview on the F.R.A.Z.L.E.D. Military Wives Christian Network's Blog Talk Radio Show - wow that is a lot of words.  While I was preparing for the interview, I jotted down the three things that I wanted to talk about during the show.  I didn't exactly get to them all, but I'll share them with you now:

1. Know where you are - sit down and write down every debt, every bill, and every bit of income that you have.  Just making the list is incredibly helpful.  Take some time to look at it, and then begin your planning from that list.


2. Keep it simple.  Automate your bills whenever possible.  Don't have a crazy number of bank accounts all over town.  Limit the number of accounts that you need to manage.  Simple is good!


3. Figure out what is important to your family, and manage your money to fit your values.  Make room in your budget for the things that you want, and save elsewhere.

This is just a short list that I jotted down before the show, but I think it is a pretty neat summary of the most basic personal finance concepts.

The entire radio show can be heard at the FRAZLED MWCN website.  Thank you to Shannon and Sara for letting me visit their show!

Veteran's Day Offers

A few national Veterans' Day promotions will be coming up in the next few weeks.  So you can plan ahead, here is the list so far:

Every year, Golden Corral does an offer for Veteran's Day that includes a free meal for all military members or veterans.  The 9th Annual Military Appreciation Monday is being held on Monday, November 16th, from 5 p.m. to 9 p.m. and includes a free meal for all veterans, retirees, active duty military members, and members of the National Guard or Reserves.  In addition, individual stores are supporting various veterans' groups through raffles and other fundraising efforts.

Applebee's Restaurant is offering a free meal, from a limited menu, for vets on November 11th.  Their webpage lists the required documentation:  a military ID, an LES, a membership card from a Veterans' organization, a photograph of you in uniform, actually wearing a uniform, a copy of your DD214, or a copy of a citation or commendation.  It's nice that they list those so clearly.  It appears that they are offering the free meal all day.

McCormick & Schmick Restaurants are also offering free meals to veterans, on Sunday, November 8th.  Most locations are participating and you can find the list here.  There is a special menu being offered, reservations are suggested, and parties are limited to 6 people.  I've never actually been to a McCormick & Schmick, mostly because I am cheap, but this might be a nice way to try them without spending the full amount of dinner.

Update 11/7:  Pizzaria Uno is offering a free entree or individual pizza, with purchase of the same, to all veterans and active duty military members.

While not a national chain, Masala Wok, of Northern Virginia and various Texas locations, is also reported to be offering free meals to vets on Veterans' Day.  I'd call the individual location first but if you are nearby anyway, it might be a good way to try a new place.

With all these deals, you could really splurge and eat out a lot during Veteran's Day week, without spending quite as much as you usually would.

June Saves on Groceries

June, of USAA and Ask June fame, give the following advice today on Twitter: 

Friday can be good grocery day cause shipments arrive for wknd. Prime tenderloin slashed $9/lb cause another pallet just arrived. Yes!

My kids know that we shop the dent-and-damage at the commissary, and we always look for marked down meat at the regular grocery stores.  I hadn't though about there being a weekly pattern - I bet if you watch (or ask) you can figure it out.  Some stores will mark down fancy cheeses when they are within a few days of their sell-by date, or deli items like cooked chicken or potato salad if they have too much for that one day.  Also, check to see if your store offers discounted vegetables if they are less than perfect.

Please share your secrets for finding clearance food products.

Quotable: Bob Dylan

“Money doesn't talk, it swears.”

Don't Overlook the Base Thrift Shop

I stopped by a nearby base thrift shop yesterday in search of a particular item for a Halloween costume.  I've shopped at this thrift shop before, and found a few good items, but I had forgotten what an amazing bargain the base thrift shops can be.

Before I get started, I should probably mention that most base thrift shops are open to all ranks, and many allow civilians to shop there as well.  Be sure to check with your particular store, but don't be shy.  I've heard people say that they can't shop at the thrift shop because they are beyond a particular paygrade.  In 99% of the cases, that isn't true.

On to my shopping story!  In addition to the Halloween costume parts I needed, I was able to get through most of the women's pants and skirts before closing time arrived.  I found several nice items, in great brands, and was delighted to discover that they were only $1 each.  Now I won't be wearing the same pair of pants all winter!  I've shopped at thrift shops on five or six bases over the years, and they've always been wonderful.  A few years back, I got nearly my entire summer wardrobe for about $20 at one sale.  Better yet, I redonated the same items back to the shop when my size changed (again!)  It was almost like renting the clothes.

Most base thrift shops are operated by the services' relief society or by the base spouses' club, and proceeds benefit military families.  In addition to clothing, they often sell uniform items, household goods, and children's clothes and toys (Whoohoo!).  I still have a hard time convincing my husband that it is OK to buy uniforms from the thrift shop, but for seldom-worn (and expensive) items, he can be persuaded.  I just can't justify spending a bunch of money on a particular dressy uniform item that he may never need again, or that won't fit right when it is next needed.

Your base thrift shop is a great place to give and shop.  If you haven't been before, I suggest you find out their hours (usually limited) and check it out next time you are in the area.  I think you will be very pleasantly surprised.

Chipotle Halloween Promo

It looks like Chipotle is doing their free burrito promotion again this Halloween, from 6 to 10 pm.  Dress as a burrito (or something less complicated, but apparently it needs to include foil and be somewhat in the vein of the burrito concept - maybe a crown?) for a free burrito.

I'm not going to attach a link because I keep getting some suspicious activity when I try to click on anything that includes the words "chipotle halloween promotion october 2009."  In the interest of saving both our computers from a mess to be cleaned, I'll just tell you to check with your local Chipotle.

Update 10/31/2009: It worked! I went to Chipotle with a aluminum foil crown on my head, and I got a free salad! The guy behind the counter teased me that I was a burrito princess. There were lots of people there who were not wearing any sort of costume, and my sister refused, but I saw at least one whole family wrapped in various aluminum foil accessories. Cool, huh?

Stop Loss Compensation

Were you affected by the "Stop Loss" orders since September 11, 2001?  Do you know someone who was?  Good news!  The Department of Defense has organized the program to compensate former and current service members for the time that they served involuntarily, past an end-of-service, resignation or retirement date.  The payment amount is $500 for each month of involuntary service.  Service members are eligible for the payment even if they later decided to extend, re-enlist or withdraw their resignation or retirement.

Officials predict that the hardest part will be getting the word to former service members who may not keep up on current military issues.  If you know someone who might be eligible, be sure to share this information with them, and keep passing it on so that we reach everyone who qualifies.

The complete press release, with links to the appropriate forms, can be found at DefenseLink.

Veteran's Days Discounts at Cabela's

Veteran's Day weekend, Cabela's outdoor store is offering their employee discount to all veterans, active duty military and reserves, law enforcement, fire and EMS personnel on Nov. 11 and 12.  Dubbed a "Hometown Heroes" event, eligible shoppers will need to check in at a table at the store to receive a coupon for the discount.

All the information I've received about this promotion has been second hand and it seems that the website doesn't offer any information.  I've heard that the discount varies from 5% to 50%, depending on item, and that it excludes guns, boats, trailers and safes.

I'm sorry that I don't have a link or more precise details.  I've been told call your local Cabela's store for more information.  If this accurate, and I've read it multiple places, this could be a great deal for the outdoor enthusiast.

26 October Military Report

Financial news from the Military.com 26 October 2009 Military Report:

Armed Forces Offering Cyber Security Tips - The Department of Defense's seven cyber-security tips to help you stay safe online.

Beware of Dangerous Downloads - Persons using peer-to-peer programs such as LimeWire, BitTorrent, and the infamous Napster may get more than they bargained for.

Board of Veterans Appeals Expanded - VA announced the addition of four new Veterans Law Judges to the Board of Veterans' Appeals (BVA), which will enable the board to increase the number of cases being decided.

Deal of the Week: Up to 87% off - Limited time offer for US Military. Microsoft Office Standard 2007 for only $49.99.

Eat Free at Applebee's - Military veterans and active-duty servicemembers will be able to eat for free at any Applebee's across the U.S. on Veterans Day, Wed., Nov. 11, 2009.

Is SGLI enough? - SGLI may not be enough to protect your family. USAA Military Protection Plus life insurance can help provide the coverage you need. Contact us today at usaa.com/MPP.

Liberty University Offers Tuition Discounts to Military - In today's economy, you need a degree to complement your military training. At Liberty University Online, it's easy for service members, veterans, and military spouses to get an in-demand education.

Military Career Expo Coming to Jacksonville, NC on Oct. 29 - Meet with top companies such as Northrop Grumman, MAC Tools, Lockheed Martin, ManTech and more.

Respite Child Care Available - This month YMCA respite child care expanded to licensed child care programs at YMCAs in all states that wish to participate in the program.

Stop Loss Compensation Pay - Current and former servicemembers who were involuntarily held on active duty as a direct result of stop loss, may be eligible for a Retroactive Stop Loss Special Pay compensation.

You can find the complete Military Report here.

Innovative Ink Savings

While researching another subject, I can across innovative software that can help you to save money on printer ink and toner.  HalfTheInk.com is the website that advertises PretonSave, software that saves ink by altering your printing instructions to use less ink without degrading the quality of your printing.  The software is easy to install and ready to use immediately, with any printer brand, and can be used on inkjet, laser or photo printers.  Once you've installed the software, and adjusted the settings if desired, all you have to do is press print as usual and the software will automatically change the print directions.  Not only will you save ink (and money) but you will also be reducing the amount of stuff that needs to be recycled.  Plus, fewer trips to buy more ink!

You can download a free 30 day trial from the website, and if you like it, there are various purchase options.  It isn't a cheap program so you will have to consider how much ink you are currently using before deciding if this is a good choice for you.  I would imagine that if you have a home business, or are a student, or print a lot of photos, this would be a smart investment.

I'm going to try the free trial and I'll let you know how it works out.  Please share your experiences if you have used this program before, or if you try it now.

Referral Unnecessary for H1N1 Vaccine

Tricare has temporarily suspended the need for prior authorization and referral to receive the H1N1 vaccine from any Tricare-authorized provider.  What this means is that you can go to a Tricare-authorized provider to get the H1N1 vaccine without seeing your primary care provider first.  With some areas experiencing a scarcity of the vaccine, this will allow you to get the vaccine from the providers who have it without waiting and possibly missing your opportunity.  Pharmacists are not considered Tricare-authorized providers and therefore you will not be able to use this benefit at a pharmacy vaccination clinic.

This page from the CDC provides additional information about Tricare and the H1N1 vaccine - scroll down to find the Tricare section.

This temporary change to policy is only in effect from October 1, 2009 to April 30, 2010.

Free Snack at Barnes & Noble

Do you have a Barnes & Noble nearby?  What a great way to spend an autumn afternoon, curled up in a bookstore with a warm drink and a snack.  Especially if that snack is FREE!

Today, October 24, 2009, Barnes & Noble is offering a free kids' size hot chocolate and cookie with a printable online coupon.  Yum, yum..it is almost enough to make me wish for a rainy afternoon.

Quotable: Addison H. Hallock

“Before borrowing money from a friend, decide which you need more.”

Kiplinger Focuses on The Military

Wow, we military folks are hot commodities lately.  I've been hearing radio clips, reading magazine articles, and finding more and more websites focusing on personal finance for the military.  I think all this attention is great:  the more we can learn, the better we can be.

Today I want to point out Kiplinger's Personal Finance Guide for Military Families.  Kiplinger is a well-respected personal finance magazine and website and their professional expertise is obvious in this great site.  The military homepage includes videos, worksheets, articles and other resources all specific to unique military situations.  I love this page!

Listen to the Roto-Rooter Man

In my mail today, this timely reminder from Roto-Rooter:

Pumpkin Carvers Beware!

Never put pumpkin pulp into drains, toilets or garbage disposals.  The stringy and sticky gunk is ideal for clotting drains and doesn't grind thoroughly.  Wrap the waste in newspaper and discard in a trash can or compost pile.

I know from experience that having the Roto-Rooter man visit is an expensive adventure.  In this case, prevention is worth the effort.

The Career Advancement Account Process

I've written before about the amazing Career Advancement Accounts being offered by the Department of Defense via Military One Source.  I've been dawdling my way through the process of applying for financial assistance through the CAA system and I'm nearly done - just in time to register for spring classes.

The application process itself is pretty simple.  First, you create an account.  Write your password down (seriously; I've had to reset mine several times.)  Once you've created an account, you'll be shown a simple checklist of the steps, including:

• Agreeing to the Statement of Understanding that outlines the program.
• Enter your previous education.
• Enter your career history.
• Create your career and training plan.  (This part is slightly tough if you're not exactly sure what you want to study, such as if you are choosing between two variations on a similar degree.)

Once you've created a plan, then you send a message requesting that your plan be approved.  The program is currently quoting a four week wait for approval so be sure to start the process in enough time.  When you receive your approval, you then update your account each time you register for new classes.(within 90 days of the start of classes.)  The CAA payments are made directly to the school.

This seems like a no-brainer to me - free money for school.  I have a lot of questions about how long this program might last so I'm going ahead and taking my classes now even though this isn't exactly the right time for our family.  I hate to be pessimistic but you know how sometimes these things get changed as time goes by and I would hate to miss out on such a generous offer..

VA Goes YouTube

The Veteran's Administration has begun posting YouTube videos to help answer questions and highlight VA benefits.  One of the most recent videos highlights the VA Emergency payments:

Be sure to check out the VA channel - there are nearly a hundred videos available there, with topics ranging from Mini-Mitral Valve Surgery to Water Wise Landscaping.

Quotable: Zig Ziglar

“Money won't make you happy... but everybody wants to find out for themselves.”

Should You Refinance?

When I see the amazingly low interest rates, I often wonder: Should we think about refinancing? There are so many variables to consider. If you are just beginning to think about refinancing, this segment by June Walbert of USAA will help you decide whether refinancing is the right choice for you.

Thanks, June, for providing us with this useful information.  Now I have a little better idea where to begin thinking about refinancing.

10 Signs You Need Help

How do you know if you could benefit from professional financial help?  Here are 10 signs that things might be headed out of control:

1. You are late paying your bills each month.
2. You use credit for things you used to pay for with cash.  (groceries, utilities)
3. You fight with family members about money.
4. You make debt payments with rent money.
5. Creditors are calling or writing.
6. You use payday loans.
7. You aren't saving.
8. You are the subject of repossession, eviction, or legal action.
9. You are counting on a tax refund to solve your money problems.
10. You transfer balances from one card to another without making any positive progress.

If any of these sound familiar, then you would certainly benefit from some professional advice.  Fortunately, the military offers a variety of great ways to get help.  MilitaryOneSource offers confidential counseling services both in person and via the telephone.  Each branch of the service offers a personal financial management program (Army:  ACS Financial Readiness Program, other services:  Personal Financial Management Program) that can be accessed directly through your command or through your family support center.  If you've checked yes to any of these items, make a plan to reach out and get some help to make a positive change.

SaveAndInvest.org's Military Page

You might want to have a look over at SaveAndInvest.org - they've got a great Military page that links to a variety of articles and sites of interest to military members and their families.  I guess it has been there all along but it looks new to me even though I've spent time at their website before.

SaveAndInvest.org is a free service of the Financial Industry Regulatory Authority (FINRA) and provides all sorts of information to help protect consumers from fraud and provide quality information that helps people manage their money with confidence.  Their military page includes news updates, program explanations and timely tips so that you can make great money decisions.

Avoiding the Impulse Buy

This is a huge issue for me:  I go into the store to buy a particular item, and I come out with a bunch of other stuff that I justified as necessary.  That is why I recommend this article:  Overcome Impulse Buying   Not rocket science, but a good reminder and I loved the Wikipedia definition and the links to other articles.

Mail Early (and Save Money Too!)

It is hard to believe that we're thinking about mailing holiday packages already, but now is the time to think!  If you've got packages going to APO and FPO addresses, mailing early can save you a bunch of money.  Here are the deadlines:

Postage Type	APO/FPO 093XX	All Other APO/FPO
Express	Not Available	18 December
First Class and Priority	04 December	11 December
PAL	01 December	04 December
SAM	20 November	27 November
Parcel Post	13 November	13 November

More information on various mail services can be found here.

Don't forget that none of these are guaranteed delivery times, just the USPS's best estimates. In this case, earlier is always better.

Quotable: Warren Buffett

“Writing checks to the IRS that include strings of zeros does not bother me ... Overall, we feel extraordinarily lucky to have been dealt a hand in life that enables us to write large checks to the government rather than one requiring the government to regularly write checks to us – say, because we are disabled or unemployed.”

More Benefits Updates

From the October 5, 2009 Military.com Military Report:

Alaska Sea Services Scholarship - Nominations are being sought for the Alaska Sea Services Scholarship Program, which awards up to four $1,000 scholarships annually for undergraduate education.

Dealing With the Housing Crisis - During these unpredictable times, the Army is committed to supporting and assisting their team members with obtaining financial guidance and assistance.

GI Bill Participation Grows - The Department of Veterans Affairs (VA) announced that it provided certificates of eligibility to nearly 200,000 applicants for the new Post 9/11 GI Bill.

Homeowners Assistance Program Details - The DoD announced details for the temporary expansion of the Homeowners Assistance Program to partially reimburse losses from the sale of a primary residence.

House Examines Burial Benefits - A recent House hearing provided a comprehensive exploration of burial benefits currently available for veterans and any additional measures needed for veterans and their survivors..

Post-Deployment Spending Sprees

If you've been in the military a few years, you've probably seen it (or even done it):  The homecoming spending spree.  There are two variations on this theme:  a spouse who is preparing for a service members return makes a lot of purchases in anticipation of the return, or a service member who comes home and immediately makes several purchases, sometimes large ones.

With proper budgeting and planning, this might be useful or even necessary.  Without forethought, however, it can surely be a bad thing.

This week has been an excellent example for me.  My husband is coming home on R&R soon  and I've been on a little mini-spending spree in anticipation.  Most of it is things that needed to be done eventually, including numerous small repairs to his car, but altogether the total expense is a little more than I expected.  Add in a huge commissary trip, a stop at the local liquor store, and a few updates to my own wardrobe and now I've spent a substantial amount of money.  I'm only feeling a little bit guilty - the car repairs had been put off a long time and it seems a sensible time to do them.

If I were doing this really well, I'd have set aside the money in a separate account to pay for these expenses.  I didn't but I'm pretty sure that I'll be able to absorb them into my regular budget without too much trouble.  Of course, I haven't gone out an done anything drastic.  We once had a friend who purchased her husband a new car before he came home.  They're a sensible couple, and I imagine that there had been discussions of getting a new car, but the thought still made me very nervous.  That's a lot of money for a surprise!

I've also seen returning military members go on post-deployment sprees.  Again, I think that is fine if it has been planned and fits in the family's overall budget.  A new game system might be a great reward for months of hard work, as long as it isn't causing a financial shortage in other areas.

What experiences do you have with post-deployment spending?  Has it worked well or not?  What kinds of things have you bought?  I'd love to know.

Staying On Track Can Be Hard To Do

Dealing with your finances in a responsible manner is a lifelong journey.  You don't get to quit paying attention just because you've got things under control; if you do that, you will soon find that you're back in trouble again.

That's why I like this article by NCN at No Credit Needed:  How to Stay on Track.  He acknowledges up front that this isn't always fun but that it is necessary, then breaks down the steps and discussed the ways that you might be deviating from your plans.  Even people like me, who think about personal finance all day, need to be reminded to remain focused.  (Ok, so I think about personal finance and html all day long.)  It is so easy to get distracted!

This article is a good way to renew your enthusiasm.

Don't Get Caught By Credit Repair Deception

Ever wondered about those commercials: "We'll fix your credit! Improve your credit score! Call now!" I've wondered enough that I've actually considered calling, just to find out what they have to say. Fortunately, we've got June Walbert of USAA to help us get past the hype and take positive, useful steps to keep your credit score sparkling.

Thanks, USAA, for continuing to provide the information we need.

Quotable: Mark Twain

“There are two times in a man's life when he should not speculate: when he can afford it, and when he can't.”

Activity Grants for Kids of Deployed Guard and Reserve Members

Are you or your spouse a deployed National Guard or Reserve person?  Well, I have a great program to tell you about.  A group called Our Military Kids provides grants for children ages 3 to 12th grade to participate in sports, cultural arts, tutoring, and other similar programs.  Application is easy!  You can download the application form, fill it out, and send it in with the necessary other information (copy of birth certificate or ID card, program information and deployment orders.)  There is a $500 limit per grant, but grants are available for each child in the family, and a child may receive two grants during a single deployment if the deployment is over 365 days long and other criteria are met.

This is a remarkable program that can really help your family cope with deployment by providing quality activities without adding extra expenses.  Thanks, Our Military Kids, for your support of the National Guard and Reserves.

The Paycheck Chronicles Main Page

Military Travel On A Budget

I've just learned about a new website devoted to military travel discounts:  GuideToMilitaryTravel.com.  Run by a military spouse, the site includes all sorts of information about discounts at regular hotels, military lodging and travel tips for families.  These offers are different from the offers that you can get at your bases ITT office and often are a much better deal.

You can also follow them on Facebook or Twitter, so that you can keep up-to-date on all the new promotions as they become available.

Emergency GI Bill Benefits

As you may have heard, some people using their GI Bill benefits are having some trouble getting paid as the VA struggles to keep up with the huge number of beneficiaries who are using the new GI Bill benefits.  Fortunately, the Secretary of Veteran's Affairs has authorized emergency checks of up to $3,000 for students who have applied for benefits but haven't yet received them.  Students will need to get a VA office in order to receive the checks.

The full information can be found at the VA Website or check with your college's financial aid offices.

23 Action Items

Don't you hate those articles that tell you to switch to generic toilet paper and stop buying overpriced coffees?  I see the purpose, because a lot of people don't realize that those things can save them money and also because it helps build a mindset of being thoughtful with your money.  But seriously, I'm looking for real, substantial steps to help chip away at debt.

Fortunately, DR at Dough Roller has put together a truly useful list of steps that you can take to get your debt under control.  I've used several of these steps myself, particularly step #1:  Put your debts on paper.  I can't emphasize that enough.  I don't know if it is the realization of seeing it all written down that motivates you to get moving, but it seems to help a lot.

DR includes lots of good action items in this timeless piece on debt reduction.  If you are looking for some new inspiration or a fresh perspective, this might be a good place to start.

Internet Interest

These two articles from The Paycheck Chronicles were featured in Blog Carnivals last week:

At the Money Hacks Carnival, Patrick of Cash Money Life selected Pump Up the Savings.

At the Festival of Frugality, Green Panda of Green Panda Treehouse highlighted Watching Carefully at the Warehouse Clubs.

Both carnivals feature tons of great articles on personal financial issues, and they're neatly packages so that you don't have to go wandering around the internet to find them.

Membershop Rewards from USAA

I was talking to the USAA rep at SpouseBUZZ Live today, and she mentioned their new online shopping rewards program.  I hadn't heard about it so I took the little card, came home and looked it up.  I'll admit that I'm not exactly sure that I understand all the details, but basically if you are shopping online, and you shop through the USAA Membershop website, you'll earn rewards at a higher rate than you could get if you shop without going through the Membershop website. 

For example, say you are going to buy your child a new winter coat at Lands' End.  If you go through the Membershop website and pay with a non-USAA card, you'll earn a 2% rebate.  If you use a USAA card, you'll earn a 4% rebate.  That's not too shabby!I have used other rewards programs, usually Ebates and MyPoints.  For purposes of comparison, Ebates currently offers 3% back on Lands' End purchases.  MyPoints does not have an affiliate program with Lands' End. 

To compare another site, I checked out Drugstore.com.  Using the USAA card, the rebate is 8%.  Using a non-USAA card through the Membershop site, the rebate is 5%.  The Ebates rebate is 6%.  MyPoints gives you 300 points per purchase, which is worth roughly $2.  For a third comparison, I looked at Ebay.  The USAA Membershop program doesn't work with Ebay, Ebates is 2%, and MyPoints is 2% (with a double bonus in September, making it 4%) in points.  MyPoints accrue to gift card value at around $2 worth of value for every 300 points.

This seems like a nice program to add to your rebate site collection.  If you're not interested in searching around to find the best rate for each individual purchase, I would certainly consider going through the USAA site for online purchases.  If you are using a USAA branded card, it seems to have the best rebate rates available.  Rebates can accrue quickly, especially if you are living overseas or do a lot of online shopping for any other reason.

Now, if anyone has a good way to remember to so my shopping through the rebate website, I would love to hear.  I often forget to go through one of those sites when I do my purchasing and I know that I'm missing out on a lot of rewards because of it. If you have tricks for solving that problem, please let me know!

The Paycheck Chronicles Main Page

Quotable: Paula Nelson

“A credit card is a money tool, not a supplement to money. The failure to make this distinction has 'supplemented' many a poor soul right into bankruptcy.”

Don't Forget: Museum Day 2009

Don't forget that tomorrow is Smithsonian Magazine Museum Day.  Nationwise, hundreds of museums and cultural sites are offering free admission on Saturday, September 26th.  What a great way to see something new at the perfect price.

Coke Rewards: Worth Your Time?

Have you heard about these Coke Points?  If you drink any Coca-Cola products, including Powerade sports drinks and Dasani bottled water, you've probably noticed the codes inside the caps or boxes.  The Coke Rewards program is set up to let you enter your codes into an online account and then redeem them in various ways.  You can use a small number of points to enter a sweepstakes, or accumulate a bunch to get free stuff

.A bottle of coke is 3 points, a 12 pack of cans is 10 points, and a case is 20 points.  You may enter only 120 points worth of codes per week.  Entering the codes is pretty quick, about 30 seconds per code if you are a decent typist.

Once you've entered your codes, you have six ways to spend your credits.  You may redeem them for merchandise, use them to enter contests, donate them to a school, donate them to another type of charity, participate in an instant win game, or use points to pay for a portion of a purchase that uses cash for the rest of the purchase.  The merchandise selection is small and much of it is Coke related:  tees, cooler bags and ball caps.  Other offerings include various magazine subscriptions (my favorite) and a few useful gift cards.  There are some decent offerings but you really have to pick through the useless stuff.  I'll admit, I've never done anything but get magazine subscriptions (they have Smart Money!) so I can't report my experiences with the rest of the choices.  I'm considering getting the Omaha Steaks gift cards to use at the local store, or perhaps a Nike gift card to pick up some new workout gear.

Is it worth it?  I wouldn't start drinking soda just to collect the points, but it you (or someone in your family) is drinking it anyway, you might want to start saving those points.  If you have a child who is capable of entering the codes, even better.  It does take a little time to enter the codes, and more time to sort through the rewards to find a good choice.   Most importantly, it is free!

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