EPISODE 64~ TOP TIP: A Way of Saving Money With Hardly Any Effort
Every time you find yourself with a $10 bill in your wallet, don’t spend it! Instead, put it aside in a grown-up cash version of a piggy bank. That pile of $10 bills will grow and pay for something you need or want. Think about it, a lot of $20 bills pass through our hands, since that’s the main currency dispensed by ATMs. So saving those would be too much. But $10 bills? They don’t come around that often, so they’re perfect for saving and starting a nest egg. A friend of mine tried this $10 bill trick and in a year she had enough money to pay for tickets for herself and her daughter to visit Ireland where they have relatives. Which reminds me, this is a great little game to start with kids who are learning math and the value of money.
EPISODE 64 ~ MAKE MORE: Upgrading Your Smartphone? Here’s How to Get the Most Value Out of It
Right this second, you probably have a small, powerful computer in your pocket or purse. I’m talking about smart phones —and not only are they powerful, they’re valuable. So how can you get the most for yours when you’re ready to upgrade? That is our featured “make more” segment of this podcast.
My guest is Brian Morris of Flipsy.com, a website that helps you determine the value of your phone and find a buyer for it. Welcome to Easy Money, Brian.
Brian, for folks who aren’t familiar, what is Flipsy and how does it work?
Flipsy.com is the leading online pricing guide that provides accurate values for books, devices, and other items based on current market trends. Flipsy is used by sellers to determine how much their items are worth and by buyers who are seeking fair prices. Flipsy additionally offers a search engine that compares current buyback offers (what sellers can instantly get paid for their items).
Does Flipsy just work for phones? Or other electronics too?
We actually started by providing values for text books. But now we handle iPhones, iPads, Android phones and tablets on Flipsy. Those are our core categories, but we are also getting into pricing and selling of collectible magazines, Star Wars action figures, video game consoles —and more.
OK, so know there are lots of possibilities on FLipsy, folks. But for this interview we will stick with phones and tablets, since everybody has those. Flipsy doesn’t actually buy people’s phones. So how do you arrange the sale for me?
Flipsy lets you instantly compare current offers from dozens of companies competing for used products. If you see an offer you like, you’ll be directed to the buyer’s website to complete your transaction. Online buy back companies guarantee their quotes for 7 days or more. They pay shipping and often provide packaging materials if needed.
And, I assume you have vetted these buyers?
Flipsy.com only lists offers from trust verified stores who have a proven track record of conducting safe online transactions. Flipsy monitors review sites, customer feedback and rating services to make sure stores are maintaining good customer relationships.
How does Flipsy figure out what my phone or tablet is worth?
Flipsy monitors real-world transactions to determine accurate current market values. The value of any item is driven by the market, so Flipsy displays values based on what people are actually buying and selling products for today.
And I assume your phone or tablet has to be in great condition in order to sell it?
No, any Flipsy.com vendors purchase items in a variety of conditions, including New, Like New, Very Good, Good, Fair, Poor, and Broken. No matter what condition your item is in, you can sell it on Flipsy.com.
OK, so let’s whet people’s appetites. I have in my hand an iPhone 6s. I’m a little behind the times. It has 64 gigs. How much can I get for it via Flipsy?
We have offers on Flipsy for as much as $184 for that phone in like-new condition. $130 if it’s just in good condition.
Nice! Now let’s go high end. What’s the highest offer on Flipsy right now for a smart phone?
That would be the iPhone X make/model. There are offers on Flipsy to buy that phone for up to ____ dollars.
And how about a tablet example: give me one iPad and one other tablet example. How much money can people potentially make off of those?
$185-$540.
I imagine sometimes there’s a gap between what Flipsy says a phone or tablet is worth and what buyers are offering. What then?
The solution is a price alert. Flipsy Price alerts automatically notify you via email when an offer matches your set price for an item you want to sell. They’re the best way to quickly cash in when the price is right.
EPISODE 64~ SAVE MORE: Wholesale Warehouse Can Save You BIG Bucks on Car Insurance!
I’ve got lots of fancy tips for saving on car insurance, like dropping your collision and comprehends coverage or raising your deductible. But those take vocabulary lessons and some thought. So here’s car insurance savings 101: Consider buying your car insurance where you buy your bulk toilet paper: a warehouse club.
If you belong to a wholesale warehouse like Costco, BJs or Sam’s Club, you can get auto insurance there. These clubs partner with some major insurers to offer group discounts to their members. Some warehouse club members have cut their car insurance costs in half by signing up.
Gregory P. of North Carolina is one of them. He says the warehouse club car insurance policy actually covered more stuff than his old policy yet cost half as much. Gregory switched both his family’s cars to the new policy and bragged about his savings online. Here’s how he did: Old, individual car insurance policy: $2,832 per year. New warehouse club policy: $1,392. Annual savings: $1,440! Woohoo! My favorite kind of savings: big bucks on something boring!
EPISODE 64~ FIND YOURS: If You Had An FHA-Insured Mortgage, You May Be Eligible For a Refund From HUD!
First, lets untangle the government-speak. Why do bureaucrats love acronyms? FHA stands for Federal Housing Administration. HUD is the Department of Housing and Urban Development. FHA loans are special mortgages insured by HUD that require lower down payments of just 3 to 5 percent and help people who wouldn’t ordinarily be able to get into a home. If this is you, there are a couple different types of unclaimed funds available.
First is a refund for paying for mortgage insurance. This would apply to you if:
If you got your FHA mortgage after September 1st 1983.
You paid for mortgage insurance up front when you closed.
You did not default on your payments while you had the loan.
The second type of HUD/FHA unclaimed money is a share of any excess earnings from the Mutual Mortgage Insurance Fund. You would be eligible for this type of refund if you:
A, originated your loan before September 1, 1983
B, paid on your loan for more than seven years and
and C, had your FHA insurance terminated before November 5, 1990.
I know, confusing. But remember: Mortgage insurance is insurance you pay that guarantees to pay off your mortgage if you stop paying. These HUD/FHA refunds are for people who either sold the house or successfully finished up the term of the mortgage without that insurance ever being needed. It’s kind of like putting down a deposit to get a secured credit card. Once you’ve proven your creditworthiness, you get that deposit back.
But here’s the best part: Even if you don’t quite get the lingo, you can search your name in HUD’s database in mere minutes. Just enter your name, FHA case number, city and state and you’ll get a thumbs up or down. And, of course, I will link you to the HUD page where you can do this search from EasyMoneySHow.com/64. Let me know how it goes!
HUD web page to search for unclaimed FHA refunds:
entp.hud.gov/dsrs/refunds/
EPISODE 63~ EASY MONEY PODCAST
EPISODE 63~ TOP TIP: Pay Attention to the Medications You’re Taking
Pharmacies make an estimated 15 million medication mistakes every year and that includes filling the wrong strength of medicine and even the wrong medicine altogether. SO know the “3 S’s” of any medication you take: Size, shape and strength and double check those whenever you refill a prescription. Have a new script? Look up a picture online real quick before you swallow the first pill. And if it’s a generic, it can be made by multiple manufacturers, so be sure you’re looking at the right one.
EPISODE 63 ~ MAKE MORE: Keep This Detail OFF Your Resume If You Want the Job
Standard resume protocol calls for job seekers to list their education along with graduation dates. However, with a workforce that increasingly prioritizes youth, especially in fields like tech where the average employee is in their 20s, it can be tough for more experienced people looking to make a career shift.
While federal law prohibits age-related discrimination, it happens, whether intentionally or because of an interviewer’s unrecognized bias. So, there are certain precautions job seekers over a certain age can take when looking for their next position. Some experts recommend removing your graduation date from a resume once you hit 40. Your college graduation date is one thing to think about dropping. At least people graduate from college at different ages. But a high school graduation date really pegs you to a certain age, so it’s best to leave that off. For that matter, once you are an established adult, you should drop any mention of your high school anyway, since it’s old news —UNLESS you know the person recruiting WENT to your high school. One more formatting tip for workers of a certain age: Be sure your experience is up top and your education down lower on the resume. And older, less impressive jobs —that also hint at your age— should fall off the bottom of your resume as you go through your career.
Take a look at the average age of employees at tech companies chart: www.businessinsider.com/median-tech-employee-age-chart-2017-8
Know your rights against age discrimination: www.dol.gov/general/topic/discrimination/agedisc
EPISODE 63~ SAVE MORE: When You’re Sick There’s a Way to Pay For Your Treatment
Being diagnosed with a disease is not only devastating to your health and emotions, it can also wreak havoc on your finances. But there are groups out there that will help patients out in these circumstances, and sometimes even pick up the tab. That is our featured “save more” segment of this podcast and for this one, I have 2 guests. In a moment, we’ll speak with Mike Snyder, a cancer survivor, who found paying for his cancer treatment almost as stressful as the disease itself. But first, I want to welcome Dana Dornsife, Chairman of Lazarex Cancer Foundation, a groundbreaking group that helps cancer patients find clinical trials, then pays their M,out-of-pocket costs so they can get treatment. Hi, Dana.
Dana, first tell me how the Lazarex Cancer Foundation came to be.
My Brother-in-law, Mike Miller, was diagnosed with pancreatic cancer in 2003. Mike and his wife Erin had three children, the youngest of whom was only four years old. I searched for options for Mike that would give their family some additional time together and found a clinical trial. Mike participated in the clinical trial, responded well and lived long enough to help his sons prepare for their future and for his daughter to remember him. Watching what Mike went through, I witnessed the gap that exists in cancer care for end stage patients. I founded Lazarex to fill that gap.
Can you explain more? Why does Lazarex focus on end stage patients and what is the gap you refer to?
We provide resources for cancer patients who have been told they have no other options, but who are not yet done with their journey in life and refuse to give up. We present clinical trials as an alternative to hospice care for those who want to remain engaged in their fight against cancer. We help them identify their clinical trial options and provide assistance with costs. We believe that the size of a patient’s checkbook should not stand between them and the choices they make or the treatments they need. We remove the barriers to clinical trial participation for advanced stage patients seeking life through FDA clinical trials. For these patients Lazarex is literally their last line of defense.
Of course, legitimate clinical trials are free to participate in. So When you say that you provide assistance with the costs of clinical trial participation, what do you mean?
Lazarex will reimburse participation expenses for any phase therapeutic clinical trial. the clinical trial must be an FDA sponsored clinical trial held at a site in the United States. Income questions and guidelines are part of the application for financial assistance. Lazarex can help pay for the following expenses related to clinical trial participation:
Transportation (economy airfare, gas, rental cars, taxi fare, parking/tolls)
Lodging (housing during clinical trial participation)
Certain medical expenses not covered by insurance and necessary for clinical trial treatment. Lazarex will cover the same expenses for a companion to travel with the patient to the clinical trial
What a gift to these families! How do you choose which patients to work with?
We have a simple application for financial assistance and patients who qualify to participate will be reimbursed for approved out-of-pocket expenses on a sliding scale based upon their total household income. Our guidelines are include households up to 7 times the federal poverty guidelines so they are very inclusive. We arrived at this level of support through trial and error. 7 times the poverty guidelines allow us to maximize the dollars that go to the people who need them the most and turning away very few.
Dana, I know your main goal is to give cancer patients dignity and a chance to keep fighting if they want to. And i know they’re called “end stage patients” for a reason, but have you had success stories where the clinical trial worked a miracle and the patient survived?
Absolutely! Every day we receive emails and notes from our grateful patients. Quite frankly they are what keep us all going – this work is not for the faint of heart. We have many patients who are in various stages of remission or cancer free. Sadly we do lose patients but the loss also propels us forward – to never give up. You mentioned Mike Snyder at the top of the podcast – Mike and his family are an amazing example of the miracles that can come out of clinical trial participation – but we have to get patients to them in order for the miracles to happen.
Lazarex provides financial aid for cancer patients who want to participate in clinical trials. Are there other groups that help patients financially in other ways? Maybe even those facing other deadly diseases?
Yes, we list them on our website, Lazarex.org. Also the website cancer.net maintains a list of organizations that provide various kinds of financial support to cancer patients and their families, from paying for medications to covering co-pays. NIH has a similar web page that lists financial resources for those with genetic and rare diseases. For those facing other deadly diseases: the key message here is that there IS often financial help out there, so do a search and reach out for help. Knowledge is power and can make all the difference in an patients outcome.
And, folks I will link you to those resources from EasyMoneySHow.com/63. Meanwhile, Dana Dornsife, Chairman of Lazarex Cancer Foundation, thank you so much for being my guest on Easy Money.
And now, as we continue to explore the serious topic of saving money while saving your life, I want to hear from a patient who has benefitted from Lazarex’s work. Mike Snyder is a survivor who turned his cancer diary into a book called “No Treatment Options Left: Fighting and Surviving Inoperable Cancer. Mike, thanks so much for being here.
Mike, in 1996, you were diagnosed with a rare form of cancer in your knee and despite doctors amputating your leg, it came back, this time in your lungs. But you weren’t willing to accept the hospice care they suggested for you. So what did you do?
Unwilling to accept the prognosis, my family and I began researching clinical drug trials. We found one but it was a two-hour flight from home.
So you went for it and started traveling to the clinical trial. I assume you also struggled to go to work at this time. Describe what that did to your finances.
Keeping up with travel expenses to get to my life saving treatment nearly drove my family and me into bankruptcy. We were on the brink of having to sell our home.
Getting help participating in a clinical trial not only saved you money, it may have saved your life. Describe what the clinical trial has done for your recovery.
The tumors in my lungs are rock-stable: no movement; no growth; no anything. The PET images of the tumor in what remains of my left leg show extensive calcification; meaning the drug is shutting down the cellular activity of the tumor and it’s morphing into regular bone-type tissue. This change is VERY visible on the scan images and shows the drug is definitely working and working very well.
In 2012, a doctor told you you would die within 5 years. It’s 2018 now, so you beat those odds. What do the doctors in your clinical trial predict for you today?
He said, given my response, he strongly feels that I will survive another 10 years at a minimum, if not more.
And THAT is the power of continuing to fight and getting some financial help to do so. Mike Snyder, thank you so much for sharing your story on Easy Money! And listeners, I will link you to Lazarex and those other financial aid resources mentioned, from Easy Money show.com/63.
Cancer patient access to clinical trails: www.lazarex.org
A list of other organizations that provide various kinds of financial support to cancer patients and their families:
www.cancer.net/navigating-cancer-care/financial-considerations/financial-resources
NIH has a similar web page that lists financial resources for those with genetic and rare diseases:
rarediseases.info.nih.gov/guides/pages/149/tips-for-finding-financial-aid
EPISODE 63~ FIND YOURS: How to Negotiate With a Professional Unclaimed Money Finder and Get Your Money for Less!
Now, I’m on the record as saying that for MOST unclaimed money searches, you do not need to hire professional help at all. Just go to MissingMoney.com and unclaimed.org and conduct your own search for free. BUT in the course of doing this show, I’ve met some finders who persuaded me that in certain situations you do want and need their help: namely really tricky searches or searches for long lost ancestors.
And now, I’ve just read a Consumer Reports article that gives one more instance when you might pay a FInder. The magazine says some states release brand new unclaimed money information to Finders before they release it to the public. (I don’t agree with this practice, but there it is.) Usually this early heads up would be about unclaimed money that is on its way from banks and other financial firms TO the state. Fresh meat, so to speak. If you hear from a Finder about this sort of unclaimed money and you are in a pressing financial situation where you could really use that money ASAP, then maybe you work with the Finder to locate and claim it.
BUT here’s the point I’ve been working my way toward: don’t just go with whatever commission deal the Finder offers you. Many Finders will ask for 30 to 40 percent of your money in exchange for telling you where it is and maybe helping you claim it. Bogus! That is way too much. First, press them to tell you how much money of yours is out there. Then negotiate a commission of 10 percent or less, depending on the size of the pot you’re talking about. Put it in writing and include a clause that says you pay nothing until the unclaimed money check is safely deposited —and clears— your bank. Think about it: They get NOTHING without you, so you have tremendous leverage to negotiate a better deal.