Avoid Overspending Through Savvy Shopping
WHAT OUR C
Jason and Sachi Mitchell were extremely helpful in helping us find our condo right across the street from the Waikele Country Club — so we have fantastic views and
Marketers are magicians at luring shoppers to buy more than they intend. Whether you are shopping online or in a store, vendors use a variety of tactics to heighten the allure of their products, helping drive total U.S. household debt to a record $17.3 trillion. To help combat this, here are four financial tips to keep your budget intact and your debt under control.
sunsets looking over the fairways. We must have looked at over 20 condos in this area, and they were very honest and helpful in listing the pros and cons of each home. Jason put together a phenomenal offer to the seller, which was accepted, even though ours was not the highest offer!
Be wary of ‘buy now, pay later’ offers. These short-term, interest-free loans with fixed payments don’t require a credit check and are quick and easy to obtain. Not surprisingly, they tend to be most popular among consumers already in debt and strapped for cash. The Consumer Financial Protection Board says this puts consumers at greater risk of piling up more debt than they can afford. Also, returning items purchased this way may not always result in a refund.
“We highly recommend Jason and Sachi for their dedication to detail, exceptional work ethic, and honesty. The Mitchell Group is outstanding!”
–Rick Greene, Waikele, HI
Don’t apply for every credit card offered. Agreeing to apply for a store credit card seems like a no- brainer when you are offered 20% off for doing so at checkout. What’s not to like about that? It dings your credit score, for one thing. Applying for a credit card results in a hard pull on your credit report. Signing up for loyalty programs can also be self-defeating because they can maneuver you into excess spending to get more points and perks. Also, loyalty programs can discourage comparison shopping, which could otherwise save you money over time.
5.0
We have a 5.0 rating on Google*
A Positive Start for Oahu Real E
Single-family homes and condos report year-over-year gains and median prices remain stable. As we enter the fourth quarter, the Oahu housing market shows promising signs of recovery. Single- family home sales grew 22.5% year-over-year, from 213 to 261, while condo sales increased by a modest 1.5%, rising from 399 to 405. Month-over-month activity also improved, with single-family homes up 20.3% and condos increasing by 10.7%. Our October Monthly Statistics Report shows: • Median prices for single-family homes remained unchanged from last October at $1,100,000, while condo median prices experienced a modest 1.9% increase, reaching $525,000. • Single-family homes and condos recorded a median days on market of under one month, at 16 and 26 days, respectively.
Don’t focus on monthly payments alone. When making an installment purchase, car salespeople, real estate agents, and other
marketers of big-ticket items will often ask you how big a monthly payment you can afford, then stretch the payments out over the maximum period of time to entice you into a larger purchase. But consider the whole cost and how much the interest adds to that total. It may shock you. Also, notice price-anchoring ploys. Retailers often claim a $76 shirt is on sale for $38 — when they never intended to sell it for anything but $38. Abstain from retail therapy! Shopping for fun is a major factor driving consumer debt to a record high. Make a list before you shop, and avoid browsing or shopping with friends. Turning shopping into recreation can easily lead to impulse purchases and spending more than you intended!
• Both markets saw an increase in new listings in October, with 298 for single-family homes, a 9.6% year-over-year uptick, and 597 for condos, up 5.5%.
2
THEMITCHELLGROUPHAWAII.COM
Made with FlippingBook Ebook Creator