Here's the Deal: For My Money

Our new consumer-affairs columnist reveals just how far she'll go to get a bargain.

By Janice Lieberman

From Reader's Digest

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These days, a good deal is something few of us can afford to pass up.

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These days, a good deal is something few of us can afford to pass up.

Some people will do just about anything to save money. And I'm one of them. Take my family's last vacation. It was my six-year-old son's winter break from school, and we were heading home from Fort Lauderdale after a weeklong cruise. The flight was overbooked, and Delta offered us $400 per person in credits to give up our seats and leave the next day.

I had meetings in New York, so I had to get back. But that didn't mean my husband, Steve, and my son David couldn't stay. I grabbed my nine-month-old and took off for home.

The next day, my guys were offered more credits to take an even later flight. Yes, I encouraged -- okay, ordered -- them to wait it out at the airport to "earn" more Delta Dollars. Our total take: $1,600. Not bad, huh?

Now, some people may think I'm a bad mother and not such a great wife either. But as a big-time bargain hunter, I know the value of a dollar. And these days, a good deal is something few of us can afford to pass up.

I've made a living trawling for the best deals and exposing the worst scams. I have been the consumer correspondent for NBC's Today show for over a decade. And I've written two books: Tricks of the Trade: A Consumer Survival Guide and How to Shop for a Husband: A Consumer Guide to Getting a Great Buy on a Guy.

And I really do practice what I preach. Until recently, for instance, we owned two cars, each with more than 100,000 miles on it. I refused to consider buying a new one. They're running just fine, I said. My son pleaded with me. My husband hid our jalopies in the garage. No dice!

This winter, one of the snowiest in recent years, did us in. Without four-wheel drive, we began slipping and sliding all over the place. Even I had to concede it was time to get an SUV. But it had to be "pre-owned." The dealer took one look at our car (we'd brought our less appealing one) and told us he wouldn't consider a trade-in. "You have two choices," he suggested helpfully.

"Either donate it to charity or drive it off the nearest bridge!" (We went ahead and bought the SUV.)

I tell you this because there is no shame in spending your money wisely. I'm also tightfisted when it comes to shoes, clothes for my kids, and expensive restaurants (I won't pay $30 for a plate of pasta -- I'd rather spend the money on groceries and entertain friends at home).

But I will splurge on a good haircut. It keeps its shape longer, and it's the first thing people notice. Saving for my kids' education is our way of giving them the best start in life. And I will also splurge on a classic piece of furniture. Quality lasts.

Yes, I've been ripped off too. We once had a huge flood in our home and called the drain man. A thousand dollars later, he'd cleaned out the drains and gutters and assured us we wouldn't have any more problems. You guessed it. He cleaned us out too. The next time it rained, we were ankle-deep in water, and he was nowhere to be found. But this just makes me more determined to share what I know about protecting your money.

Let me hear from you. Send me your questions and money tips. Together, we can save each other a bundle.

The Tip Box

• Scam of the month

  New websites and ads on Facebook appeal to a cash-strapped public's confusion over the stimulus plan and offer "free" advice on how to get government money. Read the fine print: This "free" advice could cost you $69.95 a month. Don't take the bait. Government grants are handed out for specific reasons, and the how-to-apply information is free at government sites like grants.gov.

• Try haggling

  To save money, say ...

  "I don't really need them. If they go on sale, please call me."

  "What's your best price on this?"

  "What if I pay cash?"

• It only sounds good

  Zero percent financing on cars may not be the best deal for you. Unless you have a very high income and credit score, you won't qualify. If you do, the loan is usually for 24 to 36 months, not the standard 48 to 60. The bottom line? Very high monthly payments, especially if you neglected to negotiate a good purchase price.

  
  

  From Reader's Digest - May 2009

   

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